August 2011 Blog Posts (11)

In an earlier post on the debt ceiling, I asked if you could recall where you were when a “sentinel event” such as the bombing of Perl Harbor, assassination of JFK or the terrorist attacks of 9-11 occurred.  These incidents had a profound effect on life in America, for both our national psyche and for each of us personally.



On August 2, 2011, without any significant cuts in the level of federal spending, the Senate voted by a wide margin in favor of a bill already passed by the…

Continue

"The largest single barrier to full employment of our manpower and resources, and to a higher rate of economic growth, is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive." - President John F. Kennedy in a special message to Congress on tax reduction and reform Jan. 24, 1963

 

Even back in 1963, JFK knew how crippling income taxes are.

 

Thanks

Steve Bang

 

 

U.S. Constitution: Sixteenth Amendment

 

 

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

 

INCOME TAX

  History and Purpose of the Amendment

The ratification of this Amendment was the direct consequence of the Court's…

Continue

Looking ahead a little at the coming elections, we can easily see how important our choices are today and this month and moving forward to election day. Each decision must be weighed carefully and then acted upon with purpose and urgency.

Revolutions andviolent upheaval in the Mideast, riots and union protests in most of Europe and "flash mobs" that have been pilaging Great Britain, with some overflow here at home.

The United States is not immune to all of the economic…

Continue

Gary Johnson was interviewed on POTUS Radio yesterday, when the host asked him about the Fairtax. He was asked what would happen when the price of an item went from $100 to $123 overnight from day before Fairtax to day of Fairtax.  A couple of blunders that Johnson made were quite glaring, especially in light of what would be the next caller's objections to the Fairtax.

 

One, Johnson didn't correct the host's price increase. We must be honest in that the price in the host's…

Continue

In an earlier post on the debt ceiling, I asked if you could recall where you were when a “sentinel event” such as the bombing of Perl Harbor, assassination of JFK or the terrorist attacks of 9-11 occurred.  These incidents had a profound effect on life in America, for both our national psyche and for each of us personally. 

 

On August 2, 2011, without any…

Continue

As our unemployment rate hangs above 9% nationwide the loud cry for more jobs becomes more and more urgent, even angry—and legitimately so. The angry impatience of the unemployed and underemployed demands a practical response from government and industry; human compassion drives the rest of us to work for drastic improvement in the employment picture.

As Tom Braithwaite wrote... [READ FULL…

Continue

 

Acknowledgements:

Our country likes to thank our forefathers for the Constitution.

I applaud the thousands of patriotic Americans who are spreading the word so we can live in economic prosperity and uphold our Constitutional rights.

ARTICLE 1, SECTION 8 OF THE CONSTITUTION STATES THAT CONGRESS SHALL HAVE THE POWER TO COIN (CREATE) MONEY AND REGULATE THE VALUE THEREOF.

IN 1935 THE SUPREME COURT RULED THAT CONGRESS CANNOT CONSTITUTIONALLY DELEGATE ITS POWER…

Continue

The challenge of U.S. dollars being held in offshore bank accounts in an effort to avoid paying taxes on capital gains and interest has grown significantly in the past few years. Some estimates say that money is as much as $15 trillion (based on past data plus annual growth estimates) and is growing by an estimated $860 billion per year[2], resulting in billions of dollars in lost tax revenue every year. [… Continue

Imagine replacing over 70,000 pages of purposely complex tax code, with a simple fair code that just barely breaks 130 pages in length. It's far more possible than you might think.



The FairTax replaces multiple forms of federal taxation with a simple 23% inclusive tax at the point of retail sale on new goods and services. This landmark legislation eliminates income taxes and payroll taxes [In other words: You'll get your entire paycheck]. It removes the regressive AMT tax, that's… Continue

The last few weeks have seen an unprecedented furor over fears that the United States would default on its obligations due to a failure to raise our $14.3 trillion limit.  As inconceivably high as that number is, the United States government considers it necessary to spend even more.

And while both sides fight over who will give on this point or that, the simple fact is that, if Congress were to pass the FairTax, not only would the whole Washington circus be unnecessary, we’d end up…

Continue