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Posts Tagged ‘taxes’

Why We Keep Losing Jobs

January 14th, 2010

There are several reasons for the continued job losses, and the economy isn’t the main one. This is from an article on CNBC, “A potential wave of new regulation and higher taxes may be scaring many businesses from hiring, prolonging any rebound in employment, say business groups and economists.”

Maybe if our congress would stop spending and taxing everything they can think of we could actually create some jobs. As noted by the 10.6 billion in revenue Intel had this quarter, the economy really isn’t that bad. Apparently somebody spent some money last quarter. Unfortunately, Congress and the White House think the answer to everything is to spend more money. The house just proposed spending 2.3 billion to create 17000 jobs. If you do the math that is $135,000 per job. That doesn’t seem to be a very good return if you ask me.

Between universal healthcare, carbon emissions, and random taxes just because they can, business owners don’t know what kind of costs they are going to have in the future.
“If these companies are in good enough shape to afford massive bonuses, they are surely in good enough shape to afford paying back every penny to taxpayers,” Obama said about the banks. Wait a minute, the banks did pay back the TARP money plus interest. GM and Chrysler haven’t paid them back, but they are excluded from this tax. What in the world is this other than favoritism for Obama’s unions. Remove the uncertainty and you will get your jobs. There is no need to continue wasting billions and trillions of dollars trying to help the economy. The only thing it is doing is creating a debt that we cannot repay, a debt that is going to ruin us.

Another problem we have is the constant extension of unemployment benefits. I am really sorry if you have lost your job, but there is no reason for unemployment benefits to last a year. The only thing this does is give people a reason not to go back to work. Our current unemployment is about 10%, but the real unemployment is closer to 17%. The difference between those numbers? The extra 7% aren’t looking for a job. That isn’t being discouraged, that is being lazy. If I can’t pay my mortgage and feed my family, you can be sure that I won’t stop looking for a job. This is the product of government handouts.

Let me know if you wish Washington would remove the uncertainty and get out of the way so this recovery can have a chance.

Congress Wants to Tax Your Pop

May 12th, 2009

Congress thinks it is a good idea to tax your pop (or soda, soda pop, coke, depending on where you live). I’m from Ohio, so it is going to be pop for the rest of this article.

This is what the WSJ says about the pop tax:

Senate leaders are considering new federal taxes on soda and other sugary drinks to help pay for an overhaul of the nation’s health-care system.

The taxes would pay for only a fraction of the cost to expand health-insurance coverage to all Americans and would face strong opposition from the beverage industry. They also could spark a backlash from consumers who would have to pay several cents more for a soft drink.

On Tuesday, the Senate Finance Committee is set to hear proposals from about a dozen experts about how to pay for the comprehensive health-care overhaul that President Barack Obama wants to enact this year. Early estimates put the cost of the plan at around $1.2 trillion. The administration has so far only earmarked funds for about half of that amount.

Health advocates are floating other so-called sin tax proposals and food regulations as part of the government’s health-care overhaul. Mr. Jacobson also plans to propose Tuesday that the government sharply raise taxes on alcohol, move to largely eliminate artificial trans fat from food and move to reduce the sodium content in packaged and restaurant food.

The beverage tax is just one of hundreds of ideas that lawmakers are weighing to finance the health-care plans. They’re expected to narrow the list in coming weeks.

What happened to not raising taxes on the 95% of Americans that make less than 250k a year? Much like the cigarette tax hike, this is straight out of FDR’s playbook during his New Deal. Politically, he couldn’t get away with raising income taxes on the poor, but he had to raise taxes to pay for all the socialist policies he was putting in place. Any of this sound familiar?

Obama has lots of socialist policies that he wants to enact. He has to pay for them somehow. The estimates for his health care are 1.2 trillion. He put about 600 billion in the budget. The costs will almost certainly be higher than the estimates, based on the greedy nature of people getting things for free. Look at what is happening at emergency rooms around the country and with the children’s health insurance in Hawaii.

Since there is a hole of hundreds of billions of dollars, Obama is going to have to find a way to fill it. That is going to be higher taxes for everyone and bigger deficits for our children and grandchildren to be saddled with. Those are the only two solutions, and these programs are going to be something we have to live with for a long time. Look at the failure that is social security. It is a Ponzi scheme that is so much bigger than anything Madoff did.

Author: Derek Clark Categories: General Politics Tags:

What is the Flat Tax?

March 8th, 2009

What is the flat tax rate plan for income taxes? It is a much more fair way of taxing people than the current progressive tax. It is a competing idea with the fair tax as a replacement for the current joke that is our tax code. The flat tax is a single percentage that everyone would have to pay. Under the proposal by former Congressman Dick Armey, that rate would be 17%.
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Author: Derek Clark Categories: General Politics Tags: ,

10 Pros and Cons of the Fair Tax

January 29th, 2009

The idea behind the fair tax is to eliminate the federal income tax and replace it with a national sales tax. There are some strong opinions on both sides of the fair tax issue so I thought I’d share a few of the pros and cons. It is not a flat tax, though I think that would be more fair than our current system as well.

1. Pro: The fair tax is much easier to understand than the current convoluted tax income tax system. When an entire industry (tax accountants) has been created to understand paying taxes, there is a problem. The picture below is Representative John Linder holding the 132 page Fair Tax Act in contrast to over 60,000 pages of U.S. tax code.
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How The Current Tax Code Harms The Lower Class

January 25th, 2009

It’s that time of the year again. The time of year where all of our hearts can be warmed by the knowledge that some of our hard earned dollars must be sacrificed to support the people who spend absurd amounts of that money on everything from lavish lavatories to bailouts for industries that are mismanaged and under performing. Thats right, it’s Tax Season!

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