It’s only politic to consider drilling on 3 per cent of American soil, the overwhelming majority of which is already saturated with oil wells or bereft of oil resources. Drill into a vast oil reserve under the frozen tundra? That’s terminally impolitic and increasingly so. Think about the alleged damage to the mating habits of the highly endangered common biting mosquito cloud. And then there’s global warming.
I propose a 45% across-the-board flat income tax with no exemptions, adjustments, deductions, credits, or other reductions. Such tax would displace both payroll and income taxes. Okay, perhaps we might allow some common deductions, allowing perhaps $10,000 tax-free earned income, $10,000 tax-free investment income, and $25,000 tax-free entrepreneurial income per person so as not to hurt the poor. No loopholes—the system works because it’s simple and predictable, not because it’s cheap and corrupt. If Congress balances the federal budget and pays back one-tenth of the debt, then we can lower the rate, further stimulating the economy. If the Congress spends more money than revenues flow into the treasury, then the rate increases automatically.
Tax cuts aren’t going to help the domestic economy... we have too many foreign corporations and governments looting it now, and tax cuts won’t stop them.
1. You are engaging in "central planning."
2. You are institutionalizing "free trade."
3. You don't have the money to "pay" for it.
4. Your charge card is "maxed."
5. You are doomed.