Although this will undoubtedly help the economy, it does add another layer of complexity to the tax laws. Here's what we really need.
The Rats are being slayed in their holes.
Hows that for a mixed metaphor.
Talking about fairness, this is another example of well-thought-out plans from this administration for all people.
I can think better ways to tax, why bother with an "income" based tax at all. Income based taxes are intrinsically unfair in that they target the contribution of citizens to the nation as opposed the benefit derived from the nation.
John Linder (R Texas) offers a comprehensive bill to kill all income and payroll taxes outright, and provide a revenue neutral replacement based soley on consumption:
H.R.2525
SPONSOR: Rep Linder, John (introduced 07/17/2001)
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.
Refer: http://www.fairtax.org & http://www.salestax.org
Wait'll "W" proposes to eliminate the "Death Tax" in its entirety. And sooner than 2010.
Cannardly wait to see the Liberal/Socialist/Marxist Bastards bloviate and froth at the mouth over this one.
Shoot, before he is done with his tax agenda, the US may, just may, mind you, have a brand new tax code, fit for a modern society in the 21st Century. Why, he might, !GASP! even replace the income tax with a National Retail Sales Tax and abolish the IRS!
Lets Roll, "W!" I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man. [Thomas Jefferson, letter to Benjamin Rush, 1800.]
We will never be a truly FRee people so long as we have the income tax and the IRS.
Click here to help us scrap the Code, scrap the IRS and abolish the VLWC!
We will never be a truly FRee people so long as we have the income tax and the IRS.
You can also click here to sign a petition in support of Fundamental Tax Replacement.
We will never be a truly FRee people so long as we have the income tax and the IRS.
The reasons for this are simple: Job growth, new products and innovations come primarily from small, fast-growing companies - exactly the kind that don't pay dividends.
This is BS. Utter mentally incompetent BS. Companies don't pay dividends because dividends are taxed.
Now when that tax is removed from corporations, some bright and greedy grifters of CFOs, CEOs and propfessional corporation boosters such as marketeers and flacks will sell "Rosy Scenario" for a premium. It says we can invest your return better than you can. What does that nearly always come to mean? Think about it.
And remember NOTHING prevents an investor from buying more stock in that company with his dividend payment, or even from stopping the company from setting up an automatic dividend re-investment plan.
This, me mates, me buckos, is a robber's litte easter egg of a gift emplaced in a law.
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And say, look at the "class warfare" all over the following justification for this theft:
If you give big companies an advantage over them, you kill off much of the economy's dynamism.Big companies, big is bad, eh? Propaganda targeting the mentally weak wacko liberal set.
And it continues ... moe pitching that liberal wacky, "magical thinking" mindset:
But how can you continue to encourage those companies to do their wonderful economic magic and still make the tax code fairer?
I hate to throw cold water on the idea, but the concept of indexing capital gains was dropped because of the complexity of doing the calculations over multiple periods of time. This proposal, which will substitute a multitude of "indexes" for a single one, will be completely unmanageable.
Dubya is extraordinarily intelligent on many, many levels. The democrats are trapped by their own rhetoric and propaganda that this Harvard Graduate School of Business alumnus is some kind of hick moron.
I hope they remain self deluded, always to be outwitted like Wile E. Coyote by the Dubya Roadrunner. BEEP, BEEP!!!!