I keep hearing otherwise, but if I have exaggerated that number, I can admit it.
I wouldn't want to ever mess with the motive to make a profit.
I can even support a fair tax and a simplified tax code.
But in time, we have become hostile toward the worker.
It was unheard of not too long ago that corporations would play the market for tax incentives and relocate wherever the going was good.
In practice, I cannot blame the corporation to some degree. But to the point where they are evading taxes and shipping out all of our jobs ... no president can create jobs when the conditions are so hostile.
Should states have the right to compete for corporate HQ? I guess they will have to make themselves competitive.
Our current brand of capitalism is drying us up and it's not just other states beating out Illinois and Missouri. It's the other countries as well.
So I can see making the taxes fairer, but I do not believe lowering taxes is a good move right now.
10% fair tax would be way too low.
20% may be more like it...
But even if we fix the income tax, make it fair..
What about corporate taxes? What about these people who are taking in hundreds of billions in profits, when they cry foul that they can't make it without extra fees?
I am also concerned about the shenanigans on Wall Street.
Those shenanigans along with predatory lending are what really caused our economy to falter.
Somehow at this time, our poorest citizens are having a hard time finding a job, while these executive suits keep raking it in. The middle class will be gone soon.
We'll argue till Kingdom Come about 'Who Caused it?"
But how to fix it?
I don't see the tax rate anything more than a smoke screen.. It's propaganda to keep the masses supportive of an oppressive corporate regime.
If we don't hold corporations accountable, no matter who is in charge, then we're going to have to look to superpowers like Brazil, China, or the EU for help when we're vulnerable.
The people who make the most, keep making more. It's not getting to the people who need it the most.
I am not suggesting some socialist regime that takes away the profit motive.
But if the people who have gotten rich in lean times are not allowing the wealth to 'trickle down' ... then what is the use in catering policies to them.
I say make their corporations pay, and make them pay a fair tax. I would still lower the rate by a few percentage points for some family earning less than $10,000 a year per occupant.
However, it could still be a "Fair Enough" tax that streamlines these processes.
I would also end deductions for charities. While it sounds harsh for a 'Bleeding Heart' -- what is the meaning of the word 'Charity' in the first place? Is it charity if one has something to gain from it?
But because private schools are non-profits -- I am all for vouchers in that case. It's amusing that Public schools copy the private schools when they want to imporve standards or discipline. It's not government favoring religion -- it is allowing parents to choose and not pay for something they will not use.
on July 28, 2011, 8:46 pm, in reply to "