27 comments

  1. MSBassSinger says:

    Here are a couple of issues that I don’t hear talked about much. Maybe I am just missing the discussion wherever it is. 🙂

    1. The Republicans talk about repealing ObamaCare if we will put them in charge of Congress. Well, as long as Obama is President, no they can’t. What they can do, and all they need is control of the House, is to simply defund every ObamaCare line item. The House has the “power of the purse”, but these Rockefeller republicans don’t seem to want to use that. In fact, why not use the “power of the purse” on a wide-ranging set of line items to simply defund them?

    2. I propose that if we (and this works at the Federal and State levels) establish a flat 25% personal income tax, no deductions whatsoever, no taxes on business, on all levels of personal income, the deficit disappears. And, as a by-product, when the nearly 50% of the income earners who pay little or no income tax have to start carrying their fair share, the pressure on budget cutting will be tremendous. BTW, that works in Georgia at 6%. And, with no taxes on business, imagine the boon to the economy!
    http://msbasssinger.wordpress.com/2010/09/01/is-the-budget-problem-that-easy-to-solve/

    What say you? Anyone oppose everyone carrying their fair share? Anyone oppose getting rid of budget deficits? Anyone opposed to getting the government tax monkey off the back of business? Anyone really believe that anyone other than you, the consumer really pays the so-called business tax?

    • polisavvy says:

      Yippee! Finally, an open thread and someone willing to discuss the flat tax. I’m all for it. Good post, MS.

    • Charlie says:

      Virtually no one currently pays a 25% effective tax rate. Thus, you’re proposing the biggest tax increase in history.

      And you call others Rockefeller Republicans?

      • MSBassSinger says:

        I pay effective rates of 18.4% Federal, and 4.9% State. However, I also pay a lot of taxes through direct sales tax (eliminated) and indirect taxes (such as business taxes). The Federal budget I used includes Social Security, so I included my SS & Medicare taxes in my federal tax effective rate.

        And I am a middle class income earner.

        It wouldn’t mean much difference for me, and yes, I am for everyone paying their fair share. How does that make me a Rockefeller Republican?

        Looking at other sources, here are the 2009 numbers. Any way you cut it, if we all have to share the load evenly, we’ll see spending cut significantly.
        $3,518,000,000,000 – 2009 Budget (http://en.wikipedia.org/wiki/File:U.S._Federal_Spending_-_FY_2007.png)

        $12,015,534,968,000 – Total US personal Income, 2009
        (http://bber.unm.edu/econ/us-tpi.htm)

        • MSBassSinger says:

          From the “throwing gas on the fire” folder…

          Total US Personal Income when Bush 43 took office:
          $8,878,830,000,000

          Total US Personal Income when Bush 43 left office:
          $12,225,589,000,000
          An increase of 37.7%

          Total US Personal Income when Obama took office:
          $12,225,589,000,000

          Total US Personal Income after 1 year of Obama:
          $12,015,534,968,000
          An DEcrease of 17.2%

          Total Georgia Personal Income when Roy Barnes took office (1/11/1999):
          $201,937,985,000

          Total Georgia Personal Income when Roy Barnes left office (1/13/2003):
          $251,263,801,000
          An increase of 24.4%

          Total Georgia Personal Income when Sony Perdue took office (1/13/2003):
          $251,263,801,000

          Total Georgia Personal Income before Sony Perdue leaves office (2009 is the most current year for data):
          $332,091,131,000
          An increase of 32.2%
          (http://bber.unm.edu/econ/us-tpi.htm)

          Anyone want to guess what would happen after another 4 years of King Roy and/or 4 more years of Obama?

    • Erick's Mortal Enemy says:

      Now, how would you propose at the State level eliminating the income tax and moving directly to a consumption model?

      • MSBassSinger says:

        At the state level, that is far more difficult than nationally (and that is difficult enough). That is why I propose the flat tax first.

        A fair amount of Georgia’s population lives near the state border (Augusta, Savannah, Brunswick, the southern border counties, Columbus, etc.). If we have a consumption-only tax, that makes going to the border states to buy stuff very attractive. And how would we prevent that? Put road blocks on every dirt road and interstate crossing the state lines? I just can’t think of a way to make a consumption-only tax work in Georgia.

  2. Saw an ad for Mark Butler on TV the other day. I didn’t catch all of it, but looked like it was paid for by the state party since it listed other candidates (Sam Olens being one) at the end. Anyone have any color on this?

  3. saltycracker says:

    Anyone know a good lawyer to help us shift personal income around the world:

    Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda.

    Google’s income shifting — involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” — helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.

    http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html

    • B Balz says:

      Great post. I’d love to see loopholes, ‘corporate welfare’,etc. issues all resolved prior to a flat tax discussion.

    • B Balz says:

      Get thine own house in order:

      http://www.ajc.com/news/atlanta/buckhead-cvs-robbed-for-687025.html

      Buckhead is nothing more than a large hole, due largely to the fact that all the cool clubs went all ‘hippity-hoppity’. Unfortunately, the patrons started shooting one another, and civilians.

      Righteously indignant, yet not too indignant to profit, Buckhead leaders enforced parking regs and closed down a lot of bar businesses, putting a lot of people out of work.

      I hope Ben Carter’s “Rodeo Drive of Atlanta” happens, and happens fast, but many will miss OUR Buckhead.

    • Three Jack says:

      “What is it with people with no control over their own lives seeking positions of authority over others?”

      what other reason is there to run for public office?

  4. saltycracker says:

    Cracked me up too –
    Flat tax ? …..when the politicians get done morphing “flat tax” with thousands of pages of variances and exemptions and definitions it’ll make the drive to Hana look like the beeline….

    We’ll define flat tax right after the public pension programs are made financially sustainable……oui ?

    Whatever it is…..what the public & business world needs now is some clarity in just what tax structure they will be looking at in the decade ahead…..

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