I agree that the Buffet Tax is a great starting point, as both he and President Obama state.
Both say it is horrible that Mr. Buffet pays less (Cap Gains rate of 15%) than his secretary, plumbers, teachers, you & me, et cetera.
So, I call for an immediate Buffet Tax Rate of 15% be applied to every American.
It's a starting point.
Kerodin
III
Agree for a flat tax for every voting citizen. However, I think a constitutional amendment calling for balanced budget and overall size of federal govt hard and fixed limited by percentage of GDP is also in order. Govt could then grow proportionally (and stay proportionally small) with the economy, instead of in spite of it, as it does now.
ReplyDeleteI hope that will prevent outright reintroduction of tyranny for greater than 240 years, but I doubt it, if the people don't remain vigilant.
I agree totally. Flat taxes, no exemptions. At all. Not for kids, not for write offs. If we're gonna tax citizens, do it fairly. Problem is, due to the fact that half or more Americans pay nothing, it would be political suicide for a politician in certain areas to vote for this.
ReplyDeleteI just can't see Maxene Waters, Jesse Jackson Jr. or any of their ilk going for this. That's not counting those politicians who are influenced by those on the other end of the wealth scale.
On the other hand, reverting to some sort of protectionist/tariff trading posture as we used to have would fund a small government as well. Too small for most people's comfort, I'd wager.
There are many options available, but few are realistic or feasible in the crony-capitalist, parliamentary, "I've gotta get mine", lecherous society we've largely become.
AP
Flat tax - absolutely. Along with a return to constitutional money; it doesn't have to be a gold standard, but any kind of commodity that you just can't print (or digitize) into existence. Gold just happens to be the best.
ReplyDeleteHerman Cain is saying something about a 9-9-9 plan, which almost makes sense, except one of the 9s is corporate tax, which consumers end up paying. The other two are flat income tax of 9% and nationwide sales tax of 9%.
Flat tax, good idea, 15%......I dunno if that much is really needed.
ReplyDeleteCut the size of the Fedgov, drastically. We do not need half of the agency's or programs that we throw FRN's into.
Bring back real money, not instruments of debt.
Operate within a balanced budget. I do, why not the Fedgov?
Bob
III