Wednesday, July 31, 2013
President Pitches Tax Rates – Highest for Small Businesses – the Rock, the Hard Place, and the only way out – Tax - We the People Need a Third Party.
From the Weekly Standard reporting on a New York Times article one finds the Presidents new tax plan that may be the next great idea to find funds, involved a corporate tax rate of 28 percent, and a small business tax rate of 40%. What one wonders is why there is not a flat tax rate across the board, which would be simple, and insure that everyone had some “skin in the game”, so to speak.
The fact that, despite tax hike after tax hike, whether on a federal or state level (See Massachusetts!), it appears there is never enough at the end of the day to prevent yet another tax hike. This is despite the fraud, abuse, and blatant mismanagement of funds, regardless of the political entity involved. At this point in his tenure as President and considering there is no step up (as we don’t, as of yet, have a Supreme Leader), the President can pitch anything that sounds good to him, and to the crazy progressives, and the rest – be dammed.
If he were truly interested in the historical aspect of his legacy, perhaps a stab at doing something novel would work – instituting a no-tax-loophole, across the board business tax and an across the board individual tax – one tax, not 20 taxes, or fees, or call it what you want that takes money out of the pockets of those who work for a living, regardless of income. A reasonable tax rate that would ensure the government has a supply of money to throw away, while the balance continues to prosper and give them – more money.
Massachusetts recently passed a transportation bill which included taxes on Cigarettes, gasoline, and computer software services. One can get a grip on the Cigarette Tax, with 19% of all adults smoking (CDC) that additional $1.00 tax per pack should generate some income for the State; the gasoline tax is now one of the highest in the nation at 24 cents per gallon, the cigarette tax (an excise tax, which has been taxed, is at $3.51 per pack), and they added a computer software tax. This tax is on IT services, as far as anyone can tell. The Mass. Legislature passed the tax, without fully spelling it out, giving it to the Department of Revenue instead, so they might right the rules (Miami Herald).
The transportation bill, or yet another transportation bill, is one which is vested in the never-ending Big Dig, the upkeep of those toll-takers on the Mass. Pike, and well, allegedly a high speed rail at some point in the future.
These latest MA taxes are on top of increases in the state sales, and income taxes, as well as fee hikes on everything you can image, including telecommunications, cables, cell phones, the family dog. It’s Deval Patrick on tax-steroids, aided by a willing legislature.
Deval Patrick, if one needs to be reminded, was the “test” for Barack Obama, both were mentored by David Axelrod, which, that should speak volumes as to the level of incompetence that has been unleashed on the nation.
Of course they mean well, they just don’t have a clue as to how to actually run the country, or a state, but who does? Surely the American Public can do better than it has in the past several decades. Not since Reagan has there truly been a bi-partisan leader, who was more concerned with how things would get accomplished rather than lining the pockets of his corporate friends. It is one of those rare individuals that one is hoping comes out of the woodwork. Someone who is smart enough to hire the right people to help them.
Until then, the lunatics will continue to run the asylums and the rest of us will be in continual awe of the incompetence – well, those that are not considered low-information voters. Between the State and Federal burden, families are struggling like never before, those on fixed incomes such as pensions/social security are feeling more than a pinch- the poor got poorer, and the middle class has almost evaporated. It is, the second coming of Jimmy Carter, and what is most disturbing, is that the general public, decided to give that style of government one more term!
Go figure – one has to love this country, despite the ups, and the downs, as there is always hope that the next time, we’ll get it right – as of yet, there’s not a single individual on the horizon from either party that offers much hope. Perhaps a third party is what is truly in order, one that has no friends on K Street (lobbyists), or family at the same address, one who’s sole intent is to manage the nation, rationally. Holding one’s breath is not advised.