What About Tax Reform?

June 1, 2011

So much blather about the debt ceiling, but without spending cuts and major TAX REFORM that’s all it is -talk. This bears repeating until the nimrods in Washington get it. There are a lot of reasons (power, greed and favoritism to name a few) for them not to get it, so it’s up to us. We will never have any real economic recovery without tax reform.

Here’s what some people like about the FairTax:

  • Yo – drug dealers and politicians paying their fair share? Revolutionary!
  • Politicians like to talk about redistributing the wealth, I like talking about redistributing the power.
  • Hey, that full paycheck looks good on you!
  • It will eliminate all taxation for the poor via the prebate.
  • Under the Fair Tax I could buy you a drink and do your taxes at the same time.
  • Level the playing field. Everyone is a consumer. Everyone is a taxpayer.
  • Not even the politicians can get out of paying under the FairTax.
  • Would you like to keep your entire paycheck and pay taxes when you want to?
  • How would you like to have FICA, Medicare & Federal Tax withholding put back into every payday?
  • Want to hear that rushing-wind sound of jobs coming back to America?
  • The Fair Tax…eliminates the underground economy.
  • I love it. Every international tourist or visitor contributes to our economy!
  • FairTax: A plan even Charlie Rangel can understand!
  • Fair and Simple.

Support H.R. 25 and ask your representatives to too! Be sure to see my Tax Reform Category (on the right side panel) to raise your tax reform IQ!

Aloha, Mikie


Heaven Forbid the Feds Should Miss a Holiday

April 17, 2011

Emancipation Day celebrated only in Washington D.C. fell on Saturday, April 16th, which if celebrated yesterday would have caused the feds to heaven forbid, miss a holiday! Can’t have that. Hence the April 18 filing deadline this year.

I’ve been an habitual extender. Face it for normal people (unlike General Electric, Boeing or other friends of government), tax time is a major pain in the butt.

Tax compliance has become so onerous, expensive and time-consuming, it’s ‘national dread day’.

Until we pass the FairTax! Check it out:

  • Federal personal & corporate income taxes, estate taxes, gift taxes, capital gains taxes, the ATM tax, Social Security and Medicare taxes plus self-employment taxes all go away and are replaced with a simple, national sales tax on new goods and services
  • 67,000+ pages of tax code, vs 133 pages in The Fair Tax Act
  • Spending $3 trillion to figure out taxes every year vs looking at a shopping receipt
  • Politicians and lobbyists playing favoritism with exemptions and social engineering vs one clear rate for all Americans beyond the poverty line
  • Regressive payroll taxes off the top of your earnings vs not paying taxes on necessities
  • Paying the IRS before you see your paycheck vs pay-as-you-go taxes only on what you choose to spend
  • Declining Social Security solvency vs a strong base of revenues and cost of living indexing for seniors
  • IRS intrusions vs simple cash register payments
  • Criminals & foreign visitors not paying taxes vs everyone paying national sales tax on all new goods and services purchased
  • US manufacturers at a worldwide tax disadvantage vs eliminating corporate taxes giving American businesses a huge competitive advantage
  • Trillions of dollars held offshore due to high US taxes vs tax-free investments back into our economy
  • Continued loss of jobs to China, Mexico, India vs the ‘Made in America’ label

Get to FairTax.org and sign up for their very informative email newsletter. Get smart, simplify your life.

Aloha, Mikie


Special Tax Favors

January 14, 2011

Over the last 5 days I wasted a lot of time doing GET taxes for the State of Hawaii (for the privilege of doing business -ha!) and Federal and State Estimated taxes that are due on Jan 20th. I hate it!

Most people probably wouldn’t admit it, but I’ll bet everybody is or has been at one time or another a little bit intimidated by the IRS or State Tax Dept. Naturally those in thick with the politicians who have the proper amount of influence and willingness to grease the skids, aren’t intimidated by the IRS because they’re used to having the tax code modified (600 changes in 2010 alone) to favor their personal or business situation.

A quick Google search -key words “special tax consideration” netted me 7,460,000 results in 0.10 seconds. Is it any wonder that by the IRS’ own admission, our tax code now has 3.8 million words, which would fill 11,045 single-spaced pages? And compliance is expensive! FairTax.org estimates citizens and businesses spend about $300 million every year to figure out our taxes!

If you don’t qualify for special tax consideration, here’s some friendly advise.

There’s a better way -Simplify the Tax code!

It can be done but not without a lot of Americans like you and me writing Congress demanding tax reform. Here’s how to contact your Congressmen and women and here’s a list of all US Senators. They’re waiting for your call (with special operators standing by -NOT). The truth is you have to be persistent, leave a message with their staff and tell them you expect them to support tax reform to help get the country and the economy back on track.

Get informed be a part of the change we so desperately need.

Be sure to check out the Tax Reform category (in the right side panel) to raise your tax reform IQ!

Aloha, Mikie


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