It Sucks Productivity

December 31, 2010

Yea, my taxes aren't going up tomorrow!

Starting tomorrow everyone is happy. The Obama Tax Increases didn’t happen – at least for 2 years. That’s all we bought after monumental debate and historic legislation heralded as bipartisan cooperation~ finally, on Obama’s part.

You can still hear the griping though from those who say the wealthy pay too little, when in fact according to Business Insider, the top 10 percent of earners pay about 71 percent of all the income taxes collected. And our current tax system exempts almost half the country from paying for programs that benefit everyone like national defense, public safety, infrastructure and education. That’s right, 47% pay no federal income tax at all.

But to be fair even those who escape federal income taxes still pay a heap other taxes, including federal payroll taxes for Social Security and Medicare, and excise taxes on gasoline, aviation, alcohol and cigarettes. Many also pay state or local taxes on sales, income and property.

So we’ve got 2 years gang to push from the bottom up for tax reform. Otherwise you’re gonna see a repeat of all the class warfare, special tax deals for special friends of politicians, union vote for tax credits to certain groups and special treatment, etc., etc.

Bottom line, we as a nation spend too much time and money trying to either comply with or avoid taxes. It’s a mega-productivity drain. So let’s look at 5 simple but radical ideas from Kevin Boyd of Liberty United to reform our tax code.

1) Create a simple, two-bracket tax system with only three deductions: 8% on the first $25,000, and 14% on the rest. The only deductions: a $6,000 standard deduction ($12,000 for married couples), a $4,000 exemption for dependents who don’t file their own tax returns, and all taxpayers would be able to claim charitable contributions up to 35% of adjusted gross income. Period –no other deductions.

2) Create a minimum tax in order to reduce non-paying filers. There should be a minimum tax that everyone pays. Get some skin in the game and suddenly you’re more cognizant of where our tax money goes.

3) Reduce the corporate tax rate to 15%. It’s currently 35% so you’d see businesses and jobs come back to the US and competition would soar.

4) Abolish the capital gains tax and taxes on savings. This would free up capital, funding expansion and encourage people to save more.

5) End withholding. Americans don’t know how much they really pay in taxes. If we had to write the checks directly to the IRS quarterly, we would have tax and entitlement reform immediately!

Aloha, Mikie

Hasty Retreat -The Feds Got Caught

August 4, 2009

I’ll bet you didn’t see this tasty tidbit anywhere in the mainstream media, but there’s more than a few reasons NOT to extend the CASH FOR CLUNKERS program. Never mind that it’s just another bailout. You know we’re all sick of those -until it’s something we want.

“Yeah, I was going to buy a car anyway. Mine gets crappy mileage so why not take a ‘free’ handout from the government?”

But what people don’t realize is the open sesame to blatant intrusion right into our own computers when accessing the website. This was not covered by mainstream media or  their blogs, but a ‘Constitutional Watchdog’ saw it when logging on to and reported it to Fox News. They went right to the White house to inquire about it and were told they were “re-working the language”, and then low and behold the access disclaimer disappeared completely from the website, begging the question, are they still accessing the info but not telling you? And what about the computers they already invaded before they got caught?

By the way, this program was so well thought out it was supposed to last through November and it ran out in less than a week! How’s that for government planning and accurate projections? Think Medicaid and Medicare, Health Care Reform and Cap & Trade and other government programs if you decide to accept government cost estimates as the real deal.

And what real good does it do American car companies? Did you know only 47% of the Cash For Clunkers trade-ins went for cars sold by Detroit’s Big-3? The rest went to foreign car makers.

But the most frightening thing about Cash For Clunkers is it gave the government a chance to wedge their way into your computers if you were a car dealer using the program or if you were a customer who’s data was entered into those computers. The Feds now have legal access to that information. Watch this video and see what I mean. THIS IS FRIGHTENING! It’s beyond frightening and America, you better wake up!

Aloha, “Mikie”
Now Get Off Your Butts!
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