December 22, 2017
I thought I should give you some encouragement on the tax reform bill as by now if you’ve watched the Lame-street Media you’ve been inundated with all the bad that’s gonna happen because of this “GOP Tax Scam”.
Hat-tip Ben Shapiro of The Daily Wire, when Ireland lowered its corporate tax rate from 40% (wow!) to 12.5% in 1995 it resulted in a whopping 23% GDP growth. Ireland benefited greatly with over $277 billion worth of U.S. direct foreign investment. Now those companies can come back home to America.
What’s more, the tax reform bill is like a giant “permission slip” to companies holding profits abroad to repatriate that money. Under the old tax plan they would be taxed 35% when bringing profits back to America -ouch! Under the tax reform they’ll be taxed at new ultra-low rates: 8 percent for profits invested in real estate and other hard assets abroad, and 15.5 % for profits in cash and stock and other liquid assets.
This makes it affordable for Apple to repatriate the $252.3B cash it currently holds overseas. Apple would be able to take advantage of a one-time tax break, paying just 15.5% tax on the cash, rather than the 35% it would have had to pay previously. If Apple decides to make the move taking advantage of the one-time opportunity and brings all their hoarded cash back to the US, it would pay $39.1B in tax!
Now that’s no small potatoes Nancy & Chuck-U. 15.5% of something is better than 35% percent of nothing!
Aloha, Mikie ~just a blogger (fightin’ like a girl)
~Psst, tired of politics? Check out Travel in the Categories drop down menu (right side panel) for my blogs posted from interesting locations during my travel adventures.
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!
April 6, 2011
This is one of the simplest explanations I have come across on the FairTax. Please check it out and pass it on.
Our economy will not improve unless and until we get meaningful tax reform!
Be sure to see the Tax Reform Category (on the right side panel) to raise your tax reform IQ!
~PS check out the new page I recently added to this website at the top right under Get Off Your Butts, titled Heed This Warning.
February 25, 2011
Kentucky Senator Rand Paul said,
“Americans pay more in taxes than food, clothing and housing combined!”
And not only Americans, this cancer has its tentacles worldwide. What’s the big common denominator in all of it? Cut off the blood supply to this beast.
Choking the unholy alliance between unions and government and enacting real tax reform are the keys to fiscal balance and economic prosperity.
We would have guaranteed tax reform within a year
IF . . . . . . . . . . . . . . . . . .
we got the unions under control, AND if every member of the Senate Finance Committee and House Ways & Means Committee had to fill out their own taxes by hand.
Here’s a start. Use these names and this website to contact the Senate and House subcommittee members to make this tax reform suggestion!
And be sure to see my Tax Reform Category (on the right side panel) to raise your tax reform IQ!
February 17, 2011
Yesterday’s Daily Caller reports:
The Internal Revenue Service says it will need a battalion of 1,054 new auditors and staffers
and new facilities at a cost to taxpayers of more than $359 million in fiscal 2012 just to watch over the initial implementation of President Obama’s healthcare reforms. Among the new corp will be 81 workers assigned to make sure tanning salons pay a new 10 percent excise.
Does this look like a president who now understands what ‘We the People’ want in the way of deficit reduction? If this isn’t a case for a total tax reform I don’t know what is. Do you think the IRS came out with this on their own? I doubt it, they are at the beck and call of the administration which continually talks out of both sides of their mouth.
The President’s budget does not include a single difficult decision, yet he says he is willing to compromise and work with the House Majority. Where’s the leadership here? This makes them the villains when they do come up with the real substantial cuts necessary. It’s the same with the GOP being forced to shut down the government if they push for conditions on raising the debt ceiling.
First of all, everyone needs realize that shutting down the government is not a bad thing. It’s called Time Out!
Mitch Daniels, a likely GOP presidential candidate tells it like it is regarding doing the hard work of deficit reduction,
“When infinite demand meets finite supply, you have a problem.”
But even better, Daniels admits his fellow Republicans need to admit this too and get down to work. Just like senator Rand Paul says, it’s not just Republican vs Democrat, it’s can the country sustain that level of debt? Answer: Not even!
Please urge your Congressmen and women to get serious on the budget (and part of this is tax reform). All entitlement programs need to be cut (medicare, medicaid and social security) and there needs to be means testing to qualify for entitlements. Here’s all you need to do: find your state on this map and away you go!
February 6, 2011
Sorry gang, I missed my Tax Reform Friday edition so here it is:
Tax reform is one of the most important things we need to change in our government as it is a huge hole that continually
sucks production and capital out of our economy.
Be sure to see my Tax Reform Category (on the right side panel) to raise your tax reform IQ!