Pay Your Fair Share People
Isn’t that the big issue these days?! The government is trying so hard to get people to think that the rich underpay in taxes and that they don’t contribute enough into the system. Has anybody ever heard this come from the mouths of the public before? The more people benefit from the system the more they should put back in. The assumption, supposedly is that it was the system that allowed this rich person to achieve their level of success so it’s the person’s duty to give back some of what society “system” gave to them. Unfortunately, this has come in the form of an unfair oppressive income tax. We know that this has been on the minds of many of you lately. Some are concerned about the massive checks that they will be cutting to the IRS and others are happy that they overpaid in taxes throughout the year. Whatever the case might be, the income tax imposes an aggressive burden on those who make money to in all actuality get much less in return.
Warren Buffett, which by the way is being used as an absolute tool, always makes it very clear that he pays a lower interest rate than his own secretary does. It seems like such a compelling argument, but when scrutinized and understanding that he is paying millions of dollars more in taxes than she is, and is therefore overpaying by a lot to receive much less back from the things that his taxes go to paying for.
If we are going to take or accept any form of tax, it would definitely be in the form of usage, property, and local taxes that go to paying for things in your community. But not a pay by percentage Income Tax. The idea would be that it is something that you pay to fund the things that you personally benefit from. Of course even in this setup there will be fraud from the powers that be, but at least it would be in a smaller more controlled environment that will be taken from you out of the things that you consume. This is actually what makes the income tax so oppressive.
Imagine if everywhere you went and everything you did was charged based on your income. This would include walking into Chili’s and them asking to look at your income and giving you their standard menu with upward price adjustments to correspond to your income. Or how about renting an apartment with 2 other roommates and each of you paying for equal usage of the unit based on how much money each person makes. The person who makes the least pays less and the person who makes most carries the largest share. In both of these examples, most would see in plain light that it is just not fair. The discrimination based on income is wrong and a mere distribution of the person’s hard earned money.
Now it gets worse when you actually get into the operations of the government. The statistics show that about half the people in America aren’t even paying taxes. Unfortunately, in most cases, these are the ones who are getting the most from the government by leeching from the system in the form of entitlements, social programs, and benefiting from the system where taxes come from other people. The flip side is that the taxes from those who actually make enough to be taxed, chances are the benefit they receive from the system is much more minimal. Of course things like government grants to go to school, entitlements, and other social programs are taken away from the majority of people who pay taxes and given to many that don’t.
CrushTheStreet.com has been thinking a whole lot about the tax system lately and is really encouraging those taxpayers who are out there to do what they can to peacefully make the injustices known and to help move the system into the right direction.
News the Way We Like To Report…
Ben Bernanke is on a mission to make sure that the economy doesn’t fall apart in the near term. His words to the Senate Budget Committee were, “Congress should focus for now on economic growth rather than the budget deficit.” “Abrupt action to reduce the deficit in the next few months could seriously damage the recovery,” Bernanke said. In other words, let’s prolong any sort of disruptions until after the election is over. Well, we like to read between the lines.
As thousands of Greeks walked off the job in a general strike on Tuesday to protest stringent new austerity measures, there was a growing sense that the country was reaching a critical point in its efforts to survive the debt crisis. Greek political leaders postponed for yet another day a decision on an austerity package – including 20-percent cuts to base pay for workers in private companies and a loosening of public sector job protections – in exchange for the billions in loans Athens needs to prevent a default in March. With elections looming as soon as April, the parties fear that they are essentially being told to commit political suicide to save the country. With unemployment at 19 percent, businesses closing, credit scarce and the proposed new wage cuts expected to further decimate the shrinking middle class, the hard left and extreme right are rising. This is very typical in times of crisis, people resort to desperate actions and measures. Especially during economic calamities, citizens of countries are very likely to surrender the powers to the government and do whatever is necessary to meet their needs now regardless of the consequences.
The housing market still hasn’t had much self motivation and movement. Banks are actually creating their own incentives for people to take their inventory off of their hands and minimize their losses. Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe. Losses for lenders are about 15 percent lower on the sales than on foreclosures, which can take years to complete while taxes, legal fees, maintenance and other costs accumulate, according to Moody’s. The deals accounted for 33 percent of financially distressed transactions in November, up from 24 percent a year earlier, said CoreLogic Inc., a Santa Ana, California-based real estate information company.
King World News reported that the actual unemployment, including discouraged workers, is now 22.5%. This is a staggering number when you consider that the official reported number is actually dropping lower and lower as more people are falling out of the official workforce.
Did anyone else notice that something really suspicious happened during the Nevada election? First of all, it took 3 days to count all the votes. In 2008, Ron Paul had 6,087 votes, and this year despite the massive momentum that he has generated, he only got 6,175 votes. This raises some serious suspicions as to what the agendas of the people who are counting the votes are.
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The warfare from the government and people is beginning. The FBI are calling those who oppose taxes and regulations extremists and essentially home grown terrorists. The worse things get and the more the government grows, the more people will oppose the actions that they are doing. The ones who exercise free speech and oppose the reckless leadership will be accused by the powers and controlled by big brother. Stick to your beliefs and stand up for what is right.
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