Thursday, September 11, 2008

Taxes and How To Fix Things

The politicians are talking, but either they really don't understand, or they really don't care.  I'm not sure which, but I heard Sen. Dodd say that he was frustrated and wanted to "know more" about the Freddie Mac & Fannie Mae bailouts, and yet he's the head of the banking committee and helped write the law that allowed those bailouts.  He's the one that wrote things up so they were allowed to make those irresponsible banking practices and the CEOs get to keep their millions.

On taxes, almost half of the people you see on the street every day, actually don't even pay taxes (they are refunded everything they pay in); and they don't care that the system is screwed up.  Obama wants to actually give these people a tax refund, which is actually taking money out of hard-working Americans' pockets to give to these folks; essentially buying votes for himself with our money.

Now if they really want to solve the tax problem, they don't need to increase capital gains taxes.  If anything, they need to reduce them.
I'll explain.

Literally, a million jobs (over that) have been off-shored.  Can we not bring these jobs back?

Literally billions of dollars have been off-shored to avoid taxes.  Can we not bring these back by lowering the taxes that motivate this off-shoring, as well as removing the loopholes that allow it?

There are  over 66,000 pages in the tax code.  Why is this?  It's too much for the IRS, itself, to keep track of, but I guarantee you that the big money guys have accountants and tax attorneys that can keep track of it; and they're using it in their favor.

If you want to fix the economy and if you want to fix taxes, don't raise taxes the 50% that are paying taxes already, but close the loopholes (and maybe ease taxes for some of us)  and they'll get more tax revenues in the process.

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