A plan to Balance the Federal Budget and Restore the Economy

[Cancel 2016.2]

It is time for this country to become fiscally responsible. The national debt has increased every fiscal year since 1960. What has happened to the responsibility of the two parties? Both like to point the blame at the other, but in reality neither have been responsible fiscally. It is time for a change. Let’s begin with our tax code. It should be simple enough that the average person can understand it. It should not be filled with thousands of loopholes and deductions. Let us push for the flat tax with a standard deduction and nothing more.

Start with a standard deduction of $30k (adjusted for inflation annually) for each adult and then tax every dollar over that $30k at 20%. This is simple, easy to understand, fair and progressive. It protects the low-income individuals and couples from paying federal income taxes. It provides the middle-income families a lower effective tax rate than the wealthy. This plan would encompass ALL income, including earned income, capital gains and dividend income.

A person making $30k pays an effective rate of 0%.

A person making $50k pays an effective rate of 8%.

A person making $100k pays an effective rate of 14%.

A person making $200k pays en effective rate of 17%.

A person making $1mm pays an effective rate of 19.4%

Everyone has the same deduction and takes it. Which causes the effective tax rate to increase the more you make.

To reduce the national debt I would propose we add an additional temporary bracket to the flat tax. Every dollar over $500k (again adjusted for inflation annually) would be taxed at 30% rather than 20%. The additional 10% would be mandated to pay down the debt.

It is our responsibility to pay our own way and not dump trillions of dollars of debt on future generations. We need to begin electing leaders that are fiscally responsible. The future of our nation depends upon it. We are our own worst enemy. It will be our ever-increasing debt that leads to our demise. We must act now.

I wrote the above back in 2008... sent it to my Senators each year since...as well as to my Rep. Funny how I never get a serious response.

I did alter it slightly on suggestion from Dung to the $500k (I originally had it at a million)... bottom line, it is the framework I propose, the numbers made need tweaking.

I also stated that there would be no corporate income tax as the corps income would be taxed as it came out in dividends, capital gains or salary/benes for the employees.

 

[Big Money]

I'll find examples when I have some time.

"Some examples"?

So you can't prove your broad-brush claim.

 

[The Dude]

Fuck that supertool
I like about 4 percent on 100,000 not 14

 

[Canceled.2014.1]

"Some examples"?

So you can't prove your broad-brush claim.

Some numbers to show my claim is valid.

 

[Big Money]

Some numbers to show my claim is valid.

Those must be some numbers to prove this:

Since OSHA was created the workplace deaths and serious injuries have dropped every year.

This will be fun.

 

[Anti-Party]

Tea partiers against the tax code!
They are too poor and stupid to use it properly.

'

You are ignorant in EVERY post.

They are stupid, you were correct there.

But they are the same stupid as you.

Our tax code has issues, that is fact.
Our citizens that think it doesn't have issues, that is fact.

 

[Robo]

Are you going to eliminate the Dept of Labor twice?

Several of those depts are needed. Obviously education is something the gov't has a vested interest in. Also, eliminating the dept of Labor would eliminate OSHA. Now you may imagine corporations have a heart of gold and will take care of their people, but the facts show a very different reality.

Actually Goober education in America was at its best when it was controlled at the most LOCAL level. Only as State and Federal governments got more and more involved in education did it begin to fester into the bloated, expensive, incompetent cesspool of lower learning it is today.

Actual facts will show that OSHA is just another federal bloated, bureaucratic, incompetent waste of taxpayer’s money. Unions have done way, way more for workplace safety than OSHA ever even thought of doing. Workplace safety is one of few attributes that can be credited to unions.

 

[Robo]

(1) End all subsidies

(2) Eliminate the Department of Housing and Urban Development; the Department of Education; eliminate the Department of Labor; eliminate the Department of Energy; eliminate the Department of Labor.

(3) Pass a balanced budget amendment.

(4) Eliminate the current tax code and supplant it with a consumption tax (Fair Tax). This would also cause a significant reduction in the size of the IRS and Congressional staffing levels.

(5) Hold current spending levels at $3 trillion for the next five years, or until the deficit is completely eliminated.

(6) Instutute term limits on Congress: Three terms for House members and Two terms for the Senate.

By implementing these plans, the deficit would evaporate in 3 to 5 years and the economy would be in full recovery above and beyond previous levels.

Unfortunately, the leftist media would attack anyone proposing such initiatives in their typical Marxist clamor for the poor, and the politicians on BOTH sides of the aisle would resist it with all their might because it reduces their power and ability to buy votes.

In addition, as President I would campaign for electoral vote reform in all the states so that there would no longer be a winner take all, but replace it with an allocated system giving voters more of a say in elections and making States that have been completely ignored in the current system relevant again.

The days of watching Ohio, Florida and Virginia decide all our candidates has become old and tiring.

Elect only politicians that won’t be bribed by Wall Street and other special interest.

Elect only politicians that actually honor their oath of office to preserve, protect and defend the Constitution of the United States.

Elect only politicians that believe in and promote the strict construction of the Constitution.

Phase out every unconstitutional federal socialist “victim/entitlement” vote buying bribery scam.

Reduce government back to the size and scope authorized by the Constitution.

Reduce the Military Industrial Complex to a defense only posture, eliminate our World Police Force and Nation Building Folly.

Withdraw from the United Nations and charge them rent on the use of our property.

Abolish the federal reserve bank and put America back on the Gold Standard.

Impeach the bastards on the Supreme Court and replace them with only strict constructionist constitutionalist.

Vote out every son/daughter-of-a-bitch in Congress that has ever violated their oath of office. 99% of them.

Impeach the incompetent neo-communist bastard in the White House, cut up his wife’s government credit card and make his children go to public school.

 

[The Dude]

'

You are ignorant in EVERY post.

They are stupid, you were correct there.

But they are the same stupid as you.

Our tax code has issues, that is fact.
Our citizens that think it doesn't have issues, that is fact.

You would have benefited from college
Loser

 

[Truth Detector]

It is time for this country to become fiscally responsible. The national debt has increased every fiscal year since 1960. What has happened to the responsibility of the two parties? Both like to point the blame at the other, but in reality neither have been responsible fiscally. It is time for a change. Let’s begin with our tax code. It should be simple enough that the average person can understand it. It should not be filled with thousands of loopholes and deductions. Let us push for the flat tax with a standard deduction and nothing more.

Start with a standard deduction of $30k (adjusted for inflation annually) for each adult and then tax every dollar over that $30k at 20%. This is simple, easy to understand, fair and progressive. It protects the low-income individuals and couples from paying federal income taxes. It provides the middle-income families a lower effective tax rate than the wealthy. This plan would encompass ALL income, including earned income, capital gains and dividend income.

A person making $30k pays an effective rate of 0%.

A person making $50k pays an effective rate of 8%.

A person making $100k pays an effective rate of 14%.

A person making $200k pays en effective rate of 17%.

A person making $1mm pays an effective rate of 19.4%

Everyone has the same deduction and takes it. Which causes the effective tax rate to increase the more you make.

To reduce the national debt I would propose we add an additional temporary bracket to the flat tax. Every dollar over $500k (again adjusted for inflation annually) would be taxed at 30% rather than 20%. The additional 10% would be mandated to pay down the debt.

It is our responsibility to pay our own way and not dump trillions of dollars of debt on future generations. We need to begin electing leaders that are fiscally responsible. The future of our nation depends upon it. We are our own worst enemy. It will be our ever-increasing debt that leads to our demise. We must act now.

I wrote the above back in 2008... sent it to my Senators each year since...as well as to my Rep. Funny how I never get a serious response.

I did alter it slightly on suggestion from Dung to the $500k (I originally had it at a million)... bottom line, it is the framework I propose, the numbers made need tweaking.

I also stated that there would be no corporate income tax as the corps income would be taxed as it came out in dividends, capital gains or salary/benes for the employees.

I was a modified flat tax fan until I read a book on the Fair Tax.

The flat tax still requires massive amounts of paperwork and compliance audits that would not exist under the Fair Tax.

The flat tax also relies heavily on honesty of the filers with little other than threat of force to ensure compliance.

The flat tax also continues to ignore an underground black market economy whose participants certainly will not declare income.

The Fair Tax deals with all of these issues and more.