Tax-Cuts for the Rich!!

Who says that this country has to go into deep deficit if we all have tax-cuts? Why is the definition of a tax-cut and a spending cut different in DC? When we cut spending on our budget we buy less of an item rather than reducing the growth of an item. It is about time for the over bloated govt begin the same discipline. Can anyone say that there is not waste that can be found in the gummit trough?

This tax debate is only one of many debates that Conservatives have the upper ground with Americans. It is time to make HilaRat and the rest of the Dims as uncomfortable as a cowboy with hemorrhoids. To tax people 50% of their income is unconscionable no matter what income bracket they are in. This wonderful country was designed on the fact that people knew better than gummits how to efficiently use their money. Communists/socialists believe that the central govt knows better how to spend your resources and spread it among everyone else. The other philosophical difference between Communist countries is that you need walls to keep people in rather than out.

Elitists appreciate Communism because it allows the mental exercise of explaining why up is down and down is up. This same exercise is being used to explain the current economy. In normal times if interest rates and inflation was down while the economy grew at 3-4% we would be worried about Fed Rate increases. In this stock market obsessed economy up is down and down is up. The only problem with the stock market is that we are paying for the phony years of HilaRat and her co-president’s cooking the books. The entire time they were disgracing in the WH the economy only grew at 1-2% even after clinton bookkeeping?? If the truth had been told then we were most likely in a technical recession and the stock-market running at 18%???

The other factor that is up is the unemployment rate. Of course the rate is up when you are allowing people to stay on the books for 2 years rather than 12 months. In the past after peoples unemployment ran out they would no longer be counted and the rate ran around 4%. If you bribe people to stay on the dole of course the raw number will go up and so will the rate.

“Tax cuts for the rich,” is the only page left in the Rat play book. According to the Dims the only way to give tax-cuts is to give it to everyone whether they pay taxes or not. Most would think you have to be a taxpayer to get a tax-cut? To make it easy for the DumbRats, if everyone has their taxes cut 10% then those who pay a $million are going to get 10 times more back than those that only pay $100,000 and 100 times more than those that pay $10,000. This is called a progressive tax system which means that those who pay more get more back.

Also, if 50% of the people pay 0 taxes the percentage of tax-cuts will be weighted heavier to the bigger taxpayers as a percentage of total return. Then they can scream millionaires like Kennedy, Clinton and Rockefeller are receiving 47% of the benefits. In a Commie system of course everyone pays in 90% and then if there ever were refunds it would go to the Central Party members, you figure out who they would be?

Rather than talking about what it is going to cost to let us keep more of our own hard earned dollars how about talking about cutting spending. It is past time to get rid of useless feel good programs from the past. We do not need NPR or millions of like programs in a time of satellite dishes and 200 channel programming. We can probably get rid of the helium program and weed our govt off the public teat. There are some programs outside of security and transportation that the govt does well, but it is time for them to explain themselves. The more $$ we can keep in the private sector the more multiplying the money makes as it circulates around the economy. Rather than giving a waitress $300 taxable $$ from a refund like the Rats want to happen let people go to dinners and tip her $3-10,000 over the year. This is how Trickle Down economics works and as opposed to what PravdABC fibs, President Ronald Reagan’s trickle down economics looked more like Niagara Falls in the spring.

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It's high time for the tax system to revert to the original form - where all government revenue comes from duties and tariffs. Cut spending by eliminating the 600,000 employees of the IRS, eliminate the NEA, and require the Feds to give back all of the land that they have stolen from the states. Lastly, drop our membership in the UN - that is a 'country club' that we don't need to be spending so much money on just to belong to the 'World Community'.

How To Stimulate The Economy? Cut Taxes For The Rich
Daily Policy Digest

Tax Issues / Tax Legislation

Wednesday, December 26, 2001

Who has lost the most due to the stock market fall and the recession? While the poor may suffer the most privation, says Bruce Bartlett, the greatest losses have been among the richest Americans. While we don't necessarily feel sorry for losses among higher income individuals, since they are the ones who provide the bulk of capital investment that will create an economic recovery, tax relief for them should be an important element in an economic stimulus bill.

According to a Census Bureau study released earlier this year, those in the top 20 percent (quintile) of households, ranked by income, own 58.6 percent of all stock and mutual funds in terms of value.

This means that those in the top quintile have lost the vast bulk of the money resulting from the steep fall in the stock market since last year.

The combined value of all stocks on the New York Stock Exchange and the NASDAQ market peaked in August 2000 at $18.9 trillion.
As of the end of October 2001, this fell to $13.4 trillion, a decline of $5.5 trillion.
This suggests that those in the top quintile have suffered a loss in wealth of more than $3 trillion in just over a year (see figure).
As a result, wealth is far more equally distributed now than before the stock market crash. But there is not a single poor person in America who is better off because people like Warren Buffett and Bill Gates are billions of dollars poorer.

However, Senate Majority Leader Tom Daschle (D-S.D.) has blocked passage of an economic stimulus package just to stop corporations and well-to-do individuals from getting even the tiniest bit of tax relief.

Source: Bruce Bartlett, senior fellow, National Center for Policy Analysis, December 24, 2001.

For text http://www.ncpa.org/edo/bb/2001/bb122401.html

For more on Current Tax Legislation http://www.ncpa.org/iss/tax/

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