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Posts by tvn

Brevity: Headers | « Text »
  • ROMAN CATHOLICS.....TAKE BACK YOUR CHURCH

    05/31/2006 4:54:09 PM PDT · 1 of 2
    tvn
  • Full Disclosure for Katie and the Congress

    05/14/2006 8:36:20 AM PDT · 1 of 2
    tvn
  • Freedom to Phone- NOT

    05/12/2006 4:52:15 PM PDT · 1 of 3
    tvn
  • Conservative groups push ŕ la carte cable menus

    12/03/2005 8:14:06 AM PST · 86 of 146
    tvn to gondramB
    The concept of free markets is being violated by the cable companies every day.

    In a free market, a seller - especially a monopoly such as the typical cable company- is not permitted to use market power to compel a purchaser to buy desired goods and services together with other unwanted goods and services. This is an unlawful tie-in and is a direct violation of antitrust laws.

    One doesn't need a new FCC regulation to outlaw the practice. Any viewer can go to a state or federal court and get a court order stopping the sale of cable TV services in packages or tiers.
  • Jesse Helms biggest fear? Bill Clinton running the United Nations

    02/01/2005 10:01:59 AM PST · 1 of 38
    tvn
    Appointment of Bill Clinton to head UN Tsunami relief announced earlier today can be seen as first step toward Secretary General post.
  • Johnny Carson's Long Symbiosis With New York

    01/26/2005 10:44:23 AM PST · 1 of 7
    tvn
    A month after Lindsay lost in the Wisconsin primary and withdrew from the presidential campaign, Mr. Carson decamped for California.

    Does anyone know the real reason why NBC moved the Tonight Show from 30 Rock to Burbank?

  • New York Crime Hits a Tipping Point

    01/26/2005 10:07:26 AM PST · 19 of 28
    tvn to Jhensy

    When was the last time you heard a "Central Park mugging" joke?

    Last week on Letterman.

  • Catholic priests urge Church to reconsider celibacy rules

    01/26/2005 8:45:28 AM PST · 1 of 191
    tvn
  • It's Time For Caps On Malpractice Awards

    01/08/2005 1:18:23 PM PST · 21 of 48
    tvn to Tribune7

    Loser Pays Costs: The Alternate to Tort Law Reform

    If courts rule that losing litigants must pay costs of winning party as is done in England, it can reasonably be expected that the number of lawsuits will drop precipitously. This would eliminate the need to proceed with tort law reform.

  • Sulzberger ponders taking NYTimes.com paid

    01/08/2005 12:52:11 PM PST · 1 of 22
    tvn
    If Sulzberger carries through on his idea, he will likley be in for a rude awakening. Few can be expected to pay for access to the Times biased news reports.

    The fact is that the Times 's Internet service is supported by advertising with little additional cost. Any subscription income would be an attempt to skim off additional revenues. However, as non-paying users drop so will ad revenues, causing a net loss to Sulzberger & Co.

  • Congress to Weigh Tsunami Warning System

    01/07/2005 3:07:08 PM PST · 18 of 20
    tvn to Strategerist
    Rather than dealing with observations based upon probable or likely effects on shipping, the first approach should be to assess how ships at sea actually reacted to the recent Tsunami.

    With regard to shipping lanes, the coverage is broad and well-positioned using the following:

    AFRICAN TRADE LANES
    Africa to Asia
    Africa to Australia
    Africa to Europe
    Africa to Far East
    Africa to Mediterranean
    Africa to Middle East

    ASIA/PACIFIC TRADE LANES
    Asia to Africa
    Asia to Australia
    Asia to Central America
    Asia to Europe
    Asia to Mediterranean
    Asia to Middle East
    Asia to South America

    AUSTRALIA/NEW ZEALAND TRADE LANES
    Australia to Africa
    Australia to Far East
    Australia to Mediterranean
    Australia to New Zealand
    Australia/New Zealand to Europe
    New Zealand to Australia
    CARIBBEAN TRADE LANES
    Caribbean to Europe
    Caribbean to Mediterranean
    Caribbean to South America

    CENTRAL AMERICAN TRADE LANES
    Central America to Asia
    Central America to Europe
    Central America to Mediterranean
    Central America to South America

    EUROPEAN TRADE LANES
    Europe to Africa
    Europe to Asia
    Europe to Australia/New Zealand
    Europe to Caribbean
    Europe to Central America
    Europe to Far East
    Europe to Mediterranean
    Europe to Middle East
    Europe to South America
    Iceland to Europe

    MEDITERRANEAN TRADE LANES
    Mediterranean to Africa
    Mediterranean to Asia
    Mediterranean to Australia
    Mediterranean to Caribbean
    Mediterranean to Central America
    Mediterranean to Europe
    Mediterranean to Far East
    Mediterranean to Middle East
    Mediterranean to South America

    MIDDLE EAST TRADE LANES
    Middle East to Africa
    Middle East to Europe
    Middle East to Far East
    Middle East to Mediterranean

    SOUTH AMERICAN TRADE LANES
    South America to Asia
    South America to Caribbean
    South America to Central America
  • Congress to Weigh Tsunami Warning System

    01/07/2005 9:08:23 AM PST · 1 of 20
    tvn
    Advisory to Senator Lieberman-

    The basic elements for a worldwide ocean warning system already exist without spending $30+ MM in US tax dollars.

    In 1979, the UN led the way for the launching of the Inmarsat satellite system to link ships at sea with instant communications. Now, with the addition of global positioning satellites, all ships can be tracked throughout the globe.

    To establish an effective warning system, ships can simply be required to report unusual ocean activities. These reports when linked to the ships' positions can be quickly analyzed to provide the basic information to instantly assess the need to issue advisories to regions that may be impacted.

    This martime (ship based) warning system can be established immediately without the expenditure of $30 MM in US tax payer funds.

  • National sales tax

    12/22/2004 3:28:09 PM PST · 1 of 24
    tvn
    An Alternative Proposal:

    AUTOMATED PAYMENT TRANSACTION (APT) TAX Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare) Required revenue neutral target=$1.242 Tril: Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes) Required revenue neutral target = $2.036 Tril. Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes) Required revenue neutral target = $2.436 Tril. Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three: 1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents. 2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • John F. Kerry Fails to Get a Single Electoral Vote in New York State

    12/21/2004 10:41:15 AM PST · 8 of 24
    tvn to anymouse
    Confusion started with Dave Letterman who referred to "John W. Kerry" in his monologues throughout the campaign.
  • The 'Fair' Tax

    12/21/2004 8:26:43 AM PST · 4 of 5
    tvn to JohnHuang2

    An Alternative Approach:

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • Everything on the table' for US tax reform: Snow

    12/20/2004 7:58:33 AM PST · 1 of 8
    tvn
    Another Alternative:

    AUTOMATED PAYMENT TRANSACTION (APT) TAX Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare) Required revenue neutral target=$1.242 Tril: Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes) Required revenue neutral target = $2.036 Tril. Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes) Required revenue neutral target = $2.436 Tril. Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three: 1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents. 2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • Pressure builds on Rumsfeld

    12/19/2004 3:24:51 PM PST · 1 of 31
    tvn
    Rumsfeld favors developing a plan for the Iraqi oil industry that is based on transparency allowing Iraq's oil wealth to be used for the benefit of all the Iraqi people. (see speech to Council on Foreign Relations, May 27, 2003):

    IRAQI CITIZENS' OIL FUND Incorporates the goals for Iraq Outlined by Donald Rumsfeld

    In 2004, Iraq's oil revenues, which have reached over $12 billion through August, are projected to total $20 billion (US) for the year, up from approximately $6 billion (US) in 2003. These revenues are expected to increase in successive years.

    The Iraq Plan Organization proposes the founding of an Iraqi Citizens' Oil Fund to provide regular payments to all citizens by a new organization to be established by the Iraq Government. The new fund would be similar to the Alaska Permanent Fund funded by oil revenues and operated for the benefit of the citizens of the State of Alaska in the United States. Iraqi citizens seeing the prospect of receiving regular payments from their government - rather than paying money to it - are much more likely to be willing and enthusiastic supporters of the new government.

    Fortunately, Iraq has significant oil resources, which can be used to benefit all Iraqis.

    The Iraq Citizens’ Oil Fund proposal would give each Iraqi citizen a true stake in the economic foundation of their newly established government. Each citizen - man, woman, and child- would become a direct partner in Iraq’s economic and political future.

    By the establishment of the Iraqi Citizen's Oil Fund, the principle of individual ownership would become a primary hallmark of the new government. Citizens who are guaranteed economic power by the new government will naturally support the re-established system. And, with vested property rights, citizen-owners will be highly motivated to join together to devote their efforts to building their country’s future stability and prosperity and defending it from those interests that seek its destruction.

    NOTE: An alternative approach could involve the placing of the Iraq's oil resources in a stock company and awarding all citizens a stock interest, which would pay regular dividends (quarterly and perhaps monthly) and increase in value over time. Restrictions could be established to prevent the re-sale of the corporation's stock to foreign interests.

    The architects of the new Iraq have the power to replace the former government monopoly over natural resources with the Citizens’ Oil Fund, providing all Iraqis a direct ownership stake in their country’s most valuable resource. Such a plan is in the best interest of Iraq and all Iraqis. It also represents a practical and achievable approach to create vested property rights for all citizens in the new Iraq.

    For more information: Website: www.iraqplan.8k.com Email: iranplan@email.com

  • The weasel Geraldo plans a hit piece on Rummy tonight on his show.

    12/19/2004 2:20:52 PM PST · 18 of 444
    tvn to Matchett-PI

    Piutting Matters in Perspective--

    Rumsfeld on the War:

    "Iraq could conceivably become a model, proof that a moderate Muslim state could succeed in the battle against extremism taking place in the Muslim world today. The Iraqi people have a foundation on which to build the peace. At least in part because of the speed and the skill, and the execution of the war plan by General Franks and his team, some bad things did not happen. The vast majority of those oil fields were not destroyed. And the country's oil wealth is intact for the Iraqi people. An environmental disaster was prevented. Think back to what Kuwait looked like after the Gulf War."

    Speech by Donald Rumsfeld before Council on Foreign Relations, May, 27, 2003

  • Directors of Fannie Mae to Discuss Executives' Fates

    12/18/2004 2:04:15 PM PST · 1 of 4
    tvn
    This means a government created and supervised corporation is the first guilty of vioilating the financial reporting rules set by the Sarbanes-Oxley law. There should be a full investigation of Fannie Mae, its officers and its board : Officers and Board Members: FRANKLIN D. RAINES, Chairman of the Board & Chief Executive Officer,( Raines headed OMB under Clinton) H. MUDD, Vice Chairman & Chief Operating Officer, TIMOTHY HOWARD, Vice Chairman & Chief Financial Officer, Board Members: STEPHEN B. ASHLEY, Chairman & Chief Executive Officer,The Ashley Group/ KENNETH M. DUBERSTEIN, Chairman & Chief Executive Officer,The Duberstein Group, Inc./ THOMAS P. GERRITY , Professor,The Wharton School,University of Pennsylvania/ ANN KOROLOGOS (Mrs. John McLaughlin, Host, The McLaughlin Group) ,Vice Chairman, RAND Board of Trustees/ FREDERIC V. MALEK, Chairman, Thayer Capital Partners/ DONALD B. MARRON, Chairman & Chief Executive Officer,Lightyear Capital (former Chairman, PaineWebber) / JOE K. PICKETT, Former Chairman & Chief Executive Officer, HomeSide International Inc./ LESLIE RAHLPresident & Founder Capital Market Risk Advisors, Inc./ H. PATRICK SWYGERT President,Howard University/ JOHN K. WULFF, Chairman of the Board,Hercules Incorporated.

    NOTE: Recently Resigned Fannie Mae Vice Chairman JAMIE S. GORELICK, former member of Clinton Justice Department and member of 9/11 Commission

  • Democrats Warming Up to Tax Reform, But Still Clueless on How To

    12/18/2004 11:12:15 AM PST · 5 of 19
    tvn to postitnews.com

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • FairtaxSM Talking Points

    12/17/2004 5:06:36 PM PST · 26 of 27
    tvn to kevkrom

    Pleaase note that the proposed combined purchaser and seller tax is less than 1%. This is an incentive to maintain all current business structures.

  • FairtaxSM Talking Points

    12/15/2004 12:32:01 PM PST · 19 of 27
    tvn to ancient_geezer

    The APT plan produces far more positive than negative results :


    POSITIVES

    Strong dollar due to economic stimulus attracting foreign investment where no income or excise taxes exist.

    Very low interest rates due to extra savings by individuals and attraction of foreign investment capital allowing lower cost capital and infrastructure expansion.

    Budget elasticity for government including the ability to respond to special demands such as war or national emergencies.

    Eliminate budget deficits with minor adjustments in an already extremely low tax rate. Eliminate accumulated national debt through same mechanism if desired - further strengthening the currency.

    Multiplier effects of economic stimulus creating greater numbers and value of transactions in an upward spiral reducing rates or allowing more services.
    Incentive to move toward a "cashless" system.

    NEGATIVES

    Public insensitivity to expansion of government budgets and commensurate regulation.

    Very low interest rates for people relying on secure, fixed sources of income.

    Loss of tax incentive for charitable contribution. People will have more wealth to give but must do so without economic advantage.

  • FairtaxSM Talking Points

    12/15/2004 12:29:53 PM PST · 18 of 27
    tvn to deaconjim

    The APT plan produces far more positive than negative results :


    POSITIVES

    Strong dollar due to economic stimulus attracting foreign investment where no income or excise taxes exist.

    Very low interest rates due to extra savings by individuals and attraction of foreign investment capital allowing lower cost capital and infrastructure expansion.

    Budget elasticity for government including the ability to respond to special demands such as war or national emergencies.

    Eliminate budget deficits with minor adjustments in an already extremely low tax rate. Eliminate accumulated national debt through same mechanism if desired - further strengthening the currency.

    Multiplier effects of economic stimulus creating greater numbers and value of transactions in an upward spiral reducing rates or allowing more services.
    Incentive to move toward a "cashless" system.

    NEGATIVES

    Public insensitivity to expansion of government budgets and commensurate regulation.

    Very low interest rates for people relying on secure, fixed sources of income.

    Loss of tax incentive for charitable contribution. People will have more wealth to give but must do so without economic advantage.

  • FairtaxSM Talking Points

    12/14/2004 11:47:20 AM PST · 13 of 27
    tvn to ancient_geezer

    Please note that under the APT Plan the responsibility for regulating government spending remains as before with the voters.

  • Governor Jeb Bush Recalls Political Miracle in Brother's Victory

    12/14/2004 8:41:21 AM PST · 1 of 30
    tvn
  • FairtaxSM Talking Points

    12/13/2004 10:34:11 AM PST · 2 of 27
    tvn to postitnews.com

    ANOTHER ALTERNATIVE:

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • France in Pain (The unbearable scrofulousness of being a Crapweasel)

    12/11/2004 2:49:47 PM PST · 18 of 69
    tvn to quidnunc
    The writer reflects the fact that the French "elite" see that they must support the U.S. in their own best interests. They need a way to rationalize this position. It would be a good idea for France to craft a new position with respect to Iraq.

    The French position should start with stating the country's universal gratitude to the U.S. for its efforts in saving France in World War I and II. (In this connection, while not necessary, it would be helpful to restate past history which largely reflects that French foreign policies based on both arrogant and erroneous over confidence in their tragically flawed military and, in the case of Germany in the 1930's, appeasement of Hitler's early barbarism, resulted in international conflagrations, which were only extinguished through U.S. intervention.)

    The French government should next state that though, for various reasons, it opposed the U.S. policy with respect to the Iraq war, in view of the unparalleled American sacrifices on behalf of France, it owes the U.S. its full and continuing allegiance and support in addressing the current situation in Iraq.

    The above position can allow the French diplomats to support the U.S., while rationalizing their abandonment of their prior position. Hopefully, the French nation could also come to understand the fundamental reasons why they too should stand at the side of the U.S. at this critical juncture.
  • Malloy's Remarks on Firing at Notre Dame Gaining Applause

    12/10/2004 11:59:15 AM PST · 4 of 46
    tvn to tvn

    As the NBC exclusive contract has been in force for some 10 years, the procceds to be accounted for by ND should be in excess of $100 MM. It is certainly time for a full accounting by the school's authorities.

  • Malloy's Remarks on Firing at Notre Dame Gaining Applause

    12/10/2004 11:50:25 AM PST · 1 of 46
    tvn
    Another question to the ND Board of Governors: In first signing their exclusive tv deal with NBC Sports, ND officials said that they would use the annual $10 MM + rights fee for minority scholarships. Where is the accounting for these monies?
  • DRUDGE: Short List of Names for Director of National Intelligence

    12/08/2004 10:37:04 AM PST · 32 of 63
    tvn to West Coast Conservative

    Question- Will the US Govt have to pay for Jane Harmon's many dress designers? She changed clothes at least three times yesterday for her appearance on C-SPAN in the morning and her floor speech in the afternoon and later at the Duncan Hunter press conference in the evening where she joined the always best dressed John Warner.

  • The Nascar Nightly News: Anchorman Get Your Gun (Another Frank Rich Blue State Lament)

    12/04/2004 11:03:00 AM PST · 1 of 25
    tvn
    Another blue state the sky is falling essay by Frank Rich set to appear in Sunday's NYT.
  • Bush's goals still big, bold (social security, tax reform)

    12/02/2004 9:27:42 PM PST · 18 of 18
    tvn to FairOpinion

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • Damon's tax-cutting remarks

    12/02/2004 9:26:50 PM PST · 44 of 45
    tvn to Jose Roberto

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • Top Economist Says Tax Switch Simple, Fair

    12/02/2004 9:26:01 PM PST · 126 of 196
    tvn to ancient_geezer

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • I Want My Moscow TV (Long Distance Private TV System)

    12/02/2004 9:19:22 PM PST · 1 of 6
    tvn
    For now, Mr. Schaffer says he has not heard from any unhappy networks or satellite or cable television operators. A spokesman for Time Warner Cable, the main cable carrier in Manhattan, declined to comment on either TV2Me or Sony's LocationFree TV.

    But just as television companies at first largely ignored digital video recorders like TiVo, only to wake up later, devices like TV2Me may offer new challenges and opportunities to the entertainment industry sooner than expected. TiVo users sometimes refer to their practice as "time shifting," that is, watching television on their own time.

  • It's Still a Man's World on the Idiot Box

    12/01/2004 8:04:08 PM PST · 30 of 51
    tvn to Tumbleweed_Connection
    Dowd's premise is simply wrong.

    In past years, the major networks (ABC,CBS,NBC) have attempted to use widely heralded female anchors on the evening news programs - e.g. Barbara Walter (ABC)and Connie Chung (CBS)-and the result was that IT DIDN'T WORK. The ratings numbers simply weren't there, and the networks were forced to go back to male anchors. This past history is quite obviously unknown to Ms. Dowd (this would take some research beyond that provided by her lunches with other Times' staffers).

    The answer here is not about keeping women like Katie Couric out of the anchor chair. It's about the business of television which, in the end, is about generating ratings to attract advertising dollars. Ms. Dowd should not critique an industry marketing decision when she doesn't know the industry and the way it works.
  • Umbilical Cord Stem cell therapy brings paralyzed to feet

    11/30/2004 8:32:43 AM PST · 1 of 13
    tvn
    China has been collecting umbilical cord cells for two years. Reportedly, the country has surpassed 200,000 donors in its nationwide program.
  • The Great Indecency Hoax

    11/28/2004 3:44:07 PM PST · 1 of 41
    tvn
    Once again, a NY Times writer so proudly "cherishes the First Amendment" and supposedly champions the cause of liberalism by denouncing what he terms the "moral values" crusade which has recently attacked programs such as ABC's Desperate Housewives and its tasteless NFL Monday Night Football intro. What Mr. Rich so sadly misses is the fact that the Times and its liberal brethren, while trumpeting the First Amendment, consistently overlook the fact that it is really the standards of decency (as opposed to indecency) and good taste (not obscenity) required of broadcast networks and stations which are at issue here.

    Sure millions of viewers in both red and blue states will watch programs such as Desperate Housewives each week, in their search for entertainment. However, it is the responsibility of the broadcast networks and stations to maintain high standards in their programming so as to earn the right to be invited back into the nation's living rooms each night. This will not be accomplished by imitating the over-the-top programming of HBO and Showtime (a fact completely lost on Mr. Rich).

    There is a difference between broadcast TV and cable, and it remains for the broadcasters (not the FCC or viewer interest groups) to enforce proper standards of decency and good taste in presenting their programming.

    For the last half century, broadcast television supported by advertising has gained entry to our country's homes as an invited guest. Given this fact, broadcasters must always be careful not to improperly attack, shock or insult their hosts. This is not a First Amendment question. Rather - and this is hard for people such as Mr. Rich to fully appreciate- it is central to the constant need for broadcasters to observe a type of acceptable conduct which reflects the standards, values and requirements of American viewing public.

    Mr. Rich, a former theater critic for the Times, apparently does not grasp the fundamental difference between commercial TV and the paid video media.

  • U.S. dollar whipsaws on worries over China

    11/26/2004 11:14:22 AM PST · 1 of 25
    tvn
  • China's brand names prepare to go global

    11/26/2004 9:07:41 AM PST · 1 of 13
    tvn
  • The end of the age of oil?

    11/26/2004 8:52:56 AM PST · 1 of 41
    tvn
  • Europe is dying?

    11/25/2004 8:00:07 AM PST · 1 of 38
    tvn
  • Umbilical cord blood can help leukemia patients

    11/24/2004 4:24:10 PM PST · 1 of 5
    tvn
  • C-B-S says announcement of new anchor won't come right away

    11/24/2004 4:17:05 PM PST · 1 of 29
    tvn
  • Taxing thoughts

    11/23/2004 8:14:02 AM PST · 4 of 33
    tvn to ancient_geezer

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773

  • Stick it to ABC for its 'Housewives' towel stunt

    11/21/2004 3:31:32 PM PST · 1 of 26
    tvn
    And to the NFL-- CUT THE SMUT.
  • Election Night Timeline Revisited

    11/20/2004 4:44:01 PM PST · 13 of 30
    tvn to Vigilanteman

    Please note, USA Today reports as follows:

    " In the exception to TV networks' caution in projecting winners on election night, Fox News Channel and NBC awarded Ohio's crucial electoral votes to Bush shortly before 1 a.m. Wednesday, more than 12 hours before Kerry conceded the state and the race.

    ABC, CBS, and CNN held off on declaring Ohio red for Bush or blue for Kerry. CNN added a new color to the palette of red and blue states —green, for "too close to call" — until finally awarding it to Bush on Wednesday when Kerry conceded."

  • ELECTIONS: Whom to blame for the Democrats' loss?

    11/20/2004 1:06:05 PM PST · 1 of 42
    tvn
    Additions anyone?
  • Visions of vaporizing the IRS abound again

    11/18/2004 1:28:04 PM PST · 94 of 195
    tvn to elbucko

    FYI

    “It was only three years after McCulloch’s warning that Karl Marx and Frederick Engels, in the Communist Manifesto, advocated a heavy progressive tax as a means of despoiling the “bourgeoisie” and softening middleclass society up for the dictatorshp of the proletariat. Walter Bagehot, editor of the London Economist, feared that the Marxians would prevail: he predicted that the progressive tax, in combination with the principle of universal suffrage, would result not only in the destruction of the rich but in the very dissipation of the productive capital which gives society (the poor included) its margins of comfort.

    The predictions of McCulloch and Bagehot have not yet come to pass in their ultimate direness; maybe they failed to reckon with the adaptability of man. Psychologically speaking, there is obviously some point where the progressive tax must recoil upon itself, destroying the base from which it might hope to achieve a maximum of “take.” Just where the point is we cannot tell: there is no way of measuring businesses that are unborn, or energies and creative enthusiasms that simply fail to well up. But when a progressive tax dampens the impulse to generate income, then the tax base itself must narrow and diminishing returns set in.”

    The Progressive Income Tax
    Published in The Freeman: Ideas on Liberty - April 1981
    by John Chamberlain

    http://www.fee.org/vnews.php?nid=951

  • Visions of vaporizing the IRS abound again

    11/18/2004 12:24:58 PM PST · 51 of 195
    tvn to elbucko

    I simply do not believe that it is the government's business to redistribute wealth via the "progressive" income tax. It certainly was not an objective of the Founding Fathers. In any event, the following is another approach to consider:

    AUTOMATED PAYMENT TRANSACTION (APT) TAX
    Taxation technology for the 21st century

    Dr. Edgar L. Feige, Professor Emeritus of Economics from the University of Wisconsin-Madison and the originator of the APT Tax concept, has just produced new estimates suggesting that a broad-based transaction tax as low as six tenths of one percent could replace the entire Federal and State 2005 budget revenue requirements of the United States of America.

    The APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax therefore eliminates the need for individuals and firms to file income and information tax returns. This is estimated to save citizens and the government roughly $200 billion per year in administration, enforcement, evasion and compliance costs, roughly seven times the amount currently being spent on homeland security.

    The APT tax seeks to maximize the goals of both the government and the people - collecting necessary revenue with the lowest possible tax rate. The difference between the APT tax and our current income tax, as well as the proposed consumption taxes, is simplicity, progressivity, and breadth-the APT tax allows for significantly lower rates spread more equally throughout the world of economic activity. The APT is a transaction tax, and as such, taxes every single transaction that occurs in the economy including fund transfers between accounts and transactions involving the exchange of bonds, securities and foreign exchange. Because the wealthy conduct a disproportionate share of these financial transactions, the tax is highly progressive despite its flat rate. Progressivity is achieved through the skewness of tax base itself rather than through the progressive income tax rate structure of the current system. The very small tax is "sliced" off each side of every transaction as it moves electronically through banks and all other qualifying financial institutions. The tax collection is orderly and transparent, the rules are simple and universal and apolitical. The APT system eliminates the entire present tax code. No more exemptions, no more deductions, no more special interest loopholes and no more tax returns.

    Feige's 2005 projections of total debits of $881 Tril., and total transactions of $832 Tril. (based on the most recent 2002 Bank for International Settlements data) update the figures he used in his original paper, published in Economic Policy in 2000. Taking the average of these two estimates ($856 Tril.), he conservatively assumes that the replacement of the current tax system with a revenue neutral APT tax will reduce total transactions by 50%. The projected potential APT tax base for 2005 would then be $428 Tril., permitting a revenue neutral flat tax of .57 percent on all transactions or .28 percent on each (buyer and seller) transactor to replace projected 2005 Federal and State tax revenues.

    The tax rates required for a "revenue neutral" tax are divided into three phases which are the result of a suggested implementation plan that would gradually replace virtually all Federal and State taxes. The projected tax rates are calculated conservatively, assuming that only 50% of the potential 2005 APT tax base is available, since the volume of total transactions is expected to fall with the introduction of the APT tax. To the extent that transactions decline less than is assumed in the current calculations, an even lower tax rate would be able to raise the requisite revenues. As individuals and businesses use their new found economic freedom, transactions naturally grow over time, suggesting that future tax rates could be even lower.

    Utilizing 50% of the projected APT tax base for 2005 of $856 Tril., that is, $428 Tril, the estimated tax rates required to raise the revenues projected for 2005 budgets are as follows:

    Phase I (Eliminate all Federal taxes other than SS and Medicare)
    Required revenue neutral target=$1.242 Tril:
    Required tax rate = 0.29% per transaction or 0.15% per transactor.

    Phase II (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes)
    Required revenue neutral target = $2.036 Tril.
    Required tax rate = 0.48 % per transaction or 0.24% per transactor.

    Phase III (Eliminate all Federal taxes including Social Security and Medicare "payroll" taxes and all State personal income; corporate profits and sales taxes)
    Required revenue neutral target = $2.436 Tril.
    Required tax rate = 0.57% per transaction or 0.28% per transactor.

    The estimates above are based on 2005 revenue and transaction projections. Implementing the three phases will require several years and careful government management, especially the third phase. However, Dr. Feige has built in a safeguard for the APT Tax by calculating the required tax rate based on only half of the transactions that are actually observed.

    Examples: Assuming full implementation of Phase three:
    1. $100 restaurant bill would have a tax to the customer estimated to be 28 cents and the restaurant would pay 28 cents.
    2. $50,000 family income deposited and spent or moved to savings results in $100,000 of transactions paying a total tax of $280 distributed over all the individual transactions as they occurred through the year. These amounts would be doubled if businesses fully shifted their tax burden to the consumer, but nowhere near the $15,000 to $20,000 the family would pay under the current federal and state systems.

    It is now important to begin the process of planning the economic, legal, technical and administrative requirements necessary for a smooth and transparent transition from the current tax system to an APT system. The proposed, new collection system will be tested by computer simulation to capture all potential errors and omissions (new job for the IRS). Then, it will take several years to rollout, especially Phase III involving central collection and distribution to the States. A national commitment to this revolutionary, fair, automatic and lowest cost tax system is needed NOW!

    For more details, please visit www.apttax.com

    William J Hermann, Jr. MD, Director APT Tax Project Contact: administrator@apttax.com , 713-932-3773