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Ideas and Suggestions

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  • #16
    Re: Ideas and Suggestions

    revise the tax code to incentivize long-term investment in domestic production
    I say revise the tax code by eliminating it altogether except for one paragraph.

    Everyone earning over 1.5 times the poverty rate pays a flat rate tax. No exceptions, no deductions, no excuses. Apple pays 10% (a number just for discussion purposes) and Joe the Plumber pays 10%, or whatever percentage is determined to be a reasonable starting point.

    Everyone who works for the IRS now gets laid off or transfered to other agencies where they can do more good.

    Congress and the Senate get a two term limit and no lifetime benefits package. They turn into pumpkins with no greater status than you or I after two terms. If they want to run for another office they have to sit out for at a minimum of one term for the office last held.
    "It's a table saw, do you know where your fingers are?" Bob D. 2006


    1/20/2017 - The Beginning of a new Error


    • #17
      Re: Ideas and Suggestions

      Bob, it's a great idea. Flat tax has been discussed for as long as I can remember.

      But it won't happen, and you don't want it to happen.

      The problem is housing. Since mortgage interest is deductible, it's a big factor in setting the market price of homes. Especially for fresh (recently taken out) mortgages where most of the monthly payment is deductible interest. The deduction is valuable because it tends to be enormous, making a higher priced house much more affordable.

      If you eliminate that deduction, home prices will plummet (even more). People will stop paying their mortgages, and very many motgages will become "toxic". The problem will make the subprime crisis of 2008 look like a slice of heaven.

      At the same time, you would be eliminating the depreciation and expense deductions for rental property owners. Rents would have to go up dramatically. Renters would be in a world of hurt.

      You could grandfather in existing mortgages, but it wouldn't matter. The buyers set the market price for homes.

      The income tax is yet another example of Government not only screwing things up, but in this case doing so irretrievably.


      • #18
        Re: Ideas and Suggestions

        YOU HAVE TWO COWS, Economic Models and Business Strategies explained with Cows,,, COMMUNISM; You have 2 cows. The State takes both and gives you some milk,,,FASCISM; You have 2 cows. The State takes both and sells you some milk,,,SOCIALISM; You have 2 cows. The State takes one of them and gives it to your work-shy neighbour. They laugh in your face,,,NAZISM; You have 2 cows. The State takes both and shoots you,,, BUREAUCRATISM; You have 2 cows. The State takes both, shoots one, milks the other, and then throws the milk away,,, TRADITIONAL CAPITALISM; You have two cows. You sell one and buy a bull. Your herd multiplies, and the economy grows. You sell them and retire on the income,,,SURREALISM You have two giraffes. The government requires you to take harmonica lessons,,, AN AMERICAN CORPORATION; You have two cows. You sell one, and force the other to produce the milk of four cows. Later, you hire a consultant to analyse why the cow has dropped dead,,,ENRON VENTURE CAPITALISM; You have two cows. You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for the five cows. The milk rights of the six cows are transferred via an intermediary to a Cayman Island Company secretly owned by the majority shareholder who sells the rights to all seven cows back to your listed company. The annual report says the company owns eight cows, with an option on one more. You sell one cow to buy a new president of the United States, leaving you with nine cows. No balance sheets are provided with the release. The public then buys your bull,,,A FRENCH CORPORATION; You have two cows. You go on strike, organise a riot, block the roads and set fire to cars, because you want three cows,,,A JAPANESE CORPORATION; You have two cows. You redesign them so they are one-tenth the size of an ordinary cow and produce twenty times the milk. You then create a clever cow cartoon image called 'Cowkimon' and market it worldwide,,,GERMAN CORPORATION; You have two cows. You re-engineer them so they live for 100 years, eat once a month, and milk themselves,,,AN ITALIAN CORPORATION; You have two cows. You don't know where they are, you decide to have lunch,,,A RUSSIAN CORPORATION; You have two cows. You count them and learn you have five cows. You count them again and learn you have 42 cows. You count them again and learn you have 2 cows. You stop counting cows and open another bottle of vodka,,,A SWISS CORPORATION; You have 5000 cows. None of them belong to you. You charge the owners for storing them,,,A CHINESE CORPORATION; You have two cows. You have 300 people milking them. You claim that you have full employment, and high bovine productivity. You arrest the newsman who reported the real situation,,,AN INDIAN CORPORATION; You have two cows. You worship them,,,A BRITISH CORPORATION; You have two cows. Both are mad,,,AN IRAQI CORPORATION; Everyone thinks you have lots of cows. You tell them that you have none. No-one believes you, so they bomb the **** out of you and invade your country. You still have no cows, but at least now you are part of a Democracy,,,AN AUSTRALIAN CORPORATION; You have two cows. Business seems pretty good. You close the office for the day and go for a few beers to celebrate,,,Author Unknown


        • #19
          Re: Ideas and Suggestions

          I am just wanting to say that the policies imposed upon us are pushing us towards capitalism. As we proudly announce our socialism.
          Should be free form restrictions like this.
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