The Blog


Fair Tax Act: Pt. III
December 27, 2008, 8:20 pm
Filed under: Economy, General | Tags: , ,

     After publishing the last time I received some questions which I will now attempt to answer. An acquaintance of mine asked:

1) What would be done to speed legalization of illegal immigrants &
2) What sources can I look at to see the proposition of the tax costing nothing to maintain.

     First, the primary objective of the FTA is not to legalize immigrants or even attempt immigration reform. It’s main focus is a tax reform and therefore will not change current immigration policies if enacted. The fact that immigrants will not be able to avoid contributing to society is simply a bonus, icing on the cake if you will. 

     Second, I apreciate being held accountable for what I say and write. In FTA Pt. II I stated, incorrectly, that it would cost nothing to maintain. In actuallity it would (of course) have expenses. Unlike the current tax system, the FT would not require more money each year. As a result, state budgets would end up not only breaking even but would save money each consecutive year. 45314full

       It is now time to pass the torch so that the reader can discover all the nuances of the FT on their own. Here are several informative links;

 

The Basics – here.

The prebate explained – here.

The actual bill in plain English – here.

And of course, the wikipedia article.

45557full



How to Be a Gentleman: II
December 20, 2008, 11:09 pm
Filed under: General | Tags: , , ,

More advice for the gentleman in all of us… 

 

“A gentleman ties his own tie.
Especially if it is a bow tie.
Especially if it is black.”

gentleman3

“A gentleman knows when it is alright to eat the garnish.”

gentleman3

“If a gentleman does not speak French,
he does not attempt to use French words.”

gentleman3

“When there is a woman on the premises
— or if there is any likelihood a woman will arrive soon —
a gentleman always puts the toilet lid down.”

gentleman3

“If a gentleman attends synagogue and is offered a yarmilke,
he puts it on.”


… sometimes he’s a little harder to find.

 



Fair Tax Act: Part II
December 17, 2008, 11:39 am
Filed under: General | Tags: , , ,

     Ever put on a coat you haven’t worn for a while and found $20 in the “secret” pocket? Today we’re going to talk about three “hidden” incomes in our pocket.

    One of them more practical arguments against illegal immigration is that the perpetrators do nothing to share the tax burden. How many times have you heard people complain that they’re paying for the children of an illegal immigrant to go to school? Under the Fair Tax Act (FTA), illegal immigrants and other underground type characters will be forced to contribute. The will have to buy certain things legitimately like food and other necessities and therefore will pay taxes. If they want the prebate to help lighten the load they will have to either legal citizens or legal immigrant workers. I do not want to argue the morality of illegal immigration on here, I’m simply pointing out the practical economic benefits of the FT.

     Back to the “underground type characters”, Drug dealers earn a black market income, and yes they pay sales tax on certain things, but it doesn’t amount to much under our current tax system. They most likely don’t account for their new boat, house, car, etc. that they bought with their drug money. Proponents of the FTA point to research that indicates as much as $1.5 Trillion on non-taxed black market transactions. When you’re dealing narcotics on a large scale I’m pretty sure the IRS doesn’t scare you too much. Proponents of the FT say that these untapped sources will help achieve “revenue neutrality”. Meaning that with the extra money that the drug czars are paying for their Maserati’s, the government will make just as much -if not more- on the 23% Sales tax established by the FT. Needless to say those trillions of untaxed dollars will go a long way in improving the economy.

Which Way?

     Its is estimated that switching to the FT would also eliminate the needless spending on processing taxes and enforcing the current code. Right now it costs the U.S. government an estimated $265 Billion a year to maintain the current tax system. The FT would require $0. The states would receive -from the tax proceeds- funding to process the taxes reported by the businesses at the point of sale. Yes the employees of the IRS, tax form software companies and others would lose their jobs, but the bill proposes to completely phase it out over a period of three years, thereby giving them enough time to find new jobs.

  The overall income generated by these three different sources will be more than enough to maintain revenue neutrality and more.



Fair Tax Act
December 16, 2008, 1:31 pm
Filed under: General | Tags: , , ,

      Conceived in the deep south (Georgia), the Fair Tax Act is one of the most revolutionary ideas to be proposed.  First introduced by Republican John Linder on July 14th, 1999 in the House and by Saxby Chambliss in the Senate, the Act has been submitted to every congress since then. Every year it earns a little more support, and rightly so. It is one of the best alternatives to our current and according to most, ineffective tax system. Some quick basics:

 

  • A 23% tax is paid at the point of sale on new goods and services.
  • No income tax, workers keep entire paycheck
  •  A refund, or prebate, is payed to the consumer in advance the tax spent on necessities
  • Abolishes the IRS (after three years) and establishes an Excise Tax Bureau and a Sales Tax Bureau within the Dept. of the Treasury.

 

      One tax; let me repeat that, O-N-E tax.  All taxes will be collected when we (individual consumers) purchase new products and services such as a new car or a haircut. In order to ease the burden on low level income families (and singles as well) a “prebate” will be payed once a month to cover the estimated tax payed for necessities such as groceries, medication, etc. This prebate will be based on the individuals income level and the current cost of living.  

     Just take a moment to think about all the ways we pay taxes; income, purchases, investments, cars, insurance, licensing, tuition, and many more. When you actually think about it, we pay taxes three or four times for what is fundamentally the same thing.

The Flow

Many thanks to Brady for massive contributions toward this amazing flow chart.

 

       Hopefully the chart above helped you visualize how many times we are taxed for the same things. I belive it is safe to say that the government is double-dipping. Just a little bit. 

 

**Fair Tax Act: Part II coming soon…**



“Old words…”
December 14, 2008, 10:21 pm
Filed under: General | Tags: , , ,

   Winston Churchill is known mostly for his love of cigars, good brandy, and his…passionate dislike…for Nazi Germany. However, it’s his ability to phrase things simply yet intricately that makes him my favorite public speaker and most admired politician. So in keeping with my tradition of not actually writing on my own, I’m going to share a few of my favorite quotes. Enjoy.

 

 

The short words are best, and the old words are best of all.

 

A lie gets halfway around the world before the truth has a chance to get its pants on. 

 

A politician needs the ability to foretell what is going to happen tomorrow, next week, next month, and next year. And to have the ability afterwards to explain why it didn’t happen. 

 

Although personally I am quite content with existing explosives, I feel we must not stand in the path of improvement. 

 

I have taken more out of alcohol than alcohol has taken out of me. 

 

If the Almighty were to rebuild the world and asked me for advice, I would have English Channels round every country. And the atmosphere would be such that anything which attempted to fly would be set on fire. 

 

My wife and I tried two or three times in the last 40 years to have breakfast together, but it was so disagreeable we had to stop. 

 

The length of this document defends it well against the risk of its being read. 

 

You can always count on Americans to do the right thing – after they’ve tried everything else. 

 

I may be drunk, Miss, but in the morning I will be sober and you will still be ugly. 

 

I like a man who grins when he fights. 



Philosophy of a Nation.
December 8, 2008, 11:24 pm
Filed under: General | Tags: , , ,

    I was reading Common Sense by Thomas Paine last night and happened upon an excerpt I would like to share with you. First though let me set the scene; Paine’s writings are considered by most to be the catalyst for two revolutionary wars, both the American and French. As Sydney Hook wrote in his introduction for The Essential Thomas Paine; “If any man is entitled to be called the Father of American Independence, it is Thomas Paine…”  

 

     The passage that follows is taken from his essay Common Sense. Intended to state the case for American Independence from English rule, the essay made a huge impact on the colonies as well as countries in Europe.

 

The cause of America is in a great measure the cause of all mankind. many circumstances hath, and will arise, which are not local, but universal, and through which the principles of all Lovers of Mankind are affected, and in the Event of which, their Affectations are interested. The laying of a Country desolate with Fire and Sword, declaring War against the natural rights of all Mankind, and extirpating the Defenders thereof from the Face of the Earth, is the Concern of every Man to whom Nature hath given the Power of feeling; of which Class, regardless of Party Censure, is the AUTHOR.

 

     It is my sincere hope and prayer that even though our country as a whole may have forgotten [or twisted] the fundamental concepts that formed our Nation, a few will begin to search the original philosophies that built the foundation of America.



How to Be a Gentleman.
December 6, 2008, 11:38 pm
Filed under: General | Tags: , , , ,

     On my 18th birthday my Dad gave me (among other things) a book called How to Be a Gentleman.  Its contains truncated instructions on assorted topics, all of which relate to how a gentleman is to conduct himself in any situation. I have decided to share this wealth of information with you over the coming months.

___________________________________________________

“A gentleman knows how to make grilled cheese at 2 A.M. and an omelet at 7 A.M.”

“A Gentleman never feels that he must say pleasant things about unpleasant people. Even when describing he does not stretch the truth. Goodness, when accurately described, can stand on its own.”

“A gentleman tucks his undershirt into his undershorts.”

“When a gentleman feels the urge to color his mustache, he promptly shaves it off.”

“If a gentleman is given to wearing outlandish hats – such as a deerstalker or a Russian sable cap with earflaps – he understands that he will probably attract attention.”

___________________________________________________

     This concludes the first installment on “How to Be a Gentleman”. I hope you were enlightened and maybe even found a little humor in the above quotations. Check back each week for more quotes from various subjects in the book.