Tomorrow is the start of the Republican convention. So I like to talk about one big issue the democrats and republicans are fighting over. Taxes. To me the American tax system is terrible. The tax code is thousands of pages long and is criticized by both sides. Yet nobody really want to make it simple because it is the tax laws, loopholes and exceptions to the tax laws that give politicians the power. By making and amending laws and creating loopholes, powerful politicians can help the people who support them. These complicated laws also keep big accounting firms and tax law attorneys in business. So if I am king I would make the following tax codes.
I would propose a flat tax maybe similar to the 16% Hong Kong has. There would be a line below which those people would not have to pay. Anything above that line everybody pays the same percentage. In order for this to work there can't be any deductions and nobody can write into law new deductions. There will be higher taxes on alcohol and tobacco. Th flat tax usually favors higher income earner. To offset that there should be no sales tax for "normal" priced products. For example a chair priced at $50 will not be taxed. But a $5000 couch would be taxed. Cars will be taxed according its mileage per gallon and sales price. A $20000 first car for a family will be taxed free. A gas guzzler or a Rolls Royce will be highly taxed. Putting money into the Cayman Islands or Swiss banks will be highly taxed as well. Sorry Mitt!
There are kinks that need to be worked out but you get the idea. Since I am not really the king, there is also 0% chance of something like this ever passing.
Sunday, August 26, 2012
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I have no idea what to do about the tax situation. This may sound radical, but if I were Emperor (I prefer that instead of King), I would make it so that there is no individual Federal (or in this case, Monarch or Dynasty) tax.
ReplyDeleteI would in turn tax (I prefer mandatory fees) the states, so that my government can operate the country's defense, roads, etc.
Therefore, each state is in control of how much each of their citizens pay to the state.
I would also be in favor of a sales tax for things that are luxury items, similar to what you have.
There are so many reforms you and I have talked about over the course of time, but I am a huge proponent for a spending limit on campaigns. Especially after seeing these horrible commercials every 15 minutes. I would get rid of the party system too if I could.
One last thing. How stupid was it for the GOP to hold its convention at the start of hurricane season? It makes no sense at all. There's a reason why airfare to Florida is cheap at the end of August through September. Nobody goes there!
-LBOAYM
Once the Supreme Court ruled that corporations are people, there was no chance for campaign spending limits. Also you can donate anonymously to superpacs, so again it raises the revenue each side can spend. So until you get the courts to reverse these two things, each election will get more ugly than the previous one.
ReplyDeleteI think the GOP had to take the risk on Florida because it is a must win state for them if they want to beat Obama. It looks like they might luck out since the storm is not going hit Tampa directly. They lose Monday but that was the day the major networks were not going to televise on prime time anyway. They can squeeze everything in 3 days. The only thing I can see that would be bad for the GOP is if the storm causes massive destruction on New Orleans on Katrina's anniversary. That would be big news to overshadow the convention. The GOP also cannot put up a celebrating face if there was a disaster elsewhere. So if the storm does not cause major damages then the GOP would have survived its calculate risk.
Not related to the convention at all, but I saw this article and thought of you:
ReplyDeletehttp://blog.angryasianman.com/2012/08/not-missing-asian-tourist-joins-search.html
-LBOAYM
The bus driver didn't know how many people were on the bus or if there was more than one Asian woman? Anyway, I don't see how this made you thought of me. Certainly nobody would mistake my athletic build with the typical Asian male.
ReplyDeleteDon't have much time today, the last day of the Republican convention, to write my thoughts about the last three days. I will get to it this weekend. Any thought on your part?
MSU lucked out today. I don't think M will be so lucky tomorrow with the running back suspended and playing a superior Alabama team. MSU should have defeated Boise State easily today. But this points out how important a great qb is in football. I think if either team had their qb from last year, it would have won today. MSU has an excellent defense but if the passing game does not improve a lot, it would be difficult to win the Big Ten. Boise State will now win whatever conference it is in this year and then go to a crummy bowl game.
ReplyDelete