"Such tax inversions mean less money for the United States Treasury. As a result, the rest of us end up either paying higher taxes to support the government or enjoying fewer government services. So the president has good reason to be concerned."
But tax breaks for certain corporations are OK. What's the difference?
The author of the article is on to the right approach, in my humble opinion, but he strays about keeping income taxes for the rich and value added schemes etc. There are a few other decent plans, like The Fair Tax, http://fairtax.org/ out there, which I think parts could be borrowed from to achieve the best situation.
1. Repeal the 16th amendment. It can be shown to be the root of most problems this nation faces today. (repeal the 17th too, but that's another discussion)
2. Eliminate all corporate taxes
3. Stop property tax, inheritance taxes and other designs people have on private property.
4. Institute a sales/consumption tax on everything. to fund the current government, it'd have to be hefty. I haven't done the math, but I've heard numbers like 30% kicked around. I'd suggest that we had an additional 1 or 2% (depending on where the math works out) so that we can give a "pre-bate" to everyone. I'd go a bit higher than the Fair Tax plan, say 600 per month per adult and 400 per child. That way the poor, who will have less to spend overall, will effectively pay little or no tax.
5. Collect the sales taxes at the municipal level (town or city). They hold 1/2 in escrow and the counties will have to submit their budget to the towns, who vote on funding it from the escrow. The counties then also hold 1/2 in escrow to fund the state and the federal government then has to submit its budget to the states in the same fashion. The state and fed have to submit their budgets 1 year in advance.
Then we will have solved a multitude of problems:
Social Services will be heavily weighted at the local levels
The Fed will have very little power to meddle in other countries affairs and get into wars which are not purely defensive
We all have the security of not worrying about having our homes and property seized for no-payment of taxes.
No payroll taxes, eliminating an extra burden of expense and stress for small business owners.
No one will care what country an employee calls home, because when they spend money, they will be paying the same tax as everyone else.
The state has very little ability to fund unpopular laws like the SAFE Act. And can't shove mandates down the counties throats. They have to ask, nicely.
No more need for IDA's and EDC's. The playing field becomes level. There will be no tax breaks for certain companies, everyone pays the same.
And here's a big one: No more big time, big money lobbyists in Albany and DC. The state and Fed politicians will not be in control of how most of your money is spent. You will be through your local town and city government. It's much harder to lie and steal from the people when you have to face them at the grocery store, little league games or church.
We can take back our government, it starts with repealing the 16th amendment.
"Such tax inversions mean
"Such tax inversions mean less money for the United States Treasury. As a result, the rest of us end up either paying higher taxes to support the government or enjoying fewer government services. So the president has good reason to be concerned."
But tax breaks for certain corporations are OK. What's the difference?
The author of the article is on to the right approach, in my humble opinion, but he strays about keeping income taxes for the rich and value added schemes etc. There are a few other decent plans, like The Fair Tax, http://fairtax.org/ out there, which I think parts could be borrowed from to achieve the best situation.
1. Repeal the 16th amendment. It can be shown to be the root of most problems this nation faces today. (repeal the 17th too, but that's another discussion)
2. Eliminate all corporate taxes
3. Stop property tax, inheritance taxes and other designs people have on private property.
4. Institute a sales/consumption tax on everything. to fund the current government, it'd have to be hefty. I haven't done the math, but I've heard numbers like 30% kicked around. I'd suggest that we had an additional 1 or 2% (depending on where the math works out) so that we can give a "pre-bate" to everyone. I'd go a bit higher than the Fair Tax plan, say 600 per month per adult and 400 per child. That way the poor, who will have less to spend overall, will effectively pay little or no tax.
5. Collect the sales taxes at the municipal level (town or city). They hold 1/2 in escrow and the counties will have to submit their budget to the towns, who vote on funding it from the escrow. The counties then also hold 1/2 in escrow to fund the state and the federal government then has to submit its budget to the states in the same fashion. The state and fed have to submit their budgets 1 year in advance.
Then we will have solved a multitude of problems:
Social Services will be heavily weighted at the local levels
The Fed will have very little power to meddle in other countries affairs and get into wars which are not purely defensive
We all have the security of not worrying about having our homes and property seized for no-payment of taxes.
No payroll taxes, eliminating an extra burden of expense and stress for small business owners.
No one will care what country an employee calls home, because when they spend money, they will be paying the same tax as everyone else.
The state has very little ability to fund unpopular laws like the SAFE Act. And can't shove mandates down the counties throats. They have to ask, nicely.
No more need for IDA's and EDC's. The playing field becomes level. There will be no tax breaks for certain companies, everyone pays the same.
And here's a big one: No more big time, big money lobbyists in Albany and DC. The state and Fed politicians will not be in control of how most of your money is spent. You will be through your local town and city government. It's much harder to lie and steal from the people when you have to face them at the grocery store, little league games or church.
We can take back our government, it starts with repealing the 16th amendment.
Corporations have never paid
Corporations have never paid taxes,only customers of the corporations pay the taxes.
At 35%, the United States has
At 35%, the United States has the highest nominal top corporate tax rate in any of the world's developed economies.
http://taxfoundation.org/blog/us-has-highest-corporate-income-tax-rate-…