Kevin Brady and Congress promises the same old kabuki dance on tax reform!. See: Trum


#1

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See: Trump may get tax reform bill by year’s end, Rep. Brady says

”On Thursday the “Big Six,” top GOP tax reform leaders in Congress and the Trump administration – including Brady, Senate Majority Leader Mitch McConnell of Kentucky, Senate Finance Committee chairman Orrin Hatch from Utah, National Economic Council Director Gary Cohn and Treasury Secretary Steven Mnuchin – issued a joint statement on their strategy for changing the U.S. tax code. Most notably, the group agreed to drop the proposed border adjustment tax – which would have allowed the government to slap fees on companies importing goods – from the new plan.”

As long as these scoundrels keep alive a “tax code” allowing Congress to lay and collect taxes calculated from profits, gains, wage, tips and other lawfully earned “incomes”, there is no “tax reform”!

Is it not a fact that taxes calculated from profits, gains, salaries, wages, tips, and other lawfully earned “incomes” are used to generate class warfare, manipulate the economy and to divide the people while picking the people’s pockets? Is it not a fact that our current system of taxation is specifically used to redistribute wealth from the productive to a government created dependent voting block which prostitutes its vote for free government cheese? Is the power to tax “incomes” not used as a political weapon to punish those who dare to speak out against the Washington Establishment and flagrantly used by our Washington Establishment to reward political friends and punish its enemies?

If there was ever one thing which could actually bring America’s businesses, investors and hardworking wage earners together in a unified political movement it would definitely be tax reform, but only if it is designed to remove the iron fist of government from the necks of the American People, provide sufficient taxing power to meet Congress constitutionally authorized functions, and the “reform” would hold members of Congress immediately accountable when it engages in deficit spending. Is there such a tax plan? You bet there is and it was created by our Founding Fathers. So, let us review tax reform, our Founders’ way.

The Fair Share Balanced Budget Amendment

“SECTION 1. The Sixteenth Amendment is hereby repealed and Congress is henceforth forbidden to lay any tax or burden calculated from profits, gains, interest, salaries, wages, tips, inheritances or any other lawfully realized money.

NOTE: these words would return us to our founding father’s ORIGINAL TAX PLAN as they intended it to operate! They would also end the failed experiment with allowing Congress to lay and collect taxes calculated from lawfully earned “incomes” which now oppresses America‘s economic engine and robs the bread which working people have earned when selling their labor!

“SECTION 2. Congress ought not raise money by borrowing, but when the money arising from imposts duties and excise taxes are insufficient to meet the public exigencies, and Congress has raised money by borrowing during the course of a fiscal year, Congress shall then lay a direct tax at the beginning of the next fiscal year for an amount sufficient to extinguish the preceding fiscal year’s deficit, and apply the revenue so raised to extinguishing said deficit.”

NOTE: Congress is to raise its primary revenue from imposts and duties, [taxes at our water’s edge], and may also lay miscellaneous internal excise taxes on specifically chosen articles of consumption. But if Congress borrows and spends more than is brought in from imposts, duties and miscellaneous excise taxes during the course of a fiscal year, then, and only then, is the apportioned tax to be laid.

“SECTION 3. When Congress is required to lay a direct tax in accordance with Section 1 of this Article, the Secretary of the United States Treasury shall, in a timely manner, calculate each State’s apportioned share of the total sum being raised by dividing its total population size by the total population of the united states and multiplying that figure by the total being raised by Congress, and then provide the various State Congressional Delegations with a Bill notifying their State’s Executive and Legislature of its share of the total tax being collected and a final date by which said tax shall be paid into the United States Treasury.”

*NOTE: our founder’s fair share formula to extinguish an annual deficit would be:

States’ population

---------------------------- X SUM TO BE RAISED = STATE’S FAIR SHARE

Total U.S. Population

The above formula, as intended by our founding fathers, is to insure that the people of each state, whenever Congress lays a direct tax, shall contribute a share of a total sum being raised which is proportionately equal to its representation in Congress i.e., representation with a proportional financial obligation!*

*Note also that each State’s number or Representatives, under our Constitution, is also determined by the rule of apportionment:

States Pop. ------------------- X House size (435) = States No. of Representatives
U.S. Pop.*

“SECTION 4. Each State shall be free to assume and pay its quota of the direct tax into the United States Treasury by a final date set by Congress, but if any State shall refuse or neglect to pay its quota, then Congress shall send forth its officers to assess and levy such State’s proportion against the real property within the State with interest thereon at the rate of ((?)) per cent per annum, and against the individual owners of the taxable property. Provision shall be made for a 15% discount for those States paying their share by ((?))of the fiscal year in which the tax is laid, and a 10% discount for States paying by the final date set by Congress, such discount being to defray the States’ cost of collection.”

NOTE: This section respects the Tenth Amendment and allows each state to raise its share in its own chosen way in a time period set by Congress, but also allows the federal government to enter a state and collect the tax if a state is delinquent in meeting its obligation.

"SECTION 5. This Amendment to the Constitution, when ratified by the required number of States, shall take effect no later than (?) years after the required number of States have ratified it.

JWK

“……with all these blessings, what more is necessary to make us a happy and a prosperous people? Still one thing more, fellow-citizens—a wise and frugal Government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicities“. Thomas Jefferson, First Inaugural Address


#2

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Senate Minority Leader Charles Schumer is already babbling on about taxing the rich, allegedly because he cares for the middle class.

But has the “middle class” already forgotten how the Democrats have taken their doctors from them; have taken the health-care plans from them which they wanted to keep; and have used the force of federal taxation to transfer their paychecks to able bodied government cheese eaters who are too lazy to work to meet their own economic needs?

And this doesn’t even include how Chucky-boy Schumer under Obama taxed America’s middle class to pay for the economic needs of millions of foreigners who have invaded America’s borders.

Chucky-boy Schumer needs to keep his lying pie-hole shut.

JWK


American citizens are sick and tired of being made into tax-slaves to finance a maternity ward for the poverty stricken populations of other countries who invade America’s borders to give birth.***


#3

Chuck Schumer on tax reform

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There was a time not too long ago in New York when the able-bodied were ashamed to accept home relief, a program created by Franklin D. Roosevelt in 1931 when he was Governor. Now, New York City and many other major cities are infested with countless government cheese factions who not only demand welfare, but use it to buy beer, wine, drugs, sex, and Lotto tickets.

JWK


American citizens are sick and tired of being made into tax-slaves to finance a maternity ward for the poverty stricken populations of other countries who invade America’s borders to give birth***.


#4

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SEE: Senate Dems spell out conditions on bipartisan tax reform

”In a letter to Republican leaders, including President Donald Trump, 45 of the 48 Senate Democratic caucus members said they won’t support any upcoming GOP effort to overhaul the tax system that delivers cuts to the top 1 percent or adds to the government’s $20 trillion debt.”

President Trump should take the Democrats up on their determination to not add to the federal government’s $20 trillion debt. What President Trump should do is propose his budget with a proviso that if a deficit should occur at the end of the year under it, that deficit would be immediately extinguished with an apportioned direct tax laid among the States. I’m sure Chucky boy Schumer, our new fiscal conservative, would be thrilled with bringing home a bill to his pinko State and withdrawing his State’s share from his State’s Treasury to extinguish the deficit as our Founders intended.

The only problem I see with such a plan is that Chuck boy Schumer would probably be lynched on his return to his State with a bill for his state legislature to pay. And that is the wisdom of our Founder’s original tax plan ___ a very real moment of accountability for our big spending pinkos in Congress.

JWK


Are we really ok with 45 percent of our nation’s population who pay no taxes on incomes being allowed to vote for representatives who spend federal revenue which the remaining 55 percent of our nation’s hard working and productive population has contributed into our federal treasury via taxes on incomes when our Constitution requires “Representatives and direct taxes Shall be apportioned among the Several States”?



#5

If congressional Republicans would have planned for 7 years to be completely out to lunch and stupid they could not possibly have done a better job than currently being demonstrated.

Now that the Republican majority has ceded full control of Congress to the Democrats in the wake of “Repeal and Replace”, they are now in the opening act to significantly fail the American people/taxpayers on “tax reform”. Democrats are united in their common refrain of “tax the hell out of the rich” (and give it to the “poor”). The Republicans are standing at the threshold of neutering any real GROWTH oriented tax/tax rate reform.

For example, Trump has asked for a reduction in the business tax rate to 15%. Republicans have widely rejected that number in favor of a 20% rate. Democrats are demanding a rate higher than 20% and the closing of business tax “loopholes”. Consider this, while the business tax rate is currently 35%, when “loopholes” that come into play, the effective rate is more like 27%. Closing the loopholes currently afforded business would mean a 20% tax rate would and mean virtually no change in the real tax businesses pay. Does that sound like a job stimulus to any of you? Sadly, Republicans are so divided there is no chance in hell a meaningful tax reform is possible.

I will be staying home next November. I expect bull crap by Democrats, but I’ll be damned if I will allow myself to continue to get punked by Republicans. I simply cannot support this BS.


#6

Unfortunately, I agree in part with Doc. I doubt the spineless GOP will be able to pass significant tax reform of the sort President Trump wants. The dirty little secret here is that businesses DON’T PAY TAXES at all. THAT burden is carried by the consumers of those businesses’ goods and services. Lowering the business tax SHOULD lower PRICES by a like amount, therefore. Any bets that it will??? Oh, sure. In SOME small businesses, prices will probably go down–but not all of them…not by a LONG shot.


#7

Well, of course corporate taxes come out of profits made off consumers of those goods/services provided. It could not be otherwise. It must be noted, however, in order for business/corporations to expand/create jobs they must use a portion of profits to reinvest in hard assets (think offices/plants), materials and employees - both hiring, benefits, etc. Corporations/businesses are constrained by what customers are willing to pay for the goods and services they sell.

It would be expected that should the corporate tax rate be reduced it would allow business to reinvest and grow to a greater degree. Yes, the ownership/board of directors could choose to “pocket” tax savings, but a business that uses that strategy would likely become uncompetitive relatively quickly.

I could talk about off-shore accounts on money held overseas by multi-nationals, but it should be obvious to all that comparative onerous corporate rates in the USA will mean the around $2 trillion (by most estimates) earned overseas and held offshore will not return here to be invested in our economy.

Anti-business Leftists and go-along-to-get-along Republicans will continue to insist corporations, and by extension, consumers paying the corporate “pass through taxes”, get hammered and insure the economy does not grow as it is capable.

We all lose.