Yesterday I decided to share with you some of my political views. One of those views had to do with taxes. How fortunate for me that Joe Biden made this statement on ABC yesterday when asked about increasing taxes on those who make $250,000 or more: "It's time to be patriotic...time to jump in, time to be part of the deal, time to help get America out of the rut..." I know this may bother some of you but I do agree with McCain on his statement, "Raising taxes in a tough economy isn't patriotic...it's just dumb policy."
The point here is that raising taxes isn't good for the economy - cutting spending is. Why is it that we never hear those words. Why is the American taxpayer constantly forced to flip the bill for things that we do not want? We find ourselves today bailing out more and more companies on wall street, possibly even covering mortgages that should have never been given out anyway, and paying for ridiculous programs and bills that Congress places in the budget.
Allow me to introduce the "Fair Tax" again. Go to www.fairtax.org and you can read the plans to get rid of our current tax system in favor of a national sales tax. Think about it folks - keeping your entire paycheck because there will be no more payroll taxes,and no more putting money into medicare & social security. How are taxes paid? When you and I make purchases. Not only that but it's the best flat tax plan out there. Consider this: whenever someone comes to this country to visit they must buy things. Every time they buy something they help to fuel the budget of the United States.
Some on the outside might say - But what about the check I get during tax season? There will still be money coming to you based upon your income bracket, size of family, etc. You have to look into the details in the plan to understand that not all of the money that will go to the federal government will stay there. What about prices? Well, under the fair tax plan you will also be removing taxes on corporations and when you remove taxes on corporations prices will drop. Think about all of the anger in our society over jobs that have gone overseas. If the United States adopted this plan it's been my understanding that most (if not all) of those companies would move their operations back to the states which means more jobs for the American worker.
We have heard over and over again that our system is broke (doesn't work). If it's broke then why don't we stop trying to patch it up? Let's replace a broken system with one that guarantees a boost in our economy and a boost to your financial progress.
I'm fortunate that Joe Biden made his taxes comment because it gave me a platform to share this with you today. However, it won't be fortunate for our economy if Obama wins the presidency and implements it. There is a difference in strengthening the economy and fattening the purse of government. Don't link government being able to fund all of its programs with economic strength.
Have a great weekend and remember this - "Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal; but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do no break in and steal. For where your treasure is, there your heart will be also." Matthew 6:19-21
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