Govt. Redistributes Wealth to the Rich, Not Poor

[Dave Roberts]

The IRS Code is really "The Tax Lawyers and Accountants Full Employment Act." It's another government favoritism to a class of workers. Solyndra is nothing beside this government favoring of one group over others.

[ET]

[Dave Roberts]

ET, I would be heartily in favor of simplifying the tax code. Here are some suggestions that would allow rate reductions:

1. Lift the cap on Social Security so all wages, or at least the first $500,000 per year are subject to Social Security. Then the system would have sufficient funds.

2. Tax all income, whether wages or investments at the same rates. This would allow lowering the rates for everyone.

3. Cap all deductions at $100,000 whether they are for gifts, mortgage interest, medical expenses, or any other acceptable deduction.

4. Eliminate the favoritism in the tax code whether for oil depletion allowances or renewable energy.

5. Tax all foreign income whether from accounts of US citizens held in foreign countries or the US at the same rate.

Those might be a starting place.

[Hal Eaton]

I just listened to the R. Okla. Senator tell us that the interest on the national debt is 2.8 billion bucks a year.

I am not conversant with the ins-and-outs of governmental budgeting. but I have raised this question before, and never received an answer . . .

My personal view is that dollars mean absolutely nothing to me, except that it measures how much money comes from my pocket, and how much is put back in.

If our interest costs are so staggeringly high, my question is simple: Who gets the dough? Who is getting rich at the (supposed) rates of interest? Who writes the checks for those recipients?

That's my money (at least in part) that is being given away, with no forseeable benefit for me and mine.

Here's part of my plan: Cut Medicare to the bone, and save all that money. The long-term result will be that all of us old folks will die much sooner; both Medicare and Social Security will thereby be far less expensive; many government pensions will cease. Think of how much money will be saved! (Perhaps even 47%.)

I'm still looking for the right arm of government in which to apply my expertise. (And which party? Democrat? Republican? Libertarian? Tea Party? Independent? None seems able to satisfy my personal needs, desires, salvation, and/or survival).

IMO Oh yeah, TIC

Personal confession: After years of putting it off, I , just last week, finally bought stock in Apple.