Quote:
Originally Posted by mdmarvich
Great plan. I believe you've just increased the effective tax rate on the average middle class family to about 80%. Well done.
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I don't believe so. I've read the plan numerous times and I really like how things are broken. I am inherently opposed to a progressive tax system.
Tax me on what I spend...not what I earn.
If you factor in (out, actually) all the built-in taxes on goods/services, the actual dollar amount required to purchase goods/services would decrease. You'd also eliminate all the myriad of deductions, exemptions, etc and dramatically simplify our ridiculously cumbersome tax system.
That's just me though. I am almost ALWAYS on the side of less government, etc. I was opposed to Bush's bailout and I am opposed to Obama's coming "stimulus" plan. Let the market work itself out. I blame the government, irresponsible lenders (who were encouraged by the government to make bad loans thanks to the backing of Fannie/Freddie on horrible loans) and borrowers/home "owners" who bit off more than they could chew. Sure, a few of the sob stories about being tricked, deceived, lied to are true, but most of the time, people just wanted more than what they could afford.
What in the world is the government doing backing mortgages in the first place? Should there have been more regulation? I don't know. I do strongly believe that government policies to promote homeownership helped contribute to the collapse.
Government needs to get out of the way, let the chips fall where they may and allow the American PEOPLE and the American ECONOMY to work out the problems. Homes were WAY overpriced the last several years. They are adjusting. I don't want the government artificially propping them up. In fact, I wish Congress would just go on recess for the year. The less Congress can do, the better. That is why I always prefer a President of one party and a Congress of another. Gridlock is good, as far as I'm concerned. Let them be deadlocked all the time. I don't WANT them to be able to get much of anything done. The less they aer able to accomplish (word used very loosely), the better off the nation will be in the long run.
Oh well.... my thoughts on the whole thing...