Posted by
SoCal FairTax on Monday, September 29, 2008 5:20:04 PM
I was going to write a blog post titled “The Grasshopper, The Ant, and the Gov’t Bailout” but decided to search the internet first… It seems that someone beat me to it two days ago (although spun a bit differently)…
http://www.cnsnews.com/public/content/article.aspx?RsrcID=36377
I would add to Michelle’s story that our servants in Washington (you know... those crooks on both sides of the isle who put special interests and personal gain ahead of the interest of We the People) have chased most manufacturing away from our lands so grasshoppers and ants alike have a tougher time finding jobs in any industry other than financial services. Hmmm, what industry exactly is our economic meltdown stemming from? What exactly does the financial services industry do? Tax compliance, estate planning, insurance, investments, etc. So, insurance people buy estate planning from estate planners… estate planners engage tax attorneys and CPAs.. CPAs buy insurance… and somehow wealth is created so we can afford imported physical goods that end up on shelves of our departments and superstores? Can you say massive trade imbalance (house of cards)?
People must come to the realization that when government panders... it is time to get wise and run away. Government free lunches fall on the shoulders on a smaller and smaller base of tax-payers... Yes, I am talking about the evil rich and evil corporations.
Think about it... When we tax the evil corporation another 5-10% (from 35% to 40 or 45%) one or more of the following happens:
1. We cause higher costs (taxes) to be priced into the products and services that we consume. Raise the taxes on oil companies and tell me that it won’t show up at the pump. So, who pays for higher corporate taxes? WE DO! Nice smoke and mirrors though... Get the masses to believe that Washington is looking after us when Washington is really stabbing us in the back!
2. We chase corporations (and jobs and prosperity) away from our lands to tax-friendly countries like Irland where corporate tax is 12%. How else are they to compete with cheap imports?
3. We cause corporations who remain to die on the vine because they simply cannot compete.
What we need more than anything is to build prosperity throughout our lands. We need to remove barriers for business within our lands. We need to plug the leaks (wasted $$ on tax compliance and unnecessary business regulation) and stop punishing producers within our lands. We also need to stop making it so darn cozy for non-producers who suck the life out of our economic engine!
Our tax system is a great place to start!
The FairTax (www.fairtax.org) make the U.S. a tax haven and invite $12-trillion back to our lands to invest which would create jobs and prosperity. These jobs, where workers would actually produce something vs. simply help in regulatory compliance), could then create wealth which would be reinvested in our nation and bring about the greatest period of prosperity our nation has ever seen.
Folks, it is time to get serious. We need to be knowledgeable about solutions and push our elected officials to know that we aren't going to put up with their nonsense any longer.
It may be time for a 2008 version of the Boston Tea Party.
Cheers,
YK