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| Changine Our Attitudes! March 7, 2008 Greed is not good according to most philosophic and economic experts, but when some government officials says “eliminate taxes” they add the unspoken phrase “as long as we can have at least 40 per cent.” Governments at all levels are constantly in search of ever more cash to oil their creaking bureaucratic machinery. In the U.S. this desire for “tax” revenues was slightly diminished when the past four administrations realized how easy it was to “just print the money”! In fact, the George Bush administration has been giving tax breaks and rebates to the people while he spends more money than any President - ever! He can do it (with the consent of Congress) by authorizing more treasury bills (IOU’s) and ordering the mint to print more money - in fact, sometimes it isn’t even necessary to run the printing presses - it can be done with “electronic” means - just push a button, move a decimal point and, wallah, you have all the money (?) needed. But some nations want to suck businesses out of America (along with the jobs and tax bases) so they adopt tax structures that become an incentive or corporate leaders to change national allegiance. Even Vice President Dick Cheney is moving his Halliburton Corporation headquarters to Dubai as soon as his term in office is over. Kuwait has passed a bill to sharply cut its uniquely high rate. Here is the one-sentence story in the Washington Post: “Kuwait’s parliament passed a bill to cut taxes on profit of foreign companies to 15 percent, abolishing a progressive scale established in 1955 with a maximum rate of 55 percent, in a bid to attract investments and diversify the economy.” The United States corporate rates remain the second highest in the industrialized world at 39.3 percent. According to a national tax group, the following countries are taking the actions listed: * Poland may adopt a flat tax * Iceland and Taiwan to cut corporate tax rates * People leaving Ireland due to high personal income taxes * Hungarian government considers a flat tax * Kuwait cuts corporate tax rate * Swiss canton adopts flat tax. Our economy is running downhill and those elected to public office don’t really understand that they are the ones who must make things right. Return jobs to the U.S. by eliminating those so-called ‘Free Trade” agreements. Return to a financial standard as defined in the U.S. Constitution. Without a standard, inflation results and the price of everything climbs. Notice, the price of gasoline when measured in Euros has not increased - it only goes up when measured in U.S. dollars. Reduce and change controls on corporations regarding essential industries. What good is it to place prohibitive environmental controls on a smelter or refinery in Arizona or along the Texas border with Mexico and then allow the U.S. firm to move to Mexico and build the same polluting structure a few miles from our border? This is stupidity and it costs Americans dearly - in health and finances! CUT TAXES - In Fact, eliminate income taxes on individuals - and in doing so, reduce or eliminate spending for “entitlements” and on things like being the policeman to the world. |