(1) Start with the FLAT TAX. This was first proposed by Mr. Steve Forbes back in the 1980’s. Now over 20 countries are using that system and all these countries are prospering. Even Russia is using this system and they were taxing their people at 20%. Last year they cut their income tax to 18%. Capital Gaines and Income would be taxed at the same rate. Also as added protection, it would take a super majority of the Congress to change the tax rate. Then there is the other side of the problem SPENDING. There is an allusion that the government owes you something for being a citizen. Wrong, the Constitution and the Bill of Rights explain the protections that are offered. If you think past that and ask, what else does the government actually owe you, I would say, assess and opportunity. Assess to credit such as those provided by our financial communities or another example would be the opportunities offered in education. Then it is up to you to achieve the quality of live you’re comfortable with.
(2) Our financial institutions are another problem that the Congress addressed. They did this by forcing all banks and other lending institutions to be over capitalized. Look the banks, that got the country in trouble, should be held accountable. We can all agree to that. But now the smaller banks are also in this disciplinary situation created by the large banks. Wrong idea; remove the small banks from this kind of oversight. They did nothing wrong. They did; the do diligence, back ground checks and all the correct paperwork. This was and never will be a small bank problem. This created the small business credit crunch. Now the small banks are hard pressed to make loans. These small banks are the life’s blood of small business. Big banks don’t want to deal with small business. Let the small banks off the hook and do what they are best at, working with small business. Living off the government is not a right; it makes you a vegetating economic slave.
(3)The next problem is how to rebuild the blue collar middle class. I think that if you are an hourly worker, Union or Non-Union, you should only be taxed on 40 hours. Yes, all over time is untaxed for 5 years. That would allow the Blue Collar Middle Class to rebuild their savings and credit ratings.
(4)Now about Social Security, it should be treated the same as a ROTH-IRA. That and it’s no one’s business, if a senior citizen wants to continue working.
(5) Our patriots that are now serving in uniform and their families have been living at the poverty level. That has to stop. This would help. All men and women on active duty pay no income tax. Do that instead of giving them a raise. Then if their wife is working outside the home, to supplement their income, they pay ½ what ever the Flat Tax rate is. That would bring their income up.
(5) Our patriots that are now serving in uniform and their families have been living at the poverty level. That has to stop. This would help. All men and women on active duty pay no income tax. Do that instead of giving them a raise. Then if their wife is working outside the home, to supplement their income, they pay ½ what ever the Flat Tax rate is. That would bring their income up.
(6) All low income service workers, (Like restaurant workers and taxi drivers for example.) would not have their tips taxed. That would help them without upping the minimum wage.
(7)The government punishing a senior citizen for working is un-American. You contributed to Social Security; you should never have those benefits taken away from you. Rebuilding Social Security is possible by taking monies from every agency, program and department that took money out of Social Security and put those monies back. I feel 5% of their federal budget each year until all monies are returned is workable. That way you won’t have to reduce benefits to seniors or shaft workers by raising their contributions to the social security system.
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