It was less than a year ago when Wall Street firms started seeing the first wave of government bailouts. Shortly thereafter the media and "Main Street" started crying about corporate excesses and greed. Those same people, however, are praising the "successes" of Cash For Clunkers; even advocating for a sequel Dollars For Dishwashers. Why was Clunkers a success when the Wall … [Read more...]
Cash For Clunkers Thank You For Proving Our Point
For years, conservatives and liberals have clashed over taxes. Do we tax less, and allow the free market to thrive with the increased spending, or do we tax more to allow for an increase in government spending. Cash For Clunkers has proven the conservative point of taxing less to benefit the economy, and here's how. Everyone, especially liberals are pointing out that one of … [Read more...]
Pay Your Taxes If You Have Political Ambitions
Before Timothy Geithner became the Treasury Secretary, he worked for the International Monetary Fund (IMF). The IMF employs people from all over the world, including Americans. While working there, foreigners don't have to pay US income taxes, and in an attempt to be fair to the Americans who also work there, the IMF pays the Americans for their share of income taxes. This … [Read more...]
Quit Bashing The Rich!
To all of you out there who think the rich are evil and need to be put in their place - STOP COMPLAINING! You're also probably complaining that they don't pay their fair share of taxes. Since they make so much more than the average Joe out there, they should have to pay more, a lot more, right? Well guess what? They are already! According to the Congressional Budget … [Read more...]
Why do we Tax the Rich so Much?
Consider this: • The top 1% of wage earners in this country pay over 33% of the total income tax collected; • The top 5% pays over 53%; • The top 10% pays about 65%; • The top 25% pays about 83%, and; • The top 50% pays 96% of the total income tax collected, leaving the bottom 50% to pick up the remaining 4%. Next, consider what these tax dollars go to. A good portion goes to … [Read more...]