Tuesday, October 25, 2011

More Crazy For You

Sorry to have been so MIA around here lately but life's little pressures are interfering. Anyhow, and true to form, the "clown car" of GOP presidential candidates have delivered us another crazy tax plan. This time it is Cowboy Perry and he has a flat tax for us.
  1. An optional flat tax of 20 percent. ( Do the math and you will see that this is actually only a tax cut for people making more than about 70K$ per year of regular income.)
  2. Reducing the corporate tax rate to 20 percent. (The real problem with the corporate tax code is that it is rife with loopholes that allow corporations to avoid paying any taxes. This does not even address it.)
  3. Completely eliminate taxes on long-term capital gains. (Let me see now...who makes most of their income off capital gains? Another giveaway to the wealthiest.)
  4. Cap federal spending at 18 percent of GDP.  (Federal spending hasn't been this low since 1966. Even under Saint Reagan it never fell below 21.3%.)
  5. Allow younger workers to opt-out of Social Security. (This fits nicely with the GOP plan of destroying Social Security. This will starve SS of revenue and kill it quickly.)
I guess we should be grateful that the idiots have finally quit trying to disguise their economic policies as "good for the average Joe" and are now just brazenly trying to destroy the middle class and enrich the rich further.

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