California Raises Taxes, Lose Revenues…Again!

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They say that they definition of insanity is doing the same thing over and over, and expecting a different result.  If that is indeed the case, California’s tax policies make them the official land of fruits and nuts, as they are proving the insanity axiom to be most true.

On March 15th of this year, we took a look at the fact that after yet another failed tax increase…

One of the greatest weaknesses of the statists is that their efforts at creating a fantasy world. more often than not, create the exact opposite of their stated intent.  They try to engineer unicorns that fart rainbows, and they create a stillborn jackalope.  You would think that they would learn from such infamous failures, but they seem to double-down instead.  The latest example of this comes from Califailure.   Knowing, and probably denying, the long history showing that tax increases  cause a decrease in revenues, they have stuck with the highest tax rates in the country.  Breitbart has the predictable results.  

State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., ‘I have found it’. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011.

While California Governor Brown promises strong economic growth is just around the corner, Chaing proves that the best way for Sacramento politicians to hurt the economy and thereby generate lower tax revenue, is to have the highest tax rates in the nation.

California politicians seem delusional in their continued delusion that high taxes have not savaged the State’s economy. Each month’s disappointment is written off as due to some one-time event.

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So then, they raised taxes, and lost revenue.  If one did something and it hurt, you’d think that they’d stop, or at least never go back for a repeat hurting.  However, the electorate in California hasn’t shown that very basic level of what the rest of us would call “common sense,” or more simply…Duh!  Since they don’t possess the sense of “duh,”  they chose to double down on stupid, with the same results.  Breitbart has the totally unshocking and completely predictable aftermath…

California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget. 

Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now appears that high income earners have already “voted with their feet” by moving themselves and their businesses out of state, resulting in over $1 billion shortfall in corporate and income taxes last month and the beginning of a new financial crisis.   

Passage of Proposition 30 set off euphoria and expectations of higher spending for public employees. The California Teachers’ Association (CTA) trumpeted: “California students and working families won a clear victory today as voters clearly demonstrated their willingness to invest in our public schools and colleges and also rejected a deceptive ballot measure aimed at silencing educators, other workers and their unions.” 

This one is funny, because the results were instantaneous.  However, the reality remains-you tax something, and you usually end up with less of it to tax.

But don’t worry, it’ll be someone else’s fault, I’m sure.

 H/T:  Doug Ross

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High Cigarette Taxes Backfire Once Again: Illinois Latest State to Collide with Reality

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Who would have thought that higher cigarette taxes would reduce tax revenue?  Well, anyone with a brain would have predictecd that, so I guess that’s why regressives went and did it anyway.  Hot Air has the details…

With some time having passed to let the cash cow fatten, we should check back in and see what the fine citizens of the Land of Lincoln are doing with their new found largesse. I do hope they’re not all getting fat and lazy now that all of the state’s fiscal problems have been solved. Ahhh… happy days.

When Illinois Gov. Pat Quinn signed a bill adding another dollar a pack to the state’s cigarette tax, law enforcement leaders knew they had their hands full.

John Chambers, head investigator for the Illinois Department of Revenue, says cigarette smuggling now rivals illegal drug smuggling, and street gangs are getting involved.

“Keep in mind this is very similar to drug activity, smuggling drugs, and there could be concealed compartments, false floors in the bed of a truck, much like drugs, all packed with cigarettes,” Chambers said.

In Cook County, the tax on smokes is now $4.66 a pack. In Indiana it’s $0.995. Missouri checks in at $0.17. Who could possibly have seen this coming?

In a recent study, University of Illinois at Chicago professor David Merriman found 75 percent of cigarettes in Chicago didn’t have the proper tax stamps. He says the most recent increase will likely have a big impact along state lines.

“For the ordinary everyday smoker, many of them have already found ways to avoid the tax. I think it’s going to be a much bigger issue in areas where the state border makes it a big difference,” Merriman said.

A clerk at a tobacco shop in Hammond, Ind., less than a mile from the state line, says business has doubled since the latest increase began at the end of June.

How many times does this have to happen before the regressives see that it doesn’t work?  This humble blogger has been covering this type of thing since 2009.  Like this…

Native Americans are exempt from cig taxes.  Guess what?  People go to them and buy their smokes!  That seems simple enough, but as usual, there is more here.

The tax hike, the first in six years, is expected to earn the state between $200 million and $300 million. A pack of premium cigarettes in New York City now costs $7 or $8; prices would rise to above $9. Opponents of the tax increase argue that higher prices would drive smokers to seek ways to evade the law and purchase cheaper cigarettes from smugglers or in neighboring states, blunting potential revenue gains for the state. “It’s a black market gold mine,” a senior fellow at the Manhattan Institute, E.J. McMahon, said of the proposed tax. “You have to invest resources in scores of attorneys, cops, and auditors, who are all part of the tax enforcement you need.”

“By raising cigarette taxes you help fund the mob,” the president of Americans for Tax Reform, Grover Norquist, said. “Cigarettes are easier than liquor, as they’re lighter and smaller per container. It leads to smuggling and smuggling is done best by organized crime.”

And there’s even more…

Mr. Norquist said New York’s proximity to states with lower taxes would lead smokers to cross the border to buy cigarettes, reducing tax revenue below state projections.

New York has seen significant increases in its cigarette tax rates before. In 2002, New York City’s cigarette tax increased to $1.50 from $0.08, as part of an initiative by Mayor Bloomberg to encourage smokers to give up the habit. Although the taxes produced an increase in city and state revenue, some smokers took illegal measures to avoid paying the new tax, costing taxpayers tens of millions of dollars.

A 2007 report by the Independent Budget Office, a nonpartisan city agency that analyzes the city’s finances, found that 27% of city smokers and 34% of upstate smokers sometimes bought “under-taxed” cigarettes in 2006. These smokers avoided the tax by buying cigarettes from other states, ordering cigarettes over the Internet, and purchasing cigarettes at Indian reservations. The city lost an estimated $40 million in tax revenue as a result of cigarette tax evasion in 2006, according to the report.

“It encourages people not to be ripped off,” the founder of Citizens Lobbying Against Smoker Harassment, Audrey Silk, said of cigarette taxes. “Any consumer who’s so abused will look for ways to avoid it, making outlaws out of normally law-abiding citizens.”

 And here…

Apparently, raising taxes on tobacco products is falling out of favor with state governments…

According to Patrick Gleason, director of state affairs for the conservative Americans for Tax Reform, tobacco has not been the revenue boon states that have increased cigarette taxes had hoped.

“The lack of interest in raising tobacco taxes this year can be attributed to the fact that tobacco taxes have indisputably proven to be a dubious and declining source of revenue,” Gleason told TheDC. “From 2003-2007, 16 of 59 tobacco tax hikes fell short of revenue projections.”

Here in Washington D.C., for example, the city’s 2009 $0.50 tax hike resulted in a severe drop in expected revenue. In 2010, the District of Columbia’s chief financial officer Natwar Gandhi reported to the mayor that the projected government intake was over $15 million below what they had initially estimated.

Gleason pointed out that for revenue, cigarette taxes are proving to be a loser.

“New Jersey raised its cigarette tax by 17.5 cents in 2007, yielding $52 million less than Garden State lawmakers anticipated and $22 million less than was generated prior to that tax hike,” Gleason told TheDC. “Over the past decade it has become clear that tobacco taxes are an unreliable source of revenue and one in which no budget should depend on.”

And here…

  For the latest, NY State is lamenting the fact that their cigarette tax revenue is far below expectations…

The Empire State is struggling to bring in additional tax revenue it projected it would gain from efforts to stop smokers from buying untaxed  cigarettes on Indian Reservations, reports the New York Post:

The state’s tax collectors were recently calling around to convenience-store owners, wondering what was up. The $130 million in extra tax that Albany was expecting from a change in the law about cigarette sales on Indian reservations wasn’t happening.

A memo sent to members of the New York Association of Convenience Stores from the group’s president, Jim Calvin — a copy of which I have on my desk — said, “I got a call from Gov. Cuomo’s budget office yesterday. In examining cigarette tax receipts so far this fiscal year (April 1 to March 31) it looks like they will fall considerably short of their projection in new revenues. . . .”

The state had hoped to get the extra dough by enforcing a new law that made it illegal for licensed cigarette wholesalers in the state to sell untaxed name-brand cigarettes like Newport and Marlboro to Indian reservations.

Seriously, how many more times does this have to happen before the regressives get it?  They say that the definition of insanity is doing the same thing again and again, and expecting a different result.  Apparently, regressives are the craziest folks on Earth, as they are the energizer bunnies of taxation.   Unfortunately, they are continuing to raise taxes of all sorts, and it’s only going to hurt people, or turn them into criminals.

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Are Washington Leaders Ruining the Economy on Purpose or Are They Just Plain Ignorant?

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Government officials in Washington would have you believe that the economic decisions they are making are in the best interest of the public and that chief economic advisors agree they are doing the right thing. These officials would have you believe that running a country (economically speaking – macroeconomics) is vastly different than running your small business or your individual budget (microeconomics).  This is what they want you to believe, but in reality they are wrong.

Whether you are running a household, a business or a country, certain firm concrete realities exist.  The biggest one of those is: if you spend more money than you bring in, you WILL go broke!  Allowing our government to spend more than they bring in on a continuous basis is a crime.  If we tried that, we would go bankrupt. Eventuallty, we would run up against a huge wall and have to pay the consequences of our egregious spending. Yet U.S. citizens sit back and allow it to continue happening believing somehow that those in authority in Washington know more about what they are doing than we do.

So, what should government do to get things back under control? There is really only two alternatives – 1) bring in more money; or 2) reduce spending.  Of the two alternatives, the one that makes more sense is to reduce spending. Think about your household budget. You work 40+ hours a week making a certain amount of money. Which is the best way to go?  Do you go out and get a 2nd and/or 3rd job and try to work more hours to increase your income, or do you evaluate your budget and see where you can cut back? Maybe you quit getting weekly manicures and pedicures. Maybe you shop for your clothes at Sears instead of Macys. If you are in drastic financials straits, you sell your expensive home and cars and adopt a more modest lifestyle.

It is the same with big government. To keep increasing taxes in order to bring in more money is ludicious and unfair to the citizens and corporations of the United States. The most sane and common sense thing to do is to scale back the size of the federal government in order to decrease the amount of money being spent, yet no one in any of the governmental agencies want to do that, because it means losing their job and/or their power.  So that brings me to President Obama’s economic plan for his second term.

The Council on Foreign Affairs has a blog called “The Candidates and the World”. In their April 11th article entitled “Obama Makes New Case for Tax Hikes”, it says:

“President Barack Obama doubled down on his economic case for a second term, which he explained favors boosting social programs that benefit the middle-income Americans in sharp contrast withRepublican’s past and future proposals to spur growth with upper-income tax cuts.

“I’m saying, you’re bringing in a million bucks or more a year. Then, what the rrule says is you should pay the same percentage of your income in taxes as middle-class families do.  You shouldn’t get special tax breaks. You shouldn’t be able to get special loopholes,” he said. “And if we do that, then it makes it  affordable for us to be able to say for those people who make under $250,000 a year – like 98 percent of American families do – then your taxes don’t go up.”

On the surface this sounds reasonable. It does seem reasonable that the really rich pay the same percentage as the middle class. Nobody wants to pay more taxes, right? However, when you follow that logic to it’s conclusion then the middle class would end up a lot worse off than they are right now and our country would be economically worst off.  I’ll try to explain how.

First, there is a story in basic economics calls “The Broken Window” by Bastiat. It goes like this:

A young hoodlum, say, heaves a brick through the window of a baker’s shop. The shopkeeper runs out furious, but the boy is gone. A crowd gathers and begins to stare with quiet satisfaction at the gaping hole in the window. After a while the crowd feels the need for philosophic reflection. They remind each other and the baker that the misfortune has its bright side. It will make business for some glass-maker. As they begin to think of this they elaborate upon it. How much does a new plate glass window cost? Fifty dollars? That will be quite a sum. After all, if windows were never broken, what would happen to the glass business? The glass-maker will have $50 more to spend with other merchants, and these in turn will have $50 more to spend with still other merchants, and so on. The smashed window will go on providing money and employment in ever-widening circles. The logical conclusion from all this would be that the little hoodlum who threw the brick was actually a public benefactor.

Now let us take another look. This little act of vandalism will provide more business for some glass-maker, but the shopkeeper will be out $50 that he was planning to spend for a new suit. Because he has had to replace a window, he will have to go without the suit (or some other need or luxury). Instead of having a window and $50 he now has merely a window. If we think of him as a part of the community, the community has lost a new suit that might otherwise have come into being, and is just that much poorer.

The glass-maker’s gain of business, in short, is merely the tailor’s loss of business. No new “employment” has been added. The people in the crowd were thinking only of two parties to the transaction, the baker and the glass-maker. They had forgotten the potential third party involved, the tailor. They forgot him precisely because he will not now enter the scene. They will see the new winodw in the next day or two. They will never see the extra suit, prescisely because it will never be made. They see only what is immediately visible to the eye.

So here is the application – if Obama raises the taxes on corporations and individuals making over $250,000, especially those making a million or more, that extra cost will trickle down to the middle class. If you are a company who now has to pay more taxes, then one of two things has to happen.

1) reduce your net profits or
2) pass the amount of increased taxes down to the consumer (us) by increasing the price of that product or service.

Neither of those two scenarios are good for the average middle class American.

In reducing their profits, they then cannot increase the amount of product they make. They cannot invent, create and grow their business. They cannot hire additional people, and may even have to lay-off people.

In the second scenario – passing the cost down to the consumer – we pay more for the products and/or services we purchase which in turn reduces the amount of money we can spend and products we can buy.

The goal of the federal government should be to make it easier in our country for our companies big and small to do business and make profits. This, in turn, will increase employment rates and decrease the cost of products and services that the middle class has to buy.

Instead Washington needs to decrease the amount of money they spend in order to decrease the deficits in Washington. They need to decrease the scope of government in order to decrease the amount of money they spend. The first step they should take is to totally shut down The Department of Education. It is a useless and damaging agency. From there, let the slashing begin.

So what is the answer to the originial question?  Are Washington leaders ruining the Economy on purpose or are they just plain ignorant? Well I really can’t answer that question. Only God knows the heart of men. However, my women’s intuition says that they are purposefully trying to bring an economic crisis to the United States. For what purpose? Central Planning and Socialism maybe or setting the stage for global governance? Who knows. Let me know what you think Washington is up to!

Original Post:  Faithful In Prayer

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California Raises Taxes and Revenues Decrease: Who Saw That Coming?

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One of the greatest weaknesses of the statists is that their efforts at creating a fantasy world. more often than not, create the exact opposite of their stated intent.  They try to engineer unicorns that fart rainbows, and they create a stillborn jackalope.  You would think that they would learn from such infamous failures, but they seem to double-down instead.  The latest example of this comes from Califailure.   Knowing, and probably denying, the long history showing that tax increases  cause a decrease in revenues, they have stuck with the highest tax rates in the country.  Breitbart has the predictable results.  

State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., ‘I have found it’. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011.

While California Governor Brown promises strong economic growth is just around the corner, Chaing proves that the best way for Sacramento politicians to hurt the economy and thereby generate lower tax revenue, is to have the highest tax rates in the nation.

California politicians seem delusional in their continued delusion that high taxes have not savaged the State’s economy. Each month’s disappointment is written off as due to some one-time event.

During the last three years, how many times did we hear “unexpected” when confronted with negative economic news?  It got to the point where the message went out to stop using the word “unexpected.” Of course, the only people caught by surprise were government stooges and the MSM-we knew it was coming.  Just as it is with California.

But, the problems for Califailure continue.

Spectrum Locations Consultants recorded 254 California companies moved some or all of their work and jobs out of state in 2011, 26% more than in 2010 and five times as many as in 2009. According SLC President, Joe Vranich: the “top ten reasons companies are leaving California: 1) Poor rankings in surveys 2) More adversarial toward business 3) Uncontrollable public spending 4) Unfriendly business climate 5) Provable savings elsewhere 6) Most expensive business locations 7) Unfriendly legal environment for business 8) Worst regulatory burden 9) Severe tax treatment 10) Unprecedented energy costs.

Vranich considers California the worst state in the nation to locate a business and Los Angeles is considered the worst city to start a business. Leaving Los Angeles for another surrounding county can save businesses 20% of costs. Leaving the state for Texas can save up to 40% of costs. This probably explains why California lost 120,000 jobs last year and Texas gained 130,000 jobs.

So, part of the decrease is caused by people leaving…due to the causes  mentioned above.  Of course, even though this type of thing happens very consistently, do they learn?

Not so much.

California Governor Jerry Brown’s answer to the State’s failing economy and crumbling tax revenue is to place a $6 billion tax increase initiative on the ballot to support K-12 public schools. He promises to only “temporarily” raise personal income rates by 25% on any of the rich folk who haven’t already left.

Thereby chasing even more of them away.

Of course, for the moonbats that consistently induce failure, the downfall is always someone else’s fault.  Even though it’s predicted, and even when it comes to pass as predicted, there is always some other factor that caused the doom.  No matter what, it’s never their policies, and if you point out the truth, you’re a racist, or something like that.

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New York Cigarette Tax Fails to Bring in Projected Revenues: Anyone Surprised?

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One thing that statists miss is that taxes change human behavior.  When something is taxed to the extent that it becomes less affordable, people will either stop using the taxed item, use less of the taxed item, or obtain the item by other means.  For the latest, NY State is lamenting the fact that their cigarette tax revenue is far below expectations…

The Empire State is struggling to bring in additional tax revenue it projected it would gain from efforts to stop smokers from buying untaxed  cigarettes on Indian Reservations, reports the New York Post:

The state’s tax collectors were recently calling around to convenience-store owners, wondering what was up. The $130 million in extra tax that Albany was expecting from a change in the law about cigarette sales on Indian reservations wasn’t happening.

A memo sent to members of the New York Association of Convenience Stores from the group’s president, Jim Calvin — a copy of which I have on my desk — said, “I got a call from Gov. Cuomo’s budget office yesterday. In examining cigarette tax receipts so far this fiscal year (April 1 to March 31) it looks like they will fall considerably short of their projection in new revenues. . . .”

The state had hoped to get the extra dough by enforcing a new law that made it illegal for licensed cigarette wholesalers in the state to sell untaxed name-brand cigarettes like Newport and Marlboro to Indian reservations.

We’ve covered it many times before.

When something is taxed, people lose jobs…

Note that all of these articles are take from different times during the existence of this tax, which was later repealed, but the damage was already done.

According to a survey of the largest boat dealers in Connecticut, conducted by the Marine Retailers Association of America (MRAA), sales of boats costing $100,000 or more have fallen 93 percent, from $7.879 million in 1990 to $ 545,000 for the same period this year. Nationwide, more than 19,000 people have been put out of work at boat making plants.

Source

In fact, something similar happens when you tax people…

The source is found here.

Here’s a two-minute drill in soak-the-rich economics:

Maryland couldn’t balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O’Malley, a dedicated class warrior, declared that these richest 0.3% of filers were “willing and able to pay their fair share.” The Baltimore Sun predicted the rich would “grin and bear it.”

One year later, nobody’s grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller’s office concedes is a “substantial decline.” On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year — even at higher rates.

Way to go Maryland!  Yet another example of higher taxes yielding smaller returns!   How many jobs went out with them, I wonder?

So, you can tax products, or people, and there are always negative consequences.  But, that doesn’t go along with the class warfare narrative, so I guess we won’t be seeing anything like this in the MSM, will we?

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Steny Hoyer Meets Reality: Film at 11

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Steny Hoyer accidentally collided with reality yesterday.  Reports confirm that while neither were injured,  Hoyer was shocked and dismayed…

If you’re on the fence as far as an opinion on a Balanced Budget Amendment to the Constitution, Steny Hoyer seems to be unwittingly trying to push you in the “pro” direction:

(CNSNews.com) – House Minority Whip Steny Hoyer (D.-Md.) said on the House floor last night that if the balanced budget amendment Republicans are supporting is ratified and included in the Constitution it would make it “virtually impossible” to raise taxes.

“In order to pay our bills, Republicans would require us to pass a Constitutional amendment that would permanently enshrine their partisan budget priorities in law and make it virtually impossible to raise revenue,” Hoyer said.
[…]
Hoyer was evidently alluding to the amendment’s requirement that taxes could only be increased with a supermajority vote of Congress when he said the proposal would make it “virtually impossible to raise revenue.”

Well guys, the cat is out of the bag.  Hoyer has stumbled upon our evil plot…to prevent  government from committing the legalized theft of other people’s money.

“virtually impossible to raise revenue.”

EXACTLY!!!!

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Tax the Rich Until They Bleed

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And when there’s no more blood, what then? Obama and the liberals love their populist meme: Tax the rich because they are not paying their fair share. Obama and at least some liberals know that is not true but they continue to beat this drum. Why? Because it’s an easy sell. When people are hurting, they want someone to blame . And, of course, Obama thinks this class warfare cry of tax the rich will get him re-elected. People need to know the truth about taxing the rich. There are a lot of myths out there. Below is a video that should go viral that I found Reason.com. Please take the time to watch it.

Obviously, taxing the rich is not the solution. Are there problems with the tax code and all the “loopholes”. Yes, and the tax code does need to be addressed. But that would only make a small dent in our problem of debt and deficits.  The real problem isn’t the rich. The real problem big spending big government and the effect it has on the economy in general.

Many conservative are like to say: We don’t have a revenue problem, we have a spending problem. I get upset when I hear this. We do have a revenue problem. Not because any segment of our society is under taxed but because we as a country stopped being producers and became a country of importers. I’m talking about our balance of trade. It has been getting worse sence the sixties and it is accelerating. I’m not going to try to explain the trade deficit issue here. I’m not qualified. Suffice it to say that we import in dollar terms far more than we export. That difference must be finance with debt. We could talk for hours over the whys that got us to this point.  My point is that while we are debating how to reduce spending, we also need to focus on how we can grow our economy and in so doing increase tax revenues.

That I am aware of, there is only one presidential candidate talking about revitalizing our economy and that is Herman Cain. How? By reducing taxes that affect businesses and corporations.

The US currently has the highest corporate tax rate in the world at 35%. Herman Cain wants to cut that to 25%. That’s good but I’d prefer 20% or even 15%.  Doing this would help bring manufacturing back to America and help us compete in the world markets.

Herman Cain also wants to eliminate the US tax on repatriated foreign profits. Currently, US companies have nearly a trillion dollars in Un-patriated after tax (foreign) profits. These dollar do not come home because our government wants to tax them again. As a result, the US gets zero benefit from these trillion dollars. It doesn’t make any sense to me. How much of that money would come back and be invested here, I don’t know. But any amount would be better than what we get now.

Herman Cain proposes to eliminate capital gains tax. I have no doubt that doing so would be a big incentive fo investment in America. however, I personally believe the capital gains tax should be used to discourage speculation as wel as encourage investment. I would prefer very high capital gains taxes on investment held for one year or less. For investment held one to two years the tax would be less and for investments held for tree years or more the capital gains tax would be zero. Speculators or gamblers, in my opinion, do more harm than good for a free market economy because of the distortions of market signals that they cause.

Let’ recap the three points I’m trying to make today:

  1. Obama’s tax the rich plan will not do any good and could do much harm.
  2. We must have a reduction in spending plan that will lead to debt reduction not just deficit reduction.
  3. Accelerating trade deficits are going to sink us. We need a plan to grow our economy. A growing economy will increase tax revenues. And right now Herman Cain is the only one talking about this.

Any way. That is what I’m thinking about today. What do you think?

Original Post: Conservatives on Fire

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