Financial storm in the U.S. hits the streets of USA with only Wall Street getting help
September 25th 2008 23:12
Bizarre Politics Reports: U.S. Financial Crisis exposes more than just poor investment decisions
The current Economic storm in the U.S. is not new and it is not just a result of poor investment management. It is more about an economy based on making money on money instead of making things. An economy based on making money on money burns itself out because the basic equity of making things has been exported around the world.
Now the eye of the storm has hit Wall Street and Big Money. The Government wants to now bail out Big Money but says nothing about the millions that were sacrificed on the altar of greed. If Big Money is bailed out, a whole new system of taxes has to be introduced whereby Small Money can find a way to share in the now isolated revenues of Big Money
The Free Enterpise system in a radical competitive global economy can no longer can support benefits like health care and other similar services. Something must fill the voids for these services that once were supported directly by the Free Enterprise system. It is actually the wrong way to go but the free market has gone haywire and no longer can support the entitlements that have been in place for many years. U.S. workers will never be able to compete with the impoverished and even wage slave workers and keep their entitlements in tact. Even if everyone in the world received a good education and high tech skills, it is meaningless, if everyone has to compete for the same jobs as they are doing now on a global basis. It would take centuries for all things to balance out - if ever.
Governor Arnold Schwarzenegger brought up some interesting concepts about taxing services by Hospitals and Doctors to afford universal health care. In the Free Trade world, health care has become an expensive overhead. If companies have to compete with foreign companies that do not have this overhead, they will eventually go out of business. There is a way to subsitute transaction fees and do away with the tax codes across the board and hopefully afford things like universal health care. Since companies can no longer afford to pay the toll for health care, the government must step in and do it. In essence tariffs have been taken off products and have been put on workers, labor and the work day in many hidden ways. There is a need to fill this void too.
Free Trade and Globalization has chopped up our economy into pieces destroying the balances of local value added economies that were the pillars supporting the entitlements. We need to revise the way taxes are collected since so many value added levels of our economy are outside the USA. The Trade Deficit now totals in the Trillions of dollars. Reportedly, every family in the U.S.A could be given a $50,000 home with the money lost by the Trade Deficit.
Income Tax cuts do not work anymore since the extra money spent at the retail level quickly fans out to where the products are made in places like China etc. The money does not stay here to regenerate our economy up and down the line. Worst yet, the Payroll Tax is used like any other taxes in the General Fund. It now acts as a flat tax on the working poor. 70% of all workers pay more in Payroll Taxes than they do in Income Taxes. At the same time, Income tax breaks are isolated to only a few while the working poor and small businesses have to pay up to 15% taxes. A person making only $10,000 a year, pays the payroll taxes no matter what and up to 20% total in many cases when local and state taxes are included.
We need to find a way to shore up a dwindling tax base. We have actually had deflation when it comes to wages. At the same time, Federal, State and local Governments are now the largest employers in many major cities. Next comes Medical and Education workers who depend on taxes to survive. These sectors are growing while the private sector jobs are evaporating with millions of jobs being moved outside the USA.
We need to find ways to back up all of this. The worst thing about taxes in general is the percentages of any tax rate. Businesses and people manipulate their actions to escape high tax rates. These manipulation put a further burden on the Free Enterprise system. It is apparent that any tax over 3% prompts negative reactions in some way.
I suggest keeping a tax rate or what I call Taps at the maximum rate of 3% no matter what. They would act as a transaction fee on all transactions without any exemptions including doctors and hospitals etc. Taps would apply to retail sales and all sales automatically. All charities should pay the same fee too. At the 3% rate, we would tap all transactions without affecting any transaction radically.
The 3% would be on all sales or services. It would be automatic. There would be no need for the IRS this way. All taxes as we know them today would be stopped even the payroll tax. All imported products or services would be tapped at 3% to fill the voids of the lost added values by not making the products or having the services here. There would be no need for paper work or auditing because the Taps would be automatic. Corporations would then be able to compete on a real level playing field paying only this low rate of 3% on profits. The 3% flat rate Taps would add up to quite a bit of revenue this way. If anyone finds a way to avoid these transaction fees, the government could fine them double the rate automatically easily too. Instead of taking any legal action, the guilty parties would have to pay 6% on all the transactions they tried to hide from or fudge.
Free Trade and Globalization has made workers the real commodities and not products . Taps Transaction fees would change this. Taps tax the transaction and not the workers or workday. As Adam Smith said - Labor must be something sacred. It should never be taxed directly or indirectly.
For more information, go to http://www.bizarrepolitics.com/
For other related information and data, see Really Long Link and Really Long Link Search under Tapart News, Tapsearch Com or Ray Tapajna for many more resources of information
Now the eye of the storm has hit Wall Street and Big Money. The Government wants to now bail out Big Money but says nothing about the millions that were sacrificed on the altar of greed. If Big Money is bailed out, a whole new system of taxes has to be introduced whereby Small Money can find a way to share in the now isolated revenues of Big Money
The Free Enterpise system in a radical competitive global economy can no longer can support benefits like health care and other similar services. Something must fill the voids for these services that once were supported directly by the Free Enterprise system. It is actually the wrong way to go but the free market has gone haywire and no longer can support the entitlements that have been in place for many years. U.S. workers will never be able to compete with the impoverished and even wage slave workers and keep their entitlements in tact. Even if everyone in the world received a good education and high tech skills, it is meaningless, if everyone has to compete for the same jobs as they are doing now on a global basis. It would take centuries for all things to balance out - if ever.
Governor Arnold Schwarzenegger brought up some interesting concepts about taxing services by Hospitals and Doctors to afford universal health care. In the Free Trade world, health care has become an expensive overhead. If companies have to compete with foreign companies that do not have this overhead, they will eventually go out of business. There is a way to subsitute transaction fees and do away with the tax codes across the board and hopefully afford things like universal health care. Since companies can no longer afford to pay the toll for health care, the government must step in and do it. In essence tariffs have been taken off products and have been put on workers, labor and the work day in many hidden ways. There is a need to fill this void too.
Free Trade and Globalization has chopped up our economy into pieces destroying the balances of local value added economies that were the pillars supporting the entitlements. We need to revise the way taxes are collected since so many value added levels of our economy are outside the USA. The Trade Deficit now totals in the Trillions of dollars. Reportedly, every family in the U.S.A could be given a $50,000 home with the money lost by the Trade Deficit.
Income Tax cuts do not work anymore since the extra money spent at the retail level quickly fans out to where the products are made in places like China etc. The money does not stay here to regenerate our economy up and down the line. Worst yet, the Payroll Tax is used like any other taxes in the General Fund. It now acts as a flat tax on the working poor. 70% of all workers pay more in Payroll Taxes than they do in Income Taxes. At the same time, Income tax breaks are isolated to only a few while the working poor and small businesses have to pay up to 15% taxes. A person making only $10,000 a year, pays the payroll taxes no matter what and up to 20% total in many cases when local and state taxes are included.
We need to find a way to shore up a dwindling tax base. We have actually had deflation when it comes to wages. At the same time, Federal, State and local Governments are now the largest employers in many major cities. Next comes Medical and Education workers who depend on taxes to survive. These sectors are growing while the private sector jobs are evaporating with millions of jobs being moved outside the USA.
We need to find ways to back up all of this. The worst thing about taxes in general is the percentages of any tax rate. Businesses and people manipulate their actions to escape high tax rates. These manipulation put a further burden on the Free Enterprise system. It is apparent that any tax over 3% prompts negative reactions in some way.
I suggest keeping a tax rate or what I call Taps at the maximum rate of 3% no matter what. They would act as a transaction fee on all transactions without any exemptions including doctors and hospitals etc. Taps would apply to retail sales and all sales automatically. All charities should pay the same fee too. At the 3% rate, we would tap all transactions without affecting any transaction radically.
The 3% would be on all sales or services. It would be automatic. There would be no need for the IRS this way. All taxes as we know them today would be stopped even the payroll tax. All imported products or services would be tapped at 3% to fill the voids of the lost added values by not making the products or having the services here. There would be no need for paper work or auditing because the Taps would be automatic. Corporations would then be able to compete on a real level playing field paying only this low rate of 3% on profits. The 3% flat rate Taps would add up to quite a bit of revenue this way. If anyone finds a way to avoid these transaction fees, the government could fine them double the rate automatically easily too. Instead of taking any legal action, the guilty parties would have to pay 6% on all the transactions they tried to hide from or fudge.
Free Trade and Globalization has made workers the real commodities and not products . Taps Transaction fees would change this. Taps tax the transaction and not the workers or workday. As Adam Smith said - Labor must be something sacred. It should never be taxed directly or indirectly.
For more information, go to http://www.bizarrepolitics.com/
For other related information and data, see Really Long Link and Really Long Link Search under Tapart News, Tapsearch Com or Ray Tapajna for many more resources of information
