Republican members of Congress are racing to pass the tax reform bill so that they can get home in time for Christmas, and it looks like it is actually going to happen. The key is the Senate, and at this point it looks like there will be enough votes, but we have seen surprises before. As I have stated previously, I would have voted for this bill, but nobody should pretend that this fixes our tax system. The tax code is still going to be more than two million words long, the regulations are still going to be more than seven million words long, and Americans are still going to spend billions of hours and tens of billions of dollars complying with the most complicated tax system on the entire planet. (Read More...)
Tax Plan
The Obama Tax Plan: Is Barack Obama Plotting To Use Class Warfare As A Tool To Win The 2012 Election?
Barack Obama has revealed his tax plan and it is a doozy. It would raise taxes by 1.5 trillion dollars over the next decade. Most of these tax increases would hit the wealthy, and Obama keeps insisting that it is time for them “to pay their fair share”. Of course Obama knows that the Republicans will never go for this. You see, what is going on is that Obama is laying a trap. First, he laid out a 447 billion dollar “jobs plan” that contained all kinds of goodies for the poor and the middle class. Now he has introduced a massive tax plan which specifically targets millionaires in order to pay for it. The Republicans are falling right into the trap, because instead of introducing fundamental reforms to our tax system, the Republicans have chosen to defend the status quo. Right now our current tax system allows big corporations and the ultra-wealthy to get away with bloody murder, and the Republicans have put themselves into the position of having to defend that. This is exactly what Barack Obama wants. Obama is plotting to use class warfare as a tool to divide Americans and win the 2012 election. There is no way in the world that his current plan is going to get through Congress. What he is doing now is “setting the table” for the 2012 campaign season. (Read More...)