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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

LOWERING TAXES FOR THE WEALTHY AND CORPORATIONS?

By
Neal Boortz
@ March 12, 2009 8:19 AM Permalink | Comments (26) | TrackBacks (0)

Hey, Rhode Island .. ever heard of the FairTax? I ask because Rhode Island Governor Donald Carcieri is looking for a change to the Rhode Island tax code. He put together a panel of 20 experts who took six months to study the tax code and make recommendations on how to better serve Rhode Island. And guess what solution they came up with ......... tax cuts! And not just any tax cuts. Tax cuts for the filthy rich and evil corporations.

Wait a minute? Tax cuts for the producers? Tell me this is some kind of a nightmare.

Carcieri officially proposed a series of tax cuts in his latest budget, including the elimination of corporate income taxes by 2014 and the reduction of the top personal income tax rate from 9.9% to 5.5%.

The idea here is simple: in a down economy, make Rhode Island more competitive in order to attract and retain businesses that create jobs. And with those businesses come wealthy residents who turn around and invest in the state.

Naturally, this plan has some wealth-envy knickers in a knot. People are concerned that the tax burden is going to be shifted from the evil rich to the middle class.

Shift the tax burden? Here's what these ignoranuses don't understand. When you reduce the level of the punishment administered to the high-producers for their production what do you get? More production? They increase their efforts when the level of punishment (taxes) is reduced. More production, a stronger economy. A stronger economy, increased tax revenues. Reward the productive instead of punishing them and you will see a dynamic and growing economy. Tax cuts don't mean reductions in the tax revenue. Only the government-educated fail to understand this.

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What others are saying

  • Note Stimulating
    Right now, I'm not stimulating the economony at all. I still have no idea if I'll have to pay more income tax or get a refund. It's too complicated to predict. Hence, I sit and hold available funds in case a big tax bill hits my wallet. Govt loves complicated and uncertain. Gives them more flexibility to dole out favors to the politically connected and have sufficient cover when the proverbial you-know-what hits the fan.
    By BiF @ 03/13/09 08:42:04 AMreport abuse
  • The Fair Tax could have saved Dems Nominees
    Just think, if the Fair Tax were law, the some of Obama's income tax-dodging cabinet nominees might have sailed through the screening process.
    By BiF @ 03/13/09 08:36:06 AMreport abuse
  • R U nutz Copy!?!?!?!
    So Reagan pulling us out of the nightmare that Carter put us in by lowering the tax rate didn't help us? Are you kidding me? No one could be this ignorant? Let me school yah Copy: If you lower the tax rate, companies that moved away from America will move back because it's economically viable to do business in a country that's a tax haven, just common sense. Once companies move back to the US they'll need these crazy things called workers!!! Hey!!! and that raises the employment rate in the US which raises the economic success of it's citizens!!! The individuals that do not succeed in this scenario are the welfare recipients, also known as the democrats constituents. I tried to make this as easy as I could but let me know if you have any questions Copy?!?!?! :)
    By Rational @ 03/13/09 08:26:44 AMreport abuse
  • Copyleft's 'source'
    Looks like the CBPP has a history of playing tricks with the numbers...

    http://www.taxfoundation.org/files/ff53.pdf
    By Reason @ 03/13/09 01:08:05 AMreport abuse
  • Tax cuts?!?!?!?
    So Reagan pulling us out of the nightmare that Carter put us in by lowering the tax rate didn't help us? Are you kidding me? No one could be this ignorant? Let me school yah Copy: If you lower the tax rate, companies that moved away from America will move back because it's economically viable to do business in a country that's a tax haven, just common sense. Once companies move back to the US they'll need these crazy things called workers!!! Hey!!! and that raises the employment rate in the US which raises the economic success of it's citizens!!! The individuals that do not succeed in this scenario are the welfare recipients, also known as the democrats constituents. I tried to make this as easy as I could but let me know if you have any questions Sloppycleft :)
    By Reagan?!?!?! @ 03/12/09 09:41:55 PMreport abuse
  • Copyleft is R*tarded
    How pathetic. You sight an opinion piece as your source of evidence? Man, that Down Syndrome of yours is really causing you some problems.e
    By LiberalHater @ 03/12/09 07:47:01 PMreport abuse
  • Tax regulation by states
    Okay, this got me to thinking. If Rhode Island can be "open-thinking" enough to see the potential in lowering taxes on the acheivers, maybe we should try a grand experiment, (state to state) to settle the debate once and for all. If I'm not mistaken, we once had a war between the states based on individual "states rights". Since the states can dictate thier own particular tax regulations, let's have a Rhode Island vs. Massachusets cage match. Or, we could use Red State vs. Blue State ala Oklahoma vs. Oregon. Both have about the same land mass and population. Oregon follows the course of current democratic financial policies and Oklahoma follows the course of republican (Reganomics) policies. After one year, we look at the number of new Private Sector jobs in each state. Then, we look at all the economic indicators such as per-capita income, unemployment and percentage of those earning over $50K annually. (The beginning of the actual tax paying group of wage earners). Also, the number of businesses to move into or out-of each state. The number of people living on minimum wage or less. Which state, after only one year of this "experiment" would have an increase in overall population? Which one would have less?
    We have 50 states to work with here folks. Surely we could use 2 of them to put the dem and rep policies to the test. Let's do it.!!!!!! (I'm from Ga., a Red state...I hereby offer this state and would like to start the test immediatly!!! Thanks
    By Kerry @ 03/12/09 03:10:27 PMreport abuse
  • "Only the government-educated fail to understand this."
    Really? I thought the tax the higher achiever mantra is taught by the professors at Harvard, Yale, Dartmouth, Penn, etc. (all not "Government" schools) who send their children to private schools to be educated and to learn that the rich are bad. (Kind of a self loathing; really it's child abuse.)

    Mr. Neal, most economic dullards are taught with a private education.

    The folks who really know profit, loss and the effect of effort on the P & L are street hustlers who are, undoubtedly, a product of Public education.
    By Steve @ 03/12/09 01:24:01 PMreport abuse
  • To: Jubilation
    Already done; read my second post on this topic.
    By Copyleft @ 03/12/09 12:23:20 PMreport abuse
  • RI Idiocy
    Governor Carcieri and the 16 other conservatives(including me)in this pathetic state are the only ones that get this! The rest of the population are too stupid to see this and they & the unions that run this state will NEVER let common sense prevail. This state will be the next one filing bankruptcy. I can't get out of here fast enough. Oh and by the way - I work for a living.
    By Hope to be a former RIer soon @ 03/12/09 12:19:53 PMreport abuse
  • No they haven't heard of the fair tax.
    I used to live in RI, I'd ask people if they'd heard of the fair tax, you've never seen more blank stares. These people just don't know. Then when I'd tell them about it, they'd say that'll never happen.
    By Jim @ 03/12/09 11:58:43 AMreport abuse
  • RI tax reform
    Thanks for the tip, Neil. I'm moving.
    By Chris @ 03/12/09 11:57:36 AMreport abuse
  • Cite your references
    Copyleft asserts: "Tax cuts do NOT drive economic growth; only the fanatical zealot fails to recognize this when reviewing the historical facts. They have a minor effect at best. This has been proven, over and over again..."

    I can't find any statistical basis for that assertion. Please cite your sources?
    By Jubilation T Cornpone @ 03/12/09 11:38:32 AMreport abuse
  • copyleft provides lame comic relief...
    ...like a dog chasing his own tail. In 4 years he'll be telling us our anemic growth(if growth, at all), $8/gal gas, double-digit intrest rates, double-digit-inflation, and double-digit unemployment is the best economy we've ever had, if the dp's and hussein's policies go through.

    In '82 President Reagan was turning a bad recession into recovery, and by '84, an economic boom. Today hussein and the dp congress is turning a recession into a depression. All the hoping and wishing otherwise(even with copy's obviously potent hallucinogens) won't change that.
    By CowboyUp @ 03/12/09 11:04:50 AMreport abuse
  • Tax Deadline
    Tax deadline - Your income taxes normally are due on April 15th unless that date falls on a Saturday or Sunday, in which case, they're due Monday the 16th or 17th.

    However, I have learned that, due to a recent change, and for the next 4 years, they will not be due until you are nominated to a cabinet position by Mr. Obama.

    Please check with your Tax adviser to confirm.
    By Woodsey Owl @ 03/12/09 10:59:48 AMreport abuse
  • taxes
    Since the Great Depression(in the 30's, not this one in case NBC is reading), tax receipts by the Fed equals 19.5% of GDP. Raise taxes, lower taxes, it doesn't matter. So, for Copy Left, do you think raising taxes increases or lowers the GDP? Every time it has been tried, the economy has shrunk, resulting in less income to the Fed. Whenever the tax rates are reduced, the GDP grows.
    By Chris @ 03/12/09 10:55:25 AMreport abuse
  • The Tax Poem
    The Tax Poem

    Tax his land,
    Tax his bed,
    Tax the table
    At which he's fed.

    Tax his tractor,
    Tax his mule,
    Teach him taxes
    Are the rule.

    Tax his work,
    Tax his pay,
    He works for peanuts
    Anyway!

    Tax his cow,
    Tax his goat,
    Tax his pants,
    Tax his coat.

    Tax his ties,
    Tax his shirt,
    Tax his work,
    Tax his dirt.

    Tax his tobacco,
    Tax his drink,
    Tax him if he
    Tries to think.

    Tax his cigars,
    Tax his beers,
    If he cries
    Tax his tears.

    Tax his car,
    Tax his gas,
    Find other ways
    To tax his ass.
    Tax all he has
    Then let him know
    That you won't be done
    Till he has no dough.

    When he screams and hollers,
    Then tax him some more,
    Tax him till
    He's good and sore.

    Then tax his coffin,
    Tax his grave,
    Tax the sod in
    Which he's laid.

    Put these words
    Upon his tomb,
    'Taxes drove me to my doom...'

    When he's gone,
    Do not relax,
    Its time to apply
    The inheritance tax.

    Accounts Receivable Tax
    Building Permit Tax
    CDL license Tax
    Cigarette Tax
    Corporate Income Tax
    Dog License Tax
    Excise Taxes
    Federal Income Tax
    Federal Unemployment Tax (FUTA)
    Fishing License Tax
    Food License Tax
    Fuel Permit Tax
    Gasoline Ta x (44.75 cents per gallon)
    Gross Receipts Tax
    Hunting License Tax
    Inheritance Tax
    Inventory Tax
    IRS Interest Charges IRS Penalties (tax on top of tax)
    Liquor Tax
    Luxury Taxes
    Marriage License Tax
    Medicare Tax
    Personal Property Tax
    Property Tax
    Real Estate Tax
    Service Charge Tax
    Social Security Tax
    Road Usage Tax
    Sales Tax
    Recreational Vehicle Tax
    School Tax < BR State Income Tax
    State Unemployment Tax (SUTA)
    Telephone Federal Excise Tax
    Telephone Federal Universal Ser! vice Fee Tax
    Telephone Federal, State and Local Surcharge Taxes
    Telephone Minimum Usage Surcharge Tax
    Telephone Recurring and Non-recurring Charges Tax
    Telephone State and Local Tax
    Telephone Usage Charge Tax
    Utility Taxes
    Vehicle License Registration Tax
    Vehicle Sales Tax
    Watercraft Registration Tax
    Well Permit Tax
    Workers Compensation Tax
    By Troy @ 03/12/09 10:52:14 AMreport abuse
  • RI FairTax
    It will never happen. As a native Rhode Islander who moved to GA to escape the union grip that is holding that state, believe me when I tell you, this is the bluest of blue states. It's a great idea, and it will bring much business to that state, which by the way, was second to reach the 10% unemployment level (behind michigan). They won't see it, there is such a union stronghold there, and so many gov't sponsored programs. .
    By Toopster @ 03/12/09 10:45:54 AMreport abuse
  • question
    Mr. Boortz is your spelling if ignoramus as ignoranus intentional? Very cool.

    Charles
    By Charles @ 03/12/09 10:34:59 AMreport abuse
  • Taxing the "rich"
    Had an idea last night, put a face on the evil rich. The Dems want you to think they are taxing those with big houses and money to burn making ungodly money doing who knows what. Nope they are taxing the hard working married people of the USA like the Huxtables, yes Cosby’s family. One was a Baby doc and the other a Lawyer both living in New York. In NY here is what to expect.
    Specialists make more: An OB/GYN starts at around $135,000
    The current standard for a first-year associate at the city’s 25 largest law firms is $125,000, but after the year-end bonus kicks in, total compensation can approach $160,000.
    Hmm that is over the 25000 mark is it not?
    which means they are being taxed more once them Dems get in charge.
    So next time you want to stick it to the evil rich think of the Cosby show!
    Had to share and this comment place seemed a good place to do it. I will be posting this anywhere I think it might do some good.
    By Todd @ 03/12/09 10:19:36 AMreport abuse
  • To: Short Memory
    No, this is a simple statement of fact. Tax cuts are not a magical cure-all for every possible economic ill... and they have NOT driven economic growth.

    Read for yourself:
    http://www.cbpp.org/7-18-08tax.htm
    By Copyleft @ 03/12/09 10:06:32 AMreport abuse
  • simple example
    Suppose you own a small corner store, and you have loaves of bread to sell. Your price is .50 cents, but since you need to sell them you lowered the price to .30 cents. Do you think you will sell more bread at the lower price? What if you lowered it to .25 cents? .10 cents? The more bread you sell, the more money goes into the cash register, right? So the US Gov is the store, the bread is your income, and the price is the taxes. Your profit is the tax revenue generated. Lower the price of bread (tax rate), sell more loaves (increase in taxable saleries), and make more money in the cash register, (Tax revenues). C'mon folks, it's not rocket science....
    Now how many loaves would you sell if you raised the price to $1.00, do you think you will sell more loaves of bread? What will happen to you profits (tax revenues)?
    Simple.....
    By Jay P. @ 03/12/09 09:45:14 AMreport abuse
  • FairTax Rally - April 15, Township Center Columbia, SC
    Mike Huckabee and Ken Hoagland will be guest speakers... I would love to see Neil Boortz attending this event!

    5:30pm in Columbia SC... the same place that generated over 10,000 FairTax supporters last year during the GOP Debate in that town.

    "Neil, Are you Listening?" (paraphrasing Rick Santilli, CNBC)
    By Adakin Valorem @ 03/12/09 09:38:38 AMreport abuse
  • Doesn't understand CopyLeft
    Can you prove tax cuts don't improve the economy or is that part of the religion of big government?

    Let's see some figures. Because the last few tax cuts in recent memory have not led to long-term reductions in tax revenues and economic downturns...

    Just wondering. Or is this a troll?
    By Short Memory @ 03/12/09 09:34:14 AMreport abuse
  • Riiightt....
    Tax the consumers enough, and they won't be able to buy your blessed products. That's supply-side stupidity in its purest form.

    (Not to mention the old "taxes are punishment" canard. Geez, what year is this, 1982?)

    Tax cuts do NOT drive economic growth; only the fanatical zealot fails to recognize this when reviewing the historical facts. They have a minor effect at best. This has been proven, over and over again... but it's become an article of faith among the Tax Cuts Cure Cancer crowd.

    Big news: Believing in something, even extra-hard, doesn't make it true. And tax cuts simply DON'T dominate economic growth.
    By Copyleft @ 03/12/09 08:55:58 AMreport abuse
  • Moving to RI
    Amazing!
    What do you think Massachusets will do when a few smart CEOs move headquarters from MA to RI (and save millions for their stockholders)? My guess is MA raises its taxes to make up for the shortfall. And more businesses leave, and taxes go up, and the state leaders STILL don't get it.
    By Scrao Iron @ 03/12/09 08:29:50 AMreport abuse
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