Joyanna Adams

Nobody's Opinion

What? Tax Reform? Are We Taking Bets?

Nobody Knows

Everybody is wondering: Will Congress actually pass tax reform? All Americans want it, and Congress doesn’t seem to even have to pay taxes, so they can go around pontificating about the deficit and blah blah blah…but none of this affects them. Whenever they evade paying taxes, not a thing happens to them.
If they were paying the same taxes as us, they wouldn’t become millionaires.

Only two republicans can afford to wreak the whole mess, especially if there are no democrats to break from Chuckie and Nancy, and right now, eight are saying they don’t like it…so it doesn’t look good.
There ARE no sensible democrats left in either house, so, is this going to come down to one vote again?

I don’t know about you, but I’ve heard so many views on the different plans, from so many different sources, at this point, why should we expect any kind of functioning at all to come out of our government?

Mark Levine is especially mad. He’s in that higher bracket and he just started a big new venture with his television/cable, so, I can see why he’s mad. He’s not made it to that top 1 percent yet.

Rush Limbaugh says the plan really doesn’t do as much as they say it does. I have to agree with him that usually, when they give you a break in taxes on one thing…they stick it to you on another.

It never fails.

But President Trump says it will help the middle class. What we don’t know is: where exactly does the “middle” class start? $50 thousand? $65 thousand? $75 thousand? $200 thousand? I’ve heard all these figures given by different pundits. And since half the people don’t PAY any taxes, how can they afford to keep all their big welfare and refugees in cash and comfort?

They can’t. And Paul Ryan wants MORE refugees, more workers…Paul works for the corporations. Paul has already figured out how to screw the American people, but we won’t know until we wake up and look at the price of living…later.

The companies want cheap labor, and the democrats want votes.

If the only thing that comes out of this, is a lower tax rate for the big companies so that they will move back to the United States and start hiring more people here…than that would certainly be a good first step.  But, only if they stop the massive immigration. Companies will just keep paying the low wages and you might get a job, but you still won’t be in the “middle” class. They’ll just bring in more foreign workers, and wages will stay low. It’s a win/win for the Fortune 500.

At least, that’s Ryan’s plan I think.

So, what do I think will happen?

I can think of a few outcomes:

  1. They will pass tax reform, but they will not get rid of the Obamacare mandate. Everybody will start dying off.

(Big companies win.)

  1. They will pass tax reform, but most Americans making under $75 thousand will only see a small amount of increase….and their refund at the end of the year, will be much smaller.

(Government wins.)

  1. They won’t pass tax reform, more than one will reject it, and because of the fury of the American people, somehow, we will go to war. Probably with North Korea.

To take our minds off what just happened.

(Nobody Wins)

Nobody Knows who will be blamed if tax reform doesn’t pass…but this Nobody is pretty sure…the American people will NOT blame President Trump.

And Nobody Wonders, if it even matters to the GOP if they go down in history as the Congress that just couldn’t get it up…for the American people.

I’m optimistic about the President…but I have no faith or trust whatsoever about Congress.

How about you?

November 28, 2017 Posted by | Congress, corruption | , , | 1 Comment

Nobody’s Fool: Tom Beebe

Nobody’s Fool: Tom Beebe

When I first started blogging…in 2000, I started this idea about having a website where ordinary citizens could post their ideas. Being ignorant about the cost of starting a “website” and how much money it costs, I ended up just blogging under the NOBODY logo’s. I wanted to have different sections: One where all nobodies everywhere could post their ideas about our country, our society, and their own experiences.

It seemed to me then, and still does, that the ordinary person, doesn’t get his ideas out in to the public domain. The internet has changed that somewhat, but the mainstream media is controlled by the government and their sponsors. Imagine if regular working (or unemployed) Americans from all over the country had their own television show, where they could give their ideas a go, which was NOT controlled by any station?

We won’t see that in my lifetime. Everything is controlled.

Someday, perhaps, I could start a website like this up, so until then, I will present some of your ideas whenever you like…like now.

Tom Beebe is one of those “nobodies” who has a lot of ideas on how to fix our TAX system.

 Here it is: Give it a read, it’s pretty good. And…Tom requests feedback on his idea…I personally know a few of you out there have financial minds: Amfortas, Pattie? Give Tom’s idea a read and please comment!

 Tom Beebe’s Tax reform:

The federal government shall collect no taxes other than provided in this act and make no payment except in return for goods or services rendered to it, or as provided for in this act. There shall be no federal tax any business.

 All persons shall come together in households to report all income and to receive federal benefits. They need not be related, need not reside together, and a household may consist of as few as one person.

 Each year congress shall set a “minimum wage” and a “tax rate”, which in turn will be applied to the previous year’s reported incomes to determine the budget of the government.

 The following income shall be exempt from taxation:

 An amount equal to a year’s earnings at the minimum wage rate, for adults (age 20-65), decreasing 10% per year to 50% at age 15, and increasing 10% per year to 150% at age 70.

Payments for necessary health care including pharmaceuticals prescribed by a recognized health care professional, and vision and hearing aids. Health care insurance premiums may be deducted but not health care expense paid for by such insurance.

Educational expense including day care, that portion of state and local taxes identified as spent on education, that portion of parochial school expenses identified as going for non-sectarian education, and private school education at any level.

 Income saved into an account from which investments may be made. All withdrawals from this account for the benefit of any member of the household are taxable.Withdrawals that are not for a members’ benefit are exempt from taxation.

The “tax rate” shall be applied to any income over and above the deductions listed above, regardless of amount. When deductions exceed income, the government shall make payment to the household equal to the tax rate times the deficiency.

 

September 13, 2012 Posted by | taxes, Uncategorized | , | 1 Comment

Tom Beebe’s Tax Reforms

Nobody Gets Email

As many of may or may not know, this dribble the Congress is doing about Bush’s tax cuts staying in our paychecks is going to make us all very happy campers, what they are NOT mentioning is the malicious taxes that are going to go sky-high as soon as Obama is out of office, in 2013. It wasn’t just Obama that did Obamacare, and there should be some kind of law saying that a sitting President and Congress cannot pass laws and taxes, which only kick in AFTER the next election.

HA!

What do you expect? Decency? Honesty? Representatives of the people? We have a liar of great magnitude for a President, and a Congress that is just as bad. Perry’s right…they should all stay home.

This was sent to me by a NOBODY who has given a decent proposal, for serious tax reform. It shares a few shades of commonality with Herman Cain I believe, but it’s his own idea. I’m sure he would appreciate any comments that you would like to give on his ideas.

(Thanks to Tom Beebe for sending this in.)

Part One

 

A PLAN TO REFORM TAXES AND ENTITLEMENTS

What is, to YOU, a fair tax plan? How can “entitlements”, including welfare, Medicare, Medicaid, and Social Security, be improved? Consider these ideas and please tell me your thoughts on them.  You can make this plan even better, and you can send it on to your Senators and congressmen to influence their votes.Americaneeds something better, something more honest, and above all something we can all understand.  Please send your thoughts to me too.

Tom Beebe                                                     -or-                  tbeebe6535@yahoo.com

This is a proposal to replace all federal taxes and transfer payments, also known as “entitlements” with a single act. Please understand that “all federal taxes” includes many that we pay each day, such as the tax on each gallon of gasoline, or the corporate taxes which are paid each time you purchase a product or service from a corporation; where else but from you, their customer, do corporations get money to pay taxes? Furthermore, these taxes are multiplied many times on their way from the source of the product to you. Taxes are paid by the retailer with whom you trade. He, in turn, pays his supplier taxes as part of the price of his purchases, and on down the road. You have a right to know, and will be astonished to know, how much you are paying in taxes. This plan is an attempt to reveal that amount by consolidating all taxes into one payment. Remember that by eliminating the hidden taxes, the cost of your purchases will come down drastically.  This is one of two ways this plan is aggressively “progressive”, a term describing taxes which are easier on the lower income households who spend a greater part of their income. The second element of this “progressivity” is the large personal exemptions.

The annual personal exemption is set as 2000 times the minimum hourly wage (2000 = 50 weeks times 40 hours per week). We have adopted a minimum wage as the least a worker should receive for his efforts.  How, then, can we justify taking some of that sum from him in taxes? This exemption is allowed for every adult (20-65) in your household, and is reduced in steps for those younger, and increased in steps for those older, recognizing the differences in the cost of living to these on the opposite ends of the age span. This formula may be too much or too little as the economy changes, so the plan requires Congress to reset the wage each year, In that “resetting”, Congress will be determining the federal budget, which will be forever balanced. Actually, because Congress has overspent for decades, the plan uses the past year’s taxable income times the new flat tax rate, also set each year. Result? As long as the economy grows (as it does almost every year), a modest surplus will develop to pay off the debt over a period of many years. When the economy grows rapidly, the amount taken out to repay the debt is larger; in a recession, that amount is smaller, as is the budget for government spending.

Now beyond “transparency” the idea that you ought to know what taxes you’re paying, and “progressivity”, the idea that taxes ought to be paid (more) by those more able to pay them, what other modification to the idea of everyone paying the same, the “fair share” of taxes should be part of the plan? It’s reasonable that government policy should be designed to maximize growth, again for two reasons.  First, “growth”, an increase in the wealth from which we all share, is in the interest of all. Second, growth means an increasing tax base. That in turn means more money to pay for legitimate government expenditures, like roads, law enforcement and other services without an increase in the tax rate. If this growth in the tax base exceeds the growth in the cost of government services, we’re getting more for the same portion of your income. We all want that.

What contributes to that growth? “Crony capitalism” and corruption   resulted in a lot of special deals that contribute to the growth represented by and for special interests. A plan good for no special interest is good for us all. This plan suggests three things are of universal value in assisting growth. Those three are education, health care and investment. So this plan exempts those three expenses from taxable income. It does so broadly, so that government is not telling you what educational choices you make, what health care (and health care insurance) you buy, and what investments you make, (and charity is an investment). You can make those choices better than can Washington.

Many states and cities have been getting into financial trouble. It is not the Federal government’s duty to bail them out, or even correct the practices that got them in trouble. But if this plan makes sense, if it could correct the revenue problems that the other levels of government have encountered, then the federal government can help them out by making the plan available, optionally, to them. But the feds should not impose anything on those other levels of government.

Finally, after all the exemptions are taken, some will have more exemptions than deductions. Should they be helped, and to what extent? Consider calculating aid by multiplying their shortfall by the flat tax rate. As with taxes, their assistance will be reviewed by and adjusted as part of the budget process each year. That way, everybody pays the same rate from top, the “billionaires” to bottom, the least among us. For those whose income exceeds exemptions, they pay taxes equal to the rate times the excess.  For the least among us, their income supplement, replacing Welfare, Medicaid, Medicare, Social Security and other “entitlements”, is reduced at the same rate. Is this fair to all?

Finally, if you have read plans that embrace sales or value-added taxes in lieu of or in addition to income taxes such as this, consider that an unlimited exemption for savings makes this plan exactly like s sales tax; if what you save is exempt, then you’re only paying taxes on what you spend.

December 18, 2011 Posted by | economy, taxes, Uncategorized | , | 3 Comments

   

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