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Thursday, November 24, 2011

The 10/20/30 Tax Plan

       CARP(Constitutional American Reform Pary)which is my own personal party, has a tax proposal that I feel is sound.  It will have to be evaluated and possibly be adjusted, but I think it addresses most ot the problems. The Program is the 10/20/30 Plan.  First thing is that anybody living below the poverty level in America will not owe any taxes under this system.  They will be taxed at the lowest rate but will recieve all their money back at the end of the year.  Most of the people in the lower brackets already pay nothing.  Those earning from the poverty level to the $100,000 dollar level will pay 10% of their income in taxes.   Those making $100,000 net income and up to the $10,000,000 level will pay 20% of their net income.  Those making more than $10,000,000 will pay 30% of their net income, including that from capital gains.   The tax rate for businesses will be a flat 20% of net income.  All loopholes and subsidies that do not directly benefit each and every American equally will be eliminated.  This should generate enough comments for me to address.

     Creating an honest budget would or will be a necessary part of the process.  The budget should be limited to 90% of annual income.  The remaining 10% should be used for emergencies, debt reduction, infrastructure or whatever it is necessary to do that does not fall within the budget.  A plan to bring America into compliance with this plan within ten years should be put in place.  Any expenses that exceed those guidelines should be cut out immediately.  Each dollar spent should be evaluated as to whether it benefits each and every American equally.  If it does not, it is pork.  That means eliminating all corporate subsidies immediately.  Also eliminating all loopholes and exemptions for businesses and corporations.

       The only problem with the plan is that it is based on the idea that the more blessed you are the more you should  pay.  The reason being you can afford more.  Not to preach but the Bible says we should labor to give.  It also says if a man will not work he should not eat.  A few verses to reference are: Ephesians 4:28, Micah 6-8 and James 2:15-16.  The Bible has a lot to say about giving.  If one does not believe the Bible that is okay, because everyday life shows that sharing and helping others pays off.  Henry Ford paid his employees a wage high enough that they could afford to buy the cars they made.  Which was higher than the average wage for the time. Many business men have benefited and built empires.  They did so by being willing to give others the opportunity to work. Two of the richest men in American history and one in the present day spent much of their time giving away the fortunes they made.  Andrew Carnegie and John D. Rockerfeller made their fortunes before an income tax existed.  Bill Gates made his fortune inspite of the income tax and he is actively sharing his wealth in projects to benefit mankind.  These few are contrary to the normal Wall Street attitude of get all you can.  You can not take it with you, so why not share it and make the world a better place to live.  The starvation going on in the world does not need to be happening.  There is enough food for every person on the planet.  The problem is with the distribution and greed that keeps it from being shared.  A problem America could conquer if it could get over its greed and me first attitude.

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