4-6-2011 Federal Budget Reform
You hear the liberals say raise the tax on the rich and corporations. Maybe you should check out the sixty minutes program that was aired Sunday, March 27- 2011.
The corporate tax rate is 35%, the second highest in the world, and possibly the highest, if Japan follows through with it’s plan to lower their tax rate.
Corporations are moving their operations to other countries, to avoid the high tax rate.
Would it not be better to have a 20% tax rate instead of a 35% rate. Seems to me, it would be better for all concerned. In the school, that I attended, 100% of 20% is better than 0% of 35%. It is a miracle that any companies still operate in this country, with the high taxes, government regulations and union demands. Cutting the capital gains tax would also be an incentive for investment, and job creation.
All of the howling that we are hearing, over the Republican budget plan, you would think that folks will be dying like flies in a DDT fog. All agree that the continuation of current spending, will certainly destroy this country. President Obama said “ we have to pay interest on our debt and that means we are mortgaging our children’s future with more and more debt”.
Do you wonder why the Democrats failed to pass a budget, for the present fiscal year?
Let me see if I can explain the obvious reason. If they had passed a budget, the voters would have been so outraged, that the midterm election would have been a greater shellacking than it was. Now that the Republican house has a budget plan, all they can do is bellyache, and lie about a plan that has the potential of getting this country back to a stable foundation. Harry Reed is upset because funding for the arts will be cut, he won’t get to hear cowboy poetry. I recommend that if he likes cowboy poetry that he pay for it. I hated memorizing poetry when I was in school, and still don’t have any great love for poetry of any kind.
We hear threats of the government being shut down. Let me ask you a question, “is it better to shut down the government for a few days, or keep up the reckless spending, and have it default?”
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