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Taxes Take Center Stage

April 18, 2012 by  

Taxes Take Center Stage
PHOTOS.COM
Americans had to work until April 17 to pay Uncle Sam. Coincidentally, that was this year's tax deadline.

Yesterday represented Tax Freedom Day in the United States, the day when the average American taxpayer has stopped working for the sole purpose of paying local, State and Federal taxes.

Republican Presidential contender Ron Paul took the opportunity to remind Americans of his dedication to undoing the U.S. tax system.

In a statement, Paul said:

My ultimate goal remains to repeal the 16th Amendment and end the tyranny of the IRS once and for all. Of the four men seeking the presidential nomination of one of the major parties — President Obama, Governor Romney, Speaker Gingrich, and myself — I am the only one who has consistently opposed increases in taxes and spending. I am also the only one who has consistently fought the Federal Reserve’s assault on the middle class’ standard of living. My campaign to Restore America Now is the clear choice for any American concerned about rolling back taxes, cutting spending, and curbing inflation.

Paul’s “Plan to Restore America” contains several tax provisions, it would:

  • Extend 2001 and 2003 tax cuts.
  • Eliminate the individual income tax and the Internal Revenue Service.
  • Lower the corporate tax rate to 15 percent.
  • Get rid of the estate tax.
  • End taxes on personal savings and tips.
  • Eliminate the dividends and capital gains taxes.

Newt Gingrich’s “Jobs and Growth Plan” would:

  • Extend all 2001-2011 tax cuts that would otherwise expire in 2013.
  • Offer an optional alternative tax system, which would create a 15 percent flat tax rate and allow taxpayers to claim a standard $12,000 exemption for each individual and dependent.
  • Repeal the Federal estate tax.
  • Lower the corporate tax rate to 12.5 percent.
  • Capital gains, dividends and interest income would not be taxable under the flat tax system.

Mitt Romney’s plan would:

  • Extend the 2001 and 2003 tax cuts.
  • Allow some provisions set by the 2009 stimulus act to expire, including the earned income tax credit.
  • Repeal the Federal estate tax.
  • Cut the corporate tax rate to 25 percent.
  • Extend for one year the full expensing of capital expenditures.
  • Make the current research and experimentation credit permanent.
  • Allow a “tax holiday” for the repatriation of corporate profits from abroad.

On Monday, the Senate blocked President Barack Obama’s “Buffett Rule” that would raise taxes on those with incomes higher than $1 million. The plan had been denounced by all of the GOP candidates and conservatives as a whole as a wealth-redistribution scheme.

As Romney has been declared the inevitable GOP nominee by the establishment, many pundits have focused more heavily on the candidate’s tax proposals and how they will be implemented.

Romney has identified specific loopholes and deductions for the wealthy that he plans to eliminate in order to finance his tax cut and ensure that the Nation’s top earners face the same tax burden they do today.

“I’m going to probably eliminate for high income people the second home mortgage deduction,” Romney said. “By virtue of doing that, we’ll get the same tax revenue, but we’ll have lower rates. The nice thing about lower rates is that small businesses get to keep a larger share of what they’re earning and plow it back in to hire more people and expand their business.”

To this point, he has been tight-lipped about the possibility of cutting Federal agencies to ease Americans’ tax burden. But a reporter recently overheard the candidate sounding much more like a conservative’s conservative at a closed-door fundraiser, according to MSNBC.

“I’m going to take a lot of departments in Washington, and agencies, and combine them. Some eliminate, but I’m probably not going to lay out just exactly which ones are going to go,” Romney said. “Things like Housing and Urban Development, which my dad was head of, that might not be around later. But I’m not going to actually go through these one by one. What I can tell you is, we’ve got far too many bureaucrats. I will send a lot of what happens in Washington back to the states.”

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • http://google rose

    With the way people vote I can’t help but think they enjoy paying taxes. Or else they would be backing Ron Paul. I am voting for him.

    • Hey You

      With about half of the USA voters paying no federal taxes at all, it seems as if paying taxes is not being though about by the majority of voters.

    • restorefreedom

      You would think the tax issue would be all Ron Paul would need to win not to mention all of his other freedom and liberty positions. His message doesn’t change and last of all he would abide by the constitution and expand our freedoms rather than throw all in a FEMA internment camp. Sounds like the dream candidate to me.

  • Sirian

    Romney’s 59 point plan is very complex and easily manipulated. KISS – Keep It Simple Stupid!!

  • Bob Rice

    Ron PAUL sounds like the only person,that has a head on his shoulder,the rest have their heads up their collective A —S.

  • sj

    Not only paying taxes but wading through the anaquaited tax code and being interrogated by the irs as I was recently. some of the questions i was asked included ” How much cash do you have.? Do you have any family or frends that could loan you money? Do you have a safty deposit box? Is there any cash in it.? Needless to say I am a Ron Paul supporter……

    • http://www.ifonlyphotos.com Alex Frazier

      Sorry sj, I hate to correct poeple, but “anaquaited” should be “antiquated,” derived from “antique.” In other words, “the tax code is an antique.”

      • http://www.ifonlyphotos.com Alex Frazier

        You see … I mispelled “people.” That’s why I hate correcting people, because it’s too easy to put your foot in your own mouth.

    • ToeTagTunny

      But yet, people still enjoy doing it even though they themselves are guilty of the same ‘misteaks’.. To most, a misspelled word is no big deal so long as the point comes across.

  • http://www.ifonlyphotos.com Alex Frazier

    Romney is certainly a better choice than Obama, but I don’t really like Romney. Apart from some people’s dislike of Paul’s foreign policy, I simply don’t understand why he doesn’t have more support. He’s the obvious choice for anyone with a brain.

    • Hey You

      You are implying that voting is a brain exercise. From the looks of the results, voting is no more than an emotional response by the “easily led”.

      • 2¢ worth…

        That’s easy to do for urban zombies..

    • Bruce

      I agree, Alex. The media has gone out of their way to make Dr Paul look like a loon and an isolationist. That in itself should tell you something. The liberals and the elite are scared to death of this guy. It is very clear to anyone with half a brain that they are ok with either Romney or Obama. The sad part is that people, even some educated conservatives, believe it and from all we know about the media they should know better.

      • Nancy in Nebraska

        I’m tired of “them” stealing my money and spending it on things I don’t approve of! I want my GOD given rights back! I want The Constitution back! We need to get rid of the republicans AND the democrats! They are all a sham!

      • Steve E

        If Jesus was running for presidential nominee, He would be treated by the MSM the same way Ron Paul is now treated by them. Of course you all know that.

      • 2¢ worth…

        “It is very clear to anyone with half a brain that they are ok with either Romney or Obama”..

        That statement can be proven by what I read the other day about it.. Can’t remember where (dammit) but they were discussing their disdain of having Romney as their next POTUS and instead chose to take the ‘lesser of both evils’.. Now tell me, is THAT anyway to look at such an important decision? Screwed in the head and willing to accept the status quo.. Unbelievable. Ron Paul 2012!!

  • RoseMarie Bain

    It is your right to vote,so if you don’t vote, don’t complain.

    • Hey You

      By voting, a person enters into a contract and hence has no basis to complain. Those who don’t vote do not enter in to a contract. Hence, they have every right to complain if the contract negatively effects them.

      Who ever heard of refusing to enter into any contact and then having that contract applying to those who refused to enter into it? Want to get a loan, but you don’t like the terms of the contract? Tough! Your neighbors agreed to those terms, so your in, also – -and you have no justification to complain.

      Victims everywhere have every right to complain!

      • boyscout

        Just remember that your cast vote selects an elector of an elector. Don’t yaq just love the system?

    • http://thepeoplescongress.net Gordon

      It was once said ;it matters not who votes but who counts the votes. The one’s who are counting stack up as corrupt or just do not know hot to count, 1,2,3 etc.

  • michael john livingston

    Ron Paul 2012

  • http://www.cindynel.co.za peter

    Ron Paul seems to be the only one with any constructive thinking, but he is too old to appeal to the people who want a “hero” type so Obama leads the race to the white house, since he clearly epitomises what constitutes a “hero” in the eyes of the American populace. By the way Alex you need to check your spelling of misspelled ( misspelt ) as well.

    • http://boblivingstonpl.wordpress.com Bob Livingston

      Dear peter,

      You write: “Ron Paul seems to be the only one with any constructive thinking, but he is too old to appeal to the people who want a “hero” type…” Then explain why Ron Paul has so many young supporters and draws huge crowds on college campuses. It is not the young crowd Paul is having trouble with, it’s the older generations who have fallen into the neocon CINO (conservative in name only) GOP crowd who love war and empire.

      Best wishes,
      Bob

      • Nancy in Nebraska

        I don’t think the older generation “loves war”. They’ve just been convinced that everybody is out to get us. They’ve misplaced their trust in a government that has planted one false flag after another to “prove” to them that they are in danger.

    • steve in AZ

      Peter,

      People who want a hero “type” had their way last time – and got Obama for all of us to share. He is not my idea of a hero by any stretch of the imagination. Maybe as young people we should be taught to idolize individuals such as Dr. Paul. Our biggest problem then would be that there are so few people in his class.

      By the way – Dr. Paul has challenged the candidate field to a 20 mile bike race in Houston in 90 degree heat and 90% humidity to determine who among them is old. So far none of the other candidates has accepted his challenge.

      He is my idea of a hero type, having stood alone for decades fighting the evil bureaucratic dragons of government and neocon empiricists single handedly with only the weapons of integrity and principle. I guess that’s not good enough for our instant gratification demanding American Idol society.

      It’s our concept of heroicism that needs changing.

      • KS

        Spot ON my friend. Ron Paul it is!

      • Steve E

        He is the only one to hit a homer in any of the Congressional baseball games also. I bet if he were President, he would also hit a homer being in the White House.

    • 2¢ worth…

      Look at our past Presidents who had been considered ‘over the hill’ in today’s standard and note what they did for our Nation. If Ron Paul believed he couldn’t handle the pressure he sure as hell wouldn’t put his life in jeopardy just to prove a point.. I have faith, more in Ron Paul than the voters who continue to choose the lesser of two evils.. And not even choices but.. WHAT THE ELITES OFFER!.. BAH!!

  • Texas Truth Seeker

    Ron Paul is the only true STATESMAN in all this commotion. We need to get back
    to the Constitution ASAP. With half of the people getting something from the government, and growth of the bureaucrats, especially the IRS, it is time for a change.

    WHEN THE GOVERNMENT FEARS THE PEOPLE, WE HAVE LIBERTY—-WHEN THE
    PEOPLE FEARS THE GOVERNMENT, WE HAVE TYRANNY.—–THOMAS JEFFERSON

    RON PAUL—–2012 TO RESTORE AMERICA

  • Texas Truth Seeker

    Steve in Az..—–You are now on my list of heros. It is so very refreshing to hear such
    common sense. Ron Paul is one of the most courageous Americans I have ever seen.
    HE IS THE REAL DEAL AND SHOULD BE OUR NEXT PRESIDENT. How many politicians
    do you know that cannot be bought? Ron Paul cannot be bought.

  • Dens

    Taxes, which started out as a simple, uncomplicated way for our then representative government to pay for a common defense, have now become a fine for being a successful, independent working citizen or business. The more successful you are and the harder you work, the stiffer the fine.

    No matter how complicated government lawyers make the tax code it still amounts to the same thing, it’s just more difficult to read and understand which is what keeps tax lawyers employed, politicians spending money which they did not earn and working people broke.

    Ron Paul understands this and offers a practical, no-nonsense solution for starting to fix the problem. The other candidates offer additional complications to pile on top of the overly complicated tax nightmare which will insure the armed robbery continues.

  • Bill Zehner

    I prefer a tax rate not to exceed 9.9% on all untaxed income including unrealized capital gains, government transfer payments, previously untaxed trust and foundation assets, and reported corporate income. The standard individual deductions and exemptions would reduce the amount of income subject to tax. The same tax rate would apply to a general sales tax. The estate tax would then be eliminated. Keep tax reform simple and keep the tax rates low.

    • Truthseeker

      Better that we don’t pay any personal income tax at all. I don’t believe anybody owes personal income tax. Just abolish the irs and eliminate all the hassel.

      • http://PersonalLiberty FEDUP

        Truthseeker, my feelings exactly, we are taxed to death, local, county and state taxes are getting out of hand also. Where or when will enough be enough for them? the answer is never, the more we pay the more they want. Time for US taxpayers to say NO MORE, KEEP YOUR HANDS OUT OF MY POCKET. My personal opinion is, they are stealing money from me and my family to just piss away however they see fit.

  • http://PersonalLiberty.com Pam

    In my years (over 50) I have seen too many people vote on stupid ideas, not important issues. I’ve known women who voted for Clinton and Obama because they thought they were CUTE. Surprisingly they were all Dem women. By the way I would like to know who all these people are that don’t pay taxes. I make less then $10,000 a year and pay taxes. Maybe it’s because I do not get any (I refuse) government hand outs.

  • Earl, QUEENS, NY

    In our local newspaper (metro – New York, page 2, 4/18/2012) we read about more protests here in New York City. This time the hippies are dressed in ‘tax dodgers’ baseball uniforms, protesting against tax loopholes for corporations. GET REAL!! It is corporations, as well as smaller businesses, who provide jobs. I could respect these drones and hippies a lot more if they would instead protest against the phony rich democraps (mainly politicians) who cheat on their taxes and get away with it. Think about it. Corporations and smaller businesses are not the ones that want to confiscate wealth from others so they can throw crumbs at you and keep the rest for themselves and their cronies. ….. A good message from all Americans to the White House might go like this: “Mr. President. You say we cannot afford tax breaks. But the truth is that we cannot afford the huge increase in profligate spending which you began after 1/20/2009. We cannot afford all the pork barrel spending of the failed stimulus – porkulus bill. We cannot afford Obamacare. Even if we confiscated all income over $200,000, it wouldn’t be enough to pay down national debt. It is government which should sacrifice, not the American people or job producers!!

  • Rocketman

    If Romney wins, the smartest thing that he could possibly do is to keep Ron Paul around. He would make an outstanding Treasury Sectatary or maybe be the head of Romneys fiscal policy board. He knows more about economics that all the democrats in congress combined.

    • chuck

      Put Dr. Paul in the oval office and let “Mittens” sit by the front door to purr, and greet the visitors.

  • Bruce

    Today’s business folks are not providing jobs and they look continiously for ways to get by cheaperso they can keep the rest or they outsource and hire illegals. Nope, I paid my share and these crooks gotta pay theirs. That includes the politicians. We have to tax! We are supporting all these seniors, veterans, poor white trash, negros and mexicans and they number over half of the population. Every one and every business should pony up a flat rate of 20 percent or have a 20 percent national sales tax. That wil support obamacare and feed the bruthas!

  • LeeS

    Granted Ron Paul has some unique solutions for solving the tax problems in this country, but his other ideas on various other problems are completely wacko. I believe we need to have taxes otherwise our country will cease to exist. However, I believe that Newt Gingrichs’ idea of a VAT tax is the best. Or a flat tax of say 10% or 12% for everybody in and above a certain income. I also believe that any and all State taxes should be deductible from any federal taxes. Also, I believe that this country should STOP subsidizing the rest of the world. Every year we GIVE (not loan-Give) billions of dollars to countries that hate us such as Egypt where we give them 1.5 billion dollars and they hate us. We need to start taking care of Americans first and foremost.

    • steve in AZ

      Some people just can’t stand prosperity. Wacko? Wacko? You’ve been drinking the Kool-aid, sir. Hie thee to a hospital for some pump action, quickly. And you can’t see through Newt like a squeaky clean window pane? I guess we need opinions no matter what they’re based on.

  • Earl, QUEENS, NY

    I hope this is not just more disguised pro-Ron Paul propaganda. There are many good solid conservatives who can lead us back to constitutional limited government, and lower taxes. I don’t think an old McGovern like nincompoop is one of them!! These delusional Ron Paul supporters are such wishful thinkers!! He’s unelectable!! He can’t seem to get more 10% of the votes in any primary. However, it is important to consider that that 10% could make a difference if this old crackpot Paul runs as a third party spoiler. He WILL lose!! And he could easily take away enough votes from the GOP to get BHO re-elected. Is that what these pro-MoRon Paul idiots really want????? I understand people’s frustrations with the GOP establishment, RINOs and moderate GOP wimps. But the solution is not a nincompoop like MoRon Paul. What we need is to repeat 1980 and 1984, when a bold outspoken conservative takes control of the party, wins two landslides, and is a success. Why repeat the mistakes of 1976, 1996 and 2008?? GET REAL!!

    • Bruce

      Every election cycle it’s the same thing over and over. The ruling class selects two candidates, “Evil” and “The Lesser of Two Evils.” It doesn’t matter which one wins because both have been pre-approved. Then the dog and pony show begins. Any additional candidates with an ounce of integrity are quickly discredited and deemed crackpots and nincompoops by the Liberal Media. The sad part of this scenario is that there are are a lot of Chuckle Heads that still believe the media and perpetuate this cycle over and over and over. These same Chuckle Heads have been played by the ruling class and they’re either not bright enough to figure it out or to distracted to care. Myself and hundreds of thousands of others are sick of being outsmarted by the elite. If Dr Paul makes it to the ballot we will vote for him even if it’s a third party. If you think voting for another Goldman Sachs candidate (Romney) is the way to go then by all means do so. It’s still kind of a free country. But, don’t blame us for the outcome. After all, you were the the gullible one that played into the hands of the Elite and didn’t have the nads to stand up and break the cycle.

  • Gang Buster 2012

    I Agree!!!Beak The Super pacs,Write in Ron Paul.Send them a early Christmas Gift,telling them we are taking back our goverment,and country!!!!!!!

  • Pat

    The economic disaster in America is that Congress has created an enormous IRS to track the millions of Americans for taxes who have little or no disposal income, instead of taxing the fewer companies and businesses who are in a position to make, hide income, and hire accountants to manipulate their payrolls for little or no tax status.

    Companies were made for taxation and is why they pay so little in dividends after taxation. If they did not pay taxes, they could be construed as partnerships who owe a percentage of profits to the persons who invest in them. They cannot have it both ways.

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