PUBLIC OPINION > Insourcing Could Bring Back Jobs

As MW1121 said, incentives are not enough to keep jobs here... MW noted Obamacare, but it’s also the Dodd/Frank bill that is killing small banks around the country, its Sarbanes Oxley, it’s the EPA and its creation of its own mandates and regs. Its state and local business regulations too. And ultimately, it’s TAXES.

We have an 80,000 page tax code and the highest corporate tax rate of any industrial nation, yet the companies with deep pockets and connections with the crony-political world of Dems and RINOs can get away paying NO TAXES (does General Electric ring a bell?)

The incentives that PresBarry offers are transient. They can go away as quickly as they are created, while that small business owner has to look at the faces of the employees he hired based on the illusory incentives from the Plantation Massah in Washington.

What is needed is permanence in setting down the rules of engagement. If you don't know what tomorrow is gonna bring, you don't put your capital at risk and you don't hire new folks and make new commitments.

We need to abolish Dodd/Frank and Sarbanes... we need to abolish the entire tax code and replace it with a completely new paradigm. Instead of basing taxation on income and wealth creation, instead of penalizing success and rewarding failure, instead of teaching us to spend and borrow, we need to have a tax system that incentivise savings, investment and capital appreciation. The tax system that can do all of the above is the FairTax... an existing bill in congress that currently has over SIX DOZEN bipartisan cosponsors (HR-25/S-13). The "FT" is a flat, simple, progressive national sales tax on all NEW goods and services purchased by the end user. Used goods, tuition, investments and 'business to business' transactions are not subject to the FT.

HR-25 would completely untax businesses and corporation from paying taxes on their profits either domestic or foreign. It would allow the trillions of dollars of earnings made by American companies overseas that would be taxed (again) by the IRS if they brought those funds back to the U.S. and tried to invest in new infrastructure and job creation.

The FairTax would completely untax the working poor since the prebate feature refunds all taxes paid on spending up to the poverty level for all taxpayers.

The FairTax would turn our nation into the world’s tax haven, allowing American goods to cost less and be far more attractive to foreign consumers since the tax component would be gone and the FairTax would not apply to exported items. This competitive edge would attract billions in foreign investment capital and would reverse the flight of American jobs going overseas. As the cost of home ownership would be reduced, our depressed housing industry could get back on its feet, putting our construction industry back in business. The same can be said for our auto and other manufacturing enterprises that would export untaxed products overseas.

The FairTax is fair because if Bill Gates, Warren Buffet, Oprah Winfrey, you, or me buy that bottle of Pepsi and a Big Mac, we will all pay the same amount of tax. No longer would someone in Washington need to know your personal business, your earnings, your marital status, whether you own or rent, or what you invest in or what you buy. Your privacy is yours again. No longer does a mortgage payment get preferential treatment over a rent payment. No longer is hard work and achievement punished as income increases. No longer would risk-taking and investment capital be penalized while failure is rewarded. Everyone pays the same sales tax and everyone gets the same prebate.

Bottom line: the FairTax is fair because it takes the politics out of revenue generation.

With the FairTax, Washington would no longer be able to use the tax code to reward their cronies and punish their enemies. The FairTax gives people the freedom to choose when and how much they want to pay for the government they desire.

And that’s what really scares the people inside the Beltway.

Scum1: "...many right offs and loopholes so most big Corps don't pay near that much"

Big corporations are not the major driving force in job creation and hiring.

That's the purview of SMALL Business... you know... the same SMALL Businesses that don't have the armies of tax lawyers and accountants that can find all of the custom tailored loopholes that BIG CRONY CORPORATIONS have created with their "Political Partners" in government.

The typical small business pays out over $1.40 for every actual dollar of tax revenue collected by the Fed. That extra 40 cents is to pay the documentation, consulting and filing costs of the business or Small Corporation to adhere to our overly complex tax code.

Many small start-up businesses don't even generate taxable profits for the first four or five years, but they still have to file each year and that means they have to prove that they DIDN'T make any taxable profit. And that adds to the cost of doing business.

The real solution is to abolish the existing tax code entirely and replace it with The FairTax which is a simple flat retail sales tax on all new goods and services sold to the end user.

No longer would a business even have to FILE, or check with a tax consultant to see if they should replace their fleet of delivery trucks, or replace that six figure printing press or build a new building.

Yup, business decisions would be based on the intrinsic benefits of the specific business opportunity instead of being based on the tax ramifications and collateral affects such business decisions may have on that small company (or big company for that matter).

Support the Candidates that Support the FairTax!

OK, the only corporation that's payed "zero" this year that has been publicized is GE. They make most of their money off-shore in the manufacturing end. They are also heavily into "green" energy with wind turbines etc.
What about CEO pay? I don't hear anyone complaining about the pay of the Hollywood crowd, or the sports figures that get far more and contribute so much less in the way of running or expanding economic opportunity for people. That's a very lame argument. Then we have the people touting this that hide behind the tax laws who are very influential in the Democrat party. Take Warren Buffett. He draws very little as salary which is taxed as income. His big thing is drawing capital gains which is taxed less then half. Then we have John Kerry who lives on his wife's dime. Of course you can point to Darrell Issa who is the richest member, but then look at the next bunch.

http://www.politico.com/news/...

"CRP says California Republican Rep. Darrell Issa is the richest lawmaker on Capitol Hill, with a net worth estimated at about $251 million. Next in line: Rep. Jane Harman (D-Calif.), worth about $244.7 million; Sen. Herb Kohl (D-Wis.), worth about $214.5 million; Sen. Mark Warner (D-Va.), worth about $209.7 million; and Sen. John Kerry (D-Mass.), worth about $208.8 million."

Looks like Kerry is kind of a piker. But yet, it's this same bunch that talk about "fairness" when it comes to regular employee's pay. Why? There are so many that don't bother to check the fact and suck up this crap. There are also those who are upset because they weren't dealt the exact same hand at birth and are jealous of achievement.
Remember, we all came into this world naked, and helpless. What life deals you, you make the best of it. Don't complain about someone making more than you. You could just as well complain because you aren't living under a bridge and starving.