Posts Tagged ‘Taxes’

The Business side of tax increases and inflation

Ok. I don’t often sound off on specific policies but here we go.

Taxes. Here is the unintended consequence of increasing taxes.

Why should I bit her knocking myself out to bring home an extra $20k over my base salary assuming I make in the now higher bracket. I will take more time off instead.

Here is the problem for the US federal tax revenue. They will get all the tax revenue on my salary as they should. They will miss that extra income while I go home and watch Dancing with the Stars.

Now I’m happy and well rested. I have a little less money in the bank. But the fed loses the Taxes they would have gotten on that 20k. In the higher bracket that is a few grand.

Multiply that by a lot of people. See where i am going? Higher income people seem to be good at the math.

I for one vote for a flat tax. Being a realist a graduate tax rate is what we have and what we will have. So how about a gently graduated rate a close a lot of loopholes and seriously limit write-offs but give a lower overall rate.

Higher taxes are very bad for the economy. This in turn is very bad for government revenues at all levels.


Tax Day and President Obama

I agree that politicians can and will say almost anything depending on what audience they are talking to.

I was so offended by something the President said the other day I almost called the white house switchboard. But rather than being reactionary I said to myself well he’s a politician and a fairly successful one being President.

The President said some pretty nasty things about the tea partiers which I am not one of but I see their point. This is a country where you can protest and leaders should take that freedom seriously. People can say whatever they want if you disagree with it you are allowed to shout at the top of your lungs the opposite. This is based on laws such as slander, etc of course but you get my point.

However on Tax Day the President said we should be thanking him for that bill I had to send in. I paid a LOT in taxes and you know what I’m happy to have the ability to. Its fine I’ll pay my share whatever that is. But good lord do you have to be so snarky about it? I won’t thank you for the taxes Mr. Obama and the increases you have in store for me. I won’t do it. I will thank you to take a different tactic and say “to those of you who pay above the average tax burdon, thank you. We want to be able to help all American’s achieve the dream” Try that tactic Mr. President and you may not force me to campaign against you. It will be incrediablly hard to get me to vote for you but I may not actively work against you if you stop the arrogant attack on people.