The United States has the highest corporate tax rate in the world - 35%. It doesn't take a financial genius to understand what this means - money (capital) goes where money gets. And it's not going, or remaining, in the United States.
General Electric paid no U.S. taxes last year. Budget recommendations currently being proposed closes loopholes,like those G.E. has received.
FOX News contributor Charles Krauthammer recommends eliminating loopholes and then, with the money we get from that, lower tax rates across the board to 8%,15% and 23%. It's called "broadening the base." This is something even the President's own Deficit Commission recommends.
I recently heard an argument that Google's operation in Ireland funnels profits there to a bank in the Netherlands. From there it is moved to an offshore bank, in the Bahamas as I recall. Why do I bring this up? Because the U.S. is getting 35% of nothing.
There's no reason that we can't be getting a percentage of SOMETHING. What do you think might happen if we coupled lowered tax rates to reduced government spending? Might we see a return to American prosperity and investment in America?
Take a look at a Sunday newspaper from the 1960s. Scroll to the Employment Ads. Compare what you see there to the same today. Get the picture?.
Wednesday, April 06, 2011
Sunday, April 03, 2011
The Sad State of Social Security - the betrayal of the American Middle Class
Although the piece below blames Social Security's woes on the Democrats, Republicans must share in the betrayal. I have not checked ALL of these points with snopes.com or others. If you find any untruths please advise and I will amend my post.
SUBJECT: HISTORY LESSON ON YOUR SOCIAL SECURITY CARD
Forwarded from Pete Hannon. Author unknown.
"Your Social Security
Just in case some of you young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it. Be sure and show it to your kids. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts!!!
Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anyway and the message was removed.[9]
An old Social Security card with the "NOT FOR IDENTIFICATION" message.
Our Social Security
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised: If you go to the Social Security Administration government website you'll find that Social Security is a Voluntary program, and only the SSA can require you to give a Social Security Number for the purposes of identification. No American is required to pay into this federally setup Social Security Insurance program, Nor is any American required to apply for or obtain a SSN from the SSA.
Read more: http://wiki.answers.com/Q/Is_social_security_voluntary#ixzz1ISsQUfa7
No longer Voluntary http://wiki.answers.com/Q/Is_social_security_voluntary
1) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program,
Now 7.65% on the first $90,000
2.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
No longer tax deductible
3.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,
Under Johnson the money was moved to The General Fund and Spent
4.) That the annuity payments to the retirees would never be taxed as income.
Under Clinton & Gore up to 85% of your Social Security can be Taxed Since many of us have paid into FICA for years and are now receiving a Social Security check every month -- and then finding that we are getting taxed on 85% of the money we paid to the Federal government to 'put away' -- you may be interested in the following:
------------ --------- --------- --------- --------- --------- ----
Q: Which Political Party took Social Security from the independent 'Trust Fund' and put it into the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the democratically controlled House and Senate.
------------ --------- --------- --------- --------- --------- --------- --
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
------------ --------- --------- --------- --------- --------- --------- -----
Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, with Al Gore casting the 'tie-breaking' deciding vote as President of the Senate, while he was Vice President of the US
------------ --------- --------- --------- --------- --------- --------- -
Q: Which Political Party decided to start giving annuity payments to immigrants?
AND MY FAVORITE:
A: That's right! Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!
------------ -- ------------ --------- ----- ------------ ---------
Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!
And the worst part about it is uninformed citizens believe it! If enough people receive this, maybe a seed of awareness will be planted and maybe changes will evolve. Maybe not, some Democrats are awfully sure of what isn't so.
But it's worth a try. How many people can YOU send this to?
Actions speak louder than bumper stickers.
AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!
(http://wiki.answers.com/Q/Do_congressman_receive_lifetime_pension_for_1_term_in_congress)
SUBJECT: HISTORY LESSON ON YOUR SOCIAL SECURITY CARD
Forwarded from Pete Hannon. Author unknown.
"Your Social Security
Just in case some of you young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it. Be sure and show it to your kids. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts!!!
Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anyway and the message was removed.[9]
An old Social Security card with the "NOT FOR IDENTIFICATION" message.
Our Social Security
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised: If you go to the Social Security Administration government website you'll find that Social Security is a Voluntary program, and only the SSA can require you to give a Social Security Number for the purposes of identification. No American is required to pay into this federally setup Social Security Insurance program, Nor is any American required to apply for or obtain a SSN from the SSA.
Read more: http://wiki.answers.com/Q/Is_social_security_voluntary#ixzz1ISsQUfa7
No longer Voluntary http://wiki.answers.com/Q/Is_social_security_voluntary
1) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program,
Now 7.65% on the first $90,000
2.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
No longer tax deductible
3.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,
Under Johnson the money was moved to The General Fund and Spent
4.) That the annuity payments to the retirees would never be taxed as income.
Under Clinton & Gore up to 85% of your Social Security can be Taxed Since many of us have paid into FICA for years and are now receiving a Social Security check every month -- and then finding that we are getting taxed on 85% of the money we paid to the Federal government to 'put away' -- you may be interested in the following:
------------ --------- --------- --------- --------- --------- ----
Q: Which Political Party took Social Security from the independent 'Trust Fund' and put it into the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the democratically controlled House and Senate.
------------ --------- --------- --------- --------- --------- --------- --
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
------------ --------- --------- --------- --------- --------- --------- -----
Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, with Al Gore casting the 'tie-breaking' deciding vote as President of the Senate, while he was Vice President of the US
------------ --------- --------- --------- --------- --------- --------- -
Q: Which Political Party decided to start giving annuity payments to immigrants?
AND MY FAVORITE:
A: That's right! Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!
------------ -- ------------ --------- ----- ------------ ---------
Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!
And the worst part about it is uninformed citizens believe it! If enough people receive this, maybe a seed of awareness will be planted and maybe changes will evolve. Maybe not, some Democrats are awfully sure of what isn't so.
But it's worth a try. How many people can YOU send this to?
Actions speak louder than bumper stickers.
AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!
(http://wiki.answers.com/Q/Do_congressman_receive_lifetime_pension_for_1_term_in_congress)
"Tyranny of the Minortiy" - In the interest of truth I add the link below.
http://www.usmm.org/nmu.html Here's a little info on the "Union refusal" to work. You may want to pass it along. ---Fran
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