Nonpartisan Tax Report Suppressed by GOP

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New York Times/Yahoo! Finance

To be part of the Right you must just believe. (Thinking is not permitted and will be appropriately punished.)

To say this study is nonpartisan is rather laughable, what it is saying is quite frankly illogical.

1. Taxes eat into profits that a business makes, which can affect the number of new hires a business can make, as well as any plans to expand the business.

2. Complicated Tax forms take time away from doing business, and in effect costs a business money. That's one of the reasons why Herman Cain's 9-9-9 plan was so attractive to people. It simplified the tax code so that one didn't have to take nearly as much time to do their taxes.

3. Taxes actually affect how much a business charges consumers to buy their products, and having the highest corporate tax rate in the world puts our businesses at a handicap simply due to taxes.

I know people in acadamia like to believe that taxes don't affect businesses in a negative fashion, and that insane taxes won't cause businesses to either move or go out of business; but the real world is substancially different than what academics with no real world experience would like to believe.

Personal income is taxed.

Business Profits are taxed,

Investments are taxed, when and if they turn a profit.

A low tax rate promotes keeping the money.

As the personal rate goes up there is more incentive to spend, on something that is a tax deduction.

When business pays a higher rate, say 50% of Profits, that next deductable worker comes at half price.

When short term Capital rates go up, it shifts investment from Speculation, to investment in production.

In all cases a higher tax rate makes investing in longer term economic growth more desireable.

Short term thinking turns income into savings, hourding Capital, for low rates, 15%, pay it and bank the 85%, but when it is 50%, buy something, build something, which pays people to work.

It is still an advantage, when a high earner can buy the same thing I do for half off. To me, a worker is a big expense, deductable but a large part of my income. To a high earner, it is tax avoidance.

Higher rates do not harm me, because that is about profits, and I am trying to grow.

Higher rates do not harm high earners, because they can avoid the rate by spending, which preserves Capital pre tax.

What high rates do prevent is Capital being concentrated in the hands of a few very rich, where it will be used for short term speculation.

Oil, grain, real estate a few years back, where where short term investing drove up prices without increasing value, employment, other economic activity, which does pay local taxes, sales, school, when someone flips a house in two months. It drives up the taxes paid by the next buyer, who not having a pile of Capital, had to borrow, then pay a higher price. The same in oil contracts, bought up just to decrease supply, and drive up the price.

Capital is good and evil, and needs to be controlled. High taxes is what produced the Middle Class, who then could be consumers, which is 75% of the economy. Letting Investors buy and sell the jobs and companies of the Middle Class, Bain Capital, is making war on 75% of the economy, for the benefit of a small group of very wealthy.

The main economic problem of this planet, there is a $100 Trillion not invested in production, looking to make 10% a year by Speculation, logging a rainforest, starting a war, now buying Chinese Factories to fire everyone and move to Viet Nam.

It financed fishing fleets that tripled the world catch, at a time it was declining from over fishing.

Capital lacks morals or a long term plan, that is why we have governments, and taxes.

Taxes are the only method to keep Capital from causing artifical famines, gas shortages, speculating in all things people need to live, to where we are all captives of someones credit line.

Also, the biggest danger, worse than Capital, is Debt. Taxes are the only way to reduce debt. Investing in Public Debt is the final speculation, when the people are paying 5% on $20 Trillion, it is half the Public Purse going to money lenders. They produce nothing.

The only way to reverse it is taxes. Taxes being high on short term speculation, a transaction tax on stock trades, where computers trade a hundred times a minute, looking to take the profit out of the market before long term investors can buy in. A 1% tax on purchases would end this practice.

The rich have enough, what we need is more rich, more almost rich, and lots who could become rich. The way to reach that goal is taxing speculation as ordinary income, making all income subject to Social Security, and a progressive tax rate. Those who make a Trillion a year after deductions, can pay 99%. Those who make a Billion, 90%, those who make a Million, 50%, and I would take it down to school kids with no earned income, that can still come up with $10 toward their cost of upkeep.

Everyone a tax paying Citizen, everyone supporting our common venture, with the goal of being like Norway, no debt and owns 1% of the world stocks.

The best education is the best investment. We have the providers and customers, the market is unlimited.

It is not the rich, not the Fortune 500, not Wall Street and the Banks, or Congress, this country is owned by over 300,000,000 stock holders, and in a few years, they will all be dead, and replaced by another younger group, that wants a better life.

Besides taxing children, call it a Poll Tax, let ten year olds vote, because they have more interest in the long term future than anyone else.

You can do wrong a million ways, you only have to do right once.