TAMPA, Florida – GOP hopeful Tom Voiland laid out his plan to deal with what he calls “the greatest encumbrance to the healthy growth of the American economy – too many damn taxes”. Voiland, a noted Reagan Conservative, believes that Americans are significantly overtaxed and if they simply looked at the facts and turned away from Democratic rhetoric, they would see this unfortunate truth. “The lowering of the overall tax base in this country will do two things; put a lot more money back in the pockets of those who ‘earned’ it, and force us to significantly cut the size and spending of government. The affect of this is to begin to take the surpluses produced and pay down the insane amount of debt the Democratic party has saddled us with”.
Here is the official announcement from the Voiland campaign.
On Taxes. As many young people do, I was forming various belief systems throughout college and in my early 20s. Coming out of college, a lot of us believe we’re now “know it alls”, an attitude that slowly fades away with age and wisdom. One of my omniscient attitudes coming out of school with a business degree was that almost all taxes were completely unnecessary. Then I had my ah hah moment. It was in of all places Washington, D.C. I was strolling along the National Mall and happened by the Internal Revenue Service Building. Right before I threw a rock at the place, I looked up at the frieze where it says; “Taxes are what we pay for a civilized society” (Oliver Wendell Holmes).
Yes, taxes are what we pay for a civilized society such that a central authority, in our case “government”, can have the resources to ensure we are protected as citizens (military, police, firefighters, CIA, etc.), have representative government, a thriving judiciary and social safety nets. Christ once said; “render unto Cesar……”. This was an endorsement that not only should we love our neighbors through directly assisting the poor financially as an example, but that God’s laws should be integrated into civil law. Further, that we should be respectful and subordinate to civil laws. Part of that is paying taxes which Christ’s comment directly referenced. However, Christ did not imply how much we should render. He did not imply that people should be bilked by the government to promote a socialist agenda and to cover massive spending inefficiencies.
When is enough? Well you can start by simply asking yourself; “Do I feel like government is taking too much of MY money?” Then ask, “After I pay all these various and sundry taxes, is there enough left over for me to live the American dream or do I feel like my work efforts are not being adequately rewarded because of all these taxes I pay?” Next, inquire of yourself; “When I look at D.C, my state, my county and my city, do I feel and see positive results of MY money being spent and/or being spent wisely?”
Allow me to list the taxes we all pay:
- Income taxes; Federal - let’s say the average “effective rate” (what you actually pay after you do your tax return divided by your W2 earnings) is 10%. Note that only 53% of Americans pay income taxes, the rest pay nothing – roughly about 50 to 60 million people. For the sake of argument, let’s say the average family makes $75,000 annually. Their income tax then is $7,500.
- Income taxes; State – Most of us pay state income taxes, unless you live in Florida, like I do, or a few others. Say the average here is 5%. This would equal $3,750.
- Social Security taxes – Roughly 8% of W2 earnings. That’s $6,000.
- Sales tax – Let’s say the average is 5%. If the average family is bringing home $51,750 ($75,000-$7,500 -$3,750-$6,000-another $6,000 for health care) and say pays sales taxes on 40% of that number (consumer goods purchased), that’s $1,100.
- Property taxes - Let’s just say the average is $1,500.
- All others – Estimated at 5% of take home pay (gas, alcohol, cigarettes, estate, special assessments, etc.). This equals $2,588.
So, for a family that earns $75,000 annually – clearly what’s defined as middle class – their disposable income is $47,662. Note my assumptions are very conservative so as to not inflate my position. Thus, the average middle class family has an “effective” tax rate of approximately 37%. On top of all the necessities we have to pay for, make up your owns minds as to whether your comfortable giving the government 37% of “your” money or not.
My position on taxes is simple. At the federal level they are too high and not enough Americans pay taxes so that they can exist in a civil society. No one above the poverty line should be exempt from supporting government’s basic need to facilitate the American Dream. My administration will review the current tax code, currently 71,000 pages and ascertain not only the over complexity of this monstrosity, but also close loopholes that are unfairly advantageous to the very wealth and C corporations (no “all” corporations). These two classes of tax payers should never be exempt from paying taxes ($0) unless either or both have zero cash basis net income (after net operating loss carryforwards). All individual marginal rates would be cut.
After this review, the code will be made materially simpler to understand and implement. These adjustments will include “all” Americans above the poverty line paying federal income tax of at least $500. This fair adjustment to the IRS code would generate $25 billion in additional tax revenue. Money moved offshore would be subject to taxes when reentering the American economy. Lastly, C corporation tax rates would be cut from 35% to 25%, the capital gains rate cut from 15% to 10%, and the so-called death tax abolished.
Insurgent Presidential Candidate Lays Out Tax Plan
TAMPA, Florida – GOP hopeful Tom Voiland laid out his plan to deal with what he calls “the greatest encumbrance to the healthy growth of the American economy – too many damn taxes”. Voiland, a noted Reagan Conservative, believes that Americans are significantly overtaxed and if they simply looked at the facts and turned away from Democratic rhetoric, they would see this unfortunate truth. “The lowering of the overall tax base in this country will do two things; put a lot more money back in the pockets of those who ‘earned’ it, and force us to significantly cut the size and spending of government. The affect of this is to begin to take the surpluses produced and pay down the insane amount of debt the Democratic party has saddled us with”.
Here is the official announcement from the Voiland campaign.
On Taxes. As many young people do, I was forming various belief systems throughout college and in my early 20s. Coming out of college, a lot of us believe we’re now “know it alls”, an attitude that slowly fades away with age and wisdom. One of my omniscient attitudes coming out of school with a business degree was that almost all taxes were completely unnecessary. Then I had my ah hah moment. It was in of all places Washington, D.C. I was strolling along the National Mall and happened by the Internal Revenue Service Building. Right before I threw a rock at the place, I looked up at the frieze where it says; “Taxes are what we pay for a civilized society” (Oliver Wendell Holmes).
Yes, taxes are what we pay for a civilized society such that a central authority, in our case “government”, can have the resources to ensure we are protected as citizens (military, police, firefighters, CIA, etc.), have representative government, a thriving judiciary and social safety nets. Christ once said; “render unto Cesar……”. This was an endorsement that not only should we love our neighbors through directly assisting the poor financially as an example, but that God’s laws should be integrated into civil law. Further, that we should be respectful and subordinate to civil laws. Part of that is paying taxes which Christ’s comment directly referenced. However, Christ did not imply how much we should render. He did not imply that people should be bilked by the government to promote a socialist agenda and to cover massive spending inefficiencies.
When is enough? Well you can start by simply asking yourself; “Do I feel like government is taking too much of MY money?” Then ask, “After I pay all these various and sundry taxes, is there enough left over for me to live the American dream or do I feel like my work efforts are not being adequately rewarded because of all these taxes I pay?” Next, inquire of yourself; “When I look at D.C, my state, my county and my city, do I feel and see positive results of MY money being spent and/or being spent wisely?”
Allow me to list the taxes we all pay:
So, for a family that earns $75,000 annually – clearly what’s defined as middle class – their disposable income is $47,662. Note my assumptions are very conservative so as to not inflate my position. Thus, the average middle class family has an “effective” tax rate of approximately 37%. On top of all the necessities we have to pay for, make up your owns minds as to whether your comfortable giving the government 37% of “your” money or not.
My position on taxes is simple. At the federal level they are too high and not enough Americans pay taxes so that they can exist in a civil society. No one above the poverty line should be exempt from supporting government’s basic need to facilitate the American Dream. My administration will review the current tax code, currently 71,000 pages and ascertain not only the over complexity of this monstrosity, but also close loopholes that are unfairly advantageous to the very wealth and C corporations (no “all” corporations). These two classes of tax payers should never be exempt from paying taxes ($0) unless either or both have zero cash basis net income (after net operating loss carryforwards). All individual marginal rates would be cut.
After this review, the code will be made materially simpler to understand and implement. These adjustments will include “all” Americans above the poverty line paying federal income tax of at least $500. This fair adjustment to the IRS code would generate $25 billion in additional tax revenue. Money moved offshore would be subject to taxes when reentering the American economy. Lastly, C corporation tax rates would be cut from 35% to 25%, the capital gains rate cut from 15% to 10%, and the so-called death tax abolished.
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