For three posts I have come down hard on the Herman Cain Plan, based on the principal that it is too harsh on the poor. Since those posts, Governor Rick Perry
http://thehill.com/blogs/ballot-box/gop-presidential-primary/189527-rick-perry-offers-20-percent-flat-tax-option
http://online.wsj.com/article/SB10001424052970204777904576651330270547222.html?mod=WSJ_hpp_RIGHTTopCarousel_1
offered an equally abysmal flat tax of 20% with an opt out option.
The Scripture causes born-again believers to REMEMBER THE POOR when they judge righteous judgement. Both Herman and Rick have forgotten this.
"Open thy mouth.
Judge Righteously:
and plead the cause of the Poor and Needy." - Proverbs 31:9 (See also Isaiah 59:5-8.)
Let that suffice for now.
On November 17, 2010, I proposed a more effective basic tax plan than Herman Cain or Rick Perry
http://brianroysinput.blogspot.com/2010/11/allen-west-interviewed-by-recent-co-us.html
The article reads as thus:
We need more "cream of the crop" articulate and intelligent Politically Conservative US Military Officers and Veterans of recent conflicts like Allen West to be elected to Congress, be our Protect and Defend the US and its Constitution "war hawks" voices there, and use intelligent arguments and "no surrender" determination to make the changes necessary to preserve our US Constitution, US Sovereignty, and our Republic.
Mr. West, if you or any other Conservative Congressman reads this...in an accelerated version of Art Laffer's successful tax rate reduction and boost to the US economy in the 1980s, I propose this:
May the New Congress also propose, for across all tax brackets:
a 20% Federal Income Tax Rate Reduction for 2011,
a 10% further Tax Rate Reduction for 2012,
and a Tax Rate FREEZE at 0% for 2013.
I would also propose that in 2014, for income earners under $50,000, that there would be NO Increase;
and
for those making between $50,000.01 and $100,000.00, that there be a a no greater increase than 3% to 5%, but that the lesser or greater rate within that income bracket be determined by Congress in the year 2013 specified into the language of the bill."
I would call this above basic proposal as Option Plan A. The intent was that while those with incomes above $100,000 could be returned to current tax rates in a Fourth year of implementation, those earning exactly $100,000 or less a year cannot be so increased under normal circumstances (unless a later Congress scraps the plan).
I now offer a "Pay as you are Able" Option Plan B as an alternative if the RNC and TEA Party dislikes the above.
In both plans, I retain the Internal Revenue Service, and allow it to be streamlined to 2008 or lower personnel levels.
Under my plan, you can not take more than 4 (that's four) $5,000 deductions. Non-profit donations of $5,000 and up will count simply as $5,000 with a non-profit organization receipt. No more than 4 dependents may be applied to income. If you have 5 dependents, you may only claim 4. If you have 4 dependents and give over $5,000 to your non-profit Church or Synagogue or registered non-profit charity, you may claim only 4 exemptions, for a total of $20,000 maximum payable adjusted income reported reduction. There will be no other major deductions in this tax plan. There will of course be the retention of various business exemptions such as being paid IRS miles rate, such as at 51 cents a mile, that will not be reported as income that will remain in place. Because of the specifics that can be involved, I need an Internal Revenue Service to make these Plans workable. The top dollar rate is rounded down in each category.
INCOME TAX RATE
18,000 - 24,999 1% $180 - 249
25,000 - 29,999 2% $500 - 599
30,000 - 39,999 3% $900 - 1199
40,000 - 49,999 4% $1600 - 1999
50,000 - 59,999 5% etc.
60,000 - 69,999 6%
70,000 - 79,999 7%
80,000 - 89,999 8%
90,000 - 99,999 9%
100,000 - 139,999 10%
140,000 - 179,999 11%
180,000 - 219,999 12%
220,000 - 299,999 13%
300,000 - 399,999 14%
400,000 - 499,999 15%
500,000 - 599,999 16%
600,000 - 699,999 17%
700,000 - 799,999 18%
800,000 - 899,999 19%
900,000 - 999,999 20%
1,000,000 - 1,999,999 24%
2,000,000 - 2,999,999 25%
3,000,000 - 3,999,999 26%
4,000,000 - 4,999,999 27%
5,000,000 - 5,999,999 28%
6,000,000 - 6,999,999 29%
7,000,000 - 7,999,999 30%
8,000,000 - 8,999,999 31%
9,000,000 - 9,999,999 32%
10,000,000 - 49,999,999 35%
50,000,000 - 99,999,999 40%
100,000,000 - 249,999,999 45%
250,000,000 + 50%
We should accompany this tax rate plan with:
1) a call for a Smaller and more efficient Federal Government Workforce (exempting the Military);
2) a faster means to cut through Bureaucracy at all levels;
3) a removal of pork spending altogether
4) a reduction of all US Federal pensions to no greater than $60,000 a year effective immediately (with only the Presidency as the exception -- see #6 below)
5) a removal of all Congressional pensions to those with less than 20 years service
6) a reduction of Federal wages to a cap of $120,000 including the US Presidency (which alone will have a wage and then effective immediately pension of $120,000 annum plus the usual Secret Service protection upon completion of term); and
7) a freeze on Federal pay-scales of all employees for at least the next 3 years.
If Congress cannot live on a $120,000 a year income, they need to move to a smaller house and live more respectably or get out of Congress; because if they are so unworthy as to be able to live within those means, they have no business making budgets for the rest of the Country.
This is my plan. I hope the Presidential Candidates will use it. Even Herman Cain is welcome to it, even though I at this time very much prefer
Michele Bachmann and Newt Gingrich
as my choice for President and Vice-President. -- Brianroy
[ October 28, 2011 - The Corporate tax rate was intentionally left out above, because my Primary contention was with the Individual Tax Rate and that there be no National Sales Tax created at Point of Purchase, etc.
The Corporate Tax Rate I would propose is 12.5% for businesses under $250,000,000 annual sales, and 15% for those above. There would be a 2.5% penalty for exporting US jobs overseas, and a 2.5% reward incentive for taking overseas jobs and investing them here in America with US workers. This worker re-investment credit would obligate the employer to create an average workweek of 36 hours per week for 50 weeks of the year. There would also be another 2.5% start-up credit for three years if the labor investment exceeds 10% of the labor force of the company being invested within any or a combination of the 50 States of the United States of America. In other words, an International US Company with 100,000 employees world-wide with 50,000 overseas jobs, relocates 10,000 overseas jobs back into the USA gets a 2.5% additional tax-rate deduction for three years as long as they keep and maintain the same or greater labor force in the US at the new employment rate (by example now 60,000 in the above example) during the entirety of each year for up to three years, and by keeping the hours of those employees at 36 hours a week for at least 50 weeks a year, the tax rate will be 10% for a $250,000,000+ annual sales company, and 7.5% for those companies with less than $250,000,000 annual sales.
This tax rate can drop even further by an additional 2.5% by being in the "endangered industries" list. Manufacturing, textile, steel mills, and certain other industries would be subject to an additional tax rate cut of 2.5% for up to 5 years, but only if the starting wages are $14.00 an hour or above (tentative wage number at this point) and maintained.
Most all other business deductions will dissipate, except for EPA compliance, and a Reagan Era deregulation of unnecessary regulations will also need to accompany this Corporate Tax Plan as well. For example, Congress will have to rewrite the laws as to the intensity and length and costs of environmental impact reports in regard to Federal Land leases, so that start-up can be in as little as 30 - 45 days from submission for approval to approval under a tiered inspection, interested parties and impact report system.
I hope this covers the Corporate Tax question. Thanks.]
http://thehill.com/blogs/ballot-box/gop-presidential-primary/189527-rick-perry-offers-20-percent-flat-tax-option
http://online.wsj.com/article/SB10001424052970204777904576651330270547222.html?mod=WSJ_hpp_RIGHTTopCarousel_1
offered an equally abysmal flat tax of 20% with an opt out option.
The Scripture causes born-again believers to REMEMBER THE POOR when they judge righteous judgement. Both Herman and Rick have forgotten this.
"Open thy mouth.
Judge Righteously:
and plead the cause of the Poor and Needy." - Proverbs 31:9 (See also Isaiah 59:5-8.)
Let that suffice for now.
On November 17, 2010, I proposed a more effective basic tax plan than Herman Cain or Rick Perry
http://brianroysinput.blogspot.com/2010/11/allen-west-interviewed-by-recent-co-us.html
The article reads as thus:
We need more "cream of the crop" articulate and intelligent Politically Conservative US Military Officers and Veterans of recent conflicts like Allen West to be elected to Congress, be our Protect and Defend the US and its Constitution "war hawks" voices there, and use intelligent arguments and "no surrender" determination to make the changes necessary to preserve our US Constitution, US Sovereignty, and our Republic.
Mr. West, if you or any other Conservative Congressman reads this...in an accelerated version of Art Laffer's successful tax rate reduction and boost to the US economy in the 1980s, I propose this:
May the New Congress also propose, for across all tax brackets:
a 20% Federal Income Tax Rate Reduction for 2011,
a 10% further Tax Rate Reduction for 2012,
and a Tax Rate FREEZE at 0% for 2013.
I would also propose that in 2014, for income earners under $50,000, that there would be NO Increase;
and
for those making between $50,000.01 and $100,000.00, that there be a a no greater increase than 3% to 5%, but that the lesser or greater rate within that income bracket be determined by Congress in the year 2013 specified into the language of the bill."
I would call this above basic proposal as Option Plan A. The intent was that while those with incomes above $100,000 could be returned to current tax rates in a Fourth year of implementation, those earning exactly $100,000 or less a year cannot be so increased under normal circumstances (unless a later Congress scraps the plan).
I now offer a "Pay as you are Able" Option Plan B as an alternative if the RNC and TEA Party dislikes the above.
In both plans, I retain the Internal Revenue Service, and allow it to be streamlined to 2008 or lower personnel levels.
Under my plan, you can not take more than 4 (that's four) $5,000 deductions. Non-profit donations of $5,000 and up will count simply as $5,000 with a non-profit organization receipt. No more than 4 dependents may be applied to income. If you have 5 dependents, you may only claim 4. If you have 4 dependents and give over $5,000 to your non-profit Church or Synagogue or registered non-profit charity, you may claim only 4 exemptions, for a total of $20,000 maximum payable adjusted income reported reduction. There will be no other major deductions in this tax plan. There will of course be the retention of various business exemptions such as being paid IRS miles rate, such as at 51 cents a mile, that will not be reported as income that will remain in place. Because of the specifics that can be involved, I need an Internal Revenue Service to make these Plans workable. The top dollar rate is rounded down in each category.
INCOME TAX RATE
18,000 - 24,999 1% $180 - 249
25,000 - 29,999 2% $500 - 599
30,000 - 39,999 3% $900 - 1199
40,000 - 49,999 4% $1600 - 1999
50,000 - 59,999 5% etc.
60,000 - 69,999 6%
70,000 - 79,999 7%
80,000 - 89,999 8%
90,000 - 99,999 9%
100,000 - 139,999 10%
140,000 - 179,999 11%
180,000 - 219,999 12%
220,000 - 299,999 13%
300,000 - 399,999 14%
400,000 - 499,999 15%
500,000 - 599,999 16%
600,000 - 699,999 17%
700,000 - 799,999 18%
800,000 - 899,999 19%
900,000 - 999,999 20%
1,000,000 - 1,999,999 24%
2,000,000 - 2,999,999 25%
3,000,000 - 3,999,999 26%
4,000,000 - 4,999,999 27%
5,000,000 - 5,999,999 28%
6,000,000 - 6,999,999 29%
7,000,000 - 7,999,999 30%
8,000,000 - 8,999,999 31%
9,000,000 - 9,999,999 32%
10,000,000 - 49,999,999 35%
50,000,000 - 99,999,999 40%
100,000,000 - 249,999,999 45%
250,000,000 + 50%
We should accompany this tax rate plan with:
1) a call for a Smaller and more efficient Federal Government Workforce (exempting the Military);
2) a faster means to cut through Bureaucracy at all levels;
3) a removal of pork spending altogether
4) a reduction of all US Federal pensions to no greater than $60,000 a year effective immediately (with only the Presidency as the exception -- see #6 below)
5) a removal of all Congressional pensions to those with less than 20 years service
6) a reduction of Federal wages to a cap of $120,000 including the US Presidency (which alone will have a wage and then effective immediately pension of $120,000 annum plus the usual Secret Service protection upon completion of term); and
7) a freeze on Federal pay-scales of all employees for at least the next 3 years.
If Congress cannot live on a $120,000 a year income, they need to move to a smaller house and live more respectably or get out of Congress; because if they are so unworthy as to be able to live within those means, they have no business making budgets for the rest of the Country.
This is my plan. I hope the Presidential Candidates will use it. Even Herman Cain is welcome to it, even though I at this time very much prefer
Michele Bachmann and Newt Gingrich
as my choice for President and Vice-President. -- Brianroy
[ October 28, 2011 - The Corporate tax rate was intentionally left out above, because my Primary contention was with the Individual Tax Rate and that there be no National Sales Tax created at Point of Purchase, etc.
The Corporate Tax Rate I would propose is 12.5% for businesses under $250,000,000 annual sales, and 15% for those above. There would be a 2.5% penalty for exporting US jobs overseas, and a 2.5% reward incentive for taking overseas jobs and investing them here in America with US workers. This worker re-investment credit would obligate the employer to create an average workweek of 36 hours per week for 50 weeks of the year. There would also be another 2.5% start-up credit for three years if the labor investment exceeds 10% of the labor force of the company being invested within any or a combination of the 50 States of the United States of America. In other words, an International US Company with 100,000 employees world-wide with 50,000 overseas jobs, relocates 10,000 overseas jobs back into the USA gets a 2.5% additional tax-rate deduction for three years as long as they keep and maintain the same or greater labor force in the US at the new employment rate (by example now 60,000 in the above example) during the entirety of each year for up to three years, and by keeping the hours of those employees at 36 hours a week for at least 50 weeks a year, the tax rate will be 10% for a $250,000,000+ annual sales company, and 7.5% for those companies with less than $250,000,000 annual sales.
This tax rate can drop even further by an additional 2.5% by being in the "endangered industries" list. Manufacturing, textile, steel mills, and certain other industries would be subject to an additional tax rate cut of 2.5% for up to 5 years, but only if the starting wages are $14.00 an hour or above (tentative wage number at this point) and maintained.
Most all other business deductions will dissipate, except for EPA compliance, and a Reagan Era deregulation of unnecessary regulations will also need to accompany this Corporate Tax Plan as well. For example, Congress will have to rewrite the laws as to the intensity and length and costs of environmental impact reports in regard to Federal Land leases, so that start-up can be in as little as 30 - 45 days from submission for approval to approval under a tiered inspection, interested parties and impact report system.
I hope this covers the Corporate Tax question. Thanks.]
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