"Clown Prince" obama has been whining--at least for the past four years--about ridiculous tax increases. Ridiculous, because of the dismal economic performance since his immaculation; ridiculous because of the continually upward trajectory of federal spending, again, since the royal immaculation. The 'cheese' with the aforementioned whine would be inclusion of the "taker-class" into the mainstream of American life. They--the "taker-class"--includes roughly 47.6 Million food stamp recipients as well as Cleveland's "obama-Fo" lady. Inclusion would allow the "taker-class" to participate in the--albeit, dismal--economic ups-and-downs of the governance of the country.
Here's the plan: Rather than "Clown Prince" obama's plan of punishing the success of the "maker-class;" those evil rich guys and gals--in obama's top 1%--who in 2009, paid nearly 37% of all personal income taxes to the U.S. Treasury, my plan includes everyone, 18 years and older! Let's start with the basic premise that government--at every level--has no money that was not first TAKEN from an individual, a business or some other trade action, through the confiscatory tax system. Then we have all those who pay confiscated funds into the treasury:
- The top 1%: paid 36.73% of their income, and
- The top 5%: paid 58.66% of their income, and
- The top 10%: paid 70.47% of their income, and
- The top 25%: paid 87.30% of their income, and
- The top 50%: paid 97.75% of their income, and
- The BOTTOM 50%: paid 2.25% of their income
The "taker-class" are those souls who:
- enjoy low-interest student loans;
- enjoy various government educational grants;
- enjoy low-interest refi home mortgages;
- enjoy federal subsidies to purchase desired auto models;
- enjoy welfare benefits;
- enjoy Medicaid benefits;
- enjoy federal heating assistance benefits;
- enjoy federal multi-year unemployment benefits;
- enjoy Department of Agriculture food giveaways;
- enjoy the free "obama-Fo" benefits,
For these 28.8 million souls to have a feeling of inclusion, my plan would assess a $50.00 annual tax for each benefit enjoyed. As an example: If a student is receiving low-interest student loans and federal educational grants and welfare benefits and Medicaid benefits, that student would owe a total, annual federal tax of $200.00, over-and-above any tax they've been assessed through actual employment. With the assumption that each "taker" enjoys an average of three benefits (at $50-per), those souls would be contributing over $4.32 billion to the federal treasury, and enjoy the feeling of helping to support "Clown Prince" obama's socio-fascist deficit spending schemes!! Obviously, 'enjoyment' is the right word: they voted for all the free-stuff that obama used as payment for said vote!!
Now for the travesty of the Earned Income Tax Credit (EITC)!
Dozens of examples of fraud have been uncovered in which the IRS has paid over One-Million-Dollars to a single taxpayer. The worst is a U.S. taxpayer who claimed 27 dependents (all of whom resided in MEXICO and included neices, nephews and cousins!) and was allowed an EITC of $1.4 million. Continuing my proposal, all previous EITCs would be allowed, but only to reduce the taxpayer's liability to ZERO; no one would 'profit' by claiming dozens of fictitous 'dependents.'
In 2009, the report:
The Earned Income Tax Credit and Illegal Immigration: A Study in Fraud, Abuse and Liberal Activism
by Edwin Rubenstein was released and from which I quote:
- "The Earned Income Tax Credit (EITC) is the largest anti-poverty program in the United States--and the most illegal-immigrant friendly. In 2007, more than 23 million households received more than $47 billion in the EITC payments."
- "Between one-quarter and one-third of all EITC clais were 'improperly paid' according to the General Accounting Office. The EITC--like most of the tax code--operates on the honor system. This is very difrferent from welfare and food stamps where applicantsw are interviewed and required to present proof of eligibility."
The best solution to the built-in fraud is a national sales tax on the purchase of all NEW items--but only after the current tax code is completely SCRAPPED!! But.... that's a discussion for another day!