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Monday, April 19, 2010

The hoods are at it again.  O-buma and the Congressional Theftocrats are continuing to rape, pillage, and plunder the nation.  First, they stole one sixth of the nation's GDP by nationalizing the health care industry because those businesses committed the egregious crime of making a 3.4% profit.  Now they are using the contrived excuse that the financial mess they caused with the Communist Redistribution Act--this is a primary cause of the recent economic meltdown--justifies stealing the nation's financial sector of the US economy.

Speaking of stealing, if the Theftocrats want to institute a national sales tax (VAT) why not repeal the sixteenth amendment to the Constitution and eliminate federal income taxes?  Opponents of the VAT claim that it places a greater burden on people who have lower incomes.  Does the formula that justifies that argument take into account these forms of revenue and tax benefits?
  • cost free housing and utilities
  • cost free food
  • welfare healthcare
  • no federal income tax
  • (un)earned income tax credit federal welfare check
A cost free four bedroom apartment including utilities can be worth thirty to forty thousand dollars a year.  Free food benefits from SNAP for a single parent and four TANF recipients is about $9500 per year.  The costs to taxpayers for welfare healthcare are virtually unlimited.  Federal income tax rates for the highest levels are about 40%; add another 15% combined taxes for social security and the benefits of riding in the federal wagon are clear.  With an additional $5500 from the unearned income tax credit program, a single parent with four TANF recipients can receive over $50,000 of unearned and untaxed revenue, goods and services, and in kind contributions that someone else produced.

To make the claim that sales taxes are regressive is to ignore significant amounts of untaxed revenue.  The argument is dissembling based upon specious reasoning.

May your gods be with you.

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