Soak the Rich??---Me!!!

This Author will not verify that several names have been ascribed to himself since his last Post, but he would like to clarify his position on Taxation. I would first like to establish the fallacy of claims of lack of Investment, if Taxes were raised. Investment stands as the only means by which Individuals and Business can make further Profit from excess funds coming to them from Labor or Business operation. Investment will exist, and at the same equivalent levels, no matter what the Tax rates are set at. Economists will claim Investors will Consume more than investing with higher Tax rates; here is the essential fallacy, as Consumption is beneficial for the Profits of existent Business operations, and impels Businesses to increase Productivity levels and hire additional labor. Business will benefit, no matter how the Funds are allocated. Suppression of Tax rates aid only in building individual wealth, whether by Households, Partnerships, or Corporations. Any Economy with the prerequisite financial institutions need not fear any loss of Capital aggregation. The United States has the absolute least threat to Capital aggregation of any nation in the World.

I will next turn to the steps by which I would reintroduce Taxation in it’s proper form to this Country (here is where you can be glad I am only a blogger, who can be left unread). The Steps necessary to limit Government Costs as well as introduce genuine Taxation are simple, with little alteration of law, or with little Paperwork in legal definition or Collections procedure. Here is my List:

1) No Investment Tax Credits, or the total accreditation of such Investment credits, will exceed $10,000 per Taxpayer, $20,000 per Joint Return, or $50,000 per Business, Partnership, or Corporation per year. Standard Tax rates will be implemented against the rest of all Income.

2) Any established Foundations must pay at least 50% of the applicable Inheritance tax normally associated with the death of an Individual, when the Benefactor of said bequeath dies.

3) Any Charity which employs a Fund-Raising staff consuming over 20% of total Contributions gathered by such Charity, must pay all requisite Taxes associated by such Business of such total Income.

4) Patent Rights are a convention to incite Research and Development, but the nature of Patent Rights are the prerogative of the Issuing Agent. American Patent Rights will be altered so as to not exceed 10% of the actual Production Cost of the Product or Service. All Patent Rights will be grandfathered at the previous issuance, but no such Patent will exceed 16 years in duration from passage of the new Patent law; future Patents will be for 100 years but receiving the stipulated award, while renewed Copyrights will conform to the stipulated awards.

5) All Contractors receiving Public payments or Funding (including all Health Care Providers) are forbidden to utilize Sector Accounting, or subdivision of Profits except through the umbrella parent organization, who must list and account for all such awards before they receive any payment of Service Costs by any Government agency. Bonuses must never exceed 16% of total Labor Costs on any Government contract by law. lgl