LET THEM PAY THEIR FAIR SHARE.

That should be made law of the nation.

Mitt Romney happens to be one of those with hearing impairment. They listen to President Barack Obama all the time, but they can hardly hear him.

He, Obama, has been saying all along that he would never go back to the old system of economics that has brought the nation to where it was now. His plan to use regulations to keep money in the United States was not fully in process; and that was what the Capitalists feared most.

Why? The simple answer was that they would be forced to pay their fair share in taxes, which has never happened before.

In other words, Obama's plan would completely overturn the old system of free capitalist market operations, with very little or no restrictions; and with hiding profits of billions, if not trillions of dollars by banks, corporations and big businesses. That practice would come to an end.

Such a revolution has never happened before; but if it was allowed to take place, there would be more millionaires and billionaires losing much of their fortunes, in the form of taxes, to benefit the country as a whole.

The economy would be better off, as job creation would be easy for businesses to hire more people, and thus lower the high unemployment rate even more.

The low employment figures that Mitt Romney and his ilk were making so much noise about would disappear. The reason for them (low figures) was that hordes of capital investments were sitting idle in bank vaults, for fear of their owners paying taxes on them.

Now that everybody knew what the wealthy was afraid of, which was sheer "taxes", those enormous amounts would be forced out into circulation, only by laws brought in place by the government.

Investors did not want all that money occupying space for nothing, and they would be inclined to use it, for what? More profit; and that would open the gates for big and small companies to hire, as well as individuals acquiring loans to expand and improve their businesses, and even start new ones.

The old way was to hide capital investments; and that could cause economic recessions and depressions; while the new way would prevent investment companies to hold off the invigoration of the economy, and that could only be done by government regulations.

It (new system) was what Mitt Romney and company, like John Sununu and Charles Krauthammer, were quivering about, due to nothing, but selfish attitudes of greedy capitalists that they were.

That was the "change" that should come about, for the middle class and ordinary working people to make use of the slew of opportunities that would become available in that kind of circumstance for them to raise their standard of living.

Mitt Romney has been saying that he would not tax anyone. Yea; sure. However, shouldn't the public remember what Leona Helmsley, the Billionaire real estate and the notorious "queen of mean" once said, that, "We don't pay taxes. Only little people pay taxes,"

For the sake of the nation, someone has to pay the taxes, Mitt Romney.

Many people were not getting employers to hire them, because they could not produce at least two years of income tax returns. Yet, he (Romney), has been evading taxes for a decade, and he would not reveal his past tax returns (as if there were any), but he would want to become president. WHAT?

Let the voters have their final say on November 6th, 2012; election day. They couldn't wait.

Comments 3 comments

Wayne Brown profile image

Wayne Brown 4 years ago from Texas

Your assumptions are flawed as they assume that is the only change Obama would make. Obama would totally wreck the capitalist market if he thought that he could get away with it. As it is, he is growing government and the regulation it sprouts by leaps and bounds adding more and more to the debt burden. Gaining what you describe as a "fair share" from the wealthier crowd will not produce enough additional revenue to scratch the national debt or the annual deficit. All it will do is inspire those in Washington to continue dreaming up more welfare subsidy plans to further burden the existing taxpayers. Economies flourish because the business which make them up make a profit and thus grow. When you tax the profits right out of the business, because the do come off the bottom line, the that cost either has to be paid by stockholders or passed on to the consumer. Higher prices depress economic growth not stimulate it. After some period of time in which no one is growing but the government people start giving up, jobs disappear as the businesses drop out and more and more people move to that side of the line where no one produces anything because there is nothing in it for them. That in a nutshell is Obama's dream as the people turn to their only hope...the government for their subsistence. Ultimately those needs are traded for freedoms and liberties and are lost over time. You really think Obama gained some insight into how to stimulate a capitalist economy by reading Saul Alinsky and praying with Jeramiah Wright? WB


owurakwasip 4 years ago Author

Hi Wayne Brown,

Corporations, investment banks and big companies report heavy incomes each year (after capital gains for stockholders), and the rest is pure profit.

They can only reinvest part of that, with the remainder sitting in bank vaults, tax free. Regulations will change all that for the government to have extra revenue for vital developments; such as new hospitals, research for cure to deal with serious diseases, education; and most of all, for the development of the infrastructure, of which the United States is behind, compared with other developed countries.

Airports will be upgraded, and Air-control systems will be updated to have new technologies for safer air flights, and security will be made more effective, etc., etc. All these developments are needed for all citizens.

It is true that taxes from the "wealthier crowd" will not make a dent in the National debt; but how about revenues from profits of American companies operating overseas? These corporate profits are huge, and with a new tax code or tax system, taxes on them (profits) will reduce the enormous deficit that the government faces year after year for national security and defense (military).

Any overage will go a long way to bring down or completely eradicate the National debt.

That is the financial change or transformation Obama has been talking about all these years. The country needs it.

Former president Bill Clinton's financial deregulation has produced a surplus; but these are different times. With the new Obama plan, there will be enough extra funds to take care of Social Security, Medicare and other requisite (entitlement) programs for the disadvantaged. On the whole, the country can be debt free from that plan.

Saul Alinsky's or Jeremiah Wright's influence cannot be what is driving Obama's life now.

As president, he has come to see the financial reality the country is in. The challenges are too many; and so, he has to device a different approach to deal with them. However, he requires everybody's help to succeed.


ib radmasters profile image

ib radmasters 4 years ago from Southern California

Owurakwasip

The only fair system of taxes would be to get rid of the Income Tax System along with its IRS and the Internal Revenue Code.

Both parties have contributed to the IRC, and its contents can only be used by the rich. The poor don't pay taxes, the rich can use the IRC to get around taxes. The middle class is the only one that is really prey to the income tax.

There is no need to have higher rates for the rich. That just gives them an incentive to avoid their taxes. The middle class can't use the IRC because they make their income from wages.

A National Sales Tax similar to those in many states would be less invasive and money received quicker and without the labor intensive IRS to handle it.

This NST is different than the flat tax because the tax rate would be 10 to 12% and not 23%. There would be no residual refunds in the NST. Any necessities would not be taxed period.

This is the computer age, and it would be easily programmed into the business systems.

The tax would be fair, and even though the tax rate is the same the tax on large ticket items from the rich would be larger than those from the middle class. Yes, the rich might try to avoid these taxes, but there are already mechanisms in place to catch them.

As for Obama and his plan, you have to ask why didn't he do that four years ago?

The US government is too obese to be effective, and every government employee is a tax liability. Even since 2008, the size and scope of the federal government has increased.

Obama this year has been too busy campaigning to do anything for the country. He has over 175 fundraisers, over 100 games of golf, and numerous campaign trips. These trips are for his personal benefit, and not the benefit of the country.

He would have a better chance at being reelected if he would have spent his time trying to help the country, instead of himself.

He is one the worst US presidents in the last one hundred years.

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