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September 19, 2011

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Paul

The concept of re-taxing the financial sector is a valid step towards righting the listing ship-of-state. We would be also in favor of re-applying the Florida Intangible tax that Jebby Bush jettisoned during his tenure!

However, we would love to see a Congressional Hot-Air tax which would be applied to words used to address either the Senate or House! ( 5 cents per?) Let it fund the homeless!

Next, let the Democratically-controlled Senate pass a resolution of censure condemning Grover Norquist as an "enemy of the state..."

Midnight Owl

If fairness is your bag, especially punishing those that got us into this mess in the first place, one suggests you start with the enablers such as Alan Greenspan, the myopic Fed. Chairman, who failed to see all the excess condos and homes being built in Hallandale, Sunny Isles, California, Nevada , Arizona, and stupidly left interest rates at such low levels, that chimps could buy $800,000 condos. He, who basked in the glow of congressional approval, of all his wayward policies, and said everything was going smoothly. Then go to Barney Frank and Chris Dodd, who wanted the underclass to get an opportunity to buy a home, which encouraged, no down payment, and no payments for the first year, and yes we'll throw in some furniture also. Our legislators were greedy for votes, Wall Street was greedy for , what else, money, only the former has the law on their side, and are like vultures, who come in when all the carcasses of financial ruin are on the ground, and feast on the remains. Yes punish Wall Street, mortgage brokers, bankers, for the sub-prime mess,tax them, if you want, but is there something in the bible that talks about personal responsibility (on the part of the public) and FAIRNESS spread around??? Punish who??? By the way, if clueless Obama had focused on jobs first, ( in January of 2009, when the financial world was crumbling) instead of the healthcare program, maybe this discussion would not have been necessary

Donald

Fortunately, there is no law against that or this or any particular sort of thing called political belief. I don't have time to debunk all of your topics. Just a couple.

The IRS has stated that there are 230,000 US taxpayers who claim earnings in excess of one million USD ($1,000,000.00) per year. If you were to tax an additional one million from each of those 230,000 millionaires the total amount generated would be $230,000,000,000.00 That is Two Hundred Thirty Billion USD.

If Pres. Obama would agree to cut annual spending across the board by just 1%, we would achieve double that amount. As much as I do agree that the Mega Rich Billionaires should pay more, it is a case of diminishing returns. The more you tax those Mega Rich guys & girls, the more investments they make outside the borders of the good old USA.

Our federal corporate tax is 39.25%. It is the 2nd highest in the world. Japan beat us by a lousy 0.39%.

If you ran a BIG publicly owned company and you do business all over the world, where would you position your HQ's? In Ireland at 12.5% corp tax or the good old US of A at 39.25% ?

However, lets say your BIG company has a profit margin of 9.34% (like GE) on $170 billion in revenue (like GE) and your BIG company HQ's was in the USA therefore your BIG company should have paid about $16 billion in corporate taxes. But if you are the CEO (like GE's Immelt) who moves your aircraft division to China (along with 20,000 jobs) and your electronics division to Mexico (along with 5,000 jobs) and your software division to Ireland (along with just 3,500 jobs) and your IT division to Switzerland (along with 1500 jobs) and lo & behold you wave your magic wand and your BIG company has ZERO corporate tax for 2010. ZERO, ZIP, NADA, NOTHING, OoFah !!

And then as recognition of the great job you are doing for your BIG company by moving 30,000 US jobs overseas, and paying zero corporate taxes, you are appointed the honored cabinet title of "Jobs Czar " by President Obama.

Does that make any sense at all? The guy whose company has multiple union contracts - screwed his union employees, screwed the USA out of billions in tax revenue, and built giant factories everywhere but in the USA and he is Obama's "JOBS CZAR" !

and by the way - Would you sign a contract before you read it? Thats what our president wants congress to do on his Jobs Bill.

Finally - I know you have stated that he is a strong supporter of Israel, but i don't see it - to my understanding - Obama ain't been to friendly to Israel, and in general, to us Jews.

Every day is a beautiful day, enjoy it!

Alan Weiss

A great idea. I think there should be transaction taxes on horse racing tickets, lottery tickets and etc...

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