Alan Grayson is my kind of Democrat; a politician who actually wants to do something for ordinary people instead of the military-industrial complex. This bill would exempt the first $35,000 of income ($70,000 for couples) from the clutches of those parasites at the IRS. I myself make less than $30,000 a year, yet I paid several thousand dollars in incomes taxes for last year (not counting the money stolen from me to support the Ponzi scheme called Social "Security"*). With that extra money in my pocket I'd be doing fine, but thanks to the government I'm constantly struggling instead.
Rep. Grayson introduces a bill to cut separate funding for the wars in Iraq and Afghanistan, and uses the money to eliminate federal income taxes on every American's first $35,000 of income. Cosponsors of this bill include Ron Paul, Walter Jones, John Conyers, Lynn Woolsey, and Dennis Kucinich.
*An perfect description of Social Security can be found here at one the Federal government's own websites (SEC):
A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.
Grayson is always an entertaining guest on the various news shows I watch. Who isn't in favor of a tax system like this? I love it.ReplyDelete
This is the hallmark of a populist progressive tax: the first stage is the poverty line, below which no one is taxed. What is done in between is open to debate, but as long as income over about $500,000 is taxed around 90%, I'm happy. Eisenhower was the last president to have taxes structured this way, and it was another Republican (Reagan) who dismantled the system.
Next step: a box to check on your taxes that lets you prevent your contribution from being used in the war.