I want to know how he's going to pay for it all. Seems to be he's big on ideas and short on economics 101.
http://www.sailnet.com/forums/showth...218#post267218
Oh, I, know how, wishes and dreams, and most of all 'Change" - that's a lot more than spare change, and from who's pocket?
Here's one way:
Simplify Tax Filings for Middle Class Americans: The Internal Revenue Service (IRS) estimated in 2004 that it took more than 28 hours for an individual to complete his/her tax filing, and that half of the taxpayers
filing the “easy” forms ended up paying a tax preparer to do it for them. Barack Obama will dramatically
simplify tax filings so that millions of Americans will be able to do their taxes in less than 5 minutes.
Currently, the IRS receives Americans’ financial information directly from employers and banks. Obama will ensure that the IRS uses this information to give taxpayers the option of a pre-filled tax forms to verify, sign and
return to the IRS or online. This will eliminate the need for Americans to hire expensive tax preparers and to gather information that the federal government already has on file. Experts estimate that the Obama proposal
will save Americans up to 200 million total hours of work and aggravation and up to $2 billion in tax preparer fees.
In short, by putting H&R block out of business, ensuring folks don't file long form and get refunds anymore. BTW , the 28 hour thing is because folks can't sign their names I guess - it took ME only 6 hours to do my taxes - long form and rather involved due to all the crap I do.
Do we really want Uncle Sam to be in the business of telling us how much we owe?
Wait, maybe he'll fund it with the extra taxes business will send in after he mandates every employee get 7 sick days a year; because that will seriously raise the productivity of employees and lower the cost. Think what that will do to the profit line
.
Somebody please tell me why the federal goverment should pay 10% of the mortgage interest payment for idiots who signed a bad deal, and really explain in detail how paying 10% as a refundable tax credit will help Joe Stupid to pay the mortgage in July, August, etc..Waiting until tax refund time doesn't make most banks happy.
Of course he will also "restore fairness to the tax code" by "completely eliminate(ing) income taxes for 10 million Americans"
This isn't SA, so I'll moderate my language
HOW THE F DOES THAT IMPLY FAIRNESS!!!
Fair is we all pair our fair share. If you make 20k a year working a 40 hour week and pay nothing and I make 200k working a 60 hour week a year and pay 50k, is that fair????? I worked hard and long to get where I am from the trailer court I grew up in. F that!
I really like the way politicians do this crap of "I will invest X dollars over 10 years...."
A) they are in office for 4, maybe 8 - what's the 10 year thing? If they are really lucky they can get a plan through in a year, so really they have 3 years..
Oh, wait, we'll back end load it, so my successor has to pay for it - somehow - or clean it up
B) they never say how they will pay for it.
He's got a lot of social engineering here that is going to cost, cost, cost and not one identified revenue source - and don't say the economy will improve because the businesses he's saying will improve are the same ones that can't show a profit to expand with if saddled with the cost he's adding.
He's got some nice things to do with consumer protection issues, but the PAC's will soon weigh in and eliminate them or water them down.