Re: Obama's State of the Union address
posted at 2/11/2013 3:48 PM EST
In response to UserName99's comment:
What we need, and I wish the President would come out for in a BIG WAY, is a dramatic restructuring of the tax code intended to address the real-world dynamics of globalism - one of which is the fact that many high-net worth individuals, whether they are management or investors, clearly feel greater loyalty to their bank accounts than they do to their fellow Americans. If we wish to remain one nation for much longer, this cannot be allowed to continue.
What is needed is a nationalistic tax code - a code that treats income earned while employing hard-working Americans in a much more favorable fashion than income earned any other way. This approach would almost certainly involve lowering tax rates for business physically done in America (as is almost all commerce conducted by small business) - while retaining current corporate rates for commerce conducted outside of the country. It would implement truly draconian penalties for companies and individuals who attempt to game this new tax system by fraudulently claiming this new "enterprise" rate. It time to wrap the Stars and Stripes around the American worker again and take pride in 'Made in America'.
I would also favor completely doing away with the myriad tax breaks, deductions, exemptions, etc.,
Just have a few brackets but otherwise flat tax.
I don't care if the numbers they pick cause me to pay more. Our tax code is an enema wrapped in a nightmare wrapped in something else unpleasant.
On top of that, another massive thing that needs to be done is full re-write of the APA. This act was designed to instill fairness by requiring layer after layer of review, rule-writing, etc.
I would rather have a far more efficient and less expensive federal bureacracy even if it meant more potential for corruption. The price for less corruption has been too great: A sluggish behemoth that simply can't act when it needs to. Layers of review and bidding and whatnot that result in a laptop costing government 10 times what it costs you or me. A veritable shooting range for special interest groups who want to derail projects they personally don't like on fatuous claims of insufficient review.
It's a huge problem.
That said, I am not watching the State of the Union. Like most political speeches it's just going to be a load of feel-good but ultimately empty rhetoric.
"We must strengthen our economy...."
Yeah, ok sherlock...
How about laying out specific detailed measures and an explanation for why they will work? Fat chance.