The Wolf Legislation HR 5980 is coming up for vote in the next session, hopefully. The passage of this is critical for all Americans. Please go to this link learn more on the bill from the creator and Director of Project Socrates. http://dailycaller.com/2010/12/06/an-unfinished-legacy-president-reagan-and-the-socrates-project/

Are all these kind of software development team.

Dear Goldwater:  The Tea Party has nothing to do with religion.  They are about Fiscal Responsibility, Free Market and Limited Government.  And to the “ghost”, you sound like the typical Liberal, just ranting, because you can’t compete in the arena of ideas.  Tax cuts work every time they’ve been tried:  Kennedy, Reagen, and Bush II.  Now, if we can get the folks in DC (with an 11% approval rating) to stop spending OUR money…...

I completely agree on the balanced budget amendment.  As someone under 30, I’ve realized I am essentially screwed for a long time now unless major changes take place.  Unfortunately,neither party seems ready to do what is necessary and the only thing that gets people in Congress off the butts is a crisis.  The Chinese money is going to have to get cut off or the US will have to default on some of its debt to wake people up.  Until then, we have huge entitlement programs, huge military budgets, and “deficits don’t matter”.

Unfortunately, so many Americans are absolutely clueless about the impending disaster that the parties don’t even need to address it.  Self-serving constituents = self-serving politicians.

No, I can’t vote “Tea Party” as I am pretty much convinced they would attempt to turn America into a Christian version of Iran.

Barry Goldwater’s Ghost - “There is no sense in arguing with these people.  There are plenty of economists out there who have data that shows that “supply side” economics do not increase revenue.”

Obviously Keynesian Economics isn’t working either. lol What happen to that $800/billions we borrowed from the Chinese to cure our 10% Unemployment rate? Where are all those jobs in the green economy?

I believe that “We The People” are best able to spend our money more effectively in the economy to get it going again, than having Government tax away our money so they can pick and choose where it should be spent in the economy. While at the same time running up the national debt so that our children are left to repay the interest after this generation is dead and gone.

What we really need in America is a 28th Amendment to the Constitution which says, “The Federal Government MUST have a balanced budget every year with exceptions for War or Natural Disaster.”

Until we stop running a yearly deficit, we will keep on borrowing until we are bankrupt. America is not immune to economic collapse. Just ask the Soviet Union, Iceland, Japan, Argentina, and my favorite, Rome.

And just wait. When $70,000,000/million baby boomers retire over the next decade, we will really be in a world of hurt. Least you forget, when boomers retire, they stop drawing paychecks. So there goes government revenue from half of the workforce. At the save time, they’ll all be holding out their hands for Social Security checks and Medicare benefits. And since the left setup that whole entitlement program as a “Pay As You Go” system, there won’t be enough bread winners to cover all the bread eaters. Next thing you know, taxes have to increase to cover the nation’s expenses and its debt obligations.

If you ask me, America’s on life support and bankruptcy is on the horizon. Make sure your retirement account doesn’t have any Government Bonds in it.

There is no sense in arguing with these people.  There are plenty of economists out there who have data that shows that “supply side” economics do not increase revenue.  People like Alby will just dismiss it as liberal bias.  I won’t even bother posting any of them.  I will note that the only place to easily find “studies” supporting Reaganomics is the “Heritage Foundation”.  It might as well be from the Glenn Beck WPGC Morning Zoo Center for Economics.

Unfortunately we won’t be able to start fixing these country until the people who drank the Reagan kool-aid in the 80’s either get an education or die off.  Seeing as though today’s GOP and in particular the “Tea Party” view educated people as the “liberal elite” and scoff at the idea of a scholar knowing anything that may fix our country’s woes, it looks like option two is the best bet. 

I agree, Obama, Reid, and Pelosi aren’t doing anything to fix our problems.  The GOP doesn’t have any ideas either.  Both sides can’t stop spending.  The only difference is that one is actually open to raising taxes to try and pay for it.  The other thinks revenue magically appears and that “deficits don’t matter”.

Employment is a juice to survive and earn for living.

I’m not really an expert, but don’t the last two points of this new legislation violate international patent norms?

Dear GOP creates deficits with wars and tax cuts!!, You are out of your mind.  The Gov’t is taking our Liberty by taking the money WE earn to re-distribute it.  Pretty soon the people who create jobs will no longer show up to pay the bill.  What the heck are you going to do then?  Confidence will sky rocket if you get Harry, Nancy and Barry out of our lives and pocketbooks.

GOP creates deficits with wars and tax cuts!! - “This has to be the dumbest idea I have heard.”

Really?  Lets run the numbers.  $1/Trillion is generated in revenue to the Government from Income Taxes. A 6/month income tax moratorium will deprive the Government of $500/billion dollars, but give We The People $500/billion to spend in the economy.  Yet, the Left seems to be applauding the $819/billion stimulus directed at politically targeted areas (Teachers, Police, Construction) that has don’t nothing to stem the tide of unemployment and economic recovery.

So when you compare both stimulus options which makes more sense? Keep the current taxation in place and pile on an additional $800/billion in debt?  Or suspend the income tax, let the people keep $500/billion from their paychecks to spend over a 6/month period in the economy on everything from Crawfish to Toilet Paper to Hotel rooms? A much broader part of the economy would receive that $500/billion and begin to ramp up production, hiring, and actually “stimulate” an economic recovery.  Much more than spending $800/billion on a few political favorite industries to win over votes in coming elections?

You’ve been drinking too much of that democrat koolaid of how Government can save the world. So far the Government has wasted tax payer money, increased our debt to the world, and returned us with lack luster results of prosperity. All because the current government believes that if the economy is run from the central commissar’s office of WashingtonDC, they can make the world a better place.  I believe that We The People can better spend our money in all the millions of nooks of our economy and reap prosperity if only we could keep more of our salaries.  Nov’2010 will soon determine which type of Government We The People want to lead us into the future.

Good Luck, polls indicate you’ll need plenty of it.

“No Income Taxes will be deducted from anybody’s paycheck for 6 months.”  I can tell you this, I’d be spending that extra money and so would 150/million other American workers.”

This has to be the dumbest idea I have heard.  Lets further go into deeper deficit by giving free money to the people who are worried about jobs and keeping their houses.  We needed confidence in the economy, not free money.  Stimulus should create confidence so people will borrow more. 

How about the GOP become more like real conservatives in Britain and raise taxes on the rich (incredibly popular with the public) and stop the 2 wars that cost billions and billions of dollars a year.  The problem with the GOP is they have not abandoned the policies of George W. Bush. which means they are not conservatives at all.

@Atlas -  Well said. My thoughts exactly. This chart says it all. Only Japan slightly exceeds us in Corporate taxes. Everybody else has a lower tax rate.

http://upload.wikimedia.org/wikipedia/commons/3/36/Income_Taxes_By_Country.svg

What people fail to realize is that taxes are a leech on the economy. If $1.00 is taken in taxes, that is $1.00 less in the economy. Instead, it becomes $1.00 in the Government Economy which in turn dictates where money is spent. Often in places that do nothing to improve the economy. Can we say, “Shovel Ready Stimulus”?  lol

Just imagine the stimulus to the economy if the Government said, “No Income Taxes will be deducted from anybody’s paycheck for 6 months.”  I can tell you this, I’d be spending that extra money and so would 150/million other American workers.

Alby, you see, Sam doesn’t understand how much cash/profit is kept overseas in order to minimize tax liabilities.  It’s all part of the transfer pricing system.  If you lower corporate taxes American corporations, and foreign, will invest there capital here, jobs will be created and taxes will be generated.  It’s not a zero-sum game and they way the CBO scores tax cuts is flawed.  No society in the history of the world ever taxed themselves to prosperity.

But remember the wonderful health care bill is going to reduce all kinds of things and make everything sunshine so they’ll be plenty of money to pay for this, right?  Riiiight.

Wolf wouldn’t blindly go into this without plenty of input from groups like the National Assoc of Manufacturers.  This article does not give all the details but I’m confident he’s done his homework.

Sam - “Does Mr. Wolf have a thought on how to pay for this program of incentives?”

This program is self funding. When American workers get jobs, they pay taxes. As such, the revenue generated from getting 15/million people back to work will cover the tax breaks given to companies that employ them.

This is unlike the bottomless pit of our entitlement programs.

From what I understand the government can’t impose tariffs on industries or countries without facing retribution and counterbalancing penalties from the global economic community and the agencies set up to regulate international commerce.  All we could do is give tax breaks to American firms.  Well, that is NOT deficit neutral and therefore the revenue needs to be recovered somehow.  Does Mr. Wolf have a thought on how to pay for this program of incentives?  I’m guessing like virtually all Republicans he wants to cut taxes on certain companies without paying for those cuts.  This is not a logical position to take unless you propose some other tax increase or spending cuts in some other part of the government.  Enacting this measure will increase the deficit and isn’t that taboo now?

God Bless Congressman Wolf.  I like that idea on the “merits of a major new federal tax incentive to promote repatriation of jobs”. 

I say, companies who offshore work or import H1B labor pay 35%. Companies who keep American workers pay 20%.  I’m sure that incentive would boost domestic US hiring.

That’s why I support Wolf! (happy?  no “e” on the end!)

This country desperately needs to regain a manufacturing base and stop bleeding jobs elsewhere.  And, hopefully, card check will die a fast death and allow business to grow!

Republicans understand business leads to jobs.