Tax Code Changes

I am writing today to update everyone on the new tax code changes that are being kicked around in the U.S. Congress and by the President which are going to significantly effect everyone in America. Let us start out with how this new proposal will work at it's present bill state without admendements as it is a giant step in taxing corporate America into a higher bracket by adding another 22 percent tax hike to every American business. While not addressing the real issue of government spending gone way out of control in the matter of way to many programs that do nothing except spend tax dollars that are wasted on them. For my readers you can look for the combined income tax rate for personal income tax is according to the now sponsored bill going down by 12 percent in the next year but if your the employer your going to feel the pain of a giant tax increase. This kind of taxation is going to chill the economy and with the allready high unemployment rate at 9.1 percent employers are going to seek to not hire any more new workers for the immediate future until government gets it's act together on controlling spending. If you tax the rich who all make over a million dollars which is also a new proposal then what will ahppen is the loss of blue collar sector jobs that make the goods and services that the rich people buy which is nuts to do that. Of course some tax on wealthy people  is good but not to tax them at 43 percent of their income is just not going to help the economy in America get out of the very serious hole that it is in presently. If you tax corporate America into a position of nearly failure on the bottom line then you will see the back lash over it in the banking and every other critical part of the economy. WHY? Well that is eay to answer in that big and small companies combined are more likely to look overseas to continue in business since tax codes in most european countries like Sweden favor American investment. So the the next thing that will happen is a sucking sound of more current jobs and companies moving their operations over to europe and malaysia which will hurt more deeply here in a worse recession in America economy. By shifting jobs over seas which will happen with the new tax code structure you will have less investment and innovation in America combined with more unemployment plus more need to spend money on government social programs in order to support the people who are effected by it. It results in a losing scenario that will push America into a more difficult phase of government growth and less private sector jobs combined with little to no investment here at home in our economy. You can only think back a few years to when Steve Forbes proposed the flat tax and bingo card tax form on how easy it would be to to get America back on a solid financial footing but sadly it failed to gain the much nedded support in Congress and the White House at the time. It really is part of the solution that both Steve Forbes and Ross Poreout combined came up with that would begin to fix our tax code and all the financial mess.