Let's get the facts
Hello to all my friends and business associates out there. The time has come to get involved with politics and your future. If you sit back and do nothing, you have no idea what is about to happen to you on January 1, 2013. This is a time for, not just voters to come out, it is a time for "Knowledgeable" voters to come out. A time for knowledgeable voters to contact their congressmen and senators and express their educated factual positions.
If the current stalemate in the House and Senate continues and the President does not offer a new quality plan, all the current tax breaks we have enjoyed the last ten years will expire on December 31, 2012. This will negatively impact all Americans no matter what their income bracket is.
Let's keep in mind that the tax breaks implemented during the Bush Administration brought more money into the US Treasury than anytime before in history. If it were not for the spending extravaganza enjoyed by both the Democrats and Republicans in both houses, we would not be in a deficit position right now. No amount of money is enough, if you are spending like a drunken sailor!
If tax rates are allowed to increase, I can tell you all from my 30 years of experience as a CPA, people WILL NOT SELL, entrepreneurs WILL NOT take RISKS on new ventures, WILL NOT BUY equipment and WILL NOT HIRE people .
If people do not sell or take risks, it doesn’t make any difference if the tax rates are 100%, the Treasury will bring in less money! This is the basic concept why lower taxes bring in more taxes into the Treasury. You show me a capital gain tax rate that goes from 15% to 25%, and I will show you a farmer that doesn’t sell his land or a investor that doesn’t sell his stock. You show me an income tax rate that goes from 35% to 40% or 45% and I will show you a businessman that doesn’t put his house up for collateral in order to start a business, grow profits, buy equipment and hire people. This is not my opinion, I have been in business long enough to see this happen.
We have serious issues facing us; higher taxes, deficit spending, health care legislative penalties, politicians sacrificing our grandchildren’s future for their own political gain and for the sake of getting re-elected by unknowledgeable voters.
It’s time to get educated and learn the facts. Stop believing everything you hear or read from the media, stop listening to opinions from media appointed political strategists – let’s get the facts and vote on the facts!!
