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Discussion Starter #1
With this WE could decide how/WHERE the money should be spent. This would help ALL that pay taxes, SS, Medicare, Income,,,,30%+ raise for 2 months,,,,catch up on your mortgage,,,,buy a new car,,,,make people REALIZE just how MUCH they DON"T get because of the IRS....

BUT what it won't do directly,,,,help those in congress getting kickbacks from those getting the bucks,,,,NO control by the UNETHICAL in congress who want to take over the banking industry,,,,let Paulson control ALL this money,,,,let banks buyout competetion with OUR dollars,,,,plus some others that I can't think of or don't know of yet....

Good idea????

Here is the rundown,,,,

Convert Paulson’s Last $350 Billion

into Tax Holiday, says U.S. Congressman

"Billions of Dollars for Taxpayers, but Not One More Penny for Executive Bailouts"

WASHINGTON, D.C. - As millions of Americans are hoping to maximize their holiday shopping budgets on today's Black Friday bargains, one U.S. Congressman is fighting to prevent more outrageous spending sprees by Washington with taxpayer dollars going to executive cronies.

With $350 billion of the $700 billion bailout still available to Paulson pending Congressional approval, a conservative Texas lawmaker is proposing to put that money towards a tax holiday from both personal income tax and FICA tax for Americans during January and February of 2009.

He stated, "By instating a temporary tax holiday, we could electrify the American economy and provide overwhelming relief to taxpayers, all for less than the cost of the current failed Paulson-Pelosi bailout system."

"We need to give this money to the people who earned it. I am sick of Washington millionaires trying to decide which of their cronies should get the next wad of taxpayer money," Rep. Louie Gohmert continued. "Think about how much you would have if you didn't have any social security or income tax withheld from your pay check, or if you didn't have to pay those taxes for January and February! Americans could take and invest their own money where they believe it should go - to paying down mortgages, buying a new car, making credit card payments. The economy would get relief where it is needed the most. Why try to decide how to prevent foreclosures? Just give taxpayers their own money to catch up on their payments. Those in lower income brackets who are hit the hardest by the FICA tax would see huge money back, and then THEY could choose who should benefit from their hard earned money. Even the self-employed and small business owners would receive a fantastic amount of their own much-needed money, and they will be able to invest that back into their businesses and even create the ability to hire more people.”

Gohmert is currently preparing a bill to declare the tax holiday for January and February of 2009 and is also gathering support at the same time. He said, “We can save more home mortgages, increase employment, and boost economic growth for a lower price tag with this plan than with any centralized bureaucratic program, all by giving the power back to the taxpayers. I am demanding that not another penny goes to executive bailouts, but these billions of taxpayer dollars should go to the taxpayers who earned them."

According to American Solutions, a conservative think tank founded by former Speaker of the House Newt Gingrich, Americans pay $101.6 billion per month in personal income tax and $65.6 billion per month in FICA tax. Under Gohmert's proposed plan, all of these taxes would not be paid during January and February of 2009, and the money would stay in the hands of American taxpayers - the ones who best know where economic stimulus should be targeted. Gohmert's two month tax holiday would stimulate the economy while costing less than the remainder of the Paulson-Pelosi bailout plan.

Rep. Louie Gohmert (TX-01) has also recently proposed returning all 2008 income taxes to American taxpayers as a solution to boost the ailing economy, as he believes taxpayers, rather than the government, should be using their hard-earned money to choose the economy's winners and losers.

If you'd like to support Rep. Gohmert's plan and tell Congress to put an end to the government's excessive bailouts, sign the online petition at RedState.com by clicking HERE, or paste https://redstate.kimbia.com/taxholiday into your web browser.
 

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I've been hearing about this all week. I'm a little skeptical when it comes to these things. Is this really going to be tax free money? So when it comes W2 time in 2010 are just March - December wages reflected?

Will bonuses be deferred from Dec to Jan to take advantage of the Tax Holiday?

Maybe somewhere in the wording of the bill there is a clause to have this apply to regular wages only.

I doubt the Dems will go for this, because it only applies to people that work thus mucking up their redistribution of wealth plans.
 

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I agree with Tom, people that have no jobs, won't get anything to help with bills.


tony
 

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Discussion Starter #4
People not working won't get anything of the $350 billion either.....
 

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I've campaigned for years to simply eliminate ALL witholding. You still owe the money...but your employer pays you the entire amount you earned. YOU are responsible for writing a quarterly check to the government for taxes,FICA,the ins. company premium, the union dues, whatever. Once every WORKER saw how big those checks are...there would be a LOT of folks saying Whoa Nelly..!!! Let's take another look at what we're spending here...!! You'd pay the same amounts as are taken from you now...your NET stays the same. After a while,NET retained would start going up because a LOT of the working men and women would simply not be willing to keep funding all the crap that we are currently paying for. NOW...That's change we can believe in..!!
 

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Another thought, before Regan became Pres. the interest on credit cards & the interest on car loans was deductible. Make them deductible again. Try it, it wouldn't hurt & it sure could help.

Lou
 

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Mr. Steele,

I am so glad to hear that someone, other than myself, is promoting the perfect solution to gaining active citizen participation and sustained action against the Beltway Pirates. I have repeated the same idea you present here, for 25 years. I do it every time I sign 45 pay checks, twice a month. I hate being an indentured, confiscatory agent of this corrupt government (aka responsible employer).

This, personal-pay solution and mandatory national term limits for all government employees should be common sense. But, then again, who's sense is common? (other than your's and mine). lol

Kip
 

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Kip,
It appears you and I share a lot of common experience. I began to see this solution in the early 1980's. I was plant manager for a small family held company in Ohio. One payday, as I was handing out the checks, I got into a conversation with several of my employees about how much they had made that week. Their TOTAL focus was on "The Bottom Line"...after all they reasoned...that was all they had to take home and pay bills, etc. WRONG...!!! I told them...Your pay is this TOP number....the BIG one...before all them "Ducts".
If you're upset about the diffference between those two numbers...GET INVOLVED..!! Contact your Representatives in Washington, and Columbus I told them...and Scream ENOUGH...!!!
I am absolutely and seriously convinced that paying every worker their enitre earned income amount will go a LONG way to resolving a bunch of problems. The mechanism to do this is already in place...Quarterly payments to the IRS for example are nothing new. It won't require a huge new gov't beauraucracy...and IT WILL HAVE A HUGE AFFECT..!!
 

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Don, Kip, you are absolutely correct. I have been preaching this to anyone who would listen for years with the addition that everyone should pay taxes. No one should be exempt because they make too little or have too many children. We have an unbelievable number of people who do not pay income tax and vote for every new tax proposal thinking they can get something for nothing. Tony
 

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I like the tax holiday but dollars to doughnust says the predatory politicians would just up the ante for the other 10 months to make up the difference.

DC needs a complete housecleaning, of course.

"Dollar Bill" Jefferson is campaigning in Louisiana while under indictment for the 83 thousand in marked bills the FBI took from his freezer.

Marion Barry is the mayor of DC after going to prison for a felony.

It goes on and on.

"Evil will triumph when good people do nothing."

HM
 

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Unfortunately, evil happens when good people do something also. We are just short of enough good people to make a difference. I spend a good portion of my week writing and contacting every and any government official that I can reach, over a number of important issues. I've been to DC and sat in on meetings and discussion panels until I was blue in the face. I don't go as often as I once did, but I still go 6-8 times a year.

What I learned is that those of us who are really Conservatives are reactive by nature. Our pro-active energy is spent providing a living for ourselves, and usually others also. Liberals, at least those in DC are pro-active, they get involved because they see government as a faster way to riches than hard work. The irony is that they often spend more hours scheming than they would creating their own wealth. It doesn't matter to them, only privilege and control of others is important.

A lobbyist I've known for years refers to D's in two terms; "Sheep, and Sheep dogs." You get the analogy. He uses his analogy quite well.

Until we Conservatives learn to get pro-active, and actually make the physical effort, and take the actual time to get into the political fight, we'll keep loosing. "You may not care about politics, but politics cares about you." It's not even about our children anymore, it's about our grandchildren. "Where your treasure is, so shall your heart be..." Mission Continues.........

Kip
 
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