A new Stimulus Plan that cost Nothing
By bobmnu
@bobmnu (8157)
United States
February 10, 2009 11:00am CST
I have a plan that we could try for one year that would be revenue neutral for the government and would give the tax payers money right now to use and or invest. it would not cost the taxpayer any additional money and could even save them money.
What I propose is to suspend the Federal Withholding Tax, Social Security Tax and Medicare Tax for one year. When you file your Income tax you would simply write out a check for the total amount you owe the government for these taxes and you would be paying the same tax and the government would be receiving their tax money so it is revenue neutral for everyone.
I would like to know what you think of this plan and I give my opinion in response to your comments.
1 person likes this
1 response
@laglen (19759)
• United States
10 Feb 09
I think that is a great idea. Or even better, lets close government agencies for one and no taxes. I bet that would do wonders.
@bobmnu (8157)
• United States
11 Feb 09
One of the things that it would do is to show people how much they are really paying in taxes. Most people can tell you how much they owe or will get as a refund. Some people think that the refund means they paid no taxes. This way they would have to sit down each quarter and write the government a check to pay for these things. I think you would see the elections change and the size of government reduced. How much more concerned would you be if you had to write out a check each quarter for $5,000 to pay for Social Security, Medicare and Federal taxes and then had to write a check to the state government as well?
The Federal Income tax was sold to the American People as a tax on the rich and now look who is paying. The Withholding they said was done to make it easier for the people to pay their taxes. It was also easier for the government to raise taxes because it was only a few cents more a paycheck. If you take 50,000,000 workers and increase the tax $0.50 per paycheck, and they get paid twice a month that will be $600,000,000 more a year in taxes the government collects and you would hardly know it. From the governments point of view this was the greatest Idea to come out of FDR's New Deal. People now have to wrok to figure out how much they pay in taxes every year.
