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Old 12-19-2011, 04:22 PM   #1
classicman
barely disguised asshole, keeper of all that is holy.
 
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Posts: 23,401
Google gave me this
Outlined by one guy here
Quote:
Simplify The Personal Income Tax Code And Lower Rates. Rather than nibble around the edges of the existing tax code,
Gov. Huntsman will introduce a revenue-neutral tax plan that eliminates all deductions and credits in favor of three drastically lower rates
of 8%, 14% and 23%. Eliminating deductions and credits in favor of lower marginal rates will yield a simpler and more efficient tax code,
decreasing the burden on taxpayers.

Eliminate The Alternative Minimum Tax.
Under the new simplified plan, Gov. Huntsman will eliminate the Alternative Minimum Tax, which is not indexed for inflation
and is penalizing an increasing number of families and small businesses.

Eliminate The Taxes On Capital Gains And Dividends In Order To Eliminate The Double Taxation On Investment.
Capital gains and dividend taxes amount to a double-taxation on individuals who choose to invest. Because dollars invested
had to first be earned, they have already been subject to the income tax. Taxing these same dollars again when capital gains
are realized serves to deter productive and much-needed investment in our economy.

Reduce The Corporate Rate From 35% To 25%.
The United States cannot compete while burdened with the second-highest corporate tax rate in the developed world;
American companies and our workers deserve a level playing field.
With high unemployment, it is important that we not push corporations and capital overseas.
We need employers to be based in America if they're going to provide jobs to Americans.
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Old 12-19-2011, 05:27 PM   #2
ZenGum
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Posts: 12,861
If the 9-9-9 plan got a B-, then getting a B+ is not very impressive.

Quote:

Eliminating deductions and credits in favor of lower marginal rates will yield a simpler and more efficient tax code,
decreasing the burden on taxpayers.
"Decreasing the burden" means less revenue. How is he going to balance the budget?


Quote:
Capital gains and dividend taxes amount to a double-taxation on individuals who choose to invest. Because dollars invested
had to first be earned, they have already been subject to the income tax.
Total BS. The capital GAINS were never taxed, only the starting capital. Why should a speculator's income not be taxed like everyone else's?

Still, it is the least silly plan I have seen yet. Huntsman is the only one who seems to be taking this seriously.
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Old 12-19-2011, 05:30 PM   #3
Lamplighter
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Quote:
Eliminate The Taxes On Capital Gains And Dividends In Order To Eliminate The Double Taxation On Investment.
Capital gains and dividend taxes amount to a double-taxation on individuals who choose to invest. Because dollars invested
had to first be earned, they have already been subject to the income tax. Taxing these same dollars again when capital gains
are realized serves to deter productive and much-needed investment in our economy.
This "double taxation" is a Republican myth

For an investment in stock, any dividends paid to the investor are "new $" income to the investor.
When the investor sells that stock, the "capital gain" is the selling price
minus the purchase price and fees incurred during the transaction cycle.
The same is true on purchase of equipment, real estate, REI's, etc.

Anyone that proposes that "capital gain" is different from ordinary income
is saying one $US dollar is different from another $US dollar,
... and guess who says that... the people that don't earn their living or extra $ from salaries or wages.

Capital gains should be taxed at the same rate and right along with ordinary income.
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Old 12-21-2011, 08:37 AM   #4
Lamplighter
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I am embarrassed to say I first opened this article when I misread it's title.

But it turns out there are two interesting aspects to the article.
First Gingrich's camplaign plans, and then there is the sausage-making aspects
of a candidate even getting on various states' ballots for the primaries.

NY Times
By KATHARINE Q. SEELYE
December 20, 2011, 4:26 pm

Gingrich Heads to Virginia for Ballot Push
Quote:
The Virginia presidential primary is not until March 6,
but Newt Gingrich is suddenly veering off the campaign trail
and heading there Wednesday with urgent business:
...get on the ballot. The deadline is Thursday.

On Tuesday, he hastily added two events in Virginia to his schedule
— a rally in Arlington on Wednesday night and a “meet and greet”
with volunteers in Richmond on Thursday morning.

He needs at least 10,000 signatures to get on Virginia’s Republican presidential primary ballot,
but the state has the steepest ballot requirements in the country.
It is not clear how many signatures he has now.

The signature-gathering exercise is where Mr. Gingrich’s lack of field organization shows;
Mitt Romney has been gathering signatures in the state since the summer and has met the goal.
Mr. Gingrich’s campaign went dark this summer and is scrambling to catch up.<snip>

and then there are the challenges to get on the state ballots...


Quote:
In Virginia, candidates face the further hurdle of having to show support
across the whole state, with at least 400 signatures in each of the state’s 11 Congressional Districts.

Apart from Virginia, other difficult states are: Indiana, which requires 4,500 signatures;
Illinois, which requires 3,000; and Pennsylvania, which requires 2,000.
In Pennsylvania, signatures can come from Republicans only, and only in a three-week period.
The other states require more signatures, but they are open to all registered voters and have a longer collection period.
and besides all that:

Gingrich is slipping in the polls, and racking up negative comments from conservatives
who say he is:— a man who can “bring us together, and alienate the hell out of us,”.

Meanwhile, Ron Paul may actually be looking for a win in Iowa...Romney, not so much.

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