Archive for federal budget

Balance Budget Or Else -- Cut Your Pay

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Balance the Budget

Well you have to hand it to the Republicans, or actually two of them. Both from Michigan, they want to put their money where their mouth is -- and they want the rest of Congress to join them.

Rep. Kerry Bentivolio (R-Mich.) on Wednesday proposed a new bill that would require congressional salaries to be cut 15 percent any time Congress fails to balance the budget.

Bentivolio said his Spending Accountability Act, H.R. 3993, is needed to give Congress an incentive to cut the annual budget deficit, which is now at $600 billion per year and expected to rise.

"I think my colleagues need a little more motivation to do the right thing and balance the budget," Bentivolio said Thursday. "They're hitting the American taxpayer in the pocketbook by accumulating so much debt.

Rep. Kerry Bentivolio (R-Mich.) and his co-sponsor is Rep. Dan Benishek (R-Mich.), and must feel they have no chance at re-election because they're pulling out all of the stops to make one last, desperate attempt to woo voters and to keep their jobs. They're challenging all of their fellow Congress persons to balance the federal budget or take a pay cut. This certainly won't get them invited to too many congressional parties.

Voting against this bill would make the rest of Congress look like the money grubbing representatives they generally are. Gee, I kind of like that. Put up or shut up. 

Of course this bill will never see the light of day, but even if, miracle of miracles, Boehner brought it to the floor, it wouldn't have much effect. If the bill were passed into law, it would not apply to the current Congress due to the 27th Amendment, which says pay adjustments can only apply to the next Congress, not the current one.

But you can't fault these two GOP'ers for trying -- at least they're willing to pay a price for not doing their jobs. Of course when you make a base pay of $174,000 a year, after taking a 15% pay cut, you're still doing okay -- $147,900. Not too shabby for working less that 120 days a year.

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If Corporations Are People Too, Why Do They Get Taxed Differently Than People?

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We the Corporations

Perhaps the easiest way to put the argument to bed as to whether or not "corporations are people, too, my friend," is to pass a clarification law stipulating that corporations are in deed people. (I know, it's crazy and we know they aren't, but let's for a moment say they are.) What would the next step be?

Well, for starters, we would have no, repeat no, federal deficit and individual taxes would drop precipitously. Why? Because PEOPLE don't get the advantages and tax loopholes of the Federal Corporate Tax Rate that allows them to skate on their tax obligations to this country. They would just pay the federal individual tax payer rate, like all of us "people," which they will then be.

Gone would be all those corporate write-offs, jets, yachts, huge parties and outings. Those huge offices and off-shore holding accounts. We could say bye-bye to tax credits for sending business overseas. If individuals don't get those benefits, either will the new "individuals." Oh, and too big to fail? That's gonna be gone too as no individual is too big to fail.

So what are we talking about when when we start saying that corporations are people too? We're talking about the entire rehauling of big business and a simplification of the tax laws. When they start paying their individual taxes they can start enjoying the individual freedoms guaranteed under the Constitution.

If they want free speech they won't need Citizen's United. As people, they will have that. If they want freedom of religious beliefs as in the two cases approaching the Supreme Court, then as individuals they will have that. But with those rights, come restrictions and penalties -- including jail and fines for abuses.

Think about how quickly the national debt would turn into a surplus (promoting tax rebates and lower individual rates) if corporations paid their "people" tax rates, not corporate tax rates. In 2012, the following companies paid either ZERO federal taxes or actually got REBATES from the government - Wall Street Journal:

tax avoidance corporations

  • General Motors
  • Verizon
  • Ceasar's Palace
  • Prudential Insurance
  • Ameren
  • Lear Jets
  • American Airlines
  • JC Penny
  • Boeing
  • General Electric

Think about it for a moment. Is something wrong with this picture? Why should companies have all the benefits that people have, but not the responsibilities? People pay their fair share in order to enjoy a fair voice and be protected under the laws.

So big companies, you want to be treated like people, act like it.

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