the Patriotic Retirement Plan

[Pappy]

Dear Mr. President:

Please find below my suggestion for fixing America 's economy.

Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the Patriotic Retirement Plan:

There are about 40 million people over 50 in the work force.

Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings -

Unemployment fixed.

2) They MUST buy a new American CAR. Forty million cars ordered.

Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage

Housing Crisis fixed.

It can't get any easier than that!

If more money is needed, have all members of Congress and their constituents pay their taxes...

Well Mr. President, what say you???

[rjm713]

It will never happen Pappy---makes too much sense and cost too little money. Nice try though. Ralph

[d90king]

Isn't it funny sometimes, how such simple approaches can yield such effective result!

I like it Pappy, to bad I am to young for "early retirement".

[Rich-D]

A mere $40,000,000,000,000 (40 Trillion Dollars) ! ;)

Rich

[rjm713]

Gee Rich I read 40 million people at 1 million each--40 million dollars I think. If it turns out to be 40 trillion the goverment might go for it. Ralph

[Rich-D]

Well you do have to add six zero's to the 40,000,000 to multiply by a $1,000,000 thus the total sum of 40 Trillion!

In other words, it is $1,000,000 Forty Million times! :)


Rich

[Pappy]

Let's reduce it;

1 person x 1,000,000 = 1,000,000
40 people x 1,000,000 = 40,000,000
400 people x 1,000,000 = 400,000,000
4000 people x 1,000,000 = ahhhh, starting to get brain freeze....

[Rich-D]

Ah Ha! You got it! You are adding 6 zero's to the number of people. So just add six zero's to 40,000,000 people over 50.

Rich

[Pappy]

I can only hope that when I grow up, I'll be just as smart as Brother Rich....... :D

[Rich-D]

Pappy, Thanks! :bf:


Rich :)

[rjm713]

Oops. I knew it was too good to be true. Ah well--nice try Pappy. Now lets hope the government doesn't try it. Ralph

[Pappy]

"Oops. I knew it was too good to be true. Ah well--nice try Pappy. Now lets hope the government doesn't try it". Ralph

Ralph, whoever said the Government was good at math?????

[d90king]

Ralph, whoever said the Government was good at math?????


They don't need math! They have their own printing press!!! :scared:

[kenhwind]

Govt math 101: me=the taxman
1 for me 1 for you
2 for me and 1 for you
3 for me and 1 for you
4 for me and 1 for you
All for me and none for you

[Rich-D]

Ken, You currently have 97 Posts. Three more and you can join me in the Senior Member Lounge. It's not furnished as nicely as the Executive Lounge, but there is plenty of room to relax, as there will be just us two. The Executive Lounge may be a bit nicer, but there are only 10 plush seats for 14 execs! So a few are left out in the hallway. :)

BTW: Don't tie up the restroom, that's where I do my math!


Rich

[Pappy]

At my age, I like being a Junior........

[kenhwind]

If Barack did go with Pappys' plan, Reid and Pelosi would tax it 99.99999................%, hopefully they'll leave enough to support the beer industry.

[Rich-D]

Has anyone noticed "The IRS" when connected spells out, THEIRS! :(

Rich

[kenhwind]

The Beatles were so prolific; "The Taxman": "be thankful I don't take it all" ...."I'm the Taxman"

[Rich-D]

The Beatles were so prolific; "The Taxman": "be thankful I don't take it all" ...."I'm the Taxman"
And that was when Taxes were relatively low. Now they are almost unbearable and about to get worse! The Beatles were Prophets with a song!


Rich

[Chilo45]

And that was when Taxes were relatively low. Now they are almost unbearable and about to get worse! The Beatles were Prophets with a song!

American tax system = unfair to all but those with money. They talk about effective tax rates or my favorite "the rich pay more in taxes than anyone else". NONSENSE. When the majority of American corporations may no income tax and the richest Americans pay a net tax rate of less than 5%, the burden falls on those who don't have enough to take advantage of the "laws".

A flat tax is equal to all. And it would eliminate our problems very quickly / fully fund Social Security (because the government would not need to raid that fund any longer) / and allow whatever social programs that at the "plan de jur" to be funded too.

But that's makes way too much sense so it won't ever be seriously considered.

[dogdollar]

$0 trillion should be do-able....the last discussion I heard on Obama's budget, they are now expecting it may even exceed one gazillion.
DD

[Frank]

...majority of American corporations may no income tax and the richest Americans pay a net tax rate of less than 5%... I'd be curious to know where you're getting your information. IME it is absolutely not true.

[d90king]

American tax system = unfair to all but those with money. They talk about effective tax rates or my favorite "the rich pay more in taxes than anyone else". KRAPOLA. When the majority of American corporations may no income tax and the richest Americans pay a net tax rate of less than 5%, the burden falls on those who don't have enough to take advantage of the "laws".


Hmm, I think your numbers are off just a little........... The top 5% pay almost almost 90% of all taxes collected the top 2% pays a majority of that.

If you believe that corporations don't pay taxes you are sorely mistaken. Remember many "corporations are "small" business owners. Small business owners pay pass through taxes on all income received from the business. In many cases those numbers exceed 30+% add to that another 6% at the state rate (unless you live in Cali @10%) and I think you see were I am going. You can get into an almost 50% tax bracket when you add in all of the other municipal taxes.

Your point on a flat tax sounds great to me, maybe we can set the rate around say 10 to 15% :D Or we could just go with a "consumption" tax....

[Frank]

...Your point on a flat tax sounds great to me, maybe we can set the rate around say 10 to 15%... I'd be thrilled to be paying only 15%.

[Rich-D]

Corporations not only have to pay State and Federal Corporate Taxes and Income Taxes. They also must pay Property Taxes, Building Inurance, Liability Insurance, Social Security Taxes, Workman's Comp, License fees and in some cases Health Insurance and Retirement Plans for each employee. And in Philly, there is also a Wage Tax and Liquor Licensees must pay a 10% per Drink Tax.

The Fact is, that many Corporations have folded under the weight of Taxation, leaving Employees without Employment.

Rich

[d90king]

I'd be thrilled to be paying only 15%.
Nothing would make me happier........

[d90king]

Corporations not only have to pay State and Federal Corporate and Income Taxes. They must pay Liability Insurance, Social Security, Workman's Comp, and in some cases Health Insurance and Retirement Plans for each employee. And in Philly there is also a wage tax and Liquor Licensees must pay a 10% per Drink Tax.

The Fact is that many Corporations have folded under the weight of Taxation, leaving Employees without Employment.

Rich
Yeah, but none of that counts right? Oh and don't forget the liabilities we take on as business owners....

They forget that sometimes we pay no taxes because we incur large losses. I have also yet to find any bailout for my companies. I guess I didn't give enough money...

[kenhwind]

Fifteen percent barely covers sales tax in some places.
NYC must be close with state and city added together.