tax reform

Tea Parties, Round II

Posted by E!! on June 26, 2009
Tax Day Tea Party, Taxation / 3 Comments
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I admit I’ve been a little ambivalent about the upcoming Las Vegas Tea parties (July 3rd or 4th depending on which you choose).  The one on April 15 was great fun, and I made some friends and gained new contacts – but I’ve wondered since then, what really came of it?  And what’s next?

Ralph Benko has a suggestion in his latest Examiner column, and I kinda like it.  As they say, “Go big or stay home.”  Or – and I happen to know this is one of Ralph’s favorite quotes - ”Lost causes are the only ones worth fighing for.”  (Clarence Darrow) 

Here’s the core of the piece:

There are plenty of targets for the tea parties. Most ambitious is the call for repeal of the 16th Amendment — the income tax amendment.

A declaration is circulating on the Internet pointing out that July 12 is the Centenary of Congress’s passage of the 16th Amendment and proclaiming a National Day of Mourning coupled with a demand for repeal. The key proponent of the demand for Repeal is John Hanson, an old Cajun chased out of Louisiana by Katrina and resettled in rural Virginia.

With no money to speak of, little exposure, and just a handful of very part time volunteers, he is using www.RepealIncomeTax.com to enlist thousands of signers of the declaration demanding repeal. On July 12th, Hanson will start a three-year campaign to raise awareness of the issue in the states.

Before all we roll our eyes and say, “yeah, like that’s gonna happen,” Ralph reminds us that the 18th Amendment – Prohibition- was repealed after a concentrated national outcry. No constitutional amendment had ever been repealed before and many naysayers laughed at that one, too.  Notably, the income tax has something in common with prohibition:   it is starting to be hated with a passion.

A movement for repeal, if not succesful, could perhaps at least spur major reform.  A welcome thing indeed, and what a wild wonder if the Tea Party Movement could one day point back and say, “We helped do That!”

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Financial Crisis: Steady Boys…Steady!

Posted by E!! on September 25, 2008
Conservative, Economy, government bailouts / 1 Comment
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 I keep reading commentary, even in respected conservative forums, that Paulson’s gigantic bailout plan is bad, and admittedly un-conservative, but that we must do “something” and the alternative is too dreadful to contemplate.

 As Colonel Potter used to say, “Horse-hockey!”  

  Protecting the long-term value of the American dollar is more important than a quick fix.  So is teaching our bankers, traders and lawmakers that the government is not going to bail them out of future messes.  If there’s a pot of government gold at the end of every financial rainbow, what’s to stop everyone from chasing the green leprechaun again?

  Federal action is warranted, but the focus should be less on debt and more on protecting present and future capital.  If we go about this rationally and take this opportunity to promote pro-growth policies and tax reform, investors will respond to the prospect of higher future returns.  It’s that simple.

  Conservatives:  we cannot abandon our principles in times of crisis. We must remain steady at the wheel.

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