I love the idea of a consumer consumption tax to replace the archaic tax code. The government would save so much money on by administrating the tax code that it would be ridiculous.
Washington, D.C. (PRWEB) January 24, 2012
RoadFish.com released today a lambasting of Obama's proposed tax policy. In their article RoadFish says that no new tax complications are needed, but instead a simplification of the ones we have that would ultimately help us save on taxes and businesses on overhead costs.
Stephanie Condon of CBS news wrote, "Just hours after his potential Republican rival Mitt Romney revealed he paid a 14.5 percent tax rate on his $42 million in earnings in the past two years, President Obama on Tuesday night plans to use the ultimate platform -- his State of the Union address -- to charge that it's wrong to let millionaires pay so little into the system."
RoadFish.com's editor was quoted as saying, "The U.S. tax code is ridiculous. It is absurdly long, complex, and even when you are somebody like me who is trying to follow it 100% honestly it can get downright confusing. I love the idea of a consumer consumption tax to replace the archaic tax code. The government would save so much money on by administrating the tax code that it would be ridiculous. The federal government is spending so much money that they are going to get a D- on their credit report.
According to White House Communications Director Dan Pfeiffer's post on Twitter, "Tonight President Obama will offer more details on the Buffett Rule and Buffett's secretary, Debbie Bosanek, will be in the First Lady's Box."
In 2011, Obama proposed a tax plan named the "Buffett Rule" which was named after investor Warren Buffet. Stephanie Condon's CBS article, explains the "Buffet Rule" simply as "to compel those making $1 million or more a year to pay a rate no lower than what middle income Americans pay. Taxpayers making $1 million or more often make their money through investment, or unearned, income, which is taxed at a lower rate than wage, or earned, income. Most Americans make their income through wages, which are taxed on a sliding scale that tops out at 35 percent."
RoadFish.com states, "The "Buffet Rule" is simply a way to get rich Americans who make money off passive income to pay their fair share. In summary, RoadFish.com is saying we need an inexpensive to administer, easy to pay, consumer consumption tax."
The State of the Union address will occur tonight, January 24, 2012, at 9pm EST.
RoadFish.com is an online men's lifestyle and finance magazine targeted toward men in their 30's and 40's that have already attained a moderate level of success in life, and are striving toward more. It goes over current events of interest to this group, such things as exciting adventures, dating tips, making more money, entrepreneurial opportunities, and male grooming. It is a publication owned by Purpose Inc.