Bills introduced to disband the IRS! No death Tax!

Chister · 03-25-2009, 09:11 PM

March 24, 2009 Thornberry Introduces Package of Tax Reform Bills Print

Tax Reform Key To Rebuilding Economic Growth

WASHINGTON, DC – “The federal government has tremendous power to reach into the pockets of every American and take out what it wants to fund its activities. People are willing to grant government that power as long as they believe the system to be fair and that it takes no more money than is necessary to achieve important national goals,” said Congressman Mac Thornberry (TX-13). “I am very concerned that this compact between the people and their government is now broken. That is why I have sponsored or cosponsored this package of tax reform legislation.”

“Smart tax policy could help end the recession and get the economy growing again. Small business is the engine that drives the American economy, so the effect of tax policy on small business is especially important,” noted Congressman Thornberry. “In these troubled economic times, we need to help small businesses survive and grow. Unfortunately, many of the Obama Administration’s tax proposals are likely to hurt, not help small business.”

Congressman Thornberry proposed the following “smart tax” goals that are keys to rebuilding economic growth:

1. Congress should make clear that taxes will not go up. Small business needs the certainty of no tax increases so they can have the confidence to grow and invest.

2. The tax code should not punish those who work hard and are successful. We want small business owners and others to work hard, grow their business, and be able to pass along what they have earned to their children.

3. The tax code should encourage capital formation so that small businesses can create jobs and expand.

4. Rather than penalize industry, the tax code should bolster key industries, such as the energy industry, upon which our entire economy depends.

5. Congress should undertake major reform to simplify the tax code.

In order to achieve these goals Congressman Thornberry has sponsored or cosponsored the following bills:

H.R.205, a bill to permanently repeal the Death Tax;

H.R.25, The FAIR TAX promotes freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States;

H.R.470, amends the Internal Revenue Code of 1986 to provide for permanent tax incentives for economic growth;

H.R. 301, the Economic Growth Through Tax Stimulus Act of 2009, a bill to make the 2001 and 2003 tax relief permanent; Further reduce marginal individual income tax rates by 5% for the next five years; Reduce the top business and individual income tax rate to 25% for the next five years and to increase expensing for small business;

H.R.871, a bill to amend the Internal Revenue Code of 1986 to provide that the taxable income limit on the allowance for depletion shall not apply in 2008 to domestic marginal oil or gas wells;

H.R. 1470, the Equity for Our Nation’s Self-Employed Act. A bill to allow the self-employed to deduct the cost of health insurance premiums as a business expense and to forego payroll (FICA) taxes on these costs;

H.R. 982, a bill to terminate the Internal Revenue Code of 1986.

“Government taxation can reward some while it punishes others, and the wrong tax policies will prolong the recession and even make it worse,” concluded Thornberry. “I am extremely concerned that unless serious tax reform is enacted we will soon have a system that is all punishment and no reward for small business.”

Never Monday · 03-25-2009, 09:17 PM

Sadly, I think this will go nowhere. Taxation is power. The current majority party is all about power and control.

ironpig70 · 03-25-2009, 09:29 PM

its not taxes that are pissing me off. its the fact that somebody bought a home they could not afford and now they get special rates and deals to refi when us who have been responsible are taking it in the ass.

Mo · 03-25-2009, 10:08 PM

Quote:

Originally Posted by ironpig70

its not taxes that are pissing me off. its the fact that somebody bought a home they could not afford and now they get special rates and deals to refi when us who have been responsible are taking it in the ass.

Don't worry about the other guy - just worry about that which impacts you. You start to worry about what the other guy has and whether it's fair or not, and you're playing the liberal game.

Buckon37s · 03-25-2009, 11:11 PM

Quote:

Originally Posted by Mo

Don't worry about the other guy - just worry about that which impacts you. You start to worry about what the other guy has and whether it's fair or not, and you're playing the liberal game.

Thats brilliant, actually. Nice post.

ironpig70 · 03-25-2009, 11:13 PM

Quote:

Originally Posted by Mo

Don't worry about the other guy - just worry about that which impacts you. You start to worry about what the other guy has and whether it's fair or not, and you're playing the liberal game.

yeah i should worry about just me but when i have to pay for you cause you where a douche and bought a new truck and went on vacations while i ate ramen well fawk that. makes me just wanna say fawk it give me my gubment cheese

CrustyJeep · 03-25-2009, 11:21 PM

Quote:

Originally Posted by ironpig70

its not taxes that are pissing me off. its the fact that somebody bought a home they could not afford and now they get special rates and deals to refi when us who have been responsible are taking it in the ass.

I'm not taking it in the ass. What are you talking about? I've had a great time of taking advantage of the depressed interest rates. I've saved a shit load of money thanks to this goofy economy

Zoomie · 03-25-2009, 11:21 PM

Quote:

Originally Posted by ironpig70

yeah i should worry about just me but when i have to pay for you cause you where a douche and bought a new truck and went on vacations while i ate ramen well fawk that. makes me just wanna say fawk it give me my gubment cheese

Amen. I'm perfectly willing to pull my own weight. What kills me and makes me worry about our society as a whole is that I have to pull my weight, his weight, her weight, the crack whore's weight, the dumbfawk inefficient company's weight. Seriously. Let some folks fail. The free market will destroy them and replace them with something more efficient.

Motornoggin · 03-25-2009, 11:52 PM

I had someone tell me he was trying to refi his house to take advantage of the low rates. They told him they couldn't do it unless he was behind on his house payment.

So, he made himself 3 months late, got the refi, and the next month, got current again.

ironpig70 · 03-25-2009, 11:57 PM

Quote:

Originally Posted by Motornoggin

I had someone tell me he was trying to refi his house to take advantage of the low rates. They told him they couldn't do it unless he was behind on his house payment.

So, he made himself 3 months late, got the refi, and the next month, got current again.

yep crap like this is what is killing me. i will forego every thing in life but i will not be late on my house.

animator · 03-26-2009, 07:30 AM

Quote:

Originally Posted by ironpig70

its not taxes that are pissing me off. its the fact that somebody bought a home they could not afford and now they get special rates and deals to refi when us who have been responsible are taking it in the ass.

The bright side is at least you have a house. I can't even get a loan because of this bullshit, so I get to keep pissing my money away with rent. Yay for irresponsibility...

Phonedoc · 03-26-2009, 07:42 AM

Quote:

Originally Posted by animator

The bright side is at least you have a house. I can't even get a loan because of this bullshit, so I get to keep pissing my money away with rent. Yay for irresponsibility...

x2

Terrys_85_Toy · 03-26-2009, 07:46 AM

I just talked to my bank a few weeks ago about a refi.

They said they wouldn't consider it because of the 4 foreclosures within a mile of my house. They estimated that because of those foreclosures, my house is worth about 10 - 15% less than what I want to refinance. They wouldn't even send out an appraiser.

TEX · 03-26-2009, 08:22 AM

Quote:

Originally Posted by Motornoggin

I had someone tell me he was trying to refi his house to take advantage of the low rates. They told him they couldn't do it unless he was behind on his house payment.

So, he made himself 3 months late, got the refi, and the next month, got current again.

I locked in at 4.875% this week and have never missed a payment (homeowner since 1994).

ironpig70 · 03-26-2009, 10:29 AM

Quote:

Originally Posted by animator

The bright side is at least you have a house. I can't even get a loan because of this bullshit, so I get to keep pissing my money away with rent. Yay for irresponsibility...

i feel for folks like you. yeah i'm current never been late and with the values i'm currently upside down in mine so there is no refi in my future. but i got a 40 year fixed before the shit hit the fan. so i'm okay in that respect.

apeters89 · 03-26-2009, 11:22 AM

Quote:

Originally Posted by animator

The bright side is at least you have a house. I can't even get a loan because of this bullshit, so I get to keep pissing my money away with rent. Yay for irresponsibility...

Quote:

Originally Posted by ironpig70

i feel for folks like you. yeah i'm current never been late and with the values i'm currently upside down in mine so there is no refi in my future. but i got a 40 year fixed before the shit hit the fan. so i'm okay in that respect.

My thoughts on that... If I'd have bought a house last year when EVERYONE told me I should, I'd be upside down right now. My rent is CHEAP, and my landlord owns this house outright. I'm not worried about it. I'm waiting to buy EXACTLY what I want.

Sully · 03-26-2009, 11:32 AM

Quote:

Originally Posted by Never Monday

Sadly, I think this will go nowhere. Taxation is power. The current majority party is all about power and control.

You could say that no matter which party was in office.

ironpig70 · 03-26-2009, 11:54 AM

Quote:

Originally Posted by apeters89

My thoughts on that... If I'd have bought a house last year when EVERYONE told me I should, I'd be upside down right now. My rent is CHEAP, and my landlord owns this house outright. I'm not worried about it. I'm waiting to buy EXACTLY what I want.

my thoughts are the opposite if i didn't sell and then buy i would not be able to. homes are near 50% of what we sold for. and the amount of foreclosures in the area are insane. shit the home we sold was foreclosed up and is being resold as we speak. you are lucky that your landlord owns it outright would suck to have the sheriff show up and evict you for not paying

TexasBlake · 03-26-2009, 12:21 PM

Quote:

Originally Posted by Chister

2. The tax code should not punish those who work hard and are successful. We want small business owners and others to work hard, grow their business, and be able to pass along what they have earned to their children.”

That's a hypocritical statement.

Death taxes inhibit productivity for generations. Just because great grandpa Joe made a billion dollars, why should his kids get to sit around and do nothing. Why don't they "work hard" instead of living off what someone else worked hard for.

In my opinion, "old money" is no different than living off of welfare. Both cases are people living off of other people's money.

Death taxes keep people like the Kennedy's from being in charge.

TexasBlake · 03-26-2009, 12:22 PM

Quote:

Originally Posted by apeters89

My thoughts on that... If I'd have bought a house last year when EVERYONE told me I should, I'd be upside down right now. My rent is CHEAP, and my landlord owns this house outright. I'm not worried about it. I'm waiting to buy EXACTLY what I want.

Be greedy when others are fearful, be fearful when others are greedy.

mrtoddb · 03-26-2009, 12:30 PM

Yea, but I come from a ranching family, and thanks to inheritance taxes, death taxes and gift statutes, I will not be able to go out and take over the ranch when my folks can't do it and give it to me, wouldn't be able to afford it.

I think if you're family makes the money and gains the power, more power to you them and you, hard work pays off. Why should they not be able to live off of it?? I would love nothing more than to earn enough money that my kids could live comfortably.

It is learning to respect what is given to you and understanding where it came from and how you got it that counts. This is what has been lost, you have to keep working to add to it, but most won't and wealth is lost inside 3 generations usually.

aloharover · 03-26-2009, 01:11 PM

Quote:

H.R. 982, a bill to terminate the Internal Revenue Code of 1986.

Uhhhh... if this happened then I could start manufacturing FA stuff right?

CrustyJeep · 03-26-2009, 01:16 PM

Quote:

Originally Posted by aloharover

Uhhhh... if this happened then I could start manufacturing FA stuff right?

Hmm, and also distill your own spirits...?

This FairTax thing is even better than I thought

03-25-2009, 09:11 PM	#1
Chister Official Stalker Join Date: Oct 2000 Member # 2059 Location: 8 Farts South of Bubba Ray Posts: 10,645	Bills introduced to disband the IRS! No death Tax! March 24, 2009 Thornberry Introduces Package of Tax Reform Bills Print Tax Reform Key To Rebuilding Economic Growth WASHINGTON, DC – “The federal government has tremendous power to reach into the pockets of every American and take out what it wants to fund its activities. People are willing to grant government that power as long as they believe the system to be fair and that it takes no more money than is necessary to achieve important national goals,” said Congressman Mac Thornberry (TX-13). “I am very concerned that this compact between the people and their government is now broken. That is why I have sponsored or cosponsored this package of tax reform legislation.” “Smart tax policy could help end the recession and get the economy growing again. Small business is the engine that drives the American economy, so the effect of tax policy on small business is especially important,” noted Congressman Thornberry. “In these troubled economic times, we need to help small businesses survive and grow. Unfortunately, many of the Obama Administration’s tax proposals are likely to hurt, not help small business.” Congressman Thornberry proposed the following “smart tax” goals that are keys to rebuilding economic growth: 1. Congress should make clear that taxes will not go up. Small business needs the certainty of no tax increases so they can have the confidence to grow and invest. 2. The tax code should not punish those who work hard and are successful. We want small business owners and others to work hard, grow their business, and be able to pass along what they have earned to their children. 3. The tax code should encourage capital formation so that small businesses can create jobs and expand. 4. Rather than penalize industry, the tax code should bolster key industries, such as the energy industry, upon which our entire economy depends. 5. Congress should undertake major reform to simplify the tax code. In order to achieve these goals Congressman Thornberry has sponsored or cosponsored the following bills: H.R.205, a bill to permanently repeal the Death Tax; H.R.25, The FAIR TAX promotes freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States; H.R.470, amends the Internal Revenue Code of 1986 to provide for permanent tax incentives for economic growth; H.R. 301, the Economic Growth Through Tax Stimulus Act of 2009, a bill to make the 2001 and 2003 tax relief permanent; Further reduce marginal individual income tax rates by 5% for the next five years; Reduce the top business and individual income tax rate to 25% for the next five years and to increase expensing for small business; H.R.871, a bill to amend the Internal Revenue Code of 1986 to provide that the taxable income limit on the allowance for depletion shall not apply in 2008 to domestic marginal oil or gas wells; H.R. 1470, the Equity for Our Nation’s Self-Employed Act. A bill to allow the self-employed to deduct the cost of health insurance premiums as a business expense and to forego payroll (FICA) taxes on these costs; H.R. 982, a bill to terminate the Internal Revenue Code of 1986. “Government taxation can reward some while it punishes others, and the wrong tax policies will prolong the recession and even make it worse,” concluded Thornberry. “I am extremely concerned that unless serious tax reform is enacted we will soon have a system that is all punishment and no reward for small business.” __________________ KOH LIVE TV COVERAGE WATCH KOH LIVE UPDATES BROUGHT TO YOU BY PIRATE4X4.COM TV

03-25-2009, 11:52 PM	#9
Motornoggin Registered User Join Date: Aug 2002 Member # 13268 Location: Hillsbororegon Posts: 1,371	I had someone tell me he was trying to refi his house to take advantage of the low rates. They told him they couldn't do it unless he was behind on his house payment. So, he made himself 3 months late, got the refi, and the next month, got current again. __________________ [url]www.ravenoffroad.com[/url], ROROHVC-President, TRAC-4x4 rep.

03-26-2009, 12:30 PM	#21
mrtoddb Throttle Jockey Join Date: Mar 2008 Member # 110184 Location: Broken Arrow, OK Posts: 741	Yea, but I come from a ranching family, and thanks to inheritance taxes, death taxes and gift statutes, I will not be able to go out and take over the ranch when my folks can't do it and give it to me, wouldn't be able to afford it. I think if you're family makes the money and gains the power, more power to you them and you, hard work pays off. Why should they not be able to live off of it?? I would love nothing more than to earn enough money that my kids could live comfortably. It is learning to respect what is given to you and understanding where it came from and how you got it that counts. This is what has been lost, you have to keep working to add to it, but most won't and wealth is lost inside 3 generations usually. __________________ they (Pitbull 42's) stick to the garage floor like glue!!! when i sit in the jeep and make motor noises they seem to be sticky -Chrisjeep7 Life is tough, it's even tougher when you're stupid.- John Wayne 91 YJ, 5.3, TH400, Atlas 3.8, 35 spl 60's f&r, 4.88's, 38.5 TSL SX's

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03-25-2009, 09:17 PM	#2
Never Monday Tinfoil Vendor Join Date: Oct 2006 Member # 81214 Location: Lanna, Jawja Posts: 3,009	Sadly, I think this will go nowhere. Taxation is power. The current majority party is all about power and control.

03-25-2009, 09:29 PM	#3
ironpig70 Registered User Join Date: Sep 2001 Member # 6957 Posts: 4,189	its not taxes that are pissing me off. its the fact that somebody bought a home they could not afford and now they get special rates and deals to refi when us who have been responsible are taking it in the ass.