Blog/The Hunt for Taxes
Posted Aug 29, 2015 by Martin Armstrong
QUESTION: What would you advise Trump if he asked?
ANSWER: When I debated Steve Forbes and New Jersey Governor Jim Florio who lost because he kept raising taxes, I converted Florio. Steve took the Flat Tax and Florio was the “tax ‘em ‘til they die” Democrat; in the debate I disarmed Florio by pointing out that the government borrowed from the poor without giving them anything in return and handed them back their own money in a refund check to pretend they were benefiting from socialism.
Eliminate payroll taxes and bluntly say that the Founding Fathers knew of the evils of direct taxation. Return the country to how they designed the system rather than Karl Marx. If everyone pays indirect taxes, then even illegal aliens have to pay. With income taxes, only citizens pay taxes and government has to track you, which also results in a loss of privacy.
Hillary says she will force companies to pay their employees more. The State of New York is going to mandate a $15 minimum wage; add Obamacare to that and big companies will start to replace workers with automated machines. You never see someone in a parking garage. When you check in for a flight, you use a machine to receive your boarding pass. Some airports, such as Frankfurt in Germany, use machines to weigh, tag, affix, and load luggage. The minimum wage should be a place for people to begin to work as kids in school. Raise the wage combined with Obamacare, and you will eliminate low entry jobs. Starbucks pays $9 and the benefits cost more than the coffee they buy. These are not career jobs.
If you want to raise the living standards, eliminate payroll taxes. Every $1 increase paid by a company results in another $1 to comply with regulations to match Social Security taxes, and the worker never sees that money anyhow. Let the people retain their income and you will see people want to work to get ahead. Currently, we borrow from the poor, pay them no interest, and then hand them back their own money, all to pretend socialism works.
Tags: Jim Florio, minimum wage, Obamacare, Socialism. Income Tax, Steve Forbes, Trump