Wednesday, December 03, 2008

I still like the big-fat-bonus-check for every US household idea better...

...but this idea isn't 100% awful.

From the Office of Congressman Louie Gohmert
Press Release : FOR IMMEDIATE RELEASE
November 28, 2008
Convert Paulson’s Last $350 Billion into Tax Holiday, says U.S. Congressman

"Billions of Dollars for Taxpayers, but Not One More Penny for Executive Bailouts"

WASHINGTON, D.C. - As millions of Americans are hoping to maximize their holiday shopping budgets on today's Black Friday bargains, one U.S. Congressman is fighting to prevent more outrageous spending sprees by Washington with taxpayer dollars going to executive cronies.

With $350 billion of the $700 billion bailout still available to Paulson pending Congressional approval, a conservative Texas lawmaker is proposing to put that money towards a tax holiday from both personal income tax and FICA tax for Americans during January and February of 2009.

He stated, "By instating a temporary tax holiday, we could electrify the American economy and provide overwhelming relief to taxpayers, all for less than the cost of the current failed Paulson-Pelosi bailout system."

"We need to give this money to the people who earned it. I am sick of Washington millionaires trying to decide which of their cronies should get the next wad of taxpayer money," Rep. Louie Gohmert continued. "Think about how much you would have if you didn't have any social security or income tax withheld from your pay check, or if you didn't have to pay those taxes for January and February! Americans could take and invest their own money where they believe it should go - to paying down mortgages, buying a new car, making credit card payments. The economy would get relief where it is needed the most. Why try to decide how to prevent foreclosures? Just give taxpayers their own money to catch up on their payments. Those in lower income brackets who are hit the hardest by the FICA tax would see huge money back, and then THEY could choose who should benefit from their hard earned money. Even the self-employed and small business owners would receive a fantastic amount of their own much-needed money, and they will be able to invest that back into their businesses and even create the ability to hire more people.”

Gohmert is currently preparing a bill to declare the tax holiday for January and February of 2009 and is also gathering support at the same time. He said, “We can save more home mortgages, increase employment, and boost economic growth for a lower price tag with this plan than with any centralized bureaucratic program, all by giving the power back to the taxpayers. I am demanding that not another penny goes to executive bailouts, but these billions of taxpayer dollars should go to the taxpayers who earned them."

According to American Solutions, a conservative think tank founded by former Speaker of the House Newt Gingrich, Americans pay $101.6 billion per month in personal income tax and $65.6 billion per month in FICA tax. Under Gohmert's proposed plan, all of these taxes would not be paid during January and February of 2009, and the money would stay in the hands of American taxpayers - the ones who best know where economic stimulus should be targeted. Gohmert's two month tax holiday would stimulate the economy while costing less than the remainder of the Paulson-Pelosi bailout plan.

Rep. Louie Gohmert (TX-01) has also recently proposed returning all 2008 income taxes to American taxpayers as a solution to boost the ailing economy, as he believes taxpayers, rather than the government, should be using their hard-earned money to choose the economy's winners and losers.

If you'd like to support Rep. Gohmert's plan and tell Congress to put an end to the government's excessive bailouts, sign the online petition at RedState.com by clicking HERE, or paste

https://redstate.kimbia.com/taxholiday

into your web browser.


I certainly wouldn't mind getting a check back for all the taxes withheld in 2008, but that doesn't address the $700 Billion-with-a-B blank check Paulson is handing out to his cronies, which we will still have to pay for along with paying off the money we would get back in this refund. Let's face it, the money is already spent and will have to be made up somewhere - unless the US Government is planning to declare bankruptcy. That would be a quite a can of worms, to say the least. If the government's going under regardless of whether we "declare" it or not, then we may as well get access to our money and pay off bills while we still can. It won't stop this train wreck completely, but it will at least get a few debts paid off. So send me my money, Gohmert. You guys aren't going to spend it on anything that will benefit me, anyway.

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