Gingrich: Obama Is Like Jimmy Carter

Gingrich in 2012

Gingrich must be letting the rhetoric from his Fox news buddies go to his head. Somehow he has forgotten how he left congress under a cloud of ethics problems. Does he really believe that all of that and his adultery problems won't end up on the front page right under his name as soon as he decides to run. He has no intention of running. He's just pulling everyone's leg so that his paymasters will continue to think he's relevant.

Ending Entitlements and starting the Flat Tax

The easiest solution for taxes is a flat rate federal income tax where everyone pays the same percentage of their income in taxes. This would be the sole tax on the individual, so others, such as the payroll tax, Social Security, Corporate gains, commodities (gasoline, cigarettes and alcohol) and so fourth would all be eliminated. The corporate income tax (also flat rate) would still be in place, as it's not something attached to an individual or family. At the same time there would be no tax loopholes. If you were living beyond your means, it would draw obvious attention from the IRS and bring charges of tax falsifications. Some would argue that such taxes would penalize the poor--however when one factors in the payroll tax, commodities taxes, taxes on gasoline and so fourth, it wouldn't. Nor would it be a massive benefit to the rich as they couldn't use loopholes to pay less in taxation. Not to mention, it would make filing taxes extremely easy.

As for entitlements, I am not for the 'sudden end' approach, though I am for gradually ending them. Prior to entitlements, families took care of their own and those who had problems got help from charities. Just as the parents took care of their children in youth, the children--when grown--took care of their parents in late-life. Entitlements are part of the reason why multi-generation families have fallen apart.

Ideally I'd see Social Security ended as in everyone in the workforce for under 10 years would not be eligible for receiving any benefits while all persons in the workforce for 10 years and over would be guaranteed their benefits--unless they wished to withdraw from the system, something which would be purposely complicated as they would be unable to re-enter. As the population aged, fewer and fewer people would end up receiving the benefits and to put things crudely, the system would die with them, though it would take a long time, as a 28 year old (assuming working since 18) would be expected to live 50-55 more years, so even if enacted today, the system would linger on tell around 2065, perhaps in a few tens of thousands of cases, until 2080-2090.

Some may consider that unfair, and it is, however life isn't fair. My great grandfather on my father's side of the family was alive when Social Security was made law and he was enraged, labeling it as state-sponsored theft. He was right, he died before he could collect anything, as did my great-grandmother. The same is true for my grandfather and grandmother. Only my father has only begun to collect benefits, however given how much money he put into the system as a small business owner (8 leased stores, 100 employees) for 32 years (15 as part-owner, 17 as full owner) as well as that of my grandparents and great grandparents, my father could collect benefits for nearly 300 years before he exhausted the money my family put into the system.

Federal Income Tax Rates

Stephen - are you lying to us or did you just believe someone else's lie? Income taxes have been dropping for the last 50 years. They dropped significantly under Kennedy, and then under Reagan, and then even more under George W. Bush. In the 1950s the LOWEST marginal tax rate was 22%, and all income over $200,000 was taxed at 92%. You're just dead wrong.

Here are the facts:

http://www.taxfoundation.org/publications/show/151.html#federalindividualratehistory-20090102