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REINVENT TAXES TO SHAPE OUR ECONOMY
© 2007 Frank Lynch
2008 Inc.
| Summary:
Thanks to the failed leadership of the other
Presidential candidates, our educational system ranks
19th in the world, our healthcare system ranks 39th,
but our income tax code
at 60,000 pages is dead last, the worst in the
entire world.
These disgraces are gifts to us from the
17
other people who are running for President. My opponents are the
"dogs" who, as Senators, Congressmen or Co-President, passed this world's worst
tax code! And they want to be your President. We should deport them,
not elect them. Income taxes
are a drag on our economy. Frank will replace income
taxes with Abe Lincoln's 47% tax on imports that will
bring jobs back to America. China taxes our exports to
them by 66%: 30% actual import tax plus 40% currency
manipulation. Fair is fair. Bring the jobs home.
Taxes Warping
Business Decisions:
As soon as we never have to file an income tax return
again, every person in America will be able to save, and not have to
waste the time and expense of filing. and all new small
businesses, family businesses, and large corporations will flourish like
never before.
Businesses will escape from Washington
lobbyists and the 60,000 page, world's worst income tax code, which was
cursed upon us by the other 17 candidates for President. We should
deport them, not elect them. Everyone starting a new business, or
running a large business will be able to add new jobs.
No tax on retained earnings. No
double taxation of dividends because there is no income tax. No tax
difference between debt and equity. No army of accountants, tax
specialists, lawyers and investment bankers for the tax implications
of every merger, acquisition, stock dividend, restructuring, stock
repurchase, extra-ordinary dividend, LBO, or deciding what kind of
security to issue. They are all tax free.
Foreign Trade The Abraham
Lincoln 47% tax on imports will both pay for free healthcare for every person
in America, and simultaneously bring jobs back to America. Sure it will
cause disruptions with many trading partners, but the
truth is America loses, net, almost $10 billion a week
in foreign trade, and it will get worse every month
forever.
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Or Choose from
Frank's Ten Gifts: |
Frank Lynch will use the Abraham
Lincoln import tax to create a rebirth of American national
security, science, technology and manufacturing, and create a
magnificent jobs boom. Frank will pay for free medical care,
re-invented education, and other programs with import taxes
supplemented by a 5% sales tax. When Abraham Lincoln re-invented
education and combined that with a 47% import tax and zero income
tax, we had the greatest economic boom in our history, and quickly
became the world leader in technology and manufacturing.
Frank Lynch wants to eliminate income
taxes on people and businesses. Imagine never again having to file
an income tax return! No more personal and business decisions being
interfered with by tax considerations.
No more tax-advantaged investment
vehicles that suck all the income out of your savings with nasty
fees and service charges all year long, because with Frank all your
savings will be automatically tax free!
If you charge people money to do
something, they will do it less. If you pay money for doing
something, people will do it more. Our tax on income and profits is
one of the worst tax systems in the world, and does enormous damage
to our people and our economy.
Our income tax actually pays corporations to kill
American jobs and send them offshore. It forces corporations to hide
foreign profits offshore, and never bring the money home to create
jobs inside America.
The corporate lobbyists seeking loopholes and other abuses of our
tax system are the biggest and worst source of corruption of our elected
officials. Even worse, our elected officials waste so much time on these
legal tax loopholes that they have no time left to develop a
national strategy for survival, let alone a strategy like Frank's
strategy for rebirth of our national greatness.
What we tax and how we tax it has a
major impact on our society. For the last 30 years America as a
whole has never made a profit on import/export. Every year is worse
than the year before, for 30 years in a row. Every businessman knows
that if a line of business never can be profitable, you have to get
out of it. Since China has stolen all our technology, our hard
earned advantage
is gone. We must be anti-globalization and stop imports.
We must be self-sustaining. It is
absolutely beyond comprehension, totally mind-blowing insane, that
we import all of our laptop computers, including all the laptops
without which our local and federal governments and all our military
cannot operate, from a Communist nation whose government controlled
newspapers incite its people every single day to destroy America! On
what distant planet have our elected officials been sleeping?
No nation with a national strategy
would ever have let this happen.
But wait. It gets even worse! All the
rest of our computers, all our military equipment and battle tanks,
helicopters, military and even all civilian jetliners, electric
utilities, public water systems, telephone and cell phone networks
absolutely depend on display screens.
Every flat panel display is imported!
If Communist China ever decides to stop sending flat panel displays to us, we will
be starving and dying of thirst within the year. Our airplanes won't
fly, our military will be immobilized. Electricity and water will
vanish. You will have to leave your home, and take your family
walking in the dark in the countryside searching for water.
The loss of our nation's ability to
manufacture thousands of essential components of our civilization
puts the survival of America at serious and imminent risk. When our
troops in Iraq needed armor in a hurry, we could only find one
American company with the ability to manufacture high grade armor.
Just one was left!
Frank Lynch will pay for free medical
care, re-invented education, and his other programs with import
taxes supplemented by a 5% sales tax. When Abraham Lincoln
re-invented education and combined that with a 47% import tax and
zero income tax, we had the greatest economic boom in our history,
and quickly became the world leader in technology and manufacturing.
The costs of healthcare have been a
huge drag on American companies. By shifting these costs to the
import tax, American companies will be much healthier.
Startup and small businesses are
crushed by the burden of employee healthcare. No More!
Most of you do not realize that most
municipalities, school systems, and state and local governments will
soon face bankruptcy because they will be unable to pay the costs of
the medical care promised to their firefighter, police, teacher and
civil service retirees.
On his first day in office, Frank will place a 66% administrative
fee on every import from Communist China and their puppets. Frank
will ask Congress to put Abe Lincoln's 47% import tax on all imports
from anywhere.
Frank will ask Congress to repeal
every single page of the tens of thousands of incomprehensible pages
of our income tax codes, and replace them with a 5% sales tax.
The only payroll deduction from an
individual person's paycheck will be a deduction for a national
retirement index mutual fund that will invest only in the common
stock of companies that are 100% American. Each person will own his
or her own national mutual fund account, and may contribute an
unlimited amount of extra money into their personal national
retirement account, with no fees.
Employers and employees will each
contribute 5% to the retirement fund. Employees between age 40 to 50
may choose to stay in traditional social security. Everyone over age
50 must stay in traditional social security.
There will be no stock picking and
gambling. The fund will be indexed, meaning it will invest in every
100% American company in proportion to each company's stock value as
a percent of the total of all 100% American companies' stock value.
Such an index fund is very cheap to operate, and can be managed by
only one desktop computer. To be 100% American, a company must be
chartered, and have its headquarters, principal executives and
administrative facilities inside the continental US. To prevent
abuses, to qualify a company must create a plan to eliminate over
time all other debt and equity securities other than the single
class of common stock.
Vote for Frank, the only choice for
true change.
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