A Tax Plan Worth Looking Into

Have you been pulling your hair out (or rubbing your scalp for those who are follicly challenged) over the past few months about these massive bailouts? I think every major financial company has come to Henry Paulson with his hand out, whining about how if they are not helped then the American, and world, economy will collapse and civilization will end as we know it. Now it is the Big 3 American automakers who feel like they need a hand when what they really need to do is to dropkick the UAW to the curb and restructure to make themselves more competitive against foreign makers. The bailouts have not helped "right" the economy so far although half of the allotted funds have been given out and now Paulsen is saying that he knew that the bailouts would not work. All the while the Federal Reserve is raking in money hand over fist in interest payments on the bailout money. No solution is forthcoming from the Office of the President-Elect either, he is too busy ignoring, or willingly going against, the Constitution in his appointment of Hillary Clinton to the office of Secretary of State. More about that in another post.
Somebody does have a plan though - his name is Louie Gohmert and he is a conservative Congressman from Texas. Rep. Gohmert has been in the House since 2004 so he is not exactly a spring chicken when it comes to how the House works. Last week he proposed that to help the American people by mandating that the Feds give back all of the 2008 income tax that individual taxpayers have payed this year. All of it. Not the little refund (in the case of the Nelson family, a huge refund) some get, but get it ALL back. Not sure how that would fly, he has proposed something else that might gain a bit more traction. He proposes that all individual taxpayers not pay a federal income or FICA tax for January and February 2009. You need an economic boost? Here it is! Not enough you say? Take your monthly gross and multiply it by .66 - that is how much you would get back during the two month period. Not bad, eh? Instead of the government spending my money in the form of a bailout to big corporations, I would spend my money how I need to. I like that idea much better. Read an article about it here.
This won't fly with House Leader Nancy Pelosi, think about all of those wonderful government programs that will suffer! Didn't the Office of the President-Elect promise a middle-class tax cut? Here it is President-Elect Obama, your chance to make good on at least one campaign promise in your first 100 days in office. Too many strings attached to this one and it will never get off the ground but a bold idea nonetheless. Let Rep. Gohmert know that you support him, here is his website. Contact your own Rep and Senators to let them know you support this proposal and let's see if it can gain some momentum.