Democracy.com

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Primary Election

Jun 24, 2014

70days until next election

February 26, 2014

Opposing Higher Taxes

We already are taxed to the breaking point in Maryland! Hardworking small business owners and farmers barely make enough to stay in business as it is and the cost of doing business just keeps getting higher every year; now Annapolis wants to tax chickens and rain!

Alan Greenspan, Federal Reserve Chairman from 1987 -2006, carefully crafted Federal monetary policy for two decades. He warned that; "The more you tax a thing, the less you have of it." Democrats don't get it; they just keep taxing and spending and taxing more to spend more. You can't squeeze blood from stones after the stones break!

A flat tax is a regressive tax; this means a tax that places disproportionate burden on the low income earners and is felt less by high earning taxpayers, e.g.: a citizen earning $25K paying 10% flat tax pays $2500 and can't put food on the table after paying rent and utilities; one earning $250K pays $25K and never misses it, in fact pays less tax with a flat tax than now!

I favor legislation that gives tax breaks to small business owners and more exemptions for individuals, who now bear the greatest tax burden (over 30% of Federal revenues). It is Econ 101 that we can raise revenues while lowering taxes; this is a simple fact, known as 'Laffer's Curve' to economists. Simply put; "You get more when you ask for less!"

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