Paris, 16 years of data show that "trickle down" economics doesn't work. And the tax rate for the upper 1% in the proposed budget is lower than during the Clinton administration, it's a compromise.

Outsourcing occurs because it is cheaper to pay someone pennies per hour in a Third World country than to pay a living wage in the U.S. I like that Pres. Obama spoke about giving tax breaks to companies that bring jobs back home.

Very nice write-up Paris!

What we need more than anything is complete tax reform made up of lower across the board rates made possible by an expanded base and responsible / balanced budgeting and spending. After all, everyone should be made to pay because everyone gets to play, but no one should be arbitrarily punished merely for being successful.

For some reason or another, the only party that is even talking about tax reform is the GOP, while the Dems appear to be married to using the current tax code to play class warfare with.

Hoffa's proposed federal tax code (subject to revision):

Federal Sales Tax (applicable to ALL transactions): 1.85%

Federal Income Tax (applicable to all gross income and eliminates income adjustment - deductions, exemptions, itemized write-offs, loop holes, eit credits, etc., except in limited circumstances as is necessary to facilitate fairness):

$0 - $75,000 - 9%
$75k - $150k - 10.5%
$150k - $225k - 12%
$225k+ - 13.5%

Federal Cap Gains Tax (short & long term, bracket neutral): 15%

Federal Corp Profit Tax Non-Manufacturing (offset only by legitimate losses for up to 3 years carried forward): 15%

Federal Corp Profit Tax Manufacturing (offset only by legitimate losses for up to 3 years carried forward): 13.5%

All other federal taxes, with the exception of the federal excise taxes on petro fuels, alcohol, and tobacco products and trade tariffs/taxes with unfair trading nations, will be eliminated.

Patrick, the thing is, when taxes on the rich are increased, it is naive to think it is used to pay the debt down. We all know the debt goes even higher because, hey! there is more money to spend!

Bren, yes, Obama talked about it. And about many other things that did not happen.

And nice job, as usual, Paris P!

Paris.... wonderful write up.... surprised at the comments... it was written easy enough for ANYONE to understand...

Bravo! Well said!
Cynia is right- anyone can grasp this. Those that say they can't, are those that complain about anything the right does or says. Clearly, you're much smarter than our president. Then again, so is my pet hamster. Nevertheless, great point, excellent piece. Can't wait for more!

Paris - And so, the rich people run to the Bahamas for their luxury yachts instead of helping the good ol USA and its workers? And we, the common man, should cheer them on? At least they could is just not buy a yacht under those conditions, but that would be an undue sacrifice wouldn't it, poor babies! What an incredibly self-defeating example of why we should love and admire the mansion and yacht crowd, and support their every desire. Just another example of fleeing to tax havens and lowest cost labor while acting like they are concerned about the future of America. .Wave the flag boys, let's be concerned about rich people and their luxuries, maybe they will throw us a few trickles..

Outstanding perspective Paris. You mentioned "evil" Big Oil. When you understand business, you understand profit margin. The oil companies have around a 10% profit margin. Microsoft has a 34% profit margin. Harley- Davidson has a 27% profit margin.
Who's gouging who? The media will jump all over astronomical oil company profits, yet they don't mention the much much larger amount of sales. The LEFT doesn't get that. I don't have any ties to "Big Oil" or even the Koch Bros. for that matter. But I do believe in the free market, smaller government is better, and they can't spend money they don't have.

Paris - “I think I speak for most Wisconsinites when I say to David Koch, ‘Get out of Wisconsin and take Scott Walker’s dangerous agenda with you,’” Democratic Party of Wisconsin Chair Mike Tate said. He said this Monday . Who are the Democrats he is trying to bribe? Everyone should know, please name them.

Good Job Paris!

Never mind these liberal agitators like Ruble and Schmitz, they are has been 60's reject flower children still waiting for the Age of Aquarius.

LMAO@Rob...Dangerous to whom? The liberal? The union worker? You preach fairness from both sides of your mouth?
Or is it that the "Silent Majority" is not so silent anymore that has you scared?
Paris - Excellent summation of the true nature of business!
For those liberals out there reading this and spouting venom at the truth of the matter, one thing should be added...Take a business class once. You will see that there is a formula which most PRIVATE business regulate themselves by. This formula (in basic terms) means that the business has to have a certain percentage of profit to stay in business, so you tax them, they raise the price of the goods to keep the formula in balance - to STAY in business. Simple. Now, you can whine and complain that they make too much, but these are STANDARD operating procedures...If only our government would run under the same principles, there would be no arguments on any side!

The "evil" Koch brothers own property worth billions in WI while employing over 3000 folks, they have just as much right to support Mr Walker as you flea bag frumpy miscreant union members have to support whatever candidate they chose.

That's right Ron, bye bye to my six figure income and my $1000 a month property taxes to a state that values folks like me. Good luck splitting pennies.

When you submit a new blog post, and you do not upload an accompanying picture, is your profile picture used by default?

@Paris Procopis...Patrick Ford is correct about this being a pretty weak "straw man argument". Enhancing the wealth of the wealthiest members of our society doesn't make conditions any better for the rest. We have gone through a four decade experiment of supply side classical macro economics and it has led us directly to the financial conditions we now find ourselves in. The removal of meaningful and enforceable financial regulations has been devastating, plus we are far under the marginal tax levels, underfunding government operations. In keeping with the ideology of the right, by starving the beast of government will force government to grow smaller. That is not the case, it only causes greater deficits and greater debt. Government revenues must be increased as we make significant reductions in government expenditures, beginning with the Department of Defense. In addition it is imperative to return capital gains tax back to 25% and terminate the "Bush Tax Cuts". Always cutting taxes is just fiscal irresponsibility.

Concerning passing on tax increases to customers will only work as long as you don't pass the price point where people will not purchase. Often tax rates become a fixed variables and profits will have to be up with better sourcing or higher volume. However, each industry is different on how they price and source.

For those that are interested, I am a retired business executive and entrepreneur.

You must be a failed retired business executive and failed entrepenuer if you do not understand economics.

So of course the only solution is austerity right? See how that's working in Europe as economies such as Greece are in a death spiral. As civil service postions are cut unemployment soars. Government jobs from teachers to firefighters are jobs created by the government, contrary to the Tea Party line. Tax rates are at historic lows and yet are economy is still struggling. Job creators do not create jobs unless there is a demand for their product, taxes have nothing to do with growth. Why don't we return taxes to where they were in the Reagan years?

Wow did we dodge a bullet here by not having you in the primary Mr. Pokrandt. Why didnt you spew this leftist propaganda when you were talking to me at the library? You did a good job of sounding conservative.

I can only assume it is leftist propaganda if you don't understand the problem in Greece. Greece destroyed the private sector(what is made in Greece, think about it) so austerity is the only solution.

@Kell - The debt crisis in Greece was primarily caused by the Great Recession, and the resultant devastatng decline in its two main "exports", tourism and shipping. And yes, in the good times, Greece got too generous with social benefits, agreed, and got caught by the unforeseen world conditions. Conditions that brought down many otherwise astute corporations and investors.
Now, backing into the root cause, what caused the Great Recession? Socialists? Most everyone attributes it too the overly optimistic, out of control, greedy, even corrupt banks, hedge funds, investment houses, mortgage companies, etc. Hardly a Socialist among that group, or even a Democrat.