Posted by
Dr. Ray Usell on Thursday, September 11, 2008 1:45:22 PM
A TV interviewer asked Sen. Obama why he wanted to raise the Capital Gains Tax when history shows that raising it decreases federal revenue and lowering it increases revenue due to the impact taxes have on economic activity. His answer was "out of a sense of fairness".
I wrote the speech below for friends that often travel abroad. As you read it, decide whether these are the thought processes you want to drive tax policy. Please forward to anyone that may be interested.
Welcome President Obama.
My fellow Americans, I come to you tonight to announce a new Fairness Doctrine, the first of a series. This one is called "The Foreign Travel Fairness Doctrine".
As you may know, a small minority of our citizens flit around the world on lavish vacation after vacation, while the rest of us stay home. This is plainly unfair. It is unfair to the rest of us and it is unfair to our Fellow World Citizens who only see a narrow portion of our population.
To rectify this unfairness, I announce a three part plan.
First, I will create a "Foreign Travel Fairness Tax". And, to be fair, I will set the rate at only 50%. Here is how it works. If someone travels abroad and spends, say, $10,000 for the trip including transportation, fees, food, tips, gifts,...everything, upon their return, they owe $5000 in tax. This money will partly fund parts 2 and 3 of the plan.
Second, this is a job creation plan. I will create at least 5000 new IRS positions to work out the details of the tax, create reporting forms, and most importantly, conduct foreign surveilance to detect potential loopholes and tax avoidance schemes. This extensive foreign travel will expose our Fellow World Citizens to our middle class working population.
In addition, thousands of new H&R Block and other tax preparation jobs will be created to help travelers with the complexities of reporting.
Third, this plan includes giving "deserving poor" the opportunity to travel. The Foreign Travel Fairness Tax Rebate must be given to our poor that have demonstrated a willingness and ability for foreign travel. Therefore, we will give the Rebates to illegal immigrants who have, by definition, demonstrated their mobility. And while we are at it, we'll make them citizens, hopefully by next November or for sure the one after that. This will give our Fellow World Citizens exposure to our poor.
I have proposed this Comprehensive Fairness Doctrine out of my firm belief, that the duty of the Federal Goverment is providing Life, Liberty, and the pursuit of Fairness.
Thank you and good night.