Sure Warren, I’ll pay more taxes, but only if ...

And I want one more thing. I want transparency. The way the government publishes information on money it spends, receives and owes is a joke. No one in this country has any real knowledge of how much our country really owes. There are so many hidden and unpublished liabilities that if our country were a public company, someone would go to jail.

The accounting data of this country is public domain information. There is no reason why it can't be published if not in real time on a government Web site, or at least quarterly. Money coming in. Money going out. Money that is owed to us and from us. It is currently being recorded somewhere, and someone has responsibility to collect it or pay it. So it can be published.

Then every quarter, our federal government can publish an Income Statement and Balance Sheet according to GAAP principles. It wont be perfect, but it will be a hell of a lot better than what we have today.

Without complete transparency, politicians will do what politicians always do. They find ways to play with our hard-earned tax dollars and put a lien on our current and future earnings, and that of our kids and grand kids just so they can get elected and re-elected. That's just wrong.

So if Warren Buffett wants the Forbes 400 Rich to pay more taxes, great. Then Warren also needs to ask the two candidates he is supporting to do the same thing he would ask of any company he is investing in. Show him accurate, up-to-the-minute accounting data with transparent information supporting every number.

When that happens the government can take more of my money if they need it. My guess however is that when the citizens of this country see how much we really owe and where the money is being spent, and the short and long term implications of our politicians spending like addicts, they may start voting for those who respect the value of a dollar.

Will your candidates agree to this Warren?

I also have one more tax suggestion that I think will create so many jobs in this country that it really won't matter what else our politicians do.

If we really want to stimulate job creation in this country, take the same approach to small business with fewer than 25 employees that we take to Internet taxes. Outlaw them.

No taxes of any kind on small businesses with fewer than 25 employees. No employer payroll tax. No state or local taxes. No taxes on earnings. Nada. The business owners will pay income taxes on their personal income they pay themselves, but not corporate earnings

The only taxes they would collect and remit are sales taxes, the employee's portion of payroll taxes and of course they would still file personal income taxes on their individual earnings.

Today starting a business today is so frustratingly tax-and-paperwork burdensome that it requires hiring experts on taxes, state and local, just to get started. That is more of an impediment than trying to actually make the business work as a going concern. It also pushes businesses underground so that they can operate on a cash basis away from the tax collector. I would rather have entrepreneurs think twice about their 26th employee than whether or not they think its worth the hassle to start up a licensed business.

Those are my ideas. I have no illusions that any could actually happen.

UPDATE: For some reason some people seem to confuse the Luxury Tax of 1990 which put surcharges on minimal pricing thresholds of $10,000 for jewelry, $100,000 for boats and $25,000 for planes with what I am suggesting.

Thresholds that low are not what I had in mind when I offered a $100 million yacht and a $49 million jet as examples. For those who would rather conclude rather than ask, lets just say that nothing with a cost of under $10 million would be subject to a surcharge. And I will remind everyone that I would only support this IF government spending was reduced and transparency was introduced. For some shocking reason bloggers who have linked to this post don't seem to comprehend the whole of the post.

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