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DATE:  3 AUGUST 2011

RE:  'CUT, CAP & BALANCE' - UNENDING UNCERTAINTY

Gentlemen:

I pulled the following excerpt from August 3, 2011 WSJ article: *Unending Uncertainty in The Morning Ledger, David Hall Editor. It reiterates my point of changing our entire system of taxation to one which no longer allows corporations and independent investors to exploit loopholes and create tax shelters by going offshore and other means.  It also broadens the tax base like no other plans.

Before considering the following details, please consider the Automated Payment Transaction Tax, already developed and provided at URL: http://www.apttax.com for public viewing and dissemination. The summary is brief, to the point and .PDF versions available for download at no cost. Note: This is not to be confused with “Fair Tax” proposals, nor similar in any way except its method of collection.

*[Current Treasury Secretary Tim Geithner, meanwhile, says in a Washington Post op-ed that the debt deal is the “beginning of restoring fiscal sustainability.” Erskine Bowles and Alan Simpson, who headed the much-ignored bipartisan National Commission on Fiscal Responsibility and Reform, argue for tax reform among other things in a NYT op-ed today:

"We need new revenue to finance the increasing costs of our health care system and an aging population — but it should come from reducing or eliminating tax breaks, not from higher rates. The tax code is riddled with annual tax breaks amounting to $1 trillion — most of which are just government spending in disguise. By reforming them, we can reduce individual and corporate tax rates in a way that keeps the tax code progressive while promoting economic growth and reducing the deficit at the same time."]

I would add that at some point, if not already, due to attrition, given the growing sector of aging and retired citizens, there should be a point at which the upward trending benefits curve will stop rising.

These deserving retirees on Medicare / Medicaid / SSI cannot live forever, hence they will no longer need or draw benefits.  Until they stop breathing, they are entitled to every penny they have coming to them.  Raising the statutory age of retirement is simply out of the question!

When perusing the 2012 Federal Budget Proposal and various formulae used in the Cut, Cap & Balance legislation, a couple of items surfaced that may be of interest in cutting spending without disturbing necessary programs, one of which are the salaries of Executive Aids and Staff, e.g. czars which have not been approved by the House or Senate.  Note: I learned early in life from grandma that “turn-about is fair play.”  Enough said.

Second would be to cut the salaries and pensions of the estimated 22 million public sector employees by as much as $10,000 / each, annually. The follow-up to this would be to begin reducing this massive bureaucratic overhead by cutting back the number of agencies and employees along the lines of 100,000 employees per month for the next 10 years, yielding 12 million reduction. You can automatically see potential net gains in revenue.

I trust the above information is helpful, and meets with your line of thinking relative to fiscal responsibility.

Please advise if further assistance or personal reference is desired.

Respectfully,

Robert William Butler Jr

Houston, TX 77086
Phone: (281) 973-6863
Fax: (901) 234-9961

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