My Point of View of Florida Income Taxes and It's Equivalent Tax , the Real Estate Tax.
As Citizens of the State of Florida we have to understand that the State has
two principal tax revenue sources, the first is the Florida Sales tax and
the second is the Real estate taxes charged by the respective Counties of
course there are other methods of Tax funding but, these two are the topics
covered in this discussion.
Most of the States of the Union have a State Income Tax Revenue source in
addition to their Sales Tax Revenue Source. In our State of Florida we have
zero Income Taxes at the individual level and a small Corporate Income Tax. We must also understand that thousands of corporation have elected to
become S Corporations which are exempted for State Income Taxes.
The State of Florida government is tied to the funding sources permitted by
our constitution. So for me is evident that the Real estate Tax is the
substitution for other State Income Tax Revenue.
So those are the major funding sources in place created in our State in
addition to the so called FEES (taxes in disguise) . Our politicians must
understand that economies have contractions and budget and services must be
adjusted accordingly.
Real Estate values have decreased substantially the last couple of years, so
our income tax equivalent (Real Estate Taxes) have decreased. Florida
coffers have been depleted. It is not business as usual.
Services at the State and local levels will have to adapt to the
decrease in budgets due to decrease on tax revenues.
We want a government that we can not afford, our government structure was
created to serve us and not to hurt us. Almost every family, every
taxpayer, every small business is suffering in these economic times and we
have modified our budgets in this contraction.
If we still want a government that we can not afford, then higher taxes are
the solution. We need a government that we can afford and if that means
cutting services to accommodate the shortfall ,so let it be. We can not
mortgage the future of generations to come, it is truly irresponsible and
abuse of power
PADRO & Company, P.A.
Certified Public Accountants
TEL. 305-500-9361 FAX. 305-500-9492
2520 NW 97 Av. Street. Suite 120 Miami. FL. 33172
http://www.padrocpa.com
http://www.twitter.com/padrocpa
http://www.facebook.com/padrocpa
Any tax advice included in this written or electronic communication was not
intended or written to be used and it cannot be used by the taxpayer, for
the purpose of avoiding any penalties that may be imposed on the taxpayer by
any governmental taxing authority or agency.
Sunday, October 11, 2009
My Point of View on How Outsourcing is Affecting Social Security
My Point of View on How Outsourcing is Affecting Social Security.
Our Entitlement pyramid is crumbling and outsourcing is one of the culprits.
We are creating an inverse pyramid by having less employees contributing to
support the present time retirees.
The outsourcing business has a detrimental impact on U.S.
Employment, the U.S. Economy and the U.S. Treasury, because the
money is expended abroad and normally it does not come back.
The outsourcing business is growing day by day in America.
Employment (payroll) is the basis used in theory to calculate future
benefits.
When you outsource a job:
U.S. may have a unemployed american.
U.S. will not received Social Security taxes from this unemployed American.
U.S. will not receive Medicare Taxes from this unemployed american.
U.S. will not benefit from consumer spending from this unemployed american.
U.S. will have to cover the uninsured through medicaid because this
unemployed american.
U.S. will lose all the direct and indirect benefit of having that unemployed
american working.
U.S. is exporting its working capital.
U.S. must maintain quality in education so our jobs are not exported to help
other countries. We need the help ourselves.
Our social security program is in trouble Our Medicare program is in trouble
Our health insurance industry does no contain cost.
Our future retirees are in trouble.
Jose F Padro
2009
Any tax advice included in this written or electronic communication was not
intended or written to be used and it cannot be used by the taxpayer, for
the purpose of avoiding any penalties that may be imposed on the taxpayer by
any governmental taxing authority or agency.
Our Entitlement pyramid is crumbling and outsourcing is one of the culprits.
We are creating an inverse pyramid by having less employees contributing to
support the present time retirees.
The outsourcing business has a detrimental impact on U.S.
Employment, the U.S. Economy and the U.S. Treasury, because the
money is expended abroad and normally it does not come back.
The outsourcing business is growing day by day in America.
Employment (payroll) is the basis used in theory to calculate future
benefits.
When you outsource a job:
U.S. may have a unemployed american.
U.S. will not received Social Security taxes from this unemployed American.
U.S. will not receive Medicare Taxes from this unemployed american.
U.S. will not benefit from consumer spending from this unemployed american.
U.S. will have to cover the uninsured through medicaid because this
unemployed american.
U.S. will lose all the direct and indirect benefit of having that unemployed
american working.
U.S. is exporting its working capital.
U.S. must maintain quality in education so our jobs are not exported to help
other countries. We need the help ourselves.
Our social security program is in trouble Our Medicare program is in trouble
Our health insurance industry does no contain cost.
Our future retirees are in trouble.
Jose F Padro
2009
Any tax advice included in this written or electronic communication was not
intended or written to be used and it cannot be used by the taxpayer, for
the purpose of avoiding any penalties that may be imposed on the taxpayer by
any governmental taxing authority or agency.
Subscribe to:
Posts (Atom)