[Vision2020] OMG I hijacked a subject!

[Scott Dredge]

GS wrote:
> I'm making a point that I suspect, despite all "no increase in
> taxes" claims for the "middle class", we will indeed see an increase.  So I'll
> make a note on my calendar and revisit this issue in due time and report on
> how taxes have increased, decreased, or remained constant.  Deal??
Glenn how's this deal...'I DON'T CARE!'  Taxes may go up.  Big whoop.  As long
as anyone who wants a job can find gainful employment, then it would be
better than what we have right now which is constant job losses.


GS continues:
> Of course one would be paying more taxes if one is generating more income - no
> problem there.  What I find abhorrent is the idea of "spreading the wealth" by paying
> much much more in taxes than Bob the Builder simply because I make more than some
> arbitrary figured deemed to put me in the "rich" category.  (Currently I think that was
> $250,000 but I'll bet we see that drop down to the $100,000 range over the next 4 years).
> I find this to be nothing more than a penalty for being successful.  Wrong, wrong, wrong,
> by any standard, wrong.  IMHO.
I look at taxes as a way to support an infrastructure that allows me to me to make money.
If taxes are cut similar to the George W. Bush tax cuts and the infrastructure cracks as it
has now with the housing and stock markets collapses, then the money saved by the tax
cuts is overwhelmed by the values lost in assets.  Bill Clinton raised taxes, had a surplus,
and presided over the greatest peacetime economic expansion is US history.  You can
blow smoke all you want about how 'unfair' the system is for providing you a way to
generate as much income as you want.  The income tax is bracketed.  You pay the
exact same amount of taxes on your taxable income as Bob the Builder does as you
both move in parallel through the same bracket.  Once you exceed Bob's income you
continue to pay whatever tax rate is assessed per that dollara level amount as you
continue to move through the brackets.  You continue to pocket money as you earn
it which is your reward for being successful.  If avoiding tax is of more importance to
you than pocketing money, then consult with your accountant and financial planner
to find out legal ways of lowering your taxable income.  Me personally, I find financial
planners who tell me ways of staying out of top tax bracket worthless.  I would prefer
that they point me in the right direction to blow through the top tax bracket every
year because once again, that would mean more money in my pocket rather than
avoiding increasing my earnings in some cockamamie attempt to reduce my taxes.
Bitch all you want about taxes.  It's your problem to solve, not mine and you and I
obviously have different goals.  Mine is maximizing income, yours is minimizing taxes.

GS finishes with:
> I'm only suggesting that if Obama will not or cannot make good on his campaign promises
> (and I'll give him more than 3 times as many days) public perception and approval is going
> to fall.  Certainly it will take time to do all he wants or hopes to do, but I think a year
> should be enough to see any significant move towards these issues.  Side point:  I noted
> in his acceptance speech he's starting to backpedal already with "It may not happen in
> a year.  It may not happen in our first term."  Time will tell.  GS

Obama is going to break campaign promises??? Say it ain't so!  The American public has
no memory.  They only care about their pocketbook and possible government services.
As the economy goes, so goes the approval rating of the President and Congress.  And
yes, time will tell, but I'm not going to sit around and wait for the elections in 2010 and
2012, instead I'll just enjoy living for today while planning for the future.

Time will also tell whether you, GS, will be lamenting when Obama and Dems are voted
out of office.  My prediction is 'No'.

-Scott

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