Showing posts with label taxes. Show all posts
Showing posts with label taxes. Show all posts

Friday, October 11, 2013

Do you really...?

Support the troops.

That, for me, is both a statement and a question. The question is not whether to support the troops, but rather in what way should we support the troops. Also, in what way do the troops support us?
It has become rote in this country to qualify any critical statement about the military or military spending with a statement indicating that you support the troops - I do it myself. I guess it's because people don't want to be seen as patriotic or insensitive of young men and women sacrificing their lives for their country. But are they sacrificing needlessly? What exactly are our troops killing and being killed for? Is it really a security issue? Is the colossal expenditure of our national budget that goes to the DOD (not to mention other security-related issues) really worth it? Aren't the soldiers supposed to be supporting the ideals of our country like Democracy, freedom, equality, and rights? But if you think about it, our country doesn't uphold these things.
We have a Congress that is completely inept at working together and a general populace that does give one iota about supporting their fellow countrymen. We as a country are still plagued by racism, sexism, sexual orientationism, agism, regionalism, and probably many other -isms. We love nothing more than slicing our country up by as many demographic factors we can think of, and then doling out opportunity, power, and money to those that are deemed most worthy.
The irony of the military support is a lot of young members of the military come from places and circumstances that the people who support them once they're troops couldn't care less about. They're from poor, rural areas where the lack of opportunity forces them to find something to open up doors for them, and the military is often this option. Also, the people with those stickers on their cars tend to be the very people who support the troops only, but not where those troops came from or the the economic circumstances that drew them to the military in the first place. This is why we see so many young men and women who have completed their military service left in the lurch by these "troop supporters", because now that they're back to being civilians they have nothing to offer - whether it be security or a political statement. Veterans are ignored by these "support the troops" folks. This is very similar to the anti-choice protesters who care so much about the life of an unborn fetus, but once that baby comes into the world they care nothing about refusing assistance for food, medical care, or education. It's all hypocritical, political bull$hit.

Friday, October 5, 2012

Wow, isn't he the greatest...


Let me start by saying that by all appearances, Mitt Romney won Wednesday’s (10.3.12) debate. I wouldn’t say that he blew the president away, but he was more confident, had his numbers ready to go, and overall seemed a lot more comfortable attacking the president than the president did defending himself.
That being said, Romney’s presentation was full of a lot more vigor than substance. And it’s not that vigor doesn’t matter, but I think that it’s important to point out this fact before saying that the first debate completely changes the direction of this election. Regarding his tax policy, Romney was evasive, and presently a view that was starkly in contrast to that he has been presenting since the beginning of his campaign. The president pointed this fact out, but Romney shifted and said that he would do nothing that would add to the deficit; well Mr. Romney, unfortunately you can’t have one without the other. Either you plan to cut taxes and raise the deficit, or you plan to cut the deficit and raise taxes. And he scoffed at the president’s characterization of his tax plan as a windfall for rich people, but Romney – in typical fashion – went on some diatribe about the president raising taxes on the middle class and how he [Romney] wants to cut corporate and business taxes to help spur business. These two facts have nothing to do with one another. Obama’s tax plan would not raise taxes on small businesses, unless they’ve become large enough to where they should be paying a higher rate, or they pay corporate income taxes; either way, this would have no effect on such a high percentage of businesses, that pointing to the few that would be affected is ridiculous.
In addition, Mr. Romney continued to hammer the president on the Affordable Care Act, but failed to offer any alternatives to the president’s plan, or outline what was wrong with it, except to say that President Obama would be stealing over $700 billion from Medicare, which is a lie. The $700 billion dollars is how much less Medicare will be funded over the next ten years, but that will have no impact on how much seniors will spend, but will only impact the providers in how much they will receive (should be noted that this is what providers agreed to). Romney tried to tout his plan, while distancing himself from it; a strange position to be in for a person whose party considers the ACA a “government takeover of healthcare” and “socialist”. But Romney says that it was a good policy for the state, but not a good national policy; which is hard to understand why it isn’t. Wouldn’t the federal government be better of negotiating with giant insurance companies, rather than local government? What’s good for the goose is good for the gander.
Finally, Mitt Romney and the president went round and round about Social Security. Romney kept pushing the Ryan plan for Social Security, basically trying to pander to older voters and those already retired by saying that THEY won’t be affected by his policy, neglecting to mention the fact that those 55 and younger will have their Social Security prey to the open market under the Romney/Ryan plan. Certainly, Social Security in its current form is untenable long term, but policy-makers need to come up with a comprehensive strategy for creating a system that works, because millions and millions of seniors depend upon Social Security to live, and that fact is not likely to change anytime soon. But creating the voucher system where people will have to decide what they want to do with their SSA money is not the solution, and is more likely to create a system similar to the retirement system where some people will lose everything they have in the event of a major crash. It’s bad policy for a social safety net.
Bottom line: Romney may have won the debate, but that doesn’t mean that he did it honestly, or that it will translate to anything other than an email to send to supporters. His message is muddled, his policies are poor (and unclear), and he can’t seem to find any firm ground under which to stand, other than saying that we should elect him for the simple fact that he isn’t Barack Obama.

Thursday, August 16, 2012

But they're more important, aren't they...


Mitt Romney has thus far been unwilling to release more than two years of his tax returns. It’s not that he has to release his returns, but what Romney doesn’t understand is that while no one is going to actually force him to do so, not releasing them keeps the question in the air and will ultimately be answered by the American people during the election. Romney doesn’t get it. He’s whining, as if it’s the Obama campaign that is demanding the release. The Obama campaign knows he doesn’t want to release them, so having someone else like Harry Reid continue to press the issue is brilliant, because as long as people are suspect about why Romney doesn’t want to release them, they’re not thinking about the fledgling economy.
However, Romney’s reticence to release more than two years’ returns is not what I want to take about, it’s more about Romney’s general philosophy on taxation. Romney just released a statement today (unsubstantiated by documentation) that he has paid no less than 13% taxes over the past 10 years. Okay, let’s take that statement at face value; that would mean that Harry Reid’s “source” was lying, and that Mitt Romney had in fact paid taxes. However, 13% taxes is a MUCH lower rate than the majority of Americans pay, especially working Americans.
The standard rate is about 35%. Fair or not, that is what it is. However, most wealthy people pay much less that than, typically between 15 – 25%, if not less. The current Republican position is that capital gains and inheritance should be taxed at a much lower rate than income. Flat – that’s their position. So essentially what they’re saying is that they think that people who make money from doing nothing (and already have a substantial amount of money) should be taxed at dramatically lower rates (or nothing at all) than people who actually work. If I make $10,000 a year, I would pay roughly $3,500 in taxes. However, if I made $100,000,000 from investment income, I would only pay $13,000,000 in taxes (taking home $87,000,000), or none at all under they Romney/Ryan plan.
Romney says that the reason for the lower tax rate is because those people with vast sums of money invested are “job creators”; but Warren Buffet, one of the richest men in the world, makes the argument that people make investments to make money, not based upon what tax they will be paying. The reason the so-called “job creators” are not investing in the current economy is because it’s in the tank and they will not see a return on their investment.
Ultimately, this is an issue of supporting the country that supported you (Obama’s argument). Wealthy people have made vast sums of money over the past 3+ decades because of policies that cut their tax rates dramatically and allowed them to park their money in foreign countries. Also, a lot of their money has been made in investments that did little or nothing to actually create jobs, but instead were specifically made to create wealth (hedge funds, investment firms, etc.). Therefore, while their incomes and wealth have risen dramatically (nearly 400%), the real incomes of the upper middle, middle, and lower classes have either stagnated or even fallen. Literally fallen. The average income has fallen from about $36,000 in 1970 to $32,000 in 2010.
Since the wealthy have benefitted so nicely from these rates and policies over the last three decades, and since their wildcat investments drove our economy over a cliff, it’s time they started paying back. Even making the tax rate even across income/investment levels would be more fair than what we currently have. But what we really should do is cut out tax breaks and loopholes specifically designed for the wealthy, and create a graduated wealth and income tax that forces the wealthy to put in their fair share of income to this country that has benefitted them so much. If they don’t like the tax policies, they can leave. The country could use LESS people who are making vast sums of money toying with the market, but then paying nothing into the public coffers once they get their big payoff. Our country is hurting, and it’s obvious that Mitt Romney and those of his ilk care nothing for this country or the economy, but instead are still looking out for themselves and their wealthy friends.
Newt Gingrich charged Obama with stoking the flames of “class warfare”; and you know what, he was right. But the class warfare is not being waged by the poor against the rich, it’s being waged by the rich against the poor, and has been for generations. It’s about time a leader, and especially a president, highlight this issue and try and open the eyes of the majority of the people in this country who are being swindled by a bagful of citizens.

Tuesday, November 22, 2011

Funny math...

Something doesn't add up. Oh, right, it's the idea that we can make up a budget deficit of over a trillion dollars by cutting spending. Our total budget is just shy of 4 trillion, so the idea of cutting essentially one fourth of that seems ludicrous. This is the federal government we're talking about. Sure, there are several places where cuts are not only needed, but probably necessary, but that still does not mean that we can possibly make up the deficit simply by cutting out one fourth of all government expenditures.
And the - excuse me, but *bullshit* - idea that Republicans want to cut government for the good of the economy is just that - bullshit. If Republicans truly cared about the economy, they wouldn't call for cuts in only Democrat-supported programs, while supporting the continued massive tax cuts for the top 1% of income-earners in this country, that got us into this mess in the first place. Not to mention the fact that the "Bush years", where Republicans controlled both the presidency and all of congress, weren't exactly years of fiscal conservatism or austerity in the federal government. Republicans want smaller government...whenever the government is controlled by Democrats.
So where does that leave us? That leaves us the with politically unpopular (though not as unpopular as politicans would lead us to believe) decision to raise taxes. And I guess "raise" taxes is not really the proper term. We should simply let the unpaid-for tax cuts that the Bush administration put into place expire.
Two arguments Republicans make about this don't many any sense to me. The first is that letting the tax cuts expire on the richest 1% would hurt the "job-creators", and therefore would be detrimental to our efforts at stimulating the economy and creating jobs. My issue with this, as discussed in a previous post, is that this has proven to be demonstrably false. The so-called job-creators have NOT been creating jobs since these tax cuts have gone into affect, and have in fact been continually whining in an effort to get the rate even lower. The second argument is that we as a society should not continue to "feed" the government more and more money over time, because we're just creating a bloated system that doesn't actually use our money wisely. The problem with this argument is that operating costs increase over time; therefore it stands to reason that it would cost more money to run the government than it did twenty years ago - or even ten years ago. But somehow the Republicans believe that we can go back to some magical government expenditure amount that we had at some magical time when everything worked out perfectly. The problem is that there was never a time, and there is no magic number. Our government costs what our government costs. Should we eliminate or modify programs that dont' work...certainly. Should we try to eliminate waste wherever we can...of course (we could start by getting rid of congressional pensions and lifetime healthcare benefits). But overall, any business person has to admit that over time, the cost of operation goes up - that's a simple fact of life.