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Thursday, Nov. 27, 2014

Happy 2013!

Saturday, December 29, 2012

Our Congress is contemplating the next few months and how they are going to pay their bills. Welcome to grass roots America, elected officials. Most of them could see a resolution a lot sooner if they weren't trying to figure out which way and how far to lean to make things easier on them.

I am only guessing, but I'm willing to bet at least 90 per cent of our congressional servants make at least three times the annual income any of us make -- and that's not counting the money we pay them.

If they want to balance the budget by making laws about people who make more than $250,000 a year, they should first find any of their own membership that survive on that pittance.

Personally, I have never in my life made an eighth of that significant amount in a year's time. Our government considers anyone who makes less than that amount too poor to be considered "rich."

With the other large number of Americans who will never aspire to $250,000 a year with even a two-income family, that number sounds a lot like "rich" to me. So what is the problem with taxing people who make more than $250,000 dollars a year?

One side says if you tax rich people too much they won't put money back into industry. I've never actually spoken to any millionaires; but I've got my doubts that any of them invest in or start up other people's companies. They might expand their own and then hire more people.

I think most people who have a lot of money like to keep it. The more money they have, the more they want to hang onto it. If they make a big profit, they go on a bigger vacation.

The only time, in my humble opinion, extremely rich people invest in a business to help other people, is if they can count it as a tax write-off. Why do they need a tax write off? Because they worry about paying BIG taxes. If someone has to pay higher taxes, I say better them than me.

The other view is that if you tax rich people too much, they will just pack up their money and leave.

The United Kingdom discovered this difficult lesson when they raised taxes on the wealthy to 100 percent on income over a million dollars a year in the 1960s to cover the cost of their socialized medical plan. (That information is from a Beatle interview I read in a teen magazine as a teen and if the article can be trusted, hopefully my memory can as well.)

Many of the Beatles packed up and moved to America once they made over a million dollars a year. I don't know if they no longer had to pay income tax in Britain or not, but I assume they no longer paid property taxes if they had no property there.

The belabored point being that rich people pretty much have the funds to do whatever they wish, live where they will and avoid doing whatever seems annoying to them -- paying taxes for instance. They are involved in corporations and any government laws seem pretty insignificant from their viewpoints.

So if the taxes don't get paid by rich people because they leave the country, where will that leave us? Other than the fact that it might be interesting to see how many of our Congressional lawmakers remain in the country themselves, and how many move at least their bank accounts to some place else; we will be somewhere halfway down the cliff and picking up speed.

So if the rich can avoid taxes, where will the money come from to pay the loan interest to China? Like most pyramid societies, the poor must pay what the rich choose not to pay. There being so many more of we "po folks" available to pay.

Trust me, we people working for much less than $250,000 a year will be paying higher taxes. And taxes will rise every time Congress comes together for brunch and coffee every year until we either stop working two jobs to survive or just say no.

What can we do? Tell Congress all elected jobs are now considered volunteer offices for anyone with an annual family income over $250,000 a year. That might help government spending a little. And they can afford the cutback much better than most seniors on Social Security can.

Until the next time friends, remember, 2013 will be an interesting year. Bring your parachute and climbing equipment.

Nancy Malcom
The Third Cup