Tax the Rich?????

We hear this a lot these days all the way from the local level up to the federal. It's a popular outcry, but is that really the answer to our problems?

Just what does anyone think the "rich" do with their money. Other than maybe a few very eccentric ones, the rich do not stuff their mattresses with $100 bills. They buy houses and cars, both of which employ people in construction, manufacturing, real estate and other services. Some might have house keepers and grounds keepers; again, employing people (hopefully not illegal immigrants). Beyond that, they INVEST their money. They buy corporate bonds, loaning money to companies so they can build factories, buy materials and hire people. They buy municipal bonds, loaning money to municipalities so they can improve their infrastructure and thus make our towns more enjoyable to live in and providing jobs. They buy stock in companies, providing a source of revenue to enable growth in production, profits and employment. Some of the money goes in the local bank where it is loaned out so that others can buy houses and cars. Of course, when people buy houses and cars, someone has to build and maintain them... more jobs. And, many of the "rich" give large amounts of money to their favorite charitable organizations.

The next time you want to jump on the band wagon and bash the "rich" or "business", think of where the money that runs a successful economy comes from. The answer isn't taxes!! Taxes are only possible because an economy is strong, they cannot make it strong.

Reduce Payroll Tax??? - Part Deux

Why is there so much discussion about the estate tax and the tax cut for those earning above $250K in the mainstream media but zero, zilch, nada about the 2% reduction in the payroll tax. Why in the f^%$ does everyone (anyone) want that???????????? Please, tell me what I'm missing!!

Reduce Payroll Tax???

As much as anyone else, I'd love to see an extra 2% in my paycheck every week. However, how can we ignore the lesson learned from the Bush tax cuts that "expire" this year. Letting them expire is interpreted as a tax "increase" by almost everyone. Why do we think the Social Security payroll tax reduction will be any different next year. Within a year, 4.2% will become the new "normal" and going back to 6.2% will be accompanied by cries of "tax increase".

How do we avoid this? Simply do NOT include the 2% payroll tax reduction in the tax package. What are these idiots in Washington thinking??