Tuesday, February 8, 2011

Am I a Republican?

I was just looking over my financial mess and suddenly realized that I must indeed be a Republican!

The Republicans want to defeat the Obama health care bill, which according to all reports will increase the deficit by some $145 Billion. They just forced through the extension of the Bush tax cuts which adds a cool $850 Billion to the deficit.

This is in line with cutting the deficit?

Anyway, it seems that the country, that would be the good old USA, collects almost enough in Taxes to pay for a little more than 1/2 of it's expenses. The other 40% or so it borrows. I'm not sure how long that can go on. And I'm not sure how adding to the deficit helps it either.

But that ladies and gentlemen is how it has finally come home to me why I must be a Republican, because that is how I have been running my finances. I spend way more than I earn, (No one else does that do they?) and I borrow to make up the difference. When I see something that I can't afford, I buy it!

But please don't call me a Conservative Republican, I would never go THAT far! I'd try to rein in my spending and increase my income before I would go there.

You increase income by increasing taxes. I know "Cutting taxes" has a great sound to it, and is GUARANTEED to get you votes. But why do we insist on cutting taxes to people who have so much money that it is absolutely disgusting.

Had the Bush tax cuts been allowed to expire the 4% additional tax that the richest 2% of Americans would have paid would have fixed Medicare for 75 years! Just 4% additional tax. The 1% of richest Americans pay just 16% of their income in taxes - far less than you and I pay. And we INSIST that they should pay even less! Why? Is it because we think that we will one day be in that position?

Even Warren Buffet, the second richest American says the tax system in the US is ridiculous, he pays less tax than his secretary pays, is what he said in an interview!

CEO"S of large companies in 1970 made 50 times what their average employee made. Yes I agree way too much. But in 2010 they made 500 times as much as their average employee! If they continued to make 50 times as much that would free up enough money for that company to employ/pay an additional 450 employees! And he, the CEO, would still be making way more than he should. (And that is just the CEO, there are dozens of other 'top management' people making similar ridiculous salaries.)

The 'income gap' in this country is way out of line. It is bigger now than it has ever been, either in this country or in any other country, ever. The top 1% of Americans "earn" 26% of the total income of the USA! (In 1970 the top 1% made 8% of the total income of the USA) Where will this trend end up?

These Mega Rich completely control the money in the US and probably in much of the rest of the world. Certainly they control Congress, the Senate, Banks, Wall Street - you name it. And we want them to have even more - so we vote for them to pay even less taxes! See, they even control us!!!!

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