PostHeaderIcon Too Much To Stomach

Obviously, I have not been much of a contributor lately, mostly because we are traveling in our RV and are more focused on genealogy research than politics. Frankly, it has been a bit of a relief to ignore the political circus for a while. However, the Obamanation’s so called “jobs plan” is simply too much to let go by without a bit of venting.

In the first place, the level of intentional distortion has reach new highs with this latest proposal. And, the dumbing-down of America is paying such rich dividends.

The most irksome thing to me has been the constant harping about the need for fairness in our tax system. Seems that every progressive talking head has taken up the mantra that there are all these millionaires and billionaires who pay less income tax than Warren Buffett’s secretary. This nonsense grates on me until I want to scream! To begin with, I do not know of any person in the United States who enjoys a salary in the billions per year. An precious few, most of them sports figures and entertainers (and most of them Democrats), have incomes in the millions per year. Ergo, when the progressives speak of millionaires and billionaires, they are actually speaking of a person’s net worth, not their income. Most of the truly wealthy people in America are “rich on paper”. That is to say, most of their wealth is in the form of stocks and bonds and is measured by the presumed value of those instruments at any given time. Stocks, bonds and other financial instruments are not legal tender – they cannot be spent like money. The act of converting these instruments to legal tender triggers tax events that are anything but 0.

I get the impression that the dumb asses think that people like Buffett and Gates have special rooms in their basements, stacked floor to ceiling with cold, hard cash. We know this is not the case because these people did not get rich by being stupid – and leaving large amounts of cash idle would indeed be stupid. Amazing though it must seem to the ignorant masses, it is entirely possible for a person to have billions of dollars in assets yet, in any given year, have 0 taxable income. Is this what they mean by “not paying their fair share”? Our income tax system does not tax unrealized income, which is what the accumulated gain in assets represents. In fact, there is no rational way that it can because an unrealized gain of millions can be reduced to 0 simply by changes in the markets. Ergo, the only “fair” way to tax accumulated gains is to tax them when they are “realized” – that is, when they are converted to actual money. By what conceivable logic is this unfair?

Yet, the leaderless GOP seems totally incapable of articulating a rational response when the progressives harp about “fair share’. So far, the best they seem able to do is whine about taxing the job creators, which, while true, does not resonate with most voters nor does it explain the actual flaw in the progressive argument. Just yesterday I heard Steve Forbes, in an interview, give a very simple explanation of the issue so I know it can be done.

However, as noted in an earlier blog, the Obamanation does not expect this nonsense to be passed anyway. All he is doing is positioning the hapless GOP congress as the boogey-man he will campaign against.

Speaking of setups, I smell another. While I have yet to discover a shred of evidence to support this claim, I cannot help but suspect the Palestinian request to the UN to be recognized as a state is nothing but a sham. I think the Palestinians are making this request for the sole purpose of allowing the Obamanation to instruct his UN ambassador to veto the move, thereby allowing the Obamanation to paper over some of his past anti-Israel rhetoric by giving him a pro-Israel action to crow about in the campaign.

Along this line of thinking, I further suspect the Obamanation will seek to manipulate other world events to aid his campaign.

Think about it.

Troy L Robinson

3 Responses to “Too Much To Stomach”

  • I further suspect the Obamanation will seek to manipulate other world events to aid his campaign.

    I doubt any sane individual would disagree.

  • Daedalus says:

    The only long term item to restore jobs is to make the US the home it once was for manufacturing. GM is talking about sending the Volt to China, what a brilliant move to get rid of that piece of junk and focus on manufacturing “real” cars. Lets permanently do away with the corporate tax and see what happens. In the mean time we can start selling off the public land to retire the national debt. Thus reducing the Federal need for dollars for interest payments. The big anti industrial vipers nest is all the rules and regulations which stop or impede new business development. This is the Gordian knot and might require a similar solution to Alexander’s.

    • Troy says:

      Right you are. And, did you hear a few weeks ago that the next Ford plant built will not be in the USA — India if I remember correctly.

      As to selling public lands, not only will that bring instant revenue into the federal coffers, it will help the states by adding that land to their property tax base. The only caveat is that before such a plan is accepted, there needs to be assurance that the proceeds go to retiring the debt and not to some new vote buying scheme.

      Before any of that can happen, the GOP must nominate a real candidate, one who can beat Obama and who is willing to make serious changes. The lame-stream-media, Fox News sadly included, have already decided that the GOP race is between Perry and Romney, aka Tweedle-dee and Tweedle-dum. The media increasingly tries to hid the fact that the straw polls are being won by the likes of Ron Paul and Herman Cain. Plus they hardly allow governor Johnson to speak, despite him being, IMHO, the best candidate by huge margin. The whole process has become sto totally corrupt that one cannot trust poll results, cannot trust anything spewed out by the lame-stream-media, and one must be very circumspect in what one accepts from the Internet. It has gotten to the point where we may need Iraq to send people to observe our election process for (lack of) fairness. The more I watch this crap, the more depressed I become. Our liberty hangs by a fraying thread.

      Troy

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