Fiscal cliff looming includes personal tax hikes for everyone

The fiscal cliff includes tax hikes

The “fiscal cliff” composed of many elements is much in the news. Part of that is an increase in many taxes — not only income taxes on the “rich” — which will affect everyone in one way or another. The purpose of this writing is to attempt some plain language discussion of these matters and to assemble a variety of sources from all sides of the politics involved. (update: super set of charts – very understandable) Continue reading “Fiscal cliff looming includes personal tax hikes for everyone”

Alan Simpson and the Greediest Generation

united states currency eye- IMG_7364_web
united states currency eye- IMG_7364_web (Photo credit: kevindean)

Apparently Sen. Alan Simpson’s remarks of 2011 after coming out with the Deficit Commission’s recommendations, he is various reported to have said that the current generation of Americans was the greediest ever, or that the current seniors are the greediest generation. As I was fact-checking the letter reported below I discovered that Snopes had a fair amount of detail about it.

After Simpson’s remark, there has then been circulated about the internet a letter — sometimes anonymous and sometimes with a name (likely fictitious) — of the following tenor. It’s not important whether it is real, or not. But we can most of us appreciate the position taken. This is not a donkey or elephant thing — they’re all guilty!

To me the biggest complaint, as mentioned near the end, is the “entltlements” word being tagged on Social Security. Been paying into that for a long, long time.

Alan Simpson, the Senator from Wyoming, Co-Chair of
Obama’s deficit commission, calls senior citizens the
Greediest Generation as he compared “Social Security
to a Milk Cow with 310 million teats.

Here’s a response in a letter from PATTY MYERS in Montana …

I think she is a little ticked off! She also tells it like it is!

 

“Hey Alan, let’s get a few things straight!!!!!

1. As a career politician, you have been on the public
dole (tit) for FIFTY YEARS.

2. I have been paying Social Security taxes for 48 YEARS
(since I was 15 years old. I am now 63).

3 My Social Security payments, and those of millions of other Americans, were safely tucked away in an interest bearing account for decades until you political pukes decided to raid the account and give OUR money to a bunch of zero
losers in return for votes, thus bankrupting the system and
turning Social Security into a Ponzi scheme that would make Bernie Madoff proud.

4. Recently, just like Lucy & Charlie Brown, you and “your ilk” pulled the proverbial football away from millions of American seniors nearing retirement and moved the goal posts for full retirement from age 65 to age, 67. NOW, you and your “shill commission” is proposing to move the goal posts YET AGAIN.

5. I, and millions of other Americans, have been paying
into Medicare from Day One, and now “you morons” propose to change the rules of the game. Why? Because “you idiots” mismanaged other parts of the economy to such an extent that you need to steal our money from Medicare to pay the bills.

6. I, and millions of other Americans, have been paying
income taxes our entire lives, and now you propose to
increase our taxes yet again. Why? Because you “incompetent bastards”spent our money so profligately that you just kept on spending even after you ran out of money. Now, you come to the American taxpayers and say you need more to pay off YOUR debt.

To add insult to injury, you label us “greedy” for
calling “bullshit” to your incompetence. Well, Captain
Bullshit, I have a few questions for YOU:

1. How much money have you earned from the American
taxpayers during your pathetic 50-year political career?

2. At what age did you retire from your pathetic
political career, and how much are you receiving in annual
retirement benefits from the American taxpayers?

3. How much do you pay for YOUR government provided
health insurance?

4. What cuts in YOUR retirement and healthcare benefits
are you proposing in your disgusting deficit reduction
proposal, or as usual, have you exempted yourself and your
political cronies?

It is you, Captain Bullshit, and your political co-conspirators called Congress who are the “greedy”ones. It is you and your fellow nutcase thieves who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. And for what? Votes and your job and retirement security at our expense, you lunk headed, leech.

That’s right, sir. You and yours have bankrupted America for the sole purpose of advancing your pathetic,political careers. You know it, we know it, and you know that we know it.

And you can take that to the bank, you miserable son of a bitch.

NO, I did not stutter.

If you like the way things are in America delete this.

If you agree with what a Montana citizen, Patty Myers,
says, please PASS IT ON!!!!

P.S.

And stop calling Social Security benefits “entitlements”……WHAT AN INSULT
!!!!

I have been paying in to the SS system for 45 years…it’s my money…give it back to me the way the system was designed and stop patting yourself on the back like you are being generous to be dolling out these monthly checks.

 

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Never let a good crisis go to waste

And if you have run low on crises, then create one. Let’s see how that might happen. Summer of 2010 and into the fall, fail to pass a budget bill for the fiscal year beginning 10/1/2010. In spite of being in control of Congress and the Executive. Even after November 2010 elections, when still in control until the new Congress convenes, let the matter continue to languish. Still no budget.

Fast-forward slowly to spring 2011. Need a crisis (for a host of reasons). Continue reading “Never let a good crisis go to waste”

Can you comprehend the size of U.S. debt?

Let’s compare it to something we can visualize. First, what is the debt figure?

Click on the thumbnail and get a good look at what $14 trillion looks like written out.  A “14” with TWELVE places after that! And 15 cents. Check the clock for updates.

OK, $14 trillion. Now let’s think of something really, really huge and complicated that we might want to spend some money on. The object is to try to think of a monstrously expensive project. Continue reading “Can you comprehend the size of U.S. debt?”

I cut my spending, bet you have, now how about “them?”

GAO Chart Forecast Debt % to GDP
Image via Wikipedia

Read “them” as both state and federal legislators, but let’s talk about Congress now. There is much talk presently about reductions in federal spending, and much talk about not being able to get cuts through both houses and past the President’s veto. Read the article excerpted below (and browse the other budget analyses on the Heritage Foundation site) and then call your Congressional reps and senators. Continue reading “I cut my spending, bet you have, now how about “them?””

Keeping own property = benefit per Pelosi. The arrogance!

(edited to add a resource below detailing the changes)

Firstly, about this “tax cut” bill.  It’s not a tax cut.  The fiscally responsible folks in Congress stopped a tax hike.  The irresponsible ones, those who have no idea of what makes the U.S. economy tick and care little about individual rights, were trying to hike your taxes.  But secondly, the pandering rhetoric about the estate tax is more pathetic than pandering.  The gall of the (almost) former Speaker talking about the concession NOT to gouge successful people with a draconian estate tax as if that was a “benefit” is the height of economic class-warfare! Continue reading “Keeping own property = benefit per Pelosi. The arrogance!”

Thanks … for the stim-u-lus … Oh, well, it was swell while it lasted

GAO Chart Forecast Debt % to GDP

(To the tune of Bob Hope‘s “Thanks for the Memories” and apologies to him.)  By the way, you can subscribe to this blog in the box to your right.

What are the consequences of federal policies, and what is the message of the 2010 election? Continue reading “Thanks … for the stim-u-lus … Oh, well, it was swell while it lasted”