Obama Will Give Me An “A” For This One(Edited)

My Flag Flies Everyday

My Flag Flies Everyday

One of my good friends called me on this one. She pointed me toward Snopes. It turns out that Nancy Pelosi never proposed taxing 401K plans.  To see her entire proposal check it out on Snopes. In the meantime I’ve editied my post below to correct my mistake.

http://www.snopes.com/politics/pelosi/windfall.asp

 

WOW! Taxes on the rich, the middle class, and the poor. Stimulus money galore, bonuses for the fat cats, Deficits going out of control, what else?  Nancy Pelosi recently said the following “…windfall profits and income created by the Bush  administration need to be taxed at 100% rate and those dollars redistributed to the poor and working class.”

Well my 401K is a part of this category of investments. If they are to be taxed 100% why have a 401K at all?

They were  set up so “we the people” could have a way to raise money for our own retirement. We needed the 401K because Social Security is not going to be here much longer. Worse yet, try living on SSA alone. You will have to learn to like cat food . Don’t be in such a hurry Nancy, we’ll pay taxes on the money, after we begin to use it. She wants to tax it as we go along. Like I said, why even bother to have a private pension fund?

The one thing I haven’t heard anything about is taxing campaign funds. Why not? The weasels are getting millions to spend. They use the money for all kinds of personal purposes other than running a campaign. Why did Blagojevich work so vigorously to build his fund?  If we have to pay, why not them too?  This is another case of our politicians forgetting who they work for.  Once they get a taste of money from outside interests they set themselves apart from the rest of us. They begin to think of themselves as demigods.
I think a Senator or Congressman should be taxed ninety percent on his salary, and campaign fund. In fact, I think that is being too liberal. They should work for one dollar per year, and be required to use campaign funds to pay off the deficit. They create the debt, let them pay for it.

Yep! Tax the campaign funds; it’s the best idea I’ve had today. .

Subtrafuge

Obama's Spending ChartIn my business, I was taught to look for places to cut costs. This is a graphic world. We can process information easier if we see it graphically. POTUS has been spending money like a drunken sailor, and it’s been bothering the heck out of me. The most recent dialog on the news concerns the massively huge bonus package being given to AIG out of the bailout money from the government.   I agree, one hundred sixty five million dollars is a huge amount of money. It is so large that most people can’t process the number. Most likely because many of us accumulate much less than a million dollars over fifty years of hard work.  Those who do amass that much can retire,  as long as they also receive Social Security. The population is angry that we donate our tax dollars to save a failed company, and then reward the men who caused it to fail with bonuses twenty times larger than a typical nest egg.

What I can’t understand is why the citizens of this good country aren’t upset with the antics of our elected  representatives. The chart above shows it clearly.  All I have done is graph the costs of the federal budget, and the various bailout bills next to the cost of the AIG bonuses. The left side of the chart is graduated in trillions of dollars. I ask you this; if  this chart represented your personal expenses, and you had to trim your spending, where would you look first? Which area would produce the most benefit if it were attacked looking for savings?  Do I have to explain further?  Lee Iaccoa, chairman of the Chrysler Corp wrote that he could cut ten percent out of any budget and no one would notice. Ten percent of the first bar on the chart amounts to three hundred and fifty billion dollars. Any one with a brain could trim that bar deeper than ten percent. If you have a job in manufacturing in the USA you are faced with making cuts of that nature everyday. There are many qualified people who could see where to make cuts. Most of these people are managers, accountants, and engineers. Do we have people from these disciplines sitting in the Capital ?  

Why then, are these morons in the White House and the Capital steering all the news toward the AIG bonuses. Do they think we are as stupid as they are? Do they think the people of the USA are so dumb as to not see through their subtrafuge. It is clear to me they are trying to deflect the news away from massive spending they call “Change You Can Believe In.”  

Here is something to think about; after spending all those dollars shown in the chart all we will have left is “change”  in our pocket.

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