Tuesday, July 26, 2011

Hands Off My Money

Barack, Harry, and Nancy:

The USA government has enough money coming in to service its debt and cover everything that is really essential. Everything we are borrowing money for is, in my not so humble opinion, non-essential.

So if you don't get authorization to borrow more, prioritize. This is called "money management", something you never seem to have learned.
Barack, you say you want more revenue--lots more revenue--as compensation for spending cuts. But you say the revenue will come from the richest Americans, those who earn more than $200 or $250 thousand (whatever that number is today), claiming that won't hurt the poor or the middle class.

I've got news for you, Barack, Harry, and Nancy: Taxes don't really work that way. Raise taxes on the rich, and they'll just charge more for their goods and services. They are the ones who have the power to do so. Market forces put some limit on this, but not enough to prevent some rise in prices. So it's the poor and middle class who give the rich the money they use to pay their taxes. Do you really think the rich are just going to sit idly and not recover from the poor what you take from them?

Tax the rich and you tax indirectly tax me in the middle class. Why don't you get that?

But tell you what. Harry Reid wants this cowboy poetry festival in Nevada, and thinks I should contribute to the cost of the cowboy poets getting together. I'll listen to your arguments about the need for more revenue if Harry pays for this festival out of his own pocket for the next five years, and refunds to the American people (via the US Treasury) the last five years. He's worth over $2 million (mostly accumulated since he's been a senator), and that's only $350,000. He can afford it, if he really thinks it's so important.

Why should a poor person in Rhode Island, or a middle class guy in Arkansas pay for cowboy poets to get together in Nevada? If you all think it's so important they have a forum, you should be willing to pay for it yourselves. Or, think of it this way: Would you borrow money to pay for cowboy poets to get together in Nevada? Doesn't that sound absolutely ridiculous?

Until Harry does that, I conclude you really don't have a clue about money management, and thus don't qualify to get a larger amount of public money to mismanage. You asked everyone to contact their national legislators and make their feelings known. I will do that today. What I will say is: YOU DON'T DESERVE ANY MORE MONEY TO MISMANAGE. NO TAX INCREASES ON ANYONE. Increase taxes on the rich and the poor and middle class end up paying them.



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