Wednesday, November 14, 2012

The Leaderless Group Exercise Begins

The rich tax. Everyone wants to tax the rich.

I have to tell you this. After seeing Romney's 13% tax rate, I got a little angry. I pay more than that on a fixed income that isn't enough to pay the homeowners insurance on 2 or 3 of his 5 mansions. So Obama has opened with 1.6 trillion in new taxes spread over a decade. An absolute waste of time. Kabuki theater.

Let me break this down. That's 160 billion a year in new taxes per year. Whoopee. You are going to scratch your head when I tell you this....but get ready....

That entire amount, 1.6 trillion, will only pay 1.5 years worth of deficit spending in Obama's decade. So how are you going to fund the budget shortfall (or deficit) of 1.2 trillion per year if you only collect 160 billion extra per year? Where are you going to get the additional 1,040 billion a year you need to break even?

Or worse yet, how are you going to pay the 16.3 trillion you have already rung up that just sits there accumulating interest?

Answer, you can't. In fact, this new tax is like putting a band-aid on a dismembered body. Our country is completely and utterly bankrupt with no chance of digging out. We cannot repay what we owe. This whole thing is so laughable that it borders on complete insanity.

The greatest secret in the United States is that apparently the vast majority of citizens in this country cannot do basic math. This is coupled with terminal apathy. People are simply unconscious. When you lead a completely unconscious and apathetic life- you must pay the penalty. The penalty for being unconscious and apathetic is that you are going to find yourself with a third world standard of living and maybe sooner than you think. 

You will know the end is near when the rich start buying gold in earnest. In the meantime, just sit back and enjoy this latest rendition of the leaderless group exercise. 


Anonymous said...

Yes, after today's continued exercise in futillity it is quite apparent that the only logical option is GOLD and more GOLD. As we used to say in the aviation business when confronted with possible catastrophic events, it's time to foam the runway.

I'am foaming my runway with GOLD and SILVER.

Anonymous said...

It ain't kabuki theater, it's bukkaki theater.

Anonymous said...

anonymous @ 2:19 - gold and silver are ok but you might want to stock up on lead & brass (otherwise known as ammunition in your choice of caliber(s). If you can't eat it (long term stored food) or shoot it - it really has no value.........................

Anonymous said...

Ah geez, Brian. Your pissed at the evil rich Romney because he onlu paid 13% in income taxes? really? I'm beginnig to think I know you better than you know yourself. You have let it be known on this blog that you have had more than moderate succes on the stock market in the past. I know that you know that low capital gains tax is a good thing for any country's economy. The evil Mr. Romney makes all those millions in capital gains. Not all of it is earned in other countries. That means some people have jobs they might not have otherwise. Then the evil Mr. Romney is a man of faith and so the rotten guy donates millions to the Morman church and other charities. How bad is that? I know you know better, Brian.

Brian said...

I have had some success. And I paid for it. At rates greater than 13%.

I don't have the inclination or the ability to offshore 25 million. Nor do I think basic and essential government- the kind that we don't have- can be run on 13%.

Bush is a crony capitalist. He represents the worst kind of governance. Not only did he cut taxes for the wealthy, He continued to spend like an idiot. Now we have a situation where it is no longer possible to increase taxes and cut spending- the math no longer supports any kind of dig out. But the blog isn't about Romney or the rich anyway.

It's about kicking the can at this point. That's all they have left. Bush started it with his GOP cronies, Obama will finish it. Eight years each of the worst governance imaginable from both sides. Yea I think I called this Frankenstein Government for a reason.