Friday, April 16, 2010

Miracle of '76 (and a few years after)

The more one looks with frustration on the madness that is Washington politics (or maybe its just any type of politics) the lack of true deep intelligence (or maybe its just that the intelligence is drowned by the sound of special interest depositions) Looking back at the founding fathers their wisdom and the immortal document they created are truly master works. The amazing thing is the foresight, for example this quote:
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson

you could say they told us so, almost 250 years earlier. Maybe instead of looking ahead we should be looking to the past for advice.

Wednesday, April 7, 2010

Half....Really?

I found this mildly disturbing today:

Nearly half of US households escape fed income tax

Now don't get me wrong I don't like paying taxes, but I do understand their importance, they provide for our police and fire protection, schools, roads, agencies that keep us safe, healthy, infrastructure, power, water.... I mean the list just goes on and on. BUT what if the people are profiting from taxes? Heres the example for an average 4 person household

"The family was entitled to a standard deduction of $11,400 and four personal exemptions of $3,650 apiece, leaving a taxable income of $24,000. The federal income tax on $24,000 is $2,769.

With two children younger than 17, the family qualified for two $1,000 child tax credits. Its Making Work Pay credit was $800 because the parents were married filing jointly.

The $2,800 in credits exceeds the $2,769 in taxes, so the family makes a $31 profit from the federal income tax."

Seems like if we all have healthcare (sorry insurance) we should all pay some taxes right? Something just doesn't seem right. So now we're sticking half the population with not only all the tax responsibility but they also pay other families that don't pay at all. I'm bothered by this.