I'm So Mad Right Now!
The Dynamic Wealth Report
April 15, 2010
Right now I’m steaming mad. I want to throw things at the wall and cuss
out the potted plant. I can’t believe how stupid some people in this
world can be. It makes me so mad…
What caused this rage?
National Public Radio (NPR) has me absolutely livid. On Wednesday, I was
driving into the office early. I was up at 4:00 am and enjoying the
predawn, no traffic drive.
Then NPR did a piece on taxes. It makes sense. April 15th is forever
tattooed on the American psyche as a day of taxes.
So of course this interview - as they’d say in the radio business - was
relevant and timely.
NPR had dug up quite possibly two of the stupidest people in the world. They were individuals who grew up in wealthy families. Amazingly these
individuals were also guilty over that wealth. They were ashamed of
growing up in a financial situation many only dream about.
They were guilty of having wealth then and guilty of having wealth now.
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They want to raise taxes.
I’m sorry, but this would be funny if it wasn’t so scary. These people
were actually trying to get Congress to raise the tax rate. They were
lobbying for HIGHER taxes. I’d like to believe it was a joke. Who wants
to give more money to the government to be wasted?
I don’t… do you?
I wish NPR had called me for a response. I would have had a few choice
comments like…
If you want to pay more taxes, go right ahead. Many people don’t realize
this but you can donate money to the government. Really… no need to
increase tax rates on others.
In 1961, the Feds passed a law allowing them to accept tax deductable
donations to pay down the national debt. So I’d say to our “tax us more
friends” on NPR… you don’t have to claim the deduction on your taxes.
Simply send a check to the U.S. Treasury Department…
Attn: Dept G
Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188
That’s right. Feeling guilty about your wealth? Don’t feel like you paid
enough in taxes… then send the government a check. Hell, send in enough
money and Obama himself might send you a thank you note!
To be honest, I’m like most Americans. I feel like I pay way more than
my share of taxes. So when people start arguing anyone should pay even
more, it makes me mad.
Their arguments for increasing taxes are weak.
One of them actually said since they make more money, they’re better
able to pay taxes.
That’s just another pile of steamy, smelly bull****.
Look, just because you can afford to eat prime rib all day doesn’t mean
you should. And just because someone makes more or less money doesn’t
mean they should pay more or less in taxes.
Here’s why.
Like most Americans, I’m a big believer the government wastes billions
of dollars. So instead of wasting money, why not put it to good use?
A friend of mine is starting a small business. He’s developing some
amazing software. To get the business off the ground, he needs some
funding. He’s certainly not getting it from a bank… and he’s already
invested his time and life savings into the business.
So he approached a few investors. One agreed to put up the money he
needed.
He could now go out and get an employee to really get things moving.
But just a few days ago, the investor cut back his promised investment. Why? He had a big tax bill and needed the cash to send to the
government.
That’s a bit backwards if you ask me.
The government is trying to get people employed… but this small business
can’t bring on a new employee… because the government is taxing their
big investor.
I’d rather see that money go to the small business and see someone
employed. It’s better than wasting tax dollars on federal bureaucrats.
As I step down from my soap box (thank you for letting me vent), let me
leave you with a few thoughts. Since when did it become wrong to be
wealthy? Since when did having money make people ashamed? What happened
to the America dream? And more importantly, what happened to the ideas of
smaller government, lower taxes, and personal responsibility?
Financial Select Sector SPDR (XLF) once again is one of
the most active ETFs trading. The good news out of JP Morgan
(JPM) is driving the entire industry higher and trading volumes are
through the roof.
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