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Fair share, oil and morality…

November 18, 2012

I went to the dark side yesterday and was listening to NPR, National public radio. No I have not given in to the dark side, but on occasion like to hear what the other side is thinking. They spent almost a half an hour on the topic of the “rich paying their fair share”. I am so tired of hearing those words, from local and national news and our nations Senate to the battle cry of president obama during the election. Don’t these people check out the facts before they open there mouths? The people earning over $250,000 a year are paying 70% of all the money the government takes in. Does obama want to make it 100% and have the rest of the country get a free ride?

I was never in a high income bracket, for most of my life I ran a printing press. The pay was always good enough to pay my bills and provide a good home for my family. Like everyone else I hated to see the taxes that were taken out of my check but that was the price of being an American.

………
A news report the other day proclaimed that by about 2035 oil production in the United States would equal our oil use. They said it was a result of new drilling techniques and increased offshore production. Wouldn’t this then mean that the cost of oil would drop significantly? FAT CHANCE… Right here in Alaska less than ten miles from my cabin over 350,000 barrels a day of crude oil passes by in the Alaskan pipe line. We have oil companies being stopped by our federal government from exploring further, even when we know there is a potential for more oil that was originally found. But you would think that just like in Saudi Arabia and Kuwait where gas is around 45 cents a gallon that it would be the same here in Alaska.

This is the ONE time I may agree with the ‘wall street protesters’. The price of oil across the country will not drop even when we produce more than we use and like in Alaska we pay close to the highest price per gallon in the US, even when we have a pipeline running down the center of the state.

………
Morality and the bible…
There is no morality in washington and this is seen when:
Congress ‘borrows’ the money we paid in for social security and does not replace it.
When every promise that our representative make to us they go back on.
When every representative in Washington takes money from big business and pays them back with favorable legislation even when it hurts the common man.
When our representatives pass laws that are directly opposed to the constitution.
When the news media is more concerned with the morality of the director of the CIA than who is responsible for four dead Americans in Libya.

This past election has proved that what was written in the Bible is true when the people of two states voted for gay marriage and legalization of marijuana for in the bible, Liviticus 20:13 it states “A man who lays with another man should be ((stoned))”.

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3 Comments leave one →
  1. delbert permalink
    November 18, 2012 11:07 pm

    you are right Pete……. the US will be a different place after 4 more years of socialism as this Gov guts all what America was founded on………

    Like

  2. Daddy permalink*
    November 18, 2012 11:16 pm

    The problem with saying that the rich DO pay their fair share is that it is, well, completely ignorant of the way the rich do their personal accounting.

    No matter what the tax rate, those making a million or more also have creative ways to shelter their money from being taxed. I’ve been to seminars for accountants on the many ways the money is pushed and pulled before the IRS can levy their tax burden.

    Let’s take a couple affluent people in the news of late:

    Mitt Romney
    http://www.vanityfair.com/politics/2012/08/investigating-mitt-romney-offshore-accounts
    “While the Romneys’ spokespeople insist that the couple has paid all the taxes required by law, investments in tax havens such as Bermuda raise many questions, because they are in “jurisdictions where there is virtually no tax and virtually no compliance,” as one Miami-based offshore lawyer put it.”

    Or how about Facebook founder Mark Zuckerberg:
    http://www.businessinsider.com/facebook-mark-zuckerberg-private-jet-spending-2012-8
    “The amount reported represent approximately $692,679 for costs related to personal use of aircraft chartered in connection with his comprehensive security program and on which family and friends flew during 2011.”

    So, normal people would have had to pay $700,000 of after tax money to fly their friends and family around. But Zuck just has his corporate plane do it. This is basically compensation that he passes on to his friends and family, that is untaxed.

    Ot take, for instance, Apple Executives that were given stock options with no closing date. Depending on how far back it was issued, they have the option to buy stock at $30 a share when it’s now over $600. In essence, the _potential_ value is millions but it is untaxed because the option is just a piece of paper until it is cashed in. If someone gave me tens of thousands of options like that, I’d be a very rich man. I could borrow against it, I could use it to secure loans to start businesses and other ventures, But its untaxed compensation.

    As you admit and I agree, we hate taxes. If we had the resources, we’d find ways to create trusts and move money around in shelters to protect it from being taxed. But all that costs money. Fortunately Zuckerberg has his company do all his personal accounting:

    “The amount reported also represents approximately $90,850 for costs related to estate and financial planning during 2011.”

    When I pay my accountant, it’s with after tax money. But Zuck’s financial planing cost almost $100,000- on which he paid not a cent of tax. Tis “plannin” is what creates the trusts and shelters and accounts and all that costs money to create- which Zuck had the company do for him. It’s compensation, but not taxed.

    Oh, “the rich pay all their taxes.”
    Maybe in some alternate universe, but certainly not ours.
    They’re humans just like the rest of us and they want to keep as much as they can for themselves, just as we do. The difference is, they have the resources to make it happen, and to not pay for making it happen.

    Like

    • Ron Giuntini kb6gk permalink
      November 19, 2012 12:54 am

      Fair share? How about the people who pay NO income tax? That, of course, is something NPR won’t even MENTION.
      Y

      Like

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