More on the Bonus Tax

The president has put a halt to the bill to tax bonuses up to 90% of employees of companies who’ve received bailout money. Clearer heads have prevailed in Washington among the Senate as they see the fine line that they are crossing with this one. The President said on 60 minutes that the tax code should not be used to punish a specific group of people and we should not be passing laws that target a handful of individuals. I apologize for thinking the President was for this as previously stated.

Only goes to show that the White House and the Congress are often at odds and any one president cannot be blamed for all the stupid and insane stuff that comes out of Washington DC. The President has his hands full trying to foster a bi-partisan atmosphere there as there are often disagreements within the parties themselves. I really hopes he makes some head-way with that because the rifts in Washington DC has been stifling this country’s progress for too long now. Time for a change indeed.

What the House has done is in fact unconstitutional. The US constitution prohibits the passing of any Bill of Attainder. Which is a legislative act that singles out an individual or group for punishment without a trial. What were they thinking? Trying to send this country back to the dark ages? Maybe we need to bring back the guillotine?

Bring back the guillotine?

Then we would have to start with them because they’re not doing their jobs! Trying to clear up their error by punishing others after they realized their mistake. Or was it a mistake? They knew the bonuses were there and did nothing. What they didn’t expect was the public outcry.

Also in the news was the return of about $30million by some top executives at AIG. How many of you folks who have been sending death threats and calling for their heads would have done that huh? Can we stop asking for their names to be revealed now?

 

Bonus Tax

No taxation without

Its been my limited experience that politicians don’t know how to mix the business of making money with the business of running the government. But today the US government owns 80% of AIG.

Sometimes a CEO has to make a tough decision that he/she knows won’t be popular but might bring more revenue into the company or improve productivity. This way of thinking is simply counter-intuitive to a politician as he/she always seeks to make the ‘popular’ choice. With elections to consider, tough decisions are generally left for the ‘next guy’. So when I heard that the house had passed a law to tax these big bonuses that have gotten ‘main street’ in an uproar, I didn’t get the warm and fuzzies. It was more like a sense of foreboding.

I never gave any credance to the talk of socialism, communism, fascism or any other isms that pop up when some right wingers talked about our new President. But I must admit that I’m beginning to wonder.

AIG CEO

Most of main street, who don’t get bonuses, ofcourse will think this is a great idea. It’s revenge of the middle class! How dare these people take the tax payer bailout money and use it to pay bonuses. To use the phrase of AIG CEO, its distasteful but as he said it was an existing obligation that the company had. The government should have insisted that the bonuses be handled differently before we even gave companies like AIG any money. Their after the fact behavior here strengthening my point that they are not business minded. The horse is already through the gate (or whatever it is that expression says, you get the point).

But is this taxing of the bonuses a good idea? ‘Main street’ hates these people, why? Because they went to school, studied hard, worked their butts off some sacrifice time with their family so they can be the best at their job so much so that their company encourages them to stay by paying them retention bonuses. Why hate them. Most of them are regular folks working hard to provide for their families, some with the fear of losing their jobs. ok so they might have some more savings than you do and might have to take their child out of private school. Come on, don’t hate them ‘main street’. Did they start these bonus policies? No, they’re employees enjoying the benefits.

So because of the uproar, our politicians wanting to be re-elected are on the road to setting what I believe to be a bad precedence. A little government control becomes a little more and then we have some government control and then some more and then some more and where does it stop. Will ‘main street’ outrage be able to stop it in time?

I’ve been enjoying our new President. He’s tackling some serious issues and making some tough calls (not your typical politician). He’s pushing some long overdue changes and I’m excited to see what this country will accomplish under him. And he does this all while remaining totally the coolest president! But is he planning to change things so much that it will no longer become advantageous to move up into a higher tax bracket? I wonder.

 

Happy Birthday

Happy Birthday

Today marks a year since I started my blog theyear2020! I’ve published 43 posts, slightly less than my 1 per week goal. There hasn’t been a theme as I’ve written about just about anything that’s on my mind. For the new year however I will attempt to inject a unifying theme to my posts. Emphasis on attempt.

The top posts over that period, strangely enough,  include
The Appeal of Green Beer
things that remind me of my childhood
Culture War

Thank you readers, especially those few that return to read the latest post.

 

Where is the compassion?

Where is the compassion for the children of Nadya Suleman? Yes, she choose to have 14 children even though she already gets and will need even more state and federal assistance aka welfare. While for most of us the idea totally boggles our mind and our initial reaction is that she must be mentally ill, lets stop and think for a moment before we neuter her and enact legislation to limit the number of children a woman can have (yes some have really posed this idea). Now I can’t attest to this woman’s mental state but my opinion was that her decision to have this many children certainly wasn’t a wise choice. But are her actions reason to call for her to be sterilized or for her children to be taken from her?

So far most of the argument I’ve heard against her stems around money. M O N E Y!! Some have already speculated that it will cost approximately $1.3million for the hospital care and stay of the octuplets. A bill Mediacaid will foot. A hefty sum I agree, but what is a human life worth? I know for some not much as they would have encouraged her to terminate some of the embryos. I know this is standard practice in the realm of fertility medicine as multiple births pose several risks. But if a mother chooses not to terminate a life who are we to judge, it is her right to choose after all.

Now I believe some counselling should have preceded her decision to carry her remaining frozen embryos and the doctors should have evaluated her situation before agreeing to the procedure. And maybe a little oversight is needed here by the state’s family services. We’ll probably see moves towards this.

But the babies are already here. And they deserve a decent start in life. So I urge the diaper companies to give and the people to donate strollers and clothing. Someone who has a house sitting there empty because of the state of the real estate market, offer it as a place for them to live. Bring on the book and movie deals, the interviews. Let her auction off the pictures of her babies, there is no uproar when the movie stars do it. Besides it can be argued that its in the tax-payers best interest that she’s allowed to make money this way. And let’s pray for these children. Their mother has already made the situation very difficult for them and if we can help let’s do so.

There are children and families in our own communities that we can help too. We don’t have to wait for a disaster to lend a helping hand. And let’s try not to think of people by a monetary value – how much they earn or how much they cost the taxpayers. This woman will never cost us the amount of money our government has wasted over the years. A person’s life is worth far more that even the Stimulus package.

 

Update on Corruption.

Mr Daschle did the honorable thing today withdrawing from consideration for Health Secretary. How could he after all this really ’set an example of responsibility’. Do you think he will start filing proper tax returns? It was a hard lesson to learn.

 

Corruption?

I’m by no means a conspiracy theorists. But is any one else concerned by the recent spate of government officials involved in less than ethical shenanigans.

First it was Blagojevich. He is guilty of alluding to the recently vacated Illinios senate seat as not ‘for free’. Which led prosecutors to cry corruption and Blago joins the ranks of the many unemployed Americans. Only the most naive person would think that this alledged corruption has never happened before in America’s history. And while money might not pass hands, political favors are just as valuable as money in the political arena. Even with all the ethical guidelines concerning donations and gifts, politicians find ways to trade in their power game. Now Illinios wants to make changes – vacated seats by election only. While I don’t think an expensive election is necessary, the state legislature should be more involved and the selection not left up to one man.

Govenor booted on corruption charges

And to bring home what we’ve always known – it’s the middle class that pays taxes. Here is Tim Geithner. How is it that the man who is being placed in leadership as the Treasury Secretary, who President Obama insists is the right person for the job and who has this great mind for macro-economics, can’t correctly file his taxes. Can someone say ‘Reform’. In all fairness our tax laws are quite complicated. But this man is going to be a major player in the economic and financial direction this country takes. Why was he confirmed? Would you hire a kleptomaniac to run a jewelry store so why hire a man who can’t handle his personal taxes to handle money decisions for the entire country. Are the lunatics running the asylum?

Actor Wesley Snipes

Then along comes Tom Daschle, he’s up to lead the Health and Human Services Department. This guy says he is deeply embarrassed and disappointed. Disappointed in who? His accountant? Mistakes can be made I agree, especially when there are different sources of income and complexity of the tax laws. But this late amended filing on his part is suspect. Did he know he was being considered for the position? Was that what spurred his actions to amend? Would we have ever heard about it if he had not been considered? What ever happened to requiring some track record of integrity in our leaders?

This is all very disturbing. Wesley Snipes went to jail for similar charges. Why wasn’t he given some leniency and allowed to pay his debts outside of jail. Because he was not remorseful aka embarrassed and disappointed? Why are these politicians not being brought up on charges? Are politicians not even audited by the IRS? How many more of them in Washington are hiding income, while sitting in their high and lofty elected positions making decisions that will ultimately affect my ability to maintain life and liberty and pursue happiness?

The 44th sure knows how to pick em.

I apologise if my blog has taken a political turn. I find politics interesting and there’s is certainly more to talk about now but I promise to go back to much happier topics soon.

 

The Pen is Mightier than the sword

A very old saying but one that rings true as we follow President Obama’s first few days in office. He has used the mighty pen to reverse several policies of previous administrations and also to authorize many new, some say long overdue, initiatives.

Here’s a collection of his recent ones:

1. The Lilly Ledbetter Fair Pay Act
This bill strengthens the equal pay for equal work rights.

2. Presidential Environmental Memorandum
Allow states to seek tougher auto emissions standards that the federal level. And pave the way for stricker fuel efficiency standards for cars by 2011.

3. Order to close Guantanamo within a year

Done on his second full day at the job, Obama showed everyone that he keeps his promises. The legacy of Guantanamo has been an incident free period since 9/11. Now the government will have to employ other ways of gathering their intelligence. Hopefully he gives them the tools they need to do this also.

4. Order reversing abortion funds ban

Now federal funds can be used to export America’s culture of death.

5. Memorandum on transparency and open government

Presidential appointees must pledge not to participate “in any particular matter on which I lobbied within the 2 years before the date of my appointment” or accepting “employment with any executive agency that I lobbied within the two years before the date of my appointment.”

The pen is also easier to wield than the sword but make no mistake its effects can be just as far reaching if not more so. I would argue that more responsibility is needed in wielding the pen, especially the pen of our 44th president. Some of the big government issues we have today has happened because a group of people thought some policy was a great idea. And while they meant us no harm, harm it has caused. While we can’t see into the future, wisdom must prevail, questions asked and due process given so that we can implement the best initiatives that will affect future generations.

 

President Barack Obama

As Rick Warren prays for the new president, his family and the country; I can’t but get a little choked up as we take this time to acknowledge the sovereignty of God. This country was established on Christian principles. The love of God, of our fellow man and pride in this land that he gave us are the basis for the constitution and the freedoms we enjoy. Lest we forget!
Then its time to swear in the Vice President. For a few minutes Biden will be Vice but Obama will still be President-elect and so more powerful than him as he holds his office. Only for a few minutes though atleast until the musical interlude is over.
Now its time! President Barack Obama!

44th President of the USA

12:10pm with a new president. Its time for his speech. He is a good orator so it should be good but I’ll sign off here. God bless America!

 

The legacy

Martin Luther King Jr, civil rights icon to the world.

There’s something extra special about Martin Luther King’s birthday commemoration this year. On the eve of the inauguration of the United States first African American president, the legacy of his peaceful demonstration reaches a pinnacle. Influenced by his faith and the likes of Gandhi, King’s decision to use peaceful means to achieve his goals explains the long lasting effects of his actions and his call for change. His popular ‘I have a dream’ speech talks about acceptance and inclusion of all people. In stark contrast to the then Nation of Islam’s stance for separatism. He saw the bigger picture, not just the ‘black’ struggle and so was able to influence similar movements world wide.

By no means has Martin Luther King’s dream been fulfilled but we’ve come a long way towards it. When will we get to the place when we stop seeing color and not even have to mention it? But for now, all Americans can be proud.

 

Happy New Year

Happy New Year!

We celebrate the new year with fireworks

That’s the standard greeting one hears during the first couple weeks of the year. As the year progresses no one greets you with hopes for a happy year. What’s the big deal anyway. Last Thursday followed last Wednesday like it usually does. And the weeks will continue to pass in similar fashion. What is a year but a measurement of time, a culmination of months, weeks, days, hours, minutes, seconds, nanoseconds! Really!, the year could have easily have started the following week if the romans (I think they’re to blame) had opted for a 372 day year. The Chinese and Jews celebrate the new year on different days even. So really what’s the big deal? It’s just another day of another year!

Humor me for a minute longer as I continue to over-analyze something everyone has come to accept as normal. So what’s so special about a new year that it fills people with hope and expectation? The weeks before, people will say they are ‘looking forward to the new year’. Why? Out come the new year resolutions, the lifestyle changes and for some new furniture and fixtures maybe even a new car. What family tradition rules your life at this time?

Its something about having a fresh start and January 1st brings that fresh start feeling everyone wants. We all crave for a fresh start in some area of our life and January 1st seems to be perfect for that. The months repeat and we feel as if we started over. But did we really? We didn’t get any younger. What’s to prevent us from making that lifestyle change on March 12th or August 6th or December 23rd. January 1st might just as well be day 733280 AD for all the meaning it has. I think the change in seasons affect people’s lives much more profoundly than January 1st does. Yet we place so much importance in it and attribute life decisions to it. Think about it. What did you put off doing waiting for the new year that could have easily been done when you first thought about it.

Let’s not become slaves to the measurement of time. And I’m going to sound cliche but let’s make the most of every moment we’re alive. To my readers, may every second of every day of every week of every month this year 2009 bring you health, prosperity and peace. Happy New Year!