When you tax productivity, you produce poverty. (Adam Smith, 17th century economist)
Turn on the TV and listen to politicians. The mantra for Obama's election in 2012 is "tax the rich!" OR
"make them pay their fair share."
I'm sure President Obama sincerely believes that increasing the taxes paid by the richest Americans is the right thing to do. Maybe he's really going to do it. Maybe he's saying it just to win the masses over. I can't really say.
What I can try to say though is that there is nothing wrong with Romney, or any other guy for that matter paying 15% or lower on capital gains. I daresay that it would be UNFAIR to increase the capital gains tax. If anything, it should be lower. Before you think I was paid by the GOP to say trash let me explain.
Say you have two people: Jack and Jill. They both do some work, and are paid with two apple pies. They both pay one apple pie as taxes and now have one pie left each. Now, Jack eats his one remaining pie. Jill trades hers for three oreos. Would it be fair for Jill to pay additional taxes on her three oreos? I'm thinking its not, right? After all, if she hadnt traded it, she was entitled to a full untaxed pie.
In the same way, lets say Jack and Jill work for $2 each. They both pay $1 as taxes and have $1 left. Jack spends his one dollar. Jill does not spend hers but either loans it or trades it for a future $3. When she gets the $3 in the future, why should she pay additional taxes on it? She already paid when she earned it! This is the same exact reasoning with capital gains taxes. Its why there are some people who think even 15% is too much and capital gains should be taxed at 0. Because capital gains is money you invested instead of spending. And if you tax capital gains the same way you tax ordinary income, most people will have no incentive to save their income and invest it, because it would be like double taxation. They would be more inclined to spend it instead. And what happens when investments and savings fall and people spend all their income? There will be no money for business, no new jobs created, no growth and definitely less income in the future. So government has every incentive to encourage people to not spend their remaining,after-tax dollars, and invest it instead. Thats why the gain on investment is taxed less. And that is the incentive raising the capital gains taxes will be taking away. America will pretty much be kissing their investment dollars goodbye because once you tax something, you get less of it. No one wants to save money after taxes, invest it only to pay more taxes after they generate returns. And incase you don't know it, investors like Romney and Buffet and all others even though they pay such a low rate, have already paid ordinary taxes because the companies they invest in already paid corporate tax on the money made for them. It is the remaining, the one apple pie left that is returned as capital gains and taxed only 15%. So if you want to calculate the true tax rate Romney and co pay, add the corporate tax their companies pay, and then the individual low rate. If you do that, the real tax rate they pay is already more than 35%.
Meanwhile, the next time someone says its unfair for capital gains to be taxed at a low 15%, tell them to take their income AFTER they've paid normal tax, then go and invest it and then watch it get taxed again. Then tell me who is being fair to who. Stop listening to politicians when they seduce you with what you want to hear in order to vote for them. Think different. Peace out.
Motherhood is privilege. But there is no question that the best privilege is enjoyed by the child that was raised by a good mother.
There is no kind of love that equals it in the whole world and probably, beyond too.
Its a promise that in the contest of life, you always have someone in your corner. And NO ONE should take that for granted.
This is exactly three years since I first stared at my own corner and only emptiness stared back.
My mother passed on. I still hurt everyday, think about how she feels about the things I do everyday, wish I could make her hear how much I love her everyday.
Im happy for those whose moms are still there with them.
Its really an honor.
Much outcry is constantly being made about money in politics. Everyone condemns it as bad, the politicians score cheap points opposing it, while even the corporations blamed for it, would rather not do it. But after all the hell raised, the influence of money in politics is increasing instead of decreasing.
Here's what I suggest: stop giving government all these unnecessary regulatory powers. You can't legislate your way to perfection, so this impulsive increasing of regulations for government to tackle every problem in sight, real or imaginary is the real reason money is increasingly pouring into politics. With mounting regulations, corporations will have to run to government for permission to do everything. Its not that they won't still do it, the politicians will just be paid for it. So at the end of the day, government becomes a tool to enrich a few fat cats, without doing anything any differently. Strip government of unnecessary regulatory powers, corporations will have fewer reason to lobby it, and bingo, politics is free of money, or at least less encumbered.
Most regulations are really not as necessary as you think. Majority of it are already regulated by self-interest and market risk. Politicians just use it as a way of grandstanding to gain votes, or say they did something. So for those of you congratulating the current Democrats on Dodd-Frank Financial Regulation bill, as we speak, corporations are still calculating how much more money that bill is going to cause them to spend, on lobbying. Its running into billions, and only 39 out of the approximately 1300 specific regulations are in effect for now. So expect billions more. And you know the funny thing? A finance expert, asked by the Senate committee said "I don't think this bill will really prevent another recession." Say whatt????
So there you go. You can stop asking for politicians to make these rules that they're just going to apply to people based on the highest bidder, or you get used to the fact that money will continue to influence politics. You can't have both. Choose one.
I firmly believe, beyond all reasonable doubt, that Starbucks is part of an evil plot to enslave the mind of people everywhere, and make us addicted to their products. I am not kidding!
Okay, swear I am the only one who goes in everyday, moaning about how expensive starbucks is, and yet absolutely unable to resist that frap, or latte. God, how that latte makes me come alive. How delicious it is! Am salivating right now, craving coffee, and its past midnight. See what I mean? And don't you see how its like NO ONE ELSE can make coffee that has quite the same effects as Starbucks? Hell, I just tweeted this today:
And they do.
But...what if the secret to the awesome addiction-inducing deliciousness of Starbucks coffee isn't just due to their excellent brewing skills. What if there is something more sinister at work? *cue in 80s horror film suspense music* What if there is a mind-game and a spiritual channeling game involved that mentally hooks you to them, making you keep coming back? You think am kidding? Okay, take a good look at their logo:
Siren: The two things at her head are the split mermaid tails
I know am not the only one who has wondered who that nice pretty lady is. Well, she's a figure from Greek mythology known as the Siren. Look it up. They're mermaid-like creatures, with a split tail which is what she is holding up on the sides of her head, although they cropped out the original. My point though is, in greek mythology, what does the siren represent? They represent addiction, obsession and finally, death.
Yea, I do. Totally.
So you mean Starbucks deliberately put this image used to represent addiction, obsession and death, onto their corporate logo? And somehow, their product happens to be addictive, cause people to obsess over it, and finally lead to death. At least financially I have died a thousand deaths because of them. Just in case you are not convinced, just in case u think, oh naaah, this is just a cute picture they put in there to look cool, here's what Starbucks 'senior writer' wrote on their web page while explaining the logo. You can go read it, but Im just going to quote a few of what he says:
"...the Siren has always been there. She is at the heart of Starbucks."
You mean, she's not just something you picked cos its good looking? She is at the heart of starbucks? Something that represents addiction, and obsession is AT THE HEART of your company? Say it aint so. He continues with this:
"there is a lot more to her than just the design and how she looks."
Oh Lord. So its true. There is something entirely spiritual to their logo. Again our writer guys confirms:
"for me she's kind of the Final say on the spirit of everything I write and everything we do. Even as I'm writing this, I wonder what she thinks. (She likes it, by the way.)"
She talks to them! And approves everything they do! And its all geared towards making you obsessed, addicted, and finally leading to your death. Financially or otherwise. Im done. This is all too much for me. The idea that a company would engage in such evil is just numbing to me. Maybe I need to pour me a hot cup of coffee to wake me up again. Oh wait, we have a Starbucks in my school. They got me yo! Adios!