Tag Archives: tax

Capital gains should be counted as wages–to a point

warren.buffet.secretary.caption_picIf you pay attention to the news, you have heard Warren Buffet claim that he pays a lower tax rate than his secretary. This pronouncement has prompted President Barack Hussein Obama to propose new taxes, affectionately nicknamed “Buffet taxes” or the “Buffet Rule.”

The “Buffet Rule” is going to get a lot of press attention in the coming weeks and it will get more attention if Mitt Romney successfully wins the nomination of the Republican Party.

MittRomneyProfilePicAt this writing, Mitt Romney is running for the Republican nomination and at some time he is probably going to have to divulge his finances more fully than he has already. Mr. Romney doesn’t appear to have a wage-earning job, therefore, his daily spending on clothes, food, mortgage, and hair-styling products comes from interest, capital gains, or dividend income from his earned fortune. It appears that Mr. Romney paid less than 15% on his income where a wage earner would pay a much higher rate.

First thoughts on the day after election

The massive mid-term election of 2010 is now over. My phone won’t ring 25 times today with some computer imploring me to vote for one candidate over another. The signs that are all along the streets in my town can come down (hopefully the candidates come out and clean up their mess). Life can now go back to some sort of normal.

The Republicans evidently picked up approximately 60 seats in the House of Representatives. They also made major increases in the Senate and that house appears to be split nearly 50/50 (the exact count probably won’t be known for a couple days as Alaska will probably take a while to count due to the write-in candidate).

Complaints on tax day

On this tax day, I think this opinion from the Wall Street Journal is excellent.  It appears that Mr. Donohue is a 2 or 3 years older than I am but, other than that, his life and mine are very similar.  Not surprisingly, so are our opinions.

I would add that there is another huge tax that I am paying that many people that are poor do not pay.  My oldest son is in college.  Because I work very hard and make a very nice income, I pay list price for college education. My son is not eligible for financial aid simply because his old man works too hard. Luckily, he understands the value of hard work as well and has earned some merit based grants based on his academic credentials. He also works at part-time jobs to help pay the way. Anything in excess of that, Dad pays for.

President Obama pitches Chicago for the Olympics

Currently, President Barack Hussein Obama is planning on going to Copenhagen to be a celebrity pitchman for the city of Chicago (and America in general) for the home of the 2016 Olympics. While there is plenty of controversy over this decision since there are probably hundreds of movie stars and celebrities that could be tasked with helping the cause, the concern that BHO is too busy to go is probably not relevant.

Currently, every head of state for a city that is in the finals is visiting the IOC.  BHO’s lack of attendance would be telling if he did not go.  If BHO stayed home and spent more time socializing our economy, he would be vastly criticized if Chicago lost their bid. It is the sad state of Olympics politics that the head of state needs to be involved in order to win since Blair did that 4 years ago to secure London’s hosting spot.

Healthcare for illegals

First, let me be clear, I think that Rep. Wilson of South Carolina should be censured for his outburst while President Barack Hussein Obama was speaking in a joint session of Congress. He reminds of irresponsible brats such as Kanye West. Public outbursts while the President is speaking are simply unacceptable in any format and definitely not allowed in a joint session of Congress.

I do think that it is interesting that the rude outburst occurred due to a statement from BHO regarding healthcare for illegal aliens. There is a reasonable argument that BHO, while perhaps not lying, was not telling the complete truth. Check out this interesting video below and then read the rest of my comments.