Letters

Letters 07-25-2016

Remember Bush-Cheney Does anyone remember George W. Bush and Dick Cheney? They were president and vice president a mere eight years ago. Does anyone out there remember the way things were at the end of their duo? It was terrible...

Mass Shootings And Gun Control The largest mass shooting in U.S. history occurred December 29,1890, when 297 Sioux Indians at Wounded Knee in South Dakota were murdered by federal agents and members of the 7th Cavalry who had come to confiscate their firearms “for their own safety and protection.” The slaughter began after the majority of the Sioux had peacefully turned in their firearms...

Families Need Representation When one party dominates the Michigan administration and legislature, half of Michigan families are not represented on the important issues that face our state. When a policy affects the non-voting K-12 students, they too are left out, especially when it comes to graduation requirements...

Raise The Minimum Wage I wanted to offer a different perspective on the issue of raising the minimum wage. The argument that raising the minimum wage will result in job loss is a bogus scare tactic. The need for labor will not change, just the cost of it, which will be passed on to the consumer, as it always has...

Make Cherryland Respect Renewable Cherryland Electric is about to change their net metering policy. In a nutshell, they want to buy the electricity from those of us who produce clean renewable electric at a rate far below the rate they buy electricity from other sources. They believe very few people have an interest in renewable energy...

Settled Science Climate change science is based on the accumulated evidence gained from studying the greenhouse effect for 200 years. The greenhouse effect keeps our planet 50 degrees warmer due to heat-trapping gases in our atmosphere. Basic principles of physics and chemistry dictate that Earth will warm as concentrations of greenhouse gases increase...

Home · Articles · News · Random Thoughts · The Resurrection of...
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The Resurrection of Martha

George Foster - March 10th, 2005
It is 1:30 a.m. and a Pistons game on the West Coast is winding down on TV. Before going back to sleep I flipped the channel to CNN and was alarmed to see an airplane on the tarmac as a black vehicle pulled up nearby. Has there been another airliner hijacking? Have terrorists demanded a plane to be provided to whisk them away to Tehran?
No, I finally realized that Martha Stewart‘s release from jail was being carried live, complete with reporters hollering the usual inane questions from behind the security fence, “Martha, are you glad to be out?“
As Stewart walked the short distance to the airplane that would take her home for the first time in five months, the commentators observed how healthy she looked, the radiance of her smile, and the appropriateness of her attire.
Good grief, the media coverage is this intense a few minutes after being sprung from the joint? With her acute business sense, Martha Stewart will undoubtedly embrace her freedom with financial windfall that will be staggering - well beyond her previous highpoint.
Already, the stock in her company, Martha Stewart Living Omnimedia, has jumped back to its former price level. She has two highly anticipated TV shows ready to hit the air. Advertising has begun to fill the pages of her magazine, again. Million dollar book deals are in the making. Movies will be next. Everyone wants to know, “How did Martha spend her time behind bars?“ Making license plates? Sharing chocolate chip cookie recipes? Doing the chain gang thing?
What I find ironic is that Martha Stewart was convicted because her detractors wanted her knocked down a notch. Undisclosed officials in the SEC admit that the feds wanted to make an example of her to deter others from making profits illegally on insider stock transactions. Meanwhile, O.J. Simpson and corporate crooks that bilked thousands of ordinary people out of their retirement funds walk free.
Martha Stewart‘s enemies, who were salivating at the prospect of her financial empire in ashes and Martha ostracized as a pariah, must be tortured as she comes back bigger than ever.
In a way, not much has really changed. Welcome back, Martha.

When Alan Greenspan speaks, E.F. Hutton listens.
Recently, when the Chairman of the Federal Reserve suggested that he favors a consumption tax over income tax, the economic pundits took notice.
Many economists have long favored a form of consumption tax. Until Greenspan‘s admission, a consumption tax has been considered folly, about as likely to happen as cessation of Bill Clinton‘s roving eye or George W. Bush admitting to any mistakes. The respect for Greenspan‘s every word, however, has raised the idea of a consumption-based tax to mainstream status overnight.
Think of a world where there are no income tax returns to be competed, no accountants to be paid, and best of all - very little withholding from your paycheck. Think of a world where we can all earn as much money as possible and never entertain even a thought of tax consequences in a profitable year. Think of a world...yes, I‘m serious here, where there is no IRS. Don‘t tear up your 1040‘s forms just yet, but the abolition of personal income taxes may be imminent.
President Bush has stated that income tax reform (as opposed to the usual politically motivated tax cuts) will be a very high priority in his second term. Currently, the IRS code is a nightmare of mumbo-jumbo, complicated by mountains of regulations, interpretations, and tax legislation. Each presidential administration gives lip service to tax reform, but adds more taxes or tax cuts to the unwieldy mess. The bulging patchwork that we call the IRS code is near eruption.
Due to Greenspan‘s endorsement, the president may go for the end zone - a consumption based tax. If a consumption tax replaced our income tax system, the tradeoff is that we would all pay significantly more taxes when buying goods. People, just consider the consumption tax to be akin to tough-love. We all need incentive to save more of our earnings, right? The beauty of the consumption tax is if you decide your taxes are too high - DON‘T BUY ANYTHING.
In general, I have not supported President Bush‘s economic policies. Privatization of social security won‘t fix the problem and the federal deficit of $7 trillion is a national scandal. Yet, Bush is on the right path if he decides to push for a consumption tax.
It is time to eliminate income taxes once and for all.





 
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