Wednesday, March 18, 2009
Theft by Taking
Theft by Taking
It's against the law. To steal someone's wealth, either by taking their property, breaking into their bank account, or acquiring money via paypal (which has happened to me, by the way.) It's also against the law to threaten harm to others via their livelihood. That is, unless you are the US government. Then it's ok. I am referring to the AIG scandal, the insurance company which recently was on the verge of bankruptcy until the feds intervened and gave them a whole bundle of taxpayer dollars. (See article- http://macedoniaonline.eu/content/view/6016/52/)
Now I don't consider myself to be making a whole lot of money. I make enough to get by and make my house and utility payments. I can remember times when my bank account was stretched extremely thin, even to the point of breaking. Now, the feds, lead by President Obama, are outraged, OUTRAGED I say, because of bonuses that have been given to executives at AIG. What they fail to tell you, is that these bonuses are guaranteed by the contracts these employees signed with the company, and that these bonuses were made public quite a while ago, before the government made the bailout funds available. Additionally, they don't tell you that should these bonuses not go through, AIG would quickly go down the drain due to lawsuits brought by said employees.
No one is outraged by bonuses paid to top athletes and draft picks. No one is outraged by 20 million going to top actors and actresses, nor the producers and owners of Hollywood studios. It seems that no one in the White House is outraged by our taxpayer dollars supporting union screw turners making $90/hour including benefits at private automobile corporations.
As for me, I think wealth is a bit over-rated. Some might cry, "Spoiled Grapes!" and I would not deny them this. I am more than a bit mildly bothered by the governments hypocrisy in the above example. They say we all need to tighten our belts, but this does not apply to those who support their party.
When we penalize a segment of the population for being productive, we take away incentive for the cause of production. That's economics 101, folks. (Thanks, Coach Bailey!) See Atlas Shrugged, by Ayn Rand.
It seems to me what is needed is a constitutional amendment with the provisions for a flat tax rate across the board. 23% to 25% or whatever it happens to be. A consumption tax replacing an income tax. Yes, this would result in more people saving money instead of spending it. It does not seem like such a bad thing compared to the inequity that is currently in place. Then, *all* would contribute towards our national spending, equally and fairly, including illegals that do not pay taxes but send our wealth to another country. A constitutional amendment would be required to keep politicians from "piling on top" of the percentage rate of the consumption tax.
Here is a question for you to consider: What is *really* going on behind the scenes? I mean this in a spiritual sense. What is happening on a national scale? What is it that is occurring, invisible to the eyes and ears of our deaf, dumb and blind population?
It is something to think about.
PS For more stuff on AIG (including retirement money for teachers) click on the following link: http://paul.kedrosky.com/archives/2009/03/the_aig_blackma.html There is a lot there to wade through, but one can find some passages that are startling. A lot of it is business-ese, but even someone like me can make sense out of parts of it.