Ideology
by Dan Goe
January 7, 2004
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Citizens Taxpayers and Voters, “Well, ladies and gentlemen, we're not here to indulge in fantasy but in political and economic reality. America - America has become a second rate power. Its trade deficit and its fiscal deficit are at nightmare proportions. Now, in the days of the free market when our country was a top industrial power, there was accountability to the stockholder.” The quote above is from the movie ”Wall Street” subtitled Greed Is Good-written by Oliver Stone & Stanley Weiser. How true those words are in today’s economy. The old adage is follow the money trail. Each Political Ideology has an Economic Ideology also. Some politician’s talk Gross Domestic Product (GDP) whether they do this to pull the wool over many citizens eyes or for other reasons I don’t know. For the record Gross Personal Income (GPI) pays the income taxes. My analysis indicates that for the year 2003 the Federal government will take about 30 percent of all Gross Personal Income. GPI is a composite of many incomes and even government payments. The Federal Government alone takes about 46 percent of all “Earned Income”. My analysis shows that total tax burdens are around 60 percent of GPI or 92 percent of “Earned Income”. Don’t forget the mandates of government that spend your money for you as requirements of law. The year 2001 was historic that the rate of growth of Federal taxes was 107 percent of the Growth of the GPI. 2003 will not be much better. Now also consider the factor that 84 percent of the people pay taxes for the other 16 percent that work at public entities. America has 44 Trillion dollars in unfunded Federal obligations. You can read all about it at.... www.chewinthefat.com/artman/publish/article_271.shtml The New Year is here. Its the season of giving, but many are without jobs and the giving is lean and limited to needed goods for many. Unemployment benefits have run out for many also. There is an Uncle that might give, but you have to ask. Yes!!! Uncle Sam gives away billions, but you have to apply. Government reports say GDP is increasing if you look and analyze of the last 7 quarters of seasonally adjusted GDP and GPI then you can see that the ratio of GPI/GDP is declining. What this is saying is productivity is up and workers are making more product for less cost, but it also means corporations are making those extra dollars and some worker is not making as much and others have been laid off. The other front is that the taxes at the state and local levels continue to increase. There are many hidden taxes like gross receipts taxes on utilities, fees cover trash and sewer. I am sure you have noticed a tax or fees increase, inflation or dollar depreciation. Factoring all these factors together and some citizens see they are worse off than last year. Some incomes haven’t kept pace with the cost of living and taxing, and therefore their Standard of Living has declined. You can try to hunker down crawl into a hole and do without, and that is not much of a life. For how long is anyone’s guess or you can find areas in the country that offer much more in income growth opportunities and lower taxes and lower tax growth and vote with your feet. This becomes a multi-faceted analysis of the cost of Living and taxing at all levels of government and their growth from the past. Smart states and areas will do everything within their power to keep taxes low others will not. Actually studies show those areas that keep taxes low out pace others because they attract those that want to get ahead. I have been able to obtain the GPI and Gross State Product (GSP) by states for the years 1990-2002. Five states showed the most gain in GPI and GSP, Nevada, Colorado, Arizona, Utah, Georgia and Texas. Patrick Henry said it so well: More in the next letter… Think about it…. The choice is yours…. I hope many citizens will join with me to protect their freedoms. Call 2 or more of your friends that don’t have web services. If you wish to subscribe click here
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