Ferrari Mailing List: Re: "Economics"

[Michael James (cavallino_rapante]

Hey, Hey!  I'm a centrist at worst - I've seen both sides of this political 
fence, and trust me there are way too many purple-haired liberals up here in MA 
to shove the likes of me within arm's length of Limbaugh himself.  I'm just not 
'buying' into the sky-is-falling on the high-wage-earner crowd.
 
The sky is falling on EVERYONE regardless of social class.  If a rising tide 
floats all boats, a lowering tide will sink all of them, too.  This isn't a 
time for our weathiest Americans to think they're being 'picked-on'....to me, 
that's just plain silly.  Who amongst us is weeping for the disappearing middle 
class?  Or am I to believe that they are unaffected by all this?  Anyone on 
FList lose their house lately?  Or do they not matter in Ric's economic model, 
since he may not be one of them?  I'm very sorry if the salaried-employees of 
the world (myself included) are not fit to sit at his table.  Last time I 
checked, I've paid into the system FAR more than I've ever gotten out of it, if 
anything.  Ric wants to rant and rave about 'social welfare programs' all he 
wants to, he's dancing around what its really called:  Social Security.  That 
ticking time bomb created because all americans are living longer than the 
benefit was anticipated to
 cover.  That is not a Marxist conspiracy.  Thanks to the advances of 
healthcare, proper diet, exercise, and all that, people are living well into 
their 90s, and continuing to draw that social benefit - which is only going to 
get larger and larger and larger (he's right about all that).  He's also right 
that its one of the Govt.'s largest financial expenditures.  But he's wrong to 
point a finger at ME about it.  I'm not a Baby Boomer, remember?  I don't draw 
a Social Security check.  Never have, and probably never will.  My grandmother 
does, though....she's 86.  My great-grandmother does, she's 103 - yes, One 
Hundred Three.  Blame them for your higher taxes, if you must - their only 
crime is they haven't died yet.  I'll let them all know Ric is cheering for 
their early demise.
 
That social program that Ric is going ballistic over isn't a 'class' issue - 
wanna cut Social Security?  Medicare/Medicade?  Go NUTS!  Be my guest, I'm 
pretty sure it won't be around when I'm old enough to use it anyway.  Feel free 
to eliminate Social Security.  Seriously.  I guarantee you that will eliminate 
a serious financial crisis our nation faces.  Consequences be damned.  Lets 
figure-out how to get rid of all these 'old people' first, though.  Make sure 
everyone 'expires' on the morning of their 68th birthday - past that, and 
they're dipping into the SS money-trough deeper than what they originally put 
into the SS system.
 
I don't think its unreasonable to understand that our Govt. has been spending a 
ton of money on things that it can no longer afford.  I'm fairly 
pragmatic about this.  I am employed by a Defense Contractor, I know where my 
bread is buttered, but we as a company have lost money so Uncle Sam could 
divert more and more funds to support the war effort.  I'm up here in MA 
building Warships for the US Navy, but we're running a skeleton crew and barely 
able to keep the lights on.  How much extra have all of you kicked-in to pay 
for the war you all supported so much?  Yea, I thought so...lets all pack our 
bags and move to Guatemala.  I don't understand this philosophy.  For the 
past seven years, the USA has undertaken a great campaign against Global 
Terrorism, and wrung-up a huge tab to provide for our nation's security.  The 
Govt., as a result, has gotten larger in-response to this threat.  This was 
seen, seven years ago, as a necessity to
 chase and defend against Bin Ladin and his ilk.  We-the-People were all 
on-board with this plan then...The bill for all of this will be 
paid......when??? 
 
Love to all,
 
Michael
 
 

--- On Wed, 11/12/08, Charles Perry <charles [at] carolina-sound.com> wrote:

From: Charles Perry <charles [at] carolina-sound.com>
Subject: RE: [Ferrari] "Economics"
To: cavallino_rapante [at] yahoo.com
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Date: Wednesday, November 12, 2008, 6:37 PM

Mike - 

When did you become such a flaming liberal? Do you need rescuing from the
Northeast? We will help you!!

Ric is dead on with all of this. It's not the Pickens or the Buffetts that
are suffering from this incessant taxation - it's me! Last year, after
paying well into six figures in Federal taxes throughout the year, I found out
in April that I owed another $4,000 in Federal taxes thanks to the Alternative
Minimum Tax (AMT) - originally a "soak the rich" tax which is now
affecting millions of upper middle class families like mine.

You know me - you've been to my house - you know my lifestyle. I am not
wallowing in money, and $4k still means a helluva lot to me. Yes, I own some
nice cars, but the youngest of which is 10 years old now - I'm not in the
"pay an extra $100k for a 599 to be first in SC" club. For me to pay
that incremental $4k, my company has to make an extra $10k in profit to pay that
to me. For that to happen, we have to sell another $40,000 in goods and
services. Each of the four members of my family is in the same position, so our
company has to sell another $160,000 in goods and services JUST TO PAY THE AMT -
never mind the oppressive regular tax.

There are millions of small businesses that don't gross $160k in a year,
let alone make that just to "allow" their principles to pay AMT.
Furthermore, if we had that extra $40k in profit that we have to use to use for
AMT to use for something else, I would hire someone to reduce my 110 hour work
week and give me some time with my family. That would be me CREATING A JOB -
just like the Dems always claim to want to do. But that job will never exist
because of the AMT. And for every new tax that is heaped upon me because I work
hard and am therefore "unspeakably wealthy," that is one LESS job that
I will create and that much less my company can do to keep the economy moving.

Worse, my parents are paying thousands of dollars a month in life insurance
premiums to provide a policy that will pay the Death Tax on the value of this
business when they die, so that the government doesn't force my brother and
I to sell the company that our family has worked decades to build so that the
Dems can give half of it to some people who chose not to build anything for
themselves.

This is really, really, simple stuff and I KNOW you are this smart. I, for one,
am definitely crying...

-- charles

 

-----Original Message-----
From: Michael James [mailto:cavallino_rapante [at] yahoo.com] 
Sent: Wednesday, November 12, 2008 2:33 PM
To: Charles Perry
Cc: The FerrariList
Subject: Re: [Ferrari] Are Ferraris Losing Their Good Looks?

 
For me, its a waste of bandwidth to 'come to the aid' of folks who
don't seem to want or need defending.  Every time I read of T.Boon
Picken's exploits, he's made another $100 Million, he certainly
isn't looking for a shoulder to cry on