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Blogs by Bill Flynn
Upcoming Tax Legislation 11/18/2010 8:05:17 AM
I'm worried about those who govern us.
My worry is over those who govern us.
My worry is this:
The congress and senate of the United States is composed for the most part of millionares. A few in the minority earn below $250,000 a year. The millionares receive campaign contributions from millionare leaders of billion dollar industries such as; Insurance, drug & banking companies and the like. These contributions assure that congressional voters will see things their way and vote to enhance their business interest. Most times this enhancement will cost the middle class populous money in the form of increased prices...I'm worried about that situation and more.
The bill before the house at present is to decrease the taxes on those making less than $250,000 a year and increase the tax on those making millions. I'm worried...Those congressmen & senators that will vote on this tax situation are making well over a million...I'm worried...will they protect their own wealth and vote against raising taxes on the rich? Will they rationalize that taxing those in the highest income bracket at an increased rate will slow down the economy and increase unemployment? I'm worried... that common sense about that rational will not prevail.
The millions in personal wealth accrued by such as Insurance, Drug and banking executives as an example, averages around 25 million a year. Isn't that separate from any large business bottom line? (usually influenced by the price of stock) Won't these rich CEO's if taxed on their personal income still be the movers & shakers to make their businesses grow to increase the value of the stock of which they own a bundle? I'm worried...
Okay, how about "small Business"...Will congress and the senate use the rationale that that entity will be hurt by a tax increase imposed on those small business owners making over $250,000? If so will they vote to relieve business taxes to compensate for the rare situation whereby a small business owner makes over $250,000 in personal income and taxed at a higher rate? Will Congress play the JOB and business incentive card to rationalize not taxing those making megabucks? I'm worried...are you?
Bill Flynn
Author of novels:
A Drumbeat Too Near
The Feathery
A Deadly Class Reunion
