May 13, 2010 11:48 PM GMT
My view of the world is that one's possessions are just that: the property of their owner. Most of us on RealJock own some type car or truck. You would raise hell if your county or city came to you one day and said, "we must have your car every Tuesday." In fact, were that to happen I suspect we would have one hell of a revolt.
Today we live in a world where government expects more of some than it does others. By saying that, I do not mean one is not expected to pay more to support government when one has more income. That is not my point. What I am saying is that if I pay 30 cents of each dollar I posses then so should you.
Earlier today I toured a business that has made me give much thought to the real facts that this unevenness can affect. The business employs 65 people, mostly low to mid-wage earners. The original cost to create each of these jobs was $2,969,230. At the moment the business is not repaying any of that original investment and in fact is loosing around $4,000,000 a year.
Unless soemone steps in and spends another $20MM or so there will be no hope at all for ever breaking even. (This would not include any repayment of capital paid in.)
In situations such as this one sees the impact of new taxes such as the 3.8% medicare tax used for healthcare reform as well as the increase in capital gains from 15% to 20%. Every time these taxes increase more individuals are removed from the group who have enough cash to salvage something as described above. Money invested to provide those initial jobs shrinks.
Don't believe it? Ok. fine by me. But it will affect my decision and more importantly ability to keep these 65 people from walking the street with a cup in hand.