Monday, May 24, 2010
WWJD with Chain Emails?
Monday, April 26, 2010
The Fungibility of Government Funding
As I was listening to the radio a week or so ago, I was beginning to think for a very brief moment that I had been mistaken. The syndicated ABC radio news broadcaster announced excitedly that GM was able to pay off its government loan in full. The taxpayers were getting their money back, even ahead of schedule!.
“Could I have been wrong?” I thought. “Was this an instance where an otherwise foolhardy and irresponsible waste of taxpayer dollars actually paid off?”
These questions were racing through my mind for a very brief moment indeed when they were interrupted by the concluding segment of the news segment: “GM is still losing money”.
Thursday, April 15, 2010
Tax Day Musings: Let’s Abolish the IRS
Back in February I wrote a post entitled The Non-census of It All, which lamented, among other things, the whole approach to the census. Surely you have seen or heard the census bureau’s advertising campaigns stating, “Without a complete, accurate census, your community may not receive its fair share [of federal funding].” This is not the way things were supposed to work. Indeed, as I had pointed out:
Our founding fathers never envisioned—indeed they crafted the Constitution to specifically avoid—a behemoth federal government that did most of the taxing and spending. Rather, the majority of taxation and government influence was to be at the local level, where elected leaders are more easily held accountable. We have since turned the wisdom of our founding fathers on its head to the point where state and local governments are mere appendages of the federal government.
More recently I learned something else disturbing about our current fiscal and tax policy. The Heritage Foundation and others have pointed out that we have reached that dangerous point where more than half of the U.S. population pays no federal income tax. The reason this is dangerous is that, with demagogues in government always harping about those greedy rich people needing to pay their fair share, and with the majority of the population paying no federal taxes but receiving some kind of government benefits, this majority will soon realize that it can vote itself more and more benefits--and there is nothing that the tax-paying, productive sectors of society can do about it, except maybe leave the country. It is a recipe for tyranny and eventual economic collapse.
Saturday, April 10, 2010
How much do you trust Congress?
Q&A: Roth IRA Conversion
Question: Regarding Roth IRA conversions, what is there to prevent the government 10, 20 or 30 years from now taking these Roth IRAs and changing rules and making them taxable, either all or in part, or making them subject to the AMT?
Ric: There is nothing preventing Congress from doing that. That is one of our objections to the Roth IRA and specifically to the Roth IRA Conversion. Congress says Roth IRA withdrawals are tax-free, but we get a new Congress every two years.
Planning to retire in 20 years? That’s 10 Congresses from now. If the government needs more revenue, a future Congress might decide to tax the money held in Roth accounts. You can even argue that this is why Congress allows Roth conversions in the first place: The conversion does not necessarily lower your taxes, but it does accelerate your payment of them. By getting you to convert, Congress gets the tax revenue now.
Clever, huh?
Do you trust Congress to honor its promises? The more you do, the more confident you can be about putting money in the Roth IRA. Personally, I am not terribly confident.
Friday, April 2, 2010
Alla Luce del Sole
I guess he can best be described as an American Andrea Bocelli, lending a classical style and a tenor voice to a broad variety of musical genres. Some are just sappy love songs, the typical boy-meets-girl, boy-loses-girl, please don’t-leave-me type of songs, but even these have a certain grace, dignity and class thanks to Groban’s commanding voice and classical accompaniment. The fact that many of his songs are sung in flawless Italian or Spanish further broadens their appeal.
While I am not sure of his religious background, a number of his songs seem decidedly Christian, such as his rendition of Jesu, Joy of Man’s Desiring or You Raise Me Up
Thursday, March 25, 2010
Of First Importance
- Italy and anything pertaining to the Italian language and culture
- Conservative politics and commentary
- Christian theology and apologetics.
With all the rage going on lately with the health care debate and many of the other outrageous things that have been going on in our country, I perhaps have been devoting way too much space to matters political. But whether I am talking about politics, Italy, theology, family and friends or other musings, I view these as all secondary. There is something else that is of first importance: the Gospel.
I recently stumbled onto a blog that is aptly titled Of First Importance . It’s format is usually a daily quote, sort of an inspirational “thought for the day”. But this is not your typical kumbaya, “Chicken Soup for the Soul” type of inspiration. Each day brings a very pithy, meaningful message not from some pop psychologist or modern day inspirational speaker, but from giants of the faith of ages past and present. The messages simply remind us of the Gospel and encourage us to live each day in the good of the Gospel, and all of its far reaching implications in our lives.
The phrase “of first importance” actually comes from a verse of Scripture. In his first letter to the Corinthians, the apostle Paul was writing to a group of Christians who had spent way too much time majoring on minors and had forgotten the essence of the Gospel. They had forgotten the main event that defined who they were: that Jesus Christ had died for their sins and rose again:
For what I received I passed on to you as of first importance: that Christ died for our sins according to the Scriptures, that he was buried, that he was raised on the third day according to the Scriptures” [I Corinthians 15:3-4)
If we can lay hold of this glorious truth--or rather let this glorious truth take hold of us, then everything else that we deem so important will fall into its rightful place.
Saturday, March 20, 2010
Has it really been 39 years?
Certain dates tend to stay etched in my mind. Not to sound morbid, but this is often the case with anniversaries of deaths. Not that they are constantly on my mind. Rather, like a macro lying dormant on a hard disk, they self execute with the arrival of the date.Friday, March 19, 2010
Dear Congressman
Dear Congressman:
I am not a constituent in your district, but I might as well be. I know you are experiencing a great deal of pressure from all sides. Probably the most intense pressure is coming from the President of the United States, the Speaker of the House and the Majority Whip. With formidable carrots and sticks, they are doing everything in their power to persuade you to vote for a so-called heathcare reform bill. I have a suggestion. Instead of listening to them, listen to your conscience and listen to the voice of the people in your district.
Friday, February 26, 2010
The Noncensus of it all!
Failing to count illegal immigrants, local officials say, will reduce federal funding around $1,000 a year for each ignored person. And counties are looking for ways to offset costs that arise from providing health care and school services to thousands of residents who don't contribute taxes.
Some might be surprised at my take on the immigration issue. Though I am politically conservative, this is one area where I part company with the right. As noted in a previous post:
Friday, February 19, 2010
Are We Out of the Woods Yet?
Don’t get me wrong. It’s not that situations like this don’t sadden me deeply. Marriage is sacred. And I grieve over those who are deeply hurt when one or more partners break their vow. Even when in the midst of the wreckage of the relationship both partners bravely attempt to forgive, mend and restore, it has to be terribly painful.
This is one reason I had little interest in the public apology. To whom in the public does he need to apologize? Yes, I suppose he should issue an apology to those whom he let down because they had looked to him as a role model. But this is more of a sad commentary on our society, where we elevate and lionize people who can run fast, score goals, break records or get a silly 1” diameter ball to fall into a hole with the fewest strokes possible. As impressive as these feats are, are they really the makings of a role model?