So besides paying taxes to support our own towns and cities, we are now hearing about the lists that other cities are creating to give to Obama to improve their cities with bailout money. The first is New York City. I have to say that I like the fact that Bloomberg plans to take advantage of any money that will be available for his city. It also says that he wants to take advantage of Obama, who thinks spending money will improve the economy. I just keep wondering where the money will come from because I think a lot of the rich are making plans on how they can make less money and pay less taxes, if their taxes are going up. What gets me about going after the rich, it seems to be forgotten that they pay the majority of all taxes and the more they are taxed the less they can spend in the economy.
Of course, are we surprised when Obama is getting a lot of support (read as donations) for the inaugraration from Wall Street. They figure pay a little now and get the big bucks later.
Then, there is this little town who has realized that it will benefit its citizens by asking for bailout money as well. Gotta admire a town that decides to play with big boys.
Why isn’t anyone realizing that it won’t be the rich that pay for this. The really rich know how to avoid taxes, look at how much Warren Buffett pays on a yearly basis in taxes. It will be those of us who have worked hard and saved hard that will be hit as well as those who die and rather than their hard work going to benefit their heirs, it will go to the state. Oh, and don’t forget the widows who will have to sell their homes to pay the inheritance taxes on it because it was in their husband’s name. So, once the state gets all the money it can from the dead and the “rich”, where will the money come from? Those of us who work hard and pretty much live from paycheck to paycheck.