What a what to start your first day back in the office, I had been out for time with the family at Christmas. Then I went hunting for whitetail deer before season ended. (By the way no deer, but a bad day of hunting is better that a day at the office).
Anyway back to the issue at hand, on my desk is a letter from our CPA marked urgent. Dated December 20,2010
The recently enacted ” Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010″ is a sweeping tax package that includes, among many other items, an extension of the Bush-era tax cuts for two years, estate tax relief, a two-year “patch” of the alternative minimum tax (AMT), a two-percentage-point cut in employee-paid payroll taxes……… blah blah blah.
The very sound of this sounds like they, the Congress, Our Government, for the people by the people, is doing us a big favor. A favor? They are so arrogant, to think that we the people cannot see right through this ruse? An attempt to appease the tea party, conservatives and libertarians. Too bad the rest of the Americans or maybe drones as they should be called. Did not do those self important or appoint American Royalty a favor and voted the rest of the tyrants out of office. American Royalty? Another topic for another day.
I know, some of you are saying, you should be excited about the extension of the tax cuts. Tell me why I should be exited about more unemployment insurance benefits, the cost of this out-ways the tax cuts in addition this contributes to building or furthering the welfare state. As an employer in the State of Texas we pay 100% of the Federal and State unemployment, employee’s do not contribute to this fund period. Although some mistakenly think they contribute to unemployment.
Two or three part of this bill that really chaps by back side.
This 2% reduction to the employee in the Social Security payroll tax, first off S.S. is broke and we cannot not afford the current and coming liability what makes any common sense about that?
Also the employer will have to continue pay the Social Security payroll tax at the 6.20% rate. As one who handles our companies payroll and administrations, the first thing I though of was, our software that handles the payroll. When every one is trying to created job’s and the cost is already over and beyond, most of us will now have to pay software programing changes to calculate the employers portion of S.S. vs. the employees’ part? What was those buffoons in congress thinking of ? Oh maybe that is it, they were not thinking. Duh just another bill, vote for it because Mother Pelosi (The Wicked Witch of the West) said I should.
The AMT what is with this crap about a patch! Oh just put a band aide on it maybe some day the conservatives, libertarians with give up then we can increase it instead of sun-setting it as it should be. (Alternative Minimum Tax) look it up for more info.
Then this nonsense with the estate tax, it will be reinstated for 2011 & 2012 with a top rate of 35%. Where in the constitution does congress find the right to take an individuals hard earned estate, family business and or farm? In most cases they do not have the cash 35% of the value of the total estate sitting around so the heirs can pay the taxes. Many have to sell everything and in some case’s business and farms that have been in family’s for generations. This is tyranny, communism, socialist or redistribution of wealth. When this happens many of these small family business employee 1-100 American citizens, in lots of cases they loose their job and all of their benefits. So how does this help us? By the way they paid taxes on this estate many time over, at the local, state and federal levels.
Ok my time is limited, this is unedited, full of grammatical errors. I have much more to say, but lunch is over, this is end of month, got to close the books and I have been out of the office since the 23rd.
Just had to get it off my chest, and keep the fires of liberty burning. Maybe some one will read and wake up to the big mess we as a nation are in.
God Bless America.