Thursday, September 25, 2008
Taxes
I'm pretty much a financial illiterate for any thing other than the basics. I don't like to borrow, lend or owe money. I'm a very conservative investor. I'm not looking for a %30 return, but I'd like to get something back from my investment. Over the last year I've watched my banks savings account, CD interest rates and 401(k) plan all drop drastically. For all that, I can't believe the candidates are talking about tax cuts.
The country owes so much money it will never pay it all back. And we're about to owe more. The country wants to come up with $500 - 1,000 billion to throw after a bunch of bad debt. That money will be going to places who gave away too much money to to many people to spend on things they had no business spending it on. As financially stupid as I am, it doesn't come as a surprise that making a house loan to people who have to take out a loan to make a down payment on the loan is bad business. That situation means that people who have been so close to their financial edge that they can't afford to put any savings away are getting a loan which means they have to spend even more money on to pay back.
Now the powers to be said they want to cut taxes. The country is going to be spending bazillions of dollars more but they plan on taking in more. Even to someone as financially challenged as I am, it would seem that taking in less money and giving out more money is going to cause problems. As near as I can tell, the government is going to a little secret room in the White House and pull out $800 billion from Lincoln's mattress and lend it to people who don't know how to lend money in the first place.
So now, not only don't I know where all those lost dollars went, I also don't know where all these new dollars are coming from. All these dollars appearing and disappearing can't be good. And when I mean all these dollars I'm talking about so many dollars that probably not more than a few people can really grasp how many we're talking about. Multiple trillions of dollars lost and made - you tell me where they are.
Labels: government
