Wednesday, November 25, 2009

Tax, Tax, And More Tax to Prosperity!

for the U.S. government. Not for the citizens.

Health care deform, oops "reform": increased tax for the "wealthy" as defined by the government, penalty for anyone who don't buy insurance, increased cost (insurance cost, medical equipment, pharmaceutical drugs) for everyone because all these entities will be taxed on their gross revenue of their services and products.

Crap, oops, cap and trade: even the Obama administration admits it will be equivalent to 15% income tax hike, so that Mr. Gore and his ilk can mightily profit from their "entrepreneurship". If the government says 15%, double that as a matter of course. They will cook data to fit the "religion".

War surtax: 1 to 5% extra for everyone with a taxable income, 2 to 10% extra for every corporation with a taxable income, whether you support the Af-Pak war or not.

Trading tax (yes they are yakking about it again): 0.25% on the trade. You buy 100 Apple Inc. (AAPL) shares and pay your discount broker the commission ($6 to 12), and you pay the tax of $50 so that the government can create new jobs. If you use a broker who lets you trade for free, the trading cost skyrockets to infinity. If you trade AAPL 5 times a year (buy or sell) and AAPL remains more or less at $200/share, that will be the end of your first $100,000 transactions for which the government will generously refund the tax. If AAPL surges to $300 you will get to fund the job growth with your $75 that you would have kept otherwise.

What a joke. Every single one of them. I would be surprised if Americans take them lying down. But I've been surprised before.

It would be a miracle if the economy and society ever recover. But a miracle has happened before, I suppose.


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