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Tuesday, October 14, 2008

AHA...McCain has an ACORN connection...

Thanks to Momocrats, for finding this little piece of nostalgia from 2006. McCain appears near the end and has high praise for the many organizations present, and apparently as a U.S. Senator, I am sure he knew who he was going to be addressing beforehand! Aren't we amazed how these politicians have memory issues regularly and definitely when convenient?


McCain just made a speech in Blue Bell, PA, and introduced his "new" economic plan, which was supposed to be introduced yesterday, but then aides said no there was not going to be a new economic proposal, and on and on and on....! Reality folks...anything proposed by either candidate is just words at the moment. Any number of these proposals would still have to follow the chain of legislation to fruition before we would see ...a change. I do not see how, well yes I do, if a RUSH is placed on these tax issues, starting January 21st - that our 2008 taxes would be affected. The IRS is not overly fond of having to redo tax booklets, tax law and forms, and this process is already started for the upcoming season.

If the Senate and House are in session, now is the time to get back to Washington and introduce these measures. I would much rather see our representatives working on these issues right now, than this stimulus package they are proposing. I have to admit that I do not see another "stimulus" as practical, not to mention the fact that WE ARE BROKE!!

Now for some reality...although I like some of these remedies, as proposed by the candidates, with the market and economy changing daily - I have to question if some proposals may be premature, do they address the right areas, and are they the right move for the future? I just don't think EITHER candidate should be throwing out all these proposals to appease the public for the sake of a vote - it is a much too serious matter.

One proposal I AGREE with is to lift the taxation on unemployment benefits. Unemployment benefits have only been taxable since 1986. (Reagan proposed this in '82). The treatment of unemployment benefits up until that time was as follows:

  • Singles with AGI of $12,000 or more (formulated portion of benefits taxable)
  • Married couples with AGI of $18,000 or more (formulated portion of benefits taxable)

I don't remember the actual formulation at this time, but after factoring in exemptions and itemization's, the taxable portion was usually low. I was against the taxation of these benefits when it was introduced (Republican tactic) - because it totally boggled my mind that these people, who did not ask to lose their jobs, were now being told they had to pay tax on the benefit. The clincher was - the state unemployment offices DID NOT withhold on these benefits originally - the burden fell entirely on the taxpayer. Withholding federal taxes came into play within two years I believe. State withholding began in the last decade.

Now for my debate hypothesis. I expect John McCain to say "my friends, we have to be very afraid of Obama, because he is dangerous - look at the domestic terrorist he hangs around with, Bill Ayers! " I just know the curmudgeon is going to address this - to endear himself to the wacko, brain dead, gullible masses. BUT - I then expect Obama to say, "well Mr. McCain, can you explain to this audience and the rest of the country of you close friendship and bond with G. Gordon Liddy, who STILL IS a domestic terrorist? ...and let the fireworks begin.

I'm sure Stephen Spielberg could do a much better job at painting this scenario - but I do my best.

It is a cloudy, yucky day today (but warm) and I feel like doing nothing! I spoke with theson on Skype and he will be heading back to Egypt tomorrow - after his fun times in Munich and Prague. He says he has some painful blisters on his feet from all the walking...but beer helps! Give me a break. I just happened to check a long range weather forecast and apparently next Wednesday, we are supposed to have SNOW!!! the high temps will be in the low 40's.......now that sucks bigtime!!!

Ciao for now - have a good one!

1 comment:

Anonymous said...

I was thinking about you today when I heard on CNN the reminder about Biden's stopover in your area.

I like the no tax on unemployment benefits, too.