Posts Tagged ‘national debt’

Those cool people at CBS Sunday Morning recently reported that IRS collects only 85% of taxes due.  In 2006, the uncollected 15% would have been 385 billion dollars and during the last decade the amount was 3 trillion dollars. 

From fudging on deductions to listing someone else’s kids, the tax code invites cheating.  When Senator John McCain was running for president, he pulled a post card from his pocket and said that the tax filing form should be that size.  I say everyone should pay a personal income tax of 14% but what do I know.  Last year, the IRS fired 5000 employees when they should have been adding tax collecting personnel.

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Legendary University of Alabama football coach Paul “Bear” Bryant had to know that his team would eventually get/need Black players and that the Tide faithful would not have it.  Supposedly, Coach Bryant colluded with University of Southern California’s John McKay to pit their teams against each other.  Bryant knew what would happen; USC Sam “Bam” Cunningham would run all over the place and in time coach Bryant’s famous hat would not be the only thing black and white in the Tide’s locker room. 

I have been troubled for some time about our mounting debt with China..Red China…Communist China…Forrest Gump from Coach Bryant’s Crimson Tide played them in ping pong China. What is going on here?  We are borrowing money from China to spend in Iraq and Afghanistan and to stimulate our economy, which took a nose-dive when Wall Street ran amuck without federal oversight.   

Today, every citizen is an expert on everything and all of the politicians and leaders are clueless.  Despite what we see on T.V. news and the Internet, I don’t believe that.   Maybe America’s economic experts are “colluding” with Chinese leaders to ensure mutual cooperation with this crazy debt—similar to coaches Bryant and McKay.  Is the new Cold War actually a Cold Cash War since you can’t get your money if we vaporize each other in a nuclear nightmare.  In south Georgia, an old saying goes, “as long as I owe you, you will never go broke.” 

An older saying from Shakespeare’s Polonius in Hamlet advised, “Neither a borrower, nor a lender be; for loan oft loses both itself and friend.”  I heard that at my Black college in class but in the dorm I heard dude say to his friend, “Do you want to pay me my money or do I need to take it out your a….”  There is definitely a benefit to be exposed to various people and cultures and I hope our “situation” with China goes well.

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