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Saturday, December 25, 2004

Christmas Mornin'

Good mornin' and HO HO HO...
Just put on a little Christmas music; Hendrix/Voodoo Child; helps set the tone for the day.
A quick cleanup from last nights big sloppy burger mess with tunes in the background and start another load of laundry. No tree this year. None of the commercial hoopla to celebrate today.
The Mrs is at work; later we'll have a nice dinner and open up a bottle of wine. For now a little blogging, surf the news and boards, some mornin' chores, drink some coffee and watch the birds...cool, calm, collected...

A number of news issues w/Social Security and what to do.
There is a connection between SocSec and Taxes. It seems one issue usually leads to the other.
Some feel that the Social Security system is a ruse; just another tax. It's human nature to resent the taking of your hard earned money and not knowing if you will get any back. Why our Government collects the money from SocSec and FICA then spends it on other stuff ; I don't know. The idea using this money to pay another bill seems like an unethical business practice or just bad accounting. It seems to me these monies should be held in an interest bearing "escrow" account. The co-mingling of funds seems like a bad idea.
On the other hand it has been suggested to phase out SocSec and introduce a flat tax. A flat tax w/no income cap. For example singles that make 25k a year or less pay nothing; couples 50k same deal. Over 25k or 50k for couples pay 15%. Even if you make a billion; you pay 15%. What a shot in the arm that would be to the economy. Those that need economic assistance would apply for it and those that don't need it won't get any.
I would like to see some figures in comparing the present tax system w/IRS and all the expenses from it and SocSec against a phased out old tax system, IRS and SocSec replaced by a 15% flat tax w/out caps.
Would like to see if it would float. Simplify a convoluted system seems like a logical approach.
Don't know if our Heads of State could handle it; just wouldn't be "business as usual politics".

BTW..Have a nice day and great 2005.

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