Cuz Conversate On: Obama and Economics

[ So, I'm having an email exchange with a younger cousin who asked me the following question: "So, what is your beef with the Democratic/Obama platform this election?  Is it the $9 minimum wage?  Drilling in Alaska?"

I responded with a brain spew rant, as I can do at times. I removed some of it and cleaned up of the typos, although I should just leave it alone and post it as the brain stream it was.

I was planning on writing something like this anyway, so my response allows me to do it. The first part deals with terrorism ]

Uhhh... I *WANT* the "Bush tax cuts" made permanent because I like having more money in my pocket. I'm sooooooooooooooo not on board with the hike in capital gains. We have mutual funds where we are saving money for the long term for certain goals. We have 401(K)s. I want to get on a better footing so I can get back to playing with stocks. And I *WILL* get back to being a consultant. This means I'll incorporate as an S-corporation or an LLC.

As an S-corporation or an LLC, at the end of the year, the money made by the S-corp/LLC gets passed
to the owner, (me), as income. If I'm fortunate enough to bring in a decent amount of money, I get hit with a nasty tax. It's a "well known secret" that people in my field get "billed out" at a rate that's about 1 1/2 to 2 times the hourly rate that they receive. Imagine all of that going to me. Imagine all of that going to you and then you writing the check to Uncle Sam. I did that before when I was a consultant. I wrote a check every month to the U.S. government and filed a tax return every quarter.

Yes, I know of the need to pay taxes. And even though I can't see paying the government a higher percentage than God (30% vs 10% and the government can't do squat about my soul), I know there are needs that must be met. I can't see how the government at the federal level, and state level considering Maryland, deserves more of my money when they are wasting SO much of it.

My goodness, the "ear marks"? And they want MORE money? How about cutting wasteful spending?