More on Tax Cuts (or not for some) OR Just Gifts for Rich

So my last posting had to do with the proposed tax cuts (or not). Personally, I think calling them tax hikes provides the wrong message.

I want to refer to the current plan as tax stasis -- stopping the bleeding of the money from the middle class to the upper class as I outlined in my previous post. We all know that the current economic distress is not affecting everyone equally. The rich got richer and everyone else got poorer.

I’ve heard the following arguments about the current tax proposals:

1. Let the tax cuts stay for everyone
2. Let the tax cuts expire for everyone
3. Let the tax cuts expire only for the rich

I find myself voting for item number 3, and I’ll let you know why AFTER I share why I don’t agree with the first two options.

1. The first option doesn’t make sense to me because the Bush tax cuts have cost $2.1 trillion and with the taxes on that, it actually comes to $2.5 trillion. That tax cut along with the cost of two wars has led us to move from a surplus of $236 billion to where we were at the end of 2009, which is the debt incurred by the passage of the TARP fund.

This just doesn’t make sense for me either because we have to somehow get out of debt, right? So, how are we to get out of debt (as a nation) if there is not an increase in revenue?

I realize that spending cuts are an answer, but not one person in government is actually going to do that. No one wants to cut military spending, which by the way is a very, very big expense. No one dares touch Social Security or Medicare, even those who are against “socialized medicine” (yes Tea Partiers and many Republicans, I’m talking to you). They are just platitudes -- efforts to get re-elected. I’m not saying that Democrats are innocent either. They are wanting to get re-elected as well. (As an aside, I don’t see how Rangel can even contemplate running for re-election -- jerk.)

2. Simply put, it’s a combination of 1 and 3, so read on (please?).

3. Okay, I have many reasons for this one, so many in fact that I had to make a checklist.

        ❑        First of all, they don’t create as many jobs with their surplus money as many would like to argue. In fact, they are more likely to hang on to their money -- to invest it in the markets. If you don’t believe me, then think about what caused the current crisis. It was (partly) a result of people speculating with money to make more money; they didn’t create more jobs with that money. In fact, we can look at what happened during the crisis to see that they (the 2% of the rich, I mean here) did. The government gave them money to help the economy recover. And what did they do? They fired people and subsequently made more money! WTF?!?

                They got richer!

        ❑        Okay, okay.... so here’s another ditty. Some argue that the rich will use that extra tax break to create more jobs. (Did I just list that above? Oh, I must be trying to make a point here.) Even though I’ve partly shown that they don’t do that, here is something to get you thinking: did you know that someone who makes $500,000 -- and when I say that they make this, I am talking about taxable income, not gross income -- will pay about $10,000 more in taxes if the cuts expire? How many people does that employ fulltime? None? Oh, okay. Just checkin’. If you want to plug in your numbers, go here: http://www.mytaxburden.org/. You can check my math as well. If you take into consideration tax write-offs, etc. you can see that someone who clears $500,000 is making some change there. And this bears repeating: they don’t save enough in taxes to create but one part-time job.
        
                So to tell me that they will create new jobs is absolute bunk.

        ❑        I’ve heard some say, “Well, it’s not fair to punish them. Shouldn’t they be able to keep their money to make more?”

                What kind of logic is that? Let me recap for just a bit before I continue: they got rich off of us! It’s that simple.

        ❑        There’s more. Here is part of how they got rich: they took their cash overseas! Got that? In an economy where they have “Bush tax cuts” they are taking their money out of the U.S. They aren’t reinvesting that money in our economy, they aren’t creating jobs with it, and they aren’t paying more in taxes.

        ❑        So let’s continue with why I vote for number 3. We find out that about anywhere from 21% to 30% of people who make around $100,000 / year are living paycheck to paycheck (depending upon which source you consult). The proposal currently being floated is to let the current rates expire for those who make (those who clear) $250,000, and that is 2% of the population. That is the population that most likely benefitted from the crisis, that is the population that least needs the tax break, that is the population that is sending our money overseas. Those who make less than $250,000 could use that extra money, just to make it to the next paycheck.


Any questions about why I think we should let the Bush tax gift for the rich expire and keep it for everyone else?

I didn’t think so.

Comments welcome below.
                
        

Tax Breaks for the Rich = Trickle Down Economics = Doesn't work

This is going to short(er) and sweet -- perhaps bitter to some?

I understand that everyone wants a tax break. What I don’t understand is why people are defending raising taxes on the rich and leaving the other 98% of us with a tax break.







Let me provide two reminders:

1. Remember how the government helped out some very troubled companies? Yes. Okay, do you remember what they did with that money? Let me think.... oh yeah, they fired people and gave their CEOs bonuses.
2. Remember how we used to have a budget surplus at the beginning of Bush’s term? Yes. Okay, do you remember how we had a huge deficit at the beginning of Obama’s? Let me think.... oh yeah, we had higher taxes then.

I realize that many people are mad at Democrats for not fixing the economy, but what I can’t wrap my mind around is the blame that Republicans are shirking, as though we should let them run the country’s economy, one that went from a surplus to a deficit.

What Republicans are promoting now is that we should keep taxes low for everyone. Why everyone?

I don’t get that one.

When the rich have gotten money from the government, they haven’t created more jobs, so what kind of argument is it that we should give them more money (continued tax breaks)?

The truth is that many wealthy people pay less in taxes than what they say they do. They have more loop-holes. Don’t believe me? Well, it’s your job to prove me wrong.

I know... I’ve seen those charts and heard those arguments that show they pay more in total taxes, but have you seen the ones that show they continued to get richer during the current crisis while everyday people did not?

Start here: http://www.businessinsider.com/not-everyone-is-hurting--the-rich-get-richer-as-the-income-inequality-gap-explodes-2010-3

If after reading this, you still think the rich need to have a continued tax break, then I don’t think you’ve really done your homework. Remember, I’m talking about the rich here, not most of the people reading this.

Bathroom Renovation - Day 1 million (not really, but it feels like it)

So here’s the gig:
Heidi and I are doing a partial update to our bathroom because of a leaky shower door.

About 3 months ago, Heidi noticed some black mildew/mold growing on the baseboards near the shower door after she had touched up the baseboards with some white paint. Apparently, the water was “wicking” up the wall, just outside the shower.

After saving up money over the summer, we decided to get some quotes on what it would cost. The number we are working with is about $3,600 - $3,800. This will involve demolition of the existing shower (kit), the floors (linoleum), and the tub surround (ceramic tile) and installing porcalain floor, shower, and tub surround and new shower door.

We have been back and forth to Lowe’s about 5 times trying to figure out what tile to get. I’m trying to find something reasonably priced and Heidi wants what she wants. I don’t blame her at all; I’m just thinking that someone who would buy our house (if we ever sell) will have a difficult time telling the difference between $1.50 tile and $4.25 tile.

So, that’s where we are... in holding pattern for now until we determine what we want. And in the meanwhile, I guess we’ll all continue to live out of the guest bathroom.

I’ll update when we start moving somewhere with this, but as you can tell from the picture below, Heidi’s wishing it was already completed.

Blueberry Picking - 2010 (and some dinner!)

Yesterday evening, we went blueberry picking at the Yules’ small farm, which is located in Alvaton, Kentucky. We went last year and thoroughly enjoyed it, actually going back a second time with some friends.

This year, it was just the five of us, and this year, we were invited to stay for dinner.

We had planned on going last week, but Heidi and the kids had some awful crud/bug. Unfortunately but understandably, many of our friends who were planning to join us had to cancel because -- well -- they just didn’t want to get sick. Can you blame them?

So we rescheduled with the Yules and we’re glad we did.

We went out to their place around 5:30 pm and picked for about an hour, harvesting roughly 7.5 lbs of berries, which amounted to just over $21.00. In case you can’t imagine how much that is, think about those little, cube-shaped containers at the grocery store; they are a pint. A pint of blueberries weighs just under a pound (about 3/4 of a lb). So, if my math is correct, we picked about 10 pints of berries, a decent haul for 2 adults (and 3 kids under 5).

I realize that it’s blueberry season and that we could probably have gotten them from the store at about the same price, but I don’t think I can quantify the memories or the experience. Actually, I’m positive that I can’t.

The kids had a fabulous time and Lyliana was the best picker of all of them (although Calixto was the cutest as he would lose his balance and roll down the hill crashing into the bushes!!!). Even after Anastacia, Heidi, and Calixto had stopped picking, Lyliana would not. She stayed out there with me to pick an additional 2 lbs of berries. She was sweet, telling me that she wanted to stay and pick with daddy.

With the blueberry picking over, we all went inside their home -- a 2-story Victorian-ish complete with a nicely finished basement, a home which Channon built himself and for which he has many, many wonderful stories about. Making a trip out there is worth just hearing their life stories.

They fed us some wonderful corn, steamed veggies, and steak ---- yummy! The kids had hot dogs (but I think they would have preferred steak and they were very gracious about it --- so proud of their manners). Dinner started off on the wrong foot as Lyliana began to have meltdown, about which I don’t recall, but after putting a bit of food in her belly, she calmed down. Anastacia was a polite princess, and the prince was a pain in the .... well, he didn’t let Heidi relax.

After getting the sippy cup that he was coveting, he was content. And well, this was also after Pearl brought out some toys to occupy him.

Dessert? You betcha! ; ) Blueberry cheesecake, of course. I had more than anyone else because I had given Lyliana my plate which had ice cream which I don’t terribly like with my desserts. I had more cake because I HAD TO finish what Lyliana couldn’t. Guilty? Not a bit. Do you know how guilty I would have felt if that dessert had gone to waste?

By this time, we were all full of food but not yet full of conversation. The Yules gave us a quick tour of their home, including their first home -- the basement, which was finished, complete with kitchenette, bathroom, and three bedrooms -- pretty cool, I think. After giving us some history of their first years on their 17 acres, we went upstairs into the living room.





Channon brought out some duck calls that he had carved. The kids stared in amazement as Channon showed them how to use them. Apparently, Channon gets his craftsmanship honestly; his father James Yule is a world-renown duck and turkey call carver. Some of his calls have fetched over $3,000! From what I recall of our conversation, Channon plans on following in his father’s footsteps, which I have feeling he will have success in doing.

• http://www.thepineywoods.com/JEYule.htm
• http://www.electricscotland.com/history/world/bios/yule_james.htm

As much as we would have liked to have continued our visit, a different call was being made. These calls were being signaled by a 1 year-old boy. It was past his bedtime.

We left their farm around 9:30-ish, traveling up their long, winding, gravel driveway catching glimpses of fireworks being fired around the area.

Our night wrapped up quite late as Anastacia and I lit a few fireworks at home: some sparklers, growing snakes, and a few colorful fountains.

All in all, we had a fun pre-4th of July night. We hope to go out again before the summer is over. To catch some more photos of our visit, you can view them here: Blueberry Picking 2010.

Avgolemono -- Lunch!

Yesterday, Heidi made an ice-cream cake [recipe only] that called for a good amount of egg whites -- a cup.

And so naturally, she had a good number of egg yolks left over -- 7 of them.

Today, when I got home from teaching my summer literature course, I thought I would browse the internet and find some recipes that called for egg yolks as an ingredient. I had made eggs benedict before, but we didn’t have any other ingredients necessary for that except for the egg yolks. I could have made some ice cream, but that wouldn’t have used all the eggs, and besides, that would mean we would have to wait for the core of the ice cream maker to freeze.

What to do? Google!

And so I did, and I came across a site that provided numerous recipes, both savory and sweet, that called for egg yolks. The very last recipe called for 8 egg yolks, and it was for something I had never heard of, something called Avgolemono. Apparently, this greek soup is quite simple: egg yolks, lemon juice, broth, and rice.

Here is the basic recipe I followed taken from epicurious.com:

http://www.epicurious.com/recipes/food/views/Avgolemono-15607

Ingredients:

4 cups basic chicken stock [for a vegetarian soup, use Garlic Broth ]
6 tablespoons (90 g) Carolina or other long-grain white rice
8 egg yolks
1/4 cup (65 ml) fresh lemon juice
coarse salt, to taste
freshly ground black pepper, to taste


Preparation:

In a medium saucepan, bring the stock to a boil. Stir in the rice and cook until tender, about 8 to 10 minutes.
Meanwhile, beat the egg yolks and lemon juice together in a large bowl.
When the rice is tender, slowly ladle half of the hot broth into the yolks to temper them, whisking constantly. Whisk the egg yolk mixture into the broth and place over low heat. Cook, stirring constantly, just long enough to thicken the soup. Do not boil. Season to taste with salt and pepper.


This was so easy to make. The most difficult part was tempering the eggs, but even that was not that difficult.

I did make some modifications.

        ✓        I used some leftover quinoa from the day before (Inca Red variety) and used it in place of the rice. And so, when I “finished” the dish, I poured the broth over the quinoa in bowl and let the broth heat it up.
        ✓        I didn’t add salt because I was using chicken broth that already had plenty of salt. Plus, the quinoa from the day before had been cooked in the same broth and would add that flavor/salt as well.
        ✓        I only had 7 egg yolks, and the soup didn’t come out as thick as I thought. I have read, however, that the thickness varies from recipe to recipe. I may have wanted it a bit thicker; maybe next time I’ll add some corn starch or beat the egg whites separately to thicken it.
        ✓        I added other fresh herbs from our garden beyond the dill called for in the recipe: purple basil, sweet basil, and oregano, all of which were added in the cooking process and later garnished the bowl.
        ✓        In addition to the herbs, I added some fresh snow peas and a few pieces of fresh pole beans (again, from our garden!) and about 1/4 of cup of diced yellow bell pepper and leftover grilled chicken.
        

The girls didn’t like it, but Heidi and I thought it was quite tasty. It did have a tang to it because of the lemon, but the fresh herbs helped to balance that out: the oregano added a slight spiciness and the basil and dill helped pull back on the tanginess. From what I gleaned online, this base stock has many uses.

Oh, and I can’t forget this picture of the final product!

How do they do it?

This is going to be quick and to the point.

How the heck do single parents juggle everything?

I’ve been watching our three kids (all under age 5) while Heidi is out of town. It’s not that it’s hard to watch/care for them. What is difficult is keeping up with everything: laundry, dishes, meals, and work!

I have total respect for single parents.......total.

Stepping Stones and little helpers

This morning after the kids and I ate a filling breakfast (eggs, biscuits, and gravy) and while Calixto was taking his nap, the girls and I spent a few hours piddling around outside.

The first thing we did was make stepping stones, which I bought for them for Christmas and had been promising to make every month since then. It was a messy enterprise and definitely takes a great deal of patience (on the part of the kids). I don’t have any finished pictures to post here because, well, the stepping stones are drying (undisturbed!).

We then went around back and planted a purple basil plant that we bought at SKY market, and upset a large ant hill -- ooops! -- the kids went scurrying.

Shortly thereafter, I decided to complete a deal that Heidi and I made about a month ago. The deal was that I would be able to get rid of the Henry’s Garnet, which in opinion is nothing short of showy weed, if I gave her $200.00 of spending money. The plant is invasive, so if you don’t mean to keep it everywhere, don’t plant it! I dug up more shoots from the front area and dragged the potted plants from the back to the front for the time being (I had to move them to dig out the shoots growing in the back!).

And now we are waiting on lunch: green beans and carrots that Anastacia helped arrange in the pan. I think she did a good job.

Next? Lunch and then some grading.