Dubious and Detrimental Economics

     As we continue with the A-Z blogging challenge I'm highly dubious of the competency of our government right now.  I got a letter last week from the IRS stating that in auditing my 2011 tax returns I'd missed $7,075 dollars in income and owed them $4,000 in taxes and penalties next week.

     Just to be clear, I worked seven part time positions that year, mostly as adjunct faculty at both graduate and undergraduate institutions and made less than $50,000 total.  I did have two 1099's (not W2's) that year, which coincidentally, added up to $7,075.00 and show on Schedule C of the tax return as self-employed income which I've had some variation of since 1982 without ceasing.  That would be on page 4, where 1099's go, not on page 1, where W2's go.

    In a week where I'll put in over 70 hours for five different employers while finding time to complete the homework for my ongoing PhD I was actually able to laugh when I saw it because I knew I didn't owe them a dime.  Yet as days dragged by where I didn't have time to respond, I became more and more incredulous.

    This focus in many states as well as the Federal
government that we can solve our deficits and create job growth by cutting taxes on corporate profits and the wealthy and shifting it to the poor and middle class is so cruel and illogical, I can't fathom how folks believe that will work.  Specifically because in 100 years plus of economics, it never has. Ever.

    Why in God's green earth would IRS employees be spending time looking for more taxes out of folks

making less than $50k a year, when there are several thousand millionaires who paid NO INCOME TAXES that year is illogical and an extreme waste of energy.  I know I don't have their lawyers, but I don't need a lawyer to point out how if you could read, you wouldn't have mailed me in the first place.  As someone who really believes in "Give to Caesar what is Caesar's and give to God what is God's" I wouldn't even consider cheating someone who can essentially take everything I may have acquired as a free citizen.

     I have nothing against those who earn whatever they are capable of. Nor would I tax them to death to give handouts to those who don't want to work and improve themselves.  Yet the data for those who can read on how destructive to society the oligarchy that's been enhanced over the past 30 years in this country is can not be denied.

     Take 15 minutes and watch this video, and if you're interested, do some research on your own or ask me for help.  Research is one of my best qualities and no, I don't agree with all of the data available on most subjects.  But I do believe we are our brother's keepers, whether we're related or not.  Whatever theology one aspires to, feeding the hungry, sheltering the homeless, and taking care of those less fortunate than you is a command.  There's very little theologically about tax shelters and self over society. Outside of Washington, D.C. anyways.

"When asked the causes of the 1929 Crash, President Roosevelt’s Chairman of the Federal Reserve, Marriner S. Eccles, compared the economy of the late 1920s to a poker game: “Where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped"

 

Sound like our economy?