Tag Archives: Tax Policy

Occupy Wall Street – On Taxes

Woman Dancing on the Bull

“Taxes are the price we pay for civilization.” – Oliver Wendell Holmes.

Progressive tax structures are not about punishing the rich. They are a recognition that wealthy people – like everyone else – derive benefits from being in society. Warren Buffett, Steve Jobs, Bill Gates, Michael Jordan, Oprah, for example, got rich because people buy their products or watched them play basketball or on TV.  Paris Hilton is wealthy because her great-grandfather built a successful business. Their successes are wonderful. But their success should not require me to subsidize their lifestyles.

Continue reading →

Progressive Tax Policy

“Taxes are the price we pay for civilization.” – Oliver Wendell Holmes.

Progressive tax structures are not about punishing the rich. They are a recognition that wealthy people derive benefits from being in society. Warren Buffett, Steve Jobs, Bill Gates, Michael Jordan, Oprah, for example, got rich because people buy their products or watched them play basketball or on TV.  Paris Hilton is wealthy because her great-grandfather built a successful business. Their successes are wonderful. But their success should not require me to subsidize their lifestyles.

This tax structure can be implemented by October 31, 2012, and effective January 1, 2013, if not by Congress, then by Executive Order.

| Follow LJF97 on Twitter / Tweet  / Zuccotti  / mp3 | Continue reading →

Debt, Catastrophe, and Foreign Entanglements

Follow LJF97 on Twitter
Tweet
A young father of our country. The battle raging today between Democrats and Republicans will not solve  the nation’s debt problems, nor avert a financial catastrophe in the future. The politicians do not appear to have a handle on a comprehensive solution to our financial woes. I’m not certain that I do, either, but I feel an obligation as a citizen and a stakeholder in our nation’s present and future to present my ideas and add to the debate.

The issues, as I see them, revolve around the debt ceiling, government obligations, the economy, consumer debt and what George Washington might consider foreign entanglements of the kind he warned us against in his farewell address. The solutions must benefit the American taxpayers today and in the future. Here are the issues and some ideas toward resolution. Continue reading →

Roughing It

Interior of Pilatus PC 12.  Follow LJF97 on Twitter  Tweet A s they struggle to pay their bills, forced to work, the wealthy cope as only they can. By sending their children to summer camp in private jets. In  “To Reach Simple Life of Summer Camp, Lining Up for Private Jets” Christine Haughney, in the New York Times,  July 24, 2011, wrote:

 “A turboprop Pilatus PC-12 carrying Melissa T., her daughter, her daughter’s friend and a pile of lacrosse equipment took off for their home in Connecticut, following the girls’ three-week stay at Camp All-Star in nearby Kents Hill, Me. Shortly after, a Cessna Citation Excel arrived, and a mother, a father and their 13-year-old daughter emerged carrying a pink sleeping bag and two large duffel bags, all headed to Camp Vega in Fayette. … as the economy limps along, more of the nation’s wealthier families are cutting out the car ride and chartering planes to fly to summer camps. One private jet broker, Todd Rome of Blue Star Jets, BlueStarJets.com, said his summer-camp business had jumped 30 percent over the last year.”

A quick check on the Camp All Star web site’s “Dates & Rates” page suggests that 3 weeks will cost about $4500.  Trips, horseback riding and hockey are extra. Getting there on a private jet, would add $6,318 to  $15,240 per party, $2,106 to $5,080 per camper for a camper, his or her mom, and a friend.  As I tell people, it’s the trip, not only the destination.

Tell me again, Mr. Boehner, why the wealthy can’t afford to pay taxes?

Beechcraft 350, exteriorI did some checking. Went to Blue Star‘s website, priced a charter for three (3) from Allaire Airport in Monmouth County, New Jersey to Augsta State in Maine. I was surprised at how affordable it is. Blue Star offered 5 alternatives, all turboprops:

  • A Ratheon Super King BE 350, a 9-passenger aircraft, $6,318, which is $2,106 per passenger,
  • The BE-C90, a 6 passenger turboprop, $11,270, or $3,757 per passenger,
  • The BE-100, an 8 passenger turboprop: $12,151 for the trip, $4,050 per passenger.
  • The BE 200, in a 9-passenger configuration, for $13,043, $4,348 per passenger, and
  • The BE-200 in an 8-passenger configuration: $15,240, $5,080 per passenger.

These data are summarized in the table below.

Plane Trip Per Passenger, 3 passengers Per Passenger If Full
Ratheon Super King BE 3509 Passenger Turboprop $6,318 $2,106 per person. $702 per person for 9.
BE-C90, 6 passenger Turboprop $11,270 $3,757 per person. $1,878 per person for 6.
BE-100, 8 passenger Turboprop $12,151 $4,050 per person. $1,519 per person for 8.
BE-200 9 Passenger Turboprop $13,043 $4,348 per person. $1,630 per person for 9.
BE-200 8 Passenger Turboprop $15,240 $5,080 per person. $1,905 per person for 8.

I don’t know if the airline serves food, drinks, or offers in-flight movies. But caviar is only $115 per oz (Russian Sevruga, Caviar Express, Glendale, CA).