Hoping For Change

August 7, 2009

Well, well, well. So here comes Barack H. Obama and the rest of the boys, suggesting that indeed new taxes on the sacrosanct “middle class” may well be on the way. So much for hope and change–reality may be setting in, and what the Democrats show, now, is that they’re more likely hoping for change–more than just pocket change–from more than just the “rich.”

            Quoth Geithner, last Sunday, on ABC’s “This Week”: “We will not get this economy back on track, recovery will be not strong and sustained, unless we…can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established.”
            Translation: he’s hoping for more of your change.
            And even the exalted one, Larry Summers, noted on CBS’ “Face the Nation” that “I think we have a ways to go. I want to emphasize the basic realities. Unemployment is still very high in this country.”
            Oh really.
            He went on to pontificate that it’s not a good idea to eliminate future taxes from the equation.
            What a surprise.
            “There is a lot that can happen over time,” noted Summers. “But what the President has been completely clear on is that he is not going to pursue any of his priorities–not health care, not energy, nothing–in ways that are primarily burdening middle-class families. That is something that is not going to happen.”
            So, who’s kidding whom, here?
            And for those of you who’ve been wondering how the government can truly move into a savings mode, how about B. H. O.’s latest edict to all government agencies: figure out a way to find $100 million in budget cuts for the new fiscal year.
            Recall when $100 million was real money?
            So now we’re looking for ways to save $100 mill–here comes the Forest Service, which has pledged that it will no longer paint its white vehicles green. Wow.
            And then there’s the Office of Thrift Supervision, which has identified unused telephone lines costing $320,000. And the Justice Department which estimates it can save $573,000 through fiscal 2010 by using both sides of all of its paper messages! And Homeland Security will pocket $318,000 by emailing more documents. Whoopee.
            Yeah, we make fun of the government departments, but what’s real sad about all of this is the attitude: Obama spends trillions and tells the underlings to find ways to save some millions. Nice gesture. But give us substance, not symbolism. How about a government which just gets out of the way and allows the private sector to set its own agenda?
            What a concept.
CONSULT YOUR TAX ADVISOR – This article contains general information about various tax matters. You should consult your CPA regarding the implications to your own particular situation.
            Jeff Quinn, the author of this article, is a shareholder in Ashley Quinn, CPAs and Consultants, Ltd. with offices in Incline Village and Reno. He is also a contributor to the recently published twelfth edition to Tax Savvy for Small Business, published by Nolo. He can be reached at 831-7288, and welcomes comments below.

Leave comment