Payroll Tax Cut and the idiots in Washington DC

I generally like gridlock in DC because that means the idiots in Washington DC are not passing laws that will damage our country.  The problem is now that our country is deeply in debt and has a large number of problems that truly need addressed gridlock is not working out so well.

And I have news for Democrats and Republicans alike; each major Political Party is AT LEAST 40% responsible for these problems.

The Reps and Dems agreed to a stupid plan last December to “TEMPORARILY” reduce the amount of social security taxes that employees pay into the system for 2011 only.  This lowered the employee portion of the tax from 6.2% of wages to 4.2% of wages up to the annual cap.  This was stupid for many reasons including:

  1. Social Security is already on an unsustainable fiscal path.  The Federal Government dropped another IOU into the system that will have to be paid back by A Federal Government that is already over 15 trillion dollars in the red.
  2. This change was enacted in December and so the affected Government agencies all had to scramble to deal with this last minute change to the laws.  The same is true for the private sector and employers and their payroll providers.
  3. The change was of course temporary…
So now some of the idiots in DC (In this case it was the Democratic idiots in DC in the US Senate) decided to pass a two month extension of the payroll tax cut and then left town for the Holidays.
This temporary payroll tax cut the Democrats want is wrong for several reasons:
  1. The main problem is it creates new rules that there is not enough time left to implement.  This new change to the law will not be implemented properly by many employers and many Government agencies IF it is even enacted into law by the Republicans in the House which I doubt.
  2. The House Republicans do not want to pass it this way.
  3. It is temporary and kicks the problem down the road.
What a mess…
As a CPA this has the potential to make me a lot of money.  Every time the idiots in DC (Both sets of idiots in DC I might add) pass laws like this firms like mine make a lot of money.
Mike Sylvester

Jim Howard to Address the CBC on 12/5/2011

Just a note to let you know that Jim Howard, past Director of Purchasing for the City of Fort Wayne will be addressing the Conservative Breakfast Club tomorrow morning at 7:30 in the Window Garden Cafe on the 13th floor of One Summit Square building.  You can buy your breakfast or just come to comunicate!  We alway finish prior to 8:45.

The Changing of Times in Downtown Fort Wayne


President 2012

Who do you currently support for President in 2012 and why?

I am unimpressed with the field.  I obviously will note vote for President Obama; he has been a disaster.

On the Republican side my current thoughts are:

  1. Huntsman is too moderate for me.
  2. I have always liked Ron Paul and he will likely get my vote.
  3. Mitt Romney flip flops too much for me and is too moderate as well.
  4. Bachmann just does not trip my trigger.
  5. Santorum is a conservative; however, he is just not an impressive figure.
  6. Gingrich is the smartest guy on the stage; however, I dislike his personal baggage nor do I trust him.
  7. Perry has truly embarrassed himself.
  8. Herman Cain is not ready for prime time and he may well be a liar.
Looks like I will be voting for Ron Paul again…
Mike Sylvester