Mutually sincere appreciation
I appreciated your piece on Facebook(“Facebook discussions”) in Volume IV, Issue 9.
Thanks Whitney! Glad you liked it.
Bowsher on the candidates
Thank you for publishing my letter. I was honored. A very proud moment for me. All the letters I write, all the ones I mean to write, sometimes leave me frustrated, but when I get such a wonderful affirmation as you gave me I am nearly speechless…. But not completely. Check my math on this please, I have already triple checked it myself.
I like to take poetic license with the spelling of Romney’s name because it is so funny that with just a little jumbling of the letters all of a sudden he is Rmoney, a much more fitting name.
Dear Editor, know that I have watched and listened closely to Rmoney’s answers on taxes. What I have had trouble figuring out is his claim that under his plan we will continue to get 60% of our tax revenue from the wealthy. He stated that emphatically during the debates. It has finally dawned on me. He is planning such draconian cuts to all government spending (except defense) that the federal budget and our current programs will be a distant memory. He didn’t say we would have the same level of government spending; he said the wealthy’s share of tax revenue would remain at 60 percent.
Don’t forget that his plan not only calls for a 20% reduction in all income tax rates, it also calls for elimination of taxes on interest, dividends, capital gains and elimination of the estate tax. As I understand it, the wealthy like Mr. Rmoney derive the majority of their income from those first three categories, and the fourth item (eliminating estate taxes) would assure their thirtieth generation would be even more obscenely wealthy than the current generation.
Mr. Rmoney in fact derives over 98 percent of his $20,000,000.00 in income from interest, dividends, and capital gains. So what he is supporting is that instead of paying 14 percent to 15 percent taxes on his income, he will be paying less than 1 percent taxes on his income. (This is based on one of his two years of released income tax returns where he received $360,000 in income from speaking fees.)
I triple checked my calculation. He makes twenty million dollars per year ($20,000,000.00/year). His income is from interest, dividends and capital gains (in the form of carried interest), which would not be subject to taxes under his tax plan. The $360,000 would be subject to a 39 percent tax, except he wants to implement an across the board cut of 20 percent. So that effectively becomes a 32 percent rate.
32 percent of $360,000 is approximately $120,000 in income taxes. This means that the tax on $20,000,000.00 would be $120,000, for a tax rate of .6 percent!
It’s nothing short of remarkable the audacity of the plan. Obama may have the “Audacity of Hope,” but Rmoney has the “Audacity of Greed.”
God help us if he wins the Presidency.
Charles A. Bowsher
Southbend Drive, Lexington
Dear Mr. President:
I don’t know if this will ever reach you in time. I have very limited resources so I can’t buy my way to national attention, even though I believe that what I have to ask/say is of utmost importance to our Nation and to you.
Thursday, October 18, 2012 you were right when you said on the The Daily Show that, “There is no excuse not to vote.”
I also think it is time that all of you in Washington begin to look at things from a completely different angle. Instead of you in Washington telling us what you are going to be doing. We (the People) need to be telling you what you are to do for us.
It’s time the American People be given an actual opportunity to not only vote in elections, but to begin voting on some of the major issues going forward. We have the technology and capability to poll vast numbers of Americans nearly instantaneously, yet it is unused. Why aren’t we being presented weekly topics and information to meet about and to discuss? The American people have a burning thirst to be involved in direct Democracy. Yes, it will take a tremendous amount of effort to pull this off, but our Democracy is worth it. We are a competent lot, just you try us.
In the meantime, here is what I ask you to pledge to. There are ten items. You get ten points for each one. What is your score? What are you willing to commit to?
The Pledge I want you to make to us, or “Ten Things I want my President to be willing to fight for”
1- ___ Preserve and protect current Medicare Program for all.
2- ___ Preserve and protect current Social Security for all.
3- ___ Return Income taxes for those making more than $250,000/year to levels they were during the Clinton Presidency (best job growth in decades).
4- ___ Reinstate the Estate tax rates of the Clinton Presidency, while preserving protections for family farms less than 10,000 acres.
5- ___ Increase Educational Funding and Programs for all.
6- ___ If we know of cruelty in the world, it must be stopped.
7- ___ Set up a Commission with members drawn from the general population, not just big wigs and great thinkers, but school teachers, bus drivers, mechanics, ministers, mothers, fathers, engineers, etc. etc. etc.. Their mission is to work on a vision for the future America. The time to act is now. The future will not wait on us any longer.
8- ___ Global Peace
9- ___ Fight to End “Extreme Poverty” (poverty that kills) by 2020
10- ___ Better protection for the environment.
Charles A. Bowsher
Southbend Drive, Lexington