Good Job California!

Way to go. California Citizens, already faced with skyrocketing foreclosure and unemployment rates and mounting losses in 401k's and home values are rewarded by...increased taxes. From the state with the 6th highest tax load on its citizens already.

The Rat that broke the citizens back was even a "Republican". Name: Sen. Abel Maldonado.

The newly passed package includes about $13 billion in new taxes in the forms of state sales tax, personal income tax and higher fees to license your vehicles. Those will hit everyone....at least they didn't just "tax the rich".

But the Rat Maldonado claims victory through his compromise. From an AP article:

He also was able to force Democrats and Gov. Arnold Schwarzenegger to remove a 12-cent-a-gallon increase in the gas tax and authorize a ballot measure asking voters to freeze lawmakers' salaries when the state runs a deficit.

"If we're going to take from the people of California, then we got to give something back," he said Thursday morning after the Senate approved the package of bills.

Well that is just peachy. That is like declaring yourself a victor over a mugger. The mugger says, "give me your wallet, your watch, your rings and your pocket change". But you declare, "let me keep a quarter to call a cab", to which the mugger says, "fair enough". Not really a victory is it?

And, if things are ever financially healthy again in California, we can assume the state will rescind these new taxes? Uh-huh.

Capitalism has Warts

Maybe it is time, or far past time, for a reality check and a morality check for capitalism. Like Warren Buffet has said, something to this effect, "you can tell who is swimming naked when the tide goes out"...you might also say as "you can see all of capitalism's warts when you throw back the covers". And right now, most of capitalism is laying partially paralyzed, naked, exposed and showing many, many ugly warts.

The reality check should, of course, include an examination of the salary and income differentials that exist. While I am no opponent of entrepreneurs and chiefs of industry making a potfull of cash, some of the differentials that exist are getting a little nutty. CEO's making 500 times the average workers pay? Is that really in the best interest of the company? From a stockholder perspective or a workers perspective I would have to say no. Actors, athletes and other performers making yearly salaries that most people won't earn in a lifetime - reality?

The reality check should also include a Wall Street mentality reevaluation. Maybe, just maybe, there should exist more socially responsible corporations that are not just worried about short term goals and this years bonuses. Maybe it is time to temper expectation of short term gains and concentrate on the long term health of a company...including products, facilities and employees. CEO's bowing to Wall Street demands have cost many jobs in this country.

Other reality checks should include: What should we really expect from our government? Shouldn't we be more forceful with demands of our government...like demanding less spending.

The morality check should examine greed. Greed, while pervasive on, though certainly not limited to Wall Street, isn't a virtue despite what might be taught at business schools and seminars. Our conspicuous consumption has led people to take risks and take on debt in the name of "having" that in no small part has gotten us into this credit mess. A nation of savers became a nation of net debtors.

And speaking of greed, another fraudulent scheme emerged today. I am not sure what the tally board total is up to right now, but it is bound to rise higher while the tide is still out.

All the above included, capitalism does have its share of warts. But, there is no system that produces as a whole, better results for more people in the long run. It justs needs some periodic tinkering with, and constant vigilance from its citizenry and elected officials. It ain't broke, but it does need a few warts removed to look a little better again.

For Screening Appointees Maybe Obama Should...

For screening potential Presidential appointee's maybe Obama should ask, "OK, so to make this easier, who HAS paid your Federal Income Taxes.

Who said, "Make no mistake, tax cheaters cheat us all, and the IRS should enforce our laws to the letter."...That would be Democrat Senator Tom Daschle in 1998.

Tom Daschle...out
Nancy Killefer...out
Tim Geithner...in, but shouldn't be.

Link one
Link two

Other good reads about Daschle, and why he should never be allowed to set foot in Washington D.C. again...

Link three
Link four

At least now we know that when the Democrats say, "let's raise taxes, especially on the rich", that it is no sweat off their brows, they aren't going to pay them anyway.

Notes from Super Bowl

-Enough with the Roman numeral stuff...use real people numbers...what the eff is an ecks ell eye eye eye anyway?
-Faith Hill, yes indeed, awesome.
-Who was the weathered piece of boot leather dressed in John Elway's clothes?
-Springsteen...still rocks, but not a very edgy halftime performance.
-Kurt Warner...one "do-over" from an MVP and a ring.
-Michaels and Madden are the best even though this wasn't their best.
-Commercials...liked the new take on the old Coke, Mean Joe Green ad. Careerbuilder.com...couldn't turn away from that weirdness.
-the actual game...a pretty darn good one though I was pulling for the Cards.
-the 3D ads...lame even with my freebie glasses, not much effect from where I viewed them.
-General Petraeus...a little napoleonic figure playing with the big guns?
-Who won? The Cowboys weren't there so it doesn't really matter.