Posted on 01/20/2006 7:19:31 AM PST by eraser2005
stupid
and quickly pelosi and reid say lets spend this on more entitlement programs
If the democrats had her way, the government would have gotten half of it whether she wanted them to or not.
It would have been funny to report how much she couldn't give to the government because the goverment took it in taxes.
I wonder what rate they'll use to tax it so they can get their grubby fingers on some more pork perks.
Indirect credit is an important concept, but it doesn't negate the fact that the national debt and budget deficit are horrendous.
Heck, People revile Teresa Kerry for the low effective tax rate she pays (and other things). Some of that was the result of the recent tax cuts, but the vast majority was because of her investment in tax free municipals and the like. She invests her money in public projects and accepts a lower rate of return than the market in exchange for federal tax exemption. The result is an effective higher rate of return. So the municipality or district offering the bonds does not have to pay going rates for long term bonds - they can pay below bank rates. The result is that those taxpayers funding the repayment of the bonds have to pay a lower interest rate, so their taxes can remain lower.
If you made the bonds taxable, the rates would have to increase in order to make them attractive, which would mean tax increases on the general public to pay the higher rate. So sure, it sucks to see her pay a low rate of taxes, but by her investing in municipal bonds, I don't have to pay as much to help the school district repay its loans. Its all very indirect, but its real....
And if we can find a republican in congress that can control spending and reduce the deficit and debt, rather than send it skyrocketing while increasing spending at rates democrats could only dream about, we'll know that the world must me coming to an end... ;)
Unless they're like me - I'd be happy to pay more in taxes IF, and only IF, it meant that the budget would be balanced and that congress was exhibiting some spending control. But until the day comes that either that is happening, or that paying extra now releases me from the taxes we will face in a few years to pay the interest on the debt being incurred, I'm not sending them a damned extra cent.
And since the GOP has no clue what spending control is, and democrats have no ideas of their own on how to solve the problem, that day will probably never come.
I can't seem to find the link on this thread now, but another article on this story says this:
"Taylor had no living siblings or children, and her husband died in 1977."
Who knows...she may have done it just to piss off her horrible relatives...nothing surprises me when it comes to wills.
Well, if that's the case, ignore my post above. Hey, it was her money, she can do what she wants with it.
I don't get all the criticism towards this lady. We criticize Democrats for opposing President Bush's tax cuts, while happily keeping them for themselves. This woman is putting her money where her mouth is. More Democrats (like Eraser2005) should do the same thing.
You think I'm a democrat? Good one... :)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.