I'd like to think I'm a somewhat intelligent fellow. Yet I've been blindsided once again by a notice from the state tax people that my tax return was wrong. They say I calculated too large a tax liability. This is the third or fourth time this has happened to me. I always triple-check everything before I send it out, and always check everything again after they send their notice back. The only possible explanation is that the tax tables published in the instruction manuals are not the actual tax tables I should be using. I never have this trouble with the federal return. Or at least they've never told me.
Peace,
Tor
Thursday, May 5, 2005
Friday, April 29, 2005
Hitchin' A Ride, redux
I just got back from running the early show of The Hitchhiker's Guide to the Galaxy in Dreamland at the Colonial Theatre, and simply must recommend it to everyone. Unless you absolutely hated any of the earlier incarnations, you will enjoy yourself immensely. Tip: stay for the credits. There is an extra bit very near the end.
Peace,
Tor
Peace,
Tor
Many Strains of Environmentalism
Do read this article by Jonah Goldberg if you get the chance. It's a fairly good take on a nascent conservative environmental movement. For extra credit, do a Google search on Karl Hess and environmentalism.
Peace,
Tor
Peace,
Tor
The AARP's forked tongue
This NewsMax article is really all you need to know. The AARP is heavily advertising against the very notion of individual accounts within the Social Security system, yet it speaks with hypocrisy. The best part of the article:
On a tangential note, I know that many people who are near and dear to me do not understand the full extent of the Social Security taxes they are now paying. This is because there is purportedly an "employee payment" and an "employer payment." Don't be fooled. Here is an article from a non-partisan source that might help anybody understand that half of the Social Security tax is "hidden" from them. Anybody who is self-employed (and bless your hearts) finds this out on day one. For those who don't have time to visit the Newsday Link, this sums it all up:
Now that we've been made aware of the cost, what's the benefit? Yes, many people value the reliability of a check of a certain amount arriving every month. However, it is my contention that one of the effects of the Social Security system, especially in more recent times (with higher tax rates), has been an ever larger number of elderly people in poverty than would have existed without the program. And that's even if, instead of saving the money that would have gone into the black hole of Social Security, everyone had spent every last cent on utter frivolity. Simply stated, money kept in private hands will benefit the economy to a much greater extent than money handled by the government, due to the inefficiency of government. A strongly growing economy will do more to provide for the poor of all ages than any government program.
As for Bush's proposal last night, I'd like to see it pass, as opposed to staying with the status quo. Even better would have been to allow folks to totally opt out of the system, but I know that's a pipe dream. Yes, I would happily abandon all that I've already paid into the system and waive all future benefits for the right to leave now.
Realistically, I think it might have been better to allow the Social Security trustees to invest about a third of the incoming funds in broad-based market index funds to avoid all the transaction and administrative fees that the personal accounts will entail. But Bush's trip is better than the one we're currently on, so it's a no-brainer to try and hitch a ride.
About ten years ago, I made a simple financial calculation. What if the money that had been deducted from my checks up to that point were simply allowed to grow at 4% tax free, without putting any more money into the fund? And then, at retirement age, I'd just live off the interest. The result blew me away. My monthly check would be about double what the SSA told me I'd be getting from them. But to get that "guaranteed" benefit, I'd have to keep earning and contributing till retirement. The inequity of this scenario is appalling, especially if you do what I should have done and add in the "employer's matching contribution."
Peace,
Tor
....AARP's stock offerings include far riskier options than what proponents of personal retirement accounts propose, including a Latin American stock fund, a junk bond fund and a gold and precious metals fund.
"It seems that as long as AARP gets a cut, investing in the market is fine," states Investor's Business Daily. "But if you do it on your own, you're one step from crushing poverty."
AARP's investments in what it calls the "risky" securities market have brought in a healthy average return of 7.29 percent a year since 2000. Only 8 percent of the organization's portfolio was invested in safe government-backed securities in 2003.
On a tangential note, I know that many people who are near and dear to me do not understand the full extent of the Social Security taxes they are now paying. This is because there is purportedly an "employee payment" and an "employer payment." Don't be fooled. Here is an article from a non-partisan source that might help anybody understand that half of the Social Security tax is "hidden" from them. Anybody who is self-employed (and bless your hearts) finds this out on day one. For those who don't have time to visit the Newsday Link, this sums it all up:
Would you be surprised to learn that you pay more in Social Security tax than you pay in income tax? If you are like most people, you do!
Now that we've been made aware of the cost, what's the benefit? Yes, many people value the reliability of a check of a certain amount arriving every month. However, it is my contention that one of the effects of the Social Security system, especially in more recent times (with higher tax rates), has been an ever larger number of elderly people in poverty than would have existed without the program. And that's even if, instead of saving the money that would have gone into the black hole of Social Security, everyone had spent every last cent on utter frivolity. Simply stated, money kept in private hands will benefit the economy to a much greater extent than money handled by the government, due to the inefficiency of government. A strongly growing economy will do more to provide for the poor of all ages than any government program.
As for Bush's proposal last night, I'd like to see it pass, as opposed to staying with the status quo. Even better would have been to allow folks to totally opt out of the system, but I know that's a pipe dream. Yes, I would happily abandon all that I've already paid into the system and waive all future benefits for the right to leave now.
Realistically, I think it might have been better to allow the Social Security trustees to invest about a third of the incoming funds in broad-based market index funds to avoid all the transaction and administrative fees that the personal accounts will entail. But Bush's trip is better than the one we're currently on, so it's a no-brainer to try and hitch a ride.
About ten years ago, I made a simple financial calculation. What if the money that had been deducted from my checks up to that point were simply allowed to grow at 4% tax free, without putting any more money into the fund? And then, at retirement age, I'd just live off the interest. The result blew me away. My monthly check would be about double what the SSA told me I'd be getting from them. But to get that "guaranteed" benefit, I'd have to keep earning and contributing till retirement. The inequity of this scenario is appalling, especially if you do what I should have done and add in the "employer's matching contribution."
Peace,
Tor
Wednesday, April 27, 2005
What a Mess
More updates on the referendum process to overturn the most likely unconstitutional borrowing that Maine's legislature has wraught.
Peace,
Tor
wider shot
Here's a wider shot. I swear the cats know they're being photographed for world-wide distribution.
Peace,
Tor
love of my life
Here's the love of my life, and the love of her life. Oliver always looks irate, but that's just the "flat cat effect." He's really extremely affectionate....
Peace,
Tor
fire on the hill
Here's what I saw Sunday morning as I was talking on the phone to Mom. Got me wondering. The photo with the flames under the gnarly tree make the whole situation look worse than it was. The neighbors had a pile of rubbish and old beams from their renovated barn, and they had the fire dept. over for practice so they could burn it. Nothing caught fire unintentionally.
Peace,
Tor
Tuesday, April 26, 2005
Money and Politics--but I repeat myself
Here's an excellent link for anyone following the Tom DeLay situation, which now is threatening to blow the lid off the junket industry in Washington, D.C.
Peace,
Tor
Monday, April 25, 2005
Now They'll All Want Canadian Prescriptions
Check out this post by aine for an update on marijuana pills in Canada.
Peace,
Tor
Boot Newt
Just because I got heck from my most nearly perfect wife for the mere appearance of promoting Newt Gingrich, I offer up a link to this blog, which specializes in nasty (and sometimes funny) parodies of all things right-wing.
Peace,
Tor
The Future of Biomass
Daniel links to a report about the feasibility of biomass replacing up to 30% of petroleum use.
Peace,
Tor
Wiccan Shutout of Government Prayer
I found this story by perusing WoodMoor Village. I'm hoping those county commissioners get their heads handed to them on the next appeal. This goes so far beyond any reasonable interpretation of the establishment clause of the First Amendment that it's almost risible. Of course, we have to wonder, What are government bodies doing wasting their time with prayers, anyway?
Peace,
Tor
Sunday, April 24, 2005
Happy Wesak
Just a shout out to all of my fellow Buddhists, many of whom celebrate Wesak today. It is a celebration of the enlightenment and death, and, in some cultures, birth of the Buddha Gautama. Some folks celebrate it on slightly different dates.
Peace,
Tor
Saturday, April 23, 2005
A Decent Show
Todd Feinburg is a new weekend offering on WLOB. Check out the guests he had today. It was an interesting education on Saudi Arabia from people who know it intimately. I'll be looking forward to more listening. I especially like the fact that he allowed his guests to make their points. He's reminiscent of the old Jim Bohannon or David Brudnoy shows in that respect.
Peace,
Tor
The Titan "H" Up Close
Check this out! I don't know how I missed these pics from last week, but they are stunning!
Peace,
Tor
A People's Veto
A Maine GOP-led "citizens' initiative" now has a web presence at MaineVeto.com. As one who has consistently over the years voted against all bond referenda, I am particularly incensed by the Dems in the legislature who have deprived me of my symbolic and usually quixotic effort.
One of the things that government at all levels in this state needs to learn is that a drastic reduction in spending is necessary, and soon. The longer we delay this, the more people it will hurt. Not even the Republicans are in favor of doing what really needs to be done. At least they've finally decided to draw a line in the sand.
Peace,
Tor
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