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I had an interesting conversation with an acquaintance a couple of weeks ago. This individual is a conservative East Texan. Unfortunately, this individual, like many other individuals including conservatives , has fallen into the trap of believing everything he sees on the news instead of looking into the facts. It is vitally important for Americans, especially conservatives, to always research the facts about an issue. It is so very easy to be going along as a conservative and then the next thing you know you are spouting liberal ideas because you have been misled by what has been pounded into your brain by the liberal media.
My case in point is the conversation I had with this conservative East Texas acquaintance. At some point during our conversation we got into a discussion about taxes, profits and corporations.
The conversation up to this point had been very non-controversial. We were agreeing about most everything. Then out of nowhere this guy said that corporations and rich people are not paying any taxes and that they should pay their fair share.
He said that corporations and rich people have so many loopholes that they end up paying a less percentage of their income than everyone else. I told him that corporations and rich people would LOVE his idea of everyone paying the same percentage because currently the rich people pay a much higher percentage of their income than everyone else. He did not believe that rich people pay a higher percentage of their income than he does.
He even used the example of Warren Buffett getting on the news saying that millionaires pay a lower percentage than their secretaries. I told him that there are some individuals in all income levels who get around the tax rates, but on average the rich pay a higher percentage than everyone else.
Lower-income households will pay less. Furthermore, a small percentage of rich people actually pay most of the taxes in America. The 10 percent of households with the highest incomes pay more than half of all federal taxes. They pay more than 70 percent of federal income taxes , according to the Congressional Budget Office. This individual still did not believe me. He kept harping about corporations bringing in billions of dollars in profit and not paying taxes.
He specifically used the example of Exxon Mobil this is what he sees on the news of course. I told him that just because a company makes billions in profit does not mean they are greedy or not paying their fair share. First of all, everyone who works for Exxon Mobil pays individual taxes on the income they make from the company. Second, the amount of profit a company makes is deceptive. Oil Companies might make billions of dollars in profit but they have billions of dollars in debt that they have to pay back.
Also, the oil business is not cheap. Some oil platforms are as big as the Empire State Building and cost a bunch of money. The profit people see oil companies making will likely go to pay the company debt or to store up in the bank to pay for massive future expenses like drilling new wells. Drilling new wells creates jobs by the way. According to Euro Pacific Capital , facts have a pesky habit of mucking up an otherwise well-tailored story.
While it's true that US corporations have a record amount of cash on their books, as is widely reported, they are also carrying a record amount of debt, which is hardly reported at all. Given the exposure that the debt creates, carrying large cash reserves should be viewed as an act of fiscal responsibility rather than unnecessary frugality. Sadly, like the rest of our struggling republic, many American companies are on the ropes, perhaps one good punch away from a knockout. With a high percentage of consumers and all levels of government still drowning in debt, it's very fortunate that at least one sector has cash in reserve.
I did find it odd that this individual only mentioned oil company profits. I guess the media does not talk about profits from other companies so this individual I was talking to do not know that other companies make billions of dollars in profit too, like Warren Buffett. Buffett, who was the one who falsely stated that rich people pay a lower tax rate than middle class people, has yet to send in any extra tax money to the IRS even though he complains that he does not pay enough.
Once the facts were presented about how much the rich actually pay in taxes, and how much debt that companies have compared to the profit they make, this individual was still not satisfied.
It was never about making the rich pay their fair percentage I suppose. This individual was not looking for free handouts. He has a job and works hard. He is not some Occupy Wall Street nut job protester. Over time though, he has been told that rich people do not pay enough. That is capitalism though. No one is stuck making the salary they currently make. Everyone has the opportunity to step out and work hard and start a company or get more education, which then gives someone the chance to make more money for themselves.
Not only is that capitalism, it is also a very important part of keeping the American economy strong. For the chance to make more money, people will work harder and invest more and try to expand their businesses and come up with new innovations. If the incentive of making more money goes away then so does the drive to work hard, to come up with new ideas, and to take risks to expand businesses.
I finally asked this individual if he knew that what he was saying was leaning towards socialism. He got very upset and said that he was not a socialist. He hunts and does not like Obama.
The conversation pretty much ended there. It is like the old saying, if you put a frog in boiling water then the frog will jump out, but if you put a frog in regular temperature water and slowly turn up the heat then the frog will stay in and boil to death.
This individual that I had this conversation with would never go along with socialism if you told him it was socialism. Over time though, even conservatives are starting to believe the lies that they are constantly being bombarded with from the liberals and the media.
They would never go along with full-fledged socialism, but they will agree to compromise on one small issue and then the next year they will compromise on another small issue, and then they will get mad at people making more money than them because they is what the media tells them is going on, and then, over time, all the small compromises will add up and we will have socialism without anyone even knowing, or believing, that we have become socialist.
America is great because of the Christian principles it was founded on. As America slowly abandons those principles, America will see more problems. The Bible Matthew Did you not agree with me for a denarius? Take what is yours and go your way. The Bible also says we should take care of those in need. I agree with that completely. Conservatives are not greedy and are not against helping people in need.
In fact, conservatives tend to give more of their money to charitable organizations than liberals. We just believe that our churches can do more to help the needy with the money we give it than the government can.
People need food and shelter. People do not need big screen televisions, steaks and fancy cars just because your neighbor has those things. We should be content with what we have instead of coveting what others have. The great thing about America though is that if you want those fancy things, it IS possible for you to attain them, because we are a capitalistic society and not a socialistic society.
Back to the subject of conservatives giving more to charity than liberals, according to Arthur C. Brooks in an article on Real Clear Politics:. Residents of the bluest states, which gave Bush less than 40 percent, donated just 1.
Posted by David Bellow Posted at 3: Newer Post Older Post Home./p>
Put eat me in the subject line with a for proof. M4w Hey ladies, lets meet, go have drinks and see where it goes. (I like to get to know people well) I have a best sense of humor, outgoing, spontaneous, and persistent.
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