Monday, January 30, 2012

There Is No Free Lunch

Drear Readers:

There is No Free Lunch:


To remind you, I am part owner of a taxi company. The final quarter of 2011 taxes were due on 01/31/12. In the packet I received from my accounting firm of Dewey-Cheetum & Howe, there was a new tax to be paid. Even as a small company it is in the hundreds of dollars. This is to repay the Federal Government, what New York State had to borrow to cover the extension of Unemployment Insurance.


That's right, every time the Feds. extends Unemployment Insurance, New York has to borrow the money. Were did you think that money came from? New York is broke. It had to be borrowed, with interest. Who do you think is on the hook for this borrowed money? It is private sector business. No body tells you this.


It is another unfunded mandate that business is expected to pay. It is another drain on disposable income businesses could use to buy inventory or hire people. It is another cost passed down to the consumer. It is another example of political compassion with other people's money.


Every time this program is extended, it makes it harder for those unemployed to find work. Study after study has show the longer a person is out of work, there skill set deteriorate. This make some business loath to hire those long term unemployed for that very reason. It is become so pandemic, that there is proposed legislation to ban that as a reason to not hire someone. This legislation will force business to hire the unqualified as a matter of civil rights. More destruction of private enterprise in the name of compassion.

It has turned Unemployment Insurance into welfare for the middle class. The real joke is as an owner, though I am responsible to pay this tax, should I become unemployed, I can not collect.


There is No Free Lunch Part 2:


The recent raid on the Social Security Trust Fund billed as a tax break will also have to be repaid. This year, under this administration, Social Security paid out more than it took in. This is another first for the Obama Administration and it economic policies.


How will it be repaid? By a number of ways. One, raise the eligibility limit to between 68 and 70. Two, raise the income limit on this deduction from the current 103 thousand dollars a year to no limit, so no matter how much you earn, you will always have this payroll deduction. Third create an income level where you can not receive this benefit, even though you paid into it. Simple economics demand one or all of these remedies. They are on the docket. These will also apply to Medicare, as Obama Care removed 500 billion dollars from the Medicare fund and transferred it to Medicaid. None of these will be brought up during this election cycle as both party's are guilty of raiding these trust funds.


There is no free lunch The paper must be paid. The bills are coming due now. As always small business, private sector business and the middle class get it in the neck. I see no compassion in this. This is my opinion, you may beg to differ.


Anthony J. Bazzo
The opinions expressed by freelance contributors to PennySaver Community do not necessarily reflect those of PennySaver Community or its parent Chase Media Group.

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ATOM TAXI INC. AIRPORT SERVICE:
Dear Readers:
This gives me a chance to plug my business ATOM TAXI INC. As you are planning your holiday or business or vacation travel? Instead of the headache of trying to find Airport parking, we do Airport Service to The Westchester County Airport(and ALL other airports) 24/7. Just call 1(914)879-6121 and my partner Tommy, will be glad to take you in our Airport Taxi. You will also be provided with a free copy of your local paper of record The North County News. If this is a business trip we also provide a professional receipt, just tell Tommy at the time of booking. The cost of a one-way trip to LaGuardia Airport the cost is $100.00 plus tolls. The cost to JFK and Newark Airports is one hundred-thirty-five dollars plus tolls. The tolls are $13.00 Westchester County Airport and Stewart cost $75.00. We do not take credit cards, sorry. **********************************************************************************
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It has come to my attention the difficulty in posting a comment on this blog. If you wish to comment, e-mail me at the link posted below, putting “Manifesto Reader” in the subject matter, and I will “cut and Paste” your comments myself. If you DO NOT wish your comments posted, but just wish to communicate with me, please make your wishes known in the e-mail. LINKS: atom_taxi@yahoo.com(as this a yahoo address make sure you put an underscore (-) between atom and taxi) For immediate reply: atomtaxi@aol.com AT NCN: abazzo@ncnlocal.com *********************************************************************************
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YORKTOWN WATCHDOG: www.yorktownopengov.org
PADAVANO FINE ARTS: Padovanofineart.com /
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Bazzo 01/30/12

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