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As Long as We Remember...

January 27, 2012

I Am An American Taxpayer

Joe Charlebois

I own stake in 458 companies. It wasn’t by choice and I expect to lose a great deal of money in the coming decade as my proxy is having a difficult time unloading my shares in these poorly performing companies.


I am the American taxpayer.


Without my consent my money was spent to cover the losses of banks large and small to the tune of $250 billion. I bailed out both Chrysler and General Motors with an additional $80 billion. My investment in General Motors has dropped to a little over 46% of my initial investment price.


I am the American taxpayer.


I pay federal income tax. Only 55 others in one hundred pay federal income taxes, while the other 45 vote to increase the burden on me.


I am the American taxpayer.


Thank goodness I don’t own Bank of America Corp., Citigroup, Chrysler Group LLC or Chrysler Financial anymore. It isn’t right that I should own any of these companies under my country’s name.


What is right and what is my responsibility is that I should support a government that answers to me. It is my responsibility to support a government that provides for defense of my land; one that administers the laws of the land equally and fairly, and one that has the responsibility to adhere to its own Constitution.


According to the Associated Press, there is still over $130 billion that “private” industry owes the American taxpayer. This is TARP, or Troubled Asset Relief Program, monies that have yet to be repaid.


I understand why there is a strong resentment toward the bailouts; nobody wanted to see tax dollars spent on failed enterprises.


According to the same report, it will be years before a majority of the loans will either be repaid or lost forever.


As an American taxpayer, I have had enough already.


Why should 55% of Americans pay for the sins of the corrupt few? End the cronyism!


The 55 percenters pay 100% of the federal taxes, and we realize that nearly all of it is simply a transfer payment to someone else. So asking the so called richest 1% to pay even more is ludicrous. Why not confiscate 90% of their income?


In recent news, Republican candidate for the presidency and former Massachusetts governor, Mitt Romney, has shown his tax returns with a rate of taxation at 13.9%. To many that is outrageous.


But this is income from investments. Not from working a job. The capital gains tax rate is 15%. The money that Mr. Romney invested had already been taxed once at the regular income tax rate, so this in essence a double dip by our Treasury Department.


It is no different than when the Treasury collects the “Death Tax.” It is an unfair confiscation of monies that have been taxed previously.


For those protesting for even higher rates of taxation on the 55% and who don’t currently pay federal income taxes, it’s time for you to put down your signs and go to work and join us. Then maybe I’ll listen.


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