The battle lines are drawn in Congress and the debate rages on whether the Bush-tax cut on the wealthiest Americans should be extended. There is much rhetoric on both sides of the aisle. The Republicans are arguing for continuity and stability which they say will bring economic certainty and progress. Conversely, the Democrats are saying that the rich should pay more taxes, because it is the right thing to do.
I thought it would be interesting to let you in on some facts and then you can decide how this debate should end. In the latest numbers from the Congressional Budget Office (CBO), the amount of taxes paid by Americans is as follows:
1. The top 1% of income earners pay 37% of all federal taxes;
2. The top 5% of income earners pay 60% of all federal taxes;
3. The top 10% of income earners pay 70% of all federal taxes; and,
4. 90% of Americans pay 30% of all federal taxes.
One other way that the numbers break down is that the top 50% of Americans pay 97% of all taxes, while the bottom 50% pay 3%. 50% of Americans, about 150 million people, contribute 3% to government coffers. Check your last tax return statement (Form 1040) and look how much taxes you paid. The fact is that many of us get so many deductions and credits - child credit, earned income credit, dependent care deduction, mortgage interest deduction, education deduction, real estate tax deduction, charitable giving deduction, etc., that our final rate is really small.
Here is another figure that should make some people mad. Between 2001 and 2007, the number of rich people increased and so did the size of their wealth. It is said that due to breaks like lower capital gains tax and reduced tax on dividends, wealthy Americans had more money and therefore invested more. Consequently, their wealth increased. However, the CBO's report also added that as a result of the wealthy's increased fortunes, their tax contribution also increased. Interesting!
As I listen to the debate, what I found quite interesting is that people are not giving all the facts. Each side seeks to paint the other as the bad guys. Well, I guess that is politics. Get the facts for yourself. Visit CBO.gov and get the numbers.
Here are some facts about "rich" people. Most of them get their wealth through hard work and, many of them invest their money so that businesses can expand and work. This means that poorer guys get hired.
One final note: no one wants to pay more taxes. Many of those who say that the rich should pay more taxes, will one day be "rich." I wonder what their mantra will be then. Probably, "Let the richer pay more taxes!"
- Thanks for spending time with us! Peter @ www.WirelesSolutions.net.
Tuesday, December 14, 2010
Tuesday, December 7, 2010
Wise Men & Women Still Seek Jesus
One beautiful element of the Christmas Story is the picture of wise men bowing before Jesus as a child and offering Him gifts.
The Bible declares that the men whom we pictured above were wise. In their study of the heavens, they discovered a star which signaled the birth of a king - a special King. The King, though young and unknown to the world, was so noteworthy that the men left all to find him. We do not know what obligations the men had - family, business, or civic. What we do know is that when the message of life-changing Truth - the Savior's birth - was published across the airwaves, those men left all to search for Jesus.
Can you imagine the amount of ridicule these men faced from colleagues, friends and possibly family? "Are you crazy?" "You must have bumped your head!" "Say what, you're going to give up all this to find the King? Do you even know where you're going? Oh, you're going to follow the star - keep your gaze fixed on divine guidance? Really?"
"Yes, we're off to find the King."
The story continued that the men chose precious and expensive gifts to present to the new King - gold, frankincense and myrrh. Interestingly, if one is going to appear before a king, one normally expects to receive from the king. However, these men decided that they must honor the king with their possessions and so they chose from among the most precious of what they had. And being divinely guided, they chose gifts that were of paramount importance - those gifts were relevant and prophetic. Wow!
When God got wind of the men's intentions and determination to find the Truth, He miraculously allowed the star which had signaled the phenomenal birth of the Messiah to guide them to their destination.
Before finding Jesus, however, they found the then king in Jerusalem, Herod. This person of power and position had the right appearance - the seemingly right attitude of worship for the new King. But, as we know, his plan was to destroy the plan of God - he devised a plot to kill the newborn King. But that was not to be, because the new King's purpose was not yet fulfilled.
From Herod's palace, the men were guided to where Jesus was with His parents. Upon finding the King, the men of good repute, noteworthiness - wise men indeed - presented their gifts and worshipped the King.
Picture it - these men of affluence, eminence, from possibly a well-furnished home with precious ornaments, entered probably a one-room, thatched roof hut and knelt before a child King - who had not been born to royalty and who had not been recognized by man as anyone special.
What could have made these wise men behave in such a strange way? As the saying goes: "When you know that you know that you know..." These men knew. They caught a glimpse of The Divine and their lives were altered.
They were willing to give up just about everything to find the King and to rest in His presence.
After they had given their best - a sacrifice, well-pleasing - the men who were attuned to God all along, heard Him one more time when He told them not to return to King Herod. These were truly wise men - they sought to hear from God!
The wisemen heard, they sought Jesus, they remained focused, they gave their best, and they returned home fulfilled.
Wise men and women are still seeking Jesus.
- Thanks for spending time with us! Peter @ www.LetsServeYou.com
The Bible declares that the men whom we pictured above were wise. In their study of the heavens, they discovered a star which signaled the birth of a king - a special King. The King, though young and unknown to the world, was so noteworthy that the men left all to find him. We do not know what obligations the men had - family, business, or civic. What we do know is that when the message of life-changing Truth - the Savior's birth - was published across the airwaves, those men left all to search for Jesus.
Can you imagine the amount of ridicule these men faced from colleagues, friends and possibly family? "Are you crazy?" "You must have bumped your head!" "Say what, you're going to give up all this to find the King? Do you even know where you're going? Oh, you're going to follow the star - keep your gaze fixed on divine guidance? Really?"
"Yes, we're off to find the King."
The story continued that the men chose precious and expensive gifts to present to the new King - gold, frankincense and myrrh. Interestingly, if one is going to appear before a king, one normally expects to receive from the king. However, these men decided that they must honor the king with their possessions and so they chose from among the most precious of what they had. And being divinely guided, they chose gifts that were of paramount importance - those gifts were relevant and prophetic. Wow!
When God got wind of the men's intentions and determination to find the Truth, He miraculously allowed the star which had signaled the phenomenal birth of the Messiah to guide them to their destination.
Before finding Jesus, however, they found the then king in Jerusalem, Herod. This person of power and position had the right appearance - the seemingly right attitude of worship for the new King. But, as we know, his plan was to destroy the plan of God - he devised a plot to kill the newborn King. But that was not to be, because the new King's purpose was not yet fulfilled.
From Herod's palace, the men were guided to where Jesus was with His parents. Upon finding the King, the men of good repute, noteworthiness - wise men indeed - presented their gifts and worshipped the King.
Picture it - these men of affluence, eminence, from possibly a well-furnished home with precious ornaments, entered probably a one-room, thatched roof hut and knelt before a child King - who had not been born to royalty and who had not been recognized by man as anyone special.
What could have made these wise men behave in such a strange way? As the saying goes: "When you know that you know that you know..." These men knew. They caught a glimpse of The Divine and their lives were altered.
They were willing to give up just about everything to find the King and to rest in His presence.
After they had given their best - a sacrifice, well-pleasing - the men who were attuned to God all along, heard Him one more time when He told them not to return to King Herod. These were truly wise men - they sought to hear from God!
The wisemen heard, they sought Jesus, they remained focused, they gave their best, and they returned home fulfilled.
Wise men and women are still seeking Jesus.
- Thanks for spending time with us! Peter @ www.LetsServeYou.com
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