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Something To Think About Archive

Author and marketing consultant Steve Rivkin once noted that “The more unpredictable the world becomes, the more we rely on predictions.”

Given the current budget deficits and continued profligate spending, why does Congress’s latest tax bill include exclusions for certain income, specifically taxes on tips and overtime? ALL and ANY earned income should be taxable at the same level as any other. By not simply lowering rates to encourage work and investment, these exclusions fail to be pro-growth. Instead, they are likely to distort behavior by favoring one action over another. Excluding taxes on Social Security might be considered as reasonable as the money that was paid in to the program was originally confiscated from the employee and their employer. At least they’ve tried to eliminate some scams like tax credits for electric vehicles.

As Andrew Jackson once noted, “More is lost by the long continuance of men in office than is generally to be gained by their experience.”

According to tech entrepreneur and columnist Andy Kessler, when it comes to tariffs, “Self-interested politicians never hit on the right price to clear markets or pick the right industries to win. Because of self-serving cronyism for dollars or votes, government industrial policy always glitches. Capital gets misallocated. Prosperity suffers.”

Given the extensive criticisms by the Grand Jury in its latest report, the current Board of Supervisors has its work cut out for it. Deferred building maintenance and unfunded liabilities from pensions and retiree healthcare amount to tens of millions of dollars with no clear plan or timeline to resolve. Also noted was that when the county hires someone under the financial umbrella of a grant, once that grant funding dries up, the employee is often, if not always, retained on the county payroll funded by taxpayers. When the grant is gone, the employee should be gone. Period. Otherwise, we run the risk that Staffing will continue to grow made up of people who were essentially hired for the “Project du jour” rather than providing essential services.