The Patriot’s Editorial:
All of us have heard the saying: ‘One man’s junk is another man’s treasure’ and that is certainly true when it comes to ‘Crumbs’! Nothing could have put this into perspective more than the recent political statement regarding company bonuses immediately following the tax cut. So, I thought it might be enlightening to examine this ‘junk versus treasure’ comment to determine what was really said and why.
When evaluating this, it is important to consider the various economic cross-sections of America. There’s the middle-class that works hard and watches their pennies carefully, those in the upper middle-class that don’t have to worry about watching their pennies quite so much, the retirees on fixed incomes who have to watch every penny and finally, the wealthy and very well off who have no problem spending wildly without consequence.
Most politicians in Washington and across the country firmly believe ‘we the people’ work to support them and our hard earned money isn’t ours at all, but theirs. Basically, it is their right to allow us to keep some of our money at their pleasure, because they know how to spend it best. Well folks, I’m here to tell you, that is just wrong and couldn’t be further from the truth. Spending money is their purpose in political life and it takes our hard earned cash to do it. Party affiliation and ideology further reinforces their motivation and often appears to be their only motivation.
Two weeks ago, Congresswoman Nancy Pelosi was livid when she spoke about the recent tax cut, stating: ‘$1,000 bonuses are ‘crumbs’. To millions of Americans across the land, a $1,000 bonus is a big deal!
The following is an excerpt from an article published by Atlantic magazine (Sep 2014): “For the second year in a row, Representative Darrell Issa tops the lot with a net worth of $357.25 million, largely the result of his spectacular success at manufacturing car alarms. Issa’s wealth is triple that of second-placed Michael McCaul ($117.54 million). House Minority Leader Nancy Pelosi placed third ($74.11 million), while Senate Minority Leader Mitch McConnell, with net assets totaling $11.97 million, slots in at number 32.” Source: https://www.theatlantic.com/politics/archive/2014/09/how-did-members-of-congress-get-so-wealthy/379848/.
So yes, to them, a $500, $1,000, $2,000 or $3,000 bonus is chump change and crumbs.
Here’s what one Connecticut family said about the tax cut and their increased take home pay: Please watch this video: http://video.foxnews.com/v/5725867934001/
Some of you may not be aware of this, so I included it: “In 2016, Congressional pay was $174,000 per year, which, at an 80% rate, equates to a lifelong pension benefit of $139,200 per year. All benefits are taxpayer-funded. Additionally, members of Congress enjoy the same Thrift Savings Plan (TSP) as all other federal employees, which is similar to a 401(k).” They also get free healthcare for life for both themselves and their families. This applies whether they stay in Congress two years or forty. https://www.investopedia.com/articles/markets/080416/how-congress-retirement-pay-compares-overall-average.asp
On the House floor (11-16-17), Pelosi said this: “Republicans have brought forth a bill that is pillaging the middle-class to pad the pockets of the wealthiest and hand tax breaks to corporations shipping jobs out of America and drastically increasing the national debt…” (Rep. Nancy Pelsoi, Washington DC, 11/16/17). Source: https://www.gop.com/nancy-pelosis-armageddon-is-here-and-it-brought-bonuses-rsr/.
All that of course, was untrue. Corporations are bringing offshore money back to this country at breakneck speed (and paying taxes on it for the first time) and investing it here rather than abroad. Bonuses are reaching tens of thousands of workers, employment is surging and wages are increasing everywhere in this country and more companies are joining in on a daily basis. Yet, she believes the tax breaks given to corporations and every hardworking American was in her words ‘theft’ (money stolen from the government). Additionally, she forgets our larger companies and corporations have been taxed at the highest rate in the world. It’s no wonder they were not competitive on the world stage and our Gross National Product ratio suffered for it!
The statement she made calling bonuses ‘crumbs’ appears to have been nothing more than an infantile temper tantrum thrown by a very disgruntled wealthy political elitist. She has obviously forgotten she was sent to Washington to defend, protect and support a government: ‘of the people, for the people and by the people’. Instead, she like many other members of Congress believes the government rules supreme over the people. Constitutionally, she couldn’t be more wrong!
(The views expressed in this editorial are my own)