College Daze

I found this interesting article in the September 1, 2008 edition of Forbes magazine regarding how college is (or isn't) preparing graduates for the real world.  Found at  http://www.forbes.com/forbes/2008/0901/032.html.  

Premise of the article is that instead of helping high school grads grow up, colleges prolong childhood. Whatdo you think?

Obama's Tax Plan Punishes Success

by Paul W. Hamilton

Going to law school was my path to financial security--I didn't become an attorney to become wealthy but I knew doing so would provide me and my family a comfortable life. In total, I've spent over twenty-one years in school learning. I served in the Georgia National Guard and Active Duty Army to help pay for college.  When I made the decision to go to law school, government and private loans were the only financing options available and I availed myself of them and continue to pay them today. 

Don't get me wrong, I've been blessed.  Three and half-years after opening a law firm in my hometown, we are still going strong and growing every day, even in during tough economic times.  Senator Obama's plan to raise taxes on those making over $250,000 is nonsensical.  I'm not yet in that group--but I will be someday.  Why is it that those at the top of the income stream should have to pay more than those at the middle or lower income stream?  The message this sends is to work hard, educate yourself in the classroom and in the real world, have the intestinal fortitude to jump off the proverbial cliff of starting a small business that may or may not survive, be innovative and industrious, create jobs in your community....and after doing all that, PAY MORE.  In short, his plan to increase taxes punishes success.  

And Senator Obama's response is, "You can afford to pay more."  Remarkably, Obama's running mate, Senator Joe Biden recently said it was, "patriotic" to pay more taxes.  

What we need in our tax code is fairness.  A system that is straight forward and easy to manage.  The administrative burden of complying with our current tax code costs more than $200 billion for individuals, small businesses and corporations each year.  We should implement a flat, across the board tax for all wage earners.  Better yet, implement the fair tax as proposed by Georgia Congressman John Linder which proposes replacing the federal income tax with a national retail sales tax on goods and provides for a rebate for the cost of necessities such as groceries and medical expenses up to the poverty level.  Such a system would capture the lost taxes on illegal activity, such as the drug trade, and under the table wages to illegal immigrants throughout this country.  

Obama claims to be the candidate of change but his policy is the same old thing--this country deserves a tax policy better than what this candidate offers.