Fiscal Responsibility

Monday, January 7, 2013

We all knew that Congress wasn't going to do anything significant with regard to fiscal responsibility. At least for the last 50 years, our Congress has feathered their own nest, destroyed the Social Security System, and essentially, distorted the tax system, and in general, been fiscally malfeasant. 

In this day of high tech, we should have an efficient, fair, flat, simple, and broad based tax system, where everyone has some skin in the game. Instead, we have members of Congress that have shifted the burden of taxes to half the working people, and the other half pay none. And a lot of them that don't pay any federal taxes actually get money back (think of it as a modified Welfare System). When I was in the Navy, I paid taxes, and I made less than minimum wage. Social Security taxes just go into the general fund, and it makes me wonder why we have money designated for it.

My suggestion would be to take a small percentage of revenues and build up a new Social Security Retirement Fund, maybe like the Federal Employees Retirement System, and once it is adequately funded (maybe to 140 or 150 percent of expected liability), shift current retirees to it, then it would not need additional input. No Congress would get access to it, and guess what, a reduction of about 12.5 or 13 percent in peoples tax burden.

Question:  If you treated your own finances like Congress treats tax revenue, do you think you might be headed toward bankruptcy?

Also, the biggest counterfeiter in history, Ben Bernancke, is printing 60 billion a month to buy our own Treasury Bonds, called Quantitative Easing. 

Brian Foley



Luther Day Is Monday

Let’s Celebrate Luther Day on  Monday, March 9 !   On October 20, 2014, we lost Luther Masingill, at the age of 92. We’ve missed him on WDEF radio and TV, looking for all those lost dogs.  He was on the same time, same station since 1940; more than 74 years, interrupted only by his two-year stint in World War II.  When you see a list of records that will ... (click for more)

In Memory Of Jon Hopper

This is in memory and to honor my fallen patriot in arms Officer and United States Air Force Security Forces and Security Policeman Mr. Jon Hopper.   What I will tell you is no "Brian Williams war story." I served with Jon in the Air Force. And we did some very dangerous duties. Jon was a nice guy and very humble and laid back and I am sure that many of you do not know ... (click for more)

Judge Orders Cortez Sims Tried As Adult After Emotional Testimony At Juvenile Court In Shooting Of 4

Juvenile Court Judge Rob Philyaw on Thursday morning ordered that 17-year-old Cortez Sims be tried as an adult in a College Hill Courts shooting that left one woman dead, a toddler paralyzed, and two others wounded. The order was given after emotional testimony from two of the victims in the Jan. 7 early morning mass shooting at 773 W. Main St. Bianca Horton and Marcell "Baby ... (click for more)

Weather Service Warns Of Icy Roads Thursday Night, Friday Morning

The National Weather Service has issued a special weather statement for Hamilton County warning of icy roadways on Thursday night and Friday morning. ...ICY CONDITIONS THIS EVENING THROUGH FRIDAY MORNING... WIDESPREAD RECENT RAINFALL WILL BEGIN FREEZING THIS EVENING ACROSS THE REGION. PATCHES OF SNOW...ICE AND LIQUID MOISTURE FROM EARLIER MELTING TO QUICKLY TURN TO BLACK ICE. ... (click for more)

UTC Women Open Southern Conference Tournament With Big Win

  Fueled by a 25-5 run to open the second half, top-seeded Chattanooga cruised by eighth-seeded UNCG, 78-44, in the opening game of the first round of the 2015 Southern Conference Women’s Basketball Championship, presented by General Shale. The win moves #17/18 Chattanooga to 27-3 on the season, and puts them into Friday’s semifinal, where the Mocs will face the winner ... (click for more)

TSSAA State Tournament Games Postponed Due To Weather

All TSSAA state basketball tournament games scheduled for today have been postponed due to extremely hazardous road conditions.  Today’s schedule will resume tomorrow at 11:00 a.m. in order to allow extra time to for road conditions to improve in the morning.   Friday’s scheduled semifinal games will be played on Saturday beginning at 1:30 p.m. due ... (click for more)