Salem Community Patriot April 29, 2011 - 5
More Letters to our Editor continued from page 3
Moreover, this measure will only last for two months, which will eliminate any negative fiscal effect for the state beyond what was already planned by elimination of the car tax, but comes at an important time as we enter the summer tourist season. Our hope is that this will ease the burden on our citizens and help economic activity as well, especially if we can get people from out of state to come over the border to buy gas over the next two months. Whether it is this gas tax cut or the elimination of the car registration surcharge, the House will continue to try to find ways to reduce the cost of driving for New Hampshire citizens. We hope that the Senate and Governor will join us in offering this relief to citizens.
Representative D.J. Bettencourt - Salem Police and Fire Appreciation This is in response to the Letter to the Editor on April 8 by Michael Verrocchi.
I had to write this letter because my heart was really saddened to think that most of the feedback our police department gets is negative. I’ve lived in Salem for 27 years. I could give numerous instances of times I have been amazed that our police officers and firefighters have gone out of their way to help me and others. Shame on me for not praising them sooner, but I just assumed everyone else felt the same as I do. Sure, there have been one or two over the years that I would have liked to slap up side the head because they were young and seemed to be in the job for the power, but I don’t judge an entire force by a couple of obnoxious young men. Anytime I have sought the help of the police department or the firefighters, they have gone far beyond the polite response. I know from experience that if I needed them, they would be at my house in a few minutes. And if I told any of them that someone else was in need (and I have), they would be there to help in a second and go far beyond what is expected of them. Just recently, two officers showed up at my door late at night and asked if everything was okay. I kept insisting that everything was fine and asked why they had come. Evidently, my two-year grandson got a hold of his mom’s phone and hit the speed dial for 911. We weren’t aware that he had the phone. They weren’t upset, didn’t give me a lecture about keeping the cell phone away from the baby, and they didn’t lecture me about their time being wasted. They didn’t just leave. After I apologized for their wasted trip, they stayed there when I shut the storm door and mouthed to me in silence through the door, “are you sure you’re okay?” Boy, did I feel safe!
So, please, all you young men and women who go out to work
with your families wondering if you’ll come back safely, knowing that all the money in the world won’t bring you back if you get shot by some lunatic or get burned in a fire, please know that there are many who appreciate your willingness to put your life on the line for the rest of us.
And, for the record, I don’t have any relatives in the police or fire departments.
Edie Shea - Salem Obama Says There Is a Revenue Problem
The current economic “debate” brought on by the Democrats political posturing shows how much trouble our country is in. I am not saying the Republicans have no blame. Most legislators, except for the 85 newcomers to the House, have been there to “compromise” the budget to where it is today. Ironically, when Obama yells about Bush and the Republican majority, the 2006 deficit was $268 billion. The year the Democrats took Congressional control, it immediately doubled. Obama’s deficits are more than 500 percent greater—in both of his budget years. We
SHS Student of the Month
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would have had 13 years at the Bush rate before we had to make the hard decisions we must now make immediately. In point of fact, the 2009 budget had the deficits dropping further to $92 billion in 2011.
History shows that, after the first year of an income tax reduction, income tax collections rise. The government took in more money in each successive year of the Bush tax cuts, as the economy grew after the recession of 2000-2001. U.S. employment grew from 2001 through December 2006, and was ranked first in number and second in percentage terms among the developed economies. Pro-growth tax policy and deft monetary policy helped the U.S. economy to recover from the shocks of the stock market bubble in 2000 and the terrorist attacks on September 11, 2001, and to sustain a vigorous expansion through 2006. Bear in mind, in sectors like high technology, many companies laid off between 20-80 percent of employees during or after the quarter following 9/11. From the first quarter of 2001 to the fourth quarter of 2006, the U.S. economy expanded at an average annualized rate of 2.6 percent. The United States ranked first among its peer group in real GDP growth.
Interesting, then, that Obama’s current budget projections are based upon a 5 percent per-annum growth rate, one that dwarfs the “excellent” annual rate between 1950-1990 of 3.1 percent average. No cooking the books here, eh? The rich currently shoulder almost 50 percent of income taxes and Democrats want more of their money. This year, the Congressional budget is $3.7 trillion or about $10 billion per day. According to IRS statistics, roughly 2 percent of U.S. households have an income of $250,000 and above. Households earning $250,000 and above account for 25 percent, or $1.97 trillion of the $8 trillion of total annual household income. If Congress imposed a 100 percent tax, taking everything above $250,000 per year, it would yield $1.4 trillion or 141 days of government spending. Fortune 500 companies earn nearly $400 billion in profits. Congress could confiscate these greedy gains, which would keep the government running for another 40 days, but that—along with confiscating all income above $250,000—would only get us to the end of June.
According to Forbes, America has 400 billionaires with a combined net worth of $1.3 trillion. Congress could confiscate their net worth. The problem is that after fleecing the rich of their income and net worth, and the Fortune 500 corporations of their profits, it would only get us to mid-August. The fact of the matter is there are not enough rich people to come anywhere close to satisfying Congress’ bizarre spending. They’re going to have to go after the non-rich. Worse, what do we do with next year’s deficit now that the employer class has no money to pay us with? The march towards bankruptcy is a pox on the political class for the last 50 years. This is the New Deal revealed for what it truly is—the Raw Deal. Paul Ryan’s budget proposal is the first breath of fresh air in dealing with this. Let’s stop the slide towards third world bankruptcy.
Bill Weimar - Salem
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