Last week, I posted that Democrat Representative Schakowsky of Illinois introduced the Fairness in Taxation Act (H.R. 1124), a bill that would add a few new tax brackets and adjust capital gains and dividend taxation for those taxpayers in the new brackets. I got into a twitter conversation with The Finance Buff and we both agreed that while it’s a nice gesture, it’s largely a hollow one. I think the same can be said for the recent House vote to cut NPR funding.
I’ve heard many a pundit call the TSA and airport security measures a big show of “security theater.” It’s theater because all the machinations only appear to keep us safe. It’s not actually safer, but with all the activity and the monitoring, the public is made to feel that we are safer when we fly. The reality is that locking the cockpit door and empowering the passenger (to fight back), are more effective at securing planes… except you can’t make that much money off it!
I feel like all the politicking around the national debt and deficit is a joke. Cutting NPR is like drinking a diet coke with your cheeseburger and thinking that you’ll lose weight. It’s even more comedic when the Congressional Budget Office says that cutting it would amount to a net savings of $0. Whereas the added tax brackets would actually generate revenue, though a minuscule amount compared to the debt, this move is entirely for show.
Everyone wants to jump on the hot new thing and ride it to the top, this election cycle it’ll be how frugal you can be.
What’s your take on this?