IT’S ALL ABOUT MORE MONEY TO THE FEDERAL TREASURY
I listened to the President’s State of the Union address last week and concluded it is all about putting more money in the hands of the federal government. But I must admit that I fell asleep before he was done.
First Obama wants to expand the use of natural gas for fuel in our vehicles, replacing the use of oil.
Then he wants the minimum wage increased to ten-ten, that’s $10.10 from the current $7.25.
Then he wants the people to invest in a government program for their retirement.
Let’s take a look at those three items that the president is pushing for.
First, saving for your retirement is a great thing and everyone should save for their declining years. But give the money to the federal government? We who are on Social Security and are faced with a system that we are told is going broke and needs to be repaired. What happened to those Social Security funds is that the government spent them and they will do the same with any new retirement plan that brings money into the federal coffers and issues an IOU to that retirement fund.
I do not have any quarrel with increasing the minimum wage, but I have not heard from business leaders on how that might affect people that are now just above the minimum wage and would they get a boost and what would that do to the cost of doing business. To me, it looks like that will raise the cost of everything that we buy. I looked over the withholding schedule and noticed that the federal treasury would get an additional $936 per year in withholding from a single person making the new minimum wage.
And, as for the natural gas supply. A president who has done almost all he can to stop the people in the United States from exploring and capturing new gas and oil supplies is now taking credit for an increasing supply of natural gas.
He wants to end the use of coal for electrical power generation and replace it with green power. Coal and natural gas make up for more than two-thirds of our power supply. Having natural gas to power our vehicles would put a strain on the supply and then the price would sky rocket. Just look at what is happening to the price of LP (liquefied petroleum). The supply is short this winter and I have heard of people paying over $5.00 a gallon for it. That is what will happen to natural gas if we have to burn it in our vehicles.
I am a supporter of ethanol from renewable plant growth. I do know from first hand experience that you get less gas mileage from ethanol than you do from gasoline. I am going to assume that the same would be true for natural gas and as the federal tax on motor fuels is based on gallons used, less mileage means more gallons of fuel used and more tax income for the federal government.
The bigger the government, the more it costs us.
Thanks for reading. — Carlton