Cashless Society – 4

Would a cashless society infringe upon your rights of privacy and individual freedom?
Some people think so, and to be honest, it very well could be! But it doesn’t have to be, and here’s why.
It’s all based on its implementation and management.
If a cashless system was designed and managed by an entity with a centralistic, upper-class, militaristic mentality, the technology to manage a cashless economy would be designed for “Big Brother” to keep tabs on things (us).
But in this new era it is far more likely that the design of this system would be egalitarian, decentralized, and “for the people.”

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free

Taxes, money, currency :

Caroline Kennedy withdrew her New York State Senate bid because of taxes and household help, aka nanny.
We all know what that means.
Timothy Geithner, “almost” secretary of Treasury in the new regime admitted to careless, unintentional errors in tax calculations he made years ago.
The tax monster strikes again.
And Mr. Geithner has come out making a strong statement about the suspected manipulation of Chinese currency.
He says
“China is purposely keeping its currency devalued against the dollar and leaving American exports at a competitive disadvantage against lower-priced Chinese goods. “
http://www.nytimes.com/2009/01/23/business/worldbusiness/23treasury.html?_r=1&th=&adxnnl=1&emc=th&adxnnlx=1232712160-JoduYWhYLQaImebJiYW82A

Taxes, money, currency:
always the same polluters of economy, society, and politics.

The plot thickens …. Stay tuned!

The Eye-in-the-Sky

I read in this morning’s news that Barack (amazing, to actually feel like we can be on first name basis with our president) has instructed federal authorities to loosen up their practices of secrecy of information.

Remember the Freedom of Information Act?

Well, he’s actually enforcing it.

Now, you ask, what is the relevance of this to my Corney’s Model of a cashless, taxless economy?
It has significant relevance.
One of the primary arguments against my model is the alleged ability of our private financial affairs to be monitored by a centralized, “Eye-in-the-Sky” force of power.
Guess what, folks?
With Barack’s policy of open information, we will become that “Eye-in-the-Sky” force of power with the ability to monitor who, if anyone, is monitoring our private stuff and act accordingly.

Thus, here we have another instance of power-to-the-people, and another solid argument for the implementation of my plan.

Cashless Society – 3

I heard a man talk this morning.
In fact, I heard him give a speech.
Did anyone else hear this man talk?
Before I heard this man speak, I thought that the days until our cashless society would be quite some indeed.
But today, in the day of this new America, in the light of this man’s view of America: a view of not tolerating putting off decisions that will be good for all because of politics and childish behavior, I’m beginning to think that day might be closer than we think.
Let’s just hope the 44th President of the United States, Barak H. Obama, can pull it off.

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free

Cashless Society – 2

It’s been five years since Keith Regan wrote about a cashless society in an article in E-Commerce Times.
Since that time, progress has been made to that end, albeit in indirect, yet effective ways.

Here’s the deal, guys and gals.
Cash is expensive. Huh? That’s right.
We’ve got an economy out there that is melting before our eyes and yet we insist on traveling to the bank once a week, and buying things with cash money.
In fairness, though, we have made progress.
We are not visiting the bank quite as much, which reduces their costs which in turn is good for us customers.
But, instead we are visiting ATM machines where we are getting — CASH!!!

What’s the alternative? Technology!
Technology in the form of electronic payment devices – cash cards, debit cards, antenna’d devices, or even cell phones!
The cost of using technology for financial transactions is far less than the cost of dealing with money – money costs money to make, store, distribute, and bank. Technology costs virtually nothing other than the price of the gadgets involved.

Regan also points out that the
road block on this cashless thing is US!
That’s right – it is our reluctance to give up our pocket and pocketbook full of change for lunch, candy, or a newspaper.
We have also become attached to the feel of a thick wad of green stuff.

Illusion! Think!
That pile of green stuff in your pocket might
as well be rotting cabbage.
Those clinking coins might as well be a pile of tin. Worthless.

Think more: a cashless society means more money for all of us.

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free.

Cashless Society – 1

You know how everyone is one their cell phone?
24/7? While horseback riding, roller skating, driving, and just about any other activity you can think of?

The cell phone has become ubiquitous.
Its availability transcends economic boundaries and it has become the beacon of modern day society.

In an article in E-Commerce Times in 2004, Keith Regan, discussed the inevitability of a cashless society, an inevitability that will benefit our economy in countless ways.
But the point I want to make now is that he poses the idea of the cell phone as the point of power – the point from which all financial transactions originate.
The topic of a cashless society has been raised before, including by yours truly, and many payment vehicles have been suggested.
But this cell phone thing is really the cat’s meow, IMHO.
Assuming its use, implementation is simply a puff of smoke away!

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free.

How to Lose your House the easy Way

“One of every five mortgage holders now has a home worth less than the mortgage on it”

From the Washington Post.com, January 17 edition:
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/16/AR2009011604724.html?wpisrc=newsletter

I am stymied to see this in print, but at the same time, not surprised.
My jaw dropped when I read the bit about a couple in Riverside Ca. who are paying a mortgage of $6400 a month yet their home’s value is now far below what they paid and selling is therefore impossible.

California is known for its high taxes so I can’t help but wonder how much of this payment is for property and school tax.
Taxes, the bane of existence, at least as structured today.
All very Republican in approach. I have high hopes for President elect Obama: do you?

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free.

My dear readers – 7

My son is struggling in this economic cesspool we have plunged ourselves into, or rather, that we have been plunged into.
But folks, we have to take some responsibility because we voted for the buffoons who made this quagmire and created highways of quicksand.

Let me tell you, I’m pissed.
Now back to my son.
He recently lost his three-figure job, can’t pay his mortgage, has to withdraw my granddaughter from the fine private school she attends, must turn in his car, and so on down the line.
The solution seems simple:
I have money (no brag, just fact) and I want to give him what he needs to get on his feet and keep going, minus a few unnecessary elements of his lifestyle.

Well, have you ever heard of gift tax?
When a person dies, in order to ensure the feds get their full share of estate tax, they have enacted a gift tax law which allows a parent to give each child a maximum of $12,000 each year.
(This amount is periodically adjusted for inflation).
This is designed to prevent parents from giving their children their inheritance before their death, when the total estate is taxed and its value reduced.

Now, if more than $12,000 is given to a child, then the giver (parent) must pay taxes on anything over that amount.
And what is the tax rate?
It is anywhere between 41 – 45 percent.
The child theoretically doesn’t have to pay a dime, but if you consider the almost 50 percent tax rate, tax payment is passive (reduced amount of inheritance).

So, back to my son: is he screwed?
here is one way around the gift tax thing, and that it is to fashion a loan at an interest considered to be the “going rate” for similar loans.
This may be our way to go because I don’t want to pay close to 50 percent in taxes, and I don’t want my son to get gypped out of money he needs.

Okay, loan aside, because I love my son, I will find a way around this and help him survive.
But what I resent and want to point out to you is the complete hypocrisy of discouraging me from helping my son in an abominable and outrageous economy!

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free.

My dear readers – 6

Per usual, I awoke to the classical music and NPR news of my favorite local radio channel. Business as usual, except that it wasn’t.

It wasn’t because today was the sound of an unscheduled station membership drive.

As a not-for-profit, the organization supplements its government allocations and grants with income derived from local members.

But the fact is, these membership drives are only held twice each year and for a week at a time – in the spring and in the fall.

So to wake up this morning to the anchor’s almost desperate plea for listeners to pick up the phone and make a donation was a disturbing way to be jolted out of bed.

Antenna tuned, here’s what I learned about this drive.

First, it was a one-day drive.

Second, it was quickly assembled to make up some portion of what the station recently learned is a 50 percent cut in its state funding!

I was astounded.
Evidently, so were station execs. In belt-tightening mode for quite some months, their expectation was for a 20 – 25 percent reduction.

Imagine their concern (panic) when they learned it was indeed going to be 50 percent?
Imagine my concern to think that my precious NPR station might need to cease its local programming and rely strictly on the canned stuff?

Did I pick up the phone this morning?

You bet I did.

What’s next?
Is my church going to close for lack of Sunday contributions and diocesan budget cuts?
Is the state college where I teach going to eliminate my program because it has 10 fewer students enrolled than last year?
Do you think this economic game of dominos will ever cease?

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free.

My dear readers – 5

I’m calling this letter “The All-American Steak-out (Not)” in honor of what has become the most devastating economic time since the great depression.
Needless to say, we are NOT eating a lot of steak out.
Perhaps you’ve noticed many restaurants suddenly closing their doors with nary a notice to customers or employees?
Or, for those stalwart souls who keep their restaurants running, the menus have changed: fewer selections and higher (much) prices.
A glass of wine?
Get this, I paid $9 for a glass of the house wine in one of my favorite haunts, recently.
Haunt is indeed the word – I am haunted right out of it and most restaurants for some time to come.

Now for the subtitle of this little diatribe of mine:

How to Out-Steak and Survive a Tumbling Economy.

Onward with our adventure:
I’ve compiled a medley of techniques, ideas, and suggestions to help you keep your financial feet on the ground during this turbulent time:

1. Destroy all credit cards:
   No more living on credit, gang.
   That’s how this whole thing began!
   What you can’t pay cash for, you simply don’t get.
   But what’s cool is that you’ll be able to sleep at night while Joe Blow down the street who went and bought it on credit will lay awake nights wondering how he’s going to pay for it.
2. Discontinue all services.
   From now on, shovel your own driveway, mow your own lawn, clean your own house, sew on your own buttons.
   Think of the exercise, the fun, the Zen!!
3. Drastically cut your entertainment budget.
   Now, mind you, I’m not saying to cut out entertainment, I’m just saying to cut the budget.
   I mean: forgo the five-star restaurant for a five-course home-cooked meal. Quit your movie outings and get Netflix instead.
   The midwinter Caribbean cruise?
   Nope – go buy a palm tree, sunlamp, and mix up a pitcher of pina coladas.
   Summer in the mountains?
   Take the kids to the local climbing wall instead.
4. Keep your car:
   forever!
   Well, this is a bit of an exaggeration, but the days of a new car every other year or so should be GONE!
   Should be no problem as long as you keep your car in good condition and keep up with the every 3,000 mile oil change, new tires when needed, and so on.
5. Downsize.
   Do you really need that monstrous house in the ritziest suburb around?
   We drove up to a disgustingly big house one day and my daughter asked me, Dad, is this really necessary?
   Keep it simple, Simon (and Sally) and get what you need – no more, no less.

By the way, as a preview to a complete overhaul of the current tax system, I invite you to download my report “Done with Cash” for free.