Jeff's Commentary - 7/29 - The Idiot Tax

Call it what you want, but we consumers have already been indirectly taxed by the inability of Congress to come to a consensus on the debt ceiling. Forget the bond ratings that one day will be lowered anyway because we spend 40 to 50 cents of every dollar on servicing the debt.

The stock market has already lost over five percent value this week so all our 401K’s and other investments have been impacted negatively.

In dialogue, it’s not a tax, but to my pocketbook it is. We all have lost value in our investments because these knuckleheads in Washington can’t get their heads out of the sand to come to a consensus on a deal. So it’s an “Idiot Tax” because we are the idiots who have voted in all the idiots in Washington who can’t get anything done.

For all the Michelle Bachmann and Tea Party ideologists who continue to insist we should let the debt ceiling expire, take a look now at your 401k’s. Get ready to go even deeper on the down side.

She was quoted as saying, “It is a flawed assumption to believe that the debt limit must be raised for America to thrive.” What planet is she living on!

Nothing is free and we do have to get our arms around entitlement spending to get this debt crisis fixed. Cuts need to be made. But there needs to be compromise before we blow the thing out.

Let’s get to the elections in 2012, and then you all vote for the direction you want the country to go in. I believe the lines in the sand will be very clear. Then hopefully one side or the other gets a majority and the proper cuts can be made because the votes will be there to get it done. And you will have had your say in voting in who you believe is the right choice to make this debt debate go away.

I’d like someone to focus on some job creation. GDP growth numbers came out today and they are miserable again. Instead of spending months and months on getting consensus on the debt ceiling, does anyone in Washington read local papers anymore to see that the country and the economy is sapped right now.

And we are the idiots for voting in these knuckleheads who can’t get anything done.
We get the “Idiot Tax” we deserve. Can’t wait for November 2012.

Jeff