Open letter to:
The Honorable Robert Casey
The Honorable Pat Toomey
Re: The country's fiscal state
Date: 4/11/14
Dear Senators,
I have been charged with the task of communicating with you, on behalf of my fellow Upper 1% earners. You are doing a bang-up job there in Washington. Top notch, really. We trust you will not let sequestration prevent you and your fellow legislators from authorizing billions of dollars for projects that don't benefit the Common Good one iota. A number of Upper Class families would now be Middle Class had they not been able to pocket what some would call "wasted" billions of tax payer dollars.
Sequestration was a nice touch. It helps to keep the masses from thinking there is enough for everyone. That is essential to our maintaining and consolidating our control over the Federal Government.
So far I have not heard any criticism of our raising prices at the beginning of the supply chain of goods and services in order to increase our profit margins. More specifically, we have not received any indication that any one has realized our raising prices is contributing to the rising cost of governing the country, which can't be done without goods and services. Make sure you continue blaming the rising cost of governing on the Democrats for their liberal spending.
My friends, the Kochs, are urging me to not forget tax rates. That Obama still wants to raise our rates just because we are rich. How can we get richer by paying more taxes? My great grand daddy was haunted by nightmares of 1940. His dying wish was for his progeny to do whatever was necessary to prevent the federal tax rate to ever rise again to 79% for people making over $82 million dollars. Thank God it's less than 40% these days. I can not fathom how families back then survived on a mere $17 million after taxes. Back then, we did not have the 150 tax expenditures in the tax code that save us so much these days. We would appreciate any additional expenditures that Congress could implement. And what are the chances of lowering the highest tax rate by a percentage point or two? Although the net worth of the upper 7% increased from 2009 to 2011 by 28%, it's not getting any easier to get richer. Too bad the other 93% lost 4% of their net worth. It might have been worse, though. Personally, I feel a little bad about the 1.5 million American households earning less than two dollars a day. On the other hand if they loose 4%, that's less than 8 cents per day. Chump change, right?
We of the Upper Class need to stick together. Isn't that so? We hear the other classes wining about the Common Good. If they want more good, let them get a second job or start their own business. I frankly don't understand these Progressives in Congress. We pay them enough to be in the Upper Class. Why aren't they loyal to the Upper Class? Don't they get that providing for the elderly, poor, and disabled and preserving the quality of the environment requires money? Who do they think contributes the lion's share of income tax? The highest quintile (over $108,000) pays 62% of federal income tax, as you know! Don't let the liberals confuse the issue by pointing out that we contribute to payroll taxes (Medicare and Social Security) only on the first $100,000 of our earnings.
We approve of your strategy of focusing on the increasing National Debt. It helps empower the fiscal conservatives who share our goal of increasing the wealth and power of the Upper Class. Have you given any thought to how you will respond if some Lower Class wiseacre realizes that much of the money spent to create the National Debt, helped make the wealthiest individuals and corporations even wealthier? Or that the increasing National Debt interest is benefiting some of the wealthiest?
In conclusion, we approve of lower taxes, cutting beneficial social and environmental programs, gutting government regulations of business and government regulatory agencies, "wasting" taxpayer dollars that benefit the Upper Class. In recognition of your exemplary government service and fiscally conservative philosophy, expect some generous support for your next campaigns.
Yours,
Cornelius Snodgrass III and distinguished company
Wall St.
