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Published on December 16th, 2010 | by Leonard Jackson

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Just a Thought

TaxesIn the Wall Street Journal today Daniel Henninger offered an interesting question in which the answer could well determine the direction this country will be heading for many years in the future. What Are Taxes For? was the question and at this time in the economic history of our nation when everyone is talking about tax reform and how to implement it provides an excellent topic for debate. In the face of this unconscionable 1,924 page, 1.something trillion dollar “omnibus” spending bill being rammed through Congress by the Democrat lame-duck leadership it points out dramatically the basic philosophy differences in the two sides. Do we pay taxes to support all governments – federal, state and local – to reduce the deficit or maybe something else? Some believe a modern tax system should provide a balance between the private and public economies that will best achieve the highest possible level of growth in the private economy with a competent, efficient state in a supporting role. There seems to be a strong feeling in the current administration that this nation’s primacy is not as important as it once was and taxes should be used to ensure mainly the functioning of the state. It seems to me that the prevailing response to the question from Mr. Henninger will determine whether or not we want the U.S. to remain the world’s pre-eminent economic and military power for the next generation or the “fairness doctrine” prevails in our use of our tax dollars.

December 12, 2010
The roof at the Metrodome, home of the Minnesota Vikings NFL team collapsed the other day due to the heavy downfall of snow that dropped 17 to 20 inches on the area. The roof has failed three times before in 1981, 1982 and 1983 because of tears caused by heavy snowfall.
Wouldn’t you think that if you were going to build something that may have as many as 60+thousand people inside at an event you would at least make sure that it could withstand the largest possible snowstorm – this is Minneapolis, Minnesota. I can’t believe that, as far as I know, no one has been injured in any of these man-made catastrophes.

December 3, 2010
I see that the House voted to censure Representative Charles Rangel, (Dem) New York, for just some of his numerous misdeeds over a 40 year Congressional career. The House voted 333-79 to censure Rangel for failing to pay all his taxes, filing misleading financial statements, improperly seeking money from corporate interests for a college center bearing his name and setting up a campaign office in a subsidized New York apartment designated for residential use. But guess who didn’t think this was bad enough for Mr. Rangel to be reprimanded? Beside the obvious – his Harlem constituency (who reelected him by an 80% margin in November – why our own Emanuel Cleaver and Dennis Moore. Cleaver stated that it was nothing everybody else didn’t do and Moore, as usual, said nothing of any consequence. Aren’t we all proud of this representation; at least we’ve extracted half of the problem for 2011 – that’s a start.

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About the Author

Leonard Jackson

As I prepare my “reentry” into the e-world of blogging, I am advised that I should provide my prospective audience with a brief biographical résumé covering my life’s work and future aspirations so that I, and my work, can be properly categorized and thus judged in the proper venue. Since I will be joining a new group in just a few short months, it came to my attention that for a quick summary I can cover my life span in 20 year segments that pretty well sum up the route that I took to get to where I am today. In December, the Lord willing, I will become a member of that esteemed group known as Octogenarians. . Now that may be a disturbing, even scary, pigeonhole for some folks to find themselves assigned to, but I’m beginning to realize some real benefits from being maturity advantaged. The first 20 years I grew up, was educated and began my married life and my career. Second period was about 20 years in the cotton business in Memphis, TN. Trading this commodity in the world’s largest inland cotton market. Third period was spent in the municipal bond industry in Memphis, Houston TX Chicago and finally to my present home in Kansas City, MO. The fourth 20 years I served as a registered investment adviser to a number of individual clients which I continue to do in a semi-retired capacity. In addition to all this, over all these years, I have been blessed with a loving wife of sixty years, four children, four grandchildren, two great grandchildren, and a menagerie of grand horses, dogs, cats and a donkey. Providentially, none of these, except of course my patient wife, are still living in the family home. And now the fifth period will be consumed in my new career. For the first time in all the years I have an opportunity to share my opinions with the world. I can truly express my thoughts without regard to any extenuating conditions. I can just say how I feel about any subject. How liberating. Let the blogging begin!!!! By the way – what I do in the next period remains to be seen and depends on how well I do in the fifth period.



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