I e-mailed U.S. News & World Report a letter to the editor, Brian Kelly, in response to his article "Journalism Critics Wanted" in the Aug. 18-25 issue. Now we'll see if he reads his e-mail.
The letter states, "I'll gladly tell you why you missed the mark. In our local paper yesterday, there was an AP article from Washington entitled, 'Companies Avoid Federal Income Taxes,' which states: Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. The study by the Government Accountability Office ... said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate. An outside tax expert, Chris Edwards of the libertarian Cato Institute, said increasing numbers of limited liability corporations and so-called 'S' corporations pay taxes under individual tax codes.
"Why don't you check why a retired dairy farmer like me has never trusted and never got involved with the futures market concerning agriculture? As a National Farmers Organization member, we picketed the Chicago Board of Trade over 40 years ago. Now there's a story that might be worth writing. You can Google my name and see that I've been involved in politics for many years. I wonder why the cost of food and fuel isn't considered in the cost of inflation or the Consumer Price Index? Anyhow, thank you for the challenge you made."
The cost of inflation is going up faster than the minimum wage, and that's why the middle class is in the bind they're in. You put this together with what's going on in our economy concerning banking and ask the question - How could things have gotten so far out of control? You have to look no further than our investment bankers, which are mostly in New York. They are so anxious to drag our commercial banks down with themselves and the stock market. You can go around saying this isn't true, but then explain why the FBI is investigating more than 90 banks. When IndyMac went bankrupt, that made some pretty disgusted viewing on TV. What's our Congress doing, and which presidential candidate will be more apt to solve the problem? Because the value of our dollar and credibility of our nation is in trouble.
The letter states, "I'll gladly tell you why you missed the mark. In our local paper yesterday, there was an AP article from Washington entitled, 'Companies Avoid Federal Income Taxes,' which states: Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. The study by the Government Accountability Office ... said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate. An outside tax expert, Chris Edwards of the libertarian Cato Institute, said increasing numbers of limited liability corporations and so-called 'S' corporations pay taxes under individual tax codes.
"Why don't you check why a retired dairy farmer like me has never trusted and never got involved with the futures market concerning agriculture? As a National Farmers Organization member, we picketed the Chicago Board of Trade over 40 years ago. Now there's a story that might be worth writing. You can Google my name and see that I've been involved in politics for many years. I wonder why the cost of food and fuel isn't considered in the cost of inflation or the Consumer Price Index? Anyhow, thank you for the challenge you made."
The cost of inflation is going up faster than the minimum wage, and that's why the middle class is in the bind they're in. You put this together with what's going on in our economy concerning banking and ask the question - How could things have gotten so far out of control? You have to look no further than our investment bankers, which are mostly in New York. They are so anxious to drag our commercial banks down with themselves and the stock market. You can go around saying this isn't true, but then explain why the FBI is investigating more than 90 banks. When IndyMac went bankrupt, that made some pretty disgusted viewing on TV. What's our Congress doing, and which presidential candidate will be more apt to solve the problem? Because the value of our dollar and credibility of our nation is in trouble.
