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Commentary About the Blue Marble

Tag Archives: personal-finance

Dim Future

25 Monday Aug 2025

Posted by Commentary about the Blue Marble in Inactivity, Politics

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Economy, finance, personal-finance, politics, Trump

        The future is not bright because our elected officials of both parties are more concerned about how to make sure they are re-elected in the next election than the distant future.

            Everyone knows we are running full speed into a debt disaster yet they keep cutting taxes and exempting more and more income from individuals and businesses. The longer those sitting in the capitol building run up the debt, the harder it will be to fix it. Remember, the economy boomed during the President Clinton Presidency and that tax rate while paying down the debt. Congress should go back to that rate and do away with more corporate exemptions lobbyists paid for. The longer they worry about re-election, the more painful it will be to ninety-nine percent of us.

            Social Security and Medicare are not being replenished by today’s workers. Again Washington knows how to fix it and most of us know also. A quick change to push the problem farther away is to remove the salary cap so all incomes pay into it whether it’s a wage or an investment. Cap all payouts to anyone with an income of over $150,000. As more robots replace humans, the human cannot pay into Social Security so a solution would be for the company to continue the social Security payment for that replaced human.

            Only a duped fool cannot see global warming is here and getting worse every day. Today’s Congress is bent on increasing the country’s contribution of carbon dioxide and methane. It seems we read every day they have done something to peel back laws and regulations designed to try to save humanity from a very ugly future. The future is much worse than today.

            Congressional members need to be more concerned about us than keeping their chairs.

As Governor I Would…

23 Tuesday Jul 2024

Posted by Commentary about the Blue Marble in Financial Responsibility, State Pensions

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pension, pensions, personal-finance, REtirement, retirement-planning

        As Illinois Governor I would work towards making a couple of million people mad at me while making the rest happy with my efforts. Two of the changes I would push involve how the state operates its finances. Elected officials would be the first to protest them.

            First on my agenda would be to find the niche a retiring Supreme Court Judge told me could be used to tax Illinois pensions. If such a niche was found to be unconstitutional I would lead an effort to amend it. Currently over 600,000 people get a monthly pension check. Many are for $100,000 per year with some recipients receiving two or three pension checks. My change would allow only one plan distribution and add any a person cannot receive a pension check while working as a consultant with any state project or department. That is over $2.5 Billion that would be subject to being taxed each month. A large portion of those taxes goes to people living out of Illinois and thus being spent elsewhere. The money would go solely to help pay down the pension deficits.

            Another change would be to eliminate the slush fund each Representative and Senator is given in each session to spend within their district. Imagine each Senator and Representative getting over $100,000 to spend in their district. Some probably goes to a worthy project but we all know what happens when a politician is given a big chunk of money to spend. How much of that $177 million goes to a needed project and how much goes to curry favor from someone or a group.  An ethical politician wouldn’t waste money and return the unspent funds at the end of the term. The idea was the distribution would be the same for each person in either party to spend in their district as they know best. Great idea but reality says it is just a legal tax payer funded slush fund. Local projects should be done with local funds.

            These easy changes would help fix the state’s finances and reduce the state Debt!

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