Have we lost our common sense? Our government is spending more than what it is taking in. Our politicians cannot make coherent statements, instead they speak gibberish. Our corporations, viewed as icons in our society, are giving away technology at a drop of the hat for the sake of the almighty buck. When and where will all this end.
I am always reading, it is something I love to do. It makes me think, another thing I love to do. And often I get a little passionate about what I am reading and need to vent. Today is one of those days.
Before I start ranting though, I want to say congrats to the Boeing Company and its employees. The first 787 was delivered on Monday of this week, and after so many years of working on the product it is nice to see that it has finally been delivered to ANA. This airplane will be the new workhorse for the airline industry. I can hardly wait to fly on one. Everyone worked very hard on that plane.
Now comes the ranting. Flat tax proponent Steve Forbes is absolutely correct. Flat is the new fair. If we really want a solid tax system we need to completely revamp our current tax code. However, our politicians don’t want to go there. Sometimes I think it is a control thing. If a tax code is simple, then people will understand it. If not then we have to have large government agencies, and huge industries, to provide services for people that will help them fill out their forms and pay their taxes. The people who can afford to work the system thrive and pay little, while those of us who can’t pay the most. It appears that a flat tax will eliminate double taxation of savings and investments.
Herman Cain has an interesting plan. He calls it the 9-9-9 plan. Personal income will be taxed 9%, net business income tax will be 9%, and we will be charged a national sales tax of 9%. I don’t think we know how this will actually work in the long run, but it is interesting. My only concern is state and local taxes on top of that. The fact is, we enjoy a certain amount of services that are provided by the government. We cannot continue to assume that we get something for nothing. A flat tax does provide a long term solution.
I think greed and entitlement is throttling this country. Another example of this is what GE is doing in China. GE is participating in a joint venture with the Chinese aviation company that is developing the C919, a 737 size airplane that will compete with Airbus and Boeing in the near future. GE is providing the avionics for the plane. The avionics are the brains of the airplane. The question everyone has “is GE giving away the farm by providing proprietary information to another country?” John Bussey, a reporter for the Wall Street Journal, asked Jeff Immelt, CEO of GE, that tough question. Immelt stated, “I’m done, this was reviewed by the Commerce Department and the Defense Department.”
I had this same concern when Boeing partnered with Japan on the 787. Japanese industry had the responsibility to build the wing for the airplane. This meant that Boeing would give the Japanese engineering information on how a wing is built by Boeing. Lift, as well as avionics, are critical design elements that will give a company competitive advantage over another entity. I am amazed at how easily Boeing gave a future competitor proprietary information on wing technology, and how easily GE is giving China avionic details that you better believe will make it into their stealth fighters.
Both of these examples are national security issues, and we just give them away for the almighty buck. My gosh that irritates me. If you could only hear how hard I am hitting the keys on my computer. What are we thinking?
And that is my thought for the day!