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	<title>Charles W. Moore &#187; Clark Howard</title>
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		<title>TEA Party Comment Clark Howard</title>
		<link>http://www.charleswmoore.org/wordpress/index.php/2009/04/19/tea-party-comment-clark-howard/</link>
		<comments>http://www.charleswmoore.org/wordpress/index.php/2009/04/19/tea-party-comment-clark-howard/#comments</comments>
		<pubDate>Sun, 19 Apr 2009 20:31:21 +0000</pubDate>
		<dc:creator>cwmoore</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[capitalism]]></category>
		<category><![CDATA[Clark Howard]]></category>
		<category><![CDATA[TEA]]></category>

		<guid isPermaLink="false">http://www.charleswmoore.org/wordpress/?p=506</guid>
		<description><![CDATA[Apr 16, 2009 &#8212; Tea party protests belie real issues about gov&#8217;t spending The tea party protests around the country yesterday were quite a phenomenon. But they were not really about taxes in Clark&#8217;s opinion. Sure, our tax code is incredibly labyrinthine. After all, the consumer champ&#8217;s taxes were 169 pages long this year! However, [...]]]></description>
			<content:encoded><![CDATA[<p>Apr 16, 2009 &#8212; Tea party protests belie real issues about gov&#8217;t spending<br />
The tea party protests around the country yesterday were quite a phenomenon. But they were not really about taxes in Clark&#8217;s opinion.</p>
<p>Sure, our tax code is incredibly labyrinthine. After all, the consumer champ&#8217;s taxes were 169 pages long this year!</p>
<p>However, our tax rate is actually more favorable now than it&#8217;s been in recent decades &#8212; as strange as that may sound. The average family pays 9 cents on the dollar in taxes, according to an article in The Washington Post. Meanwhile, a new Gallup poll shows that roughly half of Americans are happy with the level of tax they pay.</p>
<p>In Clark&#8217;s case, his financial success means that his tax rate was effectively 34.3% this past year. That&#8217;s not particularly low, although it could have been much higher; at other points in our nation&#8217;s history, it has actually been as much as 90% for the wealthy!</p>
<p>So if taxes aren&#8217;t the real issue with the protests, then what is? The penny-pincher believes it is concern over government spending…and this is not a partisan issue. Former President George W. Bush was a huge spender and the Obama administration looks like it is heading down that same path.</p>
<p>Adding to the general unease people are feeling is the fact that we&#8217;ve perverted capitalism with the way both administrations handled bank failures and the collapse of the auto industry.</p>
<p>The banks should have been allowed to go insolvent. That&#8217;s why we have the FDIC. But they weren&#8217;t and now we&#8217;re in a neverland: Are institutions like Bank of America and Citibank private or are they public? Are they serving stockholders or the taxpayers?</p>
<p>Ditto with the auto industry. How absurd is it that President Obama basically fired the CEO of GM after the company got a bailout?! Again, it leaves us in a gray area similar to the bank conundrum.</p>
<p>When you&#8217;re sitting at the crux between capitalism and government control, you&#8217;re lost in the ozone. Clark compares it to the phrase &#8220;you can&#8217;t be a little bit pregnant.&#8221;</p>
<p>We need a hard restart back to the basic tenets of capitalism. If businesses can&#8217;t make a go of it, they should fail and the stockholders should be wiped out. Period. </p>
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