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Carol H Tucker

Passionate about knowledge management and organizational development, expert in loan servicing, virtual world denizen and community facilitator, and a DISNEY fan

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beladona Memorial

Be warned:in this very rich environment where you can immerse yourself so completely, your emotions will become engaged -- and not everyone is cognizant of that. Among the many excellent features of SL, there is no auto-return on hearts, so be wary of where your's wanders...

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taxes, taxes, taxes....

Today is the 2nd day of the 40th week, the 28th day of the 9th month, the 272nd day of 2020 [with only 87 shopping days left until Christmas], and: 
  • Confucius Day
  • Family Day
  • Fish Tank Floorshow Night
  • Freedom from Hunger Day
  • Gold Lining Day
  • International Day for Unerversal Acess to Information
  • International Right to Know Day
  • National Drink Beer Day
  • National Good Neighbor Day
  • National North Carolina Day
  • National Strawberry Cream Pie Day
  • Read a Child a Book You Like Day
  • World Rabies Day
  • Yom Kippur
Quote of the day:
Mindfulness allows us to watch our thoughts, see how one thought leads to the next, decide if we’re heading toward an unhealthy path, and if so, let go and change directions.”
~  Sharon Salzberg, “Mindfulness and Difficult Emotions

When I started working in the Loan Department at Commercial & Farmers Bank, I became privy to many borrowers’ personal financial statements and federal tax returns.  For the first time, I realized that people who could buy and sell everything my family ever had owned without even blinking were paying less in income taxes than I was --  not just a lower percentage of their income, mind you, but actually less in cold, hard cash.  I quickly  realized that this was systemically true of all of the 1% -- someone who made in an hour what I make in a year was paying less than I in taxes.  Why?  Because they could afford to hire a team of tax lawyers and accountants to make sure they paid as little to the government as possible, utilizing every loophole in the tax code to reduce their obligations and I could not.  And don’t even get me started about the benefits enjoyed by large businesses!  My deep and bitter resentment at this inequity has only grown in the past 35 years of working in financial services. 

As a result?  I have become an advocate of the flat tax.  Everyone – individual and business -- who makes over $50K pays the same percentage [let’s say 20%] of their income to the government to fund the infrastructure that supports us all.  EVERYONE, including every business.  No deductions, no loopholes. 

Supposedly a flat tax system benefits the rich and penalizes the poor.  While I understand this still means the rich have more in the way of disposable income, a disparity that supposedly was being addressed by the graduated income tax tables, but given the fact that most of the 1% and the wealthiest corporations are skating by paying very little?  I think a flat tax will increase revenue markedly, while actually reducing the tax burden on most of us.  And it would be nice to know the rich were paying their fair share instead of blithely skipping off into the sunset.


((obviously finding out that DJT paid less in taxes for 15 years than I paid just last year really annoys me even though I am not the least bit surprised.))
Permalink | Monday, September 28, 2020