Saturday, July 21, 2007

Booing Bonds

Ok, so when Bonds comes to the plate, the fans boo, but wait a second, are we talking baseball or inside baseball. Political bonds are about borrowing money with the state taxpayer's earnings - involuntarily donated - as the capital backing the investor risk. And the ones expropriating have the power, albeit collectively, to change the law to withdraw more from this endless bank account. Unless their representatives cry foul, or those who vote on Hall of Fame ballots refuse to induct on first ballot. Can you say strikeout? Well, no borrowing, not $500 million in RCAP, not $850 million for energy independence, not $40 million a year from a surcharge on electric bills to repay interest on the bonds, not borrowing against turnpike revenues, none of it is now law, and if you know what I'm talking about, then I pitty you. If you were paying lipservice to supporting more taxes, then I pity you more. If you spun your desire to earn less in your paycheck, I pity you double. In this one instance, I was glad to support the minority viewpoint, that taxes are bad, borrowing bad, especially in times of huge budget surplus...If you believe we can tax to prosperity, ok, we're prosperous as a nation, but me, personally, I don't take home enough of my government pay...and I'd rather keep the pennies that accumulate to dollars so I can keep eating my Hot Pockets for lunch. As far as Barry of the baseball Bonds, so close to the goal of 756? Well, pork, according to Jules in Pulp Fiction, "Pigs are filthy animals. I don't eat filthy animals. " Ah, pork, it eats its own feces and suffers from personality disorder, "But, a dog's got personality. Personality goes a long way." Well, Barry has perosnality too, and so does, dog's reverse, the devil being in details, and revile is not far from devil spelling-wise, which is what House members and sportswriters and fans due for taxes, and their boos tax Barry, but he keeps hitting, tax-free and steroid-free...and poor barry, well he's the goat for the allegations and the millions made with big flies (around the dung of his personality), but he's not the goat curse on the Cubs, or those PA young bucks, 27 Ds, 23 Rs, none of whom, the 50 House newbies, had to vote for a tax increase during this their first budget, but of course there was pork to be eaten at thr trough somewhere...nor did they vote to tax the future, and ther re-election chances. Out children, with borrrowing, borrowing and more borrowing, will be repaying these debts. I'm an environmentalist, but I opposed the $625 million for Growing Greener bonds that voter voted for on the ballot, and in fact the Persian Gulf war vet bond issue...Why? Because for the privilege of spending that money now costs us more in the long haul, the GGI bonds cost maybe $1-1.2 billion to repay, a 52% premium when I did the math, to repay the interest on the bonds (for those that can afford to invest in them, a secure asset for retirement) that our children will be servicing with their taxes when they grow up and become taxpayers, assuming they don't move to some warm state, taking our electoral college votes and tax dollars with them. But that is another issue, this Brain Drain, for another day. No new taxes, borrowing and not so much spending. I'd say that's not so bad a deal for taxpayers. And Rendell can somehow claim victory too.

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