It happens every year about this time. It makes me smile every time.
I love summer. I love the long days. I love the heat.
Every year about this time, I am caught off guard when the nighttime temperature drops, seeming suddenly. It happened just the other night.
Another thing that creeps up on me is the short nightfall. I am accustomed to the long days of summer. Like the First Cool Night, the other night twilight crept up on me. I looked at the clock...wow.
Perhaps my favorite thing about these events is that, in Southern California, both are followed by hot, gorgeous summer days. The message is the same each year: summer will end, so prepare yourself...but not yet.
I am surprised to be writing another entry that may be construed as political, but it's been on my mind.
Mr. Romney released his 2011 tax figures recently. He's been in the news for not releasing this info promptly. It turns out, he had an effective tax rate of 14.1%. That is less than his secretary. Mr. Obama released his 2011 info in April. His effective tax rate was 20.5%. That was less than his secretary, too.
I suppose my take on this information is not typical. My response is: good for you, gentlemen! If Romney or Obama paid any extra money in taxes, just to appear to be one of lumpen-proletariat, my respect for them would drop considerably. Organizing your finances to take advantage of tax laws is not a crime; in fact, it is a virtue. (My opinion).
Enter: Warren Buffett. Mr. Buffett thinks he does not pay enough in taxes. Mr. Buffett's effective tax rate for 2010 was 11.06%. While you might think Mr. Buffett doesn't pay enough in taxes, I disagree. Mr. Buffett paid $6,923,494 in federal income taxes and I think that is plenty. Why should he pay more to the government than about 99.9997% of the rest of the population? I've noticed that Mr. Buffett hasn't suggested a figure that he thinks is more fair, nor has he thrown in a little more just to make him feel better about himself--not that he needs to, in my opinion. I hear he is very charitable, and a heck of a nice guy. I think he is savvy. I'm pretty sure I wouldn't be giving a lot extra to the government either, even at his nosebleed-level income. Nope, Mr. Buffett is waiting for the laws to change, then he will comply, perhaps happily.
Is each of these guys paying their fair share? I say yes. Why? Because that's the law.
