More Government Bashing

More government bashing -- this time not from me. It's not over waste, but about Social Security. Click the link and check it out for yourself.

I've had some people comment about my on-going issue with government waste and spending. Just in case you're interested, here's why I'm talking about it:

1. It's my money. Notice I file these posts under the "taxes" category. I pay a good amount of taxes and would like to get a decent return for them. Generally, I do get a fair return, but just like I'd scream if Vanguard wasted some of my investments or if my wife bought something I thought was useless, I'm going to take note when the government takes my money and uses it in ways I don't like.

2. It's your money too. This blog is about growing your net worth. Expenses are a hinderance to growing your net worth. What's one of your biggest expenses? Yep, taxes. The least I can do is notice when your money is wasted.

3. It's an election year. Folks, we all better start thinking now about how the next president will impact our finances, taxes, spending, and so on. Remember, "It's the economy, stupid." Unfortunately, you never know what you're getting in a politician until after they are elected. Some are better than expected and some are worse. But there seems to be something about finally holding an office that brings out people's true colors.

4. DIY. I'm a do-it-yourselfer in all other areas and I'd prefer to be one when it comes to Social Security. But I don't get that choice.

5. I hate waste. I'd be a lot happier paying my taxes (and paying even more possibly) if I thought a good percentage of them weren't being wasted or spent on bureaucracy. Just like I wouldn't give to a charity with a record of high administrative expenses, why should I have to give to a government with one?

6. Waste, part 2. I work to control financial waste in my own life and I'm holding my government to the same standard.

Really, I'm not a government-hater. But I do get irked when I see my tax dollars wasted, spent on pork-barrel projects, and allocated to mandatory programs that I'd rather manage myself.

Ok, I'll get off the subject for now and simply wish you all a great weekend.

Comments

[Kevin]

I wish you could take some sort of test to show financial smarts and be exempt from SS tax and be free to invest it on your own. Or at least still pay the tax, but be able to invest it as we please.

[J in FL]

On a roll eh FMF? ;)

I agree though... and IMO neither of the parties are providing policies that spend less. But, of course, I'll still vote.

[Todd]

I'm a government hater. I despise our system of taxation and all the lazy pissants who live off of it. In my view, almost all of the money is wasted.

[Liz]

FMF -

I agree completely on the waste issue. If there is one thing that just drives me absolutely crazy, it's any kind of waste. Reading your post reminds of that movie, "Dave" (I think) with Kevin Klein and Sigourney Weaver. In a nutshell, Kevin Klein becomes president and has a meeting to cut billions from the budget for all the B.S. spending. He asks something like "why are we spending $2.1 million to make people feel good about driving their cars?" or something like that. Brilliant! If you haven't seen it, it's a fantastic movie - too bad they couldn't adopt it in real life. :)

[Kirk]

I grew up in Flint, Michigan - a huge union town. So I grew up a Democrat. Then I served in the military with one tour at Headquarters where I saw big government in action. I left the military a libertarian.

The level of waste is egregious. Even the loyal, dedicated government employees, which are few in number, can't achieve much because of the bureaucracy and political infights.

Social Security started as a safety net in the 30s with only a 3% wage tax. During the 60s, the politicians decided to pander for votes and used a government surplus to extend Social Security to all. It was the Republicans, oddly enough, that really pushed for it.

We need to somehow make this an issue in the election. It is much more important than John McCain's age or statements made by Jeremiah Wright.

[mls]

A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.
Adam

[mccall]

I agree your thought. The things need to be sorted out because it’s not about the individual but it can be with everyone.

mls