I am encouraged the Republicans and Democrats will not support gutting the Retirement Fund. Do they have the stamina to see this through? I hope so. The obvious problem is while the governor has a plan, flawed as it is, he does have a plan. Those opposed to it must have one too. Without one they can only play on emotions because they don\u2019t have much now. The reasons the governor\u2019s plan is flawed have been enumerated at length elsewhere so I won\u2019t restate the obvious. What I can do is present a starting point for a different plan. FLAT TAX. Economists everywhere agree a government cannot support itself and the people it serves without a tax base. I challenge any elected official or their minions to counter the numerous fact filled, data supported arguments for a sustainable tax base. One that will provide services to the community. Are any of our elected officials trained economists? No, instead they are politicians worrying about re-election, worrying about the vote from their extended families, worrying about the special assistants and hangers-on. Worrying about the short-term, Band Aid fix. They no doubt have already made the \u201cvested\u201d retirement they are trying to gut. Ironically, most of these politicos have been in office throughout recent history and did nothing to address this looming problem. Why didn\u2019t they see the handwriting on the wall? Why fast track it now?<\/p>\n
On the other hand, experienced and formally educated professional economists and other number crunchers have a plan, (don\u2019t start whinnying about who does and does not have a formal education, believe it or not there is some value to one). Local resident economists and CPAs generally support some sort of tax base. The mindset that we can do everything for everyone forever must be changed. There is a very interesting article in today\u2019s Pacific Daily News that details the argument for and Alternative Minimum Tax (AMT). This is already working on the mainland and will work here. I implore those in the Legislature opposed to the governor\u2019s plan to get their own off the drawing boards and into the public for debate. It won\u2019t be pretty, taxes never are. My wife and I are in the income bracket that will be more heavily taxed under any plan. We already understand the need and benefit of a flat tax plan. For the good of the \u201ccountry\u201d someone up on Capital Hill must step up to the plate and take a swing for the future. Don\u2019t let the governor \u201cfast track\u201d anything. That is not the way he did business when he was in business. It is not the way to run the business of government now. Those who complain I might not be giving the administration the \u201cbenefit of the doubt\u201d don\u2019t seem to understand that by blinding following along they could be marching the rest of us right into the pits of economic hell.<\/p>\n
Jim Brewer
\nMarpi<\/p>\n","protected":false},"excerpt":{"rendered":"
I am encouraged the Republicans and Democrats will not support gutting the Retirement Fund. Do they have the stamina to see this through? I hope so. The obvious problem is while the governor has a plan, flawed as it is, he does have a plan.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-101255","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/101255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=101255"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/101255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=101255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=101255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=101255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}