The Daily Star, Oneonta, NY - otsego county news, delaware county news, oneonta news, oneonta sports

Tom Grace

September 23, 2008

Travels with Uncle Chet: Gov't won't bail out taxpayers

COLUMBUS _ ``Don't give 'em a dime unless they're willing to go public,'' said Uncle Chet, who sat across from me at the card table.

``They say some companies are too big to fail,'' said Alice.

``They'll say anything to get their hands on your money.'' He stared at his cards. ``If they're making us taxpayers eat the bad debt, we should get the good debt, too. Why should we be punished for someone else's pyramid scheme?''

``I'll go two,'' said Hon.

``Three,'' I said.

``They're telling us we can't afford national health care, which we obviously need, then just last week they coughed up $85 billion to buy AIG, an insurance company we obviously don't need,'' he said.

``Now that's leadership,'' I said.

``I just don't think Uncle Sammy should swallow another trillion in debt to bail out financial gangsters,'' said Uncle Chet. ``Let me ask you this: Did they cut us in when they made their billions, buying their islands, living high on the hog?''

``No way,'' I said.

``If this were happening the other way around, would they open their wallets to the average Joe and Josephine?'' he asked.

``Bye me,'' said Alice, tossing long white hair, like Emmylou Harris', side to side.

``Now if I were a rich broker, a kingmaker, I'd go four; then if I didn't make it, I'd whine about how I'm too big and important to lose this game of cards,'' said Uncle Chet.

``Does that mean you're passing?'' said Hon.

``At my age, don't even say that,'' he said. ``Yes, I'm relying on my partner.''

``Spades,'' I said, and laid down the ace in this backwoods game of pitch _ high-low-jack game.

Alice had no spades, Uncle Chet had the deuce and that gave us high and low. Hon grew quiet, sloughing off a card, and I knew that's where the trouble would be coming from.

``So what's the best-kept secret of this presidential race?'' asked Uncle Chet, refilling his glass with table wine.

``How McCain left his first wife?'' said Alice.

``No, everyone's heard that,'' he said. ``He dumped her for the rich young one.''

``The Keating Five?'' said Hon.

``That might be it,'' he said, ``but I was thinking about how McCain wants to privatize Social Security. He wants to take 25 percent of our retirement and give it to Bear Stearns.''

``There is no Bear Stearns.'' I led the 10 of spades, fishing for trump.

``I meant Lehman Brothers,'' he said.

``You know there's no Lehman Brothers,'' said Alice.

``Merrill Lynch.''

``Technically, you're wrong again,'' I said, and collected the trick. Uncle Chet was out of trump now, but Hon was still in.

``He doesn't mind gambling with Social Security, because to him, it's just beer money,'' said Uncle Chet. "Remember, he thinks that if you make four million a year, you're still middle class.''

``Don't I wish,'' I said.

``And what if people invest their Social Security but lose their shirts?'' said Alice. ``What happens then?''

``Chaos,'' I said. ``Riots.''

``Well, Obama's against privatizing Social Security, McCain's for it, and I'd like to hear about that when they debate,'' he said.

``The excuse for privatizing it is the fund may go broke eventually if we don't do something different,'' said Hon.

``That's because the rich are getting away with murder,'' said Uncle Chet. ``Right now, all income up to $102,000 a year is taxed, and nothing beyond that. So if you make $50,000, every dime is subject to Social Security tax. But you make $20 billion and own a fleet of ocean liners, you only pay Social Security tax on the first $102,000.''

``So we should tax some of that upper income,'' I suggested.

``An obvious solution, because that's where the money is,'' said Uncle Chet. ``Obama's for it, but need I say, McCain is on the other side.''

___

Cooperstown News Bureau Reporter Tom Grace is traveling with his Uncle Chet, who he says is imaginary. Grace's column appears every other week.

Text Only
Tom Grace

Additional Content
Join the Debate
Helium
Additional Resources
CNHI News Service
Poll

Do you think it will be a hot summer?

Yes
No
There's no way to tell
     View Results