Oct 28, 2008

Ming Saw The Handwriting On The Wall

"For a good time call Honey Galore at ..." No, Ming is confused. That was another wall altogether. Some time ago, when his self directed IRA investments were at their nadir, he took the tax hit, sans penalties, and closed them out. Not only did this save taxation at ordinary income rates on future appreciation while minimizing the present exaction on closure, but freed him from the vagaries of a capricious government.
The thought was that in the fullness of time, our glorious, but grasping government would either decree that social security would be limited to only the improvident who had no such fallbacks and/or some new exaction would be imposed on these accounts that now enjoy a tax benefit.
The prescient Ming now sees a trial balloon being floated to fold all such accounts into some government run fiasco. It gets worse. The technology now exists that can literally read the money in your pocket as you pass through a device used in airports. But no matter. As more people opt out and flee to the cash based economy, Ming speculates that the currency will be recalled and some card showing how much you possess will be issued in it's stead to track all your receipts and expenditures.
Now, just like poor Supreme Court Justice, Clarence Thomas, caught using his credit card, all the porno you buy will be there for the government to see. They may even choose to restrict the amount of Cheese Doodles you are allowed to purchase and consume while watching your precious porno to cut down on Medicare payments.
You laugh at poor Ming's concerns, but he sees the handwriting on the wall. Now if only he can decipher that phone number, he might also get to see Honey Galore before the government takes that away too.

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