On Friday, I read an article about the Port of Seattle again delaying the purchase of the Eastside Rail corridor. Because they didn't think it was a good time to go begging to Wall Street for $107 Million. Because there were not 107 millionaires willing to buy the bonds, because they're all trying to find secure places for their money. Rich people are stupid. Hello, Tay! Over here!!! Instead of looking for 107 rich silver spoons, how about asking if King County has a million people who would be willing to buy a bond for $107? We've already expressed interest in helping, you just need to make the municipal bonds available at denominations we can afford! Unthinkable?
Next was all of the hype about how unfair it is to tax AIG bonuses at 90%. Because it's targeting just those people. The Republicans are right, that is unfair. So let's make it fair. Let's tax EVERYONE who makes more than $3.5 million a year at 90% for every dollar earned above $3,500,000. Would that make it fair?
And then this article in the Boston Globe about millionaire audits taking a dive in 2008. What, you thought they would increase in an election year?
Frustrating weekend, news-wise. But, I got to speak to my sons twice! That's the kind of bonus I like.