Sunday, January 22, 2012
Saturday, June 25, 2011
My Living Will
LIVING WILL JAMES D LYNCH
I, James Daniel Lynch] ("Declarant" herein), being of sound mind, and after careful consideration and thought, freely and intentionally make this revocable declaration to state that if I should become unable to make and communicate my own decisions on life sustaining or life support procedures, then my dying shall not be delayed, prolonged or extended artificially by medical science or life sustaining medical procedures, all according to the choices and decisions I have made and which are stated here in my Living Will.
It is my intent, hope and request that my instructions be honored and carried out by my physicians, family and friends, as my legal right.
As a Roman Catholic, I fervently believe that all humans will have a life after death. Furthermore, for those of us who approach the point that we are consuming more of the earthly riches and well being than what we are contributing, we should welcome the opportunity for a quick and inexpensive death. We should consider that perhaps an unconscious state that will result in pending death without expensive medical intervention might well be an invitation from our creator. Thus the final best lesson that can be taught to our offspring and other loved ones is the acceptance of this invitation.
Thus, if I am unable to make and communicate my own decisions regarding the use of medical life sustaining or life support systems and/or procedures, and if I have a sickness, illness, disease, injury or condition which has been diagnosed by a licensed medical doctors or physicians who has personally examined me, (or more than one (1) if required by applicable law), as being either (1) terminal or incurable certified to be terminal, or (2) a condition from which there is no reasonable hope of my recovery to a meaningful quality of life, which may reasonably be referred to as hopeless, although not necessarily "terminal" in the medical sense, or (3) has rendered me in a persistent vegetative state, or (4) a condition of extreme mental deterioration, or (5) permanently unconscious, then in the absence of my revoking this Living Will, all medical life sustaining or life support systems and procedures shall be withdrawn, unless I state otherwise in the following provisions.
Unless otherwise provided in this Living Will, nothing herein shall prohibit the administering of pain relieving drugs to me, or any other types of care purely for my comfort, even though such drugs or treatment may shorten my life, or be habit forming, or have other adverse side effects.
I am also stating the following additional instructions so that my Living Will is as clear as possible:
Resuscitation should never be administered even when I had been completely free of any disabilities other than age prior to the need for resuscitation.
Intravenous and Tube Feeding should only be given when I specifically ask for it.
Life Sustaining Surgery will only be requested by me if procedure cost less than my prior annual earned income and I am expected to be completely whole and independent of others.
New Medical Developments should only be used if cost is within limits in above paragraph and expectation the same.
Home is my preferred place for death if any of my family is available.
In the spring of 2011 I completed and submitted the paper work necessary tofir an Anatomical Donation of my body in the event od death. This is held by the Anatomical Board of Nebraska; however, should I die in another jurisdiction anywhere this donation can be executed by any willing local board that has same intent.
It is my intent to post this Living Will to my blog at www.jdl3705.blogspot.com for reference if ever needed.
In the event that any terms or provisions of my Living Will are not enforceable or are not valid under the laws of the state of my residence, or the laws of the state/province where I may be located at the time, then all other provisions which are enforceable or valid shall remain in full force and effect, and all terms and provisions herein are severable.
IN WITNESS WHEREOF, I have read and understand this Living Will, and I am freely and voluntarily signing it on this June 25, 2011 in the presence of witnesses.
Signed: James D Lynch
Street Address: 3705 S 112th Street County: _____Douglas_________________
City and State: Omaha Nebraska, 68144
Thursday, April 29, 2010
More on Immigration Reform
If you are like most Americans, when you fill your tank at a gas stations and pay with a credit card it only takes a few seconds for the card to be authorized and payment completed. Even while you are days away from your home a minimum additional input of your zip code can be quickly imputed to confirm a high probability that you indeed own the card submitted. This control feature is highly successfully administered by the private sector. So why couldn’t the same concept work in monitoring and controlling guest workers as well as all Americans with a tamper proof Identification card. It could be in the form of a temporary guest worker permit, Drivers license or social security card. The most important aspect would be that the data base that contains that digitized verification data would be under the control of a quaisi governmental or private entity and not the federal government. This to me would be the most important feature of an acceptable immigration reform bill.
The next crucial feature would require all currently undocumented workers to get in line in their respective countries of origin. The only ones who could get to the head of the line would be those who carry a letter confirming that they have work waiting for them by an employer who currently has work for them. Our State Department could set up in embassy offices (or outsource the function to private employment agencies) where the paper work could be completed in accordance to the reasonable regulations.
The third feature of a good bill will enable or empower the states with a roll as the States are the best judges of the needs for workers and they should be given the responsibility of setting the numbers of guest workers needed, Then they should also have the responsibility of tracking these guess workers and making sure they depart upon expiration of their guess worker permit. This would limit the guest worker to the state of sponsorship which could also accept transfers to another state wishing to accept him. The states should be compensated either directly by employers or a surcharge on the income tax or unemployment tax under their jurisdiction. (Let them decide).
Forth element is to have licensed bounty hunters who would be authorized by the US Marshall’s office with a capture fee. This fee would be a flat amount of $250 per head and $ 2.00 per hour for each conscription hours that an undocumented individual would be sentenced. The fine would be a minimum of six months hard labor with compensation paid that would equal the minimum wage of their country of origin. The states could assign these inmates to work for private entities at amounts above the wage set and conscription fee to recover their cost of providing room and board.
These four provisions abbreviated above do not address all the problems and injustices of our current immigration fiasco but are essential for creating a workable solution of an ever out of control problem.
The next crucial feature would require all currently undocumented workers to get in line in their respective countries of origin. The only ones who could get to the head of the line would be those who carry a letter confirming that they have work waiting for them by an employer who currently has work for them. Our State Department could set up in embassy offices (or outsource the function to private employment agencies) where the paper work could be completed in accordance to the reasonable regulations.
The third feature of a good bill will enable or empower the states with a roll as the States are the best judges of the needs for workers and they should be given the responsibility of setting the numbers of guest workers needed, Then they should also have the responsibility of tracking these guess workers and making sure they depart upon expiration of their guess worker permit. This would limit the guest worker to the state of sponsorship which could also accept transfers to another state wishing to accept him. The states should be compensated either directly by employers or a surcharge on the income tax or unemployment tax under their jurisdiction. (Let them decide).
Forth element is to have licensed bounty hunters who would be authorized by the US Marshall’s office with a capture fee. This fee would be a flat amount of $250 per head and $ 2.00 per hour for each conscription hours that an undocumented individual would be sentenced. The fine would be a minimum of six months hard labor with compensation paid that would equal the minimum wage of their country of origin. The states could assign these inmates to work for private entities at amounts above the wage set and conscription fee to recover their cost of providing room and board.
These four provisions abbreviated above do not address all the problems and injustices of our current immigration fiasco but are essential for creating a workable solution of an ever out of control problem.
Tuesday, March 23, 2010
Let The Second Revolution Begin
While the attorneys in our midst plan an attach over the “obamacare” fiasco using the courts as their weapon of choice. I am advocating herein a second alternative to turn the tide of galloping socialism. (Previously known as “creeping socialism”). Hopefully if either of these first two approaches works we will not have to use the ultimate tactic of civil armed revolution.
My suggestion is to use Uniform Legislation with the aim of starving the federal government. A good source for understanding this approach is the link below. http://www.law.cornell.edu/uniform/uniform.html
The legislation I suggest is already in a form that can be quickly modified to achieve our ends. It is known as HR 24 “The Fair Tax”. Once A state has adopted this legislation their citizens and any business entities profits within these borders would be exempt from federal income tax. The only two services that are needed from the federal government are National Defense and State Department activities. Both of these federal divisions could be funded on a per capita basis based upon a running five year average of the departments initionally. The federal debt likewise could be frozen and a per capita assessment would be assessed to liquidate. All federal properties within the borders would be turned over to the states for their respective management and use.
Each state could modify their tax rate and monthly prebates as their own social tendencies dictate. The people who reside within their borders will either collectively through the voting booths prevail with common sensical regulations and laws or with their feet find a state more in line with their beliefs and values.
I realize that the above idea will need a lot of scrutiny and enhancement. But I have confidence in my motto that “ideas beget better ideas” and perhaps someone who comes across this paper will take hold of this idea and run with it. I for one am tired of preaching my conservative message as I see only regressive declination in the younger generation that follows. I was blessed with an education that taught me how to think on my own and appreciate traditional values. Evidently the institutions of learning that shaped my consciousness have all choked on their own liberalism.
My suggestion is to use Uniform Legislation with the aim of starving the federal government. A good source for understanding this approach is the link below. http://www.law.cornell.edu/uniform/uniform.html
The legislation I suggest is already in a form that can be quickly modified to achieve our ends. It is known as HR 24 “The Fair Tax”. Once A state has adopted this legislation their citizens and any business entities profits within these borders would be exempt from federal income tax. The only two services that are needed from the federal government are National Defense and State Department activities. Both of these federal divisions could be funded on a per capita basis based upon a running five year average of the departments initionally. The federal debt likewise could be frozen and a per capita assessment would be assessed to liquidate. All federal properties within the borders would be turned over to the states for their respective management and use.
Each state could modify their tax rate and monthly prebates as their own social tendencies dictate. The people who reside within their borders will either collectively through the voting booths prevail with common sensical regulations and laws or with their feet find a state more in line with their beliefs and values.
I realize that the above idea will need a lot of scrutiny and enhancement. But I have confidence in my motto that “ideas beget better ideas” and perhaps someone who comes across this paper will take hold of this idea and run with it. I for one am tired of preaching my conservative message as I see only regressive declination in the younger generation that follows. I was blessed with an education that taught me how to think on my own and appreciate traditional values. Evidently the institutions of learning that shaped my consciousness have all choked on their own liberalism.
Sunday, January 31, 2010
Corporate Tax Reform
At the risk of sounding like a liberal, I am advocating a major overhaul of our corporate income tax system with some minor changes to our individual tax system. Recent history of corporate growth has demonstrated that failure of Corporations can have a devastating effect on all stakeholders, thus the notion of too big to fail. The solution I advocate is to encourage some of them not to exist.
The affairs of state should be financed by all and accordingly be borne proportionately to each entities means or abilities. Think of a small town or city living on a river bank when a devastating flood is imminent. Would you not expect every able body to help with a new dyke. Would not the 250 pound muscular football player be expected to fill more and bigger sandbags than the feeble elderly wheelchaired or infant child. This is why we have a progressive tax system and hopefully will remain so for some time as long as both sides of the equation are fair and not too cumbersome. Our income tax system has generally followed the simple formula of I x R = T (Income times Rate equals Tax). The clearest part of the formula for both Corporate and Individual tax is the Rate side and only requires a few pages in the tax code. The complex side is the “I” side. Volumes of codes are expended here and inconsistencies further included as the “soak the rich” crowd inflict their disdain for prosperity.
Currently, federal tax revenues come from Individuals about 79% Corporations 19% Estate taxes 1%. Within the 79% individual portion there is an undetermined percent attributable to sole proprietors and Subchapter S Corporations. I see no reason to change this overall distribution burden but we need some long term tinkering that would help economic growth and fairness. However, the current provisions for the alternative minimum tax for both corporations and individuals should be eliminated.
My Suggested Corporate Brackets
Bracket Over But not Over The Tax Is Of the Amount Over
1st $0 $500,000 5% $0
2nd $500,000 $5,000,000 $25,000 + 15% $500,000
3rd $5,000,000 $25,000,000 $700,000 + 25% $5,000,000
4th $25,000,000 $100,000,000 $5,700,000 + 40% $25,000,000
5th $100,000,000 $1,000,000,000 $35,700,000 + 55% $100,000,000
6th $1,000,000,000 $530,700,000 + 70% $1,000,000,000
Present Corporate tax brackets:
1st $0 $50,000 15% $0
2nd $50,000 $75,000 $7,500 + 25% $50,000
3rd $75,000 $100,000 $13,750 + 34% $75,000
4th $100,000 $335,000 $22,250 + 39% $100,000
5th $335,000 $10,000,000 $113,900 + 34% $335,000
6th $10,000,000 $15,000,000 $3,400,000 + 35% $10,000,000
7th $15,000,000 $18,333,333 $5,150,000 + 38% $15,000,000
8th $18,333,333 $6,416,667 + 35% $18,333,333
The proposed new definition of corporate taxable income would allow for the deduction of dividends paid to investors. At the same time all interest earned on federal securities would be exempt from taxation for all investors. This change would encourage a reasonable return of 2% +/- plus inflation rate on federal securities driven by a free market as opposed to an irrational discounted rate as is currently offered. Our debt would be less attracted to foreign investors who pay no taxes but this country should have the wealth to finance our own debt. Furthermore, the 70% exclusion of dividends should be ended except for wholly owned (or consolidated) corporations and those entities that required funded investments for ongoing long term liabilities or reserves for unearned premium and losses such as insurance companies or funded warranties. These changes would enable the dropping of the 35% excess accumulated earnings provision which is never enforced in the first place probably due to vast array of loopholes.
The proposed 4th through 6th brackets could be adjusted up or down once the Congressional Budget Office scores the over all impact on federal revenues The amounts within each bracket could be changed every 5th year based upon the cost of living index or inflation. If the above bracket system is adopted the following changes should occur as the business community understands the impact.
First, most Sub S corporations will elect (and should be allowed to immediately elect) to be treated as a regular (Chapter C) corporation.
Second most new jobs, innovation, research come from the small and medium size companies who are in the first four brackets, Generally the management in these companies understand their products, processes and service far better than the super large multinationals and can react to change much quicker as the latter group become too bureaucratic and as governmentally inflexible. Some of this group like GE liken themselves as partnering with the world governments. Business has to have confidence that reasonable regulations and tax policy will continue not only in the current administrations but beyond before committing to expand the workforce and to make capital commitments. When this confidence resumes in our capitalistic sector unemployment will shrink to the lowest level realistically expected.
Thirdly, the stockholders and directors will, see that spinoffs of unrelated activities is in the best interest of all stakeholders. Just as the breakup of AT&T resulted in many new successful enterprises even while letting the weakest new entities like Agere and Lucent fail, the results was an explosion of new consumer products and no bailouts or governmental recues were required.
Fourthly, corporate governance will start thinking long term again instead of quarterly results. Sadly, the powers that be in large corporations like GM convinced themselves that they could operate best by turning their workforce over to unions. Most successful new companies see the value of treating their employees well. They then try new approaches like automation first by studying the best practices of those like the Asian auto makers. They avoid unsound accounting practices like booking as an asset future tax savings from unrealistic operating loss carryovers. These companies do as little research as possible preferring to grab like vultures the assets of start up companies like Oni Medical Services, Inc (Maker of innovative MRI for extremities that will cost about 1/4th their own MRI). What is GE protecting? They surrender to political correctness as opposed to educating the public on products that will benefit society as a whole, while making big profits on both extremes (Wind and Nuclear energy)
Finally, companies like Berkshire Hathaway will on their own cease to exist. Mr. Buffet likes to stress that his secretary’s combined income and payroll tax rates is greater than his own. Indeed that is true, for his game through Berkshire is like a mutual fund that isn’t required to pass through to investors earnings and realized capital gains. His entity exist to accumulate wealth that will be passed on to the investor heirs or causes that they supports. Few jobs are created or consumer prices decline because of that kind of growth. Yes Berkshire does pay taxes about 29.7%, and his stockholders can use their investments with him as collateral for low interest loans if they have the need for leveraged funds. They do not pay taxes on Berkshire dividends as none are ever paid. The original founders of the small closely owned organizations like Nebraska Furniture Mart & Borsheims Jewlery will always be able to cash in by either going public or find other deep pockets willing to invest or even Employee Stock Ownership Plans (Peter Kiewit & Co) Burlington Railroad will not have to pay any dividends and I doubt if our nation will sees any reduction in fright cost due to this latest megapurchase.
The Estate and Inheritance taxes are about to expire in 2011. Some advocate that this tax should cease all together. I would prefer that it continue but with much higher exclusions for individual beneficiaries . Either index for inflation or using a multiple of 60 times the individual poverty level for each named beneficiary. Restricted Foundations should be limited to $10 Billion. Then the taxable estates should be taxed using the last three brackets of 40%, 55% and 70%. These funds would be ear marked to fund retired Medicare recipients who will need to be weaned from that ill begotten program and who start their own Medical Health Savings accounts by accepting 75% of average current Medicare Advantage plan contracted “subsidy”!.
On the individual side the same last three brackets should be applied to individuals whose income reached those levels. I am sure George Soros and his fellow hedging managers would not missed the tax or perhaps they would rather have the 91% bracket reinstated. Ownership of domestic corporations could be encouraged by allowing these savers to exclude dividends for the initial amount equal to the current poverty level.
The affairs of state should be financed by all and accordingly be borne proportionately to each entities means or abilities. Think of a small town or city living on a river bank when a devastating flood is imminent. Would you not expect every able body to help with a new dyke. Would not the 250 pound muscular football player be expected to fill more and bigger sandbags than the feeble elderly wheelchaired or infant child. This is why we have a progressive tax system and hopefully will remain so for some time as long as both sides of the equation are fair and not too cumbersome. Our income tax system has generally followed the simple formula of I x R = T (Income times Rate equals Tax). The clearest part of the formula for both Corporate and Individual tax is the Rate side and only requires a few pages in the tax code. The complex side is the “I” side. Volumes of codes are expended here and inconsistencies further included as the “soak the rich” crowd inflict their disdain for prosperity.
Currently, federal tax revenues come from Individuals about 79% Corporations 19% Estate taxes 1%. Within the 79% individual portion there is an undetermined percent attributable to sole proprietors and Subchapter S Corporations. I see no reason to change this overall distribution burden but we need some long term tinkering that would help economic growth and fairness. However, the current provisions for the alternative minimum tax for both corporations and individuals should be eliminated.
My Suggested Corporate Brackets
Bracket Over But not Over The Tax Is Of the Amount Over
1st $0 $500,000 5% $0
2nd $500,000 $5,000,000 $25,000 + 15% $500,000
3rd $5,000,000 $25,000,000 $700,000 + 25% $5,000,000
4th $25,000,000 $100,000,000 $5,700,000 + 40% $25,000,000
5th $100,000,000 $1,000,000,000 $35,700,000 + 55% $100,000,000
6th $1,000,000,000 $530,700,000 + 70% $1,000,000,000
Present Corporate tax brackets:
1st $0 $50,000 15% $0
2nd $50,000 $75,000 $7,500 + 25% $50,000
3rd $75,000 $100,000 $13,750 + 34% $75,000
4th $100,000 $335,000 $22,250 + 39% $100,000
5th $335,000 $10,000,000 $113,900 + 34% $335,000
6th $10,000,000 $15,000,000 $3,400,000 + 35% $10,000,000
7th $15,000,000 $18,333,333 $5,150,000 + 38% $15,000,000
8th $18,333,333 $6,416,667 + 35% $18,333,333
The proposed new definition of corporate taxable income would allow for the deduction of dividends paid to investors. At the same time all interest earned on federal securities would be exempt from taxation for all investors. This change would encourage a reasonable return of 2% +/- plus inflation rate on federal securities driven by a free market as opposed to an irrational discounted rate as is currently offered. Our debt would be less attracted to foreign investors who pay no taxes but this country should have the wealth to finance our own debt. Furthermore, the 70% exclusion of dividends should be ended except for wholly owned (or consolidated) corporations and those entities that required funded investments for ongoing long term liabilities or reserves for unearned premium and losses such as insurance companies or funded warranties. These changes would enable the dropping of the 35% excess accumulated earnings provision which is never enforced in the first place probably due to vast array of loopholes.
The proposed 4th through 6th brackets could be adjusted up or down once the Congressional Budget Office scores the over all impact on federal revenues The amounts within each bracket could be changed every 5th year based upon the cost of living index or inflation. If the above bracket system is adopted the following changes should occur as the business community understands the impact.
First, most Sub S corporations will elect (and should be allowed to immediately elect) to be treated as a regular (Chapter C) corporation.
Second most new jobs, innovation, research come from the small and medium size companies who are in the first four brackets, Generally the management in these companies understand their products, processes and service far better than the super large multinationals and can react to change much quicker as the latter group become too bureaucratic and as governmentally inflexible. Some of this group like GE liken themselves as partnering with the world governments. Business has to have confidence that reasonable regulations and tax policy will continue not only in the current administrations but beyond before committing to expand the workforce and to make capital commitments. When this confidence resumes in our capitalistic sector unemployment will shrink to the lowest level realistically expected.
Thirdly, the stockholders and directors will, see that spinoffs of unrelated activities is in the best interest of all stakeholders. Just as the breakup of AT&T resulted in many new successful enterprises even while letting the weakest new entities like Agere and Lucent fail, the results was an explosion of new consumer products and no bailouts or governmental recues were required.
Fourthly, corporate governance will start thinking long term again instead of quarterly results. Sadly, the powers that be in large corporations like GM convinced themselves that they could operate best by turning their workforce over to unions. Most successful new companies see the value of treating their employees well. They then try new approaches like automation first by studying the best practices of those like the Asian auto makers. They avoid unsound accounting practices like booking as an asset future tax savings from unrealistic operating loss carryovers. These companies do as little research as possible preferring to grab like vultures the assets of start up companies like Oni Medical Services, Inc (Maker of innovative MRI for extremities that will cost about 1/4th their own MRI). What is GE protecting? They surrender to political correctness as opposed to educating the public on products that will benefit society as a whole, while making big profits on both extremes (Wind and Nuclear energy)
Finally, companies like Berkshire Hathaway will on their own cease to exist. Mr. Buffet likes to stress that his secretary’s combined income and payroll tax rates is greater than his own. Indeed that is true, for his game through Berkshire is like a mutual fund that isn’t required to pass through to investors earnings and realized capital gains. His entity exist to accumulate wealth that will be passed on to the investor heirs or causes that they supports. Few jobs are created or consumer prices decline because of that kind of growth. Yes Berkshire does pay taxes about 29.7%, and his stockholders can use their investments with him as collateral for low interest loans if they have the need for leveraged funds. They do not pay taxes on Berkshire dividends as none are ever paid. The original founders of the small closely owned organizations like Nebraska Furniture Mart & Borsheims Jewlery will always be able to cash in by either going public or find other deep pockets willing to invest or even Employee Stock Ownership Plans (Peter Kiewit & Co) Burlington Railroad will not have to pay any dividends and I doubt if our nation will sees any reduction in fright cost due to this latest megapurchase.
The Estate and Inheritance taxes are about to expire in 2011. Some advocate that this tax should cease all together. I would prefer that it continue but with much higher exclusions for individual beneficiaries . Either index for inflation or using a multiple of 60 times the individual poverty level for each named beneficiary. Restricted Foundations should be limited to $10 Billion. Then the taxable estates should be taxed using the last three brackets of 40%, 55% and 70%. These funds would be ear marked to fund retired Medicare recipients who will need to be weaned from that ill begotten program and who start their own Medical Health Savings accounts by accepting 75% of average current Medicare Advantage plan contracted “subsidy”!.
On the individual side the same last three brackets should be applied to individuals whose income reached those levels. I am sure George Soros and his fellow hedging managers would not missed the tax or perhaps they would rather have the 91% bracket reinstated. Ownership of domestic corporations could be encouraged by allowing these savers to exclude dividends for the initial amount equal to the current poverty level.
Thursday, December 24, 2009
Is A tax Revolt Forthcoming?
I wonder what would happen, if all taxpayers file their own tax returns reporting all income as usual but include a new or additional form. This form would be a Schedule C showing business income or loss. However, the net would be a loss sufficently large enough to bring taxable income to ZERO! One might call his new company “Geitner Insolvency Group” Business Code 523900, He might be tempted to show income of Zero but deduct as taxes all taxes he paid or had withheld for the year. Then he might deduct as a Bad Debt all Social Security taxes he had paid in since he started working as an other deduction. (At the rate the socialist are going anyone under 55 mostlikely will never collect what was taken from them) I as a tax professional would never suggest this tactic to any of my clients , but I see how anyone who files their own tax return using the free e-file tax section of WWW.IRS.Gov might be tempted to do in that way. If one was so brazen as to try this they might also be smart enough to deposit those funds in a special account and have ready to access if feds storm in!>
The Change That Destroyed America
In four years from now, the Healthcare legislation that was passed by our legislators was like a patient getting a flue shot for H1N1 and pleased that he didn't become ill. However in 2013 he discovers that the shot was laced with the Ebola virus that gave him a cruel and agonizing death. The patient however was the USA whose electorate bought into an idiotic message of change.
Subscribe to:
Posts (Atom)