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Sunday, January 2, 2011

January 2, 2011, Bob Brinker's Moneytalk: Summary, Excerpts, and Commentary

January 2, 2011....Bob Brinker did not host Moneytalk today. Neale Godfrey was the guest host.

The major topic that Godfrey chose for Moneytalk was her proposal for a new Consumer tax -- in other words: A sales tax on everything we buy while doing away with the IRS.

Her plan would make sure that "poor people" are not hurt and would exclude those on food stamps from paying the sales tax -- at least on food and other necessities.

She would include the tax on homes, planes, boats and "large" cars. (Imagine a 20-30% tax added on to every home and car sale. Californians already pay almost 10% sales tax on cars!) Godfrey said she would exclude taxing "small cars."

She is for "really" taxing the upper income and actually said that the upper and middle incomes would be "picking up the whole tab for Social Security and Medicare."

In hour 3, Godfrey had a long discussion with caller Ron from Santa Cruz aboout politics. They both had a good time announcing that they were NOT for the Tea Party. Godfrey said: "I am not a "Teapartyist." Neither of them were specific in what they found objectionable about the Tea Party. Godfrey simply stated that she had "issues" with some of the things they advocate. (I'm quite sure that the Tea Party would have "issues" with some of the things Godfrey was advocating too.)

Caller Steve from El Paso pointed out how unfair a sales tax would be for those people who have worked and saved in IRAs, 401Ks etc. Godfrey replied by saying those kinds of accounts are "of course, sacred." (How's that going to work, ma'am? Are you saying the money that is taken out of IRA's won't be taxed? Or are you saying what is bought with money from IRA withdrawals will not be taxed?)

Caller Larry from Florida talked about the FAIR tax. Godfrey was aghast.

Caller Al asked Godfrey what were her "credentials" and had she "ever made any money." She explained that she is an "educator" who has written children's books.

Caller David from Iowa itemized his plans for creating income in his retirement. One of his plans was a first on Moneytalk. He said that he plans to donate blood plasma twice a week -- for which he will be paid $250 per month.

Godfrey sounds very surprised at first, but then made this comment: "If you could do this, it works." I wonder what Bob Brinker's response would have been. Just a guess, but I do not think he would have advised the caller to consider donating blood plasma as part of a retirement plan.

Most of the other callers were simply asking for sympathy and advice concerning dire real estate situations.

She pushed her website and is hoping to start a "grassroots blogging" movement to get her new tax plan rolling. But looking at the website, to me it appears to be mostly her views of the "ecology." Neale Godfrey echoaftereffect [link]

A quote from Godfrey's website: "Change a light and you help change the world." Honey replies: "You betcha." LOL!

Moneytalk is FREE and available on demand at KGO810 radio for seven days after broadcast.
The now once-weekly Sunday program is archived in the 1-4pm time-slots. You can listen, or download and listen at your leisure. KGO: Moneytalk Download

Jeff_S took these pictures. Yosemite Falls before the snowfall:

After the snowing started:


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