The State of Washington, has attempted over the years any numbers of ways to increase taxes.  Just yesterday the sales tax increase went into affect for Sound Transit.  A King County resident can expect to pay 9.5% sales tax now on most purchases (food excluded, of course.)

Now hear me out: sales tax revenue grows with general inflation – so theoretically the increasing costs of government are compensated for by the fact that the cost of goods is going up, resulting in higher tax revenues.  Add to that scenario that the population is constantly growing, and revenues on a natural basis continue to go up (likewise the demand for government services goes up.)  To me, it seems, like we have a natural balance here.

So, what irritates me about taxes is once they start, they DO NOT STOP, and they continually get bigger and bigger.  I can remember when sales tax was about 5.5% – so what has that additional 72% increase in sales taxes done for us?  I’m not sure!

The article below talks about a income tax on the ‘wealthy’ of “just” 1%.  Yeah, right – first off – 1% will start to go up, and more importantly, what was “wealthy” today will be tomorrow’s upper middle class!

I guess I can understand the legislature’s predicament – and the need for revenue – but why can’t government plan and “save” money for emergencies?  We had a rainy day fund, but it was a fraction of the billions needed to balance the budget.  We need to change the way we run government in this state and actually build reserves for the times we need it.

Washington State voters – think twice before you open this box – once that “tax bug” escapes there will never be a repeal – and, yes, it will grow in size and scope!

Politics | Key senator working on state income-tax proposal | Seattle Times Newspaper

OK I think we’re all used to the Nigerian “scams” that we hear of from time-to-time.  You know, those situations where the relative has died, and they need your help getting the estate (money) moved?  I think there is one where you cash the check and send them the cashier’s check – only to find out later that the check you got was bad?  The common denominator is always the same, some uninformed consumer trying to “help” someone out.

So the story linked-to below is just too hard to believe – but it involves an institution we are supposed to trust.  Citibank, one of the nation’s largest banks.  Apparently a gentleman from Nigeria conspired with others to create false documents so convincing that Citibank would follow the instructions and begin wiring money all across the globe, as a result of a request from the National Bank of Ethiopia.  I’ve included a picture of the poor victim – NB of E.

Now I understand consumers, with little education, might be tricked into one of these frauds – but the “victim” here is Citibank.  Now I don’t know the last time you ever tried to wire money from you personal account, but having done so on at least one occasion within the past few years, AND having worked at a bank myself, I can tell you that banks are skittish about wiring money.  Why?  Because once it’s gone, it’s gone!

Two interesting tidbits to ponder as you consider the story:

1. This fraud was detected, not by NB of E or Citibank themselves, rather it was by some of the wire receiving banks (banks of the criminals) who, apparently, couldn’t complete the wire because the information they had was incomplete (e.g., they couldn’t figure out what account to put the money in.)  Thank God for dumb criminals!
2. At the end of the story, it mentions that Citibank has “credited back” the “lost funds” to NB of E.  OK, I would hope so, Citibank made the mistake!  Of course, what they don’t say is how much Citibank ultimately “lost” … because wires are wires… and although legally they might be able to seize the accounts of the fraudsters… it won’t be automatic or assured (is the money even still there?)

So for everyone out there wondering why banks need bailing out – here’s another one.  They can’t even verify that wire transfers that exceed $25 million are really authorized.  Now you know how those “risky” loans got made! 

Nigerian Accused in Scheme to Swindle Citibank - NYTimes.com

I guess, if I’m desperate, there’s hope!  Someone is hiring: (They sure do look like a happy group!)