Harris Sherline is a retired Certified Public Accountant and executive. His diverse business background includes experience as a partner in a public accounting firm, as a principal in a number of business ventures and as CEO of a hospital. His conservative commentaries appear weekly in two Santa Barbara newspapers. In addition, his op-ed articles currently appear regularly on three widely read web sites and his own weblog,
Opinionfest.com.
The torrent of information and knowledge that’s beamed at us by the media and over the Internet has also brought with it the curse of overload and misinformation.
Commercials that push cleaning agents imply that we are all at risk of being infected by some awful disease if we don’t use their products. But, if that were true, how is it that man has survived all these years without them? Can it be that we really don’t need the cleansers that kill 98.5% of all the germs on the surfaces which they are used to clean?
Pharmaceutical manufacturers push prescription drugs as if they are selling health foods. Buy their products and avoid the terrible consequences of just about every disease or ailment known to man, most of which we never knew existed.
If taxing the rich is the way to provide benefits for the poor and low income workers, why don’t we simply confiscate the assets of the wealthiest among us, say just the billionaires. After all, they really don’t need to live such opulent lifestyles, with private jets, mansions, yachts, etc. If you think that’s a good idea, consider this: According to Forbes magazine, the 400 richest Americans have a combined net worth of around $1.25 trillion. So, how effective would it be if their “excess” net worth were taken for the good of society? A little simple math gives us a clue:
1) The proposed U.S. federal budget for the 2009 fiscal year is about $3.1 trillion. If we were to confiscate the entire wealth of America’s 400 richest citizens (278 of whom are billionaires), it would pay the cost of operating national the government for only about 147 days.
Extending the analysis a bit further, if the entire net worth of the two richest Americans, Bill Gates at $48 billion and Warren Buffett at $41 billion, were confiscated, it would only pay the cost of running the government for a little over 10 days.
2) The proposed 2009 federal budget is projected to have a deficit of $407 billion. If we expropriate just enough money from the 400 richest Americans to cover the shortfall, it would be about one-third of their combined net worth.
3) Instead of confiscating the net worth of America’s richest citizens, how about taking the earnings of some of the nation’s most profitable companies to fund the government or to cover the budget deficit? The Fortune 500 list of the most profitable businesses noted that the top 20 companies had combined net earnings (after taxes) of $266.21 billion. However, that’s only enough to run the federal government for about 26 days. Even if we confiscated their total combined earnings, it would still only fund a little over 55% of the projected 2009 budget deficit.
Why is it that since President Lyndon Johnson declared War on Poverty in 1964, the federal government has spent between eight and ten trillion dollars on the effort to eradicate poverty, but the number of Americans who are considered poor is still approximately the same as it was over 40 years ago?
Has the War on Drugs been successful? The Drug War Clock (www.drugsense.org) offers the following information (as of May 18, 2008):
1) Money Spent on the War on Drugs this year: Federal, $7.685 billion; State, $11.797 billion; Total, $19.483 billion. “The U.S. federal government spent $19 billion dollars in 2003 on the War on Drugs, at a rate of about $600 per second.”
2) “Arrests for drug law violations in 2008 are expected to exceed the 1,889,810 arrests of 2006…Someone is arrested for violating a drug law every 17 seconds.”
3) “Police arrested an estimated 829,625 persons for cannabis violations in 2006, the highest annual total ever recorded in the United States, according to statistics compiled by the Federal Bureau of Investigation.”
4) Since December 31, 1995, the U.S. prison population has grown an average of 43,266 inmates per year. About 25 percent are sentenced for drug law violations.”
Why do we continue this War? There must be a better way.
The California Supreme Court recently ruled that same sex marriage is a constitutionally protected right in the state. Does that mean polygamy is or should also be a right? Commenting in the Sacramento Bee, columnist Dan Walters noted, “…declaring that one is free to marry whomever one chooses makes it at least conceivable that plural marriages – polygamy – could be equally valid.”
© 2008 Harris R. Sherline, All Rights Reserved
NOTE: Read more of Harris Sherline’s commentaries on his blog at “opinionfest.com.”
- Related Videos
- Related Articles
- Ask / Related Q&A




Is The World Getting Odder?
By: Knight Pierce Hirst | 15/11/2009The dictionary defines odd as peculiar or eccentric. However, like pop tarts, Pet Rocks and Segways, what's odd often becomes common.
The End of the World 2012 - Have We Been Conditioned For it?
By: Jamie Haas | 13/11/2009The End of the World 2012, and thinking back to wonder if we were somehow conditioned for the idea of it. I believe that those movies like Mad Max, Road Warrior were terrific action movies, I also liked That movie with Robin Williams and Walter Mathou 'The Survivors.' It was hilarious and deep.
In the Quran: They said: O Moses! Make for us a god to worship
By: Prof.dr. Ibrahim Khalil | 13/11/2009The Noble Quran says that Allah brought the Children of Israel across the sea, and they came unto a people who worshipped idols. They said: O Moses! Make for us a god to worship, an idol for us to worship, just as they have gods.
Japanese Translation Workers Celebrate Emperor Akihito Reign
By: The Marketing Analysts | 13/11/2009This week will mark the twentieth anniversary of Emperor Akihito, the emperor of Japan’s reign. At his ceremony, Japanese Translation workers indicated that emperor stressed the need for citizens to continue to seek world peace.
What Can Make Living More Livable?
By: Knight Pierce Hirst | 12/11/2009The dictionary defines living as being alive; having life. However, what that life is like depends on an individual definition.
2012 Secrets - Secrets of 2012 Revealed
By: William Ansac | 12/11/2009It seems like everybody has a different story about the 2012 secrets, but could it be just a hoax meant to make people go crazy? The secrets of 2012 are finally revealed!
Are All Winners Created Equal?
By: Knight Pierce Hirst | 11/11/2009The dictionary defines winner as one who gains a victory. In 2009 anyone who gets through the day with a positive attitude is a winner.
Giving More Respect for the Elderly - A Changing World and Generation
By: Jared Wright | 11/11/2009The world is becoming a more and more cruel place and Darwin’s theory of Survival of the Fittest seems to be more true these days than it ever was. Everybody is chasing an unreachable goal of more power and more money. If you can’t keep up, you are left alone in the dark.
Solving the Health Care Dilemma
By: Harris R. Sherline | 10/06/2008 | Politics...the flip side of unlimited demand is a shortage of supply. And, not having enough doctors, nurses, or expensive equipment, such as CAT Scans and MRIs, eventually leads to rationing. Without enough health care to go around, rationing becomes a necessity. That has been the failing with nationalized health care in England, Canada, Germany, Japan, the former USSR, everywhere it has been tried.
Who’s the Boss?
By: Harris R. Sherline | 10/06/2008 | Human ResourcesExtreme caution must be exercised in almost any employee-related matter lest we run afoul of the law and draw a discrimination lawsuit of one sort or another. And, the amount of time, effort and energy that’s expended (read wasted) for that purpose often diverts management’s attention from conducting the business of the firm, at considerable loss of time and money.
Observations
By: Harris R. Sherline | 10/06/2008 | CultureRandom thoughts about a variety of issues.
“neither a Borrower Nor a Lender Be.”
By: Harris R. Sherline | 01/06/2008 | EconomicsDavid M. Walker, Controller General of the United States, has been speaking around the country for over two years, delivering the message that the U.S. is rapidly going bankrupt.
Are We Schizo or What?
By: Harris R. Sherline | 01/06/2008 | CultureIt’s little wonder that there are so many problems in America today when there is such contradictory, schizophrenic behavior in our society.
Who Said It?
By: Harris R. Sherline | 01/06/2008 | CultureAlexis de Tocqueville's prescient observations are as valid today as they were over 170 years ago and, from the vantage point of having visited here so early in our history, it’s truly remarkable how accurate his conclusions about the contemporary American character and system of government were.
Pushing Drugs
By: Harris R. Sherline | 01/06/2008 | MedicineA survey of family physicians found that 71 percent felt DTC (Direct To Consumer) ads pressure doctors into prescribing drugs that they would not normally prescribe.
Money Talks
By: Harris R. Sherline | 29/05/2008 | PoliticsIt’s obvious that the failure to regulate campaign finance certainly is not for lack of trying. The theory generally seems to have been that if we could just get money out of the equation, the political process would somehow eliminate corruption and favoritism.