Karen Heller: Gandhi had a word for today

Are you having fun yet? Me, neither! Living in these current economic times is akin to being a domino. At any moment, it feels as though something or someone, the slightest wind even, might knock you over. And good luck with that getting-up business.

This week, President Obama counseled, "Buying stocks is a potentially good deal, if you've got a long-term perspective on it."

Oh, really? Would that be soon-to-be penny stocks like GM or Citigroup? A share of the former now costs less than a gallon of gas, while the latter trades lower than its ATM charges.

"It is the fundamental law of Nature, without exception, that Nature produces enough for our want from day to day and if only everybody realizes this and takes nothing more, there would be no pauperism in this world, there would be no man dying of starvation in this world."

Gandhi wrote that. On Thursday, the steel-rimmed glasses, sandals, pocket watch, bowl and plate - five objects in all - once owned by the pacifist who preached simplicity sold at auction for $1.8 million to an Indian mogul who owns racehorses, race cars, a yacht and Kingfisher beer.

This teaches us that simplicity sells and beer is great. Also: Nature adores an auction. For those doing the math, GM $1.45, Citigroup $1.03, Gandhi $1.8 million.

Money was much on the minds of the mayor, his cabinet and half of Council when they assembled this week to discuss services and costs based on surveys of city residents and government employees.

"Cutting the $1 billion wasn't easy, and finding the second billion won't be any easier," Mayor Nutter said in a masterful understatement. I kept looking at his talented, expensive cabinet and thought of how its members must tire of always cutting, never adding, taking so many trims to the budget as though it were a Marine recruit.

Residents wouldn't mind an increase in taxes to maintain services, according to surveys, although concepts are generally more enticing than reality. So the administration is mulling all sorts of taxes, though we may still end up with fewer services. Instead of a tax-and-spend policy, we have tax-and-cut.

The city's record on property-tax collection is lousy; a half-billion dollars has gone missing. The mayor said those folks are gone or dead. We should get over this. Hah! We're Philadelphians. We don't get over things. We're maestros at indignation.

The city has another fairness problem. Only 3 percent of properties are properly assessed, according to an Inquirer investigation. Administration officials plan to fix the problem, but not in time for this budget cycle. They may overhaul the assessment system next year - though, gee, it will be one year closer to the next mayoral election.

This is just a hunch, but increased property taxes aren't going to go over well with those residents already paying disproportionately high taxes compared with many residents of Center City, the magic kingdom of tax abatements.

So, the hallmarks of our city property taxes are that they're inequitable, uncollected and - soon! - escalating.

Sounds like a winning marketing and election strategy, while making residents feel brilliant for remaining in the city to pay so much more for possibly less.

Know what's great about our current economic situation? Everyone feels poor. Especially the rich, who have lost so much more than those of us who forgot to accumulate vast wealth.

A garbage economy is the great equalizer. We live, if nothing else, in astonishing times.

"Let there be no distinction between rich and poor, high and low."

Gandhi wrote that, too, never knowing that his sandals, bought with beer money, would be worth so much more than GM stock.

Then again, this may just be Nature doing its admirable job.