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'Wall Street's Worst Bet Since The Bet On Subprime',[link widoczny dla zalogowanych]
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HuffPost High School welcomes a lively,[link widoczny dla zalogowanych], thoughtful debate in the comment section. Of course, it's a delusion, but it's one they'll happily continue to believe. The "trickle down theory" has been proven to be an economic disaster of monumental proportions. Their answer? We simply didn't lower their taxes by enough to make it work.
I really hope that President Obama will stand his ground and start changing things. What the wealthy view as "redistribution" is, in fact, nothing more than taxing wealth at appropriate levels. Capital gains is nothing but income,[link widoczny dla zalogowanych], ordinary income. Tax it as such. Eliminate all this moving of money from country to country to save on taxes. If it's sold in the US, it's taxed in the US, the profits are deemed to have been generated in the US, period. No excuses.
We need to start rolling back the ludicrous deductions. As a small business owner, I can only deduct the cost of, at most, business class airfare when I travel. Yet they can buy a 50+ million dollar private jet and deduct it? Nonsense. Let them deduct only the cost of business class airfare for each company employee,[link widoczny dla zalogowanych], excluding the flight crew, that makes a trip on the jet. The cost of the jet, the crew and all other expenses are non-deductible.
We're tired of subsidizing the wealthy as they screw America.
This article is just mind boggling to me. I can't figure out why economists can't seem to understand that maximizing profits for the corporate owner is not necessarily the goal that is best for the economic health of society. Don't any of them even consider the devastating effect of re-introducing slave labor into the "free market?" Just because that slave labor is overseas,[link widoczny dla zalogowanych], they think it must be not only legal, but sound fiscal policy? Do they have any concept of how this affects the American middle class, which has spent generations of hard work to build our industrial might? Do they understand that if we have to compete with Chinese peasants, who have no collective bargaining rights, then we will be competing for the same quality of life that they have, after decades of oppression by their government? If we ship America's middle class jobs overseas to be performed by peasant labor for less than $1 per hour, does anyone understand where that leaves the American middle class? The corporate owners (including share holders) will be the only source of revenue if it continues. Why do venture capitalists who outsource think they are doing good?
Slave labor has returned to the U. S. as well in the form of "for profit" prisons. Manufacturing, call centers, etc. are now being staffed by inmates for ridiculously low wages. Initially, these prisons could only do work that benefited the government but recently the laws changed allowing them to contract their services out to private businesses. This is a disaster in the making. Corporate greed will increase the demand for this cheap labor and workers have to be supplied to accommodate them somehow.
*** But what [President Obama] doesn't have at all is a belief that the pure fact of having made a lot of money makes your views more valuable, or makes you more interesting or smarter than anyone else. ***
That's consistent with much of what I've read about him,[link widoczny dla zalogowanych], from other venues and in other articles.
***As I read it, much of the fight between Obama and these financiers is the fight between the Ivy League kids who turned away from the money and went into do-goodery professions like community organizing and their roommates who went to Goldman Sachs and have always felt resentful of both the implied and explicit verdict that they sold out.*** -- Ezra Klein
Been there,[link widoczny dla zalogowanych], done that,[link widoczny dla zalogowanych], lived it, and . yeah,[link widoczny dla zalogowanych], EK, you sorta nailed that one.
I'd add that Scott Brown was Wall Street's worst bet since Romney,[link widoczny dla zalogowanych].
"The big Romney backers. were all flying into Logan Airport for the victory party. There's this stunned feeling of how could we be so wrong,[link widoczny dla zalogowanych], and a feeling of alienation."
News Flash to Wall Street: Wall Street and Main Street are two very different streets and Wall Street is as out of touch with Americans as Romney, Scott Brown, Rove, Norquist, the Koch's and the GOPTea are-which is why Romney/Wall Street and the GOPTea lost BIG TIME despite the billions of dollars spent to defeat President Obama and the Democrats.
-The House Democrats received more votes than GOPTeas,[link widoczny dla zalogowanych].
-The Senate has added more Democrats and more Liberal women than ever in its history.
-The White House stayed with President Obama.
-There is talk of recalling Sec,[link widoczny dla zalogowanych]. of State John Husted in Ohio for his voter-suppression,[link widoczny dla zalogowanych].
-There is talk of Independent Charlie Crist running for Gov. of Florida because he could easily defeat the highly unpopular GOPTea Gov. Scott.
-Many GOPTeas are now abandoning the sinking Norquist ship…
Everything Romney/Ryan and the GOPTea stood for-voter-suppression, taking away the rights of women, workers, unions, Latinos and the LGBT community; defunding Planned Parenthood; abolishing Medicare, Medicaid, Social Security, the Dept. of Education and the EPA; lowering taxes even more for the wealthiest, raising taxes on the middle-class, cutting 2.1 million jobs-all of that was rejected by the American people.
And BTW, wake up Wall Street and smell the regulations-Elizabeth Warren is now a Senator!!
The very wealthy in this country are for the most part born on third base and think they hit a triple,[link widoczny dla zalogowanych]. Private schools private colleges no military service and usually no public service. Untouchable in school because of family. Appointments to executive jobs where somebody else makes decisions and somebody else does the work and success is handed to them by virtue of their dna. How rare is it that they meet a plumber or painter. Is there ever a reality where their bodies are worn from a day's work? It's not the same as a day's play at polo or skiing. The guy who lives on investment should be valued more than the guy who repairs the MRI machine?
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