A good read I found today
bronco2078
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This was on zerohedge . Regular people are the same as they always were its the governments and bureaucracies that are burying us .
our institutions are crumbling
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This was on zerohedge . Regular people are the same as they always were its the governments and bureaucracies that are burying us .
A friend who is a pretty smart guy told me a couple years ago that people don't change, situations do!
As of 2011, Corporate CEO's made 340 times what the average worker made. What makes them worth that kind of money? I watched a handful of episodes of the television program, “Undercover Boss.” Dear lord! Most of them were completely out of touch with the reality of their businesses and could not even function in entry level jobs in their own companies. In 1980, CEO pay was only 42 times more than the average worker, but they managed to get by. I believe a university professor should earn a comfortable living. But then, I also believe that an apprentice hod carrier should earn a comfortable living, as should a fireman, or a retail clerk, or a cobbler. They used to. When you have college football coaches and administrators earning in the millions while professors rarely make 6 figures, things have gotten out of hand.
I've said all along, bring back the tax rates of the 1950s when the top tax rate was over 90%. You ended up with a booming economy, stock market, and expanding middle class. It's easy to see why, despite the yelling that higher taxes kill the job creators. There's no incentive to provide ever exorbitant pay at the top when the majority of it would go to taxes. Instead, they took that money and paid better wages, expanded their businesses, modernized their equipment, or paid dividends to their stockholders. Instead, our historically low tax rates at the top have contributed to ever expanding top level pay and bonuses that they usually EARN...I said earn sarcastically....by cutting wages, benefits, employees, hours of employees back to part-time, etc., and force the remaining to do more with less, all so they can pad their own pockets.
Here's another article for you.
Truth about the history of tax rates from the business insider
The economy was not booming because of high taxes. It was booming because of global rebuilding after WWII and a global baby boom.
Knowledge is the enemy of fear
<< <i>1950s when the top tax rate was over 90%. You ended up with a booming economy, stock market, and expanding middle class
The economy was not booming because of high taxes. It was booming because of global rebuilding after WWII and a global baby boom. >>
Isn't funny how the lowest top tier tax rates precede the worst economies then. All's hunky dory for awhile, and then BOOM.
<< <i>
<< <i>1950s when the top tax rate was over 90%. You ended up with a booming economy, stock market, and expanding middle class
The economy was not booming because of high taxes. It was booming because of global rebuilding after WWII and a global baby boom. >>
Isn't funny how the lowest top tier tax rates precede the worst economies then. All's hunky dory for awhile, and then BOOM. >>
That's not quite the cause and effect. What happens is that the booming economy requires less tax receipts so tax rates are lowered. Of course the good times can't last so eventually the economy slows and tax receipts fall. Deficit spending then occurs because no one wants higher taxes.
Increasing taxes on the 1% won't solve the problem, but I believe each member of that group would have no problem paying more tax as long as the money was spent on productive programs, rather than wasted on buracracy as is so often the case.
Knowledge is the enemy of fear
Tax rates don't annoy me as much as the corruption that pervades everything government is involved in. I was stuck in traffic yesterday because they were working on a traffic light at an intersection on the road I was on. When I reached the light I see there are 7 men there. One guy in a bucket truck turning a screwdriver on the light itself and 6 just standing there rubbernecking.
Collect money from me send it through 5 levels of bureaucracy then use it to pay 7 guys to do a 2 man job . Meanwhile all of us in the private sector are finding ways for 7 guys to do the work of 10.
All the tax money that gets sent to washington gets dumped in a trough and 10 different layers of cronies gorge on it before it trickles back to the states that collected it.
Astute readers should note, "Paragraph 26: “By leaving behind substantial unsecured liabilities and stockholder equity in the receivership, assets transferred to the bridge holding company will significantly exceed its liabilities, resulting in a well- capitalized holding company.”
Translation: when the bank fails your unsecured debt is wiped out and they use your money to start a new bank without liabilities. And, you think it can’t happen here? This is the plan.
It's exactly what QE currently is being used to do. It has nothing to do with any kind of stimulus, except to stimulate banker's bonuses.
I knew it would happen.
Here are 2 more articles about the trust issues we should have with our government relating to the housing crisis.
foreclosure relief ? about $300
So auditors that charge $1500 an hour to look at records are going to recommend settlements of $300 for affected homeowners?
The other is the issue of MERS , which made all these wonderful mortgage backed securities possible.
banks were able to overturn rules of private property and cut local government out of the loop
Money mixed in politics are the root of all of it. The fiat money thats created from thin air is much easier to spread around than a gold backed currency that is actually scarce .
Fiat enables corruption in the same way it has enabled warfare . Those that spend it know they can just make more whenever they want.