“No, not like Solyndra. Like SunTech and Solar City.
I used to be a Milton Friedman fan, in the 80's, until I matured. You should try it.
My solutions indeed perpetuate a redistribution to counter the current redistribution of wealth to the rich. Glad you got that. That is our only hope. You do of course know that all depressions are preceded by taxing the rich less, right? The rich do not HAVE to spend. They have the option of spending. Average people do not have that option, so when you put more money into the hands of the average, they spend it, thus fueling the economy. I would think you knew that.
When you raise Cap gains you reduce revenues from those activities? You can reduce revenues from Cap gains? I think you mean you reduce revenues from the businesses, but I can only guess, since that's not what you said. If that's what you're saying, so be it. My idea of taxing the rich more is not in the dustbin of history. Western Europe does it and has done it since the end of WW2. Most of Western Europe has done quite well during that time, up until the current economic problems. And they provide healthcare and education for their people as well. How can they do that and we "cannot"…….(actually "will not" is the correct wording). Why is that?
“Now that they lost 10 billion, turn it over to someone else. She will do better.”
Kenny99 on Dec 10, 2013 at 16:28:47
“She was the head of product development, which designs the cars. If they didn't sell enough cars, and that cost the government $10B, she would be largely responsible for it.
However, she is a known commodity and part of the fabric of what they have been doing for decades. Hence, probably little to nothing much will change at GM. Their cars will still be boring and undesirable compared to just about everyone else's - with the possible exception of Cadillac.”
imusintheevening on Dec 10, 2013 at 11:59:58
“GM did not lose $10 billion.
The US Treasury said from the beginning that they would exit on a planned basis and not try to game the market for a profit. Overall, however, Treasury HAS made a profit on the money it provided to TARP and the bailouts.”
“The bailouts were under Bush. Keep blaming Bush for everything. He was evil. And stupid. And should be in jail for war crimes. And destroying the economy. And for the stock market crash. And the real estate crash.
“I see you cannot show any evidence that the destruction of the middle class/greater gap between rich and poor has benefitted society. That's a fail.
We need more drilling? Are you nuts? You from texas? That would explain a lot. How about getting a new industry going that results in less drilling? Renewables. New industries EMPLOY.
At least you can admit that we are redistributing wealth to the rich. Now it's your turn for evidence. Show us how that benefits society.
I am indeed a socialist and you should be too. We all should be. The current robber baron-esque vibe in the USA is killing it. When you take away hope, you take away the lifeblood of democracy and democracy itself is threatened. We are closer now to fascism than ever. There will be a crackdown on workers soon enough.
As an accountant from Texas, you know that tax rates have often been above the Reagan 28% and definitely have been higher for capital gains. Rates should be at 40-50% for an AGI in excess of a million dollars, and capital gains taxes should be a minimum of 30%. The rich have to pay their share.”
BillCPA on Dec 10, 2013 at 11:48:43
“New industries EMPLOY? Really? How many? You mean, like Solyndra?
Redistributing wealth to the rich does not do good to society. But your solutions do nothing but perpetuate that situation.
I would ask you to look at several of the Milton Friedman videos. Why would you want to take resources out of the hands of the most efficient allocator of those resources - the American businessman - and put them into the hands of government bureaucrats who have never created a job other than their own, in their lives? Those bureaucrats who are beholden to one political constituency or another.
Your way has been tried in societies all over the world and is now on the dustbin of history. And thank goodness.
And who determines "fair share"? You do realize, don't you, that when you RAISE capital gains taxes you REDUCE revenues from those activities and vice versa? Even Obama acknowledged this in one of his 2008 debates.”
“I support his medical care. I reject his attitude and his stupidity. You should too.”
Juaquindead on Dec 10, 2013 at 11:00:17
“He dropped a can in some fresh water. It's hardly a scenario in which one can foretell getting a horrible disease as a result, and I see no attitude from him. Perhaps you should be more charitable to your fellow man. You'll have a much happier life.”
“I am not a Marxist. I don't favor that the means of production be owned by the government. There should be private ownership on the means of production, but when the ruling rich class starts to take everything in sight, thus obliterating the middle class, then they need their wings clipped, as in NOW.
Evidence? You see no evidence of the middle class disappearing? You see no evidence of a greater gap between rich and poor? Here's evidence. A very thorough, exhaustive work shows clearly what we've known forever in that the greater the gap between rich and poor=greater resentment and social ills:
How about some evidence that the current robber baron attitude is helping society? Show me one shred of EVIDENCE that society is getting better under the Bush tax cut society!
You want equality of opportunity? There is ZERO equality of opportunity. You admit yourself that the situation is rigged. Try to get into the 1%. You don't have the breeding, you don't have the family, you don't have the connections and you never will.
No one is being denied their constitutional rights, except recently under the Bush administration we lost Habeus Corpus. Taxing people does not remove their constitutional rights. As a CPA, you know better than I do that tax rates are still lower than they were under Reagan. Capital gains tax rates are minuscule.”
BillCPA on Dec 10, 2013 at 11:14:01
“So, you are not a Marxist; you are a Socialist.
Tax rates under Reagan were 28%.
There are people moving into and out of the 1% all of the time. Most of it has to do with education and NOT being the product of a single parent.
Yes, the middle class is disappearing, because we are not creating wealth anymore; we are merely redistributing it to the rich. We need more drilling, lower regulation and lower taxes. For instance, the Eagle Ford Shale in Texas created 116,000 jobs and $61 BILLION in economic activity. The average oilfield worker makes $107,000.”
“You are insane. We do not have freedom as you talk about it. We also do not have capitalism in any reasonable sense. We have a fixed system, the system is rigged in favor of the rich, that should be obvious to any CPA.
Capitalism with government control is absolutely necessary. Capitalism run amok, like what is in the USA, results in revolution or fascism (what we nearly have now) every time. People are inherently greedy, and when you give them the power to do anything, they will, resulting in ultimate resentment and hatred of the rich.
Where does it stop? The government control? It stops when the middle class is restored because the middle class is what made the USA great. We have lost it, and regaining it may never happen. You should fear that.”
BillCPA on Dec 10, 2013 at 10:36:56
“You are absolutely correct; it is currently rigged in favor of the rich. But it is the government that has done it so.
You engage in a lot of liberal platitudes without any evidence.
I want not equality of results but equality of opportunity.
What you advocate is redistributionism at best and Marxism at worst. You deprive one group of its Constitutionally granted rights.”
“People should definitely attempt to improve their lot in life, but it is IMPOSSIBLE to go to school on a min wage job. I don't care how motivated you are. You either need someone supporting you, or you need to take out a student loan PLUS you need the money to pay for school. I've done full-time school and full-time work, and it was the ultimate difficult thing in life to do.
The fact is, the government should pay for higher education, like they do in Western Europe for qualified candidates. But our government takes our taxes and buys bombs and invades random countries instead.
But back to the topic. The workers at Domino's should not have been fired for voicing their opinions. Boycott Domino's and other food franchises. Buy local. Period.”
BillCPA on Dec 10, 2013 at 10:11:25
“Freedom is a great thing; we shouldn't deviate from it. Capitalism is often a stern allocator of scarce resources. What you advocate is government control of what people are paid and the benefits they receive. Where does it stop?”
“Here's a little lesson for the creeps who are waging war against workers.
I 1973 I worked for 1.65 per hour at a department store for 6 months. I was on-time, pleasant, never called in sick, and I made good sales. After 6 months, my reward was a dime raise. I had options. I decided to stick it to them. I demoted them to less profit, in fact to huge losses, as I rang up subsequent sales at far less than the merchandise was marked, handing them their A$$E$ (you could do that in those days) and as a reward for their unmitigated greed. I asserted my rights as a human being to not be sh%t upon and bled the hardware department dry.
The war against the middle class will all come out in the wash in, hopefully, a similarly, non-violent, manner, as opposed to the outright revolution the CEO's deserve right now.”
Bunny Foo Foo on Dec 10, 2013 at 08:47:00
“In other words, you stole from them and committed a crimibal offense - typical lefty!”
mickey27 on Dec 10, 2013 at 08:46:10
“So you commited fraud and a crime. Good job lib! That's the way to get ahead.”
“You are clueless. Workers do have a right to decent wages, perfectly demonstrated by them asserting that right at this time and throughout history. Your clinical analysis is sheer stupidity. Take your trick riddle and shove it up your bum. They already know that the costs of raising the minimum wage is minor compared to the huge profits these greed monsters make.
Here's a little lesson for you dwimptwerp.
I worked for 1.65 per hour at a department store for 6 months. I was on-time, pleasant, never called in sick, and I made sales. After 6 months, my reward was a dime raise. I had options. What do you think a sane worker would do in response? I gave them a dramatic demotion as I was ringing up subsequent sales. I demoted them to less profit, in fact to huge losses, as I rang up far less than the merchandise was marked, handing them their A$$E$ (you could do that in those days) and as a reward for their greed. I asserted my rights as a human being to not be sh%t upon and they paid through the nose for it.
The war creeps such as yourself are waging against the middle class will all come out in the wash in, hopefully, a similar, non-violent, manner, as opposed to the outright revolution that you deserve right now.”