Jack K

Great Depression Not Imminent, But Inevitable

Although I agree with you in many areas of your comment, i don't think that the capital gains cut hurt. Any decrease in taxes are good. Taxes are already paid on capital gains by the company that made the profit.


On Dec 18 05:45 PM Chris B wrote:

> There is the casino and there is the factory. Only one of them produce
> wealth.
>
> The factory pays 35-40% taxes for producing wealth. The casino finds
> ways to dodge taxes, and then only pays 15% for their cap gains,
> dividends, and interest for producing.... well... not much. In the
> US, we punish the factories and reward the contract flippers for
> houses, credit default swaps, stocks, etc.
>
> In theory, the casino could go broke underwriting dumb bets (CDS's)
> or loans (mortgages) and the factory could continue to produce all
> the actual wealth. However, in reality, the factory needs the casino
> to loan it money to grow and to provide financing to its customers,
> so when the casino goes down due to gambling that is not even related
> to actual production of wealth, it takes the factory and our GDP
> with it.
>
> Perhaps the people who work for a living actually producing something
> should request that "investment" banking and actual banking be re-separated
> by law so that they are not again the victims of bankers' foolish
> gambles. This was the case from the end of the depression until
> 1999, when the big banks lobbied to repeal the Glass-Stegal act as
> a way to promote growth.
>
> How did that work out for the factory, the integrity of banking and
> investing, and our economy? Also, did the Bush tax cuts on non-productive
> earnings such as capital gains, interest, and dividends have anything
> to do with the gamblers running wild?

Great Depression Not Imminent, But Inevitable

I agree. but remember, we live in a republic, not a democracy.


On Dec 17 10:23 AM TAS wrote:

> Much like the old Soviet Union "we will bury you" period of history,
> those predicting the demise of the West accompanied with the implied
> rise of another system is interesting, but flawed.
>
> As Churchill remarked, "democracy is the worst form of government,
> except for all of the others". Corruption in the West is eventually
> exposed and is the exception, not the rule. Corruption and deceit
> in India, Russia, China and many like societies elsewhere is not
> only endemic, it is accepted.
>
> Regardless, enjoyed reading your opinion.

Paulson's Plan Fails to Understand the Problem; Madoff Is a Perfect Example

Ever since I was a little kid watching the Three Stooges, I have liked the word imbecile. Moe used it a lot. Obama, Bush, I would put Bill Clinton as the third stooge, but many others could easily apply


On Dec 15 08:21 AM tdillian wrote:

> while I did enjoy reading this article... the author seems to be
> seriously deluded about the fraud known as Obama, the only reason
> Obama is not getting involved and saying "one president at a time",
> is that the man has no freaking clue what he is doing.
>
> Not like Bush has any idea what he is doing either.. so you have
> 2 imbeciles, one playing president until mid-januray, the other studying
> hard of the shows of "west wing" to figure out how to look presidential,
> but in reality is completely ignorant.
>
> the same stuff that happened with the financials is now happening
> with politicians, no one asked Madoff any hard questions, no one
> asked Obama any hard questions... once the koolaide wears off, the
> ignorance of the american people in voting for this ignorant fraud
> will be the running joke all across the world.

Wall Street Breakfast: Must-Know News

On Nov 26 02:24 PM eddie64 wrote:

> MARKET BOTTOM & REVERSAL UPWARD -- WITH FORCE:
> will occur when...........
> [1] SEC reinstates UPTICK RULE;
> [2] Mark-to-Market accounting discontinued;
> [3] Sarbanes/Oxley reversed;
> [4] Naked Short Sellers prosecuted;
>
> All at ZERO COST to the taxpayer, and $$$$$ Trillions returned to
> our investment, college & retirement accounts!!!!!!!!!!!!

>
>
> The question is WHY AREN'T THESE BEING DONE??????????


Great points. But the answer is that government NEVER reduces their control. They only add to it. And with Dems in control it will only get worse.

3 Things America Needs to Do to Get the Economy Back on Track

Socialism doesn't work. Our Economy is reeling because of too much government intervention.