Paul O’Neal “We Are Not an Intelligent People”

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Subject:	Paul O'Neal: "We Are Not an Intelligent People"!
Date:	Tue, 2 Aug 2011 07:42:46 -0700
From:	Jas Jain <jas_jain@hotmail.com>

Paul O'Neal: "We Are Not an Intelligent People"!

As Exhibit A he mentioned the US Tax Code. (Fit for dopes and loved by Crooks). The only honest man (he appeared on Bloomberg) in evildoer GW Bush's cabinet didn't last long. No honest man, or woman, could have lasted in an administration where the enforcer was Dick Cheney. The same Cheney, a favorite of dope dealer Limbaugh, famously claimed: "Deficits don't matter, Reagan proved that."

It was the financial evil permitted under GW Bush that thrust Obama on the American People. Eight years of GW Bush were bad and Obama wants to prove that he could do worse given another chance in 2012. Yes, "We Are Not an Intelligent People." How could we? "We" were bred to be dopes!

All investigations into America's problems lead to Crooks and dopes. No? Democracy is the system of the moneyed Crooks and dopes!

Clueless Indians haven't figured out either.
Jas


Posted on my facebook group "Investing for the long term" under Government Deficit and Debt #2

Kirk Lindstrom

PB, if you don't say "end the Bush tax cuts for those making over $250,000" then you sound like you want to end the tax cuts for everyone. The fact is, with or without the Bush tax cuts, the hard working, decent earning middle class (probably $50K to $250K) pay more of their income in TOTAL FEDERAL TAXES than the very rich. I think the easiest way to fix the problem is eliminate the cap on SS so EVERYONE pays the same rate into the payroll tax and we then keep the Bush tax cut rates. I'd also like to see the corporate tax rates cut so we can encourage new jobs in the US rather than abroad where the taxes from new workers making things are less.

I might even go so far as to approve a 10-year recapture period to make up some of the lost payroll taxes from the wealthy where they might pay 1 or 2 percent higher to help pay for the war and recapture some of what they didn't have to pay in the last decade while the rest of us working stiffs paid the full amount.

We have a demand problem in the economy and that is in a large part because many of the middle class are saving rather than spending because we KNOW that the government probably won't do what I suggest... instead the government will probably screw us like they always do and let the lazy and very rich get off paying less than their fair share.

Kirk Lindstrom

BTW, here is another trick used by the very wealthy to not pay their fair share of taxes. Some of my neighbors, like John Chambers, and your neighbor Larry Ellison... will make a big stink out of only working for $1. What they don't say is they issue themselves a ton of restricted stock with a zero cost basis to them when the economy is in the toilet and their shares are way down. They hold the stock for a year or two then sell it for a huge gain. They pay capital gains taxes on the value gained... which gets taxed at the 15% rate AND escapes SS and Medicare. I believe Obama got their medicare contributions with his health care plan... but that method sucks as I believe it punishes the small investors in an attempt to capture Ellison and Chamber's taxes...

I would do something like anyone who makes money on company stock has to consider that regular income while they work at the company if their salary is above some cap, perhaps $250K. We still want to encourage kids to become engineers and work hard to reach that $250K level of success so that is why I'd not charge the regular working stiffs with this rule.... besides... it is mostly used by the CEOs and others who've avoided paying their fair share, not the regular engineers....

I think my solution would make the tax code far simpler and capture a fair percentage from everyone.

Kirk Lindstrom

FWIW, I figured out this trick by asking myself why would Chambers and Ellison dilute their ALREADY substantial holdings in Cisco and Oracle by giving themselves restricted stock... once you do the calculation of how much tax they avoid by shifting it to capital gains from regular income... it became obvious.

Discussion Board:  http://www.facebook.com/board.php?uid=2267714264
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