patrick.net

robertoaribas says

The top 10% of earners make 95% of the money, so paying 71% of the taxes is actually grossly underpaying...

Actually the top 10% earn about 50% of all income.

Vicente says

You want to fix it? Push for Glass Steagall 2.0. The original act brought stability from 1933 to 1999.

I'm in agreement on this point. As long as the government back-stops deposits then banking activities on deposits that are insured need to be separated.

Regardless of what the fixes are, deleveraging is going to cause a severe amount of pain. I doubt that we are even in the 3rd inning of this ball game. My main concern is that free market capitalism is being blamed for it. There is no way that the system could have become this over-leveraged without government loan guarantees and a central bank bent on pushing debt to extreme levels.

FlashGordon says

Good perspective.

NO here is the good perspective, because as much as some of you don't want it to get out because it exposes the LibDem game, he isn't wrong.

http://www.MU9V6eOFO38&feature=watch-vrec

Politicofact says

The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. As the FDIC celebrates its 75th anniversary, we present a historical perspective on the rich history of protecting consumers.

How lovely a feel good statement. One problem? THEY HAVE NEVER BEEN TESTED TO PAY OUT. Have they really the funds available to cover a major crash? THAT is the part most do not examine.

Dan8267 says

The real indisputable truth is that the vast majority of the top 0.1% are parasites who have never contributed anything to the real GDP and do not produce any wealth. If anything, they are massive wealth destroyers and they are rich only because they redistribute wealth from the working class wealth producers to themselves.

That isn't real honestly made wealth, real old money, that is just greed. People who unable to create and build something themselves they just know how to steal and rob others and pocket as much as possible while giving the illusion they are doing something else.

History has seen this shite before.

JohnLaw says

To say that you have a right to healthcare services is ridiculous.

No more ridiculous than saying you have a right to call the cops if you don't pay income taxes.

Imagine this scenario of a woman and her children:

"Help, three guys are climbing into my house!"
"Did you pay income tax?"
"Not last year, I lost my job as a secretary of a tire company six months ago and this year I only work 20 hours a week at Hillbilly's buffet washing dishes for $7.00. Because of my kids I qualify for some food stamps, too."
"Fuck You Then. Literally! Bwahahahaha! Stupid parasite! What do you think, you can just freeload off Police Services? And by the way, bitch, when you get impregnated by these rapists, don't come crying to us, we ain't givin' away healthcare. And, abortion is a sin against Jesus!"

Vicente says

The real problem with his "47%" comments was it got caught on tape.

I think they, the politicians, are all like that. Mitt was just the one who was caught lying. I bet he doesn't even see it as an ethical problem, only as a marketing problem that he wants to address through deceptive advertising.

Of the 47%, half are on Social Security. The vast majority of those had 15% taken out of their paychecks for SS and MC for 4 decades, so they prepaid all their benefits.

Another third make too little money to pay income taxes.

Only about 1/8th of 'em have no job and live off the government. And some of those are disabled.

How much subsidies do the top 1% get? Mortgage Interest deductions, subsidies to the companies they control, etc. Shit some multi-billion dollar businesses would be untenable without subsidies, like large scale commodity agriculture.