Since we are a union blog, we do have to give you one of these once in a while. From Bill Maher via the Nikkster:
I'll say it again: I don't believe in the "Too Big to Fail" doctrine. I don't agree (and never agreed) with Greenspan, Paulsen, Summers and Geithner and their prescriptions for saving the banks and the attendant billionaires.
If free enterprise is good enough for the rest of us, it should be good enough for the top one percent as well.
As Ritholtz at the Washington Post wrote yesterday:
... You might be surprised to learn that ... [b]efore these firms [big banks] went public in the 1970s and 1980s, bank management had full liability for their firm's losses. During the era of Wall Street partnerships, if employees were so reckless as to lose billions of dollars, the partners were on the hook for the full amount. This meant that after the firm was liquidated to pay its debts, the partners' personal assets were next on the auction block: Houses, cars, boats, even watches were sold to satisfy the debt. ...
Sounds fair to me. You lose a lot of money because you're reckless, you ought to have a consequence.
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34 comments:
Brilliant. Surprises me that even a conservative libertarian like Bill Maher would rip the truth this savagely (although I don't have HBO--so I don't see his show). The faux conservatism of the ignorant dittohead types do nothing but further their own demise--which couldn't happen fast enough. Down with Corporate Communism of the gNOp! America needs true and fairly regulated free trade--something wingnut teabaggers are terribly afraid of.
I love Bill Maher. I never miss an episode of this show
Pretty funny stuff. However, what is the solution to "the rich getting richer" anyway? Tax them more I guess, huh?
I am definitely middle class, but consider who really pays the tax burden. The wealthiest 1 percent of the population pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.
The point is, those rich fat cats are supporting the whole friggin' government. If they did not have all that money, people of little means would have to pay a LOT more into the system. Be careful what you wish for.
That is clever spin, but is all in how you view the numbers.
The wealthiest 1% pay 37% of all taxes, for the simple reason that they accumulated 35% of all net wealth in this country.
Think about that. 37% of all money made in this country went just to the top 1%ers. More than a third.
Meanwhile, the bottom 80% of us only account for 15% of all net wealth. Think about that for a second.
That's astonishing, really--practically banana republic numbers. The income gap between the rich and the middle class in America is mindblowing.
Let's not forget a time when America's economy was really prospering, and everyone did well--the 1950's. The top marginal tax rate at that time was 91% for the multi-millionaires. And our economy did wonderfully.
The solution is to eliminate corporate tax breaks.
Also, see this.....combines fun animation AND some valuable information
http://www.youtube.com/watch?v=k5kHACjrdEY&feature=channel_video_title
Bill Maher is a discredited has-been. Remember when he said that terrorists are braver than U.S. soldiers? Why does anybody give this fool a platform? Oh, right. Lefties are fools. He's preaching to the choir.
**As for THIS drivel:
Let's not forget a time when America's economy was really prospering, and everyone did well--the 1950's. The top marginal tax rate at that time was 91% for the multi-millionaires. And our economy did wonderfully.**
Ah, yes, the good ol' 1950's, when America had very little competition in the global marketplace and gas was cheap. Those were the REAL factors for "our economy doing wonderfully". Taxing the mean ol' rich at that tax rate today wouldn't make our economy do wonderfully today. It would encourage the mean ol' rich to invest elsewhere, in foreign countries, thus eliminating thousands of American jobs.
Lefties blaming the rich for all of our financial woes is a fairy tale only THEY believe in now. The unfairness of life, boo hoo, why do some people make more than other people, it's so UNFAIR, those dirty entrepreneurs, they should share the wealth with those who didn't earn it...NOBODY but the left could believe in such crap. It's like Walt Kelly's Communist cowbirds put it: "Comrade, our people's purpose is to share...share what others have...it's only fair." LOL!
Taxing the mean ol' rich at that tax rate today wouldn't make our economy do wonderfully today. It would encourage the mean ol' rich to invest elsewhere, in foreign countries, thus eliminating thousands of American jobs.
Earth to rightwinger: they are doing that already, despite enjoying the lowest taxes in decades. You seem to think if we just give them enough tax breaks, and pay them enough fealty, they won't outsource. Bullshit. They do it anyway, without hesitation.
At least if we taxed them heavily, those whose jobs are outsourced could be helped.
At the end of your post, you devolve into a silly strawman logical fallacy, which no one but you has suggested.
*** At the end of your post, you devolve into a silly strawman logical fallacy, which no one but you has suggested.
Obviously you missed the 'LOL' he put there... See... wait a minute... no nevermind, he's just a cool-aid drinking jackass.
Say what you want, but Maher is not a has-been, and is very successful at doing what he does: comedy.
And probably 100 times more successful than we, lame Anonymous commenters.
those dirty entrepreneurs, they should share the wealth with those who didn't earn it
It makes me sad that you think this. I cant believe you cant see the evils that giant corporations do in this world.
It isnt the entrepreneurs that anyone is complaining about.
YAY MONEY!!
http://www.youtube.com/watch?v=9x-fQaXC9EM&feature=youtube_gdata_player
Let us state the obvious then. Bill Maher is a millioniare himself so he needs to STFU. I dont see him handing out his money and I dont see him offering up more in taxes. If you listen to him then you are the fool because he is making his money off of the people who buy into his politics that the rich are evil. Nice going Bill of setting up class hatred so that one day the lower class can rise up and beat you to a pulp.
No, let ME state the obvious. If you DID watch his show (which clearly you dont) you'd know that he openly, repeatedly, says "Take more from ME."
But please, carry on emitting the diarrhea from your mouth.
None of you... Hell No one has got a job from a poor person. All of America is rich compared to the world, when are you all going to give your wealth to the poor? If you have earned your wealth, you should not be punished for it. Sure Wealthy people should wise and giving when they have much, but that is up to them. just like it is up to you. Where is the rich bar anyway? does rich mean 20,000 and up? Where will we stop? Maybe you should have to give at least half your wealth when you make 20,000 and above? Is that fair? When you make 20,000 you are considered wealthy compared to the other nations. So should you be forced to give your money away? Where will it stop? Everyone has the right to be successful. No one has the right to be punished others even when life is tough. If anyone believes they have the right to make laws to take from successful people you are a thief. Just because things are hard does not mean you can be a jealous immoral thief. I am a teacher making 35,000 a year. And thank heavens I live in a right to work state. And I am happy to see people succeed and get wealthy.
The bar is the top 1% you nutjob.
And no one...not ONE of us here got a job from the top 1%. That's big oil, wall street hedge fund people. Thats wealth beyond any of us.
Even the giant conglomerates we all work for are poor compared to those folks
And its not about "giving money to poor people" its about eliminating tax breaks so that they pay their fair share (which they DONT). Its about not taking advantage of the middle class. God some people are short sighted.
I dont need to watch the show. He can say take more from me all he wants. nothing is stopping him from giving more or just freely handing out wads of cash now is there. I guess I dissed your hero as you try to figure out how to pay off your house good ol' Bill will keep out making and out spending both you and I. Think for your self and stop defending an idiot who is on a get the rich bandwagon.
I am a teacher making 35,000 a year. And thank heavens I live in a right to work state.
So you're admitting that you're just a troll, coming to an animation labor blog and spewing your bile. If you spent half as much time trying to be a better teacher, your students would be thankful for it.
Until animators come to hillbilly teacher websites and start spamming, please get the hell off of our blog.
A few small points:
The first income tax was initiated by the Lincoln Administration, and declared unconstitutional by SCOTUS.
The Constitutional amendment to legalize the income tax was pushed by the Taft Administration. The tax, as first initiated, took money only from the rich.
This "taxing the rich" thingie isn't new.
Well, teacher-making-$30,000-a-year-in-right-to-work-state, I'm a CEO making $14.3 million/year. And I think all those in my pay grade should start paying our fair share, and pay higher taxes as we did in decades past, with no adverse effects to us or the economy.
Most rich people like me made our money from the labor, and purchasing power, of the working and middle classes. I couldn't have done it without them. I benefit more from government services, because they enable me to have an educated, skilled workforce, roadways to transport my goods, and an organized, civilized society who purchases and consumes my products. Without all that, my business and livlihood, along with all my other wealthy colleagues', collapses.
My rich business owning colleagues have all benefited greatly from stagnant wages to our working- and middle-class employees, while our profits have skyrocketed. We've pocketed those savings, while the masses have been left stagnant for 40 years. The least my fellow millionaires and billionaires can do is have our taxes increased, so that a small portion of our enormous gains (which have been gotten off the backs of those less fortunate than us) can be used to offset this vast wealth gap.
Just to be clear, MOST Liberal weathy are more than glad to pay more in taxes because they know they can and it won't impact their lives one iota. The people complaining are the Right Wingers and corporations who have found huge loopholes to avoid paying al,mosy any taxes. And it's this lack of paying their share that is killing everyone on this board.
YAY big money! YAY corporations! YAY that your health is a commodity!
http://abcnews.go.com/Health/WomensHealth/price-preventing-premature-births-skyrockets-drug/story?id=13104588
Government should exist to stop this kind of crap, but with right-wing dummies STILL out there SUPPORTING GREED, we're doomed.
yo, rich CEO...could I have $100000to help pay off my mortgage, please? My parents are unemployed, and It looks like I'll have to help them out. I'm nowhere near a six figure salary....
it's a shame your parents aren't a corporation. The could get a government bailout.
I'm a conservative and a registered republican(got your attention?) - and a union member.
I can't help but notice the rampant mypoci perspective being put forth in here. This has nothing to do with taxes. You can tax the top 1% all you want - I think you should definitely tax them more because they don't do ANYTHING for the rest of the country - but taxing them more does not provide anything for the rest of the nation.
What has created this disparity is the lack of regulations. The roll back of regulations has followed, in locked step, the disappearance of the middle class. Every time we roll back a regulation, we change the rules of the game to benefit the top 1%. They are the ones who ASKED for it to be rolled back. And every time we do it, we "let the genie out of the bottle" as Warren Buffet described it.
What has to happen now is we have to break up some of these monolithic corporations. Breaking up AT&T created five new secotrs in the market. It drove the tech war and spurned a massive boon in competition. The question is: who in Washingon has the balls to step in and break up some of these companies that have us all boxed out and are sidestepping anti trust laws and working in cahoots with one another.
For crying out loud, look at cable service providers! 80% of their markets are monopolies. Look at insurance companies! Look at media! We've got three news channels to choose from and no regional news of any worth. Thats thousands of jobs that have been turned into a hundred.
Don't ask for taxes to take money away from someone to give it to you. You're giving that money to the worst corporation in the corporatist state, the government. The least efficient, most defective, most expensive corporation.
Ask the government to DO THEIR JOB and put the rules back into the game by regulating sectors of the economy.
^^Psst...you should look at the Republican party and take note - you're not a Republican anymore.
What are you talking about? Bill Clinton is the poster boy for deregulation. He deregulated media. He deregulated insurance. He deregulated the housing market.
When it comes to taking away regulations that level the playing field, BOTH parties are to blame. They have both been bought and sold by the influx of lobbyists in Washington.
So far the recurring theme of this thread is to levy huge taxes on the rich and corporations. You can tax the rich 98% and you won't see any of that money. It will be gobbled up by the bureaucracy and you can tax corporations all you want, they will simply pass off that expense to the consumer.
Politicians and the government don't need more money. They need to draft legislations and write regulations. Any request by them for more money means they aren't going to do their job and they will squander the money you give them.
Mike and Phil, you should be brave enough to post your names with your comments. Don't hide behind anonymity.
the gNOp claims to want less taxes--and want to "privatize" all business and military--but with less regulations. They had 8 years of rule, and nearly bankrupt this country. Now they want to ruin it all by defaming individual people's rights to collectively bargain.
Clinton didn't deregulate the housing market. He helped make it easier for individuals to buy homes, but had nothoing to do with the greed of the banks and wall street in scamming countless millions of Americans into bad loans. That was primarily repbulikans.
Don't drink the tea.
Who are Mike and Phil?
Reveal them!
**the gNOp claims to want less taxes--and want to "privatize" all business and military--but with less regulations. They had 8 years of rule, and nearly bankrupt this country. Now they want to ruin it all by defaming individual people's rights to collectively bargain.
Clinton didn't deregulate the housing market. He helped make it easier for individuals to buy homes, but had nothoing to do with the greed of the banks and wall street in scamming countless millions of Americans into bad loans. That was primarily repbulikans.**
Do you realize how absurd you are? With your pathetic by-the-Red-book spellings of "gNOp" and all that crap? As if your mere misspellings aren't laughable enough.
Republicans (note the correct spelling) didn't "scam" people into taking bad loans. If anything, Barney Frank, his boyfriend and other Dems did. Bush tried numerous times to get Frank to do his job - rein in Freddie and Fannie - and Barney kept lisping that everything was fine and that Bush was trying to keep poor people from owning homes. And then CRASH...the rest is history.
And hooray for Walker for standing up to the unions and their bankrupting demands. Unions can be a good thing, but the collective bargaining tool is an expensive blackmailing device that deserves to be destroyed.
Some of the most sensible comments I have heard here (Tuesday, March 15, 2011 9:54 AM).
Yeah, sensible for a homophobic ditto-head.
Barney Frank did not order financial institutions to write exploding mortgages that stuck home owners with debt that was higher than the worth of their property.
It wasn't Frank that deliberately propagated these bad loans to create "assets" to generate worthless securities. That credit belongs to private, (greedy and opportunistic), investment bankers.
How very Right of you to blame the poor for having the audacity to want to own a home. In a normal, growing housing market under a fair mortgage, even someone in over their head can get out by re-selling a house that has risen in value faster than their interest.
Chip said...
"Who are Mike and Phil?
Reveal them!"
---
Hi, Chip,
I'm Phil.
Or maybe sometimes I'm Mike... depending on the point I'm trying to make.
Glad to meet ya, "Chip". See, this is how anonymous blogging works. Feel better now that you know my (our) real name ?
Who is Chip ? Reveal him.
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