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ocrenter.
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July 10, 2012 at 12:52 AM #747571July 10, 2012 at 1:07 AM #747574
briansd1
Guest[quote=CA renter][quote=flu]Side note… I wonder how much this is really hurting our city, in terms of lost revenue.[/quote]
No, no no!!! It’s the pensions and the union goons, I tell you!
[just messing with you, flu!] :)[/quote]
Actually this shows that pension promises are not flexible enough to match fluctuation in revenues.
That’s why a 401k type system is better. The employer only pays a matching contribution now. That takes away future risks.
July 10, 2012 at 1:47 AM #747578CA renter
Participant[quote=briansd1][quote=CA renter][quote=flu]Side note… I wonder how much this is really hurting our city, in terms of lost revenue.[/quote]
No, no no!!! It’s the pensions and the union goons, I tell you!
[just messing with you, flu!] :)[/quote]
Actually this shows that pension promises are not flexible enough to match fluctuation in revenues.
That’s why a 401k type system is better. The employer only pays a matching contribution now. That takes away future risks.[/quote]
Gee, maybe if we fixed the tax laws so that a$$holes like Mitt Romney were forced to pay *at least* as much in taxes (as a percentage of income) as those darn union thugs, we wouldn’t be in such a financial mess to begin with!
The dude claims he “doesn’t even know” where his overseas investments are??? And some people want him to hold the highest political office in this country?
If what he says is true, he is so out of touch with regular working Americans…he poses a huge threat to any working person in this country.
…………
“In an interview with Radio Iowa tonight, Romney claimed ignorance of his exact foreign investments but insisted his financial managers adhere to all applicable laws.
“I don’t manage them. I don’t even know where they are,” Romney said of his portfolio of overseas investments. “That trustee follows all U.S. laws. All the taxes are paid, as appropriate. All of them have been reported to the government. There’s nothing hidden there. If, for instance, you own shares in Renault or Fiat, you still have to disclose that in the United States.”
http://abcnews.go.com/blogs/politics/2012/07/obama-says-romney-needs-to-be-an-open-book/
July 10, 2012 at 7:51 AM #747587EconProf
ParticipantActually, I think those are pretty good answers by Romney.
He is obviously rich and has worked hard and long to get there. He now has spread investments into many areas, has managers looking after those investments, and said investments include foreign ones. Given likely world growth trends by area, it is not surprising he has assets in, say, BRIC countries, maybe depressed european countries, etc. He’d be dumb to not diversify his investments and hire smart people to manage them, and I’d rather not have a dumb guy as president. I am also OK that he now hires others to manage his financial affairs and doesn’t know the details of everything–spend time instead on getting ready to be president, should that happen.July 10, 2012 at 8:12 AM #747588
CoronitaParticipant[quote=EconProf]Actually, I think those are pretty good answers by Romney.
He is obviously rich and has worked hard and long to get there. He now has spread investments into many areas, has managers looking after those investments, and said investments include foreign ones. Given likely world growth trends by area, it is not surprising he has assets in, say, BRIC countries, maybe depressed european countries, etc. He’d be dumb to not diversify his investments and hire smart people to manage them, and I’d rather not have a dumb guy as president. I am also OK that he now hires others to manage his financial affairs and doesn’t know the details of everything–spend time instead on getting ready to be president, should that happen.[/quote]+1.
July 10, 2012 at 8:17 AM #747589
svelteParticipantpolitic, shmolitics
They oughta save their breath
Mean streak – blue streak
They sentence me to death
Seems like everybody’s shakin’
‘Cause the big one’s ’bout to fall
I’m just trying to hold it steady while I
Piss on the wallJuly 10, 2012 at 9:13 AM #747592Guest[quote=CA renter]
Gee, maybe if we fixed the tax laws so that a$$holes like Mitt Romney were forced to pay *at least* as much in taxes (as a percentage of income) as those darn union thugs, we wouldn’t be in such a financial mess to begin with![/quote]
I agree with you on this specific point, but you’re conflating things.
A more progressive tax system at the Federal level would not have any bearing on the municipalities.
My earlier point was that local governments don’t have the budgets in order when 20% of revenue goes to pensions.
First priority should be to services for residents. The problem is that pension contracts take precedence over services that matter to quality of life of local citizens.
July 10, 2012 at 9:19 AM #747593Guest[quote=EconProf]Actually, I think those are pretty good answers by Romney.[/quote]
Those are good answers indeed, for a private citizen who manages his financial affairs well.
But lousy answers for a presidential candidate who wants to relate to ordinary citizens. Talk about elitist and bragging about your financial sophistication.
July 10, 2012 at 9:54 AM #747596an
Participant[quote=flu][quote=EconProf]Actually, I think those are pretty good answers by Romney.
He is obviously rich and has worked hard and long to get there. He now has spread investments into many areas, has managers looking after those investments, and said investments include foreign ones. Given likely world growth trends by area, it is not surprising he has assets in, say, BRIC countries, maybe depressed european countries, etc. He’d be dumb to not diversify his investments and hire smart people to manage them, and I’d rather not have a dumb guy as president. I am also OK that he now hires others to manage his financial affairs and doesn’t know the details of everything–spend time instead on getting ready to be president, should that happen.[/quote]+1.[/quote]+2
July 10, 2012 at 9:55 AM #747597Participantdup
July 10, 2012 at 9:55 AM #747598Participantdup
July 10, 2012 at 6:17 PM #747638Participant[quote=EconProf]Actually, I think those are pretty good answers by Romney.
He is obviously rich and has worked hard and long to get there. He now has spread investments into many areas, has managers looking after those investments, and said investments include foreign ones. Given likely world growth trends by area, it is not surprising he has assets in, say, BRIC countries, maybe depressed european countries, etc. He’d be dumb to not diversify his investments and hire smart people to manage them, and I’d rather not have a dumb guy as president. I am also OK that he now hires others to manage his financial affairs and doesn’t know the details of everything–spend time instead on getting ready to be president, should that happen.[/quote]The vast majority of working Americans have worked harder and longer than Mitt Romney. He was born into wealth and power, and would likely be in a very different place today if not for his family influence, money, and connections.
BTW, I’m not just talking about investing in foreign companies; I’m talking about the fact that he has accounts in well-known tax havens.
Do you think it’s necessary to have accounts in the Cayman Islands, Switzerland, etc. in order to invest in BRIC countries?
It stinks of tax evasion (legal or not, because tax laws are written by and for the wealthy)…and I’ll bet he’d be the first one to cut salaries of people who REALLY work (public workers and others), and are barely making ends meet, in order to maintain his unjustifiably low tax rates.
July 10, 2012 at 8:03 PM #747642CoronitaParticipant[quote=CA renter][quote=EconProf]Actually, I think those are pretty good answers by Romney.
He is obviously rich and has worked hard and long to get there. He now has spread investments into many areas, has managers looking after those investments, and said investments include foreign ones. Given likely world growth trends by area, it is not surprising he has assets in, say, BRIC countries, maybe depressed european countries, etc. He’d be dumb to not diversify his investments and hire smart people to manage them, and I’d rather not have a dumb guy as president. I am also OK that he now hires others to manage his financial affairs and doesn’t know the details of everything–spend time instead on getting ready to be president, should that happen.[/quote]The vast majority of working Americans have worked harder and longer than Mitt Romney. He was born into wealth and power, and would likely be in a very different place today if not for his family influence, money, and connections.
BTW, I’m not just talking about investing in foreign companies; I’m talking about the fact that he has accounts in well-known tax havens.
Do you think it’s necessary to have accounts in the Cayman Islands, Switzerland, etc. in order to invest in BRIC countries?
It stinks of tax evasion (legal or not, because tax laws are written by and for the wealthy)…and I’ll bet he’d be the first one to cut salaries of people who REALLY work (public workers and others), and are barely making ends meet, in order to maintain his unjustifiably low tax rates.
CAR, it’s not tax evasion. It’s legal tax loopholes. Don’t blame romney for it, blame the system…It’s no different than anyone else being offered a cake and eat it too.
I would argue the point about most americans work harder than romney. I would also argue that most overseas people I know work a lot harder than people here and are paid considerably lower. Working “harder” doesn’t entitle someone to make more money. You could work 120+hrs digging a ditch, and let’s face it, it doesn’t entitle the person digging the ditch to make more than say a loan officer that does a few loans in a few minutes. And like so many times people say, if it really is that easy to not work that hard and amass that kinda of wealth romney does, the strawman argument would be then that the dig ditcher should quit being a dig ditcher and just be like romney.
July 10, 2012 at 9:49 PM #747643GuestIt’s just funny to me that some people at defending Romney. Those same people think that college professors and environmentally conscious consumers are elitists. But Romney is not elitist.
You buy organic food so that makes you elitist. But Romney with cayman islands tax shelters is not elitist. He’s just a hard worker.
July 10, 2012 at 10:03 PM #747646Reality
ParticipantHate the game, not the playa.
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