OT: So the debt grows…

[JBurkett19]

Ultimately it comes down to real contributions. Aren’t banks fundamentally meant to provide capital for real economic activity? Provide an overarching mechanism to keep money flowing to activities that facilitate worthy endevours. Banks should spend all of their enegy on simple banking. Simple banking adds to the betterment of our system and still creates a profit for them. All of the other stuff they’re involved in, like trading & creating complex securities adds no real value to our existance. Those activities have no essence.

[briansd1]

JBurkett19, here’s an interesting article on the usefulness, or uselessness of the banks.

In his recent New Yorker article, reporter John Cassidy asks “What Good is Wall Street?” Cassidy writes that Wall Street once helped build up new industries, by providing the capital they needed to grow and prosper. But these days, Cassidy says, it’s only investment banks that are prospering. Cassidy is the author of “How Markets Fail: The Logic of Economic Calamities,”

http://www.hereandnow.org/2010/12/02/wall-street-economy

[briansd1]

JBurkett19, here’s an interesting article on the usefulness, or uselessness of the banks.

In his recent New Yorker article, reporter John Cassidy asks “What Good is Wall Street?” Cassidy writes that Wall Street once helped build up new industries, by providing the capital they needed to grow and prosper. But these days, Cassidy says, it’s only investment banks that are prospering. Cassidy is the author of “How Markets Fail: The Logic of Economic Calamities,”

http://www.hereandnow.org/2010/12/02/wall-street-economy

[briansd1]

JBurkett19, here’s an interesting article on the usefulness, or uselessness of the banks.

In his recent New Yorker article, reporter John Cassidy asks “What Good is Wall Street?” Cassidy writes that Wall Street once helped build up new industries, by providing the capital they needed to grow and prosper. But these days, Cassidy says, it’s only investment banks that are prospering. Cassidy is the author of “How Markets Fail: The Logic of Economic Calamities,”

http://www.hereandnow.org/2010/12/02/wall-street-economy

[briansd1]

JBurkett19, here’s an interesting article on the usefulness, or uselessness of the banks.

In his recent New Yorker article, reporter John Cassidy asks “What Good is Wall Street?” Cassidy writes that Wall Street once helped build up new industries, by providing the capital they needed to grow and prosper. But these days, Cassidy says, it’s only investment banks that are prospering. Cassidy is the author of “How Markets Fail: The Logic of Economic Calamities,”

http://www.hereandnow.org/2010/12/02/wall-street-economy

[briansd1]

JBurkett19, here’s an interesting article on the usefulness, or uselessness of the banks.

In his recent New Yorker article, reporter John Cassidy asks “What Good is Wall Street?” Cassidy writes that Wall Street once helped build up new industries, by providing the capital they needed to grow and prosper. But these days, Cassidy says, it’s only investment banks that are prospering. Cassidy is the author of “How Markets Fail: The Logic of Economic Calamities,”

http://www.hereandnow.org/2010/12/02/wall-street-economy

[ocrenter]

[quote=nocommonsense]”Are we in the presence of a billionaire Pigg? (likely a first!)”

I wish 🙂 I simply have a principal issue with a government that’s eager to tax its people. I’m not rich by any means, but I’m already feeling tremendous pain from all the taxes–federal (28%), CA state (10%), capital gain tax (>20%), property tax (2% tax), sales tax (9%).

I’m sick and tired of it and wanted to tell the government to its face–“Keep your FILTHY hands OUT OF MY Pocket”![/quote]

Here’s our general tax rate in comparison to other countries:

[img_assist|nid=14332|title=tax rate around the world|desc=|link=node|align=left|width=434|height=554]

One problem with folks in this country is we are so cocooned within ourselves without international worldwide perspective. we have folks screaming communism on the air 24 hours a day. But did you know the countries with the lowest tax rates are countries like Bulgaria and Russia? these former communist countries have zero social support at all, the gap between the rich and the rest of the country is huge. is that what you would prefer?

[ocrenter]

[quote=nocommonsense]”Are we in the presence of a billionaire Pigg? (likely a first!)”

I wish 🙂 I simply have a principal issue with a government that’s eager to tax its people. I’m not rich by any means, but I’m already feeling tremendous pain from all the taxes–federal (28%), CA state (10%), capital gain tax (>20%), property tax (2% tax), sales tax (9%).

I’m sick and tired of it and wanted to tell the government to its face–“Keep your FILTHY hands OUT OF MY Pocket”![/quote]

Here’s our general tax rate in comparison to other countries:

[img_assist|nid=14332|title=tax rate around the world|desc=|link=node|align=left|width=434|height=554]

One problem with folks in this country is we are so cocooned within ourselves without international worldwide perspective. we have folks screaming communism on the air 24 hours a day. But did you know the countries with the lowest tax rates are countries like Bulgaria and Russia? these former communist countries have zero social support at all, the gap between the rich and the rest of the country is huge. is that what you would prefer?

[ocrenter]

[quote=nocommonsense]”Are we in the presence of a billionaire Pigg? (likely a first!)”

I wish 🙂 I simply have a principal issue with a government that’s eager to tax its people. I’m not rich by any means, but I’m already feeling tremendous pain from all the taxes–federal (28%), CA state (10%), capital gain tax (>20%), property tax (2% tax), sales tax (9%).

I’m sick and tired of it and wanted to tell the government to its face–“Keep your FILTHY hands OUT OF MY Pocket”![/quote]

Here’s our general tax rate in comparison to other countries:

[img_assist|nid=14332|title=tax rate around the world|desc=|link=node|align=left|width=434|height=554]

One problem with folks in this country is we are so cocooned within ourselves without international worldwide perspective. we have folks screaming communism on the air 24 hours a day. But did you know the countries with the lowest tax rates are countries like Bulgaria and Russia? these former communist countries have zero social support at all, the gap between the rich and the rest of the country is huge. is that what you would prefer?

[ocrenter]

[quote=nocommonsense]”Are we in the presence of a billionaire Pigg? (likely a first!)”

I wish 🙂 I simply have a principal issue with a government that’s eager to tax its people. I’m not rich by any means, but I’m already feeling tremendous pain from all the taxes–federal (28%), CA state (10%), capital gain tax (>20%), property tax (2% tax), sales tax (9%).

I’m sick and tired of it and wanted to tell the government to its face–“Keep your FILTHY hands OUT OF MY Pocket”![/quote]

Here’s our general tax rate in comparison to other countries:

[img_assist|nid=14332|title=tax rate around the world|desc=|link=node|align=left|width=434|height=554]

One problem with folks in this country is we are so cocooned within ourselves without international worldwide perspective. we have folks screaming communism on the air 24 hours a day. But did you know the countries with the lowest tax rates are countries like Bulgaria and Russia? these former communist countries have zero social support at all, the gap between the rich and the rest of the country is huge. is that what you would prefer?

[ocrenter]

[quote=nocommonsense]”Are we in the presence of a billionaire Pigg? (likely a first!)”

I wish 🙂 I simply have a principal issue with a government that’s eager to tax its people. I’m not rich by any means, but I’m already feeling tremendous pain from all the taxes–federal (28%), CA state (10%), capital gain tax (>20%), property tax (2% tax), sales tax (9%).

I’m sick and tired of it and wanted to tell the government to its face–“Keep your FILTHY hands OUT OF MY Pocket”![/quote]

Here’s our general tax rate in comparison to other countries:

[img_assist|nid=14332|title=tax rate around the world|desc=|link=node|align=left|width=434|height=554]

One problem with folks in this country is we are so cocooned within ourselves without international worldwide perspective. we have folks screaming communism on the air 24 hours a day. But did you know the countries with the lowest tax rates are countries like Bulgaria and Russia? these former communist countries have zero social support at all, the gap between the rich and the rest of the country is huge. is that what you would prefer?

[nocommonsense]

1) I have a problem with your logic. One doesn’t justify his own bad behavior by pointing to others’ bad behavior. That other countries rob their citizens more somehow is supposed to make us feel better about being robbed to a lesser degree by this country?

2) What income bracket is this table referring to? What’s the source of this table?

3)11.9% for “Married with 2 kids”? I have more children and I pay much more taxes than 12%.

4) By the way, income tax is only one of the many taxes we pay. I actually forgot to include in my previous post payroll and medcicare taxes.

All in all, it’s probably safe to say that > 40% of our income goes to various forms of taxes.

[nocommonsense]

1) I have a problem with your logic. One doesn’t justify his own bad behavior by pointing to others’ bad behavior. That other countries rob their citizens more somehow is supposed to make us feel better about being robbed to a lesser degree by this country?

2) What income bracket is this table referring to? What’s the source of this table?

3)11.9% for “Married with 2 kids”? I have more children and I pay much more taxes than 12%.

4) By the way, income tax is only one of the many taxes we pay. I actually forgot to include in my previous post payroll and medcicare taxes.

All in all, it’s probably safe to say that > 40% of our income goes to various forms of taxes.

[nocommonsense]

1) I have a problem with your logic. One doesn’t justify his own bad behavior by pointing to others’ bad behavior. That other countries rob their citizens more somehow is supposed to make us feel better about being robbed to a lesser degree by this country?

2) What income bracket is this table referring to? What’s the source of this table?

3)11.9% for “Married with 2 kids”? I have more children and I pay much more taxes than 12%.

4) By the way, income tax is only one of the many taxes we pay. I actually forgot to include in my previous post payroll and medcicare taxes.

All in all, it’s probably safe to say that > 40% of our income goes to various forms of taxes.

[nocommonsense]

1) I have a problem with your logic. One doesn’t justify his own bad behavior by pointing to others’ bad behavior. That other countries rob their citizens more somehow is supposed to make us feel better about being robbed to a lesser degree by this country?

2) What income bracket is this table referring to? What’s the source of this table?

3)11.9% for “Married with 2 kids”? I have more children and I pay much more taxes than 12%.

4) By the way, income tax is only one of the many taxes we pay. I actually forgot to include in my previous post payroll and medcicare taxes.

All in all, it’s probably safe to say that > 40% of our income goes to various forms of taxes.

[Author]

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