Comments on: Richly deserved http://blogs.reuters.com/john-lloyd/2013/03/06/richly-deserved/ Wed, 13 Apr 2016 01:13:45 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: AZreb http://blogs.reuters.com/john-lloyd/2013/03/06/richly-deserved/#comment-1581 Thu, 07 Mar 2013 13:49:56 +0000 http://blogs.reuters.com/john-lloyd/?p=721#comment-1581 When you have the top justice official, Holder, saying that the banks are “too big to jail”, then that shows a lack of actual justice. Seems like we need someone as had of the Justice Department who puts the people of this country first and not the big banks and someone who is not afraid of a fight.

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By: Sanity-Monger http://blogs.reuters.com/john-lloyd/2013/03/06/richly-deserved/#comment-1580 Wed, 06 Mar 2013 18:27:20 +0000 http://blogs.reuters.com/john-lloyd/?p=721#comment-1580 “… it is a time when nothing can be done, it is a time when something must be done.” — Perfect description of our times, and not just on this issue. Thank-you Mr. Lloyd.

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By: Acetracy http://blogs.reuters.com/john-lloyd/2013/03/06/richly-deserved/#comment-1579 Wed, 06 Mar 2013 17:36:33 +0000 http://blogs.reuters.com/john-lloyd/?p=721#comment-1579 A very effective and simple way to reverse the growing disparity between the super rich and the growing millions of poor is to change the tax code.

Since the 1980s Reagan Tax Changes, payroll taxes have increased on middle income by 4x. Sales tax, the most regressive, is now the preferred tax revenue of most cities and states. Excise taxes (gas, telephone, utilities) and residential realestate taxes continue to rise from 1980 levels. These all hit the poor and middle class.

Yet the rich never had it better: Capital gains taxes (80% of all financial assets are held by under 5% of the population) have reached rock bottom. Dividend tax rate used to be up to 70%+, up to this year it was 15% for the past decade. Gains of real estate investment sales are 100% deferred if re-invested. Off-shore income for the mega multinationals has ballooned while their US Federal effective tax rate has plummeted. Many US companies pay more in lobbying fees than in Federal income taxes.

Wasn’t the rallying cry of the AMerican Revolution “No Taxation without Representation”. Who in the US Senate represents the poor and middle class? Who in the Senate and the House even have a middle class income or net worth? Probably less than 5%. What big monied lobby in DC is speaking up for US middle class, small businesses, or the working poor? Which big monied thank tank is pouring out PR releases and skewed studies showing that the poor and middle class are bearing the burden of taxes in the US?

The US has become an oligarchy – not much different than England and France before the 1800s. Progress seems to have stopped dead in its tracks as to social fairness and equitable tax burden in the US. And this is no exaggeration.

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By: brotherkenny4 http://blogs.reuters.com/john-lloyd/2013/03/06/richly-deserved/#comment-1578 Wed, 06 Mar 2013 17:22:11 +0000 http://blogs.reuters.com/john-lloyd/?p=721#comment-1578 Justice. We need Justice, not to punish or favor. Our lack of justice demotivates many. We have people who are too rich for the laws, too big to fail. In what strange alternate universe are we that we assume injustice to be the acceptable ends. This is what happens when you have lawyers as leaders. They were trained to manipulate justice. Our leaders are lawyers and our judges are lawyers and none of them cares about justice.

It may be too late. Most people can see the scams and many now assume that the smart person is the one that can lie and get away with it. The stupid people are those that won’t cheat and those that get caught. And why would we think anything else when our elected officials are the worst liars?

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By: Urban_Guerilla http://blogs.reuters.com/john-lloyd/2013/03/06/richly-deserved/#comment-1577 Wed, 06 Mar 2013 16:58:50 +0000 http://blogs.reuters.com/john-lloyd/?p=721#comment-1577 There is nothing new under the sun. Make no mistake, the fabulously wealthy of the 19th century though they deserved it.

They thought they worked hard.

What these people don’t seem to realise is that there are other people, working just as hard or harder, that get precious little reward.

An intelligent elite (such as the British aristocracy) does not push the peasantry too far. Or it ends in the guilotine. Is today’s global elite more like the British, or the Russian, aristocracy. Either way, with or without the guilotine, this process must go into reverse.

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