The War on Greed starring Larry the Loophole

[Rajiv]

Buyout industry executives with multi-million dollar incomes have been amassing fortunes by exploiting a major tax loophole. Their tax privileges have robbed the public purse and placed the burden on working- and middle-class taxpayers.

Short 3 minute video

Another short video on Henry Kravis

[Jim Nickerson]

Re: The War on Greed starring Larry the Loophole

Why do you want to put stuff up like that, Rajiv? For anyone choosing to watch it, it only demonstrates the futility in the futures for the common person in this so-called democratic society in which we live. Nobody for whom anyone is going to vote will change anything to rectify these inequities.

[Rajiv]

Re: The War on Greed starring Larry the Loophole

Why do you want to put stuff up like that, Rajiv?

Jim,

The reason I put this stuff up is because I want to wake people up to the reality of the society we live in. Unless people confront that reality, no corrective action is possible. People have to get out of their zone of comfort -- before change happens. I don't think being pollyannish or perhaps panglossian about things helps any -- we as a society are coming to a crossroad, and which direction we go will determine whether we as a planet will survive. I believe that as individuals -- most people are caring and empathic and would not want such inequities to persist -- however most feel powerless until they are forced to confront reality -- then sometimes great changes are possible.

[Jim Nickerson]

Re: The War on Greed starring Larry the Loophole

Jim,

The reason I put this stuff up is because I want to wake people up to the reality of the society we live in. Unless people confront that reality, no corrective action is possible. People have to get out of their zone of comfort -- before change happens. I don't think being pollyannish or perhaps panglossian about things helps any -- we as a society are coming to a crossroad, and which direction we go will determine whether we as a planet will survive. I believe that as individuals -- most people are caring and empathic and would not want such inequities to persist -- however most feel powerless until they are forced to confront reality -- then sometimes great changes are possible.

I should have put in a smiley face after the line of mine you quoted or whatever face depicts sarcasm.

I cannot argue that if all the people of voting age in the US truly understood the inequities that the rich and lobbyists have wrought that through the vote something would not necessarily change, but based on my opinion about the level of intelligence of the average American and the interests they have in politics, it is unlikely that anything will change until there exists massive unrest with the quality of lives we, on average, enjoy compared to the rest of the world. Nothing to remedy the existing and yet to be contrived inequities will change until something severe forces the government to change. I am not against Obama whose keyword I believe in seeking office is "change." It ain't gonna happen if we, actually not including me--I quit voting, elect "Obama's" to every elected position in the country. Money will still rule.

[zmas28]

Re: The War on Greed starring Larry the Loophole

Thanks for the video, Rajiv. Very enlightening.

[Nervous Drake]

Re: The War on Greed starring Larry the Loophole

.

[sadsack]

Re: The War on Greed starring Larry the Loophole

This boy is Ignorance. This girl is Want. Beware of them both, and all of their degree, but most of all beware this boy, for on his brow I see
that written which is Doom, unless the writing be erased.

- Dickens, A Christmas Carol

As hath been said, exploit or ignore these at one's peril . . .

[Sapiens]

Re: The War on Greed starring Larry the Loophole

- Dickens, A Christmas Carol

As hath been said, exploit or ignore these at one's peril . . .

Very wise words...

[Nervous Drake]

Re: The War on Greed starring Larry the Loophole

.

[Rajiv]

Re: The War on Greed starring Larry the Loophole

Such a way did exist and that was a progressive tax on income -- but that has been loopholed away. Ever wonder why the Federal Reserve and the Income Tax were created in the same year (1913?)

Further the income tax brackets never did get pegged to inflation. If they had, 75% of income earners would not be filing, and 20% paying very little. See Historical table A (pdf)

[Nervous Drake]

Re: The War on Greed starring Larry the Loophole

.

[seanm123]

Re: The War on Greed starring Larry the Loophole

Jim wise sage that you are stated "quality of lives we, on average, enjoy compared to the rest of the world."

The world is Hungry with a capitah "H", that is for sure. EJ is optimistic some others not so much. Who will be right and how long will it take is the the question we all want to know the answer to.

[Rajiv]

The Power of Kinship

Sapiens found this video -- I think it is relevant to this thread

[metalman]

Re: The War on Greed starring Larry the Loophole

Thanks for the video, Rajiv. Very enlightening.

found this one on how the media covers this racket...