Thread: Let's Give Thanks for the One Percent

Originally Posted by min0 lee

But, if you didn't help make the pie, how big of a slice are you entitled to?

Originally Posted by GearsMcGilf

But, if you didn't help make the pie, how big of a slice are you entitled to?

Without the baker to make the pie, the driver to deliver the dough....without them there will be no pie at all.

Wait...lets import it from China!

You can bet your hermaphrodite arse that no one over here is sharing the pie. It goes str8 from the oven to the US&A. The workers who make the pies over here are lucky if they even get a crumb.

Originally Posted by GearsMcGilf

You can bet your hermaphrodite arse that no one over here is sharing the pie. It goes str8 from the oven to the US&A. The workers who make the pies over here are lucky if they even get a crumb.

Kind of feel bad about them but they probably don't know any better.

Fuck the one percent, at least most of them. The 1% drove the economy in to the ground by gambling on mortgage backed securities and then blamed people for buying too much house, even though it was the 1% who qualified them for those loans. The 1% shipped all of our jobs overseas. The 1% has been recording record profits while cutting mass amounts of jobs. The 1% not paying their fair share of corporate tax is what causes the 2-10% who own businesses to pay much more.

I have a client in the 1%. He is none of the above and recognizes that all of the above is the problem. His company is 100% based in the states and his tax rate should be a fraction of the tax rate that these companies who are hiding money and expanding overseas is. You either expand our tax base by hiring Americans, or you Pay more tax. It's as simple as that, incentivize the hiring with tax cuts.

Nah, the living standard for a common worker with little education here is entirely different. The frame of reference is completely different also. What we call poverty in the US is pretty nice compared to the living standard of a common peasant worker in China.

government, large firms (non-banks and banks), etc. are all institutions there is nothing inherently bad about any of them, they function as they are directed. my problem is with the way there are directed to run in this day and age is the lack of accountability and morality, only doing what is required by law (which they get changed to suite their needs and wants).

only about 30% of the wealthy in the US inherited their money. once you reach that level it is very easy to continually increase the wealth to each higher level.

* the wallstreet banks and private lenders knew exactly what was going to happen when they started lobbying for more deregulation the end of in '96-'97 to boost revenues. In the US the home was always considered a long term "safe" investment. changing the taxes on capital on the sale of the primary residence from once in a lifetime to every 2 years turned the home from a long term investment into a short term commodity, greatly increasing volatility. in a healthy economy home values should increase along with real income growth, not by legislation. artificially inflated home values caused many to assume more debt as the home wealth increased, believing that this was a permanent increase. per many reports from the FRB the level of debt in the US increases as the income increased. after all you have to have sufficient income and assets to accrue a lot of debt. in terms of the home, equity is simply the fair market value of that commodity it is not a hard asset.

in regards to large firms they are not what they appear to be. I just checked the SBA website and the US workforce is split right about 50/50 between the large firm (over 100 employees) and the small firm (10-100). in roughly the past 20 years 70% of the net jobs in the US were created by small businesses, the the vast majority of those workers having been displaced from large firms.

currently in the US which has a very highly managed market economy those at the top via lobbying and legislation can manipulate the economy to best suit them, this is not even close a natural function or process of capitalism. although when you compare the US to other countries many of them are governed by several wealthy families that then control multiple large firms. in the US one family usually controls one large firm in an industry but all the leading large firms in that industry all belong to a special interest group that employes lobbyist to work on their behalf. but there are many conglomerates in the US, many of which are the same names that were on that corporate tax dodger report that came out the other week along with being top federal contracts. in function the conglomerate acts the same as the single family model seen in other country's, it's the large firm pyramid with one large firm at the top and lots of smaller subsidiaries under.

right now the problem is there isn't a sufficient amount of people that want to open a small business that can afford it with cash or get private funding. to much home wealth was lost during the crash of the housing bubble. this is why this and the last recession recovery's have been jobless. the large firms cut jobs to increase profits and the small business entrepreneur has no monies to start his her own business beyond the one person contractor LLC model, etc.

Originally Posted by GearsMcGilf

You can bet your hermaphrodite arse that no one over here is sharing the pie. It goes str8 from the oven to the US&A. The workers who make the pies over here are lucky if they even get a crumb.

Agreed, but we don't live amongst their poor, so who gives a fuck?

Originally Posted by GearsMcGilf

Let's Give Thanks For The One Percent | Fox News

Dude makes some good points. While everyone loves hating on rich people and big corps, one must keep in mind that there is a reason why small companies grow into big ones and some people get wealthy, whilst others don't.

Here's something to think about. What will happen to a small community bank that raises a tremendous amount of capital (when people get angry at the big ones), perhaps enough to buy up another, even smaller community bank? It becomes a bigger bank. If it provides competitive services and continues to raise capital and buy up smaller banks, it eventually becomes one of the evil big banks. What happens when an young entrepreneur, with a loan from dad and $5k in savings buys a small variety store and figures out how to run a store more efficiently than anyone else in the world? He eventually builds the evil empire of Wal Mart. If greed and self interest were all it took to get wealthy, then most of us would probably fall into the 1%.

The problem is that some companies' wealth all goes to upper management and the majority of employees don't even make a living wage. Is it legal, sure, but it's incredibly unethical.
some companies like Costco are very successful without exploiting their employees. The CEO only makes 300,000/year and every employee makes a decent wage and has medical benefits.

you 99% are pathetic whiny bitches (this only goes to those who acknowledge it....just like Newt said "they should take a shower and get a job")

Originally Posted by irish_2003

you 99% are pathetic whiny bitches (this only goes to those who acknowledge it....just like Newt said "they should take a shower and get a job")

The problem people like you face is that once the 99% is angry enough, we'll demand more. It's already happening. You can't make money off your business without workers.

Originally Posted by exphysiologist88

The problem people like you face is that once the 99% is angry enough, we'll demand more. It's already happening. You can't make money off your business without workers.

Sure you can.... just move your business to China, Mexico or india and double your workforce for 1/3rd the cost.

Originally Posted by Witmaster

Sure you can.... just move your business to China, Mexico or india and double your workforce for 1/3rd the cost.

That's the problem and our economy will not improve until it's fixed. I'm not a big tax fan, but I hate regulation more. Those companies have the right to do whatever they want and our government's role should be to make it prohibitively expensive for them to do so. Until this happens these companies have no intention of hiring anybody or paying a decent wage to their workers. They are almost forcing redistribution of wealth with their greed.

the US has the most liberalized trade in the OECD this is due to NAFTA which was signed in 1993 and the Trade Act of 2002.

Large firms in the US don't have to hire anyone, with the layoffs after the banking collapse in 2007 they laid off far more than was needed, reducing payroll, cutting capital investment and squeezing more productivity out of the remaining workers. It's why 50% of the layoffs in the OECD after 2007 occurred in the US alone and why large firms in the US are recording record profits and gains of 10%+/- during recession recovery years and large firms in other large OECD countries are reporting losses of 10% +/-. the US also suffered the smallest decline in GDP out of all large countries in the OECD during the recession and "recovery".

The US protects it's workers the least out of all G-7 countries and in the OECD, the US ranks dead last..the US also has the largest number of multinationals yet they only employ less than 1% of the US workforce.

the current level of unemployment at 9% is the NEW level of employment in the US until small firms can find funding to grow and entrepreneurs can acquire start up capital.

OECD Protection Index
http://www.oecd.org/dataoecd/42/4/42768860.xls

FRB St Louis : A Closer Look at G-7 Labor Patterns during the 2007-2009 Recession
Federal Reserve Bank of St. Louis | 2010 Annual Report

Originally Posted by GearsMcGilf

You can bet your hermaphrodite arse that no one over here is sharing the pie. It goes str8 from the oven to the US&A. The workers who make the pies over here are lucky if they even get a crumb.

And that is why people are pissed. It's not about hating rich people like the GOP tries to depict it, it's about a system that greatly favors transfer of wealth from the bottom to the top.

The 1% have forgotten basic math. There are far more of us than there are of them.

Originally Posted by Dale Mabry

Fuck the one percent, at least most of them. The 1% drove the economy in to the ground by gambling on mortgage backed securities and then blamed people for buying too much house, even though it was the 1% who qualified them for those loans. The 1% shipped all of our jobs overseas. The 1% has been recording record profits while cutting mass amounts of jobs. The 1% not paying their fair share of corporate tax is what causes the 2-10% who own businesses to pay much more.

I have a client in the 1%. He is none of the above and recognizes that all of the above is the problem. His company is 100% based in the states and his tax rate should be a fraction of the tax rate that these companies who are hiding money and expanding overseas is. You either expand our tax base by hiring Americans, or you Pay more tax. It's as simple as that, incentivize the hiring with tax cuts.

Actually those with hands out for loans they can't afford but were guaranteed by the government are the ones that drove the economy into the ground. The government ordering fannie and freddie to make those loans are what drove it into the ground. Entitlements drove the economy into the ground.

The 1%..those who worked harder, or were smarter??? Why do we want to penalize them again? makes no sense to me.

But then I've got a nice 2 story brick home in a nice neighborhood, nice vehicles, and to those from the ghetto nearby I look like one of those undeserving fucks that should be paying more so that I can subsidize more for them... In reality, they don't see that I'm working 24 hours on duty, then another 24 hours on duty...having less than 24 hours at home, then up at 4am to go do it again. Jealousy from the "have nots" because they failed to work hard enough or smart enough to be a "have" bugs me.

I'm in the less than half our our citizens who is actually a taxpayer...but I'm thankful to the 1% who pays the bulk of the taxes...they definitely pay more than me. And those who are sitting in their entitlement housing, eating their entitlement food REALLY need to be thankful for those who work hard to give them those entitlements.

Originally Posted by .V.

Actually those with hands out for loans they can't afford but were guaranteed by the government are the ones that drove the economy into the ground. The government ordering fannie and freddie to make those loans are what drove it into the ground. Entitlements drove the economy into the ground.

The 1%..those who worked harder, or were smarter??? Why do we want to penalize them again? makes no sense to me.

But then I've got a nice 2 story brick home in a nice neighborhood, nice vehicles, and to those from the ghetto nearby I look like one of those undeserving fucks that should be paying more so that I can subsidize more for them... In reality, they don't see that I'm working 24 hours on duty, then another 24 hours on duty...having less than 24 hours at home, then up at 4am to go do it again. Jealousy from the "have nots" because they failed to work hard enough or smart enough to be a "have" bugs me.

I'm in the less than half our our citizens who is actually a taxpayer...but I'm thankful to the 1% who pays the bulk of the taxes...they definitely pay more than me. And those who are sitting in their entitlement housing, eating their entitlement food REALLY need to be thankful for those who work hard to give them those entitlements.

It's a terrible assumption to say that those that are not rich, are just lazy or stupid. Companies like Walmart, who the top 10% are filthy rich don't work any harder than say a construction worker or a welder, they just exploit their employees and spend millions on preventing unionization.

The capitalist idea says that another company could move in and offer better wages, but in reality, walmart has gotten so powerful, it's impossible to compete with them. When corporations amass more money and power than entire nations, there is no way to compete with them.

And, I'm not poor by any means. I have a masters degree and work in the medical field, and now I'm able to pay back some of the assistance that helped me get through college.

It doesn't matter what the issue is, the one with the most money wins. Not the one who is right.

Originally Posted by .V.

Actually those with hands out for loans they can't afford but were guaranteed by the government are the ones that drove the economy into the ground. The government ordering fannie and freddie to make those loans are what drove it into the ground. Entitlements drove the economy into the ground.

The 1%..those who worked harder, or were smarter??? Why do we want to penalize them again? makes no sense to me.

But then I've got a nice 2 story brick home in a nice neighborhood, nice vehicles, and to those from the ghetto nearby I look like one of those undeserving fucks that should be paying more so that I can subsidize more for them... In reality, they don't see that I'm working 24 hours on duty, then another 24 hours on duty...having less than 24 hours at home, then up at 4am to go do it again. Jealousy from the "have nots" because they failed to work hard enough or smart enough to be a "have" bugs me.

I'm in the less than half our our citizens who is actually a taxpayer...but I'm thankful to the 1% who pays the bulk of the taxes...they definitely pay more than me. And those who are sitting in their entitlement housing, eating their entitlement food REALLY need to be thankful for those who work hard to give them those entitlements.

You're full of shit. The banks made those loans to people that couldn't afford it.

Private Sector Loans, Not Fannie or Freddie, Triggered Crisis | Truthout

Originally Posted by exphysiologist88

The problem people like you face is that once the 99% is angry enough, we'll demand more. It's already happening. You can't make money off your business without workers.

I really don't think he's part of the 1%.....but if he is

Originally Posted by .V.

Actually those with hands out for loans they can't afford but were guaranteed by the government are the ones that drove the economy into the ground. The government ordering fannie and freddie to make those loans are what drove it into the ground. Entitlements drove the economy into the ground.

you are 100% wrong...neither the CRA or CRA lenders or Fannie Mae & Freddie were responsible. they were cleared years ago by reports from the FRB, IMF, World Bank, the CRS and about half a dozen law independent multinational law firms outside of the the US. CRA banks have strict underwrite guidelines as they are required to hold onto a certain amount of the loans that they originate.

when the market started to slow and the banks wanted to increase earnings they pushed for more deregulation for the sub-prime markets during the years of 2000-2007. when the CRA banks would not budge is when investment houses on wallstreet were turned into banks overnight but under the view of federal over-site, the birth of the shadow banking system. it was the combination of shadow and the barely regulated hedgefunds that were approving stated income and no doc loans, not the CRA banks they do not allow them. all of these bogus loans were bundled up into MBS and into CDO's (stamped with AAA ratings from the rating agency's that get paid by the banks and investment houses) and sold to investors inside and outside the US along with US state pension funds. this is why Fannie and Freddie started to file suits against certain banks as they also bought some of these AAA rated products, thinking there were good. only the company that originates the loan has the paper work, loan app, bank statements, W-2's, etc. for each loan. US banks even lured investors offshore to the Cayman islands in 2005 to perform transactions as it was out of the reach of the Feds as they knew the products were bad and filled with bad loans.

and the majority of those stated income, no doc loans, etc. were made by babyboomers and not low to moderate income buyers.

Originally Posted by min0 lee

Without the baker to make the pie, the driver to deliver the dough....without them there will be no pie at all.

Wait...lets import it from China!

i don't want sweet rice cakes

Originally Posted by Zaphod

The 1% have forgotten basic math. There are far more of us than there are of them.

There were far more protestors in Tienanman's Square than there were tanks and soldiers. But, the end results weren't in the protestors' favor. I predict it won't be this time either.

Originally Posted by exphysiologist88

The problem people like you face is that once the 99% is angry enough, we'll demand more. It's already happening. You can't make money off your business without workers.

i'm not a millionaire....but i'm definitely not acknowledging the 99% movement....i take full responsibility for my failure and my fortunes......

Originally Posted by GearsMcGilf

There were far more protestors in Tienanman's Square than there were tanks and soldiers. But, the end results weren't in the protestors' favor. I predict it won't be this time either.

Big difference. Guns are illegal in China. We all have them in the States.