RSS Feed
Twitter
Facebook
Email
HomeIncome Distribution in America
Posted by Larry Doyle on March 13th, 2013 6:19 AM |
I would like to believe I am the ultimate free market capitalist. I embrace and respect those who take risk and embody the entrepreneurial spirit that is the engine of our nation.
I detest and abhor those who utilize their positions to further a spirit of crony capitalism in America. I would count many of our politicians from both sides of the aisle in this camp.
How do we advance the former group while exposing the latter? Well, that is a topic for another day.
Today let’s review a brief video (thank you to the readers who brought this to my attention) that some may like to use to advance a liberal agenda of income redistribution. I strongly believe that approach would be an enormous mistake, and merely serve to perpetuate and exacerbate our current problem with cronyism and government handouts/bailouts. Watch the video, and then I’ll make a few comments: (more…)
Kangaroo Court . . . MUST READ!!
Posted by Larry Doyle on March 19th, 2009 4:20 PM |
The kangaroo court on Capitol Hill just passed a bill to tax bonus payments at a 90% rate for employees (with family incomes in excess of $250,000) of AIG and other firms that received $5 billion or more in government bailouts. In my opinion, 
this piece of legislation is a poorly constructed means of recapturing government funds.
I have previously stated that firms which were truly bailed out by the government should be subject to strict government compensation controls. A number of firms – such as Northern Trust, JP Morgan, Wells Fargo, and Goldman Sachs – were compelled to take government funds. If employees of these firms are subject to this tax, it will be a travesty and injustice of unprecedented proportions. I believe that Congress is unknowingly escalating class warfare amidst a facade and charade of protecting the public. I believe we will see public outrage from employees at these firms (JP Morgan, Northern Trust, Goldman, Wells Fargo) that can only be rivaled by our forefathers back in the 1770s. This tax is another means of promoting the income redistribution upon which Obama ran his campaign. Taxation without representation is tyranny!!! (more…)
