Simply Politics & News

[makesumgravy]

I agree. The govt started breaking down in the 60's, and we have been on a downward spiral since. I thought the flat tax was the answer several years ago, I even urged Forbes not to give up the fight. I was surprised to find an email response from him thanking me for my support. Under his plan capital gains would be eliminated, from money already taxed once, and money put at risk that could create growth, jobs, and could be a total loss, but the reasons behind the risk is the hope of seeing a return, that some reward can be hoped for by taking on such risk, but?

The argument I got from family members, but not entirely was that the ones who would benefit the most from it were the wealthy. I don't think people in general have a distaste for wealthy people, its the way most of them obtain it. Not all but most. Primarily those who use publicly traded companies for their road to riches at the expense of everyone else. Jefferey Skilling, Kozloski, Bernie Edwards, Madoff, Stanford, are just a few, and they aren't entirely at fault. Government makes what they do legal, and politicians benefit from bending over forward has allowed it. Our politicians have proven to be no better, and in many cases worse for going along with the schemes.

And your right imo they already benefit exponentially from the 62,000+ tax codes, when the working class pays again, again, and again on money we have already been taxed on thru the employer. No matter how its sliced the rich will always benefit more, but who cares if everyone else is able to keep a little more of what they earn.

What would make it even better would be for the government to get a grip on what goes on within publicly traded corporations, and then stopping those at the top from being allowed to receive stock and options for compensation, along with the ludicrous severance packages we have all been witness to. There is no cap, there is no limit to what they can get, and Board members have been little more than club members who benefit right along with those at the top, and have a direct connection in going along because they to can benefit enormously.

If you and I work for one of these companies we get a payroll check, and if we want to own stock within them we have to purchase them. Those at the top should not have keys to the treasury, stocks should only be used to benefit the company, not its executives. Whoever founded the company are issued controlling shares, and they should never be issued more, and these should remain restricted till they decide to sell the company, its that given day where they should be able to benefit from whatever the market is willing to pay. Imo they deserve every penny when they do from their creation. If the company fails they shouldn't be able to cash in before it collapses, and they shouldn't be allowed to continue to trade once they enter bankruptcy proceedings, this in itself should be illegal.

Whatever pay the Ceo, top executives, and directors receive should be agreed upon by the shareholders, not the board members.
Severance packages should have steep stipulations tied to them, foremost how much time they get should depend on time, performance, and many other variables, and not limited to receiving no severance package. This would prompt them to invest their personal earnings into a retirement plan like every other employee who works for them. If a person is fired there should be limitations on what they can get. This should inspire them to work for what they earn, and to be a good steward.
Bill Gates is a prime example of why these kind of reformations are needed. Whoever has this stock tied to a 401K, etc is footing the bill, and a gate that should be closed.
http://finance.yahoo.com/q/it?s=MSFT+Insider+Transactions

The other problem we have is the unbridled greed of the non regulated hedge fund industry, on an off shore, and short selling on borrowed stocks when options for puts, and call already exist. This truly puts every individuals investment in the market at greater risk.

Personally I think banks should be required to pay interest on depositors money of no less than 7%, but even this has been lost, and this forces many to put their savings in the stock market.

With all the manufacturing jobs in this country abroad, I'm afraid that the government throughout its years of concessions with foreign countries on trade, like GATT, and NAFTA, and selling jobs down the river thru outsourcing and making this a service oriented economy will never produce enough jobs to bring in the kind of tax revenues that will benefit us a nation. Corporations that exist to benefit mainly those at the top will never work, and they are proving it by moving abroad and giving American jobs away to foreigners. Countries, politicians abroad that have been opened up from war are now the real beneficiaries of capitalism, and the meager wages paid out to those who they employee to produce products are sold back to us, and we buy them, making all this a one big Catch 22.

Our government has failed on every level because of them selling their offices to lobbyist, as well as all our regulatory agencies that were suppose to protect the public from unscrupulous behavior. I think most with common sense can see what needs to be done to change things, but then again nothing changes if nothing changes.