In the beginning there was a person that the people wanted to lead them into a new world….and this person brought with him his advisers….and soon after the man took his rightful place in the halls of governance…his advisers started falling like flies….
The Obama team is losing people quicker than a Hair Club for Men….first it was his National Intel Director and then his budget dude, Orzag and shortly after that came the resignation of Romer, an economic adviser and now (may I have a drum roll, please)…..it is time for Summers to turf out in a dead run……
Summers, In my opinion, should NEVER have been allowed anywhere near economic policy…why? It was his policy with Clinton’s help that de-regulated Wall Street and set the stage for the biggest financial crisis sine the 30’s….I ask at the beginning of the Obama strategy, why he would allow this man to help make economic policy, considering his track record……
With all that said…the departure of Orzag, Romer and Summers, how long will we have to wait until Geithner is shown the door or better yet shoved through it…..I question any thinking that puts the very people that helped cause our economic crisis in any position of authority or to influence policy….
Yeah, well, it’s all an “old boys’ club on a merry go round and a lot fall off from time to time, but as it stops to take on a fresh administration, they all climb back on again whilst no one’s paying much attention.
Same old same old…
And that is a problem…..Obama has given the very people that caused the economic crisis…the keys to the treasury….I will be watching to see which dude he chooses to replace Summers…if it is Wall Streeter then not much will change….
His difficulty is that he doesn’t have anyone with the required ability that he can choose who DOESN’T already have huge vested interests – not many such people exist anywhere and probably none at all in the dollar driven US.
We do have a couple of people that I would suggest, that is if they want to ask, Elizabeth Warren is my first choice…the woman is amazing with the pulse of America…she has been fighting the left and the right to protect the middle class…..Obama is afraid to nominate her because the GOP would be on it like white on rice for they do NOT like her…..
Af yes, well… the middle class – that’s the bunch of people who work and pay everyone else’s bills isn’t it?
Pretty much sums it up…..like the US tax code….about 5% of it is for humans….the other 95% is for corporations to NOT pay their taxes with breaks and deductions and ….well you know…..
Yeah, I know. You and I don’t exactly agree on tax and stuff, but why do they have to make it all so f*cking complicated? Is it JUST in order to employ yet another army of bureaucrats, or is there some real logic somewhere to it that us normal mortals simply cannot see?
We hear politician after politician bitch about the size of the tax code….but only a small part actually pertains to humans the rest is all about how to pay less taxes for the corporations….like the tax deduction for owning a Hummer….why? Because it is over a certain weight and that categorizes it as farm equipment and farm equipment even if it is not used on a farm there is still a deduction…when was the last time you saw one working a farm?
This is a pretty good piece…it is a bit long but it goes a long way to explain why “small business” is such a hot issue…
http://www.msnbc.msn.com/id/3036677/ns/msnbc_tv-countdown_with_keith_olbermann/
Well, I don’t think I’ve ever actually seen one at all, except on TV, but I get your point.
To me, tax is evil – certainly income tax is (another crap British idea!!!). However, if you’re going to have it, then eveyone pays the same RATE on whatever they earn above the basic cost of subsistence – no ifs or buts, that’s it!
Corporations likewise should pay tax on ALL profits (you can always lower the rate and make NOTHING deductible, which would help the small guy as he’s necessarily more frugal). Or equally profit could be anything that is not a straightforward business expense – and devious accounting in deterimining those profits is a CRIME, but likewise if a business has spent anything on something it feels (however stupidly) is necessary then that’s fine and reduces profit. If they take the piss out of that system, the shareholders will undoubtedly let them know EXACTLY what they think!
Even simpler – do away with ALL taxes and just add on VAT at 100% or more on EVERYTHING except food, baby stuff and kids clothes and other basic living essentials. It may feel like it makes stuff more expensive, but it really doesn’t because there’s nothing wrong with poor people having to consider being able to afford eating before watching TV!
You know I am starting to take a shine to the VAT idea…..I mean the US tax code is such a piece of sh*t it has long been used to screw the middle class while making it easier to avoid taxes if you are rich….so VAT has got my vote…like you I want fair and balanced (no not FOX News) where it comes to taxes……
That’s the point about VAT – as long as it’s NOT added to ESSENTIALS – everyone pays, but the more you buy the more you pay and most people who ean a lot spend a lot – according to figures I believe the top 5% of earners in the US buy over 50% of the goods in stores (in monetary terms).
I can’t imagine the rich would like it and you do have to watch out for corporations “buying” their top people very expensive gifts and trying to reclaim the VAT, but that’s no different from now and it’s one hell of a lot cheaper and simpler to examine corporation accounts than it is to keep track of the earnings of 350 million ordinary citizens.
The prob I see3 here in the US is that it will effect the wealthier and the GOP will definitely be against…no matter how fair it is….their base will spin it to where the working class will be getting f*cked….not true….but I bet it will play out just as I have said….
Heard someone…call it A Lemon Pledge…..clever!