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  #11  
Old 05-09-2011, 03:46 PM
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Quote:
Originally Posted by piece-itpete View Post
Bonuses aren't taxed at the same rate?

Pete
Capital gains are not.

Regards,

D-Ray
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  #12  
Old 05-10-2011, 12:18 AM
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Yeah, that whole "freedom to fail" mantra was a little bizarre. I guess I can understand it to some extent. But when you're talking about an industry that can drag the rest of the economy down with it.....Sorry, but I just don't see failure and total economic collapse as a principle of "freedom".

But, then as Kris Kristofferson wrote; "Freedom's just another word for nothing left to lose......."

Naw, screw that.

Dave
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Last edited by BlueStreak; 05-10-2011 at 12:22 AM.
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  #13  
Old 05-10-2011, 08:17 AM
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Quote:
Originally Posted by finnbow View Post
But the bonuses paid with stimulous money WAS taxable at the regular rate, or no? I didn't see it in there.

I'm curious - since the government has been such an amazing success in private industry, 1) why doesn't it take over all large business, and 2) why not invest SS?

Pete
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  #14  
Old 05-10-2011, 10:39 AM
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Quote:
Originally Posted by piece-itpete View Post
But the bonuses paid with stimulous money WAS taxable at the regular rate, or no? I didn't see it in there.

I'm curious - since the government has been such an amazing success in private industry, 1) why doesn't it take over all large business, and 2) why not invest SS?

Pete
So you have been converted to all out socialism.

In the case of the auto manufacturers and the banks, the government stepped in to avoid a crippling economic crisis with profound national and international consequences. The recession has been bad, but nothing like what would have occurred with inaction. The government is the only entity large enough to step in when such a large scale disaster hits. Otherwise, many millions of Americans would have been left to suffer total economic devastation. The likely result would have been even more concentration of wealth, as those who have resources would have been able to acquire property and assets at fire sale prices.

Yeah, the bank bonuses were obscene, and had the TARP program been initiated under the Obama administration, there would have likely been greater oversight over the use of the initial TARP funds. I am glad, however, that the US still has a competitive auto industry.

Regards,

D-Ray
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  #15  
Old 05-10-2011, 11:15 AM
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Quote:
Originally Posted by d-ray657 View Post
It looks like the US bailout of GM has caused the end of capitalism as we know it. GM was only able to eke out a $3.2 billion profit for the first quarter.

Regards,

D-Ray
to be frank, someone should stick a folk in it (capitalism) to see if it is done

i gotta think it's time to get it out of the oven
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  #16  
Old 05-10-2011, 11:54 AM
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Of COURSE there'd be better oversight under Obama

Pete
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  #17  
Old 05-10-2011, 12:24 PM
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Quote:
Originally Posted by piece-itpete View Post
Of COURSE there'd be better oversight under Obama

Pete
Well, Bush as a Republican, would be more trusting of private businessmen to do the right thing.....................And we've all seen how well THAT works.

Dave
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  #18  
Old 05-10-2011, 12:35 PM
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We've seen the Minerals Management Service at work too.

Pete
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  #19  
Old 05-10-2011, 12:49 PM
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Quote:
Originally Posted by piece-itpete View Post
We've seen the Minerals Management Service at work too.

Pete
Hookers and blow seem to be the enemies of good oversight (same case for Wall St., BTW). Maybe we should make hookers and blow illegal.
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  #20  
Old 05-10-2011, 02:21 PM
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Quote:
Originally Posted by piece-itpete View Post
Of COURSE there'd be better oversight under Obama

Pete
Actually, Obama did place limits on executive compensation for anyone who took new money under TARP, but those who got it from the previous administration had imposed no such condition. Therefore, Obama could not restrict the obscenity on those loans.

Regards,

D-Ray
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