Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘wealth’

To What Extent is the American Economy Propped Up by Arms Sales?

Posted by Warm Southern Breeze on Wednesday, July 16, 2014

What should one expect when the whole damn defense industry has been whored out to arm the krazees of the world?

In a very prophetic manner, in his Farewell Address to the nation, January 17, 1961, then-President Dwight David Eisenhower warned about the “military industrial complex,” saying:

“We annually spend on military security more than the net income of all United State corporations.

“This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence-economic, political, even spiritual-is felt in every city, every state house, every office of the Federal government. We recognize the imperative need for this development. Yet we must not fail to comprehend its grave implications. Our toil, resources and livelihood are all involved; so is the very structure of our society.

“In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

“We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted only an alert and knowledgeable citizenry can compel the proper meshing of huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.”

US sells $11 BILLION worth of arms to Qatar

Published time: July 15, 2014 09:46
Edited time: July 16, 2014 12:55

US Defense Secretary Chuck Hagel (L) and Qatar's Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)

US Defense Secretary Chuck Hagel (L) and Qatar’s Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)

US Defense Secretary Chuck Hagel (L) and Qatar’s Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)

Washington and Doha have signed the largest arms deal of the year, preparing to enhance Qatar’s military capabilities with $11 billion-worth of Apache assault helicopters, PAC-2 missile defense complexes and Javelin man-portable anti-tank missiles.

The deal has been signed on Monday in Pentagon by US Defense Secretary Chuck Hagel and Qatari Defense Minister Hamad bin Ali al-Attiyah. Altogether Qatar is buying 10 batteries of Patriot missile defense systems and 500 Javelin anti-tank missiles manufactured by US defense industry giants Raytheon and Lockheed Martin, and 24 Apache helicopters made by Boeing, an anonymous US official told the AFP.

Read the rest of this entry »

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Pitchfork in the Road: America’s Economic Future – Poverty & Insurrection, or Abundance & Peace?

Posted by Warm Southern Breeze on Saturday, June 28, 2014

“How much is enough?” is a qood question to ask many folks, especially some among the Wall $treet crowd.

And to be certain, the two principles of “the worker is worthy of their hire,” and “You must not muzzle an ox to keep it from eating as it treads out the grain” are equally compelling ethics.

As those two ethics concern our nation’s economy, we can point to times in history where various nations suffered revolution, and the most common causes of revolution.

In fact, I wrote at length about it in this blog in 2011, and observed in part that, “…it’s not as if uproars have never happened before. They happen with great regularity and frequency. In fact, they’re quite predictable. Yes, predictable. It’s called “history.” The maxim goes something like this: “Those who forget the lessons of history are condemned to repeat them.” And so, any reasonable or prudent person should ask, “What are the lessons of history?””

Just remember this: Food, Clothing, Shelter. If you can’t get them with what you have, you’ll fight, kill, go to war, or civil insurrection, to obtain the basic necessities of life.

The Pitchforks Are Coming… For Us Plutocrats

By NICK HANAUER
Nick Hanauer is a Seattle-based entrepreneur.

July/August 2014

Memo: From Nick Hanauer
To: My Fellow Zillionaires

You probably don’t know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first nonfamily investor. Then I founded aQuantive, an Internet advertising company that was sold to Microsoft in 2007 for $6.4 billion. In cash. My friends and I own a bank. I tell you all this to demonstrate that in many ways I’m no different from you. Like you, I have a broad perspective on business and capitalism. And also like you, I have been rewarded obscenely for my success, with a life that the other 99.99 percent of Americans can’t even imagine. Multiple homes, my own plane, etc., etc. You know what I’m talking about. In 1992, I was selling pillows made by my family’s business, Pacific Coast Feather Co., to retail stores across the country, and the Internet was a clunky novelty to which one hooked up with a loud squawk at 300 baud. But I saw pretty quickly, even back then, that many of my customers, the big department store chains, were already doomed. I knew that as soon as the Internet became fast and trustworthy enough—and that time wasn’t far off—people were going to shop online like crazy. Goodbye, Caldor. And Filene’s. And Borders. And on and on.

Nick Hanauer

Nick Hanauer
With over 30 years of experience across a broad range of industries including manufacturing, retailing, e-commerce, digital media and advertising, software, aerospace, health care, and finance. Hanauer’s experience and perspective have produced an unusual record of serial successes. Hanauer has managed, founded or financed over 30 companies, creating aggregate market value of tens of billions of dollars. Some notable companies Include Amazon.com, Aquantive Inc., (purchased by Microsoft in 2007 for $6.4 billion), Insitu group (purchased by Boeing for $400 million), Market Leader (purchased by Trulia in 2013 for $350 million). Some other companies include Marchex, Newsvine, Qliance, Seattle Bank and Pacific Coast Feather Company. – Photo by Robbie McClaran

Realizing that, seeing over the horizon a little faster than the next guy, was the strategic part of my success. The lucky part was that I had two friends, both immensely talented, who also saw a lot of potential in the web. One was a guy you’ve probably never heard of named Jeff Tauber, and the other was a fellow named Jeff Bezos. I was so excited by the potential of the web that I told both Jeffs that I wanted to invest in whatever they launched, big time. It just happened that the second Jeff—Bezos—called me back first to take up my investment offer. So I helped underwrite his tiny start-up bookseller. The other Jeff started a web department store called Cybershop, but at a time when trust in Internet sales was still low, it was too early for his high-end online idea; people just weren’t yet ready to buy expensive goods without personally checking them out (unlike a basic commodity like books, which don’t vary in quality—Bezos’ great insight). Cybershop didn’t make it, just another dot-com bust. Amazon did somewhat better. Now I own a very large yacht.

But let’s speak frankly to each other. I’m not the smartest guy you’ve ever met, or the hardest-working. I was a mediocre student. I’m not technical at all—I can’t write a word of code. What sets me apart, I think, is a tolerance for risk and an intuition about what will happen in the future. Seeing where things are headed is the essence of entrepreneurship. And what do I see in our future now?

I see pitchforks.

At the same time that people like you and me are Read the rest of this entry »

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Who Pays Unskilled Labor US $80,000/year?!

Posted by Warm Southern Breeze on Sunday, June 22, 2014

“For Scripture says, “Do not muzzle an ox while it is treading out the grain,” and “The worker deserves his wages.”
-1Tim5:18

Lately, much has been made of raising the Minimum Wage, which does nothing more than establish a minimum standard.

But who cares about minimums?

We should strive to exceed!

Some well-known, publicly-traded, highly profitable firms, however, revel in greed, and wallow in the slop, when they can do far better for the employees who operate their businesses.

The question is often asked “why pay unskilled workers $10 or even more per hour?”

It’s a valid question, and deserves a genuinely thoughtful response.

So, let’s pose that question to BIG OIL COMPANIES in Williston, North Dakota, where…

“oilfield companies pay unskilled 19 year-olds $80,000 a year.”

 

http://www.marketplace.org/topics/economy/mall-middle-what-used-be-nowhere

by Dan Weissmann
Monday, June 16, 2014 – 15:21

Williston, North Dakota, has the nation’s highest rents. Thanks to the fracking boom, a basic apartment in Williston costs more than something similar in New York or San Francisco. And it comes with a lot fewer amenities.

For instance, shopping. If Walmart doesn’t have it, the nearest outlet is at least two hours away. Now, a Swiss investment firm has announced plans to Read the rest of this entry »

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BIG OIL’s Corrupting Influence in American Politics: Propping up Corrupt Regimes to Prop Up Profits

Posted by Warm Southern Breeze on Friday, March 7, 2014

Report

Slick Moves

The SEC could help tackle corruption in resource-rich countries around the world — but the oil industry is getting in the way.

Angola, Africa’s second-largest oil producer, is regarded as one of the most corrupt countries in the world. And American oil lobbyists are only making the situation worse: They are exploiting Angola by seeking to delay and weaken the implementation of a crucial U.S. transparency law.

That law, Section 1504 of the Dodd-Frank Act, also known as the Cardin-Lugar amendment, promises a breakthrough in preventing dirty deals and illicit payments being made for natural resources around the world, similar to the shady transaction recently uncovered by Foreign Policy. If implemented fully, the law would make U.S. oil and mining companies disclose the payments they make to governments across the world, including in Angola. However, oil lobbyists have been making misguided arguments that laws in Angola and three other countries prevent the required disclosures.

Off Shore Oil Drilling Rig

Off Shore Oil Drilling Rig – MARTIN BUREAU/AFP/Getty Images

Angolan officials secretly profiting from the country’s oil riches is not a surprise. It is only the latest episode in a sad history that goes back for decades. Global Witness, where we work, began exposing the complicity of the international oil and banking industries in the plundering of state assets during Angola’s 40-year civil war in our 1999 report A Crude Awakening. This was followed by our 2002 report All the Presidents’ Men, which called on the oil companies operating in Angola to “Publish What You Pay” (PWYP). Under this rallying call, Global Witness co-launched the PWYP campaign, which is now an international coalition of more than 790 civil society organizations in over 60 countries, including Angola, advocating for transparency laws such as Section 1504.

These efforts are intended to prevent scandals similar to the Trafigura deal covered in Foreign Policy, which provide a glimpse of the endemic corruption in Angola‘s oil industry. Only a few days before Foreign Policy published its story, media reports about leaked documents relating to other corruption claims caused the share price of SBM Offshore, a Dutch oil services company operating in Angola, to plummet 17.9 percent when markets opened. SBM released a statement challenging the validity of the leaked documents, saying that they are partial, taken out of context, contain outdated information, and are not representative of the facts. SBM had also already disclosed to its investors that it was conducting an internal investigation into questionable payments in Angola. However, the dramatic stock drop suggests that SBM investors had not anticipated the scale of the corruption risk exposure.

Another oil services company active in Angola, Weatherford International, which is listed on the New York Stock Exchange and headquartered in Switzerland, has recently pleaded guilty to violations of the U.S. Foreign Corrupt Practices Act (FCPA), including bribery of the executives of Sonangol, Angola’s state oil company. It has agreed to pay fines of $253 million to settle the case, one of the largest FCPA settlements ever.

These cases illustrate the urgent need for transparency in Angola’s oil sector. The successful implementation of Read the rest of this entry »

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American Entitlement Culture

Posted by Warm Southern Breeze on Thursday, October 10, 2013

Recently, I happened across an item which read “When they analyze the demise of western society due to the entitlement epidemic, it’ll trace back to giving kids awards just for showing up.”

Of course, it can sometimes be difficult to discern sarcasm when reading, and I rather suspect there is at least a smidgen of sarcasm in that brief remark.

Sarcasm, of course, can, and is often used to convey a truth, or truths about numerous subjects, and is a teaching tool, as well.

Because I often use dictionaries to aid my understanding, I chose to look up the definition of the word “entitlement.” Here’s what I found:
As a verb, to “entitle” is to give someone a legal right, or a just claim to receive or do something.

For example, in the United States, the First Amendment is an entitlement to Read the rest of this entry »

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How much is enough? A guide to dissatisfaction & satiety.

Posted by Warm Southern Breeze on Sunday, June 9, 2013

Late Southern humorist & columnist Lewis Grizzard once wrote a book entitled “Elvis is dead, and I don’t feel so good myself.” The title seems apropos, especially since economics is colloquially known as “the dismal science.” 

And then, there’s former Soviet Union premier Nikita Khrushchev who once famously said during the early stages of the Cold War in 1956, “We will bury you!

Either way, it means somebody’s gonna’ die.

Considering the implications, however, I ask these questions:

How many beds can a man sleep in at once? How many meals does he need before he is full? In how many cars can he ride at once? In how many showers can he bathe at once? How many shoes can he wear at once? In how many houses can he live at once?

How much is enough?

A pessimist’s guide to the Great Recession

Review by Ferdinando Giugliano
June 9, 2013 4:36 pm
A provocative critique of policy makers’ response to the economic crisis

When the Money Runs Out: The End of Western Affluence,
by Stephen King, Yale University Press, RRP£20/RRP$30

Academic debates over the right policy response are one of the few abundant commodities during an economic crisis. Just as in the 1930s and 1970s, the financial crisis that began in the late 2000s has divided economists into two camps. The neo-Keynesian troops have Read the rest of this entry »

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Do We Now Know Enough About Mitt Romney’s Taxes?

Posted by Warm Southern Breeze on Friday, September 28, 2012

MAKING SEN$E — September 28, 2012 at 5:04 PM EST

Do We Now Know Enough About Mitt Romney’s Taxes?

By: Paul Solman

US Republican presidential candidate Mitt Romney speaks at a town hall meeting at Central High School in Grand Junction, Colorado, on July 10, 2012, where he said he has ‘nothing hidden’ in his taxes. Photo by: Nicholas Kamm/AFP/Getty Images

It’s hard enough to figure out my own taxes every year without having to worry about Mitt Romney’s. But because the issue of Romney’s taxes has come to loom so large, I thought I’d better get some professional advice. So I sought out a friend, estate planning lawyer Matthew Berlin, who has modest clients like me as well as the high and well-heeled, some of them with assets abroad. I asked him if we now knew all we need to know, at least with respect to the tax returns Mitt Romney has disclosed publicly.

No, said Matthew. There are a host of questions that any inquiring tax attorney or journalist might ask. Without them, a true picture of Romney’s finances would be impossible. So I asked Matthew if he wouldn’t share the questions with us. Here they are: Read the rest of this entry »

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IRS pays whistleblower $104 Million for exposing wealthy tax cheats

Posted by Warm Southern Breeze on Tuesday, September 11, 2012

English: United States Internal Revenue Servic...

United States Internal Revenue Service, Criminal Investigation Special Agent badge

To know the truth is good, even though what may be revealed might not be good.

The über-wealthy & super-rich can run, but they cannot hide.

If anything, this perfectly illustrates the need for strong regulation.

IRS pays whistleblower $104 million

By STEPHEN OHLEMACHER

— Sep. 11 10:58 AM EDT

WASHINGTON (AP) — Lawyers for a whistleblower say the Internal Revenue Service has awarded their client $104 million for providing information about overseas tax cheats — the largest amount ever awarded by the agency.

Ex-Swiss banker Bradley Birkenfeld is credited with exposing widespread tax evasion at Swiss bank UBS AG. Birkenfeld himself Read the rest of this entry »

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Wall Street Journal on @MittRomney policy plan & R’ObamaCare Mitt-Flop

Posted by Warm Southern Breeze on Monday, September 10, 2012

Do tell.

WSJ chides Romney for too few policy details

By MAGGIE HABERMAN|

9/10/12 10:11 PM EDT

The WSJ editorial page weighs in on Mitt Romney‘s Obamacare response on Meet the Press, and the subsequent clean-up:

When Mitt Romney ventures into health care, political trouble usually follows. So it went this weekend, as the GOP standard-bearer made his own policy sound worse than it is.

On NBC’s “Meet the Press,” the Republican was asked what he would do about people with pre-existing medical conditions who would supposedly “no longer be guaranteed health care” if he repeals the Affordable Care Act. “I say we’re going to replace ObamaCare,” Mr. Romney replied. “And I’m replacing it with my own plan,” without defining the substance of his own agenda.

When pressed, Mr. Romney said that “I’m not getting rid of all of health-care reform. (That would be the liberal euphemism for ObamaCare.) Of course, there are a number of things that I like in health-care reform Read the rest of this entry »

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Pharmaceutical Firms Lie, Cheat & Steal from America’s Elderly, Orphans, Poor and Helpless

Posted by Warm Southern Breeze on Saturday, September 8, 2012

A few points for the reader to consider:
This fraud was national in scope, involving a $3 BILLION settlement, of which the North Carolina Attorney General was able to recoup $31.8M. Pfizer, Abbott, Johnson & Johnson, Forest Labs, Eli Lilly, Astrazeneca have also all plead guilty to deceptive and fraudulent marketing. It’s very likely a drop in the bucket in comparison with the greater scope.

The four most expensive Pharmacy frauds in the United States history have occurred since George W. Bush oversaw the rewriting of the Medicare Part D drug benefit in 2003. In order of their value, they are:
GlaxoSmithKline – $3 Billion, 2012
Pfizer – $2.3 Billion, 2009
Abbott Laboratories – $1.5 Billion, 2012
Eli Lilly – $1.4 Billion, 2009

The so-called “doughnut hole” in the Medicare prescription Part D drug plan was closed by President Obama. That “doughnut hole” was created under the George W. Bush administration, who caved in to lobbyists from BIG PHARMA, and allowed them to write much of that aspect of the 2003 revision of the Medicare Part D law (also known as the Medicare Prescription Drug, Improvement, and Modernization Act (MMA), and refused to allow Medicaid the opportunity to bargain for prices with pharmaceutical firms.

Advertising is expensive. Advertising for medications on television, radio, Internet, magazines, billboards, buses, and any other place where advertising is sold, is illegal in some nations. It was once illegal in the United States, until the 1980’s when the FDA OK’d it under pressure from the Reagan administration.

IMS Health, a medical data firm, calculates that drug companies’ business in the United States alone earns more than $300 billion a year.

Last year, GSK had $20 Billion gross profits on $27 Billion in revenue. So don’t let anyone EVER fool you into believing that drug companies don’t make enough money, don’t have enough profits, or enough profit margin.

Pharmaceutical companies spent Read the rest of this entry »

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Greed and Debt: The True Story of Mitt Romney and Bain Capital

Posted by Warm Southern Breeze on Sunday, September 2, 2012

Greed and Debt: The True Story of Mitt Romney and Bain Capital

How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs – and stuck others with the bill

by: Matt Taibbi

Rolling Stone 20120827-mitt-romney-x306-1346104394

Mitt Romney illustration / Illustration by Robert Grossman

The great criticism of Mitt Romney, from both sides of the aisle, has always been that he doesn’t stand for anything. He’s a flip-flopper, they say, a lightweight, a cardboard opportunist who’ll say anything to get elected.

The critics couldn’t be more wrong. Mitt Romney is no tissue-paper man. He’s closer to being a revolutionary, a backward-world version of Che or Trotsky, with tweezed nostrils instead of a beard, a half-Windsor instead of a leather jerkin. His legendary flip-flops aren’t the lies of a bumbling opportunist – they’re the confident prevarications of a man untroubled by misleading the nonbeliever in pursuit of a single, all-consuming goal. Romney has a vision, and he’s trying for something big: We’ve just been too slow to sort out what it is, just as we’ve been slow to grasp the roots of the radical economic changes that have swept the country in the last generation.

The incredible untold story of the 2012 election so far is that Romney’s run has been a shimmering pearl of perfect political hypocrisy, which he’s somehow managed to keep hidden, even with thousands of cameras following his every move. And the drama of this rhetorical high-wire act was ratcheted up even further when Romney chose his running mate, Rep. Paul Ryan of Wisconsin – like himself, a self-righteously anal, thin-lipped, Whitest Kids U Know penny pincher who’d be honored to tell Oliver Twist there’s no more soup left. By selecting Ryan, Romney, the hard-charging, chameleonic champion of a disgraced-yet-defiant Wall Street, officially succeeded in moving the battle lines in the 2012 presidential race.

Like John McCain four years before, Romney desperately needed a vice-presidential pick that would change the game. But where McCain bet on a combustive mix of clueless novelty and suburban sexual tension named Sarah Palin, Romney bet on an idea. He said as much when he unveiled his choice of Ryan, the author of a hair-raising budget-cutting plan best known for its willingness to slash the sacred cows of Medicare and Medicaid. “Paul Ryan has become an intellectual leader of the Republican Party,” Romney told frenzied Republican supporters in Norfolk, Virginia, standing before the reliably jingoistic backdrop of a floating warship. “He understands the fiscal challenges facing America: our exploding deficits and crushing debt.”

Debt, debt, debt. If the Republican Party had a James Carville, this is what he would have said to win Mitt over, in whatever late-night war room session led to the Ryan pick: “It’s the debt, stupid.” This is the way to defeat Barack Obama: to recast the race as a jeremiad against debt, something just about everybody who’s ever gotten a bill in the mail hates on a primal level.

Last May, in a much-touted speech in Iowa, Romney Read the rest of this entry »

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Bain Capital among firms subpoenaed by NY AG – suspected of tax evasion

Posted by Warm Southern Breeze on Sunday, September 2, 2012

The noose tightens.

UPDATE 2-New York probes private equity tax strategy – source

Sun Sep 2, 2012 8:00am IST

* NY AG subpoenas at least 12 private equity firms
* AG probing conversion of fees into fund investments
* Bain, Romney’s former firm, among those subpoenaed
* KKR, Apollo, Silver Lake, TPG also get subpoenas

By Karen Freifeld and Greg Roumeliotis

Sept 1 (Reuters) – At least a dozen U.S. private equity firms have been subpoenaed by the New York state attorney general as part of a probe into whether a widely used tax strategy that saved these firms hundreds of millions of dollars is proper, a source familiar with the situation said on Saturday.

Among the firms that were subpoenaed are Bain Capital LLC, KKR & Co LP, TPG Capital LP, Apollo Global Management LLC and Silver Lake Partners LP, the source said.

Bain was once headed by Mitt Romney, the Republican candidate who hopes to unseat President Barack Obama in the Nov. 6 election.

The subpoenas, which were sent out in July, seek documents related to Read the rest of this entry »

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Secret Swiss Bank accounts, Cayman Island Bank accounts, Bermuda Tax Haven Bank accounts… what does Mitt Romney have to hide?

Posted by Warm Southern Breeze on Sunday, July 15, 2012

What does Mitt Romney have to hide?

Why won’t he live up to his late father’s example, and voluntarily and openly reveal all his tax records?

Where the Money Lives

August 2012, 2012-08-08 T11:00:24.000-04:00

By Nicholas Shaxson

For all Mitt Romney’s touting of his business record, when it comes to his own money the Republican nominee is remarkably shy about disclosing numbers and investments. Nicholas Shaxson delves into the murky world of offshore finance, revealing loopholes that allow the very wealthy to skirt tax laws, and investigating just how much of Romney’s fortune (with $30 million in Bain Capital funds in the Cayman Islands alone?) looks pretty strange for a presidential candidate.

Mitt Romney Cayman Islands banking

BURIED TREASURE Grand Cayman, where Bain Capital maintains at least 138 funds. Inset, Mitt Romney tries to spot his La Jolla home from the campaign plane. ©Ruth Tomlinson/Robert Harding World Imagery/Corbis (beach); by Justin Sullivan/Getty images (inset).

A person who worked for Mitt Romney at the consulting firm Bain and Co. in 1977 remembers him with mixed feelings. “Mitt was … a really wonderful boss,” the former employee says. “He was nice, he was fair, he was logical, he said what he wanted … he was really encouraging.” But Bain and Co., the person recalls, pushed employees to find out secret revenue and sales data on its clients’ competitors. Romney, the person says, suggested “falsifying” who they were to get such information, by pretending to be a graduate student working on a proj­ect at Harvard. (The person, in fact, was a Harvard student, at Bain for the summer, but not working on any such proj­ects.) “Mitt said to me something like ‘We won’t ask you to lie. I am not going to tell you to do this, but [it is] a really good way to get the information.’ … I would not have had anything in my analysis if I had not pretended.

“It was a strange atmosphere. It did leave a bad taste in your mouth,” the former employee recalls.

This unsettling account suggests the young Romney—at that point only two years out of Harvard Business School—was willing to push into gray areas when it came to business. More than three dec­ades later, as he tried to Read the rest of this entry »

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Stay-at-home-mom Ann Romney’s tax deductions for her dressage horse exceeded the average American Median Income

Posted by Warm Southern Breeze on Monday, June 18, 2012

Ann Romney's horse deductions

Is this not a prime example of how “We the People…” should require higher tax rates of the über wealthy?

I mean, really… they get a deduction of $77,000 for their f*ing horse?!

C’mon, people!

What’s wrong with this picture!?!

Out of touch with reality, or out of touch with reality?

Hey!

I know!

Mitt says “job one is creating jobs in America.”

Since Mitt & Ann get those rich-folk tax breaks, that makes him a “job creator.”

So maybe you can work in one of Mitt’s horse barns!

You plebian slob.

Romney Horse Wins Spot on Olympic Dressage Team

June 16, 2012
By

GLADSTONE, N.J. — Mitt Romney and his wife, Ann, who plan to attend the opening of the Olympic Games in London this summer, now have a personal rooting interest in the event.

Jan Ebeling, Mrs. Romney’s longtime riding tutor, and his horse Rafalca, co-owned by Mrs. Romney, Read the rest of this entry »

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What does a tax-free, worldwide fraud… er, religious media empire look like?

Posted by Warm Southern Breeze on Sunday, May 20, 2012

Recall the words to this song?

Oh, how I love Jesus… Oh, how I love Jesus… Oh, how I love Jesus…

Well, some folk don’t “love” Him because He first loved them, but because He “gives me power to get wealth.” And THAT, my brothers and sisters, is where it’s at! Money, money, money! Pass the cash! I want more! More! More! More!

Is this abuse?

You decide.

Perhaps the greater question is this: How can this be prevented?

And, this is ALL tax free.

Free.

Remember that word.

(And be sure to watch the hilarious video following the story below!)

Private jets, 13 mansions and a $100,000 mobile home just for the dogs: Televangelists ‘defrauded tens of million of dollars from Christian network’

By Nina Golgowski

PUBLISHED: 16:21 EST, 23 March 2012 | UPDATED: 16:22 EST, 23 March 2012

Two former employees of the world’s largest Christian television channel Trinity Broadcasting Network are accusing the non-profit of spending $50 million of its funding on extravagant personal expenses.

Among purchases, the network founded by Televangelists Paul and Jan Crouch, is accused of misappropriating its ‘charitable assets’ toward a $50 million jet, 13 mansions and a $100,000-mobile home for Mrs Crouch’s dogs.

Accused: Brittany Koper, center, recently filed a suit accusing the Trinity Broadcasting Network, its founders Janice Crouch (left) and Paul Crouch Sr (far right), in squandering $50 million of its funding

Their granddaughter, Brittany Koper, 26, recently filed her allegations in court after Read the rest of this entry »

Posted in - Faith, Religion, Goodness - What is the Soul of a man?, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments »

Scrutinizing the Mitt Romney jobs claim record

Posted by Warm Southern Breeze on Monday, December 5, 2011

Mitt Romney, former  governor of Massachusetts, and GOP wannabe presidential nominee, has made many assertions claiming a record of creating private sector jobs before he became governor.

However, Marc B. Walpow, a former managing partner at Bain Capital who worked closely with Mitt Romney during his time there had this to say:

I never thought of what I do for a living as job creation. The primary goal of private equity is to create wealth for your investors.

Let’s examine Mr. Romney’s job creations claims more closely.

A closer look at Mitt Romney’s job creation record

The Republican presidential contender says he learned about expanding employment during his time heading a private equity firm. But under his leadership, Bain Capital often maximized profits in part by firing workers.

By Tom Hamburger, Melanie Mason and Matea Gold, Washington Bureau December 3, 2011, 7:23 p.m.
Reporting from Washington—

Shortly after Mitt Romney resigned from Bain Capital in 1999 to run the Olympics in Salt Lake City, potential investors received a prospectus touting the extraordinary profits earned by the private equity firm that Romney controlled for 15 years.

During that time, Boston-based Bain acquired more than 115 companies, according to the prospectus. Bain’s estimated annual returns were more than five times that of the Dow Jones Industrial Average in the same period.

Now a front-runner for the Republican presidential nomination, Romney says his Bain experience shows he knows how to create jobs. He often cites Bain’s investment in a little-known office supply store called Staples, which now employs more than 90,000 worldwide.

DOCUMENT: Read the Bain Capital prospectus

But a closer examination of the prospectus paints a different picture of Bain’s operation. Under Romney’s leadership, Read the rest of this entry »

Posted in - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , | Leave a Comment »

Wall Street Executives Drink Champagne during Occupy Wall Street Protest

Posted by Warm Southern Breeze on Tuesday, October 4, 2011

Is this not the height of arrogance?

Wall Street executives, tell show us how you ~REALLY~ feel!

Posted in - Faith, Religion, Goodness - What is the Soul of a man?, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , | Leave a Comment »

Riches, Wealth, Avarice, Power, Abuse and Vice: An Occupy Wall Street redux

Posted by Warm Southern Breeze on Saturday, October 1, 2011

John Adams: "the man who at certain point...

John Adams, 1823–24, Second President of the US. Painting by Gilbert Stuart (1755–1828).

Perhaps you’ve read the previous entry in this blog. If not, I encourage you do so.

Why?

For several reasons, not the least of which are that what you’ll read in the conclusion of this entry speak overwhelmingly to the issue addressed by the protestors.

Following is an entry I made in another forum, the content of which – as I considered it – was worthy of a separate post.

Your thoughtful commentary is encouraged.

I particularly like your earlier remark, and found it quite erudite. To wit, and to clarify, it is this one: “I believe in capitalism, Read the rest of this entry »

Posted in - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Warren Buffet tells Congress, “Stop coddling the Super-Rich.”

Posted by Warm Southern Breeze on Monday, August 15, 2011

Op-Ed Contributor

Stop Coddling the Super-Rich

By WARREN E. BUFFETT
Published: August 14, 2011

Omaha

OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.

Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was Read the rest of this entry »

Posted in - Uncategorized | Tagged: , , , , , , , , , , , , , , , , , , | Leave a Comment »

 
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