Posts Tagged ‘wealth’
Posted by Warm Southern Breeze on Monday, April 27, 2015
How accurate, or true are Right Wing memes?
Regardless of one’s political beliefs, party affiliation, or ideological inclination, it’s always good to consider the truth of statements in memes that – like flotsam and jetsam – are dispersed throughout the Internet… particularly upon Social Media sites such as FaceBook, and Twitter. And unfortunately, in many cases, they are the veritable garbage, the effluent detritus of communication.
So… let’s examine some of the argument in the meme seen here, and see if it still holds water.
Government has necessary services, and provides the same.
Consider road construction as one example.
To create & build roads (which themselves increase opportunity) government must purchase things – raw materials, and manpower, among them.
Now… exactly where is any “government factory” for that, eh?
That’s correct – there is NONE.
EVERYTHING “we the people” by and through our government – at ALL LEVELS, Federal, State, and Local – purchase comes from the Private Sector!
Consider also what may be the greatest example of Read the rest of this entry »
Posted in - Did they REALLY say that?, - Even MORE Uncategorized!, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: 2006, Art, Beisser Lumber, business, claim, claims, Company, contracts, Coralville, David Lienemann, enterprise, entrepreneurship, flakes, free enterprise, GOP, government, history, image, Iowa, Joe Biden, lumber, meme, money, nuts, odd, official, peculiar, photograph, photographer, politics, Republican, rhetoric, right wing, strange, suspect, The Gazette, truth, Vice President, VP Joe Biden, wealth, White House, wrecking ball | Leave a Comment »
Posted by Warm Southern Breeze on Wednesday, January 28, 2015
It’s fairly explanatory. American corporations are making profits hand over fist. They’re making more profit now, than before the “Great Recession.” In fact, they’re making more than DOUBLE from their lowest during that time.
Corporate Profits After Tax
Read the rest of this entry »
Posted in - Business... None of yours, - Even MORE Uncategorized!, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: business, Company, corporate, corporate income taxes, corporation, data, economy, family, FRED, household, income, income taxes, money, profits, salary, statistics, taxes, U.S., United States, US, USA, wages, wealth, wealthy | Leave a Comment »
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)
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 »
Posted in - Business... None of yours, - Read 'em and weep: The Daily News | Tagged: Air Force, Arms, Army, Big deal, death, Dwight David Eisenhower, greed, killing, military, military industrial complex, missiles, money, murder, power, prostitute, prostitution, Qatar, sales, speech, spiritual, spirituality, United States, USA, Wall $treet, Wall Street, war, wealth, weapons, whore | Leave a Comment »
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.
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.
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 »
Posted in - Business... None of yours, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: Amazon.com, aQuantive, billionaire, business, Capitalism, capitalist, Civil War, Clothing, Congress, creative, Economic inequality, economy, employees, entrepreneur, food, Franklin D. Roosevelt, government, healthcare, Henry Ford, House, House of Representatives, housing, income, income taxes, insurrection, iphone, Jeff Bezos, middle class, millionaire, Minimum wage, money, Nick Hanauer, Occupy, occupy movement, Pacific Coast Feather Company, peace, plutocrat, policy, politics, polity, poverty, Qliance Medical Management, representative, Seattle, senate, shelter, taxes, United States, Wage, wealth, wealth gap, wealthy multi-billionaire | Leave a Comment »
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.”“
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.”
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 »
Posted in - Business... None of yours, - Did they REALLY say that?, - Faith, Religion, Goodness - What is the Soul of a man?, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: BIG OIL, BP, BP PLC, business, Chevron, Chevron Corporation, Christianity, ConocoPhillips, ConocoPhillips Company, economy, employees, ExxonMobil Corporation, ExxonMobile, faith, fracking, geotag, geotagged, government, greed, hamburger, income, jobs, labor, Laborer, manufacturing, Marketplace, McDonald's, minimum, Minimum wage, money, North Dakota, oil, practice, raise the wage, religion, rent, restaurant, Royal Dutch Shell, Royal Dutch Shell plc, Skill (labor), Total SA, United States, unskilled, unskilled labor, Wage, Wall $treet, Wall Street, Walmart, wealth, workers | Leave a Comment »
Posted by Warm Southern Breeze on Friday, March 7, 2014
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 – 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 »
Posted in - Business... None of yours, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: abuse, Africa, Angola, BIG OIL, bribe, business, Congress, continent, corruption, Dodd-Frank, Dodd-Frank Act, drill, Energy, enterprise, European Union, Foreign Policy, gas, Global Witness, government, greed, history, human rights, ilicit, illegal, influence, international finance, law, lobby, lobbyist, Mining, money, New York Stock Exchange, news, NYSE, Offshore drilling, oil, politics, power, regulation, resources, SBM Offshore, SEC, Securities & Exchange Commission, Stock Exchange, Switzerland, U.S. Securities and Exchange Commission, UBS, United States, Wall Street, war, wealth, Weatherford International | Leave a Comment »
Posted by Warm Southern Breeze on Friday, September 28, 2012
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 »
Posted in - Politics... that "dirty" little "game" that first begins in the home. | Tagged: Colorado, dodger, GOP, income, income taxes, Internal Revenue Service, IRS, IRS tax forms, Mitt Romney, off shoring, politician, religion, Republican, Romney, tax, tax haven, taxes, United States, wealth | Leave a Comment »
Posted by Warm Southern Breeze on Tuesday, September 11, 2012
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.
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 »
Posted in - Even MORE Uncategorized!, - Read 'em and weep: The Daily News | Tagged: Banking in Switzerland, Brad Birkenfeld, crime, GOP, Internal Revenue Service, Mitt Romney, news, Republican, tax, Tax avoidance and tax evasion, tax cheat, UBS, United States, wealth, Whistleblower | Leave a Comment »
Posted by Warm Southern Breeze on Monday, September 10, 2012
WSJ chides Romney for too few policy details
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 »
Posted in - Did they REALLY say that?, - Lost In Space: TOTALLY Discombobulated, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: Barack Obama, cheat, Flip Flop, GOP, liar, Meet the Press, Mitt Flop, Mitt Romney, MittFlop, NBC, Obamacare, Patient Protection and Affordable Care Act, Paul Ryan, Republican, rich, Romney, steal, thief, wealth | Leave a Comment »
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 »
Posted in - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: abuse, BIG MONEY, Big Pharma, Bupropion, corruption, FDA, Food and Drug Administration, fraud, George W. Bush, GlaxoSmithKline, GOP, lobbyist, Medicaid, North Carolina, Paroxetine, Paxil, Political corruption, Republican, Ronald Reagan, Roy Cooper, United States, waste, wealth, Wellbutrin | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, September 2, 2012
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
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 »
Posted in - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: abuse, Bain Capital, crime, fraud, GOP, John McCain, Mitt Romney, news, Paul Ryan, Republican, Romney, United States, Wall Street, waste, wealth | 4 Comments »
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 »
Posted in - Read 'em and weep: The Daily News | Tagged: Bain Capital, Barack Obama, capital, crime, Eric Schneiderman, fraud, law, Mitt Romney, money, New York, New York Attorney General, news, politics, Silver Lake Partners, Sprint Nextel, Vestar Capital Partners, Wall Street, wealth | Leave a Comment »
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.
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 »
Posted in - Lost In Space: TOTALLY Discombobulated, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: avarice, Bain, Bain Capital, Banking in Switzerland, Bermuda, Cayman Island, Cayman Islands, George Romney, GOP, greed, hide, Mitt Romney, money, news, Newt Gingrich, Nicholas Shaxson, politics, problems, Republican, Romney, secrecy, secret, tax haven, trouble, United States, wealth | Leave a Comment »
Posted by Warm Southern Breeze on Monday, June 18, 2012
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?!
What’s wrong with this picture!?!
Out of touch with reality, or out of touch with reality?
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
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 »
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: American, Ann Romney, avarice, average, deduction, dressage, Ebeling, horse, income, London, median, Mitt Romney, mom, Olympic, Olympic Games, out of touch, Rich as Croseus, Romney, Stay at home mom, Stephen Colbert, tax, tax break, tax deduction, taxes, United States, United States Equestrian Federation, wealth, YouTube | 2 Comments »
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?
Perhaps the greater question is this: How can this be prevented?
And, this is ALL tax 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: abuse, Benny Hinn, Blab It and Grab It, California, corruption, Creflo Dollar, Crouch, Crouches, defraud, empire, excess, extravagance, FCC, fraud, humor, Jan Crouch, Jesus, Joel Osteen, Koper, lavish, Los Angeles Times, McVeigh, media, money, news, opulence, Paul Crouch, power, Protestant, religion, Trinity Broadcasting Network, video, Wall Watchers, waste, wealth, YouTube | 2 Comments »
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: candidate, election, equity, GOP, jobs, liar, Mitt Romney, nominee, politics, Republican, tax, wealth | Leave a Comment »
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: "Occupy Wall Street", #OccupyWallStreet, arrogance, corruption, Criticism of capitalism, greed, Leaderless resistance, New York City, news, Occupy Wall St., Protest, United States, video, Wall Street, wealth, YouTube, Zuccotti Park | Leave a Comment »