Posts Tagged ‘wealth’
Posted by Warm Southern Breeze on Monday, February 6, 2017
Nick Hanauer, a multi-billionaire about whom few have likely heard, authored a highly publicized article not too long ago warning about wealth inequity. Increasingly, the wealthy are realizing that a strategy of cutting taxes upon the wealthy and their corporations is not a recipe for American success, precisely for the reason that it adversely affects economic infrastructure, and jobs, among other damages.
However, one needn’t be wealthy to realize and understand that money, and the unreasonable desire for it known as avarice (an extreme form of greed), and the unwieldy power that accompanies it, are corrupting influences in any nation, and particularly in our United States because of SCOTUS ruling in the 2010 Citizens United v Federal Election Commission decision which 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. | Tagged: 14th Amendment, avarice, billionaire, business, Canadian Alliance candidates 2000 Canadian federal election, capital, Citizens United, Citizens United v. Federal Election Commission, Congress, Constitution, Constitutional rights, economic infrastructure, entrepreneurship, equal protection, Equal Protection Clause, Federal Election Commission, First Amemendment, freedom, greed, income, Jeff Bezos, jobs, justice, law, Liberty, money, Nick Hanauer, poor, poverty, rights, SOCTUS, state, taxes, Washington, wealth, wealthy | Leave a Comment »
Posted by Warm Southern Breeze on Tuesday, December 6, 2016
Fact is, “ObamaCare” – which is properly known as the Patient Protection and Affordable Care Act, or ACA for short – though it’s monikered with POTUS Obama’s name, was largely a Republican brainchild from the über-conservative Heritage Institution.
The cornerstone of the act is predicated upon two items which are the very heart of the act: 1.) Guaranteed Coverage, and; 2.) Community Rating.
In was, in essence Read the rest of this entry »
Posted in - Business... None of yours, - Do you feel like we do, Dr. Who? | Tagged: ACA, Affordable Care Act, avarice, Big Pharma, business, competition, costs, enterprise, Free Market, greed, health, health insurance, healthcare, hospital, insurance, market, Medicare, Medicare for All, medicine, money, monopoly, Obama, Obamacare, oligopoly, power, PPACA, premiums, profit, rates, Return On Investment, ROI, shareholder, single payer, Wall Street, wealth | Leave a Comment »
Posted by Warm Southern Breeze on Thursday, May 26, 2016
The Mosaic Scriptural principle (which is also referenced in the New Testament) that “you should not muzzle the ox that treads out the grain” is certainly a principle with and by which we should compensate people for their labor. However, there is little disagreement that the committees that set the rewards far too often overcompensate those whom are charged with organizational oversight.
There is something to be said for fair and just compensation according to the terms of a contract, and the wishes and desires of those whom issue them.
Why then, is it that when Read the rest of this entry »
Posted in - Business... None of yours, - Faith, Religion, Goodness - What is the Soul of a man? | Tagged: boards, business, compensation, employee, executive, greed, income, money, power, salary, wealth | Leave a Comment »
Posted by Warm Southern Breeze on Thursday, August 20, 2015
In 9 Sins the Church Is Okay With, Frank Powell asks “Are we changing the Bible to fit our culture or are we changing our culture to fit the Bible?”
“What if the big sins, you know the ones you try hardest to avoid, aren’t the greatest threat to your joy and the church’s mission?
“Maybe it’s the sins lying underneath, the ones considered normal or acceptable, the ones going undetected, that are affecting the church the most.”
His questions are, of course, spot on.
In fact, one could hardly argue with the evidence which consists of vast, tax-free empires built upon the backs of the faithful by the likes of:
Joel Osteen (USA) Net Worth $40 Million;
Robert Tilton (USA) Net Worth $830 Million;
Benny Hinn (USA) Net Worth $42 Million;
Joyce Meyer (USA) Net Worth $8 Million;
Kenneth Copeland (USA) Net Worth UNKNOWN (has claimed he’s a billionaire, no such public records exist documenting his claim);
Creflo Dollar (USA) Net Worth $27 Million;
Eddie Long (USA) Net Worth $5 Million;
Randy & Paula White (USA) Net Worth $2 Million;
Joseph Prince (Singapore) Net Worth $5 Million;
Chris Okotie (Nigeria) Net Worth $10 Million;
Matthew Ashimolowo of Nigeria Net Worth $10 Million;
T.B. Joshua (Nigeria) Net Worth $15 Million;
T. D. Jakes (USA) Net Worth $18 Million;
Paul (late) & Jan Crouch (USA) Net Worth (estimated TBN $1 Billion+);
Chris Oyakhilome (Nigeria) Net Worth $50 Million;
David Oyedepo (Nigeria) Net worth: $150 Million.
Obviously, their “prosperity gospel” message is working quite well for them.
For others, no so much.
And that’d probably cover Avarice, Hubris, and Boasting – or, if you prefer, Greed, Extravagance, and Pride.
But there again, our nation’s laws actually encourage greed through religion by not taxing churches. In fact, John Oliver recently pointed out that “U.S. tax law allows television preachers to get away with Read the rest of this entry »
Posted in - Faith, Religion, Goodness - What is the Soul of a man? | Tagged: 7 Deadly Sins, Benny Hinn, charlatans, churches, Creflo Dollar, exemption, faith healers, fraud, greed, IRS, Joel Osteen, Kenneth Copeland, law, liars, money, non-profit, preacher, pride, Prosperity Gospel, Protestant, religion, rich, Seed, sin, tax, taxes, televangelist, wealth | Leave a Comment »
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 »
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