Hypocrisy of the One Percent (19 posts)

Thread tags: Suckers!
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  • Profile picture of drilnliftcrude drilnliftcrude said 1 year, 7 months ago:

    “When President Obama needed a business executive to come to his campaign defense, Jim Sinegal was there. The Costco co-founder, director and former CEO even made a prime-time speech at the Democratic Party convention in Charlotte. So what a surprise this week to see that Mr. Sinegal and the rest of the Costco board voted to give themselves a special dividend to avoid Mr. Obama’s looming tax increase. Is this what the President means by “tax fairness”? Specifically, the giant retailer announced Wednesday that the company will pay a special dividend of $7 a share this month. That’s a $3 billion Christmas gift for shareholders that will let them be taxed at the current dividend rate of 15%, rather than next year’s rate of up to 43.4%—an increase to 39.6% as the Bush-era rates expire plus another 3.8% from the new ObamaCare surcharge.”

    “One of the biggest dividend winners will be none other than Mr. Sinegal, who owns about two million shares, while his wife owns another 84,669. At $7 a share, the former CEO will take home roughly $14 million. At a 15% tax rate he’ll get to keep nearly $12 million of that windfall, while at next year’s rate of 43.4% he’d take home only about $8 million. That’s a lot of extra cannoli. ”

    “This isn’t exactly the tone of, er, shared sacrifice that Mr. Sinegal struck on stage in Charlotte. He described Mr. Obama as “a President making an economy built to last,” adding that “for companies like Costco to invest, grow, hire and flourish, the conditions have to be right. That requires something from all of us.” But apparently $4 million less from Mr. Sinegal.”

    “To sum up: Here we have people at the very top of the top 1% who preach about tax fairness voting to write themselves a huge dividend check to avoid the Obama tax increase they claim it is a public service to impose on middle-class Americans who work for 30 years and finally make $250,000 for a brief window in time.”

    “If they had any shame, they’d send their entire windfall to the Treasury.”

    http://online.wsj.com/article/SB10001424127887324705104578149012514177372.html?mod=googlenews_wsj

    Suckers!

  • Profile picture of Geoffrey Thorpe Geoffrey Thorpe said 1 year, 7 months ago:

    Hypocrisy of the one percent? You make the assumption that those of us who are liberal leaning and financially successful and well off don’t play the game as well as you do. Sounds like a smart business decision to me. Them’s the rules, we play the game.

    Now, if you want to discuss hypocrisy, how about that the wealthiest 400 individual Americans possess the same wealth as the bottom 200 million? And yet have far more say in how governments at all levels of the country are run…except at the ballot box.

  • Profile picture of limalimamike limalimamike said 1 year, 7 months ago:

    those same 400 individuals have also donated to your boy’s campaign too.

  • Profile picture of Groucho Groucho said 1 year, 7 months ago:

    mike, let’s drop the “boy” crap, OK?

  • Profile picture of Deleted User said 1 year, 7 months ago:

    mike, boy is appropriate if you choose. If Groucho doesn’t like it, tough cookies, he can bite my shorts and yours too.

  • Profile picture of Geoffrey Thorpe Geoffrey Thorpe said 1 year, 7 months ago:

    Actually, the top 400, while they did financially support some Democratic candidates, mostly overwhelmingly supported Republicans in the latest election.

    http://themonkeycage.org/blog/2012/05/27/more-on-the-politics-of-the-super-rich/

  • Profile picture of limalimamike limalimamike said 1 year, 7 months ago:

    Because they know who is pro business, and who is going to not only mess with their livelyhood, but also force more regulation, creating a more expensive product

    Socialism failed hundreds of years ago, people fled USSR for the US

    Where are we going to flee?

  • Profile picture of Geoffrey Thorpe Geoffrey Thorpe said 1 year, 7 months ago:

    Okay, first, you tell me the 400 gave money to my ‘boy,’ to use your racially-charged epithet. Then, you tell me they’re ‘pro business, and who is going to not only mess with their livelyhood (sic)’ and ‘force more regulation, creating a more expensive product’.

    I really don’t think they’re all that worried about the more expensive product. What they’re worried about is their outrageous wealth, outrageous salaries as CEOs, and figuring out more and better ways to rip off the rest of us. They blame regulations, and uncertainty, and the ‘tax and spend’ Democrats.

    It’s all bull. They charge what they charge because that’s what the market will bear. If anything, they use those factors as cover…much like some here do…insurance premiums go up every year…suddenly it’s ‘Obamacare’s fault.’ How then to explain all the premium increases over the past two decades prior to Obamacare? Which hasn’t fully been implemented, anyway?

    As to your other point: Socialism failed? Tell that to Sweden, Denmark, Germany, the UK, Canada, Japan, South Korea, Norway…we have certain aspects of socialism and they’ve worked quite well. Even aspects of capitalistic society feature socialism (example: the cost of shipping one envelope of papers overnight anywhere in the country would cost me thousands, if I had the only envelope…however, because FedEx and UPS combine hundreds, thousands of shipments together at one time, each of us gets a far lower rate than we would otherwise. Socialism!)

    Also, suddenly we’re all worried about the economic powerhouse known as China. Last time I looked, it’s a communist country. How on earth did they achieve that economic dominance if they’re a socialistic/communist country? Since this is obviously the greatest nationonurthinhistoryUSArockz!

    I see two failures posted in your reply, in history and mathematics: the USSR collapsed only about 20 years ago, not hundreds. And it wasn’t due so much to socialism, or Reagan, or Bush I, as much as it was with an economy that was so dependent upon very high oil prices that it couldn’t survive if prices fell. Which they did.

    Finally, I’m not sure where you’re going to flee, LLM (though I have a few ideas, but I’ll keep them to myself), and especially since you work in an absolutely socialistic system known as public education.

    Pot, meet kettle.

  • Profile picture of Deleted User said 1 year, 7 months ago:

    Goofry, your absurd analysis is so far out in left field you couldn’t find the bleachers with the Hubble telescope.

  • Profile picture of Geoffrey Thorpe Geoffrey Thorpe said 1 year, 7 months ago:

    Andy: I can certainly find an uninformed, unintelligent bigot, though, since I can always count on you to chime in with vitriol after a post. I must really get under your skin.

  • Profile picture of Deleted User said 1 year, 7 months ago:

    It’s not you so much as the abject stupidity of the crap you post.

  • Profile picture of Deleted User said 1 year, 7 months ago:

    “uninformed, unintelligent ”
    Tell you what Goofery, I’ll stack my education, earning power, overall track record, and net worth up against yours any day. Show me what ya got.

  • Profile picture of Geoffrey Thorpe Geoffrey Thorpe said 1 year, 7 months ago:

    Not that it matters any, but okay, bachelor of arts degree, low to middle six figure annual income and net worth of slightly more than one million. And I don’t have to resort to the childish habit of intentionally misspelling someone’s name.

  • Profile picture of SWVoice SWVoice said 1 year, 7 months ago:

    “And my dad can beat up your dad” !!

    Comparing incomes !! Really — C’mon guys, really !! LOL

    (Now I’ve stirred up a hornets nest, sorry guys, just thought it was funny).

  • Profile picture of Deleted User said 1 year, 7 months ago:

    Of course it counts. ME degree, mid six figure income when I hung it up ten years ago, and a net worh of about 2.6 Mil with zero debt. Just your average greedy white guy that pays about $30k a year in taxes. I Sat down with my broker yesterday and re-structured the portfolio. And yes, I’ll take advantage of every tax loophole I can find and I can tell ya there are not to many for me and will probably be less when obie and crew get through with us. I like all investors take the risk. If I win obie wants 40% to piss away on redistribution. If I loose it’s pretty much tough cookies.