47 house dems want to extend capital gains cuts

[Jhhnn]

If we depended on rich people to loan us money we'd be like Mexico. Unless you come from right family the body guards will throw you out the bank loling. This is why some legislation was passed to try and take corny capitalism out. Things like SBA, fairness in lending, etc., which of course the right fought tooth and nail and is still woefully inadequate.

Not exactly. For awhile there, they'd lend to any warm body because they really didn't care about their corporate steeds- they were gettin' theirs off the top, TBTF, Greenspan put fully understood, and because they were chumping investors even faster out the back door with "innovative" MBS. Investors being pensions, endowments, 401K's, Sovereign wealth funds, anybody who wasn't them...

Investors wised up just in time to find out they were screwed, so the whole thing fell down... Did I mention that the Banksters got their cut, a really big cut, before it did? Oh yes, yes indeed.

Some day, historians will correctly refer to it as the most incredible govt sponsored looting spree in the history of finance. Well, unless they get sold into indentured servitude like the rest of us, in which case they'll have to watch what they say...

Here's the NPR story about one of those MBS- Toxie-

http://www.npr.org/templates/story/story.php?storyId=130079590&ps=cprs

 

[pcgeek11]

And this is why 'Democratic majority' doesn't mean 'Democratic majority', but rather 'Corporatist Republicans plus corporatist Democrats majority'. As I've said, we need more *progressive* Democrats to combat this.

Now that is Funny.

 

[Craig234]

Now that is Funny.

It's not, but I've had worse delusional reactions, so glad you enjoyed it.

 

[Craig234]

Yeah because the progressive Democrats don't take any corporate money. They only take money from people like Soros.

George Soros is donating for countering the anti-democratic corruption, not for his own right to pollute or his anti-democratic ideology like the Koch brothers and others.

The issue is the agenda, the votes, the progressives have which is to reign in corporatist corruption. They're the only major political group who has that agenda.

 

[Craig234]

It works for spidey07 and his ilk, so why can't it work for Craig234?

Uh, I dismiss lies, not all who disagree, as lies; I dismiss propaganda, not all posts that disagree, as propaganda. Some are idiots and can't tell the difference.

You'll notice these idiots will attack that it's 'all' posts, which says more about their not being able to tell the difference than about the posts. You'll notice a zero rate of their actually have a case that the posts are wrong.

 

[bruceb]

I agree, they should be extended.

 

[CycloWizard]

It'd be entirely possible otherwise under a different tax regime, and if we weren't engaged in protecting the overseas interests of american business, attempting to create new markets for them at gunpoint, aka the WOI.

The only things that have made Reaganomics saleable have been deficits and offshoring. We're reaching the endgame wrt both of those- the illusion is starting to fade, negative consequences come to the fore, and the reality that we've been chumped should be apparent to those who are not willfully blind.

I'm guessing you quoted the wrong post because this reply is in no way related to anything I said.

 

[piasabird]

I think the capital gains should be lower for people that work for a living; say 10%. There is a difference between some person with say $100,000 in the stock market and people that buy and sell stock for a living earning more than $2,000,000 annually.

Also keep in mind that the truly rich do not have to live in the USA to make money off of the stock market/s. If the tax rate is too high it will just drive their money overseas.