May 26, 2011
As the economy was failing, at the end of 2008, my mother was worried about her investments. We looked into what was happening and figured a crash was coming. Knowing how capitalism and markets work we felt it was time to get out. It cost and she lost money but felt better. When the big crash came she felt even better because she had done the right thing. Then you came to her and the rest of the American taxpayers and used their money to bailout the financial sector saving the same people that gambled and cheated our country into an economic crash. You added insult to injury. You socialized loses and capitalized profits. Look at those bonuses! Those doing the right thing got penalized. What has America become? Then to top it off you gave the same people that caused the problem, that you bailed out, a tax break and now want the poor to pay for their tax break. I call that taxing the poor to give to the rich. Capitalism for the poor and socialism for the rich is the new America..
Government pensions are NOT the problem, where did all the money go that was in each state's government retirement account? Risky investments funneled to and thru Wall Street. Here today, gone tomorrow.
Speculative derivates on gas and oil end up with a higher gas price at the pumps. I call this a speculative derivatives Wall Street tax on consumers To feed their greed.
Stop treating hedge fund and private-equity manager’s income as capital gains subject to only a 15 percent tax.
Tax algorithmic trading or automated trading, also known as algo trading, black-box trading, high-frequency trading or robo trading one cent on the dollar to pay for national health care.
Place a capital gains tax at a very high rate on any profits from securities held for less than a minute.
ts, where one gambler bets with another that a particular firm will fail). The closer a bank comes to failing (such as in failing to pay of its bond debt), the bigger the spread on credit default swaps.
Thank you for considering my comment,
jack pratt
gerber, CA