Liberal Billionaires and Their Income Taxes

                       

Rich billionaire liberals don’t mind high income taxes. At least in their public comments, when they attempt to curry favor with liberal politicians for pet business projects of their own.

                       

They never mention charitable deductions or foundation benefits that the vast majority of these billionaires enjoy. They are not too concerned with income taxes that sap the creation of wealth most already have. .

                       

They do worry about capital gains because they pay little taxes on income but have more capital gains to report. Or they have income protected to an extent by holding company exemptions. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

European Defense Depends on U.S.

                       

The Left in America always wants the U.S. to become more like Europe. That translates as more governmental control of industry and society.

                       

Despite the heavy spending and taxation for European-style socialism, the only real budgetary savings come only from defense cuts. The Administration and Congress can only give Americans this ultimate touch of Europe by reducing defense expenditures.

                       

You would think overseas citizens would eventually be pleased with this. However, Europeans may not fully realize it, but the more America acts like them, the less secure Europe will be.

                       

Europeans spend very little on defense, compared to the U.S. We are the ones they always have been able to rely on. In other words, we have been paying for their defense without much outlay on their part.

                       

Who will defend Europe if the U.S. cuts its defenses to the bone? The best most of their armed forces can now deliver is meals- on-wheels. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Unusual Business Worries

                           

Big Business worries include the usual assortment of high taxes and excessive regulations. Small business has those and more, particularly the obnoxious and unnecessary local and state licensing requirements.

                           

Can anyone truly explain why, during a deep recession, an administration in Washington would pass regulatory laws for even more tight regulations that reduce the prospects of creating jobs?

Outside of the fact the bulk of these politicians have never operated any business, not even a pushcart. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Fanciful French GDP

                           

If your country’s Gross Domestic Product or GDP is not high enough, and you are allowed to openly manipulate the statistics, just play around with the necessary numbers to make up what you need.

                           

In France, they have felt they can improve their GDP in relation to other major countries. They contemplated this by adding in “leisure” economic factors. Thus they add industries that represent leisure and not conventional productive factors used by other major nations.

                           

Of course, they will not be kidding anyone because the numbers represented would not reflect productive items of meaningful content or intent.

                           

You cannot hide the fact that a nation with almost universal retirement at age 60 or less, and so much vacation time, cannot be productive.    (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

A Corporate Director’s Responsibility

You have responsibility with potential liability if you are a corporate director. Even in a small corporation. What is more, you will not be able to easily buy insurance to cover that.

                           

Worse, were you able to buy corporate director’s liability insurance, it would not cover accusations of fraud, the liability you have to avoid the most.

Despite never committing an act of fraud in any business you are in, large or small, you can still be liable. Any worthwhile plaintiff attorney will charge you with fraud, no matter how innocent you may be, because it’s a powerful weapon.

                           

Also, you will be liable for any act other directors on the corporate board may be accused of, in relation to corporate activity. That’s called joint and several liability.    (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Are Expensive Graduate M.B.A. Degrees Needed?

                       

M.B.A. degree evaluations have come up for critique in business. I personally have always felt, from my own experience, that much M.B.As are useless, a waste of tuition, and time extravagance.

                                               

Great for networking. But then there are better ways to accomplish this.

It’s entirely useless in business. You can get an outline for administrative guidance from books. But, again from my own business experience, I can tell you M.B.A. case studies are useless in practice and the real world.

                           

Unfortunately, they're only a tag for lazy recruiters looking at a resume. Job applicants, however, can acquire that tag without years of expensive study, online and part-time. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Jobs and Anti-Business Politicians

                       

Recessions and the need for jobs never impede anti-business politicos who berate business for being “greedy” and a menace to social welfare. There is a reason for this. Such companies fit into these demagogic politicians’ plans in their bid to suck up to voters.

                       

In appealing to the lowest intellects, politicians conveniently overlook facts that companies making profits can be taxed to pay for social services being dispensed. They forget that such companies employ lots of people that politicians supposedly champion.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Politician’s Business Knowledge

   

                           

If politicians believe publicly owed companies are making outrageous profits, what is stopping the offended politicians or the public, directly or in the form of pension funds, from owning stock in them? So all can profit and not just the “filthy rich.”?

After all, many of the liberal politicos are millionaires who own securities.

That does not add up amid all the business scapegoating. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Why Bother With Bankruptcy Law?

                           

Bankruptcy law is specific in the way scarce funds are to be allocated. Until the administration set its precedent for the Chrysler bankruptcy, giving the unions favored status as its own political solution for what ordinarily would have been business contract law.

                           

Most of the general media failed to adequately mark this American constitutional turning point.

Creditors always have legitimate claims over bankrupt’s assets. But not all claims are equal when dividing assets.

                           

Why? Some lenders may have provided cheaper funds in return for a more secure claim over assets, Therefore, they rank above others, when funds are allocated among creditors. Then there are employees and stockholders to consider when disbursing funds in bankruptcy. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

The Rich Enrich The Poor, Despite Leftist Cant

                           

The unwashed, uninformed mobs demonstrate despite facts. “The poor are being robbed by the rich” is the old refrain.

                           

Whether the rich are becoming richer and the poor even poorer depends on the observer. And what the left-slanted media suggests.

                           

A November 13, 2007 report from the Treasury Department, entitled "Income Mobility in the United States from 1996 to 2005 reports an opposite slant from the usual political and media story that the rich are getting richer and the poor are poorer. A previous Treasury Department study showed similar patterns in individual income changes between 1979 and 1988. More recent studies agree.

                           

Studies of same individuals show patterns different than the patterns the Left always suggest.

                           

Similarly, a study conducted at the University of Michigan, following the same individuals over an even longer span of time, found most people move from one income bracket to another over time, especially among those who began in the bottom 20%.

                           

Example: The University of Michigan Panel Survey on Income Dynamics showed that, among people who were in the bottom 20% income bracket in 1975, only 5% were still in that category in 1991. Nearly six times as many of them were now in the top 20% in 1991.

                                                   

The Left sneers at income mobility as a myth. But the facts speak for themselves.

                           

Such misinformation feeds on the mob scapegoating of the rich. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Error of Extending Unemployment Insurance

                           

Unemployment insurance benefits have become a political football. The Left has got it all wrong again, saying once more it’s an excellent economic stimulus,

When you look back at statistics done by folks such as Laffer Associates, who have looked at actual data going back to 1972, you find that unemployment benefits do seem to keep most recipients from actively looking for work until the time benefits are ready to run out. Other studies appear to corroborate this as well.

                           

A safety net is necessary to tide the unemployed over their bad patch. A paid vacation, until they get seriously looking, is another story (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Prospective Earnings From Going-to-College

                       

Those who have employable skills will earn top dollar at jobs that employers want, even in deep recessions. Others, with their fancy- school diplomas sit around depressed for the lack of opportunity, despite all their effort toward  impressive but impractical and useless degrees.

                           

This is also evident when you compare earnings of graduates of conventional colleges, private trade schools, and two year community colleges.

Going to private trade schools or two year community colleges, where trades are taught, will provide skills that more likely will result in better earning jobs than from most college diplomas.

A college education that offers general knowledge that can just as easily be acquired in the public library or internet provides nothing practical that will assure a gainful living. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)