Former Governor Tony Earl spoke at the Monroe Arts Center and it was definitely inspiring. He's absolutely right when he says, "People can still make a difference in politics. Politics can't be a spectator sport. It might sound idealistic, but people need to get more involved."
I asked Governor Earl if he knew Rep. Spencer Black and what his opinion was of the Las Vegas loopholes, which Rep. Black said cost the state $260 million a year. Something far worse than Las Vegas loopholes is not taxing the hedge fund dealers and the fact that Ralph Nader said on the Web that the derivative market has grown to $100 trillion world-wide. Even some Republicans call derivatives "funny money."
I absolutely support Senators Clinton and Obama on taxing hedge fund dealers. It would be one way to bring revenue back into our economy rather than to offshore countries, which I'm presently reading about in a book entitled "Free Lunch" by David Cay Johnston. After last month's letter, a lady called me and said I just had to read that book which we had just gotten out of the Monroe Public Library. There's a lot of hedge fund dealers who don't want to talk about taxing hedge fund dealers because there are more than 6,500 hedge funds and a lot of these people are lawyers.
According to the book, "Free Lunch," they used to operated by "Those rules work best which are self-enforcing, rules that by their nature reward proper conduct and punish misconduct. A good example can be found in the rules that for many decades governed lawyers and accountants. Under the old partnership rules, each partner was fully responsible for the deeds of every other partner. This created incentive for lawyers and accountants to police their partners, to stick in their noses at any hint of misconduct, out of pure self-interest. The rule created a simple reality; look the other way, lose your house. But at the start of the current era of government for the rich, those rules were changed. Now we have 'limited liability partnerships.' The LLP structure rewards those who look the other way. Under these new rules, you may lose your investment in the firm itself but that is all your liability. Given the brazen misbehavior by the major accounting firms and by more than a few law firms, it is time to go back to the old rules."
If the middle class is getting disgusted with being overtaxed, and they are, they're going to have to stand up in numbers and say - enough is enough.
I asked Governor Earl if he knew Rep. Spencer Black and what his opinion was of the Las Vegas loopholes, which Rep. Black said cost the state $260 million a year. Something far worse than Las Vegas loopholes is not taxing the hedge fund dealers and the fact that Ralph Nader said on the Web that the derivative market has grown to $100 trillion world-wide. Even some Republicans call derivatives "funny money."
I absolutely support Senators Clinton and Obama on taxing hedge fund dealers. It would be one way to bring revenue back into our economy rather than to offshore countries, which I'm presently reading about in a book entitled "Free Lunch" by David Cay Johnston. After last month's letter, a lady called me and said I just had to read that book which we had just gotten out of the Monroe Public Library. There's a lot of hedge fund dealers who don't want to talk about taxing hedge fund dealers because there are more than 6,500 hedge funds and a lot of these people are lawyers.
According to the book, "Free Lunch," they used to operated by "Those rules work best which are self-enforcing, rules that by their nature reward proper conduct and punish misconduct. A good example can be found in the rules that for many decades governed lawyers and accountants. Under the old partnership rules, each partner was fully responsible for the deeds of every other partner. This created incentive for lawyers and accountants to police their partners, to stick in their noses at any hint of misconduct, out of pure self-interest. The rule created a simple reality; look the other way, lose your house. But at the start of the current era of government for the rich, those rules were changed. Now we have 'limited liability partnerships.' The LLP structure rewards those who look the other way. Under these new rules, you may lose your investment in the firm itself but that is all your liability. Given the brazen misbehavior by the major accounting firms and by more than a few law firms, it is time to go back to the old rules."
If the middle class is getting disgusted with being overtaxed, and they are, they're going to have to stand up in numbers and say - enough is enough.
