Dont shoot the messenger. Everything he says is true. Rich people get capital gains tax, and the rest of us? Its income. But it gets worse. During the re-de-pression, Goldman Sachs and Bank of America (among many others) were buying insurance on the bad mortgage securities they sold. Buying them, like a lot of people, from AIG, who didnt due proper research on the Mortgage bonds. Had they done their work, had anyone done their due diligence, we would have seen that the packaged mortgage bonds were made up of 95% sub-prime loans. We bailed out all of them because we had to. The world economy would have collapsed because of the reckless, selfless and incompetence of the financial community. But all you ever hear is how people were getting loans that they couldnt afford. They were getting their loans because banks didnt care if they failed-there was plenty of money in the transactions. Until they all failed at once-and you and I got the tab. We need a flat tax. It would work, and its fair.
Posted on: Wed, 29 Oct 2014 15:27:53 +0000
Trending Topics
Recently Viewed Topics
© 2015