Archive for May 6th, 2012

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At an annual meeting for shareholders of Berkshire Hathaway in Omaha, Nebraska, Warren Buffett, the world’s third richest person said, “When we are asking for shared sacrifice from the American people, I would at least make sure that the people with these huge incomes get taxed at a rate that is commensurate with the rate they got taxed at not long ago.”

That makes a ton of sense. Low tax rates on the rich are job killers. That’s because CEO’s are under more pressure to cut jobs and ship them overseas in order to jack up profits to attract all that excess money. That’s why the Bush tax cuts have been a total disaster. They were the straw that broke our economic back in the USA. You’ll notice job creation since these tax cuts is negative and even worse than that when only private sector job growth is analyzed. This issue is more fully elaborated on in The Rigged Game: Corporate America and a People Betrayed.

Warren Buffett on Shared Sacrifice

Bill Gates and Bono were among the 35,000 people attending this meeting.

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Amanda Fritz for Portland City Commissioner

For the last four years, Mayor Sam Adams has refused to give City Commissioner Amanda Fritz a significant city bureau to manage, most likely because he is a puppet of wealthy special interests and she is not. That is something that rich developers, otherwise known as the powers behind the throne, cannot tolerate. They want her isolated and rendered irrelevant. That means she is focused on delivering city services to the people, rather than opening up the city coffers to developers in the form of profitable boondoggle projects that don’t do much good. Fritz’s opponent, Mary Nolan, is a well heeled lap dog of developers, so if she is elected we can expect business as usual with the developers in control of city hall. It’s strange. The developers love and trust Adams, but I wouldn’t trust him in the city bathroom with my teenage son, especially on city time. So vote for Fritz for good government; vote for the developers and boondoggle projects by voting for “Boondoggle” Mary Nolan.

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Exit polls in Greece suggest the Greek people have decided get rid of their government of the bankers. The government has virtually no ability to engage in fiscal policy to stimulate the economy because they’re tied into the euro, which is controlled by the high powered Germans. The euro is a failure since the Greeks have been forced to cut their social safety net in order to secure loans from banksters to pay off bonds that are coming due. The result of this “austerity madness” has been a worsening economic crisis, further deepening the economic disaster, and ordinary folks are paying the price. Now they’re justifiably mad.

Click here for "Greeks Kicking Out Their Worthless Government"

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