This page has been archived and commenting is disabled.
Classic Santelli Rant on the Buffett Rule
One person that is actually worth watching on CNBC is Rick Santelli. Yesterday he went into a fantastic rant about just how ridiculous this "fair share" talk is, and how useless the proposed Buffett rule will be.
At least someone is trying to point out that it's a spending problem, not a revenue problem. But then again I would argue that the President already knows all of this, he's just trying to spread the wealth around, you know, like his Marxist professors taught him.
"People don't want to hear solutions, they want to change the dialogue. Bait & switch so we get more worried about what people pay, what's fair. You know how my kids opportunities are affected by how many millionaires there are? You know what I see is going to affect their opportunity? $15.6 TRILLION!"
Wait until we breach the debt ceiling again this fall Rick...
So in case you missed it, here it is:
»
- CrownThomas's blog
- 13278 reads
- Printer-friendly version
- Send to friend
- advertisements -
All taxation is theft. All non-voluntary forms of organization are criminal. Individuals will only be free when they assert their sovereignty instead of giving over their sovereignty to power brokers who promise to give them wealth earned by others.
Win
Four hundred Americans control more wealth than fifty percent of the entire country combined, or approximately one hundred and fifty million people. Is that a spending problem, too? The Buffett rule is a false debate. We've been had.
How many millionaires were created by a poor person. How mnay lives were upgraded by somoen with drive passion and a strong work ethic. Ask, Ford, Gates, Dell, Jobs. You take all of the wealth in the country and split it evenly and within 2 generations it will be back in the hands of a relative minority. If we had a true capitalist system this would still happen, but just take longer.
There will always be ants and grasshoppers.
There will always be rich and poor and
There will always be someone trying to build a business and another sitting in a corner sucling their thumbs and intermittently whining that life isn't fair and that somebody owes them something
I am not sure about all of them, but most of those people you name with a strong work ethic came from privilege, got funded by daddies friends and then took the credit off the backs of others who actually did the inventing and the work. (Ever read any of their "ego piece" autobiographies ... I have read a bunch. The story is always the same. Out of school, they started this business, worked really, really hard and no one explaines where the money came from to pay for the business, their rent, food and clothing. But it is always there and there is plenty of it They ALWAYS get funded.)
The "king" always takes the credit for what the serfs do ... don't-cha-know.
As George Carlin said: "The American Dream is a myth because you have to be asleep to believe it". Sure, there are exceptions, but they only come in limited form after signing over your free will and doing the dirty work of TPTB.
+1
Ford, Gates, Dell, Jobs all made fortunes selling to the middle class.
And they also built or enhanced the middle class
The current model causes all of the wealth to flow straight uphill. The middle class is smack in the middle of a multi-decade decline in real income and standard of living.
The current model is government and more government. When that leads to problems the offered solution is even more government. That's how the debt which Santellli rails against has grown so large.
You lead right into the "boomer problem". They were promised a restful retirement if they'd just give up their brains, their backs, and their balls to produce nirvana on earth. They were fed well while on the hamster wheel with easy credit. But when the profits were lifted as high up the food chain as possible -- oops, no money for you! Sorry about that implied/implicit promise from the big industries and government. It's easy to see why so many are disillusioned, and why so many younger folks are NOT going to pay for that cushy retirement when there is none promised to them. It's not the oldsters doing and it won't be salvaged by the youngsters. Look to the top-tiers for where the money went, both in business and in government. So, why not take some of it back by taxation? Beats me. Just using the argument that it won't eliminate the debt in one swell foop doesn't mean that it's not a fair and right thing to do.
The people doing the taxing are the one's who are creating the problem. Why would you want them to have even more power? Obviously giving even more to the chief criminals is not the fair and right thing to do.
If you believe that taxation can make a dent in the debt please present a plan which details exactly who would have to have their taxes increased and by how much. I think you'll find out that taxes would increase on everybody and that still wouldn't be enough. And increased taxation is not going to go down well with those of us in the bottom ninety percent who work and pay half of what we earn in taxes already.
And what is going to stop the politicians from spending if you give them even more revenue to fritter away? Stop thinking in terms of paying for bullshit and start thinking in terms of not buying the bullshit to begin with, both literally and figuratively.
Ha! "Present a plan..." Who? Me? Yeah, like I'm the smart one.
I just see some correlations and causations in the swirling mist, not answers.
Who really cares anyhow? It's all coming down so just butter up some more popcorn and enjoy the show.
You and I have been on the same team for a long time -- let's keep it that way.
Cheers!
What decline?
Everything now is bettter faster cheaper and cleaner than it was just 15 years ago, from cars to health care.
With two exceptions: The Federal Government and Public education.
Health care is cheaper then it was 15 years ago? What? Unless you are unionized or a government employee, that strikes me as an utterly bizarre statement.
You are not getting the same healthcare you were getting 15 years ago.
If you would accept 1960s healthcare, it would not cost much more than it did then.
Nope....
http://www.oftwominds.com/blogjuly09/healthcare07-09.html
Have you ever heard of "externalizing costs"... Look it up.
Then tax the other 150mil.
Yes, let's let the sons and daughters of a few hundred Barons and Dukes live lavish lives from generation to generation, while the bottom of our society -- one hundred and fifty million souls -- toil and pay tribute and wonder where all of the money went. Didn't we once fight a revolution over something like this?
We have been lead to believe that the US won the war. However, as usual, both sides of the war were funded by the banks (murder is profitable). In fighting the war against England, the US Corporation lost its freedom to the banks and "The Crown Corporation". The USA government has been in debt to the Crown ever since ... and we all work for the "The Crown", pay out taxes to The Crown, etc..
Since the Revolutionary War we fought two more wars brought against the people by the banks; the War of 1812 and the American Civil War. Then a "den of vipers" finally stole the last vestages of the USA from the people in 1913... and we have been on the long slide into debt slavery since then.
Freedom has always been a myth.
As Benjamin Franklin left the 'Federal Convention' of 1787 in Philadelphia, an astute lady asked Dr. Benjamin Franklin - "Well Doctor, what have we got, a republic or a monarchy?'
"A republic," replied the Doctor, "if you can keep it."
Note: Franklin loved 'France' deeply, for many reasons, other than the King's financing our fledgling republic. He loved the lights, the twilight intellectual discourse, and the women! He was a renaissance man to the nth degree, and saw that in America future - if, and only, we held to our constitutional freedoms [England?].
Ps. President George Washington's, Eminence-grise was Hamilton, a Federalist, and a ambiguous naysayer [fraught with legitimized questions] regarding america's 'Bill-of-Right', as he authored/ wrote [nom`de`plume] most of the 'Federalist Papers". Hamilton basically ran the WH, its Banking, and his undeniable patronage [sine-qua-non deposition?] post-war to British Money?
Ps2. The 'Rickster' is absolutely spot-on,... the fact that both Washington and Adams were Federalist should speak volumes in America's upstart. Jefferson, and Madison were all to aware of the danger of Federalism and aborted it [so to say] for a more fair and equitable [Democratic/Republican System] republic [oh, and by the way Adam's eventually came on board - another story] and has remained with us to this day. But, there was a brief history of the "Whigs" [1841-45 & 1849-53], that muddied up american politics for short while, only to be aborted like the Federalist as "British Trojan's?". [jmo]
Important: The founding fathers faught hard to make America "WORK"! - to, "Not-Become-a-Slave-to-Debt", which always leads to usurping freedom. This however you put-it, is the precipice that we straddle today, but,... with only one foot on solid ground and the other nearing the grave.
thankyou for the excellent post :-))
To be fair, it is not a myth. It can and does exist under the right circumstances. Government will always squash any effort to grow it however. That's why it is so important for people who love liberty to do the opposite and oppose government growth of power.
We fought a revolution for freedom from tyrrany. It was an idea whose time was a long time coming. But our grasp on the idea is tenuous at best, becuase the weakest nerve in the human soul is security. We think we would like to give our freedom away for someone to take care of us. But only fools believe that humans are infallible. And the world this nation and our congress and especially our white house is full of fucking fools. But our founders had a firm grasp on the worth of freedom, as well as those who's desire for success is strong; these people understand that liberty comes before security. In fact the second most valuable thing to liberty in the minds of these people is death it self; the antitheses of security.
Santelli speaks of Debt. These debts piled on by the left for the want of social securities, and the right for the want of national securities deliver our souls into bondage just the same. So LetthemEat, I'm not sure what you're selling but it sure smells like dinner on massa. Get the fook outta here.
I'm not selling anything. Just observing. 400 Americans have more wealth than one hundred fifty milllion Americans. And douchebags like Santelli get on their corporate owned television and tell us how the bottom half needs to sacrifice more, and that the wealthy have given enough.
If you think this is freedom, you have no idea what freedom means or why it is important.
You get the fuck out of here.
I earn my freedom one project at a time Rand http://midwest-mosaic.blogspot.com.
2010 sales = $x
2011 sales = $4x
2012 sales =$12x (based on bookings and Work in Progress) .
2012 is First year I will pay taxes, a victory because it means I got net.
I am a job creator too.
2010 EE's = 1; me :-)
2011 EE's = 2
2012 EE's = 5 currently.
Freedom is earning your economic freedom so you can go forth and create what pleases your heart. This is what I do with my freedom http://www.worththeriskblog.com.
I bootstrap my own ventures. http://www.worththeriskblog.com/ventures/
Here's the fruit of my economic freedom Rand, because while I bust my ass laying tile, I don't do it 9 to 5 over 50 weeks a year, http://www.mousehousestudios.com/ I make hay while the sun shines, just like our agrarian founders.
And when I'm not laying tile, Rand, I'm creating other things of value, things that please me. Things I know please others, because they buy what I'm selling.
I have freedom because I make a profit.
I am a capitalist; you are a socialist.
The more you raise taxes for your redistribution schemes, you screw me and my freedom, and you prevent me from creating jobs.
The more you increase regulations you effect the same.
The more you protect the status quo (fed grants to bankrupt state and local govt's/bank bailouts), via supranormal deficit spending, the more you commit my precious and still quite meager profits to debt service. When will enough be enough that I can create no more jobs Rand?
And the more you permit the fed to be the buyer of last resort of debt, you destroy the purchasing power of my profits. Because unlike bankers I am about the last person in line for new money issuance. By the time the cash actually hits my hands it is already worth far less than it was when I took on a project. I wish I could quote jobs deliverable in oz of Gold.
You say I know nothing of freedom. You don't no shit from shineola about freedom, Rand.
I am freedom incarnate; and you are the devil.
I follow my dreams, you crush them.
Wow, that's so inciteful, LetThemEatRand....
In fact, it's the same thing Stalin told HIS people.
Well done, Comrade!
That's how it begins- little tools feel empowered by a delusional epiphany of Eutopia.......
Why do you keep using the words "control" and "have" when talking about other people's money? The proper words are "earned" or "stole". If they stole the money they broke the law. It's the govt's job to enforce the law. I don't care how many billions Gates is worth, or anyone else. Doesn't affect me in the least, doesn't hurt me. You are a loser. You want to confiscate the labor and production of others and give it to yourself.
I think you are very naive if you believe that it is the government's job to enforce the law. Under all circumstances governments confiscate the labor and production of other. Also under all circumstances those who lend money confiscate the labor and production of others. Also, under all circumstances those who get rich from employing people get that way by disproportionately benefitting from the labor of others. THEY GET MORE FROM THE LABOR THAN THE PEOPLE GET THEMSELVES.
It would be nice if we lived in a fairyland where governments were fair and gave people equal protection under a civil law. That is not where we live and those in power benefit disproportionately to those who are not in power and the main job of those people in government is to make sure they stay in power and pass that power down to their heirs. (You don't also believe in the fairytale of fair and free elections do you?)
where is jon corzine....the democrat hoodlums and their paid boogey men the republicans are our masters. how did the chicago hoodlum and frequent vacationer get to where he is ...the banks. this charlatan and all who support this monolith nazified government should be shot
The more government grows, the more fascist it becomes. The more it grows, the more big business controls it. There's no escaping that process. This is why government needs to be strictly limited and controlled. It worked for a while, and it would work again too. We just need to put our federal government back into the box it was meant to be kept in. That's not going to happen without a lot of bloodshed however.
Please cite the portion of the video in which Santellli asks the bottom half to sacrifice anything.
Rick has it right.
It's the spending.
not entirely, it's the corruption. and the parasitic nature of banks, multi-national corporations, the fed, and the congress they bought off. Take a look at a wealth distribution chart over the last few decades. Then consider all the lobbying, revolving dooring, and bribing that was done. And then tell me it's coincidental.
...and the function of interest charged by the federal reserve to use their money...and since we are being charged interest, where does the money come to pay the interest if we borrowed the very first dollar?... Oh! Got to borrow more!!! ...duhhhh...
Was going to give you a +1 then looked at your avatar.
Absolutely right.... the Federal government has gone off the deep end....no one back in D.C. asks whether a new program is affordable, they just do it. Another war, no problem, just go ahead. Another buraucracy, fine, add it.
Here's one example I noticed rcently....I live in Santa Cruz Co. CA....a small county, not many people, low crime etc. Yesterday I I drive by the county's sheriff's office and parked there is a huge brand new BOMB DISPOSAL van. I noted to someone that it was an insane waste of county funds, to which they replied, not to worry it was paid for by the Federal Government. I figure that for this one bomb van I saw, there must be about 500 others scattered around the country in counties like mine that have never had nor never will hav any need for such thing.
AND I just have to wonder if this is the attitude of those spending our money, we are never going to ever return to a balanced budget. I totally agree with Rick's rant....the problem is spending by the Feds and also by other so inclined bureaucrats.
We live with a debt-based currency system in a world where the economy is beginning to contract. There is not much new real-world collateral to monetize. Derivatives and derivatives of derivates are all that is left to keep currency circulating. Your counties' van is worthless (No one would buy such an absurd vehicle for real money that they had to earn). The bond that paid for it, however,... well now that is worth something. What an insane world!!!
You think Rick is against the bomb disposal van? He works for CNBC for God's sake.
Or maybe the truth is in the middle. Wealth has been flowing straight upstream for forty years. That does not make for a healthy society. Every King and Queen who ever looked down from their palace with disdain at the filthy lazy peasants just before an uprising was quite sure that the peasants had what they deserved, and royalty what they deserved.
Dude, what are you babbling about? Wealth has been "flowing upstream" for 4000+ years- what the HELL Eutopia are you referencing 40 years ago?
If the 1%ers had earned their money fair and square I would have no problem with it. If they were great inventors and founders of businesses from scratch.
However, by and large they haven't earned it, they stole it through cronycapitalism and cleptocracy. All stolen.
So fuck them, I have no problem with the gov stealing from them through taxes. Maybe they'll learn what it feels like to be robbed.
For the most part, they got their money via the most corrupt government in history, a government so corrupt that taking bribes from the barons is required just to stay in office. With few exceptions, if you're an honest politician you are outta' there. So why not let the worm turn?
Let Goldman Sachs and JP Morgan Rule the World again.
The sooner they blow up this mess the sooner we can actually invest.
Just don't forget. We will bail them out again too.
And they can get richer again too.