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Today's Examination Of Yesterday

Tyler Durden's picture




 

Via Mark J. Grant, author of Out of the Box,

“Until we can re-establish a condition under which the earnings of the people can be kept by the people, we are bound to suffer a very severe and distinct curtailment of our liberty.”

                    -Calvin Coolidge

I left yesterday for the bobbling heads. Those small dolls resident in the back of car windows that nod up and down as you go over every bump in the road. I left yesterday for the media spinners. Those that are paid to turn diamonds into lumps of clay and then back again by the glittering facets of their arguments. I left yesterday to the artists of verbiage that weave arguments of their own accomplishments much as the artists of Three Card Monty hide the truth behind their shells. I left all of that for yesterday so that today we could examine the reality of that which we have been presented.

Yesterday we had a nice rally in the equity markets. No surprise; the sigh of relief was palpable that Congress did something, anything to address our fall over the cliff. I would not get too excited however. We raised taxes, we penalized those succeeding and we did it in a meaningful manner. We did not cut the national debt as sung by the chorus across the airwaves. In fact, according to the Congressional Budget Office we decreased revenues by $3.6 trillion over ten years. We did not protect the middle class, but because of the expiration of the payroll tax decrease, Federal taxes will rise for 77% of all working Americans. Thus we rewarded non-working Americans at the expense of those with jobs. For those that are truly succeeding, making over one million dollars, we increased their taxes by $171,300.00 on average which becomes a disincentive to progress or a very good reason to explore tax avoidance and gimmickry. We still face “sequestration” in March and the “debt ceiling” in February and nothing was done to curtail our social and entitlement programs that cannot be afforded without even more debt and mountains of it regardless of all of the new taxes. The game was the continuation of postponement and avoidance and reckless governance of the nation.

The spin is that the increase in taxes on capital gains and dividends will rise from 15% to 20% (a 25% increase) but this is not accurate. Under the Affordable Care Act, which is in effect today, there is another 3.8% tax which raises taxes on capital gains and dividends to 23.8% which is a 37% total raise. So much for the value of appreciation and the value of dividends if you start out yards behind the eightball. Then you can feel very proud of our President and our Congress because they feathered the nests of so many peacocks in the process. GE’s tax bill was lowered along with several other companies with the $111.2 billion extension for off-shore financing. How about $78 million for Nascar, $248 million for films and TV programs in additional depreciation and $222 million in a special exemption for imported rum.

Unintended consequences

One of the unintended consequences of all of these new taxes may be a population shift in the United States. Many people in higher income states like CA, NJ, NY or CT will be paying well over 50% now between Federal taxes (39.6%), the rise in Social Security taxes (2.00%), the new Obamacare tax (3.8%) and the increase in Medicare taxes (1.45% to 2.35%). Add to this state income taxes and many people in those states will be paying 50-60% of their income in combined taxes. These are levels of taxes where not only disincentives come into play and where tax chicanery is multiplied but where people and possibly corporations will change locations based upon what the various governments take from their pocketbook.

The Best Bet

There was lots of talking about it and speculation was rampant but Municipal bonds were left alone in the new legislation. The major indices for Munis had declined around 3.5% prior to the new laws but yesterday, when long Treasuries were off 1.75 points, these same indices were up around one point. I have long suggested buying Municipals as many credits are cheaper than corresponding corporates on an apples to apples yield basis given the ratings. Forget the tax consequences; the absolute yields on many Municipal bonds are better than equally rated Corporate or Mortgage backed bonds. Municipals now represent the last large pocket, the last asset class of investments, where tax exemption may be found and this is now far more important than it was on he final day of the last year. I suggest getting in now because Muni’s will compress and keep compressing against Treasuries and there is very good value now to be found here.

“This country would not be a land of opportunity; America could not be America, if the people are shackled with government monopolies.”

                          -Calvin Coolidge

 

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Thu, 01/03/2013 - 11:07 | 3118566 mrktwtch2
mrktwtch2's picture

just trade..lol

Thu, 01/03/2013 - 11:09 | 3118578 Fredo Corleone
Fredo Corleone's picture

Wednesday's action illustrated the fluid bounds between "relief rally" and short covering.

Thu, 01/03/2013 - 11:37 | 3118653 IvyMike
IvyMike's picture

Who wants a damn job anyway? http://www.whywork.org/

Thu, 01/03/2013 - 12:11 | 3118788 GCT
GCT's picture

Ivy I do not care who works and does not as long as I do not have to support them.  Thats the problem now the media glorifies being unemployed as the new norm and how to have a great lifestyle leeching off the productive.  What a fucked up world we are living in these days. 

We will all be employed by the government at some point in time.  After all the collective voted for this way of life.  They must first totally disarm the populice for this to happen. Once done NWA is complete.

Thu, 01/03/2013 - 12:38 | 3118846 IvyMike
IvyMike's picture

The real parasites are the self-styled "producers" who imagine they've led "progress."

"Our system of private property in land FORCES landless men to work for others; to work in factories, stores, and offices, whether they like it or not. Wherever access to land is free, men work only to provide what they actually need or desire. Wherever the white man has come in contact with savage cultures this fact becomes apparent. There is for savages in their native state no such sharp distinction between "work" and "not working" as clocks and factory whistles have accustomed the white man to accept. They cannot be made to work regularly at repetitive tasks in which they have no direct interest except by some sort of duress. Disestablishment from land, like slavery, is a form of DURESS. The white man, where slavery cannot be practiced, has found that he must first disestablish the savages from their land before he can force them to work steadily for him. Once they are disestablished, they are in effect starved into working for him and into working as he directs."

~Dr. Ralph Borsodi
This Ugly Civilization (1929, Simon and Schuster)

The parasites include Ayn Rand, who brazenly stated she had THE RIGHT TO TAKE.

"[The Native Americans] didn't have any rights to the land ... Any white person who brought the element of civilization had the right to take over this continent."

~Ayn Rand
US Military Academy at West Point, March 6, 1974

Thu, 01/03/2013 - 12:54 | 3118944 trav777
trav777's picture

The savages didn't have any land...they just occupied it from time to time.  Made no real use of it.

Unlike you, I like electricity and roads.

Civilizations yield to other civilizations; it is a part of the cycle of life.  Nobody owns the land, they only own what they can defend against someone else.

Fuck you and all you who are inimical to nature and evolution.

Thu, 01/03/2013 - 13:07 | 3118977 IvyMike
IvyMike's picture

Civilization = city-Statism.

If you're in love with Statist Society, so be it; civilization is definitely here to stay.

Yet the freedom of pre-civilized society is gone forever too; paleolithic society was one where people were, as these two references both state:

"autonomous and sovereign"

~Elman R. Service (1975), Origins of the State and Civilization: The Process of Cultural Evolution. New York: Norton. [Online excerpt here: NON-STATE AND STATE SOCIETIES]

"autonomous and sovereign"

~Christopher Boehm (1999), Hierarchy in the Forest: The Evolution of Egalitarian Behavior. Harvard University Press.

Enjoy your 'lectric, city-statist (civilizationist,) but it's a poor substitute for an autonomous and sovereign lifeway.

Thu, 01/03/2013 - 14:01 | 3119213 piceridu
piceridu's picture

How anyone could give a down arrow for the above facts is beyond me. Whether you agree or not, it is simply the truth. 

Wage slavery is the white man's way.

Thu, 01/03/2013 - 12:10 | 3118787 SheepDog-One
SheepDog-One's picture

Just 'trade'? Hey whatcha got to trade there fella...some old bubblegum wrappers you say? OK I'll gives ya 2 wooden nickels fer 'em.

Thu, 01/03/2013 - 11:09 | 3118569 BLOTTO
BLOTTO's picture

We are being ruled by scum that think* its their divine right to rule over us. Occult shit show.

.

They dont fuckin give a shit about the good of the people.

.

'They' follow sacred geometrey, numerology and astrology. Once you recognize the signs that they follow - it sticks out like a sore thumb...

.

Sun-worshippers

Thu, 01/03/2013 - 11:13 | 3118592 Tsar Pointless
Tsar Pointless's picture

What would you expect? Ever looked at how Washington D.C. is plotted? Or some of the names we have for cities around D.C. (Hint: Alexandria is one of them.)

Talk to your fellow citizens. Ask them about the sun and the heat. They'll love both of them, I'll bet you.

All of the co-workers with whom I've ever worked have. They are sun worshipers.

I tell them we're just like the ancient Egyptians in that sense, and marvel in the hazy glaze that glosses over their eyes.

Thu, 01/03/2013 - 11:17 | 3118601 odatruf
odatruf's picture

Blotto - why wouldn't they think it was their divine right?

Reelection rates are normally above 95%. Having a certain family name nearly guarantees election no matter how dim you might be (I am looking at you Joe Kennedy the Third). There are no consequences for enacting stupid policy.

Given the above, why would you think anything other than that you were ordained to such luck?

 

Thu, 01/03/2013 - 12:12 | 3118785 BLOTTO
BLOTTO's picture

I think it goes deeper than that my fellow ZedHeds...

.

We can't stop half-way down the lineage of just a few hundred years.

You need to go/get right to the beginning of the Mother of All Family Trees to discover who is ruling the show and why. And yes, thats easier said then done.

.

ALL the presidents have ties to the European blood lineages of importance.

.

Presidents are born, not elected.

Just with that alone - voting is futile.

 

Thu, 01/03/2013 - 12:42 | 3118790 IvyMike
IvyMike's picture

Divine right, you say?

What about your Divine Right to Property?

"...an account of those grants God made of the world to Adam, and to Noah, and his sons, it is very clear, that God, as king David says, Psal. cxv. 16. has given the earth to the children of men..."

~John Locke, Second Treatise, Of Property, 1689

"To date, however, no philosopher has ever successfully divorced Lockesian property rights from monotheism."

~Jason Godesky, The Right to Property, July 18, 2005

Thu, 01/03/2013 - 11:22 | 3118618 DosZap
DosZap's picture

The game was the continuation of postponement and avoidance and reckless governance of the nation.

 

All predesigned to destroy the Republic.Nothing to see move along......................

Thu, 01/03/2013 - 11:24 | 3118629 duo
duo's picture

It would be interesting to know how many of the $400K+ crowd are in finance, banking, or real estate.  I'd bet 80% or more.  Too bad we can't tax the earnings from fraud, I mean finance, at a different rate.

Thu, 01/03/2013 - 12:12 | 3118795 SheepDog-One
SheepDog-One's picture

Well BLOTTO technically anyone who celebrates Christmas and Easter and all the rest of the Christian 'holy-days' are sun worshippers as well. Thats all 'Christmas' is the winter sun solstice.

Thu, 01/03/2013 - 12:44 | 3118888 BLOTTO
BLOTTO's picture

Well the majority of those people - have their hearts in the right place...they just dont realize whats going on.

.

Brilliant on 'their' part SD-1... have the masses celebrate occult/pagan festivals by giving it a 'good' story.

The biggest central figure to the kids on Christmas is not J.C., but rather Satan Santa Claus.

.

Yes, we are being governed by time and space on their part. The calendar rules us.

Whats next on the 'calendar'? Oh, thats right 'Ground Hog Day' or as the occultists know it as - Imbolc.

.

Imbolc was believed to be the day the Cailleach — the hag of Gaelic tradition — gathers her firewood for the rest of the winter. Legend has it that if she wishes to make the winter last a good while longer, she will make sure the weather on Imbolc is bright and sunny, so she can gather plenty of firewood. Therefore, people would be relieved if Imbolc is a day of foul weather, as it means the Cailleach is asleep and winter is almost over.

Blotts: That sounds exactly like GroundHog day and when the furry bastard comes out to see or not see his shadow.

.

Just give everything a cute name, and/or add a furry critter/fat pipe smoking man that loves kids - but has none of his own...and its just a fuckin circus on this planet. Lets go sit on his lap and take pictures and in 25 years from now wonder what the fuck is going on?

.

Yule = Christmas

Imbolc = GroundHog day

Ostara = yup, Easter

Beltane Day = May Day (popular holiday in Europe)

Midsummer = Summer Eq

etc...

Samhain = Halloween

http://en.wikipedia.org/wiki/Wheel_of_the_year

.

Yet the masses sleep - no questions being asked. Society demands you participate or look nuts to the masses if you dont.

Brilliant.

 

 

Thu, 01/03/2013 - 11:08 | 3118570 Tsar Pointless
Tsar Pointless's picture

Oh shit!

The Dow is in the red! Please, quick - somebody, do SOMETHING!

For the love of the children and God and Amerikkka!

Thu, 01/03/2013 - 11:33 | 3118645 What is The Hedge
What is The Hedge's picture

......and the widows! Don't forget the widows!!!

Thu, 01/03/2013 - 11:12 | 3118573 Vagabond
Vagabond's picture

A rise from 15% to 20% is a 33% increase.  A rise from 15% to 23.8% is a 41.3% increase.

Thu, 01/03/2013 - 11:42 | 3118668 Schmuck Raker
Schmuck Raker's picture

Thanks for mentioning it. I thought I was the only one.

 

Thu, 01/03/2013 - 12:14 | 3118804 Manipuflation
Manipuflation's picture

0.238 - 0.15 / 0.15= 58.6

Thu, 01/03/2013 - 12:17 | 3118821 Vagabond
Vagabond's picture

Right.  My fault.

Thu, 01/03/2013 - 11:12 | 3118579 otto skorzeny
otto skorzeny's picture

when you add in ALL taxes(real estate taxes,10% on anything you buy,utility taxes etc)-it is MUCH higher. also -you have to be crazy to pile into the muni bond market

Thu, 01/03/2013 - 11:11 | 3118582 1100-TACTICAL-12
1100-TACTICAL-12's picture

Man the pitchforks, enough is enough.

Thu, 01/03/2013 - 11:12 | 3118587 brokesville
brokesville's picture

no thanks

Thu, 01/03/2013 - 11:12 | 3118588 dirtyfiles
dirtyfiles's picture

pile of hidden taxes over the manipulated "look at stock market" sentiment

Thu, 01/03/2013 - 11:13 | 3118593 odatruf
odatruf's picture

Mark - you must have missed the results this past November. Americans want to pay more tax, so I expect them to be moving into just those jurisdictions you claim they will be leaving.

Long CA, NY, MA, IL and CT.

I'm shorting NH!

Thu, 01/03/2013 - 12:13 | 3118800 GCT
GCT's picture

Oda Americans voted for people that are producing or make more money then they do to pay more tax.

Thu, 01/03/2013 - 11:14 | 3118595 fonzannoon
fonzannoon's picture

I hope ZH can get Schiff radio show audio show somehow. He is stating that the US took Moody's to the woodshed and "got their mind right". No downgrades coming.

Thu, 01/03/2013 - 12:15 | 3118807 SheepDog-One
SheepDog-One's picture

'No downgrades' so thats actually BAD newz for stawks since all prior downgrades had a net result of about +10% for equities.

Thu, 01/03/2013 - 11:14 | 3118596 Jim in MN
Jim in MN's picture

A few starting points:

1.  Note in all meetings and discussions involving business or finanacial planning that corruption is taking at least 1% off of GDP growth, and ensuring zero real returns on all major asset classes for the forseeable future.  Back up with good articles and citations such as Bill Gross (PIMCO), etc.

 

2.  Boycott the crap out of all DC/NY/TBTF institutions you can.  That means using local banks and credit unions.  Try to get your local churches, small businesses, friends and town government to do the same.

 

3.  Tell the truth.  Simply and at times with humor.

 

4.  Voting and politics are vile these days but it's worth trying to keep them viable.  Just ask about corruption a lot.

 

5.  If anyone cares, we should also close the NY offices of the Treasury and Federal Reserve, ban all contact between TARP recipients and any government/elected official, impose a lifetime ban on any TARP recipient employees or paid consultants/lawyers working in government, raid all HQ offices of TARP recipients, "temporarily" jail their executives, and mirror their hard drives on the Internet for public examination.  But, no one cares about actual policy.

Thu, 01/03/2013 - 11:44 | 3118679 Dapper Dan
Dapper Dan's picture

Dam good starting points Jim.

Especially #5,

 Why can’t we look at our congress persons company laptop or computer or their Emails, My boss has the right to look at my Emails and files that are on company supplied laptops and computers.

 

Thu, 01/03/2013 - 15:26 | 3119629 Shizzmoney
Shizzmoney's picture

5) If anyone cares, we should also close the NY offices of the Treasury and Federal Reserve, ban all contact between TARP recipients and any government/elected official, impose a lifetime ban on any TARP recipient employees or paid consultants/lawyers working in government, raid all HQ offices of TARP recipients, "temporarily" jail their executives, and mirror their hard drives on the Internet for public examination.  But, no one cares about actual policy.

The economy doesn't get fixed until THIS especially gets done.

Plus infinity on this post, Jim!

Thu, 01/03/2013 - 11:17 | 3118600 RiverRoad
RiverRoad's picture

The middle class went over the cliff with a big silent scream.

Thu, 01/03/2013 - 11:20 | 3118613 odatruf
odatruf's picture

Oh I don't think so. Lemmings don't scream. If we could see them, they'd be smiling and wondering what Dancing with the Stars* has in store this season.

* Is this still a viable punchline or is there a new craptastic show I should be using?

Thu, 01/03/2013 - 11:34 | 3118648 RiverRoad
RiverRoad's picture

Wait'll they get their next paycheck.

Thu, 01/03/2013 - 11:18 | 3118603 Zer0head
Zer0head's picture

Today's examination of yesterday

remember yesterday when Rep King of NY ranted against Boner?

http://www.zerohedge.com/news/2013-01-02/sandy-backlash-dont-give-penny-...

well today he has changed his tune

http://thehill.com/video/house/275345-rep-king-boehner-will-remain-speak...

Rep. King: Boehner will keep gavel, made ‘right decision’ on Sandy aid

 

(I wonder what caused this 180?)


Thu, 01/03/2013 - 11:23 | 3118622 DaveyJones
DaveyJones's picture

hemorrhoids

Thu, 01/03/2013 - 11:28 | 3118635 LawsofPhysics
LawsofPhysics's picture

The real money masters lost control of the puppet's strings for just a second, it happens.   Move along...

Thu, 01/03/2013 - 12:42 | 3118913 NotApplicable
NotApplicable's picture

Nah, factional in-fighting is just another facet of divide and conquer. Helps keep the facade shiny and legitimate looking.

Besides, he's starting his next campaign, ya know.

Thu, 01/03/2013 - 11:19 | 3118606 First There Is ...
First There Is A Mountain's picture

Seeing my first tweets stating the Hugo Chavez is dead....FYI

Thu, 01/03/2013 - 11:22 | 3118616 TuesdayBen
TuesdayBen's picture

That leaves Castro and Obama to carry the cause Forward

Thu, 01/03/2013 - 12:15 | 3118816 mckee
mckee's picture

I don't know how you managed to get a down vote.... that's hilarious!

Thu, 01/03/2013 - 13:44 | 3119121 TuesdayBen
TuesdayBen's picture

Well, my tie is a bit short.

Thu, 01/03/2013 - 11:34 | 3118643 NoDebt
NoDebt's picture

Seeing my first Tweets that Obama will attend the funeral, weep openly and thank Hugo (he calls him "H-man" because they're buds) for all his support, guidance, friendship and sober counsel over the years.  He will call him a "great man" and a "true friend to the oppressed and down-trodden" as well as an "inspiration to world leaders everywhere" before pledging our nations full support to the people of Venezuela and jetting back home to face the praise and admiration of the main stream media for such a bold step forward in foreign policy.

 

Thu, 01/03/2013 - 11:35 | 3118650 DaveyJones
DaveyJones's picture

that will teach him .... asking for delivery of his gold

Thu, 01/03/2013 - 11:42 | 3118671 flacon
flacon's picture

Did he take his 150 tons of gold to heaven with him? I would bed ten Fedreal Reserve Notes he thought he did. 

Thu, 01/03/2013 - 11:19 | 3118609 TuesdayBen
TuesdayBen's picture

...raised taxes?! WaPo columnist Ruth Marcus today states that "...nearly all Americans...will not see income taxes rise"...

Thu, 01/03/2013 - 11:48 | 3118700 flacon
flacon's picture

Is that because "nearly all" Americans are receiving more money from the government than they are paying to the government?

Thu, 01/03/2013 - 12:18 | 3118824 SheepDog-One
SheepDog-One's picture

RIGHT! They WON'T 'see' that tax increase...it will just be a '-' sign on their next paycheck!

Thu, 01/03/2013 - 13:26 | 3119070 odatruf
odatruf's picture

And she's right. About income taxes. Payroll taxes are another story. The increase in medical costs resulting from the new Obamacare taxes are also another story. The costs associated with pervasive inflation as a result of CTRL-P is yet another story. The costs caused by wage and economic stagnation is still more.  And so on.

But, yeah, most people will be just fine as far as income taxes go.  And hey, with wages being driven down, really they are going to pay even less!!  Winning, Forward Style.

 

Thu, 01/03/2013 - 11:25 | 3118626 booboo
booboo's picture

We have as a nation evoloved into a mass of milkers, takers and whiners. But evolving has taken years of central planned engineering. We are a hybrid american species having our natural inclinations of hard work, perserverence and the family unit engineered out of the DNA by an evil and oppressive few. Party on america, party on and pay no attention to that blight massing on your roots for your natural defence and response to pain that might indicate a problem has been surgically removed in the petri dish of public education, television, "gimme programs" and pop culture.  

Thu, 01/03/2013 - 11:27 | 3118632 Spastica Rex
Spastica Rex's picture

Botomless fear and desire.

Thank the marketers and bankers.

Everyone is free to want and fear less, though. Seriously.

Thu, 01/03/2013 - 11:47 | 3118691 RiverRoad
RiverRoad's picture

If only they knew it.  Unfortunately the masses have been conditioned from birth to want and need endlessly.  Works for the marketers; works for the bankers.  It's the American way.

Thu, 01/03/2013 - 11:27 | 3118633 Flounder
Flounder's picture

Meanwhile the weekly EURUSD chart is forming a failed breakout.  1.27  coming on the way to 1.21?

Thu, 01/03/2013 - 11:30 | 3118637 Hohum
Hohum's picture

Mark Grant assumes that most people making over $450K are job creators.  I think he's spot on wrong, although I am open to proof to the contrary.

Thu, 01/03/2013 - 11:41 | 3118669 adr
adr's picture

Nobody milking unearned income from capital gains is a job creator, in fact they are all net job destroyers.

I would love to see the capital gains tax rate jump to 90% over $100k. If all the uber wealthy leave America to milk better capital rates from other countries, so be it. America doesn't need the leeches at either end.

I come from the Andrew Mellon school. Lower taxes on earned income, increase taxes on unearned. Productivity is to be celebrated, sitting in an ivory tower collecting stock options should be punished.

Publicly traded corporations are the enemy, private enterprise is the savior. Private enterprise relies on smart hardworking employees and real profit to exist. Public enterprise relies on government handouts and bullshit hype to milk cash from anyone stupid enough to invest in the phantom of actual business.

Thu, 01/03/2013 - 11:52 | 3118725 RiverRoad
RiverRoad's picture

As long as no money/jobs gets in the hands of the sheeple the 1%ers private party will roll on sans inflation.

Thu, 01/03/2013 - 11:29 | 3118638 CrimsonAvenger
CrimsonAvenger's picture

This was Grant's best article - direct and to the point, whereas normally he covers up what he's trying to convey with overly clever and unnecessary prose. I suspect he's too pissed or despondent to layer his work with unnecessary fluff. I hope he sticks in this vein because I do think he has something worthwhile to say.

Thu, 01/03/2013 - 11:38 | 3118657 donkshover
donkshover's picture

If i'm on the Titanic and I know it I may as well take a seat,sit back have a buffet and enjoy the view. Why the hell should I be cooking the food, waiting the tables and cleaning up after everybody when I know I'm screwed too? Its time to keep the income under the radar, grab me a snap phone and whatever goodies I can. This ship aint changing course.

Thu, 01/03/2013 - 11:45 | 3118682 adr
adr's picture

But when you were on the Titanic, you were told it was unsinkable, and you believed it. Even after you hit the iceberg, the captain told you everything was fine. You would have kept on dancing until you saw the bow raise above the water.

You're describing more of the Armageddon scene where the world has been told the mission was a failure and to prepare for the asteroid to wipe you out.

Thu, 01/03/2013 - 11:53 | 3118729 farmerjohn2112
farmerjohn2112's picture

Word.

Thu, 01/03/2013 - 11:44 | 3118678 Schmuck Raker
Schmuck Raker's picture

"...$222 million in a special exemption for imported rum."

Hey now, don't mess with the rum, that's important!

Buys MY vote.

Thu, 01/03/2013 - 11:59 | 3118752 Shizzmoney
Shizzmoney's picture

Thus we rewarded non-working Americans at the expense of those with jobs

Like the 20-something female with 3 kids by 4 different baby daddies, and of course, the retired old white guy who hates "the gays and the brown people and the socialism"......despite the fact he cheers on black players destroy each other during football on Sundays, drinking beer paid for by the checks funded by the taxpayer via Social Security?

Oddly enough, you don't hear much on these financial blogs about the amount of welfare Goldman recieved, as well as the traders and paper pushers getting shuttled cash from the taxpayer, that is 100x's more than any mom on welfare will EVER recieve.  But hey, that mom getting a check of $300 dollars a month, yeah THAT bitch is the problem!

Maybe if those on the right would maybe take a look up at take on those who CREATED the problem, for their financial gain, instead of shitting on poor people because they are an easy target........the American public would, you know, actually respect your fucking opinion.

But lets pick on the old people, the brown people, because you know, no one cares about them anyways, right? 

I actually root for an austerity right wing president and Congress.  Get em in there. Cut all of the entitlements, the welfare, the unemployment benefits, the entitlement our soldiers recieve when coming back overseas after fighting wars based on lies.  All of it. 

Do it, guys.  SEE WHAT THE FUCK HAPPENS.


Thu, 01/03/2013 - 12:27 | 3118855 GCT
GCT's picture

Shiz you must not read ZH much.  I suggest you read more ZH as we discuss it here all the time.  Reading skills for the win Shiz. Theft is theft Shiz no matter who is stealing from you.  But I guess you blame the white folks for all of this.  They already screw the elderly in this country mmight as well start screwing the rest of us.  Oh I forgot they already are if you make any money actually working.

Thu, 01/03/2013 - 13:02 | 3118972 NotApplicable
NotApplicable's picture

That's a lot of damn words to try and call out Tyler, only to contradict yourself in the process.

Logic is your friend.

Thu, 01/03/2013 - 14:28 | 3119351 Darksky
Darksky's picture

If there was only ONE 20-something female with 3 kids from 4 different baby daddies then we wouldnt mind spending $300/month on her. But sadly there are millions of women having 3 babies with 4 different men. Please explain to me how one of those babies can have two daddies.

Thu, 01/03/2013 - 15:29 | 3119647 Shizzmoney
Shizzmoney's picture

Please explain to me how one of those babies can have two daddies.

It's in limbo.  Tune in to Maury Povich on Friday to find out who is the "winner"!

Thu, 01/03/2013 - 12:31 | 3118867 JohnFrodo
JohnFrodo's picture

It was a huge victory for the right. Progressives got a higher tax, but no increase in capital gains tax. Most if not all the superich do not get a salary. The next debate over cost cutting is all going to be in the socialist sphere. The right has made starving the goverment a permanant condidtion.

Thu, 01/03/2013 - 12:32 | 3118875 JohnFrodo
JohnFrodo's picture

okay a small increase on capital gains.

Thu, 01/03/2013 - 12:33 | 3118882 JohnFrodo
JohnFrodo's picture

Capitalism is a total surrender to human nature.
Communism is a total denial of human nature.
Socialism is your mother saying make your bed TM
copyright 2012 Steve

Thu, 01/03/2013 - 13:04 | 3118978 sbenard
sbenard's picture

Calvin Coolidge was perhaps the greatest president of the 20th Century. And the one most often vilified by progressives. His model was THE most successful economic model of the past century, and yet it is the one progressives want us to forget.

Thu, 01/03/2013 - 14:21 | 3119316 Darksky
Darksky's picture

Roger that. The man just keeps climbing my list of best Presidents ever.

Thu, 01/03/2013 - 13:46 | 3119136 heywood jablowme
heywood jablowme's picture

Mark,

You are dead wrong on your muni bet.  First of all, the idea of a 28% cap on exempt interest will certainly be part of the discussions over the next month and is still a favorite for enactment as it is one of the few areas with support from both parties.  When this happens municipals get hammered.  Second, and more important, exempt municipals are currently expensive compared to corporates or taxable municipals.  The easiest comparison is MUB (2.66% yield)  vs BABZ (4.17% yield).  When comparing to corporates, just look at MUB vs. LQD (3.60% yield) and you will see your premise of municipals yielding more than corporates is WRONG.  Best bet...short MUB, go long BABZ! When the 28% cap to exempt income is enacted the yield ratio between these two funds will go from the low 60s to the mid 70s real fast.

Thu, 01/03/2013 - 14:03 | 3119239 ZFiNX
ZFiNX's picture

This one's going to be a slow bleed: subsidized stagflation.

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