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Tom Perkins Is Back And Facing "Economic Extinction"; Proposes "$1 = 1 Vote" Plan

Tyler Durden's picture




 

Tom Perkins is back. Still apologetic for his Kristallnacht analogy, the 82-year-old 1-percenter's-1-percenter, still wearing the $350,000 Richard Mille watch discussed his views on the failure of social, fiscal, and monetary policy at a talk entitled "The War On The 1%" ironically in San Francisco - and increasingly divided city. Perkins explained that the top 1% is carrying the government - "Government is a giant beast that has to be fed, and it's fed with taxes... and taxes will go up and up and up." Simply put, he notes on the entitlement society and implict buying of votes, "we got ourselves into this mess," and his biggest fear is higher taxes until there is no 1% - "It's an economic extinction, not a physical one." Perkins proposes a "$1, 1 vote" future noting that 50% of registered voters pay no taxes.

 

Perkins on the demonization of the rich...

 

Why a watch costs $350k?!!

 

Via CNN,

Perkins pegged the problem of the American taxation system on failures in social, fiscal, and monetary policy.

 

The income gap has roots in the War on Poverty, Perkins said, which he wished "had not been such a fiasco." He blamed Lyndon B. Johnson's social programs for an increase in out-of-wedlock birthrates and low-income single parent households.

 

Fiscally, Perkins said that the government spends too much money on entitlement programs, an issue highlighted by the debt that the U.S. accrues as a result. "We're on a knife edge with this incredible debt that can't be paid back," Perkins said.

 

Finally, Perkins' views on monetary policy were that historically low interest rates have led to a boom in tech startups. Which, according to Perkins, is a bad thing. "An incredible amount of money has flowed into venture capital," he said. So, when students drop out of college and move to Silicon Valley to start companies or design software, "There's so much money [in Silicon Valley], that they can keep failing and failing, so they aren't learning in college anymore."

 

When challenged to say, in 60 seconds, how he would change the world, Perkins made a playfully controversial response.

 

He suggested that, in the tradition of Thomas Jefferson's voting land owners and Margaret Thatcher's idea of only allowing taxpayers to vote, "The Tom Perkins system is: You don't get the vote if you don't pay a dollar in taxes. But what I really think is it should be like a corporation. You pay a million dollars, you get a million votes. How's that?" To which the audience responded with laughter. Perkins later said offstage that what he meant was that, with 50% of registered U.S. voters not paying taxes, "we got ourselves into a mess."

Perkins said the fear is higher taxes until there is no 1%. "It's an economic extinction, not a physical one."

 

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Fri, 02/14/2014 - 19:37 | 4438068 TeamDepends
TeamDepends's picture

Mistakes were made.

Fri, 02/14/2014 - 19:45 | 4438087 TruthInSunshine
TruthInSunshine's picture

Newsflash #1 - That's just another form of "poll tax"

Newsflash #2 - Tom Perkins is apparently a high-functioning retard

Fri, 02/14/2014 - 19:57 | 4438128 Theosebes Goodfellow
Theosebes Goodfellow's picture

Ah yes, the "If we 1%ers have to pay for everything, we should own it". How John Houseman of him. BTW, h/t to the guy who sold him a watch for $350k. Must of seen this boy coming a mile away. Rest assured Perkins ain't sleeping in the Mission District tonight.

Fri, 02/14/2014 - 20:01 | 4438141 Arius
Arius's picture

i am afraid Mr. Perkins is correct. 

This is not good news for us that inspire to make it to the 1% !  however, we will live another day.

 

i admire people like mr. Perkins who go into lion's den and states without fear what he thinks! kudos to him!

Fri, 02/14/2014 - 20:11 | 4438157 Ignatius
Ignatius's picture

"...who go into lion's den and states without fear what he thinks!"

I'm sure next time we'll be hearing about how he bravely walked into a Harlem barber shop asking "OK, which N***** farted?"

The guy's a douche.

Fri, 02/14/2014 - 20:58 | 4438315 tongue.stan
tongue.stan's picture

If I wanted his opinion on anything I'd ask his butt buddies Boofett and Soreass.

But will the world be better off once these moldy child sacrificers finally expire? It's an open question.

Fri, 02/14/2014 - 21:56 | 4438447 James_Cole
James_Cole's picture

The guy is such a fucking moron. And when will this canard about 50% don't pay taxes go ahead and die?

http://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Federal_Receipt...

Payroll taxes bitches, get it fucking straight. Fuckheads like Perkins use trusts so they don't have to pay taxes, meanwhile low wage workers get hit via payroll.

http://en.wikipedia.org/wiki/File:Federal_receipts_by_Source_Historical_...

Notice a trend?

Anyway, doesn't matter how much money his watch costs or the stupid shit he says, guys face looks like a shitty old leather jacket and he's already got two feet into the grave. Good riddance! 

Fri, 02/14/2014 - 22:06 | 4438478 Confused
Confused's picture

Shhhhhhhh.......

don't tell anyone that the 1% don't really pay taxes. Or that the Government isn't really feeding off of them, but rather, the 1% is feeding off the Government (ie - middle class). 

 

Shhhhhhhh............you will spoil the illusion. Perception is reality. 

Fri, 02/14/2014 - 22:21 | 4438518 philipat
philipat's picture

Let them eat cake....

Fri, 02/14/2014 - 23:26 | 4438689 FMR Bankster
FMR Bankster's picture

This is a public service announcement. I made the mistake of reading this a**holes book. (Perkins)Unless you find others writing about their boats, wine, and trips to Europe avoid it like the plague. Either this jerk just got lucky and rode somebody's good ideas to a big payday or he had a stroke and forgot what he did to make his fortune.

Sat, 02/15/2014 - 11:39 | 4439326 Ranger4564
Ranger4564's picture

I say this honestly, with sincerity.

If you are someone who reads someone else's books to gain wisdom in how to become rich, you will never ever be a .1%. 

It's really not that difficult to make money or to become rich in the capitalist system. Take a look around, figure out what people are stupidly willing to continue to spend money on regularly, provide it to them, ruthlessly control entry by any competitors, jack up the price to the maximum the consumer is willing to pay, limit production to the minimum - adequate to maintain continued interest and receive benefits of economies of scale, and don't forget to be a complete douche self-obsessed egomaniac. 

Stop reading books and think for yourself. The manipulation being observed in the globe should be strong enough evidence that most literature is utterly misinformed / false / propaganda. Take your pick. If you instead develop reasoning / observational qualities within yourself, you won't have to wait for the instruction manual everytime you encounter new territory.

That's my advice. Go forth.

Sat, 02/15/2014 - 15:41 | 4439984 NaN
NaN's picture

Perkins still thinks "greed is good", and does not realize the correlary, "gluttony is good," always comes along for the ride.

Fri, 02/14/2014 - 23:23 | 4438675 Bunga Bunga
Bunga Bunga's picture

Everyone pays taxes, they are just hidden in the price when you buy gas, food, pay rent, medical expenses, tuition, phone & utility bills .... The money from profits corporations make comes from the consumer, the rich do not create that money. It's true that a low income worker pays little or no income taxes, but he generates the profits for the investor.

Sat, 02/15/2014 - 00:54 | 4438813 BeanusCountus
BeanusCountus's picture

Great point. But would support a system where people who pay the bills get a little more say. Problem is keeping assholes like this guy from having ANY say no matter how many taxes they pay.

Perhaps something like a formula that gives credit to the total taxes you pay (sales, property, payroll. etc) as a percentage of your income?

Sat, 02/15/2014 - 09:19 | 4439134 yrbmegr
yrbmegr's picture

What makes you think they don't get "a little more say"?  They actually get a LOT more say already.  Today.

Sat, 02/15/2014 - 10:28 | 4439212 N2OJoe
N2OJoe's picture

@ Bunga Bunga

You are totally correct, but I do halfway agree with one thing this guy is saying.

Those that pay no income tax are generally sheeple.

Sheeple, by definition, dont use logic or really question anything of importance. If a sheeple sees his "tax bill" at the end of the year and its zero, he thinks he's not paying taxes and votes accordingly (Moar free shit!).

It is on that premise that I agree with that guy, that if you don't pay income tax, you should not have a vote.

That is, until or unless we can repeal the income tax all together, which would never happen so long as 50%+ of the populace believes they are "getting over" on the system with the tax they are not paying still in place.

 

Sat, 02/15/2014 - 16:51 | 4440217 Excursionist
Excursionist's picture

James - Half the population not paying income taxes (i.e., in addition to payroll taxes) leaves half the population with little or no skin in the game.  This is a problem.  Payroll taxes cover services everyone presumably uses at some point in their lives.  What a concept!  Actually paying for what you use!  The non-payroll income taxes cover everything else.

So if I were a crafty community organizer from Chicago, pandering to the 50% with little / no skin in the game, I'd do whatever I could to propagate two fantastic myths:

  1. Payroll taxes somehow give everyone equal standing;
  2. Wealthy people became wealthy because of inheritances or ill-gotten, immoral means.

My two cents' on this topic:  the guy who busted his ass in college, then busted his ass working in some thankless job working his way up the ladder has much greater standing in debates on the scope of government than the high school drop out toiling away at Wal-mart.  Nothing wrong or dishonorable about slaving away at Wal-mart. 

But, to borrow from Jack Nicholson in A Few Good Men, I'd rather the high school drop out just say "Thank you" to the college grad and get on his fuckin' way rather than voting more benefits for himself.

Sat, 02/15/2014 - 21:20 | 4440896 James_Cole
James_Cole's picture

James - Half the population not paying income taxes (i.e., in addition to payroll taxes) leaves half the population with little or no skin in the game.  This is a problem.  

I'd argue the elite group of executives who mostly keep their money in foreign accounts and use foreign labour for their products are the real people with no skin in the game. These same people exist in all countries and have a luxury of mobility the peons don't have, and consequently the 'skin' they have in the game is highly questionable. 

Payroll taxes cover services everyone presumably uses at some point in their lives.  What a concept!  Actually paying for what you use!  The non-payroll income taxes cover everything else.

You can piecemeal it out to whatever convenient end you want, point is they pay into the system. On a relative basis people with low wage jobs paying payroll taxes are likely paying substantially more. 

the guy who busted his ass in college, then busted his ass working in some thankless job working his way up the ladder has much greater standing in debates on the scope of government than the high school drop out toiling away at Wal-mart. 

Right, the great phantom hero individual I hear a lot about. In my experience the upper classes are more likely to be mediocre people who’ve been born with the right heritage, gone to the right schools and landed at the right jobs. And that’s fine. But equally fine the high school drop out at wal-mart. 1 person, 1 vote - the only way to run a democracy, no exceptions. I disagree with lots of people, doesn't mean I go looking for reasons why they shouldn't be able to vote. 

Sun, 02/16/2014 - 00:45 | 4441384 Dark Space
Dark Space's picture

Trusts have higher tax rates than individuals. The answer is more complex than what you describe.

Fri, 02/14/2014 - 20:59 | 4438317 TeamDepends
TeamDepends's picture

"Government is a giant beast that has to be FED".  Get it?

Fri, 02/14/2014 - 22:04 | 4438468 Confused
Confused's picture

Oh, nothing to see here, just another guy casually wearing a $350K watch suggesting we change the way the country was designed to run.............

 

I feel bad for the 1%. Surely if this hatred of them keeps up, he will no longer be able to wear that thing in public. And what would the point of owning it be then? 

Fri, 02/14/2014 - 21:33 | 4438402 manofthenorth
manofthenorth's picture

I will laugh when the "free shit army", he helped create by offshoring our productive capacity (so he could have a $350k watch), tears down the gate to his little bubble. Jerome is going to knock his lights out and OWN that bling.

Fri, 02/14/2014 - 21:48 | 4438441 dontknowcrapabo...
dontknowcrapabouteconomy's picture

Thank you for your comment Mr. Perkins....errr...I mean Arius ;)

Sat, 02/15/2014 - 00:34 | 4438804 ArthurDaley-Old...
ArthurDaley-OldieTimeTrader's picture

Arius

 

When you do a deal if you don't leave enough profit in the deal for the next guy he goes bust.  You need the next guy in the chain in place or you'll go bust cos you've lost your trading partners. Sure we all want to be billionaires but lets get real. Someone has to wash the kitchen floors & they have to be happy enough too whilst washing the kitchen floor or eventually you get a revolution.

Sat, 02/15/2014 - 11:45 | 4439344 Ranger4564
Ranger4564's picture

Psst... it's called a PYRAMID. Links in a chain are equal. What you're describing is clearly the supportive lower levels of the PYRAMID, with you on top.

Sat, 02/15/2014 - 04:43 | 4439018 limit_less
limit_less's picture

I  think he is correct also. Let us try it for 10 years and see what happens. 

Having said that public sector pay is higher than private...

How about one dollar, one vote, government employess are not allowed to vote and only taxpayers.

Actually, it can be made simpler. Only non govermental shareholders and business owners can vote.

This is going to piss some people off but the beauty of capitalism is that what is good for the owner  is good for the customer which is good for the employee. It is a self reinforcing cycle.

Like I said, lets try it for 10 years.

Sat, 02/15/2014 - 08:19 | 4439077 JimS
JimS's picture

Actually, you are slightly wrong in "what is good for the onwer is good for the customer which is good for the employees" line. It should read "what is good for the customer, is good for the owner, which, in turn, is good for the employees". You are falling into a trap that many, many business owners fall: without customers, there is NO business. In truth, ALL business owners must realize that WITHOUT customers, there is NO business... period. The only time that is not true, is when there exists only the "Company Store" and all the "customers" are forced to buy all their goods from said "Company Store". This is what lies in the future when the Government picks which "businesses" are allowed to "prosper", and which must "fail". Think of what happened to Bear Sterns vs. JP Morgue. That is what we have now in our country: it's called "Croney Capitalism". No business is entitled to succeed. To steal a quote I've read on ZH, by someone: Capitalism without Bankruptcy, is like Christianity without Hell.

Sat, 02/15/2014 - 08:21 | 4439078 JimS
JimS's picture

Sorry. I gave you your only "down" arrow, for your failure to understand what "business" is really all about. Many fail that simple thought about business.

Sat, 02/15/2014 - 08:24 | 4439082 JimS
JimS's picture

Sorry, should be "crony", instead of "croney". 

Sat, 02/15/2014 - 09:11 | 4439127 Sean7k
Sean7k's picture

Hey, why don't we eliminate government and the central bank? Then we'll see these assholes whining in the alleys because they can't game the system. Then true competition and free markets reign- the exact combination dickheads like rockefeller feared the most.

Anyone stupid enough to think voting is anything more than a reality show is either in on the con or a moron.

 

Sat, 02/15/2014 - 09:21 | 4439138 yrbmegr
yrbmegr's picture

It used to be that way back in Merrie Olde Englande.  Some people didn't like it.

Sat, 02/15/2014 - 11:07 | 4439274 Graph
Graph's picture

Ari's daily thought: "To wear that watch is meaning of life".

Fri, 02/14/2014 - 20:03 | 4438144 Thought Processor
Thought Processor's picture

That watch is.......  fugly.

 

And um, the idea of paying for votes sounds like a great way to foster a real deep social divide which then turns inevitably to toward violent backlash.

I don't think he's thought this one through.

Or maybe the guy just has a deathwish.

 

Fri, 02/14/2014 - 20:23 | 4438194 Zero_Sum
Zero_Sum's picture

Richard Mille makes gaudy, overpriced man-jewelry for rich white guys with inferiority complexes and no taste. Or Russian oligarchs. Or hip-hop musicians. But I don't think he fits the last two categories.

 

Congrats to Perkins on spending $350k in order to verify his status as white trash.

Fri, 02/14/2014 - 20:47 | 4438252 Oldwood
Oldwood's picture

When democracy was about protecting people's individual rights, every person voting made sense. When government's primary role is supressing individual rights in order to redistribute wealth, democracy is simply a tool to aggregate power for theft. Until we can sort what our government's true constitutional role is, democracy is as pointless as the votes we cast.

Fri, 02/14/2014 - 21:13 | 4438349 mumbo_jumbo
mumbo_jumbo's picture

"in order to redistribute wealth"

 

95% if the income gains have gone to the 1% since 2008 so "voting" sure does redistribute wealth but it goes UP NOT DOWN.

Fri, 02/14/2014 - 21:24 | 4438389 Oldwood
Oldwood's picture

Redistribution always works up and down.Its those in the middle that are getting crushed and every time we are led to believe the "rich" will be paying the lion's share we somehow discover our income has declined, our jobs have disappeared and things are getting generally shittier for everyone in the middle. The poor are getting their Obamacare, two years of unemployment and lots of other goodies and the people at the very top are being subsidized by government. They can raise taxes to the moon and those wed to government largess just keep rolling it in. Look at the criminality of Goldman and JPM. They agree to pay billions in "fines" while allowing to continue with their scams, that WE ultimately pay for. Taxes should be cut to the bone for everyone.period. Taxes are but a tool they are using to redistribute wealth to the top by leading us to believe they are redistributing it to the "needy". They bribe the needy with baubles and bling while the ones at the very top, those making hundreds of millions if not billions, make the real killing. Its corruption. Its theft and its class warfare.

Fri, 02/14/2014 - 21:38 | 4438416 Indian_Goldsmith
Indian_Goldsmith's picture

A $350,000 watch shows  the same time as a $1 watch. $1=1vote will mean dictatorship of the rich. Welcome to the real life hunger games. 

Sat, 02/15/2014 - 01:57 | 4438908 TruthInSunshine
TruthInSunshine's picture

Here's an article EVERYONE should read and pass along having to do with the relationship between the price of certain things (such as watches & cars), the dynamics driving these prices (many dynamics have nothing to do with actual quality, but pure, unadulterated status driven by advertising & marketing to the brain dead) and the general topic of the difference between true quality & faux quality, overpriced, trash for imbeciles (which is a growth market).

It's an article written by a guy on an automotive blog, and is as good as ANYTHING you'll read - it starts out with a real life example as to why his Porsche Boxster S is an utter piece of garbage (whereas his Porsche 993 will be passed onto his son) and then gets into the wild, wacky world of watches:

http://www.thetruthaboutcars.com/2012/10/avoidable-contact-the-watery-bi...

And here's a LONG except, because it's THAT good:

"One of the more offensive designs of the Luxury Watchpocalypse was the Hublot “Big Bang”. The recipe for a Big Bang is simple: take the same movement one finds in a $500 Hamilton Jazzmaster watch, put it in a case which is a grotesque, oversized knock-off of Gerald Genta’s designs (full disclosure: your humble author owns a titanium Ingenieur, designed by Mr. Genta), then add a ten-dollar rubber strap to pay homage to Hublot’s “heritage” as a twenty-year-old maker of rubber-strap watches. The resulting watch is “worth” ten thousand dollars or more and is worn by such persons as Bernie Ecclestone (who did an advertisement after he was beaten and robbed of his Big Bang by some watch-ignorant thug who probably overlooked a JLC Master Compressor on the wrist of the guy next to Bernie) and Diego Maradona.

The Big Bang is the perfect “luxury watch”. Its worth consists solely of its price. It is cheap to make and contains cheap parts. Its manufacturer doesn’t even bother to fabricate a “heritage” the way the brand-disinternment crowd does. The only reason to wear a Big Bang is to advertise that one can afford to wear one. Plain and simple. They aren’t even well-made within the confines of their modest technical brief; at a very rainy Petit LeMans a few years ago, a good friend of mine endured the agony of watching his Big Bang Carbon’s face cloud up with internal condensation from an improperly-sealed case. Fifteen grand for a watch you can’t wear in the rain! Luckily it never rains in the Moscow EDM clubs or at David Guetta’s Ibiza DJ-in-residence gigs, or the Hublot would be entirely worthless. Hublot’s razor-sharp sense that a Big Bang is only valuable because of its sticker price finds its most sublime expression in the “Big Bang $3m”, a Big Bang which was loaded with enough diamonds and other junk to not-really-justify a price of three million dollars. Apparently someone was willing to buy it, which caused Hublot to release the “Big Bang $5m” this past year in search of the proverbial bigger fool.

Not everyone is so readily fooled, however, so Hublot and other watchmakers are busy CAD-creating their own “manufacture movements” to replace the generic ETA/Sellita/Valjoux movements found in their products. In this, the Cretaceous period of watch enthusiasm, the ability to engineer and manufacture one’s own mechanical watch movement is essential for “credibility”. Not that the genuine prestige watchmakers all used their own movements anyways, but there’s a certain amount of Cadillac-at-the-Nurburgring idiocy going on: Rolex makes their own movements, and they are a respected brand, so we need to have our own movements as well, even more complicated and feature-packed, and then we will be more respected than Rolex.

There’s just one little problem with that strategy. The proliferation of quick-bake “manufacture” movements is creating an entire generation of hugely expensive, amazingly complicated, completely “bespoke” watches which will be impossible to fix. Most watch repairmen can fix the ETA 2892 movement found in affordable Swiss watches, and most watch repairmen can fix a Rolex because they are numerous and well-documented, but can anybody fix a Grand Complication Tourbillon watch from some company which was in business for three years, selling watches at $150,000 a pop to Chinese entrepreneurs, before going bankrupt and disappearing?

Of course not. These watches, which can’t match a eleven-dollar Taliban graduation watch for accuracy, are also imperfectly ticking down the seconds to their own deaths. That’s good! They are even more perfect as luxury items than the original Hublot Big Bangs, because they are ephemeral. There’s something unpleasantly Protestant about a Rolex, you see. One might wear it for a lifetime, or buy it used, or simply purchase it affordably on the used market and enjoy it for a long time. It isn’t a perfect statement of immediate, current, present wealth. A Rolex or Omega might cost as much as a Ulysse Nardin, but how can one be sure that one just bought it for a large sum of cash on the barrelhead? It might be old, or refurbished! It isn’t a true luxury good unless it expires, the same way a trip to Spain expires, the same way a week in a five-star hotel expires. Only then is it completely unnecessary, totally flashy, utterly ephemeral."

Sat, 02/15/2014 - 09:21 | 4439136 Oldwood
Oldwood's picture

You know way too much about expensive watches......you must DIE!

Sat, 02/15/2014 - 12:59 | 4439538 TruthInSunshine
TruthInSunshine's picture

That's not my writing. It's from the article I linked.

The article isn't really about watches, or cars, per se, but how the price of most consumer goods no longer bears any relationship to their quality, durability or reliability.

Sat, 02/15/2014 - 14:23 | 4439766 Theosebes Goodfellow
Theosebes Goodfellow's picture

Thanks for the post, Truth. As one of those who enjoy great writing like a perfect steak paired with a fine wine, Baruth's piece was a feast.

Sat, 02/15/2014 - 15:20 | 4439947 Tinky
Tinky's picture

The other takeaway is that it is almost invariably smarter to buy used. Yes, you need to either know the watch (or car), or consult someone who does, but the relatively quality, value, and (believe it or not) potential for appreciation can only be identified with consistent and reasonable accuracy in the used (or vintage) markets.

Sat, 02/15/2014 - 15:37 | 4440011 NaN
NaN's picture

Don't tell anyone, but the inside of a Swatch and Rolex are made at the same factory.

Sat, 02/15/2014 - 03:46 | 4438988 artless
artless's picture

"$1=1vote will mean dictatorship of the rich"

Shit man, good catch. I mean thank God we don't have THAT.

Glad all the voting everyone does keeps the rich from becoming dictators. That would really suck.

 

 

Fri, 02/14/2014 - 20:38 | 4438232 NoDebt
NoDebt's picture

Dollars are already buying votes.  By way of campaign contributions, lobbying, kickbacks and insider information.  

Fri, 02/14/2014 - 22:11 | 4438496 TheFourthStooge-ing
TheFourthStooge-ing's picture

That incontinent old coot must be senile and retarded. He's lived under a "$1 = 1 vote" system his entire life.

Sat, 02/15/2014 - 08:55 | 4439109 James-Morrison
James-Morrison's picture

Voting implies there is some choice between the two-headed beast we have in America.

Sat, 02/15/2014 - 12:18 | 4439399 Ranger4564
Ranger4564's picture

Psst... a brief glimpse into the past reveals that the world has been run consistently by those willing to take the wealth from others, and those who take that wealth then condemn those whom they took it from as being stupid / lazy / parasites. It's a great deflection of the reflection. Anyway, think back 280+ years, founding fathers, REPUBLIC. Ring any bells? Any?

I'm for complete democracy by an informed and engaged citizenry, but history has been defined by oligarchy because of the ruthless socio-economic systems in place. When you can't produce surplus, you control distribution. Problem is, even while we can produce surplus, we're controlling distribution to preserve the old models of socio-economic injustice / deprivation.

The world knows not what the world is. So a lot of stupid shit happens because people don't have a fucking clue.

We had the systems and the behavioral responses to such conditions based on our productive capacity. What that means in the big picture is, there is no fixed human nature / behavioral response, those phenomena occur in direct relation to societies capacity of production. As production increases / decreases, human behavior changes. That's about all one can ever say about human nature. No, people are not all born the same, greed is not good, self-interest is not inherently good, etc etc etc. The magnitude of these components in a human character are all individual as well as always in flux, and in the course of a civilization, evolving based on productive capacity.

What that means is, as you increase production, you not only improve conditions for everyone, you also minimize greed / self-absorption / sociopathic behaviors and thoughts.

Don't worry about this Perkins douche bag, he's just emblematic of a point in time, think more about the timeline / branches of opportunities.

Fri, 02/14/2014 - 20:52 | 4438279 mccvilb
mccvilb's picture

People still wear watches?

Sat, 02/15/2014 - 09:24 | 4439142 yrbmegr
yrbmegr's picture

My thought exactly.  What a fossil!

Fri, 02/14/2014 - 19:58 | 4438137 Arius
Arius's picture

dup

Sat, 02/15/2014 - 12:19 | 4439426 rbg81
rbg81's picture

So the majority can keep voting itself benefits from the minority. Yeah, that's the ticket [/s].

Eventually something will have to be done, but it will probably take a Systematic collapse to overcome the political inertia and entitlement mentality..

Fri, 02/14/2014 - 19:47 | 4438108 Jannn
Jannn's picture

Guest Post: Thoughts Behind PBOC Gold Purchase Policy

http://www.ingoldwetrust.ch/guest-post-thoughts-behind-pboc-gold-purchas...

Fri, 02/14/2014 - 20:26 | 4438201 SteveNYC
SteveNYC's picture

"the top 1% is carrying the government"

 

An issue with such a pittance of a royalty, sir? Surely, you realize you are getting your moneys worth.......

Fri, 02/14/2014 - 19:40 | 4438081 RaceToTheBottom
RaceToTheBottom's picture

Is a $350k watch wearer right once a month?

Fri, 02/14/2014 - 19:49 | 4438114 666
666's picture

Am I supposed to give any credence to someone stupid enough to spend $350K on a watch?

Fri, 02/14/2014 - 20:12 | 4438170 Arius
Arius's picture

it is all relative ... in his case money is no objection ... the point is he has something the rest do not have!

Fri, 02/14/2014 - 20:47 | 4438253 Conax
Conax's picture

"In Philadelphia, it's worth 50 bucks."

'

'

"Give me the money... How much for the gun?"

Fri, 02/14/2014 - 20:49 | 4438269 Oldwood
Oldwood's picture

That's pretty funny given the vast majority of people spend well in excess of their earnings to buy shit they do not need with money they must borrow from guys who buy $350k watches with cash. Yes it is disgusting...what?

Sat, 02/15/2014 - 12:55 | 4439516 rbg81
rbg81's picture

Let's see, if he has a new worth of $1B, then a $350K watch is 0.00035 of his entire wealth.  To put it in perspective, that would be like someone with a net worth of $100K buying a $35 watch.  Somehow, I don't think he'll miss the $$. 

Sat, 02/15/2014 - 12:58 | 4439517 rbg81
rbg81's picture

Plus he gets the added benefit of making people crazy when he shows them a $350K watch.  I can just see him saying:  "See this watch?  It's worth more then your house and car combined.".

Fri, 02/14/2014 - 19:41 | 4438086 Parisnights
Parisnights's picture

I'd vote for his old ass to take a dirt nap

 

Fri, 02/14/2014 - 22:34 | 4438552 logicalman
logicalman's picture

There might be quite a few volunteers to 'tuck him in'!

 

Fri, 02/14/2014 - 19:45 | 4438090 jmp esp
jmp esp's picture

I'm confused, who cares how many votes one has in this mass hysteria we call democracy? As a member of the elite, this guy should understand that change is almost never affected by casting a vote. Seems like demagoguery to me.

Fri, 02/14/2014 - 19:49 | 4438104 logicalman
logicalman's picture

If voting changed anything, it would be illegal

Sat, 02/15/2014 - 03:50 | 4438992 artless
artless's picture

And along the same lines:

"The problem with voting is that no matter who you vote for the government always gets in"

Either some guy named David Evans or his side kick Paul hewson. I forget who actually said it.

Fri, 02/14/2014 - 19:53 | 4438127 jmp esp
jmp esp's picture

Oh look, my first ZH downvote. Someone hasn't figured out that democracy is a utopian ideal that directly contradicts the nature of all herd animals...

Fri, 02/14/2014 - 22:05 | 4438472 Cheduba
Cheduba's picture

You're absolutely right that voting doesn't change anything in our "democracy" (America was founded as a Constitutional Republic, but that fact has long been lost).

Besides the fact that this guy sounds like royalty when he makes proclomations like that, that suggestion wouldn't be nearly as terrible to keep people from voting to extract other people's money except for the fact that current billionairres achieved their ill-gotten gains from government-granted monopolies or connections to the central banks that can already print unlimited votes out of thin air.

Fri, 02/14/2014 - 19:48 | 4438095 logicalman
logicalman's picture

That watch is fucking UGLY!

But then, I guess that suit's the mind of its owner.

Scum sucking bags of shit look down on this piece of indescribable nastiness.

 

Fri, 02/14/2014 - 20:19 | 4438182 therover
therover's picture

I agree...the watch is too busy for me.

Give me a Rolex Submariner, stainless, no date, black dial anyday.

Fri, 02/14/2014 - 19:46 | 4438096 Payne
Payne's picture

Yes let us war with the 1% since they have directly benefited and influenced the idiotic Government policies from 1913 to today.  Serves them right !

Fri, 02/14/2014 - 19:48 | 4438102 SgtShaftoe
SgtShaftoe's picture

If you invented a character such as Tom Perkins for a book, it would be unbelievable.  Sadly, reality is insanely more arrogant, stupid and plain evil than fiction. 

Fri, 02/14/2014 - 20:45 | 4438251 AlaricBalth
AlaricBalth's picture

The rat Templeton from Charlotte's Web by EB White comes to mind.

Sun, 02/16/2014 - 10:51 | 4441950 gafgroocK
gafgroocK's picture

Perkins has destroyed the Peter principle as evidence by his rise exponentially beyond his incompetence level

Fri, 02/14/2014 - 19:49 | 4438106 Offthebeach
Offthebeach's picture

Um...how many car companies, coach builders, parts, assemblers, miracle shazam new carburetor companies were formed, folded, merged from 1899-1960? Most failed. Anyone have a DEC, Digital, Wang computer? Ditto any field.

The guy is a idiot.

Get in the box.

Fri, 02/14/2014 - 19:51 | 4438113 Bastiat
Bastiat's picture

HE's right about Lyndon Johnson's "War on Poverty."  He failed to mention the costs of MIC and empire--since we're on Johnson's ass, we can start counting with Vietnam.

Fri, 02/14/2014 - 21:45 | 4438440 disabledvet
disabledvet's picture

yeah..."they always forget the Vietnam part" of the "Great Society."

Ummm...dude..."it was Wall Street that went bankrupt in 2008 not Washington."
And it wasn't like Washington was pushing for that outcome either.
The Fed did that.
He seems to be making an argument for "perma-bailouts" and kleptocracy actually.

The irony is that he's literally wearing a watch that says "your money is worthless."

You think the Government wants that?
Taxes were a lot higher in WWII than they have been in DECADES in the USA.

Debt creation was "all Government's fault"?
REALLY?
"Just blow another bubble..it's really not a big deal"?
Well...alrighty then.
Let's start with Facebook then...

Sat, 02/15/2014 - 10:56 | 4439251 Bastiat
Bastiat's picture

Between his social programs and the Vietnm war, Johnson broke us to the point where we defaulted and the fiat became unhinged from it's gold foundation.  This led to inflation and the expansion and eventual metastatic growth of the financial sector.  

Sat, 02/15/2014 - 01:48 | 4438905 Freddie
Freddie's picture

Well I don't like the Kennedys but LBJ, MIC, Mafia and the ruling families who run the El See Eye A-Al Qaida killed JFK. One of the early officers of the OSS? David Rockefeller.

I did not know LBJ was the head of appropriations in the Senate for military contracts whe he was a Senator.

RFK had everyone on LBJ's ass and he was going to get indicted and dropped from the ticket.   A lot of this went through Chicago with Sam Giancana and the tribe.

Just before JFK got whacked, LBJ had a another brewing scandal with a multi billion contract (a lot of money then) with General Dynamics. I am not sure if it was the F-111.  Well GD is AIPAC tribesman Lester Crown.

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

Who was Obama's earliest and biggest contributor?   Who was also a big backer of McCain?  This is one of the faces of MIC.

Sat, 02/15/2014 - 03:55 | 4438997 artless
artless's picture

Start counting with the fascist FDR. LBJ was a disaster but FDR laid the ground work for the MIC, The Free Shit Army, and he created the Empire, fucked up global trade, created the environment for The Cold War and paved the way for truman's mass murder of japanese. 

Even if LBJ had never existed we'd still be faced with the very same problems. 

Fri, 02/14/2014 - 19:50 | 4438116 rlouis
rlouis's picture

I would prefer a literacy test before being given a license to vote.   

Fri, 02/14/2014 - 20:43 | 4438247 NoDebt
NoDebt's picture

I'd settle for just a photo ID check to vote.  

I've learned to accept a much lower bar than I'd like.  Sadly, we won't even have ID checks to vote- now or ever.  Show up and you can vote.  Circle back to the end of the line, vote again.  And again.  And again.  Then just for good measure, clear all the votes after the polls close and plug in whatever numbers you want.  Philadelphia does.

Fri, 02/14/2014 - 20:58 | 4438308 Oldwood
Oldwood's picture

There are all kinds of political treasures in the voting schemes, but one might be the thought by allowing more people to vote would create the illusion that what they were experiencing was their choice of government rather than the one actually imposed upon them. It has become unavoidably obvious that EVERYTHING depends upon illusion.

Fri, 02/14/2014 - 22:44 | 4438588 logicalman
logicalman's picture

Please explain to me the point of voting.

None of the bastards on the ballot gives a shit about you, only the wealth they can extract from you interests them.

If they steal it from the majority, they don't have to work too hard themselves.

Billionaires shouldn't exist on a planet where some people have to make it on a dollar a day (some just starve)

I hate living in an insane asylum.

Sat, 02/15/2014 - 00:01 | 4438751 mark mchugh
mark mchugh's picture

lm,

"The only thing necessary for the triumph of evil is for good men to do nothing."

Your points are well taken, but I think the point of voting is trying to shape a better world through collective agreement rather than bloodshed.  I think the majority of Americans are still decent people, but they allow themselves to become divided over secondary issues, and all too often, they walk away from the process entirely.

Sat, 02/15/2014 - 01:00 | 4438868 logicalman
logicalman's picture

OK so vote - do you want a punch in the stomach or a kick in the shins?

That's the level of choice you are given.

Sat, 02/15/2014 - 01:39 | 4438900 mark mchugh
mark mchugh's picture

True, but to some extent, that's our own fault, isn't it?

http://www.gallup.com/poll/151943/record-high-americans-identify-indepen...

Indepenents: 40% Democrats: 31% Republicans: 27%

Those numbers tell me a great big chunk of our population are as unhappy with the stomach/shins choice as you and I are.  We have to demand better, not give up on the process.

Sat, 02/15/2014 - 04:10 | 4439004 artless
artless's picture

Really? It's my fault? I didn't have a say in the creation of this fascist police state shit hole, I cannot in good conscience vote for ANYONE who supports any form of coercion or violence through which "government" would achieve its goals and I do not acknowledge the priciple that any man or any group of men-no matter how many elections they care to hold-have any right to power over me. Period.

I do not believe in the utter crap of the greter good, the collective, or whatever ones describes as a "nation". I did not choose any of this. yet I am FORCED to participate in an immoral, fraudulent ponzi scheme called social security just so that I can be "allowed" or granted the priveledge of entering into a contract of my labor with another individual or group of individuals so that an armed third party can confiscate a portion of MY LABOR through the threat of putting me in a cage if I resist whe it's exactly none of theirs, yours, or anyone else's fucking business what agreements or contracts I make of my own will in order to just fucking feed myself unless, of copurse, if I or the party for whom I exchange my labor infringes on the liberty or property of someone else.

Got it? 

Sorry buddy. I do not deserve any of the fucking shit mess that all you asshole "voters" have created over the years.

Sat, 02/15/2014 - 04:14 | 4439009 artless
artless's picture

We have to demand better? 

What like demand a "better" criminal entity? Demand a better sociopath come foward to ruie us helpless plebes?

I don't need any leaders, rulers, or wise men to tell me whet to do.

Here's a suggestion: How about we demand NOTHING?

Sat, 02/15/2014 - 14:42 | 4439828 mark mchugh
mark mchugh's picture

Hey Asshole,

I'm hearby offering to pay to deliver your pathetic ass to whatever country you choose, provided you denounce your US citizenship and never return.

You're a bitch and we're better off without you. 

Got it?

 

 

Sat, 02/15/2014 - 14:56 | 4439873 mark mchugh
mark mchugh's picture

And just to be clear, the offer was 100% sincere.  ZH knows how to get in touch with me.

Fri, 02/14/2014 - 22:34 | 4438551 mark mchugh
mark mchugh's picture

Literacy would be nice, but I think a far bigger problem is that we allow people who are not tax payers to vote.  And while you may think I'm referring primarily to welfare recipients, I'm not.  The parasites that pose a far bigger threat are government employees.

Government employees are, by definition, not taxpayers.  (They get really mad when you remind them of that, too).  

The $350k watch douche is a moron.  He's not propping up the government.  Government deficit spending since 2004 has been greater than the salaries and wages of all Federal, State and Local government employees.  So his tax dollars haven't gone towards a single nickel of government salaries.

 

Fri, 02/14/2014 - 19:54 | 4438121 syntaxterror
syntaxterror's picture

Right now, the current setup is $1 million equals 1 vote. So, be careful watch you ask for captain shit stain.

Fri, 02/14/2014 - 19:57 | 4438134 Pseudo Anonym
Pseudo Anonym's picture

if perkins is paying taxes, he should fire his accountant.  or cannt he afford an accountant that would find loop holes to write everything off so no taxes are paid?

Fri, 02/14/2014 - 21:00 | 4438306 Tall Tom
Tall Tom's picture

We already HAVE the system that Perkins proposed...WITH JUST ONE DIFFERENCE. So many miss the point.

 

The difference is that the CASH, instead of being paid directly to the US Treasury, is paid to LOBBYISTS, who pay the politicians to vote on their pet projects.

 

Perkins is just RUBBING IT IN EVERYBODY'S FACE.

 

Perkins is paying Lobbyists. Only the poor working schmuck pays taxes. Perkins gets result for that which he is paying.

Taxpayers also get results that they do not want, or, want to pay for.

 

If everybody is so pissed off at Perkins for being an arrogant asshole then you had best start to TRANSFER YOUR ANGER TO WHERE IT RIGHTFULLY BELONGS...

 

ALL OF THEM.

 

That means the Corporate Boardrooms, the Politicians and the Washington Lobbyists...the Lawyers.

 

Gated Communities need to be turned into ovens. Wealthy Areas need to be razed by a cleansing fire.

 

If one is complicit in Gaming the system then they need to go to the Guillotines.

 

So we are one day closer to realize the Economic Collapse.

 

As I sharpen my Cold Steel...

Fri, 02/14/2014 - 21:11 | 4438350 Oldwood
Oldwood's picture

Excuse me Tom, but you are a fucking idiot.

There is no doubt that corruption is rampant, but almost everyone is on the take now in one form or another. I work amongst all types every day and when we see people who are truly busting their ass to get ahead, rather than bitching and moaning cause they ain't got a nice watch too, I will go to battle for them. Until then, you can talk of your pathetic revenge all you like but it will end far worse that you could ever hope for. Maybe your bullshit makes you feel better, more empowered, but it really only makes you look weak.

Fri, 02/14/2014 - 23:22 | 4438673 Big Brother
Big Brother's picture

Tall Tom & Oldwood:

I always enjoy reading your posts.  They tend to have tact and insight, really add to the Zerohedge experience.  Generally, as I've read these comments after watching the clips, I've most of them are of the ad hominen persuasion.  If one cannot argue against his talking points, then attack his age or his choice of attire and accessories, or his wealth.  And your posts as well assume Mr. Perkins got to where he is by lying, cheating, and stealing; or least political favortism.  There is no proponderance of evidence to support that.

http://en.wikipedia.org/wiki/Thomas_Perkins_%28businessman%29

It would appear he took risks, put out a good product (my company uses HP laptops exclusively), and generally improved many worker's productivity.  Obviously, he does pay taxes.  Clearly he's not on a board of bank that received a bail-out. He pays capital gains tax on his K1 distribution, which is 15% + the new 2% for ObamaCare for high income earners.  I'm sure he pays plenty of sales tax, property tax, franchise tax, etc.  He has skin in the game.  I pay federal, state income taxes, captial gains tax, property tax, sales tax.  Clearly I do too. 

The "$1" to vote tax is more symbolic than anything as it represents the voter having "skin in the game".  If one has no skin in the game, one can vote a pay raise (an entitlement increase or new entitlement) without a direct tax increase.  His recommendation would be an effective countermeasure against this risk.

His concerns have merit.

Fri, 02/14/2014 - 20:04 | 4438153 fuu
fuu's picture

FTFA: "An incredible amount of money has flowed into venture capital," he said. So, when students drop out of college and move to Silicon Valley to start companies or design software, "There's so much money [in Silicon Valley], that they can keep failing and failing, so they aren't learning in college anymore."

 

Yes starting businesses is why this country is failing.

 

"He blamed Lyndon B. Johnson's social programs for an increase in out-of-wedlock birthrates and low-income single parent households. Fiscally, Perkins said that the government spends too much money on entitlement programs, an issue highlighted by the debt that the U.S. accrues as a result."

 

Yes, yes, yes but TARP was fine because it created jobs or something.

Fri, 02/14/2014 - 20:06 | 4438159 buzzsaw99
buzzsaw99's picture

the guy looks like he needs a dry diaper

Fri, 02/14/2014 - 20:09 | 4438166 Spastica Rex
Spastica Rex's picture

Wrong side of the guillotine.

Fri, 02/14/2014 - 20:12 | 4438167 HurricaneSeason
HurricaneSeason's picture

It would cut out the middleman if anything important was decided by voting, other than selecting the middleman. I think he's missing the point of how democracy works, actually. Votes don't get anything done, congressmen do. Buy them.

 

Fri, 02/14/2014 - 20:15 | 4438172 b_thunder
b_thunder's picture

A bertter idea:  1 Glock, 1 Vote

Also, 1 AR-15, 2 Votes

 

Fri, 02/14/2014 - 20:57 | 4438295 Axenolith
Axenolith's picture

Crew served weapon or AFV = WIN! :-)

Though crew served weapons are bullet magnets...

Fri, 02/14/2014 - 21:02 | 4438327 Tall Tom
Tall Tom's picture

Bullet Magnets??? Try Rocket Propelled Grenade Sponges.

 

How many votes are RPG's worth?

 

Do you know how to make them?

Fri, 02/14/2014 - 20:15 | 4438178 SmittyinLA
SmittyinLA's picture

That's what we have now, and those rich assholes are voting for mass tax-parasite immigration. 

this guy runs a crony Socialist greenenergy hedge fund, http://www.kpcb.com/companies  they rely on the "we pay no taxes" crowd to vote in his crony-phony green energy Socialism.

Perkins has gotten rich off of the stupidity of CA voters that pay no taxes.

He's a damn parasite exploiting the stupid.  

Fri, 02/14/2014 - 20:20 | 4438186 Pumpkin
Pumpkin's picture

This idiot has no idea what the fuck is going on.  Someone needs to inform him that the dollar is owned and printed by a private entity and it is not held accountable for anything.  And his stupid ass is bitching about people eating and having a roof over their head?  We have rope for you. 

Fri, 02/14/2014 - 20:18 | 4438187 gwar5
gwar5's picture

Yes and no to this guy...

It already is $1 and 1 one vote for oligarchs like him buying the politicians. So a big FU to that.

But take the oligarchs and the FED (private central bank) out of the equation and it used to be the property holders who were the societal stakeholders (read taxpayers) who were the voters of yesteryear.

The other alternative is millions of economic refugees flooding the country, no skin in the game, who will kill granny (who paid 40 years into the system) so they can get their free stuff.

Fri, 02/14/2014 - 20:20 | 4438192 Nick Jihad
Nick Jihad's picture

When it comes to a shareholder's meeting, the rule is one share = one vote. Does anyone think that this is in any way unfair?  Then why is it fair that those who pay no taxes, get the same voting weight as those who do?  Maybe 'one tax dollar -> one vote' is too extreme, but 'one stomach -> one vote' is extreme too.  I don't like 'military service -> full citizenship', or other such plans, but something has got to change.

Fri, 02/14/2014 - 20:22 | 4438199 SmittyinLA
SmittyinLA's picture

The firehose of cash he speaks of in the silicon valley is entirely provided by the state, first with decades of military research spending which his "investors" pirated from state universities, and now mountains of CO2 tax revenue cash directly collected from everybody's electrical bill and funneled directly to Al Gore & Co-his partner.

Fri, 02/14/2014 - 20:28 | 4438209 SmittyinLA
SmittyinLA's picture

I propose everybody that votes for illegal immigrant tax parasites has to pay for them, shut that bitch up in a nano second.

When you look at the "pay no taxes and vote in benefits from the rich Socialist voter block" its foreign, invited in and protected by Perkins and his golf buddies.

Fri, 02/14/2014 - 20:30 | 4438220 mumbo_jumbo
mumbo_jumbo's picture

"and his biggest fear is higher taxes until there is no 1%"

 

well welcome to the party you slimy cock sucker, you didn't seem to have a problem eliminating the middle class by sending all the well paying jobs to china so now most Americans don't even make enough to pay taxes.....as a matter of fact many won't make enough in their whole lives to afford your fucking watch.

so fuck off.

sorry i blew up

 

 

 

 

Fri, 02/14/2014 - 20:38 | 4438239 drendebe10
drendebe10's picture

Only people who pay taxes should have the privilege to vote. Pay no taxes, no vote. Oh, yeah. No valid government picture ID? No vote.  Cant get on a plane with no ID but u cn vote without one? Aint this gummint great?

Fri, 02/14/2014 - 20:50 | 4438273 Axenolith
Axenolith's picture

Shit, half of you people seem like you should be posting on DU and whining about how the running dogs are fucking up your utopian revolution...

He was being sarcastic about the $1/vote part, but for shits sake owning something or at least fucking paying taxes should be a prerequisite to vote, either that, or if you're a politician and you promise ANYTHING fungible to individuals or corporate groups you get beaten to death like Tommy DeVito in Goodfellas...

Fri, 02/14/2014 - 20:52 | 4438274 q99x2
q99x2's picture

Arrest him for treason. Throw him into prison and redistribute his stolen wealth. Don't let him get away.

I'll get Yellen to up my FAFSA just to increase your taxes. Loyd Blankfein is coming to do God's work on you, you decrepit carcass of a pedophile. Just because you can doesn't mean you should. Take your golden calf to God M'fer. Get out of my country, and so on.

Nobody believes you because you are old and losing a battle that ends in death. That is why you are being so public lately. You are a ghost and the youth of America sees right through you.

Fuck you too.

People of the future will look up your name and read: Tom Perkins -- the disgrace of all humanity.

 

Fri, 02/14/2014 - 20:56 | 4438275 QQQBall
QQQBall's picture
  • He can buy my vote for 50 cents
  • A $360,000 wrist watch is obscene - bragging about it is worse. 
Fri, 02/14/2014 - 20:50 | 4438277 Kreditanstalt
Kreditanstalt's picture

Sorry, but Perkins makes a lot of sense.   Only not to the zero-net-worth, savings-less, dependent-on-government masses...

Socialism - and price inflation - is a CERTAINTY.

Fri, 02/14/2014 - 22:46 | 4438589 Atticus Finch
Atticus Finch's picture

You probably think you have your position because of your skill and talent. I know many who smuggly had your same point of view until they were thrown out on their ass and found out that no body cared one IOTA for their skills and talent when all the jobs were shipped to China. Truly are you really as stupid as your blather.

Fri, 02/14/2014 - 22:48 | 4438601 Atticus Finch
Atticus Finch's picture

Price inflation? OH, you talking the trillions given to the banks that is an inflationary time bomb. When was the last time you read a book that bears any relevance to the current world. You're like 85 years old right?

Fri, 02/14/2014 - 20:54 | 4438286 stant
stant's picture

not only stupid for spending that nuch for a watch . but also for believing voteing matters

Fri, 02/14/2014 - 20:55 | 4438294 therover
therover's picture

I vote to shove that 350K watch up his ass.

Fri, 02/14/2014 - 21:06 | 4438338 Bastiat
Fri, 02/14/2014 - 22:14 | 4438498 DYS
DYS's picture

I bet it's so light and comfotable, he'd hardly notice.

Fri, 02/14/2014 - 21:04 | 4438326 Kreditanstalt
Kreditanstalt's picture

47% are net recipients of taxpayer-funded services.

Fri, 02/14/2014 - 21:10 | 4438343 mumbo_jumbo
mumbo_jumbo's picture

are you including the individuals AKA corporations that pay zero tax but get tax credits and mega farmers with their massive subsidies in your analysis??

or just picking on the poorest among us like Perkins likes to do?

Fri, 02/14/2014 - 21:16 | 4438362 Kreditanstalt
Kreditanstalt's picture

I'm all in favour of everyone paying "zero tax".  And everyone who gets a "tax break" is a winner.  Subsidies, however, require other people's money...quite a different thing.

Can't have one rule (PAY) for the rich and another one (deserving recipient) for the poor...

Fri, 02/14/2014 - 22:42 | 4438579 Atticus Finch
Atticus Finch's picture

Like subsidizing McDonalds and Walmart with a food stamp program on the backs of tax payers because these corporation won't share profits with the employees who made it possible and recommend that underpaid employees go on food stamps so that corporations are entitled to another bail out from the tax payer. Are you really as blind as you seem.

Fri, 02/14/2014 - 23:20 | 4438671 Kreditanstalt
Kreditanstalt's picture

Why don't you try blaming the governments and their social welfare spending instead of corporations who are rightly taking logical advantage of it?  I use any tax refund I get to pay property taxes; any child tax benefit to pay internet & phone bills...wouldn't you?

Fri, 02/14/2014 - 21:36 | 4438412 logicalman
logicalman's picture

Biggest welfare queens are the banks.

Sat, 02/15/2014 - 08:06 | 4439059 Disenchanted
Disenchanted's picture

Followed closely by the MIC...and that includes 'the troops'

Fri, 02/14/2014 - 22:38 | 4438567 Atticus Finch
Atticus Finch's picture

Interesting that the cost of war is never in the discussion of government debt. Independent auditors determined that of the 16 trillion dollar deficit, 12 trillion of military spending could not be accounted for.

Fri, 02/14/2014 - 21:09 | 4438346 viahj
viahj's picture

with every day that passes, what should be obvious is the brazen attitude of our "betters" who are demanding more for themselves.  they are at the point where they don't even try to hide, they are in our face.   

when the people get hungry and cold, the guillitones will roll (*LOP) until then, keep it local, build your tribe.

Fri, 02/14/2014 - 21:18 | 4438369 Kreditanstalt
Kreditanstalt's picture

They're *not* "demanding more for themselves"...they're demanding to keep what they've earned.  It's the 99% demanding other people's money...

Fri, 02/14/2014 - 22:09 | 4438395 viahj
viahj's picture

it's a rigged system and they are demanding more power to control the system.  allowing "free democracy" and a vote for every "soul" hasn't worked but eliminating those without assets to influence the process is feudalism. there is no perfect solution to the imperfections of humanity but centralized authority has never been the answer. 

 

edit:  i'm trying to take a different path and it is very difficult seeing how i've been buried in what our species calls civilization.  all life is important so it should not be wasted and throughout the cosmos, all life has a fundamental goal...to thrive.  leave it to the "evolved" apes on Terra to envision a system where those who hold vast wealth in paper, make the rules.  they thrive on the illusion that they are in control of the resources and all others should just lay back and accept their rule.  sorry, but if i see a life in need, and if i can help, i try to do so.  this isn't in response to your post but just a tile in my tapestry and maybe an explanation as to why i can't follow your sense that the "99%" or the 47% who are dependent on the system thus vote to their benefit should be discounted.  believe me, i think humanity is sick and is in serious need of reform, i just am trying to choose to not to fight within our current paradigms of "wealth" and "value".

Fri, 02/14/2014 - 21:37 | 4438415 logicalman
logicalman's picture

Do you think he EARNED all his money???

If you believe that, you'll believe anything.

Come back when you have something worth saying.

Fri, 02/14/2014 - 23:45 | 4438724 Big Brother
Big Brother's picture

Through patent licensing, intellectual property royalties, dividend payouts...  These are all legitimate forms of earnings.  They have favorable tax structures too.  Maybe in your mind if you didn't hit punch-clock, you didn't earn it. 

Fri, 02/14/2014 - 21:19 | 4438372 kchrisc
kchrisc's picture

If one understands how the criminals of government and their thieving bankster masters work, they would understand that the middle and bottom do indeed pay.

 

"Guillotine time."

Fri, 02/14/2014 - 21:20 | 4438375 faroffthunder
faroffthunder's picture

"$1, 1 vote"

>_>

What a fucking felcher.

Fri, 02/14/2014 - 21:22 | 4438385 eddiebe
eddiebe's picture

Tom, are you listening?  Fuck You! 

Fri, 02/14/2014 - 21:31 | 4438406 BadKiTTy
BadKiTTy's picture

What a twat - it's $'s equals votes now (or rather $'s buy the politicians the voters vote for..... Same thing)

Fri, 02/14/2014 - 21:39 | 4438421 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

I'm thinking that 350k watch is good for what 2 or 3 politicians bought off if he hawked it. Better R.O.I. than spending 350k for 350K votes one time only.

Fri, 02/14/2014 - 21:43 | 4438431 El Vaquero
El Vaquero's picture

Well Tom, 30-06 is ~$1/rd, so you had better be careful what you wish for, because there is more than one way to cast a vote.

 

Seriously, what the cocksucker is advocating is outright oligarchy.  Well, guess what?  We already have it!  Pay the poor to keep them fat, stupid and voting and suck the rest of the wealth up while under government protection. 

Fri, 02/14/2014 - 21:56 | 4438453 williambanzai7
williambanzai7's picture

Fri, 02/14/2014 - 22:14 | 4438506 groundedkiwi
groundedkiwi's picture

Lets just let the Corporations vote. They are people after all, and already rule our politcians.

Fri, 02/14/2014 - 22:35 | 4438554 Atticus Finch
Atticus Finch's picture

I think a round is 26 cents.

Fri, 02/14/2014 - 22:35 | 4438562 Cabreado
Cabreado's picture

And you thought I was just kidding about the pathologically Self-Absorbed...

and just for more fun... as you see, their entitlement too blinds them from their self-exposure.

They always expose themselves, eventually.

Fri, 02/14/2014 - 22:39 | 4438570 logicalman
logicalman's picture

With the price of gasoline these days, 'cocktails' are getting expensive!

Sat, 02/15/2014 - 00:28 | 4438778 ArthurDaley-Old...
ArthurDaley-OldieTimeTrader's picture

First time poster, & I am financially somewhere between a 99% and a 1%.

 

Tom Perkins if you are reading this blog, You've lost the plot. The issue is you have a cake, the real issue is  how does any one slice the cake? At Walmart they have lots of folk who work there for $10/hr but the Walton family earns monster dividends on their equity holdings. Its all about how we slice the cake.  We all are going into a new paradyme where if the going wage is close to $20/hr there's a real chance of that job being automated away. However if you are living in India and get paid $3/hr TPTB won't make the effort to mechanise your job to a robot.

20 Years ago Charlie Rose interviewed Sir James Goldsmith. Back then Jimmy Goldsmith figured out that GATT had f**ked American workers. http://www.youtube.com/watch?v=4PQrz8F0dBI . Jimmy was a smart guy. I met him one time. Alas we need more of his kind  who understand the problems. Jimmy was a republican and not a democrat but understood if you don't give up enough of the profits the "The crowd is restless Ceasar"

Income inequality led to a revolution in Moscow. If TPTB & Tom Perkins and his ilk  don't get the message from history then git the f**k out of the USA 'cos at some point the 99% are coming after you and your wealth.

 

Sat, 02/15/2014 - 01:12 | 4438875 magne13
magne13's picture

I agree 100% in fact if we can get a leader to stand up and institute an imediate roll back to 1960s tax rates where the top tax rate was 90%, i would reinstall glass steagall and i would throw out every regulatory in the government sector.  There are no more anti trust laws, for goodness sakes Comcast can buy TW, what the hell happened in 1986 did we just bust up ATT so that we can have more individual stocks for the 1990s guys to buy to only reconsolidate everyone again over the 2000s and then bust everyone up again in the 2020s? this damn rinse recycle repeat is getting fucking old, any way if Americans were smart they would yank any money out of banks and simply live off of cash and put their savings in gold, for if there were no banking reserves, theis plutocracy would get wiped out.

Sat, 02/15/2014 - 11:53 | 4439363 MagicMoney
MagicMoney's picture

Yet tax revenues were less in the 60's than today. You must understand there was a lot of loopholes back in those days. Tax revenues were comparatively normal despite official tax rates being so high. Income inequality is largely a political exploitation. Yes there is income equality because people have unequal abilities. Chinese were more equal under pure communism, yet became much wealther with "capitalistc" reforms.

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