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The Stock Room page 37 |
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(Continued from page 36) After a totally disgraceful and selfish week in both Washington, D.C. and in our financial markets, I leave you with this thought, but please read (if you haven’t already done so) the prior few comments—they’re even more critical this weekend. In our case, it’s really not too late Jim! “The needs of the many outweigh the needs of the few!”
I really don’t want to go to this Nation’s or even Rupert’s funeral any time soon. We have allowed a few greedy shorts and narcissistic politicians to turn us into Greece! All we need now are some moronic ‘tweets by twits’ to turn us into Egypt! “Of all the souls I have known, his was the most… human!”
_______________________________________ apppro’s take for 07/29/2011 @12:30 pm EST: A really nice reader sent me the link to the Sharpton video. It wasn’t a Congressman, but rather a Tea Party founder from Dallas, but the end result and my commentary are EXACTLY THE SAME. With what’s going on today in Washington and the short seller insanity it’s causing in our markets – well it is even more pertinent! (The comment comes at the 5:54 mark so you can forward thru to that. Listening to http://www.msnbc.msn.com/id/3096434/#43936114 ENOUGH IS ENOUGH! STOP THE INSANITY NOW! - - - - - - - - apppro’s take for 07/29/2011 @08:30 am EST: “When Al Sharpton Gets It, Well…” I want to say that I am desperately looking for the video or any clip from a MSNBC show that I caught while I was channel flipping last night. I am lacking some names, but what occurred is EXACTLY why we are in such a mess.
Anyway, the Mad Tea Party’s When Al Sharpton gets it and the people in charge DON’T… well we’re really in deep shit! _______________________________________ apppro’s take for 07/26/2011 @08:30 am EST: “The 3rd Porridge Society” One of those very traders/traitors (especially in that ‘useless gold’) wants you to think that it’s OK that we postponed everything until as he puts it, “We decide on a left-wing or right-wing government next year!”
I find NOTHING appealing about either of his alternatives, but for him insanity and market volatility is as he puts it, “I’m OK with that!” Well, I’m NOT and NEITHER should you be! We need the 3rd variation - what I call the “3rd Porridge Society”... Not too hot (right-wing), not too cold (left-wing), BUT just right (moderate in the middle approach)! (Goldilocks was already taken.) What is wrong with all of us? And as far as musicman’s comment in the prior post, what I am trying to get across is basically the same thing that Warren Buffett himself has tried to get across – that many out there are NOT paying normal tax rates like the rest of us, but rather they get away with paying a 15% rate based on capital gains rates – NOT THEIR FAIR SHARE! (Forgive me for linking the Huffington Post!)
Warren Buffett: Read My Lips, Raise My Taxes - ABC News I also strongly feel that all the short-term traders/traitors that have engulfed the markets are killing our economy and OUR Nation as a whole. To them I say, “To heck with you!” and we should get those criminals like they got Capone! STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains 5+ years* - 5% tax on capital gains 2. Capital gains 2 > 5 years* - 15% tax on capital gain 3. Capital gains 1 > 2 years* - 35% tax on capital gains 4. Capital gains 6 > 12 months - 45% tax on capital gains 5. Capital gains under <6 months - 55% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund. *Anyone whose main source of ‘income’ (retired persons excluded) that comes directly from capital gains, should be taxed at never less than the 1>2 year 35% rate—no matter what the cg term length. The 5 Golden Rules 1. Immediately, reinstate the Up-Tick Rule. 2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s. 3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility. 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund! 5. Have ALL ETF’s trade on a 20-minute delayed basis. Get these instruments of mass destruction back to what they were supposed to do: mimic mutual funds. _______________________________________ musicman’s take for 07/26/2011 @07:00 am EST: You write, "BUT AT LEAST make hedge funds that are purveyors of destruction and greed just pay the SAME % amount as the rest of us!" However, we are a “laissez-faire economy,” or at least in theory. Therefore, it is the job of the government to collect taxes from industries and the citizens of their nation. The government cannot tax a sector of an industry. Asking them to do that is like asking MLB to tax “Home-Run Kings” (cause they tend to make more money and did ruin the game of baseball during the steroid era). The government should force the Fed to regulate them, just as MLB held club owners and the players responsible for taking steroids in order to boost their Home Run stats. _______________________________________ apppro’s take for 07/25/2011 @06:00 pm EST: Have We NO Respect for Ourselves?
Challenging Obama, GOP unveils House debt bill - politics - Capitol Hill - msnbc.com
It appears that both parties in Washington have put forth new proposals on the budget that are supposedly at least somewhat closer to each other. WHO CARES! NEITHER has any tax adjustments (I don’t want to use the word increase!) and I find that totally unacceptable. Are we all that eager to allow a few to short our entire Nation back into the toilet AND to pay little to no taxes on that ill-gotten booty to boot? Why are we all so willing to turn the other cheek and let these guys sneak it up our rear again? What is wrong with all of us? When did scoring some mystical political points become more important than doing the right thing? Come on people… no one wants to pay increased taxes, BUT AT LEAST make hedge funds that are purveyors of destruction and greed just pay the SAME % amount as the rest of us!
STOP THE INSANITY NOW! I’m not hopeful! Oh, you see gold? New all-time high of $1612.00. _______________________________________ apppro’s take for 07/23/2011 @09:00 am EST: “Insanity Train in D.C. Rolls On!” I guess you all have heard by now that Tweedle-Dee How about if we KICK ALL THEIR SORRY ASSES OUT OF TOWN instead! Again we seem to be under the gun all because of tax increases. To this I say: Hey Prez – give the oil and private plane tax increases a break. They won’t matter that much and all they’ll really do is drive up consumer prices. Hey Madhatter & Boehner – Tell your Mad Tea Party invites to give this ‘No Tax Increase Pledge’ the thing it truly deserves, a quick flush down the I will say it again, just get everyone to pay their fair share and that’ll help solve some of the problem. Here is a perfect example of what is truly emblematic of the dysfunction in D.C.
YES, you’re reading that right… a 32.6% increase in my health insurance policy. Hey (Continued on page 38) |
