Now here is a BILLIONAIRE I think should run .....
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- Video Poker Master
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Now here is a BILLIONAIRE I think should run .....
Carl Icahn is one of the richest men in America, and the world; in this article he accurately and succinctly points out the single greatest problem facing the USA, and the world (just look at Europe), and he actually praises DONALD TRUMP for trump's ideas and thinking regarding this crucial, all important issue.Please PLEASE take the time and read this not-too-long article and try to remember, this is one of the richest, most successful businessmen in American History and is by no means some liberal scag:http://finance.yahoo.com/news/read-icah ... .html#What does everyone think?I am in 100% agreement with Mr Icahn, having seen and experienced first hand the exact short term, BS practices and thinking taking place in corporate AMERICA.......too often, too many CEOS essentially act like they won the lottery when they achieve their positions (essentially they HAVE won the lottery!) They receive ridiculously exorbitant salary/bonus/stock compensation, and all they care about (the majority of them) is sticking around just long enough to accumulate some tidy fortune which they can then either retire to a life of leisure, or run off and start their own business (usually some BS consulting company where they charge exorbitant fees for almost NOTHING of value.)Of course there are precious few exceptions.....some CEOs are true rock stars and legitimately concerned (& competent) about adding to their company's value and wealth; and of course I have met a few consultants (like ME ) who genuinely care about what they do and say, know what they are talking about, and who actually GIVE away far more of their time than they charge for it......bur sadly, these are the exceptions.CEO (and all the underling management, like Vice President of <insert meaningless title>) pay and compensation speaks DIRECTLY to the issue of income inequality because, with American Wages being FLAT for so long now, while management/executive pay skyrocketing into absurd levels, the economy is suffering accordingly; 1 (one) single solitary Millionaire CEO making 20 million bucks a year, is NOT going to stimulate the economy and spend enough of all that dough he/she/it makes......but 40 workers at the same company, previously making 50 grand a year who get raises to 65-70 grand a year will have a FAR FAR greater impact on the economy, even though the TOTAL money given to those 20 workers (from 2 million to around 2.5 million bucks) is far less than the CEO's 20 million bucks........this is a simplistic example/analogy but it illustrates the core of the problem crystal clear. CEOs and management in corporate America consume far too much of the liquid capital within their companies in excess of the value (if any) that they truly add.
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The model for success in this country, regardless of who is POTUS, is good paying jobs. Our capitalist system relies on taxes to be paid to fund required services. The more people working at well-paying jobs, the more taxes that are being paid. Increased disposable income fuels new businesses, which creates more jobs, etc.
As an old advertisement used to say "So simple - a caveman could do it".
As an old advertisement used to say "So simple - a caveman could do it".
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- Video Poker Master
- Posts: 4535
- Joined: Thu Jun 16, 2011 12:11 pm
The model for success in this country, regardless of who is POTUS, is good paying jobs. Our capitalist system relies on taxes to be paid to fund required services. The more people working at well-paying jobs, the more taxes that are being paid. Increased disposable income fuels new businesses, which creates more jobs, etc.
As an old advertisement used to say "So simple - a caveman could do it". Exactly......the whole "Supply side/Voodoo Economics", with its trickle down theory that by drastically cutting taxes for the wealthy you (in turn) stimulate even greater economic growth which (in turn) creates MORE tax revenue, is now shown to be totally 100% WRONG. When people refer to the 1980s and the apparent success of the Reagan economic agenda that was allegedly based on Supply Side theory (in fact, it was NOT) they claim all we have to do is repeat the policies......total idiotic hogwash.The world we live in today is so drastically different than 1981 when reagan took office, and a HUGE portion of the economic "success" of the 1980s was due to massive defense spending, and the fact that after Reagan's first year and a half in office, the economy had BOTTOMED out and had no where to go but UP (people forget, in the middle of 1982, after 15 months of Reagan, we had 14.5% INFLATION and 10% unemployment ...this was mostly the hangover remaining from the previous administration's policies...) Eventually, in his last 2 years in office when he no longer needed to worry about re-election, Reagan agreed to tax hikes when the federal deficits reached (for the time) NIGHTMARE levels thanks to Supply side theory being shown to be BUNK; This is the point people need to remember: When RICH people get even RICHER, they DO NOT immediately re-invest that "extra" money back into the economy.....nope, they are far far more likely to simply STOCK it away in some offshore account or some other tax-haven savings vehicle......time after time we see the SUPER wealthy (over 100 million or more net worth) after they achieve a certain level of wealth, become more concerned with STAYING at that net worth and therefore DO NOT want the risk of investing to possibly reduce it......that's just reality. Sure, you can always find an exception to this rule (like warren buffet), but for the most part, this is what happens.On the contrart, TAXES on the wealthy actually can SPUR investment and grow the economy If...IF the tax policy is forward thinking and focuses on taxing things like SAVINGS and other forms of "lazy" capital....if tax policy is structured to actually REDUCE taxes on the wealthy IF....IF they INVEST their wealth in things that will grow the economy, then guess what?!?! The rich will choose to re-invest their wealth rather than see taxes east away disproportionately at it....Again, not rocket science.....