Swiss to vote on executive pay limit

[Spade]

no, you are first class.

 

[captain morgan]

What? Our economy that was once strong and healthy collapsed are you saying it didn't?

You think that the economy has collapsed?

Not even close.

I didn't give a solution, I don't have a solution, I am not an economist. I told you that. What is clear is that change is needed. I told you that too.

Therein lies a major problem. You are forwarding knee-jerk reactions that have more to do with an ideological distaste of one group moreso that trying to take a reasoned approach to forwarding something tangible that addresses the actual problem

You have that right... the best minds still aren't 100% sure what happened but all the manipulation of the market and people buying homes they could ill afford certainly didn't turn out the way they had hoped it would
my position is very clear, the lowest percentile will not destroy our economy the top have

Then, how is it that you can comment on the cause of this event?

she already has...

So, your belief is that by shrinking the investment capital and resultant tax pool, the single mum on welfare will be in line for even more support, resources and opportunity?

Cheer up you win there. I am now in the lower middle class. I already lost my job, my benefits, my pension, the expensive car once remember. Sucks to start over again I can tell ya especially when you are older, but us middle-classers are resilient, we work hard and bounce back. My ex-boss who bankrunpted though he still has all of the expensive cars and his two homes up here and his one in Florida and the wife is still diamond decked so it's all good. He seemed to have protected himself just fine.
If I could do that, I wouldn't be lower middle class.

Yeah, that's it.. I can't fool you any longer, ya caught me.

My sinister master plan was all about that and nothing more

 

[Sal]

Of course! Not only is it relevant to this discussion, it would warm your soul.

awesome, I am going to look for it...thanks Spade!

You think that the economy has collapsed? Not even close.

Good to know. I still think we are heading down a bad path and it won't be like the boom years for a long long long time.

Therein lies a major problem. You are forwarding knee-jerk reactions that have more to do with an ideological distaste of one group moreso that trying to take a reasoned approach to forwarding something tangible that addresses the actual problem

not really, I would just like to see things stable and know that the little guy gets a fair shake and I will always fight for that. In a book I recently read, the author is from Indianapolis. They are middle class. The winter everything collapsed they had no heat and very little food. That is reality. They are hard working people who took the bait.

Then, how is it that you can comment on the cause of this event?

Is there some reason why I should not? You and I do not see eye to eye on social issues. I told you from the get go that you understand economics far better than I but that I understand people far better than you. I come from it from a people perspective, you do not. Thus we will never see eye to eye on social issues. My approach may be wrong as far as you are concerned and I may disagree with 99% of what you say, none the less we should still dialogue about this. Otherwise people live in their own ignorance and never move forward. I may strongly argue my point as do you but if I take away a little something, and if you take away a little something...the whole world has moved forward a bit has it not?

So, your belief is that by shrinking the investment capital and resultant tax pool, the single mum on welfare will be in line for even more support, resources and opportunity?

Why do you keep saying that I am putting forth a solution. I am not. See above.

Yeah, that's it.. I can't fool you any longer, ya caught me.

I have zero idea of what that means but I think it is not something you would care to expound upon. but it you do...go for it, I'm all ears

My sinister master plan was all about that and nothing more

What sinister master plan?

 

[Walter]

Unfortunate. I was curious about what effect it might have. Oh well, I imagine some country will eventually test it.

Been tested lots: USSR, East Germany, North Korea, Cuba, Venezuela, many African countries....

 

[Sal]

Been tested lots: USSR, East Germany, North Korea, Cuba, Venezuela, many African countries....

hey honey bunny, you keep giving me reds all over the board like that, it must be the spirit of Christmas shinin' on through... Merry Christmas Walter...

 

[Walter]

hey honey bunny, you keep giving me reds all over the board like that, it must be the spirit of Christmas shinin' on through... Merry Christmas Walter...

You're earning every one. Merry Christmas to you.

 

[Sal]

You're earning every one. Merry Christmas to you.

lol,,,thanks, it's beginning to feel a lot like Christmas

 

[Tonington]

It's funny to compare the comments on a story like this, with the comments on a story like the striking union workers in Illinois. They are striking over a 14.5 % wage increase that they say won't cover increased healthcare costs. Commenters here say they can probably find someone to fill their shoes.

I work for one of those big corporations with headquarters in Basel, and you'd have to be a brain dead moron to imagine that there aren't a long list of competent leaders in a company of 120,000 that couldn't do the job and wouldn't, for no more than roughly $500,000 a year!

In the end, bonuses aren't salary. This referendum was about salary. They would have stepped around the law with bonuses at year end.

 

[Sons of Liberty]

How much is enough?

The amount that shareholders are willing to pay, that's how much.

 

[coldstream]

France has instituted a 75% marginal income tax rate on income over 1 million Euros. Those that have the capacity to make that have moved themselves and their business' away from France.

The winner(s) in this case are the new communities that will have that business there along with the employment that comes along with it.. That owner or individual that makes 7 figures will still make that money and spend much of it in that new community.

... So, has the helped France one iota?

I haven't looked in detail at the new French Law.. but if it does not include Capital Gains into the determination of income at par with earned gains.. then the law will be completely counter-productive.

It must also make provision to prevent money from moving out of country to tax havens. Then it will work. The only people who will leave are financial parasites in banking and investment. Real productive sources will stay put because they have to invest where their products are produced and labour is available to make things (or extract resources).

Which brings up the other critical element in this. That is sufficient tariff and inflow control is needed to ensure that money won't flow out to take advantage of the cheapest labour and lowest taxes. It's nothing new. It is exactly the way the global economy was organized immediately after WW2.. which produced the greatest increase in real, equitably shared wealth in the history of the world.

It was only when Global Finance and libertarian economic principles started to systematically dismantle that system in 1971 (starting with rescinding the Bretton Woods Agreement of international currency control).. that everything started going off the rails.

The world's economic system today is a house of cards. It has no structure or substance. Just a sea of money washing around the Globe searching for a safe haven. But there is no safe haven.. from a global economic collapse.

That is imminent and it will be manifested in a series of shocks.. like those of 2008, of ever greater magnitude and ever shorter duration between troughs.