Maxine Waters Threatens to 'Tax Banks Out of Business'

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    Sep 05, 2011 4:31 AM GMT
    And we seriously wonder why there aren't more jobs?

    http://taxprof.typepad.com/taxprof_blog/2011/09/maxine-waters.html

    If [banks] don't come up with loan modifications and keep people in their homes that they've worked so hard for, we're going to tax them out of business.

    Let's also not forget how Obama Administration joked about abusing IRS authority as Paul Caron notes.
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    Sep 05, 2011 4:41 AM GMT
    Too bad they don't have an IQ test to enter Congress.
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    Sep 05, 2011 5:19 AM GMT
    Thank God someone's willing to...
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    Sep 05, 2011 12:09 PM GMT
    Christian73 saidThank God someone's willing to...


    Lol - that you don't even understand the role of finance in capital allocation and claim to understand history and economics is beyond farcical - beyond some basic principles of rule of law. Some things just can't be parodied icon_wink.gif
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    Sep 05, 2011 12:37 PM GMT
    jprichva said
    riddler78 saidSome things just can't be parodied

    You're right, and you're one of them.
    An arrogant ill-educated arrested-development adolescent living in a foreign country and presuming to instruct Americans on how to conduct their political affairs.

    It is beyond parody.


    Coming from the other guy who proves repeatedly that age does not confer wisdom, I'll take that comment in that light. While you're at it, you might want to update your knowledge of finance and business icon_wink.gif
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    Sep 05, 2011 2:18 PM GMT
    riddler said to jp, "Coming from the other guy who proves repeatedly that age does not confer wisdom, I'll take that comment in that light. While you're at it, you might want to update your knowledge of finance and business "

    *laughing to tears* If you knew jp's background you wouldn't have posted that.


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    Sep 05, 2011 2:20 PM GMT
    meninlove said riddler said to jp, "Coming from the other guy who proves repeatedly that age does not confer wisdom, I'll take that comment in that light. While you're at it, you might want to update your knowledge of finance and business "

    *laughing to tears* If you knew jp's background you wouldn't have posted that.


    Actually I do have a general idea - he has noted it repeatedly and in the same breath made some ridiculous and or dated comment about economics or business.
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    Sep 05, 2011 2:20 PM GMT
    socalfitness saidToo bad they don't have an IQ test to enter Congress.



    That would apply to every party having seats in Congress. We often say the same thing up here about our various party reps. That, and an empathy rating test.
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    Sep 05, 2011 2:25 PM GMT
    riddler78 said
    Christian73 saidThank God someone's willing to...


    Lol - that you don't even understand the role of finance in capital allocation and claim to understand history and economics is beyond farcical - beyond some basic principles of rule of law. Some things just can't be parodied icon_wink.gif


    That you don't understand the fact that your supposed "free market" capital allocation isn't actually happening and hasn't been for some time shows how warped the system is, and puts the lie to your constant Miltonian ravings.
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    Sep 05, 2011 2:26 PM GMT
    Christian73 said
    riddler78 said
    Christian73 saidThank God someone's willing to...


    Lol - that you don't even understand the role of finance in capital allocation and claim to understand history and economics is beyond farcical - beyond some basic principles of rule of law. Some things just can't be parodied icon_wink.gif


    That you don't understand the fact that your supposed "free market" capital allocation isn't actually happening and hasn't been for some time shows how warped the system is, and puts the lie to your constant Miltonian ravings.


    You're right - and that is no small part because of the regulatory and other interventions by government in the market which apparently escapes your grasp.
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    Sep 05, 2011 2:36 PM GMT
    riddler78 said
    Christian73 said
    riddler78 said
    Christian73 saidThank God someone's willing to...


    Lol - that you don't even understand the role of finance in capital allocation and claim to understand history and economics is beyond farcical - beyond some basic principles of rule of law. Some things just can't be parodied icon_wink.gif


    That you don't understand the fact that your supposed "free market" capital allocation isn't actually happening and hasn't been for some time shows how warped the system is, and puts the lie to your constant Miltonian ravings.


    You're right - and that is no small part because of the regulatory and other interventions by government in the market which apparently escapes your grasp.


    A great majority of said interventions were lobbied for by the financial services industry as was the extensive deregulation of same. icon_rolleyes.gif
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    Sep 05, 2011 3:29 PM GMT
    socalfitness saidToo bad they don't have an IQ test to enter Congress.
    There would be no candidates..period.
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    Sep 05, 2011 4:16 PM GMT
    Riddler, because for some reason I kinda like you, I'm going to give you some valuable advise. Your coming off as a young intelectual whose learned some exciting theoretical knowledge that just doesn't quite know how to use it, your coming off as rather intilectually arrogant and the arrogance is hard to get past. Your come off as one who cannot wait to tell this knew knowledge and when rebuffed, cannot figure out how or why anyone would not want to rejoice and grasp on to what you 'know' and share to 'enlighten' all the uninformed. Reality is not based only in book knowledge. JP and I have our differences but I'll be the first to say, you can learn from him on this subject for sure.

    For your own good, defer to the knowledge you can glean from JP and others who have been around long enough to know what they are talking about in business and economics. do more listening than telling and you'll better learn how to use your newfound information.
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    Sep 05, 2011 4:21 PM GMT
    realifedad said Riddler, because for some reason I kinda like you, I'm going to give you some valuable advise. Your coming off as a young intelectual whose learned some exciting theoretical knowledge that just doesn't quite know how to use it, your coming off as rather intilectually arrogant and the arrogance is hard to get past. Your come off as one who cannot wait to tell this knew knowledge and when rebuffed, cannot figure out how or why anyone would not want to rejoice and grasp on to what you 'know' and share to 'enlighten' all the uninformed. Reality is not based only in book knowledge. JP and I have our differences but I'll be the first to say, you can learn from him on this subject for sure.

    For your own good, defer to the knowledge you can glean from JP and others who have been around long enough to know what they are talking about in business and economics. do more listening than telling and you'll better learn how to use your newfound information.

    Will just comment that Riddler's knowledge is very practical and he is deeply involved with businesses in multiple countries and in multiple capacities. He doesn't say things that some of the active posters want to hear, but I know there are lurkers who appreciate it. Much of what he writes is not understood. I experienced similar frustration trying to explain interdependent concepts that were similarly not understood.
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    Sep 05, 2011 4:40 PM GMT
    southbeach1500 saidDoes anyone on here support Maxine's brilliant plan?
    Only if it were to target you specifically.
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    Sep 05, 2011 5:07 PM GMT
    socalfitness said
    realifedad said Riddler, because for some reason I kinda like you, I'm going to give you some valuable advise. Your coming off as a young intelectual whose learned some exciting theoretical knowledge that just doesn't quite know how to use it, your coming off as rather intilectually arrogant and the arrogance is hard to get past. Your come off as one who cannot wait to tell this knew knowledge and when rebuffed, cannot figure out how or why anyone would not want to rejoice and grasp on to what you 'know' and share to 'enlighten' all the uninformed. Reality is not based only in book knowledge. JP and I have our differences but I'll be the first to say, you can learn from him on this subject for sure.

    For your own good, defer to the knowledge you can glean from JP and others who have been around long enough to know what they are talking about in business and economics. do more listening than telling and you'll better learn how to use your newfound information.

    Will just comment that Riddler's knowledge is very practical and he is deeply involved with businesses in multiple countries and in multiple capacities. He doesn't say things that some of the active posters want to hear, but I know there are lurkers who appreciate it. Much of what he writes is not understood. I experienced similar frustration trying to explain interdependent concepts that were similarly not understood.


    The problem is not that RJers cannot comprehend Riddler or your beliefs. The problem is that they have been done and have not worked. Ever. In any country at any time in history. In fact, in every country where they have been tried, poverty has soared, political instability rose and most of those countries are now far more socialist than even the much loathed Europe.
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    Sep 05, 2011 5:08 PM GMT
    southbeach1500 said
    TropicalMark said
    southbeach1500 saidDoes anyone on here support Maxine's brilliant plan?
    Only if it were to target you specifically.


    Why are you such a self-loathing gay? Is it because you've already had a heart attack?


    Maybe he read the new report that pilots are among the highest earning professions that work the least amount of hours. icon_rolleyes.gif
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    Sep 05, 2011 5:14 PM GMT
    Christian73 said...The problem is not that RJers cannot comprehend Riddler or your beliefs. The problem is that they have been done and have not worked. Ever. In any country at any time in history. In fact, in every country where they have been tried, poverty has soared, political instability rose and most of those countries are now far more socialist than even the much loathed Europe.

    It is clear to me that some do not understand the concepts Riddler is presenting. Your reading of Europe is wrong. The instability has many factors that vary from country to country, but the common theme is often lavish entitlements, union domination, and reduced productivity. Countries are trying to move away from this model.
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    Sep 05, 2011 5:20 PM GMT
    socalfitness said
    Christian73 said...The problem is not that RJers cannot comprehend Riddler or your beliefs. The problem is that they have been done and have not worked. Ever. In any country at any time in history. In fact, in every country where they have been tried, poverty has soared, political instability rose and most of those countries are now far more socialist than even the much loathed Europe.

    It is clear to me that some do not understand the concepts Riddler is presenting. Your reading of Europe is wrong. The instability has many factors that vary from country to country, but the common theme is often lavish entitlements, union domination, and reduced productivity. Countries are trying to move away from this model.


    I wasn't referring to European countries, but those in Latin and South America who suffered through forced experimentation with the kinds of austerity and deregulation that Riddler endorses with disastrous results for their citizens. The majority of them are now far more socialist than Europe or the US has ever been.

    Further, Riddler's concepts are not new or novel. They are retread of Ayn Randian philosophy, Miltonian economics, and the resulting vulture capitalism that has been responsible for the raping of entire countries' economies.
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    Sep 05, 2011 10:34 PM GMT
    southbeach1500 saidNow, once again, do any of you support Maxine's plan?
    Repeat: Only if it were to target you specifically.
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    Sep 06, 2011 1:12 AM GMT
    TropicalMark said
    southbeach1500 saidNow, once again, do any of you support Maxine's plan?
    Repeat: Only if it were to target you specifically.


    icon_lol.gif
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    Sep 06, 2011 1:22 AM GMT
    Christian73 said
    socalfitness said
    Christian73 said...The problem is not that RJers cannot comprehend Riddler or your beliefs. The problem is that they have been done and have not worked. Ever. In any country at any time in history. In fact, in every country where they have been tried, poverty has soared, political instability rose and most of those countries are now far more socialist than even the much loathed Europe.

    It is clear to me that some do not understand the concepts Riddler is presenting. Your reading of Europe is wrong. The instability has many factors that vary from country to country, but the common theme is often lavish entitlements, union domination, and reduced productivity. Countries are trying to move away from this model.


    I wasn't referring to European countries, but those in Latin and South America who suffered through forced experimentation with the kinds of austerity and deregulation that Riddler endorses with disastrous results for their citizens. The majority of them are now far more socialist than Europe or the US has ever been.

    Further, Riddler's concepts are not new or novel. They are retread of Ayn Randian philosophy, Miltonian economics, and the resulting vulture capitalism that has been responsible for the raping of entire countries' economies.


    Right... you seem to operate in a world where always imperfect and failed socialist implementations and government interventions should be blamed on markets or the rich. The problem of course is that no one who understands capitalism or markets thinks that cronyism is markets or capitalism. Only someone remarkably ignorant of history would equate oligarchy with capitalism or free markets as you do in your comparisons to South America.

    As for disastrous austerity and deregulation and the success of the Chilean economy for instance? Obviously you'd demagogue Milton in what he didn't actually do - but that's more because of your clear and deliberate misunderstanding of history. Retread? That'd be your old tired ideas that have been largely relegated to the dustbins of history - and rightfully so.
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    Sep 06, 2011 1:32 AM GMT
    riddler78 said
    Christian73 said
    socalfitness said
    Christian73 said...The problem is not that RJers cannot comprehend Riddler or your beliefs. The problem is that they have been done and have not worked. Ever. In any country at any time in history. In fact, in every country where they have been tried, poverty has soared, political instability rose and most of those countries are now far more socialist than even the much loathed Europe.

    It is clear to me that some do not understand the concepts Riddler is presenting. Your reading of Europe is wrong. The instability has many factors that vary from country to country, but the common theme is often lavish entitlements, union domination, and reduced productivity. Countries are trying to move away from this model.


    I wasn't referring to European countries, but those in Latin and South America who suffered through forced experimentation with the kinds of austerity and deregulation that Riddler endorses with disastrous results for their citizens. The majority of them are now far more socialist than Europe or the US has ever been.

    Further, Riddler's concepts are not new or novel. They are retread of Ayn Randian philosophy, Miltonian economics, and the resulting vulture capitalism that has been responsible for the raping of entire countries' economies.


    Right... you seem to operate in a world where always imperfect and failed socialist implementations and government interventions should be blamed on markets or the rich. The problem of course is that no one who understands capitalism or markets thinks that cronyism is markets or capitalism.

    As for disastrous austerity and deregulation and the success of the Chilean economy for instance? Obviously you'd demagogue Milton in what he didn't actually do - but that's more because of your clear and deliberate misunderstanding of history. Retread? That'd be your old tired ideas that have been largely relegated to the dustbins of history - and rightfully so.


    I operate in the actual world where the US has been engaged in the deregulation of markets for three decades with dire results. Wherever Friedman's acolytes have been in ascendance economic disaster, unrest and eventual socialism have reigned. In fact, you cannot point to single country that has engaged successfully in the kinds of policies you argue for, despite their rampant use in the Third World, Eastern Europe, and parts of Asia. In every case, huge swaths of the populace were plunged into poverty while a few connected to multinationals profited handsomely.

    But by all means. Try.
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    Sep 06, 2011 2:03 AM GMT
    I guess he is still working on the list. He went quiet.

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    Sep 06, 2011 2:14 AM GMT
    Christian73 said
    riddler78 said
    Christian73 said
    socalfitness said
    Christian73 said...The problem is not that RJers cannot comprehend Riddler or your beliefs. The problem is that they have been done and have not worked. Ever. In any country at any time in history. In fact, in every country where they have been tried, poverty has soared, political instability rose and most of those countries are now far more socialist than even the much loathed Europe.

    It is clear to me that some do not understand the concepts Riddler is presenting. Your reading of Europe is wrong. The instability has many factors that vary from country to country, but the common theme is often lavish entitlements, union domination, and reduced productivity. Countries are trying to move away from this model.


    I wasn't referring to European countries, but those in Latin and South America who suffered through forced experimentation with the kinds of austerity and deregulation that Riddler endorses with disastrous results for their citizens. The majority of them are now far more socialist than Europe or the US has ever been.

    Further, Riddler's concepts are not new or novel. They are retread of Ayn Randian philosophy, Miltonian economics, and the resulting vulture capitalism that has been responsible for the raping of entire countries' economies.


    Right... you seem to operate in a world where always imperfect and failed socialist implementations and government interventions should be blamed on markets or the rich. The problem of course is that no one who understands capitalism or markets thinks that cronyism is markets or capitalism.

    As for disastrous austerity and deregulation and the success of the Chilean economy for instance? Obviously you'd demagogue Milton in what he didn't actually do - but that's more because of your clear and deliberate misunderstanding of history. Retread? That'd be your old tired ideas that have been largely relegated to the dustbins of history - and rightfully so.


    I operate in the actual world where the US has been engaged in the deregulation of markets for three decades with dire results. Wherever Friedman's acolytes have been in ascendance economic disaster, unrest and eventual socialism have reigned. In fact, you cannot point to single country that has engaged successfully in the kinds of policies you argue for, despite their rampant use in the Third World, Eastern Europe, and parts of Asia. In every case, huge swaths of the populace were plunged into poverty while a few connected to multinationals profited handsomely.

    But by all means. Try.


    Actual world success? Nice attempt at historical revisionism - revise that - make that a ridiculous attempt at historical revisionism - do you even believe what you say? There are no countries that are purely capitalist or free markets - and quite far from it. But what we do know is that countries that do implement greater economic liberty in specific policies see greater economic growth for both the poor and rich. Telecom deregulation? Airline deregulation? Let's look at the countries that have implemented Friedman's views over the years of economic liberalization - which pretty much includes all G7 nations or let's look at the doing business index by the World Bank (practically the only initiative that I think is useful of theirs), or the Heritage/WSJ economic liberty index.

    Even financial deregulation has allowed for greater access - it's the warped market incentives created by governments that have allowed for the development and prolonging of bubbles that you so absurdly blame on markets and rapacious capitalists.

    Sadly, poverty is the historical condition of man. It's markets and the brave few who strive to make the world better and create wealth who have made it so. I somewhat understand your partisan views - working in an industry isolated from market pressures and dependent on those who are economically productive in society with little to no understanding of how the real world works. It's sad or rather a an indictment of your self proclaimed knowledge that you refuse to acknowledge that what's changed in allowing for the massive growth in wealth and betterment in the condition of man isn't the tired dead ideas you flog but greater markets, entrepreneurs and capitalists.