Banks Go Hog Wild On Wall Street

$14,000 Billion Surplus
What a different attitude in America.
14,000 Billion Surplus missed

NOTE—Numbers are rounded and are not exact. Simplistic. Purpose here is for an Overview.
Will be exact in my forthcoming book.

No Reagan or Bush Tax Cuts for the very Rich. 
Today we would have a $14,000B SURPLUS

NO DEBT. 

$14,000 Billion SURPLUS

24 X $750B=$18,000B Revenue missed (1985-2009)
5 X $1700B=$8,500B Revenue missed (2004-2009)
Total $26,500 Billion of Revenue missed

Debt is close to $12,000B
$26,500B of Revenue and we would have no Debt but a $14,000B Surplus

Now you know what occurred? 

HERE IS THE BEEF

In 1980 the top 1% owned 20% of Total Financial Wealth
In 1989 it was 36%.
An 80% Increase via good old Ronnie enrich the rich policies and shaft middle class.
Even his David Stockman said his Tax Cut was Trojan Horse to enrich the rich.

Bush took over and now 20% own 93% of Total Financial non-home Wealth.
Top 2.7% got four times as much of Bush Tax Cuts as bottom 80%.

Those are, primarily, Wall Streeter who own our major corporations.
During Bush 8 sent 2,300,000 jobs to CHINA.
While getting huge bonuses on profits from Gambling..
While closing hundreds of plants in America.
While eliminating millions of jobs.
While buying our government.

The new—Wall Street of America—formerly USA

All Aboard! Next Boat to China in 2010 carries all jobs from Hanesbrands
Winston-Salem NC jobless thank you Wall Street.

p.s. Actually the Surplus would be much more.
The ultra rich got most of Income Increase since 1980.
A Tax Increase would have gotten us more of it

You are sharing such good enough information! I guess, this should be compared with good sounding nextel ringtones in the mobile ringtones providers.

Before you go and blame the banks, consider this:
Who set up the FED?

Who took hard currency out of circulation?

Who has bailed out others in the past for making bad loans?

If you made a bad loan, would you care who paid it off?

How much did financial institutions contribute to Dems/Repubs?  How much will they continue to contribute in the future?

Taxes?  Flat across the board, with no exemptions.  My assumption is that you want fairness.  The progressive system does not work because you have 535 people in Washington who control it, and they will cater to their SugarDaddys.  Does the bank bailout sound familiar?  The rich will not pay the increase in tax!  They will funnel it to the middle class who punches a time clock that the rich own, or they will sell the time clock, put their money in the bank and live off the interest until happier times prevail.

Rich people create jobs!  Because they keep score against other rich people, they must keep working, or elect people and put them in power to help protect the wealth that they have already created, thus allowing them to retire and stay on top.

Taxes are always passed to the end user. . the purchaser of the product or service, not the provider.

The bumbs in Washington must get thrown out! Why do you think they are running for cover now?  You must elect people with character, not people who have excuses for every association they have had for the last twenty + years.

Experience in politics means you have a large network of cronies.  This is what we elect year after year, Dem or Repub.  Its time for a real change.

Corporate exec’s are fleecing the employees and shareholders of their own companies.  The redistribution of wealth from the shareholders to the corp exec’s bonuses and outrageous compensation…..all the time outsourcing jobs to India…Headlines…India Tata to add 30,000 jobs in 2010 and 2011. We need some reporting on the publicly traded companies who have outrageous corp exec compensation, number of U.S. employees layed off in 2008 & 2009, and number of jobs outsouced to India.  These are 4 year degreed employees in the U.S. being replaced, all while Obama is encouraging people to get a 2 year degree???? Wake up Americans, and let the shareholders determine if a CEO keeps his/her job.

An AOL-Financial columnist noted this week (15 Feb 2010) that certain ‘septuagenarian’ Wall Street moguls (e.g., George Soros) want to restore the June 1933 Glass-Steagall Act that Congress stupidly repealed in 1999. That malfeasance engendered the ‘Too Big to Fail’ falacy and merged commercial (depositors money) with investment (casino game) banking. Then banks began ‘derivatives’ trading futures/options contracts like casino chips.
  Why don’t Barney Frank and Christopher Dodd chide the Bank of America and J.P.Morgan Chase to pay say 3.5% on Money Market Savings accounts instead of the present 0.01%. Per the Chase teller, the paltry 0.25% Federal Reserve rediscount rate is the reason the bank can cheat the savings account depositor (and deliver Million Dollar bonuses to bank executives.) Ben Bernanke and the elitist Fed-Reserve Board of Governors are at fault.
The 2000 Commodity Futures Modernization Act engendered the AIG ‘credit default swap’ gaming scheme. Another financial bomb created by the U.S. Congress.
Next culprits, Freddie Mac and Fannie May, where all those ‘toxic’ Mortgage-backed Securities were bought with U.S. Treasury dollars.
The last decent prosecutor of Wall Street malfeasance was Elliot Spitzer versus Merrill-Lynch, but he took a Tiger Woods tumble. The fallen Lehman Brothers trading casino is now Barclays of the U.K.
Please take the ‘Bank’ qualifier off of Goldman-Sachs! They have no bank tellers or Deposit Savings accounts. Their Securities Trading casino game should Not have FDIC coverage.
The Houston Chronicle recorded the 5% Pay Raises Congress awarded itself and the Judicial and Executive branches in 2007 and 2008 while the American Economy was tanking our 401K Plan Investments. Those Billionaire Hedge-Fund Traders were plunging Stock Values with huge volume panic selling. The CNBC daily Wall Street report by Larry Kudlow, Erin Burnett, and Mark Haines shows the Wall Street Casino results masquerading as Investment Trading.
And one more rant. Fire those incompetent ‘regulators’ in the Securities Exchange Commission which is nothing more than an expensive Large Law Firm. Mr Marcopolos warned those boobs about Bernard Madoff for about eight years about six times.
I’m in the Rush Limbaugh camp with a sprinkling of Glen Beck satire and Tea-Party Sara Palin independence.

Wall Street is a street in Lower Manhattan, New York City, New York, United States. It runs east from Broadway to South Street on the East River, through the historical center of the Financial District. It is the first permanent home of the New York Stock Exchange; over time Wall Street became the name of the surrounding geographic neighborhood. Wall Street is also shorthand for the nfluential financial interests of the American financial industry, which is centered in the New York City area. Several major U.S. stock and other exchanges remain headquartered on Wall Street and in the Financial District, including the NYSE, NASDAQ, AMEX, NYMEX, and NYBOT.
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