I didn't ask, barfo did. I know why. BTW, http://online.wsj.com/article/SB10001424052702304173704575577923494557684.html Lazard Profit Surges 71% NEW YORK—Lazard Ltd.'s profit rose 71% in the third quarter, as strong gains in fees from merger and strategic advisory assignments and in asset management overcame a sharp drop-off in revenue from restructuring activities. The advisory boutique, known for shepherding clients like Qwest Communications International Inc., Honeywell International Inc. and Continental Airlines through mergers and other strategic changes, benefited from a reawakening of merger and acquisition activity.
Re: Think your taxes are too high! Wow. You want to take existing capital that corporations and the wealthy already have? That is extreme, even for you, Barfo.
Re: Think your taxes are too high! No, you misunderstood. I'm not proposing anything. I'm just saying, if there were new taxes, it wouldn't hinder growth as Denny suggested, because the problem is not lack of capital. The problem is lack of demand. Letting those who have capital continue to sit on it is not going to increase demand. But I'm not sure what you think is so "extreme" about taxes. That's what taxes are, taking "existing capital that corporations and the wealthy already have". Or did you think I was proposing to tax a percentage of liquid assets? I wasn't. barfo
Re: Think your taxes are too high! There's no such thing as excess capital. Just think of how much sooner GM would have gone under if they weren't putting away money when the times were good.
Re: Think your taxes are too high! Sure, from the point of view of any given company, there is no such thing as too much money. [Actually, there is, but that's a different discussion]. But from the point of view of the economy, there is indeed a level of excess capital that begins to hurt the economy, and we are definitely right there. It's better for me to save my money in uncertain times, but it is better for the economy if I spend, spend, spend. barfo
Re: Think your taxes are too high! All those shovel ready jobs (WRECKLESS spending) should have given people money to buy essentials, like food and clothing and other things that would help the economy.
Re: Think your taxes are too high! Would you have supported it had they passed that instead? Really? barfo
Re: Think your taxes are too high! The wreckless spending? No, I never supported it, and it's prove to have been a complete FAIL.
Re: Think your taxes are too high! Oh, I misread your last post - thought you were saying they should have given the money to people to buy essentials. Didn't sound like you, and I should have re-read it. barfo
Re: Think your taxes are too high! They did give the money to people to buy essentials, no? Where did it go? The first question was rhetorical.
Re: Think your taxes are too high! I didn't misunderstand. You posted something incredibly stupid. You said the government should be able to take the assets that a company or individual is sitting on or saving. That is a LOT different than how our current taxes work, which is a tax on transactions / income... ie: when money changes hands. Your suggestion was that we should just give the government the power to retroactively take what they like from somebody's savings. Nice.
Re: Think your taxes are too high! You are wrong; you did misunderstand. I'm pretty sure I know better than you what I meant. barfo
Re: Think your taxes are too high! Then it would be good if your posts reflected a higher level of communication skills.
Re: Think your taxes are too high! I will try to live up to your post's expectations in the future. barfo
