Monday, May 09, 2011

Our happy slave future

Keiser Report: Bin Laden Bounce (E144)

This week Max Keiser and co-host, Stacy Herbert, report on talking up Greek debt fears, the short-lived Bin Laden bounce and buying gold if your government is trying to kill you. In the second half of the show, Max talks to Dr. Kiriakos Tobras about his lawsuit against investment banks and derivatives dealers for their crimes against Greece.

our happy slave future, pt 1:, "You're Richer Than You May Realize" (also here)
by Andrea Coombes
Wednesday, May 4, 2011
Count your 'human capital' as an asset; watch your net worth skyrocket

You may be a lot wealthier than you think. Most people look at their 401(k) or other retirement plan, add in the value of other assets — their home, other investments, savings, etc. — then subtract their debt to get their net worth. After the housing-market bust and the bear-market rout of recent years, that number may look painfully small.

Human capital "is anything that's going to generate a cash flow that isn't your investments," says Moshe Milevsky, a professor of finance at York University in Toronto. "It's your ability to work, your ability to get a bonus, to get overtime. It's a gold mine and an oil well, but you're producing the gold and the oil," he says.

Doesn't that sound cheery? Don't forget to count your 'human capital' sounds like an argument made on behalf of the ownership class, telling us to keep working hard, and not complain about never being able to retire. Next I suppose I may need to sell a kidney to pay the light bill. Hey, it's an asset!

our happy slave future, pt 2:
Camp: Tax Plan Aims for 25% Cap

Republican Dave Camp, chairman of the House Ways and Means Committee:"America needs a tax code that promotes, not prevents, job creation," he said. "Today's code is simply too complex, too costly and too burdensome for families and employers of all sizes to comply with.…We need to set ambitious goals and work toward those, because if we don't try that will be the biggest failure of all."

Mr. Camp's tax overhaul isn't designed to specifically cut the U.S. budget deficit. Overall tax revenues would remain at recent average levels, or about 18% to 19% of gross domestic product, committee aides said..
Many Democrats also have voiced support for lowering tax rates, particularly for corporations. In his State of the Union address, President Barack Obama expressed support for lowering corporate tax rates while closing loopholes and other special breaks. The president also talked about the need to simplify the individual code. Mr. Obama's budget proposes raising taxes on high-income earners after 2012, however."

There are of course, many other examples.

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