Zone1 Tax the Rich! Make them Pay their Fair Share!

[JonKoch]

Link?

U.S. banks have crossed a significant post-financial crisis milestone, tallying more $200 billion in fines paid out regarding questionable behavior.

Misbehaving banks have now paid $204B in fines

Regulators have been out for blood against banks for conduct both before the crisis and since.

www.cnbc.com

 

[JonKoch]

And then, with no warning, they magically owned $1.8 trillion in subprime mortgages.

Yep, regardless of them buying the best quality, Dubya forcing them to buy $440 billion in MBS's and CDO's AFTER he ramped up their affordable housing goals from 50% to 56% AND taking off Clinton's rule they couldn't count the subprime loans in thos goals, was removed


Going from $1 trillion a year (2001) of loan originations to $4 trillion a year (2003) in the US MIGHT have something to do with it?

OR MAYBE DUBYA PUSHING THE BANKSTERS PONZI SCHEME, CUPCAKE?

 

[JonKoch]

You should completely ignore Clinton's 50% requirement.

DURR

Agreed, since his 2000 HUD change didn't allow the GSE's to count subprime in their 50% goal, you know that rule Dubya changed then ramped up the goal to 56% AND required them to purchase $440 BILLION more in MBS's and CDO's?

 

[JonKoch]

No Dubya FORCED F/F to buy $440 BILLION in MBS's in 2004 BUT​

The 2004 requirement was still 50%.

Nah, 2004 Dubya increased it to 56% AND removed Clinton rule that didn't allow subprimes with predatory to count


HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay (CLINTON). Freddie and Fannie adopted policies not to buy some high-cost loans.

https://archive.ph/ZhfIA#selection-503.0-503.262

 

[JonKoch]

True. I wish he was talking to me rather than you.

I wish you understand how PROOF works. I posit stuff, post CREDIBLE links proving it, you give links to youtube video's of right wingers in 2008 blaming F/F and Democrats, even though they had zero control in Congress 2001-Jan 2007


Proportion of subprime mortgages made from 2004 to 2006 that come with "exploding" adjustable interest rates: 89-93%


OCT 2008

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets

 

[Frankeneinstein]

WHAT BS.

TRANSLATION: "screw lowering the working-class taxes"

From 1945-1980 the richest 1% received 8%-10% of ALL US income, they TOOK 26% by 2024 AND PAID EFFECTIVE TAX RATES ABOUT 40% OF THE EFFECTIVE RATES THAT SHARE OF THE PIE PAID 1945-1980

non sequitur...aka so what?

The richest of the rich paid 60%-70% EFFECTIVE tax rates 1945-1980, today less than 20%, again on a much smaller share of the pie!!!!

based on your non sequitur, if anything that tells me we had it wrong from 45-80...why not just lower taxes on those you pretend to care about? you completely ignored that because it isn't about them, it is about ideology and confiscating the wealth of others

 

[Woodznutz]

If you mean Obamacares got 20+ million more people on health insurance for the private markets, instead of UHC that EVERY other industrialized nation has, true.

WHEN ARE YOU GOING TO SUPPORT UHC?

I support universal healthy living.

 

[Woodznutz]

LMAOROG. Right, NOT an aging population. Just poor health. Not type 1 diabetes like my son got at 15 and 120 pounds, he's had it for 25+ years, his couldn't get insurance prior to OBAMACARES

Many diseases are inflicting people at a younger age, mostly due to bad lifestyle habits.

 

[JonKoch]

screw lowering the working-class taxes so it matches the rich

non sequitur...aka so what?

based on your non sequitur, if anything that tells me we had it wrong from 45-80...why not just lower taxes on those you pretend to care about? you completely ignored that because it isn't about them, it is about ideology and confiscating the wealth of others

Right, must be because I'm jealous right? NOT that GOP policies the past 45 years gutted taxes on the richest, ramped up UNFUNDED spending under Ronnie, Dubya and Cheeto, AND removed obstacles like this

In 1982, the Securities and Exchange Commission (SEC) under President
Ronald Reagan passed Rule 10b-18, which established a "safe harbor" for corporations conducting stock buybacks. Before this, large-scale stock repurchases were often considered illegal stock manipulation.

Here are the key details regarding this change and its impact on corporate executives:

• What was Rule 10b-18? Implemented in 1982, this rule provided a legal framework and safe harbor for corporations to buy back their own stock on the open market without fear of being investigated for market manipulation.

• Impact on Executives: The rule allowed corporations to use company cash to purchase their own stock, which typically increases the value of remaining shares. This allowed executives, who often hold significant amounts of stock-based compensation, to increase their personal wealth.

• Purpose of the Change: The move was part of the broader Reagan-era deregulation of the financial services industry, intended to encourage a more open and free market, reducing constraints on corporations.

• Long-Term Criticism: Critics argue that this 1982 rule opened the door for "corporate greed," encouraging executives to spend money on boosting share prices—and their own pay—rather than investing in innovation, higher wages, or company expansion.

 

[JonKoch]

Many diseases are inflicting people at a younger age, mostly due to bad lifestyle habits.

LMAOROG. Yeah it's NOT food we eat today has been packed with garbage, it's simply bad lifestyle

 

[Woodznutz]

Blame? Sorry CREDIT is what I am showing, I can point to DIRECT POLICY DECISIONS BY THE GOP over the past 45 years that show those policies they enacted, generally opposed by the democratic party by wide margins, caused over 75% of the current US debt of $39 trillion

Expensive policies are usually a response to a societal problem.

 

[JonKoch]

I support universal healthy living.

Your libertarian BS has never worked ANYWHERE

 

[JonKoch]

Expensive policies are usually a response to a societal problem.

Or as in the past 45 years, bad governance by GOP Presidents and Congress

 

[Woodznutz]

Data shows it is generally harder for Americans to achieve upward mobility, particularly from the bottom rungs, compared to peers in Western Europe and Canada.



Key Factors on Upward Mobility

• Mobility Rates: Upward mobility is lower in the U.S. than in most developed countries.

• Class Limitations: Individuals born poor in the U.S. are more likely to stay poor than those born in Canada or European nations.
• 
  
• 
  
• Structural Challenges: High inequality and limited access to resources (education, healthcare) hinder advancement, leading to higher rates of downward mobility.

• International Comparisons: Studies indicate that the "American Dream" of moving up is statistically more attainable in countries like Canada and several in Western Europe.

The 'American Dream' of upward mobility is broken. Look at the numbers | Mark R Rank and Lawrence M Eppard

The US has far less mobility and equality of opportunity today than almost the entire European Union

www.theguardian.com

That's an apples to oranges comparison. If you compared the white populations only you would likely find that they are very similar.

 

[JonKoch]

Link?

Your shift end Cupcake or they just allow you to take a break? Me I have to go to MY work soon, so Cheeto can bomb Iran more

 

[JonKoch]

Those other countries aren't the mess that America is.

True ,they didn't have GOP Presidents, and actually have UHC

 

[PeanutGallery]

Every family is important and should not suffer but the big question is what do we want this country to look like. Do we want dynasties and nobility or a country where everyone has an equal opportunity to succeed or fail?

So, in other words, you can provide and save for your family ... but not too much. Because if you want people to have the opportunity to succeed, why would you turn around and "punish" their families because somebody did their assignment much better than other people?

 

[leftwinger]

Now read this part real slow. This is why Bush preempted all state laws against predatory lending

Bush cant make Law. That is for the Legislative branch.

Mortgages went bad as you say 01'-07' Congress put in laws much earlier to allow it. BJ signed off. Repeal Glass-Stegall much?

 

[Woodznutz]

True ,they didn't have GOP Presidents, and actually have UHC

Revisit that post. I changed it.

 

[leftwinger]

Quit cutting pasting walls of text from Lawrence O'Donnell socialist cookbook. No on can read all that. Various fonts and gaps you lying Skank.