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It's too high.
A little somethin' for the lawyers during an election year. Nothing new here.
Losers in life's lottery? Or just losers? You be the judge.
Don't know if I would get rid of it completely, but there are some over-the-top provisions that place the government where the stake-holder should be. Trust me, as an investor, I can read the 10K to determine if the CEO should be retained or not.
I certainly don't need John McCain or Barney Frank to give me lessons on corporate profits or loss. They have lived in fantasy land with what seems like Monopoly money (our tax dollars) for so long they wouldn't recognize the difference between a balance sheet and an income statement.
I say keep the government from colluding with both big labor and big business. Maybe I should run for office. Wait, where would I get my campaign donations? Whoops!
I am not opposed to unions in general, epecially rank and file union member. I am opposed to the collusion betweem most major unions' leadership and the democrat party. It has practically become a money laundering operation for the DNC. Now, before I hear the howling about big business and republicans, I will let you in on a dirty little secret. Wall Street and big business donate as much if not more to democrats than they do republicans. Why? Because democrats are the wizards of the sweetheart deal (e.g. Solyndra, G.M., et al) at the expense of the taxpayer. Republicans, for all their faults, typically are looking to cut spending in non-defense areas. This is not conducive to sweetheart deals, except with the military-industrial complex.
I would feel a lot better about unions if they were subjected to the same type of scrutiny that executives are via Sarbanes-Oxley.
I would be more inclined to take the first two posts seriously if they forwarded a solution to the budget shortfall. But I think they know they can't. Taxing citizens and businesses more will actually reduce revenue because it will hinder economic growth. Companies are sitting on piles of cash because they know the feds are punishing growth of the bottom line. They are uncertain about the future, but hear the feds saying that greedy businesses are the problem and not the solution. I am not a business owner, but if I was, I would never expand my business in this kind of environment. There is no reward for the risk. Only punishment. So state government is coming up short because the feds are strangling the life out of businesses that pay employees who in turn pay taxes. Raising state taxes will only exacerbate the problem.
If the feds would ease up on taxation and regulation, I think then the state would have some leeway on our tax policy. But now we are damned if we do and damned if we don't.
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