Message to Main Street America: How about Renting if you cannot afford to by ? How about cooking instead of filling up your cart with frozen dinners at $8 each ? How about saving up 5% of a down payment for a house (as it is still a requirement in Canada.. Listed as Best banking System in the World yesterday ).. How about saving up enough money so you can pay the mortgage and other expenses for 12 months (as being thought by most Economy 101 classes).. Blame others.. Yes, that is EASY..
How about ending immigration and closing the borders? That would save us $1,000,000,000,000 per year. Ending Puerto Rican citizenship would save another $200,000,000 in lost freebies.
There is no meltdown.. For 8 years or so investors were making billinons.. House prices doubled or tripled (Hm, no one complained).. Now, the inevitable CORRECTION is happening.. No ., there is no meltdown.. And those ( like myself ) who invested in guarantied returns (earning 3-4% on average ) are sitting pretty cool.. Investment 101: Higher return.. Higher Risk.. Does anyone remember that golden rule ??
lol! i agree with you completely. people want to speculate w/o risk. unfortunately, the only ones bailed out are bankers. the one's who are most harmed are responsible (fixed rate) homeowners.
An economist at a local TV revealed that Zardari/Ruling Class of Pakistanis has above $150 billion abroad of which if they bring back only 25% economic instability can end & Pakistan can develop at a faster pace. He totally forgot that this money is thrown out of Pakistans National Economy. West loans it back on heavy terms to create financial hazards & political instability in Pakistan. West claims to have invested this fund here but a poor Pakistani doesnt even get a single penny out of it
All this fear of taxation means one thing: that Americans place their own self-interest as they perceive it over and above the common good and they will suffer for it.
Plutzky Plan is bullshit and I do not care if the idea came from Harvard. Just the idea of giving another Federal Agency our money means it will be squandered. Already Fanny and Freddy Mac screwed up taxpayers money and they want us to create another agency. I think stricter law enforcement would be better, a lot of executives belong in prison.
It's a great plan the taxpayer benefit because they become shareholders. After all it's your money that's being invested. The end result is that you get interest back on that money as well as a share in the bank.
that doesn't make any sense. Russia has power, but the only reason america isn't at war with them is because they just can't afford it (man power in Iraq, economy low due to $10 trillion in loans), but they have the military might. I would be watchful of China, because they are going to take the position of superpower from the US. and that's a promise
The solution to the current crises is the "Plutzky Plan". Two MBA's from Harvard solve the problem by opening National Federal Banks with the 700 billion and giving out new loans and the taxpayers get an equal share in the bank. The taxpayers can then sell or trade their shares. Loans and lines of credit are given on sound regulatory monetary policy with interest. Watch the video on You Tube search "Plutsky plan" by khanacademy.
Please do. khanacademy also has the whole bailout situation on video explaining the whole process. The guy is a genius. He also has two degrees from MIT. Electrical engineering as well as computer science.
Lol, you may have a point there! There has to be a solution to the economy; perhaps homes and things should have a base price to prevent the artificial inflationary pricing.
BS. No to socialism. Redistribution of wealth means rewarding poverty and those who do nothing, and penalizing productivity. Real wealth is never taxed. This guy is a professor of stupidity and poverty.
The man is talking about "wealth tax"--wealth, in this day and age has *nothing* to do with "productivity". 90% of money created in the past 20 years has been money on money--nothing to do with goods and services at all.
It's actually wealth usurpation [taking money out of the production/supply/land etc] rather than the general free flow of capital.
I highly doubt that any CEO ever works the 60-80 hours that many working class people are now forced to do, just to pay food and rent.
It's the precedent that's important. If gov can tax the rich, they can tax the poor, middle class, working, retired, etc. Since the passage of the 16th Amend., congress has fiddled with the tax code, to the detriment of the middle class. The whole notion that the gov will tax the rich and distribute to the poor has proven to be an utter failure. Why has congress never defined income to mean only interest made off of investments? Don't you think that would target those that you've mentioned?
I'm simply against taxing wages. If you look at the constitution, the fed has several methods of raising revenue to run the fed gov. Since the passage of the 16th Amend, congress has also passed the social security act. We have a number that is required by the IRS. The Supreme Court has allowed businesses access to our SS#. State require a SS#. I object to any gov activity that exposes my personal life in any way to gov inspection. If I'm not a criminal, why treat me as one?
That is the problem with the taxation. Allowing the gov to discriminate as to who is taxed, and who gets the tax revenue is dangerous to a republic. Redistribution of wealth is a fantasy whereby the illusion of prosperity is achieved through taxation and redistribution. In the end only the wealthy are spared and everyone else is brought down to the same level. That's what they consider economic equality. The gov can't make people equally rich, but they sure can make us all equally poor.
The problem with increasing the wealth tax is that the money, which is in the hands of the few rich, passes into the hands of the government; hence the power is still quite centralised, while the population is drained of all money.
The solution is not to rip off people with the high cost of living in the first place. How come the politicians dont mention this?
No, what I am saying is that the essentials of life such as food, housing, energy, health care and education must not be stock market commodities and therefore free from speculation and the traders games of greed. The essentials of life should be strictly regulated otherwise the government and people have no control over their own country, which is what we could see in recent value manipulations of food, energy and housing.
Why the fuck should I should pay when my govrnment more when they waste all I give them? How bout we not give georgia and ukraine billions, or wallstreet billions etc et.
Until we adopt a system based on Love and caring for our fellow Humans of all Hues and abandon our baser instincts to fight without emotion and fuck without emotion we are doomed to live in Hell on Earth. If you never marched to object to your Governments inhuman war policies where your money was spent on death and destruction but you wanna march on Washington because the banks are stealing it for themselves, you are part of the selfish fucked-up system.
The Capitalist System is corrupt and involves EVERYONE: Our school systems have brought us up to compete, to be selfish, to be emotionless about the less fortunate. The whole kaboodle, from philosophy to finance HAS TO CRASH AND BURN. It is based on the pseudo science of 'survival of the fitest' instead of 'Love your brother'
We are HUMANS with the capacity and NEED to Love and be Loved. Most of us are NOT FUCKING REPTILES, because we have the capacity to emote.
These a-holes create money for the treasury and charge the US Interest for this service, Interest earn goes to these banks, Not to the peoples government there is NO return in services to the citizens in our nation Money is created with debt / borrowed at interest lend to us in exchange for our labor and services and returned to the bank with interest. Here is how Paying taxes on every purchase on this money theyve created out of nothing.
Start with reduction of corruption in Washington. The government wouldn't be spending billions of dollars for the Iraq War that tax-payers will be punished for.
Lol! Great point about people willing to pay high cable bills, phone, etc...I used to work in a Starbucks. We had regulars that spent 300 plus a month on coffee drinks. Yet when it comes to taxes people freak out when taxes go up even a penny.
Taxes are not bad, what is important IS WHAT YOUR MONEY IS SPENT ON! if the money goes to education, helthcare and law enforcement it is good. But if you the state spends all our money on wars and bailouts it is bad.
Taxes are bad! When you buy coffee (look above in comment) you pay a sales tax. Any tax after that is double jeopardy. It is unjust, I believe we fought a war over the issue of taxes, didn't we? Our income tax is now much higher than the taxes that started the revolutionary war with UK. THEN we can get on about the business of spending the sales tax for infrastructure and defense, not preemptive strikes.
BRAVO to that statement. If one sees taxes as a necessary commitment to the betterment of the society because the democracy is *responsive* then taxes are not "bad".
When elected leaders act like they are feudal lords dispensing pittances and waging invasions for their friend's profit, then damn skippy--the citizens are left out of the process of spending THEIR OWN pooled money resources.
No, he's NOT crazy! Are you not paying attention, dabigez357? Didn't you understand what Leo Panitch is explaining here, that it's IRRATIONAL not to pay taxes? If your state and local govts have no taxes, they go bankrupt and can't do anything needed for the sheeple, so society COLLAPSES. THIS is how the Great Depression started with municipalities going broke. He said the sheeple complain about paying $100 more in taxes and don't bat an eye paying an increase in their cable or electric bill.
THere is a tax on the electric bill, look at your bill, already! why pay again? that is insane. Sales tax would be more than enough for infrastructure if the government spent it on the u.s., not paying interest to illegal baking institutions like the fed reserve.
I agree! How the money is spent is important but, taxing people wages after we already pay sales tax, etc... is double jeopardy. The Federal Reserve and all centralized banks should be abolished. The treasury did fine until the fed came along, we had 10 % growth each and every year until then.
Thx for the vid
SpeakersChanneltv 3 years ago
have you noticed that this channel is being partially censored? the speed has been lowered and the counter have being literally stopped.
matthiasfsa 3 years ago
Trust - Productivity - Saving - Planning.
On the CITIZEN's level.
No "clever maneuver" can replace these
essentials.
Sefardi123 3 years ago
Message to Main Street America: How about Renting if you cannot afford to by ? How about cooking instead of filling up your cart with frozen dinners at $8 each ? How about saving up 5% of a down payment for a house (as it is still a requirement in Canada.. Listed as Best banking System in the World yesterday ).. How about saving up enough money so you can pay the mortgage and other expenses for 12 months (as being thought by most Economy 101 classes).. Blame others.. Yes, that is EASY..
UR123GoFly 3 years ago
How about ending immigration and closing the borders? That would save us $1,000,000,000,000 per year. Ending Puerto Rican citizenship would save another $200,000,000 in lost freebies.
lumpagogo 2 years ago
There is no meltdown.. For 8 years or so investors were making billinons.. House prices doubled or tripled (Hm, no one complained).. Now, the inevitable CORRECTION is happening.. No ., there is no meltdown.. And those ( like myself ) who invested in guarantied returns (earning 3-4% on average ) are sitting pretty cool.. Investment 101: Higher return.. Higher Risk.. Does anyone remember that golden rule ??
UR123GoFly 3 years ago
lol! i agree with you completely. people want to speculate w/o risk. unfortunately, the only ones bailed out are bankers. the one's who are most harmed are responsible (fixed rate) homeowners.
otherworldz 3 years ago
This has been flagged as spam show
An economist at a local TV revealed that Zardari/Ruling Class of Pakistanis has above $150 billion abroad of which if they bring back only 25% economic instability can end & Pakistan can develop at a faster pace. He totally forgot that this money is thrown out of Pakistans National Economy. West loans it back on heavy terms to create financial hazards & political instability in Pakistan. West claims to have invested this fund here but a poor Pakistani doesnt even get a single penny out of it
yahoovisitor 3 years ago
It's "Sanders", prof.
Jessiqua42 3 years ago
All this fear of taxation means one thing: that Americans place their own self-interest as they perceive it over and above the common good and they will suffer for it.
blackiron60 3 years ago
This guy Leo Panitch is an idiot, please take him off the air.
Investors can buy GOLD instead of bonds, you stupid idiotic moronic loggerhead.
There should be no income tax at all. Zero. Zilch. Nada. But this idiots brain is far too small to comprehend such a system.
XulChris 3 years ago 3
right on !
bebop54 3 years ago
XulChis:
If you hadn't noticed--it's now illegal in the USA to earn over a certain amount of gold [is it an ounce? I can't remember]
Check that out. It's true.
The big value now, is *oil*
TVParkdale 3 years ago
ha!
NAes12 3 years ago
Plutzky Plan is bullshit and I do not care if the idea came from Harvard. Just the idea of giving another Federal Agency our money means it will be squandered. Already Fanny and Freddy Mac screwed up taxpayers money and they want us to create another agency. I think stricter law enforcement would be better, a lot of executives belong in prison.
Cossack007 3 years ago 3
It's a great plan the taxpayer benefit because they become shareholders. After all it's your money that's being invested. The end result is that you get interest back on that money as well as a share in the bank.
pongman 3 years ago
that doesn't make any sense. Russia has power, but the only reason america isn't at war with them is because they just can't afford it (man power in Iraq, economy low due to $10 trillion in loans), but they have the military might. I would be watchful of China, because they are going to take the position of superpower from the US. and that's a promise
danthemango 3 years ago
danthemango:
China *is* leading right now.
TVParkdale 3 years ago
huh, they promised me 40 years. crap
danthemango 3 years ago
The solution to the current crises is the "Plutzky Plan". Two MBA's from Harvard solve the problem by opening National Federal Banks with the 700 billion and giving out new loans and the taxpayers get an equal share in the bank. The taxpayers can then sell or trade their shares. Loans and lines of credit are given on sound regulatory monetary policy with interest. Watch the video on You Tube search "Plutsky plan" by khanacademy.
pongman 3 years ago
*"Plutsky Plan".
pongman 3 years ago
pongman
I'm going to look that up. I like to learn new things:)
TVParkdale 3 years ago
Please do. khanacademy also has the whole bailout situation on video explaining the whole process. The guy is a genius. He also has two degrees from MIT. Electrical engineering as well as computer science.
pongman 3 years ago
There is no financial solution to the problem, because the problem is caused by the over-financialization of the world.
abilityoflove 3 years ago
Lol, you may have a point there! There has to be a solution to the economy; perhaps homes and things should have a base price to prevent the artificial inflationary pricing.
pongman 3 years ago
Yes, it is amazing how the politicians have sold out their own country and people to the ideology of money.
abilityoflove 3 years ago
Simply the home value should be the building cost plus 20% (i.e. an agreed amount) and NO more!
abilityoflove 3 years ago
That seems fair to me.
pongman 3 years ago
BS. No to socialism. Redistribution of wealth means rewarding poverty and those who do nothing, and penalizing productivity. Real wealth is never taxed. This guy is a professor of stupidity and poverty.
bbburton 3 years ago
doing nothing is forgetting the workers. Don't let socialism get a free ride, but doing nothing is just letting pure communism thrive.
danthemango 3 years ago
bbburton:
The man is talking about "wealth tax"--wealth, in this day and age has *nothing* to do with "productivity". 90% of money created in the past 20 years has been money on money--nothing to do with goods and services at all.
It's actually wealth usurpation [taking money out of the production/supply/land etc] rather than the general free flow of capital.
I highly doubt that any CEO ever works the 60-80 hours that many working class people are now forced to do, just to pay food and rent.
TVParkdale 3 years ago
It's the precedent that's important. If gov can tax the rich, they can tax the poor, middle class, working, retired, etc. Since the passage of the 16th Amend., congress has fiddled with the tax code, to the detriment of the middle class. The whole notion that the gov will tax the rich and distribute to the poor has proven to be an utter failure. Why has congress never defined income to mean only interest made off of investments? Don't you think that would target those that you've mentioned?
bbburton 3 years ago
bbburton:
That's the whole struggle right there.
Presently we have a party running that wants to give tax *breaks* to those over $250,000 per year when the average income is close to $30,000.
Another is wanting to tax those over $50,000.
Frankly, it would make MORE sense if they just upped the tax on over $250,000 and lessened it on those $50,000 and under.
They'd get more money and there would be less hardship. They'd get more votes too.
TVParkdale 3 years ago
I'm simply against taxing wages. If you look at the constitution, the fed has several methods of raising revenue to run the fed gov. Since the passage of the 16th Amend, congress has also passed the social security act. We have a number that is required by the IRS. The Supreme Court has allowed businesses access to our SS#. State require a SS#. I object to any gov activity that exposes my personal life in any way to gov inspection. If I'm not a criminal, why treat me as one?
bbburton 3 years ago
bbburton:
That's one way of looking at it. Heinlein [great writer] believed the same thing.
Realistically however, I can't see a way of keeping track of tax money, in this technological age, without some sort of mathematical system.
TVParkdale 3 years ago
Taxing the poor and giving to the rich isn't a good idea either.
danthemango 3 years ago 2
That is the problem with the taxation. Allowing the gov to discriminate as to who is taxed, and who gets the tax revenue is dangerous to a republic. Redistribution of wealth is a fantasy whereby the illusion of prosperity is achieved through taxation and redistribution. In the end only the wealthy are spared and everyone else is brought down to the same level. That's what they consider economic equality. The gov can't make people equally rich, but they sure can make us all equally poor.
bbburton 3 years ago
NO TAXATION WITH OUT REPRESENTATION. PROTEST BY NOT PAYING YOUR TAXES. Spirit of '76. (And get rid of the MICC)
madebutante 3 years ago
The problem with increasing the wealth tax is that the money, which is in the hands of the few rich, passes into the hands of the government; hence the power is still quite centralised, while the population is drained of all money.
The solution is not to rip off people with the high cost of living in the first place. How come the politicians dont mention this?
abilityoflove 3 years ago
abilityoflove:
I think you're talking about inflation?
Inflation is generally caused by a deliberate manipulation of the supply of cash.
They don't mention it because it IS preventable by changing the deficit banking system. And they are personally benefiting from the present system.
TVParkdale 3 years ago
No, what I am saying is that the essentials of life such as food, housing, energy, health care and education must not be stock market commodities and therefore free from speculation and the traders games of greed. The essentials of life should be strictly regulated otherwise the government and people have no control over their own country, which is what we could see in recent value manipulations of food, energy and housing.
abilityoflove 3 years ago
ability of love:
Agreed. The necessities of life can't be left to laissez-faire economics. It's the road to feudalism.
TVParkdale 3 years ago
Good stuff. Please put Peter Schiff on.
InTheSticks1881 3 years ago
You have to have a job to pay taxes. Can't wait until we get rid of the IRS and any tax on our labor.
GordonWalton 3 years ago 2
Why the fuck should I should pay when my govrnment more when they waste all I give them? How bout we not give georgia and ukraine billions, or wallstreet billions etc et.
StephinRazin 3 years ago
Until we adopt a system based on Love and caring for our fellow Humans of all Hues and abandon our baser instincts to fight without emotion and fuck without emotion we are doomed to live in Hell on Earth. If you never marched to object to your Governments inhuman war policies where your money was spent on death and destruction but you wanna march on Washington because the banks are stealing it for themselves, you are part of the selfish fucked-up system.
mushroomagicman 3 years ago
how do we replace money?
danthemango 3 years ago
The Capitalist System is corrupt and involves EVERYONE: Our school systems have brought us up to compete, to be selfish, to be emotionless about the less fortunate. The whole kaboodle, from philosophy to finance HAS TO CRASH AND BURN. It is based on the pseudo science of 'survival of the fitest' instead of 'Love your brother'
We are HUMANS with the capacity and NEED to Love and be Loved. Most of us are NOT FUCKING REPTILES, because we have the capacity to emote.
mushroomagicman 3 years ago
These a-holes create money for the treasury and charge the US Interest for this service, Interest earn goes to these banks, Not to the peoples government there is NO return in services to the citizens in our nation Money is created with debt / borrowed at interest lend to us in exchange for our labor and services and returned to the bank with interest. Here is how Paying taxes on every purchase on this money theyve created out of nothing.
1indianscout 3 years ago 2
The system is broken
We cant support a system based on debt, the only people that benefit here are the FEDERAL RESERVE / PRIVATE BANKS
1indianscout 3 years ago 3
Start with reduction of corruption in Washington. The government wouldn't be spending billions of dollars for the Iraq War that tax-payers will be punished for.
jesuschrustpizza 3 years ago
Lol! Great point about people willing to pay high cable bills, phone, etc...I used to work in a Starbucks. We had regulars that spent 300 plus a month on coffee drinks. Yet when it comes to taxes people freak out when taxes go up even a penny.
chopin65 3 years ago
That is because taxes are unjust.The coffee drinkers paid tax on the coffee, any other tax is double jeopardy.
jrc3ky 3 years ago
Thank you so much for posting these interview segments. Very much appreciated!
JixMa 3 years ago
Taxes are not bad, what is important IS WHAT YOUR MONEY IS SPENT ON! if the money goes to education, helthcare and law enforcement it is good. But if you the state spends all our money on wars and bailouts it is bad.
quagles 3 years ago 3
Taxes are bad! When you buy coffee (look above in comment) you pay a sales tax. Any tax after that is double jeopardy. It is unjust, I believe we fought a war over the issue of taxes, didn't we? Our income tax is now much higher than the taxes that started the revolutionary war with UK. THEN we can get on about the business of spending the sales tax for infrastructure and defense, not preemptive strikes.
jrc3ky 3 years ago
quagles:
BRAVO to that statement. If one sees taxes as a necessary commitment to the betterment of the society because the democracy is *responsive* then taxes are not "bad".
When elected leaders act like they are feudal lords dispensing pittances and waging invasions for their friend's profit, then damn skippy--the citizens are left out of the process of spending THEIR OWN pooled money resources.
TVParkdale 3 years ago
this guy is saying more taxes is OK..? is he crazy..? no, more taxes is the wrong thinking! change how the money is spent! it's very simple people!!
dabigez357 3 years ago
No, he's NOT crazy! Are you not paying attention, dabigez357? Didn't you understand what Leo Panitch is explaining here, that it's IRRATIONAL not to pay taxes? If your state and local govts have no taxes, they go bankrupt and can't do anything needed for the sheeple, so society COLLAPSES. THIS is how the Great Depression started with municipalities going broke. He said the sheeple complain about paying $100 more in taxes and don't bat an eye paying an increase in their cable or electric bill.
JixMa 3 years ago 2
THere is a tax on the electric bill, look at your bill, already! why pay again? that is insane. Sales tax would be more than enough for infrastructure if the government spent it on the u.s., not paying interest to illegal baking institutions like the fed reserve.
jrc3ky 3 years ago
I agree! How the money is spent is important but, taxing people wages after we already pay sales tax, etc... is double jeopardy. The Federal Reserve and all centralized banks should be abolished. The treasury did fine until the fed came along, we had 10 % growth each and every year until then.
jrc3ky 3 years ago
This has been flagged as spam show
come on! really?
dmeckle 3 years ago