Private equity is destroying our country, predators aggressively taking over flourishing businesses and turning them to dust. Sen. Elizabeth Warren has been trying to rein it in since she has been in the Senate, so kudos to her. I hope she keeps at it, even though her efforts are constantly frustrated.
This issue was raised when Mitt Romney ran for president. His Bain Capital had done exactly what you describe. And now he's a U.S. senator.
I think lobbyists should be banned from Congress and the Executive Branch. The wealthy and large corporations should be limited to the same access as we ordinary folk have: write a letter, call the office and speak to a staff member, attend a town hall.
Robert, every time you post, I learn something new. Such relevant, useful information. Outrageous only because it's happening right before our eyes. When will the greed end? Thank you again. You and Brian Berlectic are both breaking down the egregious practices of the US government.
Lobbying! This is one danger of money in politics! Congress members should not be trading stock during office. They will naturally want something that benefits themselves. We already know that they get away with insider trading. This also shows how important it is to get more progressives in office.
Lobbyists! Over 4,000 working for the rich, but how many do the people have? Well, that's the catch - our elected representatives and senators are supposed to be furthering our interests in congress, but they are captured to a more or less degree depending on the elected person. Senema, for example, panders and panders; first she runs for office to differentiate herself in her campaign, then she emulates the worst behaviors of those who came before. Manchin intones in a serious sounding voice that he is worried about the country but his behavior shows he is worried about his campaign finance. It is dawning on me now that ordinary people need lobbyists in Washington too! We must buy off the slime dogs in the same way as lobbyists for the rich are doing! It appears to me that we have government by the money, for the money and we need to play the "game" in Washington the way the game is played...
Our government is collapsing under the weight of corruption. Money flows up and our public servants are happy with the system as long as their own snouts are in the trough.
Well of course the loophole needs to be closed. But there are a couple of assumptions in your writing. The first, and most glaring, is that anyone gives a sh*t about the "most vulnerable Americans" or "investing in America’s future." Those vulnerable folks don't count and they are counting less and less as voting rights get chipped away.
If Dems could get their heads out of their collective butt then they might see that campaign finance reform would benefit everyone. Our government (and by extension our society) will remain paralyzed until big money is out of politics.
Until the US adopts the policy of the UK regarding funding for candidates - meaning everyone gets equal funding through the government and no private donations allowed - this is going to be the reality. John McCain proposed this and it was shot down. The final nail in the coffin was when the Supreme Court voted to give private citizenship status to corporations in regard to how much could be given to candidates to support their campaigns. As it is, it costs millions to run for public office, and once those campaigns are financed, the donors expect something in return.
“I had a dream” President Biden should start addressing republicans as the fascist party. Bring it out into the open. Joe give us something to get excited for and bring us together. Don’t miss this opportunity to unite the country. Time to prioritize and get serious. I promise to make a donation the first time you call them out. You can not negotiate with a criminal enterprise and fascism. Never worry about the consequences of doing the right thing. Trust The universe and God
The carried interest loophole must be closed. Moreover, the Warren Buffett Rule for minimum (fair) taxes must be passed for both individuals & corporations. ALL American citizens can better flourish when we reduce wealth & income inequality in our country.
Reading this this morning was enough to remind me that there is really absolutely nothing that the average person can do to get out from under the weight of greed and corruption among the wealthy and politically powerful. Time to tune out and turn off for awhile.
Aww come on…isn’t it becoming clear at this juncture? The reality is that the Dems are being bribed and kept well fed by the same mutant corporate forces that have Manchin and the rest of the turncoats in clover. Disguise it any which way you like but the fierceness with which this attack on our liberties should be fought seem to float past the Dems each and every time. It is so entirely debilitating to watch as this exercise in futility continues seemingly unabated…and for the record, Schumer is utterly useless. I’m fed up with the Dems…I think the real question here is: whose side are they on anyway?
Thanks for the info, Mr Reich. I was wondering what all this "corporate money" I've seen detractors banging on was all about. It just goes to show that neither party's hands are clean.
Private equity companies are taking over newspapers across the country and doing exactly what you describe-cutting staff, putting debt on the papers and then walking away with a pile of cash. Without newspapers people will go online and goodness only knows where they will get their news.
It is disgusting that Democrats are taking money from these vultures and then can't seem to find the courage to get rid of the carried interest loophole coming up with laughable reasons to continue the corporate welfare.
Even us surfs have to pay a tax for earnings in the lottery market. Why do we put up with the uber rich setups nit having to pay taxes on there lottery like earnings? Someone please explain.
Private equity is destroying our country, predators aggressively taking over flourishing businesses and turning them to dust. Sen. Elizabeth Warren has been trying to rein it in since she has been in the Senate, so kudos to her. I hope she keeps at it, even though her efforts are constantly frustrated.
This issue was raised when Mitt Romney ran for president. His Bain Capital had done exactly what you describe. And now he's a U.S. senator.
I think lobbyists should be banned from Congress and the Executive Branch. The wealthy and large corporations should be limited to the same access as we ordinary folk have: write a letter, call the office and speak to a staff member, attend a town hall.
Robert, every time you post, I learn something new. Such relevant, useful information. Outrageous only because it's happening right before our eyes. When will the greed end? Thank you again. You and Brian Berlectic are both breaking down the egregious practices of the US government.
Lobbying! This is one danger of money in politics! Congress members should not be trading stock during office. They will naturally want something that benefits themselves. We already know that they get away with insider trading. This also shows how important it is to get more progressives in office.
Lobbyists! Over 4,000 working for the rich, but how many do the people have? Well, that's the catch - our elected representatives and senators are supposed to be furthering our interests in congress, but they are captured to a more or less degree depending on the elected person. Senema, for example, panders and panders; first she runs for office to differentiate herself in her campaign, then she emulates the worst behaviors of those who came before. Manchin intones in a serious sounding voice that he is worried about the country but his behavior shows he is worried about his campaign finance. It is dawning on me now that ordinary people need lobbyists in Washington too! We must buy off the slime dogs in the same way as lobbyists for the rich are doing! It appears to me that we have government by the money, for the money and we need to play the "game" in Washington the way the game is played...
Our government is collapsing under the weight of corruption. Money flows up and our public servants are happy with the system as long as their own snouts are in the trough.
Well of course the loophole needs to be closed. But there are a couple of assumptions in your writing. The first, and most glaring, is that anyone gives a sh*t about the "most vulnerable Americans" or "investing in America’s future." Those vulnerable folks don't count and they are counting less and less as voting rights get chipped away.
If Dems could get their heads out of their collective butt then they might see that campaign finance reform would benefit everyone. Our government (and by extension our society) will remain paralyzed until big money is out of politics.
Until the US adopts the policy of the UK regarding funding for candidates - meaning everyone gets equal funding through the government and no private donations allowed - this is going to be the reality. John McCain proposed this and it was shot down. The final nail in the coffin was when the Supreme Court voted to give private citizenship status to corporations in regard to how much could be given to candidates to support their campaigns. As it is, it costs millions to run for public office, and once those campaigns are financed, the donors expect something in return.
“I had a dream” President Biden should start addressing republicans as the fascist party. Bring it out into the open. Joe give us something to get excited for and bring us together. Don’t miss this opportunity to unite the country. Time to prioritize and get serious. I promise to make a donation the first time you call them out. You can not negotiate with a criminal enterprise and fascism. Never worry about the consequences of doing the right thing. Trust The universe and God
The carried interest loophole must be closed. Moreover, the Warren Buffett Rule for minimum (fair) taxes must be passed for both individuals & corporations. ALL American citizens can better flourish when we reduce wealth & income inequality in our country.
Reading this this morning was enough to remind me that there is really absolutely nothing that the average person can do to get out from under the weight of greed and corruption among the wealthy and politically powerful. Time to tune out and turn off for awhile.
Aww come on…isn’t it becoming clear at this juncture? The reality is that the Dems are being bribed and kept well fed by the same mutant corporate forces that have Manchin and the rest of the turncoats in clover. Disguise it any which way you like but the fierceness with which this attack on our liberties should be fought seem to float past the Dems each and every time. It is so entirely debilitating to watch as this exercise in futility continues seemingly unabated…and for the record, Schumer is utterly useless. I’m fed up with the Dems…I think the real question here is: whose side are they on anyway?
Thanks for the info, Mr Reich. I was wondering what all this "corporate money" I've seen detractors banging on was all about. It just goes to show that neither party's hands are clean.
Happy Festivus to all!
Private equity companies are taking over newspapers across the country and doing exactly what you describe-cutting staff, putting debt on the papers and then walking away with a pile of cash. Without newspapers people will go online and goodness only knows where they will get their news.
It is disgusting that Democrats are taking money from these vultures and then can't seem to find the courage to get rid of the carried interest loophole coming up with laughable reasons to continue the corporate welfare.
Gee, I'm in Richie Neal's district. Maybe I should visit him a little. I'm sure he'll be happy to meet me and hear my views about this matter.
Even us surfs have to pay a tax for earnings in the lottery market. Why do we put up with the uber rich setups nit having to pay taxes on there lottery like earnings? Someone please explain.
Didn't know about this. Thanks for publicizing. Let's work on it.