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View Diary: 'Hostess Brands is a microcosm of what’s wrong with America' (121 comments)

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  •  How many more workers will be Bained (12+ / 0-)

    while the lapdog media pretends it's the union's fault?

    A definition is the enclosing of a wilderness of ideas within a wall of words -- Samuel Butler

    by A Mad Mad World on Fri Nov 16, 2012 at 12:17:20 PM PST

    [ Parent ]

    •  What about the public employee pensions funds.... (3+ / 0-)

      ..which have invested in Silver Point and Monarch?  Do they share in the blame as well?

      And if we want to discuss wage erosion in general, can we blame the UAW as well, which agreed to a 50% wage cut for new hires at GM and Chrysler?

      One possible solution to this mess:

      A federal wage supplement financed exclusively via a tax on wealth, starting at 1% for net worth of at least 50M, going to 8% for the likes of Buffet and Ellison.

      Warren Buffet would contribute 8% of his net worth to the federal government each year to ensure a living wage for the likes of Hostess Brands union workers.

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. www.hamiltonproject.org

      by PatriciaVa on Fri Nov 16, 2012 at 12:50:19 PM PST

      [ Parent ]

      •  Is that you Mitt ? (2+ / 0-)
        Recommended by:
        Eyesbright, Larsstephens

        The free market is not the solution, the free market is the problem.

        by Azazello on Fri Nov 16, 2012 at 12:57:05 PM PST

        [ Parent ]

        •  What part of my comment do you dispute? (1+ / 0-)
          Recommended by:
          Larsstephens

          (i) That public employee pensions funds have increased their allocation to private equity, whether it be Bain (LBO), Sequoia (VC) or Monarch (hedge funds)?  The truth is, public sector pension funds have an 8% target return rate, and the only way to even approximate that threshold is by investing in alternative investments.

          It is what it is.

          (ii) That a national wealth tax is viable?  The truth is, at one time, proponents of the national income tax were also seen as radical.  Until they weren't.

          Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. www.hamiltonproject.org

          by PatriciaVa on Fri Nov 16, 2012 at 01:01:23 PM PST

          [ Parent ]

      •  Robert Rubin Is A Disaster (5+ / 0-)

        Robert Rubin was a Wall street plant in the Clinton Administration who lobbied for the last vestiges of Glass Stegal to be repealed as Citicorp had spent 300 million in lobbying fees over the previous ten years to get most of Glass Stegal repealed. Rubin leaves Government shortly after it is totally repealed and end up at Citicorp whre he is paid 150 million and from all accounts was an awful executive there.

        Now you want us to follow his latest idea!!!

        He is what is wrong with America-somebody who  professes to want to change lives for the better-but he is willing to enrich himself whether he does.

         

        •  Citi didn't cost taxpayers anything though (0+ / 0-)

          Sure, they got a big TARP loan but repaid it fully plus $4 billion in interest.

          "The way to see by faith is to shut the eye of reason." - Thomas Paine

          by shrike on Sat Nov 17, 2012 at 02:20:45 PM PST

          [ Parent ]

          •  They Have Helped Destroy the US (1+ / 0-)
            Recommended by:
            Fairlithe

            By the very nature they are multinational; they have helped destroy the middle class and the US in the process. They have been part pof a banking oligarchy which owns our legislators in Washington and many state governments. They have destroyed democracy and therefore any dynamic growth of the middle class.

            The actions they took which forced them to be bailed out by the taxpayer have far reaching onerous effects on peoples' lives than the simple equation of paying back their Tarp money. By the way, the only way they could pay back the Tarp money is by the policies of the Fed which have allowed the banks to profit but have not compelled them to recover the country through loans to small businesses etc.

      •  public employee pension funds (0+ / 0-)

        invest in parasites that feed on private employee pension funds. How nice.

      •  even Nixon (1+ / 0-)
        Recommended by:
        PatriciaVa

        Very good idea - even Richard Nixon considered a negative income tax - that was geared to very low incomes, but something more widespread could certainly work.  Or maybe eliminate federal income tax for under $250K, which would probably give the average middle-class family just as much net income?  Then the government just keeps the wealth tax.  

    •  So - (0+ / 0-)

      Does all this mean, no more twinkies, cupcakes, and Susie Q's?  Nooooooooooo!

      •  It's okay - we can import them from Canada. (0+ / 0-)

        The Canadians will save us!

        "The fears of one class of men are not the measure of the rights of another." ~ George Bancroft (1800-1891)

        by JBL55 on Mon Nov 19, 2012 at 04:50:16 AM PST

        [ Parent ]

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