By allowing financial advisors to put their own interests ahead of their clients, the few bad actors will be unfairly competing with the many ethical financial advisors who actually do a good job.
Two hundred and thirty years later, the cancer of money in politics — as epitomized by the gross wealth and political power of players like Rubenstein — threatens to destroy that very same democracy.
We would expect a more serious analysis from the largest newspaper in the Wisconsin, but they missed the fundamental issue.
“Protect America’s Consumers” is actually a trade group trying to protect the payday lending industry from regulation.
Some of our leaders suggest that American families must live within their income and balance their budgets – and that should apply to the government too. That is simply not the case. The government of the most powerful country on the face of the earth is fundamentally different than a typical family.
Some part of our national income is spent on collective purposes — the common good. Should decisions on how to spend that money be made by (a) individuals who earn the money deciding how to spend it or (b) representatives elected by the voters deciding?
I say to all of the legislators who are backing HR 4018, the Orwellian named Consumer Protections and Choice Act: States should be allowed to impose additional restrictions on lenders (including licensing requirements) but the federal government must establish a nationwide minimum standard which which all payday lenders must adhere.
Regular people all over America are keenly aware of the corrupting influence of money in politics. They are rightfully angry. The DNC just gave them one more reason for their anger.
I don’t see refragmentation; I see the winner-take-all economy. A few decades ago, there was plenty of room for the tenth best car service or the twentieth best restaurant, or the seventh best book store. Not any more.
Does the United States Congress think that big companies should be able to spend money on politics, secretly?
Just donate a few tens of thousands of dollars to a Senator and then when he reaches out to extend his thanks, explain to him the grave injustice to which the bank is subjecting you to, and explain how it could all be made right by just adding one harmless little non-controversial paragraph to the Trust Indenture Act.
In a report entitled Billionaire Bonanza released December 2, my fellow Patriotic Millionaire Chuck Collins and Josh Hoxie of the Institute for Policy Studies detailed the extreme and growing level of wealth inequality in America. The results truly scared me and you should be scared too, whether you are part of the 99% or part of the 1%.
Think quickly- are you trying to sell something in a foreign country and frustrated by government regulations? If so, the TPP might be able to help you. If not, you are part of the majority of those who will not see immediate benefits. The hope is that some of the benefits will “trickle down” to you, though as we know, that hope tends to fall short.
Switching the United States to a gold standard would be a really big deal. Gold has recently been around $1,160 per ounce. The US treasury has around 261 million ounces of gold, which is worth around 303 billion dollars at the current price. The money supply (M1, from the H.6 report from October 22nd) is around 2.6 trillion dollars.
Please read a new op-ed by Patriotic Millionaire Chairperson Morris Pearl, former Managing Director of BlackRock Inc., titled “Tax Plan Proves Billionaire Populist Really Just a Billionaire” in The Hill.
The Republicans in the United States House of Representatives are working on a bill to prevent the Obama administration from passing rules requiring people who work with peoples’ retirement accounts (IRAs) to act in their clients’ best interest.
We reject the premise that increasing taxes is bad.
The National Labor Relations Board just released a ruling that, according to Forbes, “could end contract labor as we know it.” The board essentially decided that two (or more) companies could be considered “employers” if they jointly determined the terms and conditions of employment.
Walmart announced their financial results yesterday. In short their sales are up a little, but their net profits are down a little. Some commentators are suggesting that Walmart’s recent decision to increase the pay of their lowest paid workers is a problem. For example, CNBC’s headline reads: “Is Wal-Mart just the first victim of rising wages?”
The Patriotic Millionaires recognize that many of the specifics of the corporate tax code are indeed complicated. But our positions on corporate taxes is not. Big businesses get a lot from this country, they should put more back in. It’s that simple.