different point of view

I'm not even sure what to write here in response because this letter conveys exactly what my sentiments are. I'm not sure what I can add to this, because it seems everything I could have said has been already done so far more eloquently and convincingly than I could have.

In fact when I heard that the capital gains tax was going to be hiked up, I was pretty demoralized about what kind of impact it would have on investment into businesses (particularly start ups) and the decrease in capital flow.

Thanks for pasting this letter, didn't know it existed, and I wish more people could see this message.

The guy is right. It's a shame that instead of turning to people like him to help turn around the economy the U.S. government is doing the opposite - increasing taxes and relying on government spending to stimulate the economy.

this is retarded, first of all he sends a fucking letter persuading his workers to vote for McCain? holy shit.

Also what % of CEOs sacrificed their youths and built their companies from scratch? not many my friend, many if not most CEOs are sons or grandsons of the ones who built it, or they are harvard leeches that simply get in the spot because of connections.

He bitches about taxes? does that douchebag realizes USA is one of the lightest if not the lightest taxed 1st world country in the world? yeah.. he should move his factory to Denmark, lest see how he likes his taxes and how his employees checks sudenly are tripled up.

Also tax-cut on industry =/= tax cut in high income, you can stimulate industry by making tax cuts in it, not by income, fuck their income.


If his letter were any true all european nordic countries were in the shit hole, when you "stimulate" as he wants to all you do is get the rich richer and the poor poorer, exactly the case of mexico, Carlos Slim Helu had all the cuts (avoided taxes, corrupt mother fucker) and yeah he made a shit load of bussiness and jobs etc, yet Mexico is as poor as ever and he is the richiest person in the world.

On January 23 2009 21:06 Baal wrote: this is retarded, first of all he sends a fucking letter persuading his workers to vote for McCain? holy shit. Also what % of CEOs sacrificed their youths and built their companies from scratch? not many my friend, many if not most CEOs are sons or grandsons of the ones who built it, or they are harvard leeches that simply get in the spot because of connections. He bitches about taxes? does that douchebag realizes USA is one of the lightest if not the lightest taxed 1st world country in the world? yeah.. he should move his factory to Denmark, lest see how he likes his taxes and how his employees checks sudenly are tripled up. Also tax-cut on industry =/= tax cut in high income, you can stimulate industry by making tax cuts in it, not by income, fuck their income. If his letter were any true all european nordic countries were in the shit hole, when you "stimulate" as he wants to all you do is get the rich richer and the poor poorer, exactly the case of mexico, Carlos Slim Helu had all the cuts (avoided taxes, corrupt mother fucker) and yeah he made a shit load of bussiness and jobs etc, yet Mexico is as poor as ever and he is the richiest person in the world.

baal, you should be banned from jyang's blogs. You're truly retarded.

the best part about your post is when you totally discredit any opinion with this gem... "Carlos Slim Helu had all the cuts (avoided taxes, corrupt mother fucker) and yeah he made a shit load of bussiness and jobs etc"

aka

Ya fuck him for trying and fuck all those people he gave jobs to! MEXICANS ARE STILL POOR!'

Afaik every single publicly traded corporation cannot give executive positions by bloodline. The private firms perhaps, but those firms are literally built from the group up by the founders and their family.

Ball, I can't believe you actually think that "Harvard Leeches" didn't work their butts off during the 10 years prior in order to get into the most prestigious university in the United States, and maybe even the world? Are you fucking kidding me? Not even the strongest of legacy families aren't a shoo in at these places. I knew someone whose sister got rejected by Princeton even though their family was a legacy family of the university starting from AARON BURR (the guy who shot Alexander Hamilton in a duel). A 200 year legacy family member getting rejected.

By the way under the Obama administration, Corporate Taxes, Capitcal gains Taxes, and personal income taxes are all going up. So yes, the industry IS being taxed more in the coming years. Higher capital gains taxes means that VC activity and general investment toward high risk start ups exemplified by the High tech startups ranging from the Silicon Valley in California to the Research Triangle in South Carolina will be deeply affected.

Financial firms and Oil companies are definitely looking at going offshore, Exxon was already thinking of going overseas during the 90's, and this may push things over the top.

lol coming from sweden this sounds really weird, since USA pretty much is a tax paradise for comapanies compared to here.

agree pretty much what baal said even tough i think it's a bit harshly calling the guy a retard. it's pretty obvious he is dissapointed because of what has happened with the financial crisis and all, and now he needs a scapegoat.

All CEOs are not created equal. He makes the case quite well (and I agree with him) that what we need is a system that encourages entrepreneurship and startup businesses. If we kill that then we really do have no mechanism for the kind of economic growth that made the US into the world power it is today. But just because the founder of a startup who sacrifices as much as this guy did has the same job title as the guys in charge of some of the megacorps around doesn't mean they share anything more than the name. "Business" is not a monolithic entity and in fact represents a large number of different interests with very divergent goals. Sloppiness of thought is encouraged by the broad use of such poorly-defined terms, and the continual use of such rhetoric is a black mark on both major parties as far as I'm concerned.

On January 23 2009 21:07 Svenman87 wrote: Show nested quote + On January 23 2009 21:06 Baal wrote: this is retarded, first of all he sends a fucking letter persuading his workers to vote for McCain? holy shit. Also what % of CEOs sacrificed their youths and built their companies from scratch? not many my friend, many if not most CEOs are sons or grandsons of the ones who built it, or they are harvard leeches that simply get in the spot because of connections. He bitches about taxes? does that douchebag realizes USA is one of the lightest if not the lightest taxed 1st world country in the world? yeah.. he should move his factory to Denmark, lest see how he likes his taxes and how his employees checks sudenly are tripled up. Also tax-cut on industry =/= tax cut in high income, you can stimulate industry by making tax cuts in it, not by income, fuck their income. If his letter were any true all european nordic countries were in the shit hole, when you "stimulate" as he wants to all you do is get the rich richer and the poor poorer, exactly the case of mexico, Carlos Slim Helu had all the cuts (avoided taxes, corrupt mother fucker) and yeah he made a shit load of bussiness and jobs etc, yet Mexico is as poor as ever and he is the richiest person in the world. baal, you should be banned from jyang's blogs. You're truly retarded. the best part about your post is when you totally discredit any opinion with this gem... "Carlos Slim Helu had all the cuts (avoided taxes, corrupt mother fucker) and yeah he made a shit load of bussiness and jobs etc" aka Ya fuck him for trying and fuck all those people he gave jobs to! MEXICANS ARE STILL POOR!'

i didnt say Mexicans are still poor, i said mexicans are even more poor and Carlos Slim is a BIG reason why you idiot.

Carlos Slim didnt "try" you idiot, he heritaged the biggest monopoly in the country and with dirty tatics, deals with corrupt politicians and raping the whole industry in the country he now is owner of the entire country, you oversimplify this to a childish level, shut the fuck up when u have no clue what you are talking about.

On January 23 2009 21:15 Uptown wrote: Afaik every single publicly traded corporation cannot give executive positions by bloodline. The private firms perhaps, but those firms are literally built from the group up by the founders and their family. Ball, I can't believe you actually think that "Harvard Leeches" didn't work their butts off during the 10 years prior in order to get into the most prestigious university in the United States, and maybe even the world? Are you fucking kidding me? Not even the strongest of legacy families aren't a shoo in at these places. I knew someone whose sister got rejected by Princeton even though their family was a legacy family of the university starting from AARON BURR (the guy who shot Alexander Hamilton in a duel). A 200 year legacy family member getting rejected. By the way under the Obama administration, Corporate Taxes, Capitcal gains Taxes, and personal income taxes are all going up. So yes, the industry IS being taxed more in the coming years. Higher capital gains taxes means that VC activity and general investment toward high risk start ups exemplified by the High tech startups ranging from the Silicon Valley in California to the Research Triangle in South Carolina will be deeply affected. Financial firms and Oil companies are definitely looking at going offshore, Exxon was already thinking of going overseas during the 90's, and this may push things over the top.

oh really?



This guy graduated from Yail... he doesnt seem to bright to me.

Anybody with a properly functioning brain can easily cruise through Hardvard, they dont have the money to do so tho, and even if you do, you are not friends with the families that matter.

On January 23 2009 21:19 SpasticInk wrote: lol coming from sweden this sounds really weird, since USA pretty much is a tax paradise for comapanies compared to here. agree pretty much what baal said even tough i think it's a bit harshly calling the guy a retard. it's pretty obvious he is dissapointed because of what has happened with the financial crisis and all, and now he needs a scapegoat.

I call him a retard because this idiot complains about a non-existant socialism, he is living in a fiscal paradise and still complains and he does it because he wants to persuade his workers to vote for McCain, another piece of shit who is going to give him hug tax cuts.

ok i gotta say it.

tl;dr

but gl thought

While I cant argue with your example of bringing up that clown monkey formerly known as the commander and chief, to say that it is a cakewalk to get in and cruise through these highly prestigious universities is an insult to the thousands of kids who legitimately grinded their tails off to attain success.

For every empty skull that exits the doors of Harvard/Yale/etc, there are several hundred hardworking and capable individuals that come out with them. Baal I would be foolish to deny that there is plenty of legacy entrants and semi-"bribe" acceptants to these schools in the form of endowments (Whitman and Bloomberg giving 30Million+ comes to mind), to generalize the entire group of students at these institutions is simply going too far.

As a successful poker player you obviously had to put in countless hours of work to get to the point you are, and no one should be able to take these accomplishments away from you, or diminish your abilites. However, to degrade the legitimate students at these places due to the select few who come into the spotlight for their idiocy and "cheating" ways is analogous to the lay man illegitimizing your accomplishments and hard work as a poker player because of the select few "SuperUsers" that exist.

Blame the 'system' or the heirarchy within the academic institutions themselves who have decided that accepting these underqualified individuals would benefit the overall student body as a whole for one reason or another, but please reconsider your overarching judgement on the overwhelming majority of students who deserve what they have achieved and won through their own perseverance.

Looks so fake, and if it's real what he wrote is just plain retarded. Like someone forced him to build his company and QQing in an open letter to his employee where he basically say he'll go south with the money and let them down sounds like uber douchery to me. He sounds like a gigantic republican doucheface and his letter is not helping his cause, not a bit.

I wanna drop in here to say that i agree with what Uptown said

and that I do not really oppose inheritence, its really the family's hard work and they should be rewarded in seeing that their descendents are running the company.

inheritence isn't that big of an issue as the inheritence tax on the super rich is HUGE and the govt already knows that its there to prevent money from going down for generations, like the rockefellers fortune.

but its fair that families with couple million don't really pay much inheritence tax and they can see their kids enjoy their hard work. which u can call is like happiness to them. a reward for the work they put in.

edited based on the below post... dunno where i came up with that # haha

there hasn't even been 20 generations of rockefellers and their money is a tiny fraction of what it use to be. Family wealth usually disappears after 3 generation because the kids and grand kids squander it. It's a myth that most people are rich only because they come from rich families. Family wealth simply doesn't last, especially now a days when savings and investments are evaporating.

On January 23 2009 22:21 masterfrywad wrote: there hasn't even been 20 generations of rockefellers and their money is a tiny fraction of what it use to be. Family wealth usually disappears after 3 generation because the kids and grand kids squander it. It's a myth that most people are rich only because they come from rich families. Family wealth simply doesn't last, especially now a days when savings and investments are evaporating.

wealth does not last if the next generation is incompetent, but it grows fast if it isnt, since money attracts money and that is an inmutable law of bussiness.

BTW the Rockefeller fortune has never been properly tracked since for obvious reasons do not want this out but actually they are estimated to surpass Carlos Slim by a huge margin.

On January 23 2009 22:04 Uptown wrote: While I cant argue with your example of bringing up that clown monkey formerly known as the commander and chief, to say that it is a cakewalk to get in and cruise through these highly prestigious universities is an insult to the thousands of kids who legitimately grinded their tails off to attain success. For every empty skull that exits the doors of Harvard/Yale/etc, there are several hundred hardworking and capable individuals that come out with them. Baal I would be foolish to deny that there is plenty of legacy entrants and semi-"bribe" acceptants to these schools in the form of endowments (Whitman and Bloomberg giving 30Million+ comes to mind), to generalize the entire group of students at these institutions is simply going too far. As a successful poker player you obviously had to put in countless hours of work to get to the point you are, and no one should be able to take these accomplishments away from you, or diminish your abilites. However, to degrade the legitimate students at these places due to the select few who come into the spotlight for their idiocy and "cheating" ways is analogous to the lay man illegitimizing your accomplishments and hard work as a poker player because of the select few "SuperUsers" that exist. Blame the 'system' or the heirarchy within the academic institutions themselves who have decided that accepting these underqualified individuals would benefit the overall student body as a whole for one reason or another, but please reconsider your overarching judgement on the overwhelming majority of students who deserve what they have achieved and won through their own perseverance.

Its not a walk in the park, but intelligent people will pass it withouth much trouble, like many people int his forums what im saying is that if you are lets say Daut, graduate from Harvard bla bla, u will do good, but you wont be the CEO of Cerberus, because you are not IN the club.

On January 23 2009 22:14 JYang wrote: I wanna drop in here to say that i agree with what Uptown said and that I do not really oppose inheritence, its really the family's hard work and they should be rewarded in seeing that their descendents are running the company. inheritence isn't that big of an issue as the inheritence tax on the super rich is HUGE and the govt already knows that its there to prevent money from going down for generations, like the rockefellers fortune. but its fair that families with couple million don't really pay much inheritence tax and they can see their kids enjoy their hard work. which u can call is like happiness to them. a reward for the work they put in. edited based on the below post... dunno where i came up with that # haha

i dont oppose inheritance either, it is natural for a father to try to do it however thats not whats giong on, this is not the father leaving the business he built to his son, this is more like the wealthy familie exchanging seats in the positions of powers constantly, kind of the way the jews handle themselves.