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Comment Re:Wow, 3% = doom? (Score 1) 609

(1) Spending money on wasteful harmful shit, i.e. warfare (DoD, CIA, etc.), police state (FBI, NSA, etc.), drug war (DEA, etc.), etc.

Are you suggesting the US just eliminate these organizations or that politicians should adjust their directives through policy and doctrine? Because if it's the latter, then you're likely not going to affect any real savings as a percentage of the budget.

(2) Permitting the financial industry to extract such insane rents on everything by not regulating them.

I'm in the financial industry, neck deep in it, and we operate under oppressively redundant regulations; the cost of which we pass on to our clients who pass them on to you and the federal government through tax deductions. The problem is that regulations were written to benefit the largest and most politically influential banks.

In fact, Mitt Romney discusses this scenario very elegantly in his book. Too bad more people didn't read it, as this election will really have some consequences. :-)

(3) Subsidizing established industries, especially oil, nuclear, and agricultural subsidies.

Solar energy subsidies dwarf the above by near orders of magnitude. Do you think those subsidies should cease as well?

We could cut taxes by massive amounts if we halted all that waste, corruption, and exploitation.

We could do the above for the common good, but it is not enough *significantly* cut taxes. To do that would require cutting or eliminating entitlement spending. And besides, once a tax is levied, the imperative is to spend that money, not return it.

The Christian religion has been and still is the principal enemy of moral progress in the world. -- Bertrand Russell

Apparently Bertrand Russell was a fool. Who knew?

Comment Re:Romney Most Qualified (Score 2) 501

He might know PDEs, but what does running a VC firm have to do with being qualified to be president? The two have almost nothing in common.

I could not disagree more! The character and success of the United States is all about "venture capital". Romney's got EXACTLY the right executive experience as a CEO and a state governor to get capital flowing again to US businesses helping them to increase payrolls and become more internationally competitive.

Will he be successful as president? Who knows. But he's a much better set of dice to roll in 11/2012.

Comment Romney Most Qualified (Score 5, Interesting) 501

Here we go. The hard and heavy wheels of destruction are starting to turn. Inevitable I suppose.

IMO, Romney is, intellectually and experientially, the most qualified candidate for US president that we've seen in the last two centuries. I'm not sure what kind of president he'll end up being, but he is certainly qualified for the role and infinitely more qualified than the current US president.

FWIW, I had the opportunity to work in fairly close proximity to the man back in 1994. Back then I got the distinct impression that he was generally the smartest guy in the room. But what really stands out in my memory was a meeting where various topics of quantitative finance were detail. He was very comfortable with partial differential equations. :-)

Comment Re:Tax planning and rich people (Score 1) 2115

You're not entirely correct. Short term capital gains occur when profits are generated on assets owned for less than a year. These gains are fully taxed as income. Long tern capital gains ( > 1 year) are taxed at a lower rate. In Buffett's case, he has owned his BH shares since they were created, so he just sells off enough shares throughout the year to cover A PORTION of his income needs.

Comment Re:Boo-hoo! (Score 0, Offtopic) 121

Hello taiwanjohn, nice to meet you. I'm a "Fat-cat commodities gambler" here in Chicago. Have been in the business for over 20 years along with writing proprietary software for other "fat-cats" and "fat-cat firms" for even longer. I too pay taxes (a very large amount) and spend money in our economy just like you. So what industry and line of work are you in?

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