An ATM receipt showing a $100 million account balance was left behind at a Hamptons, Long Island Capital One bank. The receipt, uncovered by Dealbreaker.com, reportedly belongs to billionaire hedge fund manager and Hamptons resident, David Tepper. The ATM slip shows a savings balance of a whopping $99,864,731.94.
What’s in your wallet?
For Kindle and with free ePub version. Only $9.49 Great reading.
Here is what Gary Shapiro CEO of the Consumer Electronics Association (CEA) said: Dvorak's writing sings with insight and clarity. Whether or not you agree with John's views, he will get you thinking and is never boring. These essays are worth the read!
Subscribe to Main Blog feed here:
Subscribe to Comments too (below):
Bad Behavior has blocked 5351 access attempts in the last 7 days.
GregAllen: ding, Ding, DING. Demonstrating the application of ZERO SUM GAME even when it need not be played, and its not a game.
Regardless of how nice people are to cable installers, or vice versa.
GregAllen: So far, the “ultra rich” you, Obama, Pelosi, and Reid describe is simply anybody earning more than $200K-$250K under current and proposed law. There are no brackets for $1M+, $10M+, let alone $100M+. Now those would be considered Rich by most people unless you’re Bill Gates.
As for “fair share”, keep in mind that for decades, the top tax rate was 90%. That was called a “fair share” by New Deal Dems. A 90% tax rate has historically been associated with invading armies when they’re in “plunder” mode. Yes, I know, in practice almost nobody paid that rate due to the tax shelters corruption created, but the fact remains that a 90% tax rate was widely proclaimed to be “fair” by most Dems for decades as well as Law. Populism is a nasty, malignant cancer that destroys peoples’ ability to think clearly.
The harsh, simple fact is is that government has a spending problem, not a revenue problem. If you can’t get by on $2.5 TRILLION PER YEAR, you got a PROBLEM. What’s the national budget these days, $4 TRILLION? Hell, it wasn’t THAT long ago when people were screaming about the unheard of and mind boggling $1 Trillion Dollar budget. The rate of budget increase has been going up exponentially for decades regardless of who’s in power – it’s now several hundred billion more per year every year than the previous year. And that’s before special budget items like wars and useless “stimulus” spending are factored in.
If the government’s spending problem was a drug problem instead, the government would be Elvis just before he died on the toilet. The Solution would be to take fewer drugs, not more.
How to spot a shill: “The harsh, simple fact is is that government has a spending problem, not a revenue problem.” /// ….but why bother since it is so clearly demonstrated.
So how do I contact this person about my new job. According to the Republicans he should technically be creating it as I type.
Looks like I will be defaulting on my credit card for the first time in years. Why? Because I still have not found a job in my high unemployment havin’ pos of a town.
And dig this… I have been paying for payment protection insurance for just such an occasion. However when I called them they said I can’t use it. Why? Because I lost my job over a year ago. They said I should have called them immediately.
I didn’t call them because I was using my unemployment benefits to pay them. When that ran out I was using some of my PELL Grant refunds to keep paying them. But then I lost my financial aid mainly over the stress of not having a steady income anymore.Soon after my savings dwindled to zero. Now I have been talking to the school counselor, who is trying to get me help for my severe depression. Who’s going to pay for that?
But supposedly if I had called them immediately after I lost my job they would be paying the bills for 12 months. I said “but doesn’t it affect your credit score when you activate the insurance?” They said “No, it does not.” I’ll just freakin’ bet it don’t, lying a$$h013s. This country is going to the hogs.
If I were him I’d ALWAYS leave my ATM receipts.
>The rich can afford to pay their fair-share of taxes. The rich can pay _much more_ without giving them a single inconvenience.
They can also afford to not work at all. They can afford to not expand their businesses.
Let’s say I have a business with an income close to $250k. I could hire a few developers for $150,000, and maybe that will make me an extra 300k. After taxes that is down to $150k, if I get the $300k to begin with, a big risk. I’d be better off just not hiring anyone and sticking with the money I have. Or I could go for H1 or L visas, lowering my costs to 70k. At the tax rates liberals suggest, it is not worth it for people to take risks to make more money.
Lyin’ Mike==your continual pushing of the “idea” that the rich provides jobs is driving a stake thru the fiscal/tax responsibility of the USA.
Only a shill posts as you and Drive By do.
The truth is as this thread shows: the rich park their too much to spend excess riches in non productive places like checking accounts in case they get the itch for a few Rolex’s.
Jobs are driven by demand which is created by the employed middle class/bottom 99%’ers spending their money on food, clothing, shelter, healthcare, etc. NOT on luxury items.
It doesn’t bother me at all that a few f*ckwads like yourself and Drive By offer up the stupidity that you do. You are just being self involved to everyone else’s harm. Thats democracy. What bothers me is the number of throat cutting suicides that march right along with you not telling shit from shinola. Thats stupidity.
Sure looks more and more like the Pukes think taking the USA into debt crises is the way to unseat Obama regardless of the billions it will add to our debt by way of increased borrowing rates for the next decade.
Hey–they really are trying to Kill America.
Been going on long enough and clear enough, I can’t even get excited/depressed about it any more. Knowledge is a powerful curative.
Still sad though.
Having him park his money in a checking account, means that the bank can then lend $300 million for other people to open businesses, or buy houses(GULP).
There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it…
Spoken 115 years ago.
>> bobbo, words have meaning said, on June 30th, 2011 at 6:02 pm
>> GregAllen: ding, Ding, DING. Demonstrating the application of ZERO SUM GAME even when it need not be played, and its not a game.
I know the general economy isn’t a zero-sum game. But the Federal Budget (more or less) is.
When the conservatives create huge tax give-aways to the rich, it shifts the tax burden to the regular people.
Link below is to what we already know: 88% of the recovery wealth has gone to corporations: used to buy back stock and executive bonuses. Only 1% went to working class wages and salaries. IOW==the wealth disparity grows. Along with the for profit incarceration industry secretly and privately lobbying to make being poor a crime in the USA, the trend lines are clear:
How many years before AmeriKa becomes a prison camp laboring society for a few plutocrates living in palatial mansions?
Only two things can stop/slow/reverse this well established trend: Second Amendment Remedies, – or – a change in tax policy.
“The harsh, simple fact is is that government has a spending problem, not a revenue problem.”====The sentiment is true enough if one equates the government with our corporate over lords AND if you assume an armed populous will quietly and peacefully allow themselves to be enslaved by the very few. Just the opposite if you follow history.
Mickey—really, you’ve got some deeper thinking to do.
http://motherjones.com/kevin-drum/2011/06/winners-and-losers-great-recession
Drive by,
If we cut like you conservatives demand, it will trigger a second, worse recession.
But maybe that your goal.
MikeN,
I think you summed up the lib vs. con mind-set pretty well.
I think it is in our national DNA:
Modern conservatism is rooted in the southern plantation mentality. Your life will only get better if your plantation owner prospers more through your hard labor.
Modern liberalism is rooted in the western settler mentality. Your life will only get better if you own a little piece of land and labor hard to improve it.
#44–GregAllen==DriveBy and Mickey are NOT CONSERVATIVES. Regan was a conservative, he raised taxes.
No–DriveBy and Lyin’ Mike are not so respectable. Shills for the Super Rich who psychotically have it in mind to “Corner the Market on America.” Take all the wealth and parcel out only what little bit is necessary to keep the greatest share.
Its not enough to have more than everyone else, more than you can spend yourself–when you care about nothing else, its important to have it ALL. You don’t win if anyone else has anything.
Its the logical resting point of those who live to make money as their only goal in life. This corruption of mind/politics/values has consequential effects on those who aren’t this far gone but who are very attracted to the value and/or its close benefits==political power and influence for instance.
Do these people know what they do? Not fully. You see it with the Credit Collapse of 08. “I didn’t realize……” “I didn’t know……” “I was wrong……”
But the downward spiral continues at full and increasing gallop. We DO realize, we DO know, Yes, it is wrong===yet we continue head long.
Tiny Silver Fish
Facing Upstream, Going Downstream
In clear, swift water.
The super rich—riding their camels thru the eye of the needle.
Wow, Reagan raised taxes? I thought the top tax rate went from 70% to 28%. I’d be happy to have more tax hikes like that.
Lyin’ Psychotic Shill Mickey: yes, Regan raised taxes. Regan also lowered taxes. There are lots of taxes/fees/loopholes/exceptions. when you look at a lot of everything, and only see one thing==you are biased. When you “know” all these things and still post as if there was only one thing–you are a shill.
Shill.
>Modern conservatism is rooted in the southern plantation mentality. Your life will only get better if your plantation owner prospers more through your hard labor.
Modern liberalism is rooted in the western settler mentality. Your life will only get better if you own a little piece of land and labor hard to improve it.
You need to read more of Bobbo’s posts. Liberalism is rooted in liberals take more and more, but will give you scraps from the table.
Putting the Liar in Lyin’ Mike==scraps from the table fairly only describes the Republican Trickle Down policies that are fully engaged in right now.
Liberal policy is for everyone as much as possible to have their own table and own scraps. That does require a few people not own all the tables.
Just how odious can you be Mickey?
for real? or just zooming who?
Yes, this whole “trickle down” hypothesis does not work. And I say hypothesis because it doesn’t qualify as a theory. Theories are widely accepted principles based on observation. Observe trickle down economics as it has been at play since the Reagan era. You will see that the money doesn’t actually trickle down. It stays in the hands of the upper echelon. They then decree it did not trickle down because they need more to make it work. Rinse & repeat as necessary until we no longer have a middle class. That is where we are today ladies and gentleman. Soon enough you will see our democracy replaced by an oligarchy if things continue down this path. And the fact that the Republicans are willing to collapse the economy to gain the White House in 2012 is frightening. I would have to agree with Thom Hartmann on this one, “crashing the economy for political gain is akin to treason.” Enough said, wake up people, it’s a shell game. Play it long enough and you will lose your equality.
#32 Greg, The Repukes, Cons, and Baggers want to cut SOCIALL SECURITY AND MEDICARE TO GIVE ***EVEN MORE TAX CUTS FOR THE RICH*** !!! The Rich do not want TO PAY ***ANY TAXES*** !!! Check out Ryan’s “Plan” – yeah, the one that was DOA AT THE CAPITOL !!! These GREEDY BASTARDS ALWAYS ***WANT MORE*** !!! And THEY ARE THE ONES SETTING UP ***DEATH PANELS*** FOR SENIORS !!!
Ha, ha. Excellent Mike. Been saving that long? Well done. My “other use” of the phrase never crossed my mind. If this were a political race, you would have destroyed me. Egads!!!
My defense: words have meaning, and a context. In context, different tables are being talked about and indeed the political parties are much too much the “same” all to our mutual dismay. Different again are the few tables of the Super Rich in the metaphor of trickle down economics.
Mickey–how can you be so smart, oft times so reasonable “sounding”, and yet such a shill? does money capture you so? That small hearted, or short sighted? What do you think accounts for it?
I do enjoy challenging you for this very reason. Every once in a while, you produce the goods.
You are wrong, but still well done.
Congrats.
Ever noticed how every multi millionaires are always jewish? List of Forbes richest? Jewish. Fortune 500? Jewish CEO’s. It seems that nepotism is a jewish trait that allows them to assume control of powerful position. And to think whites get the blame for capitalism’s exploitation of the minority. Nevermind that the Federal Reserve has ALWAYS had a jewish boss since 1913. If you ain’t a JEW you are not getting a job at the Federal Reserve. With the JEW Federal Reserve you have a central planning command economy. Capitalism Fail.
Bill Gates? Jewish. Warren Buffett? Jewish. Sam Walton? Jewish.
Hey Mike. I was getting too tired last night to give you my full response. I stop after I confirmed I was “right” in making both statements, so I knew the missing element was “context.”
This morning that context was crystal clear to me. Since it may not be to you, I will share that now.
The Trickle Down Economics demonstrated as a failure of Republican Economic theory fails because the Rich by and large keep way too much of the money they keep/get as a net of whatever government policy is at hand. IOW–they don’t create JOBS with it, they invest in overseas, or they sit on it. Scraps do not fall off their table in any sufficient quantity to feed/nourish/provide JOBS to society as a whole.
That is what the Super Rich do with their money. That top .25%-1% of people—individuals.
There is another class of people: Dumbo’s and Pukes in Congress. They too have a table and scraps that fall from it. The Pukes give all their scraps/largess/governmental proceeds to the Rich. So do the Dumb’s most of the time, but every once in a while, they give some of their scraps/largess/governmental proceeds to the PEOPLE. Think MediCare/Caid, Social Security, Minimum Wage, Unemployment Insurance, and on and on.
I’m sure you can see how CONTEXT adds to the definitions/meanings of words and ideas.
I thought Jews were more successful than the rest of us because they were genetically smarter? Higher IQ’s. Culture. Nepotism. We all do it. But not every one of them all the time. Jeeze. Well, maybe if all they had to compete against were Nazis?
>yes, Regan raised taxes. Regan also lowered taxes.
I’d love to have a repeat of that combination.
Mike–I will likewise take it as an article of faith that you are wrong. On faith: yes, re-establish the tax code as it was under Regan ((we can cherry pick at what point))==28% or 35% top rate with loopholes closed. Then like our borders: enforce the fricken law against cheats. For some reason, Raygun chose not to do that==just like all the other creeps.
Hmmm, bobbo’s endorsing a 28% top tax rate.Any other takers?
Benjamin Franklin pointed out a couple hundred years ago that the rich should pay him as constable in Philadelphia more money than the poor because they benefit the most from the stability of society as it provides the stable foundation for infrastructure and the ability to amass their fortune.
Taxes are patriotic, even the ones for programs you may not personally like. The rich should pay more because they benefit more and rely on the community to both grow and protect their wealth.
You may be one of those selfish asswipes who are content to let kids grow up ignorant, roads and bridges to collapse, and the poor and sick to simply die disgust me.
I pay my taxes gladly, and I probably make as much if not more than the asswipes like you wailing about their taxes.