Gazunk!

Senators want new law to tax people who renounce U.S. citizenship

blogger — Thu, 17 May 2012 15:28:53 +0000

05/17/2012 Senators Schumer and Bob Casey will outline their plan to re-impose taxes on expatriates even after they flee the United States and take up residence in a foreign country.

I seem to remember a war fought a couple of hundred years ago, over taxation without representation. Does this sound familiar to anyone? Anyone? Bueller?

Those who fail to learn from history are doomed to repeat it

blogger — Mon, 14 May 2012 14:45:30 +0000

http://twitter.com/TrainByTweet_AW

There is no instance of a country having benefited from prolonged warfare. – The Art of War by Sun Tzu

In war, then, let your great object be victory, not lengthy campaigns. – The Art of War by Sun Tzu

JP Morgan posts $2B in trading losses: Why it happened explained

blogger — Fri, 11 May 2012 17:58:27 +0000

http://gazunk.com/b2blog/index.php?blog=5&title=dana_french_triparadigm_ceo_answers_ques&more=1&c=1&tb=1&pb=1

Here is what the Chief executive of JP Morgan said:

Jamie Dimon, chief executive of JP Morgan, told reporters after US markets closed that the losses were caused by “errors, sloppiness and bad judgement". “This was a unique thing we did,” Dimon said. “Obviously it had a lot of problems. It was a bad strategy. It became more complex, it was poorly managed.”

Here is why it happened:

When you pay your employees large bonuses based on short term gains, the result is you get short term gains without regard for long term consequenses. This is yet another example of the “Wharton School of Business Management Mentality” that is destroying businesses in the USA.

A related previous blog post

Does the tax code make sense to Malia and Sasha?

blogger — Thu, 10 May 2012 02:52:08 +0000

Quote from Obama regarding gay marriage: “You know, Malia and Sasha, they have friends whose parents are same-sex couples. There have been times where Michelle and I have been sitting around the dinner table and we’re talking about their friends and their parents, and Malia and Sasha, it wouldn’t dawn on them that somehow their friends’ parents would be treated differently. It doesn’t make sense to them and, frankly, that’s the kind of thing that prompts a change in perspective.”

This begs the question, if Obama is basing his opinion on gay marriage from Malia and Sasha not understanding it, then I have to ask, does the tax code makes sense to Malia and Sasha? If not, then logic dictates that it must prompt him to change his perspective on the tax code.

How to destroy a good idea

blogger — Tue, 08 May 2012 15:02:54 +0000

Nothing destroys a good idea faster than a mandatory consensus. The lowest common denominator is never a high standard. – Jessica Hagy