Capital gains should be taxed HIGHER than labor.

[freshwest]

52. Which cuts out the speculators going for the quick buck, right?

Last edited Thu Aug 16, 2012, 01:53 PM - Edit history (1)

Aren't they using nearly the same corporate practices as Romney did with Bain?

I was just thinking yesterday of a situation I saw developing where a combination hotel, rental, etc. property was sold off as the owners aged and retired. There was a sense of community, it was all natural and maintained beautifully, and employed some of those living there to do things in a sustainable and positive way.

The new owner immediately stripped the property of most of the landscaping, dissolved the part of the property that was generating employment, raised the rates to the point no one in the rentals could live there and worked on closing the hotel.

He then went on the cheap with everything, forcing the managers to work 72 hour shifts, lowering the quality of living while upping the price to levels that drove the long time residents out, and turned the hotel into apartments, making a turnkey operation.

His business adviser was showing him how to become very wealthy and live the high life, which he achieved, hardly working at all. He did it like Romney did, constantly borrowing against the value of the property to take money out for himself, and raising the costs of all below. And did everything he could to hide his money from the tax man.

It wasn't just Romney following that predatory business model. It's across the country.