When a Weasel has Sex with a Vulture
When a weasel has sex with a vulture, they give birth to a mittnewtrick. This offspring is a prime example of the 1% that has profited from greedy, underhanded and opaque dirty dealings. Vanguard founder Jack Bogle has said that we used to invest in stocks that we believed in instead of speculating and profiting from churning trades every milli-second. Now look where we are.
We just heard yesterday that Mitt pays a tax rate of only 15% on his multi-million income from not working. His income is deferred compensation from his days as a private equity trader many moons ago with Bain Capital. http://en.wikipedia.org/wiki/Bain_Capital As Monk would say, here’s what happened: In the 1980s when it was incorporated, his business Bain and Co. Consulting counseled w/ companies on how to run their operations more efficiently. Nothing wrong with that. Once they were paid for that service–whether the client took their advice of not–Bain’s job was done.
However, then the firm weaseled and morphed its way into vulture capitalistism by adding a separate entity to their corporate identity: Bain Capital. In the name of “efficiency,” B.C. began buying up bankrupt companies, selling off assets, and stripping away employees to increase that entity’s stock share. Bain Capital principal partners took 20% off the top before any other stockholders got a penny. They then designated this income as capital gains and deferred distribution as future income. So instead of paying 35% on this money as regular income, they can pay 15% on it as capital gains. What a phoney rip-off!! The lobbyists got Congress to get rid of certain financial firewall laws or create handy new enablers to create this loophole (and others) so that the Harvard and Wharton Biz school brainiacs et al. could invent ever more vulture cap vehicles to drain our economy. All while stating: We’re just pursuing the free-market capitalist dream.
When Mitt reveals his income tax records, the public will discover that he’s worth 140 to 250 million and making over a million a year for not working. A REAL CAPITALIST WELFARE QUEEN. And don’t think that Newt G. (Mr. Fannie Mae) and Rick S. ( Mr. K Street earmark lobbyist) are any better than Mitt. They were in Congress when the deals were going down which helped facilitate the financial scams by making them legal.
As we see our savings and jobs dry up, we were both furious but Deb got tired of us both calling these rip-off artists “assholes" and suggested using "weasel” instead. But today since I’m writing this, I’ll call them assholes.