Lunes 22/08/11 Obama esta de vacaciones por 10 dias

[admin]

Accion la proxima semana: Jackson (Hole)

El evento mas importante de la semana viene al final de la semana. La mayor parte de la semana sera dominada por las noticias provenientes de Europa, pero habran otra distracciones.

Next Week’s Tape: Action Jackson (Hole)

By Mark Gongloff

The big event of the week comes all the way at the end of it. Bah! Most of the rest of the week will be dominated by developments in Europe, but there will be some other distractions along the way.

Economics:

Monday

Chicago Fed National Activity Index: Doesn’t get the attention it deserves, but this report will be about July, which is when dinosaurs roamed the earth.

Tuesday

New Home Sales: You get one guess how this went.

Treasury Auctions 2-year Notes: And you’ll buy them.

Wednesday

Durable Orders: For July. How many Flintstone cars were mined down at the quarry?

Treasury Auctions 5-year Notes: And you’ll buy them, again.

Thursday

Jobless Claims: 400,000 or bust!

Treasury Auctions 7-year Notes: You know you want them.

Friday

GDP, Second Quarter Second Estimate: No education in the second kick of a mule.

University of Michigan Consumer Sentiment: If economic reports were songs, this one would be “Hurt,” as sung by Johnny Cash.

Ben Bernanke Speech at the Fed’s Jackson Hole Symposium: I can haz stimulus?

Earnings:

Monday: None

Tuesday: Heinz, Medtronic. Who wants some ketchup with their medical stuff?

Wednesday: Applied Materials. Who wants some materials applied? I got nothin’.

Thursday: Big Lots, Hormel, Patterson. Who wants a family-sized tub of Spam? And then some dental care?

Friday: Tiffany. Who wants to bet Newt Gingrich makes the 10-Q?

[admin]

Jefe ICAP dice podría dejar UE por impuesto a transacciones
domingo 21 de agosto de 2011 10:01 GYT
Imprimir[-] Texto [+] LONDRES (Reuters) - El gigantesco operador ICAP dejará la Unión Europea si en el bloque entra en vigencia un impuesto a las transacciones financieras propuesto por Alemania y Francia, dijo el presidente ejecutivo de la compañía en un reporte publicado el domingo.
"Compañías como ICAP simplemente saldrán de la UE si (el presidente francés) Nicolas Sarkozy y (la canciller alemana) Angela Merkel siguen adelante con este tonto impuesto", afirmó el presidente ejecutivo de ICAP, Michael Spencer, citado por el diario británico The Independent.

Los líderes de Francia y Alemania mencionaron el impuesto el martes como parte de las propuestas para proteger a la zona euro de su creciente crisis de deuda, pero Gran Bretaña y los Países Bajos se han opuesto a la medida, en particular si no se aplica a nivel global.

Spencer, quien ha sido un importante donante del gobernante Partido Conservador de Gran Bretaña, dijo que las firmas financieras se mudarían a Nueva York y Singapur si el impuesto entra en vigor.

"Esta es otra amenaza cínica de Sarkozy, quien sabe que este impuesto golpearía en gran medida a Londres porque es ahí dónde se operan billones de dólares todos los días", expresó. "Sólo podría funcionar si es adoptado a nivel mundial", agregó.

ICAP reportó un aumento del 10 por ciento en las operaciones de sus plataformas electrónicas a 878.000 millones de dólares en el segundo trimestre de este año.

[admin]

5:24 p.m. EDT 08/19/11Treasurys
    Price Chg Yield %
2-Year Note*   0/32 0.198
10-Year Note*   1/32 2.064
* at close
7:28 p.m. EDT 08/21/11Futures
  Last Change Settle
Crude Oil 81.76 -0.50 82.26
Gold 1871.0 18.8 1852.2
E-mini Dow 10735 -85 11017
E-mini S&P 500 1115.00 -28.50 1143.50
7:37 p.m. EDT 08/21/11Currencies
  Last (bid) Prior Day †
Japanese Yen (USD/JPY) 76.84 76.55
Euro (EUR/USD) 1.4367 1.4395
† Late Friday in New York.

[admin]

U.S. Stock Futures Drop After Big S&P 500 Slump
By Rita Nazareth and Inyoung Hwang
August 21, 2011 19:26 EDT

U.S. stock futures fell, indicating the Standard & Poor’s 500 Index may extend its biggest four-week drop since 2009, as investors weighed concern that the global economy is stalling with the cheapest valuations since 2009.
S&P 500 futures expiring in September declined 0.8 percent to 1,115.60 at 8:24 a.m. in Tokyo. The measure plunged 4.7 percent to 1,123.53 last week, giving it a 16 percent loss since July 22. A closing level of 1,090.88 would bring the index to a 20 percent decline since April 29, meeting the common definition of a bear market.
“People just want to stop the pain,” Matt McCormick, a money manager at Cincinnati-based Bahl & Gaynor Inc., which oversees $4 billion, said in a telephone interview. “They are looking for safety, stability and downside protection. Yes, the market is getting cheaper and cheaper, but not many people really care about valuations right now. Investors are concerned about a recession. The macro level is more important.”
Stock futures briefly pared losses on Aug. 19 before U.S. exchanges opened amid optimism European Union regulators may push for joint bond sales by euro-area nations to help contain the debt crisis, putting pressure on Germany to drop its opposition. German Chancellor Angela Merkel attempted to stop speculation about common bonds, saying yesterday that she won’t let markets dictate policy.
Record-low yields on U.S. Treasuries show traders expect Federal Reserve Chairman Ben S. Bernanke to signal as soon as this week that the central bank will begin a third round of asset purchases to boost the economy, a scenario the world’s biggest bond dealers said is unlikely.
Bond Purchases, Recession
Barclays Plc said 10-year yields indicate traders have priced in $500 billion to $600 billion of Treasury purchases by the Fed. Citigroup Inc. said current rates can only be justified by more central bank bond buying, also known as quantitative easing, or assuming the economy will shrink 2 percent.
Gold futures climbed for the sixth straight day, while oil fell a third consecutive day. Gold rose 1 percent to $1,871.50 an ounce. Crude lost 0.7 percent to $81.70 a barrel.
The yen depreciated against 16 major counterparts after the Nikkei reported Japan’s government and central bank are prepared to intervene in the foreign-exchange market this week if the nation’s currency continues to strengthen, citing unidentified government officials.
The Swiss franc weakened versus 15 of 16 peers. The U.S. Dollar Index rose 0.2 percent to 74.137, and the New Zealand dollar slumped against 15 of 16 major rivals.
‘Dark Clouds’
“Investors are worried that the dark clouds are forming and they don’t know if it’s rain shower or a hurricane,” Jack Ablin, chief investment officer for Chicago-based Harris Private Bank, which oversees $60 billion, said in a telephone interview. “It’s been a tug-of-war between economic concern and companies trading at decent valuations. I’m a little worried that everybody is expecting something from the Fed. QE2 was effective for equities because it was a surprise. If I were Chairman Bernanke, I’d try to do something creative.”
U.S. stocks tumbled last week as concern the global economy is stalling overshadowed the cheapest valuations in 2 1/2 years. The Dow Jones Industrial Average fell 451.37 points, or 4 percent, to 10,817.65, extending its four-week decline to 1,863.51 points.
Hewlett-Packard Co. plunged 27 percent last week, the most since the October 1987 market crash, after a strategy shift undermined confidence in its managers. Technology, industrial and raw-material companies in the S&P 500 dropped at least 6.9 percent, the most among 10 groups. Caterpillar Inc. and Alcoa Inc. retreated more than 8.4 percent after some of the world’s biggest banks -- Morgan Stanley, JPMorgan Chase & Co. and Citigroup -- slashed economic growth forecasts.
Drop Since April
The S&P 500 has fallen 18 percent from an almost three-year high on April 29 amid concern about Europe’s government debt burden and a global economic slowdown. The decline through Aug. 8 drove the index to a valuation of 12.2 times reported earnings, the lowest level since March 2009. Its price-earnings ratio is now 12.3, compared with the average of 16.4 since 1954, according to data compiled by Bloomberg.
Last week’s loss included the S&P 500’s 4.5 percent retreat on Aug. 18 amid speculation that European banks lack sufficient capital. Lars Frisell, the chief economist at Sweden’s financial regulator, said it won’t take much for interbank lending to freeze. The market also declined after U.S. jobless claims rose, Philadelphia-area manufacturing shrank by the most since 2009 and hopes for more stimulus from the Federal Reserve receded.
‘Dangerously Close’
The Morgan Stanley Cyclical Index of companies most-tied to economic growth lost 10 percent last week, extending its loss since July 22 to 26 percent and falling to the lowest level since Aug. 26, 2010. Morgan Stanley economists cut forecasts for global growth this year and said the U.S. and Europe are “dangerously close to recession.”
JPMorgan said the U.S. may expand less than previously projected in the next two quarters as consumer sentiment drops and the housing market fails to gain momentum. Citigroup also cut estimates for the U.S.
“We separate the economic picture from the investment picture,” Eric Teal, chief investment officer at First Citizens Bancshares Inc., which manages $4 billion in Raleigh, North Carolina, said in a phone interview. “If the economy is lackluster and stagnant, that does not imply that the stock market has to continue to decline. With valuations where they are, we find the market to be attractive. Companies are generally in good shape, and earnings growth can continue to be quite strong.”
S&P 500 Forecasts
Profit at S&P 500 companies is forecast to rise 17 percent to $99.05 a share in 2011 and 14 percent to $112.81 in 2012, according to average analyst estimates compiled by Bloomberg.
Stocks in the S&P 500 are moving in lockstep with each other by the most since at least 1990, a sign that the market’s biggest retreat in three years may not be over, according to MF Global Holdings Ltd. The average correlation coefficient between the 500 companies and the index was 0.8268 on Aug. 18, using 60 days of data, according to MF Global.
High correlation “is usually the case in a bear market, when investors are liquidating equities as an asset class,” Craig Peskin, co-head of technical analysis at the New York- based firm, wrote in an e-mail on Aug. 18. “In a bull market, when investors are differentiating, we see low or falling correlation.”
Correlation among S&P 500 stocks exceeded 0.78 twice previously, according to MF Global. After the first time, on Dec. 1, 2008, the S&P 500 declined 17 percent to a 12-year low on March 9, 2009. Correlation peaked again on July 26, 2010, when the benchmark slipped 6.1 percent over the next month, data compiled by MF Global and Bloomberg show.
Buffett Buys
Warren Buffett’s Berkshire Hathaway Inc. accelerated stock purchases on Aug. 8 as the S&P 500 sank the most since December 2008, the billionaire investor said during an Aug. 15 interview with Charlie Rose on PBS.
“I like buying on sale,” said Buffett, Berkshire’s chief executive officer. “Last Monday, we spent more money in the stock market buying than any day this year.”
History shows the S&P 500 may keep sinking. The index tumbled 16 percent between July 25 and Aug. 8. The eight declines of that size over similar amounts of time since 1928 led to additional losses averaging 17 percent, according to data compiled by Bespoke Investment Group LLC, a Harrison, New York- based research company.
Bearish wagers against global stocks at hedge funds have surged to the highest level since July 2009 as the European debt crisis and reports showing an economic slowdown cause the biggest losses in almost three years.
Hedge Fund Survey
An index of hedge fund assets from International Strategy & Investment Group dropped to 45.8 on Aug. 16, showing the most short selling in two years, down from a 2011 high of 54.2 in February. The research firm and broker-dealer surveys 35 hedge funds with about $84 billion under management every week.
“The fear factor is so high after what happened in 2008 that people are overreacting,” Eric Marshall, the director of research at Hodges Capital Management Inc., said in a telephone interview. Hodges has about $700 million in assets. “People are assuming that we are somehow in store for another great recession that would last several years, and I don’t see that.”
Hewlett-Packard tumbled 27 percent to $23.60 last week. Leo Apotheker cut sales forecasts for the third time since becoming chief executive officer in November, citing tepid demand. He’s spinning off the personal computer unit, dropping a five-month- old plan to put the WebOS mobile software on devices, and purchasing Autonomy Corp. for $10.3 billion. While aimed at helping add higher-margin products, the shifts are costly and may be time consuming, said Brian Marshall, an analyst at Gleacher & Co.
‘Greater Disarray’
“People just lost confidence in the company,” said Marshall, who is based in San Francisco and has a “buy” rating on the stock. “People are realizing the financial model is in greater disarray than they previously thought.”
Motorola Mobility Holdings Inc. surged 55 percent to $37.86. Google Inc., the biggest maker of smartphone software, agreed to buy it for $12.5 billion, gaining mobile patents and expanding in the hardware business.
Larry Page, the Google co-founder who took over as chief executive officer in April, is pushing the Web company into smartphones to take on Apple Inc.’s iPhone and gain more clout for its Android software in the wireless business.
Google retreated 13 percent, the most since November 2008, to $490.92. Apple fell 5.6 percent, the biggest weekly drop since March, to $356.03.

[admin]

Asian Stocks Swing Between Losses, Gains on Extra Fed Stimulus Speculation
By Jonathan Burgos
August 21, 2011 21:58 EDT

Asian stocks swung between gains and losses as speculation the U.S. Federal Reserve will announce further measures to stimulate the economy tempered concern that German chancellor Angela Merkel’s resistance to common euro-area bonds will prolong the region’s debt crisis.
Toyota Motor Corp. (7203), the carmaker that gets 28 percent of sales from North America, sank 1.7 percent in Tokyo after the yen touched a post-World War II record, harming the outlook for the country’s exporters. Inpex Corp., Japan’s No. 1 energy explorer, fell 1.4 percent as crude oil dropped. Newcrest Mining Ltd., Australia’s biggest gold producer, gained 2.8 percent after the price of the precious metal rose to a record.
The MSCI Asia Pacific Index gained 0.3 percent to 119.92 of 10:58 a.m. in Tokyo, having fallen as much as 0.8 percent and swung between gains and losses at least three times. About five stocks rose for every three that fell on the measure.
Stocks have fallen 14 percent in the past four weeks as investors took fright after reports showed the world’s biggest economy is slowing, sparking speculation Federal Reserve Chairman Ben S. Bernanke will signal this weekend that the central bank will begin a third-round of asset purchases to help sustain the economic recovery.
“It’s not certain to us what the Federal Reserve can say to calm people’s nerves,” Don Williams, chief investment officer at Platypus Asset Management Ltd. in Sydney, said in a Bloomberg Television interview. “Stocks are cheap but the outlook for most companies is murkier than it’s been since 2008. This period of volatility that we’re in has still got a way to play out.”
Nikkei, U.S. Futures
Japan’s Nikkei 225 (NKY) Stock Average added 0.3 percent, after swinging between gains and losses at least nine times. China’s Shanghai Composite Index gained 0.2 percent, while Hong Kong’s Hang Seng Index climbed 1.1 percent. Australia’s S&P/ASX 200 Index increased 1.3 percent.
Futures on the Standard & Poor’s 500 Index rose 0.4 percent today. In New York, the index fell 1.5 percent on Aug. 19 as the cheapest price-earnings ratios since 2009 failed to lure investors amid concern the global economy is weakening.
Companies in the U.S. probably ordered less equipment in July as concern grew that the U.S. recovery was coming to a halt, economists said before reports this week.
Bookings for durable goods excluding transportation fell 0.5 percent after rising 0.4 percent in June, according to the median forecast of 38 economists surveyed by Bloomberg News ahead of Commerce Department figures Aug. 24. Two days later, data from the same agency may show the economy grew even less in the second quarter than previously estimated.
Merkel Bond Resistance
Concern about Europe’s sovereign debt crisis also grew after Merkel said she’ll resist pressure to back common euro- area bonds as a means to solve the region’s debt crisis. Investor calls for euro bonds intensified last week as concern about the debt crisis and a weakening global economy drove European stocks to their lowest level in more than two years.
The yen touched a post World War II record high of 75.95 per dollar on Aug. 19. The yen fell to 76.64 per dollar today from 76.55 after Japanese Finance Minister Yoshihiko Noda said the government will take decisive action if needed in foreign- exchange markets as he has become “more concerned” about the currency’s appreciation. A stronger yen reduces the outlook for Japanese exporters when their overseas income is repatriated.
The MSCI Asia Pacific Index fell 13 percent this year through Aug. 19, compared with an 11 percent drop by the S&P 500 and a 19 percent decline by the Stoxx Europe 600 Index. Stocks in the Asian benchmark were valued at 12 times estimated earnings on average, compared with 11.3 times for the S&P 500 and 9.2 times for the Stoxx 600.

[admin]

Asia-Pacific
NIKKEI 225 8,735.24 +16.00
(+0.18%) 21:44
HONG KONG HANG SENG INDEX 19,535.39 +135.47
(+0.69%) 21:49
S&​P/​ASX 200 4,157.70 +55.80
(+1.36%) 22:03

[admin]

5:24 p.m. EDT 08/19/11Treasurys
    Price Chg Yield %
2-Year Note*   0/32 0.198
10-Year Note*   1/32 2.064
* at close
9:58 p.m. EDT 08/21/11Futures
  Last Change Settle
Crude Oil 83.01 0.75 82.26
Gold 1872.4 20.2 1852.2
E-mini Dow 10856 36 10820
E-mini S&P 500 1128.25 4.25 1124.00
10:08 p.m. EDT 08/21/11Currencies
  Last (bid) Prior Day †
Japanese Yen (USD/JPY) 76.92 76.55
Euro (EUR/USD) 1.4378 1.4395
† Late Friday in New York.

[admin]

Copper August 21,21:58
Bid/Ask 4.0152 - 4.0168
Change +0.0330 +0.83%
Low/High 3.9561 - 4.0216
Charts

Nickel August 21,21:57
Bid/Ask 9.7751 - 9.7928
Change +0.1551 +1.61%
Low/High 9.6199 - 9.7977
Charts

Aluminum August 21,21:55
Bid/Ask 1.0484 - 1.0510
Change +0.0056 +0.53%
Low/High 1.0424 - 1.0515
Charts

Zinc August 21,21:59
Bid/Ask 0.9899 - 0.9904
Change +0.0059 +0.60%
Low/High 0.9772 - 0.9908
Charts

Lead August 21,21:57
Bid/Ask 1.0509 - 1.0573
Change +0.0026 +0.25%
Low/High 1.0437 - 1.0573

[admin]

Japón dice obrará con decisión,no descarta ninguna medida cambio
domingo 21 de agosto de 2011 21:06 GYT Imprimir [-] Texto [+]
Por Kaori Kaneko

TOKIO (Reuters) - Japón dijo el lunes que tomará medidas decisivas contra cualquier medida especulativa en el mercado cambiario, en una señal de la intención de Tokio de intervenir para contener una escalada del yen, que llegó a un máximo histórico frente al dólar.

El ministro de Finanzas, Yoshihiko Noda, dijo que vio que las recientes alzas del yen eran más en una dirección que antes y que Tokio intercambiaría información de cerca con otros países sobre el sistema cambiario.

"Seguiremos a los mercados más de cerca que antes para ver si hay actividades especulativas. No descartamos ninguna medida y tomaremos acciones decisivas cuando sea necesario", dijo el funcionario a periodistas.

Noda reiteró que el Gobierno trabajará de cerca con el banco central para apoyar la economía.

Tokio intervino de forma unilateral en el mercado cambiario y alivió su política monetaria el 4 de agosto.

Pero las medidas no frenaron a los inversores de refugiarse en el yen a la hora de buscar activos seguros, lo que llevó al dólar a un mínimo histórico de 75,95 yenes el viernes.

El dólar ahora se negocia a cerca de 76,85 yenes debido a que las expectativas de una intervención cambiaria frenan la caída de la moneda estadounidense.

El Gobierno podría intervenir unilateralmente de nuevo si la apreciación del yen se acelera.

El Banco de Japón está listo para apoyar cualquier medida y consideraría aliviar su política monetaria, posiblemente antes de su próxima reunión en septiembre, si la escalada del yen golpea tanto a la bolsa como para afectar la confianza, dijeron fuentes familiarizadas con el pensamiento de la entidad.

[admin]

Oro sube a máximo histórico por preocupaciones sobre economía
domingo 21 de agosto de 2011 21:18 GYT Imprimir [-] Texto [+]
SINGAPUR (Reuters) - El oro al contado subía más de un 1,4 por ciento en las primeras operaciones del lunes y alcanzaba un máximo histórico de 1.878,39 dólares la onza, impulsado por temores a una nueva recesión en Estados Unidos y a la crisis de deuda en la zona euro.

El oro en Estados Unidos saltaba un 1,6 por ciento, a un récord de 1.881,9 dólares la onza.

(Reporte de Rujun Shen. Editado en español por Mónica Vargas

[admin]

Los insurgentes de Libia entran a Tripoli.

[admin]

El Nikkie +0.19%, Australia +126%., Korea -0.04%, el Shanghai C. +0.44%, el Hang Seng +0.93%. Hay especulacion de que el Fed usara otra ronda de estimulo tiene a los futures al alza y a las bolsas del Asia al alza.

+30

El yen sin cambio, Japon intervendra para bajar su moneda.

Euro down 1.4371

[admin]

Mi respuesta a Buffett y Obama
Antes de que me pidan mas dinero en impuestos, gasten primero los $2.2 trillones que cobran todos los anios de manera mas productiva e inteligente.

A traves de los anios, yo he pagado una cantidad significativa de mis ingresos en varios tipos de impuestos: federales, estatales y localidades donde he vivido, y estoy profundamente resentido con Obama quien ha decidido que no necesito todo el dinero que he pagado en todos estos anios, o que he debo dejar menos a mi familia y darle mas a el para gastar el dinero como el quiere. Estoy tambien resentido con Warren Buffett y otros que han creado masivas cantidad de dinero para ellos y piensan que estoy engreido por el gobierno por que ellos piensan que debo pagar mas en impuestos. Yo ciertamente no me siento "engreido" por el gobierno no me ha cobrado mas impuestos, por que despues de todo, ese dinero me lo he ganado yo.

Ahora que tengo 72 anios, yo puedo mirar al futuro y pagar una cantidad significativa de la riqueza que he acumulado en impuestos de muerte al gobierno federal, y dependiendo del estado donde viva en el momento que me muera, a ese estado tambien. De lo que yo he ganado este anio, voy a pagar entre 80% y 90% de impuestos federales, estatales, social security, medicare, impuestos federales y del estado. Es que eso no es suficiente?

Otros pueden pagar mas impuestos si asi lo desea. Ellos pueden voluntariamente escribir un cheque y mandarlo o pueden pedir que los cheques que dan a sus obras de caridad sean despues de pagar impuestos y no deducibles de impuestos. Ellos tambien pueden pagar mas impuestos en lugar de ponerlo en fundaciones para evitar pagar impuestos a las ganancias de capital e impuestos de muerte.

Lo que mas me molesta de toda esta discusion son dos cosas: lo injustamente que los impuestos son recolectados, y la violacion del contrato social implicito entre yo y mi gobierno de que mis impuestos seran gastados - efectivamente y eficientemente - en las cosas generales que el pais encesita. Antes de llamarme tacanio o ambiciosos, fijense bien como gastan los impuestos.

Hoy dia, los que mas ganan: los 250,000 americanos que ganan mas de $1 millon o mas-pagan el 20% de todos los impuestos a los ingresos, y el 3%, los que ganan mas de 200,000 pagan casi la mitad. Casi la mitad de todos los que reportan ingreso no pagan nada de impuestos, cezo. Ellos deberian pagar algo al gobierno ya que reciben sus beneficios.

Adicionalmente, el extraordinariamente compleojo codigo de impuestos esta repleto de favores a grupos de interes e industrias particulares, favores que los politicos dan para conseguir poder y votos. Las deducciones a las hipotecas apoyan al sector vivienda a costa de los que alquilan las casas. Los otros beneficiso generosos que no son sujetos a impuestos, para apoyar a lso sindicatos y a lso trabajadores del gobierno a costa de los demas americanos que compran su propio seguro con dierno despues de pagar impuestos. Los regalos a las obras de caridad que son deducibles de impuestos y los regalos a los nietos que no lo son. Esa es solo una pequenia lista de lo que no es justo con el codigo de impuestos.

El gobierno tiene la obligacion de gastar nuestro dinero en programas que funcionan. Ellos fracasan en ello. Realmente encesitamos docenas de programas de reentrenamiento sin medida de su resultado o rendimiento? De verdad necesitamos gastar el dinero en esos paneles solares, paneles de viento y carros a pileas cuando tenemos tanta energia en este pais? De verdad necesitamos toda esa regulacion que le va a costar al pais $2 trillones a la economia y le va a subir el precio a todas las cosas que compramos? De verdad necesitamos subsidios para los agricultores de azucar y productores de ethanol?

Por que requerimos que los proyectos publicos paguen a empleados que cobran mas de lo que realmente cuesta en el sector privado? Por que gastamos billones en trenes que no necesitamos en lugares donde nadie vive? Por que subsidiamos pequenios aeropuertos en comunidades cercanas a otras mas grandes? por que pagamos a los trabajadores del gobierno sueldos mayores a los que se pagan en el sector privado y les damos mas beneficios de los que se otorgan en el sector privado? De verdad necesitamos un departamente de energia y uno de educacion?

Aqui va mi mensaje" ANTES DE QUE ME PIDAN MAS DINERO EN IMPUESTOS A MI Y OTROS, PRIMERO GASTA LOS $2.2 trillones de manera mas equitativa e inteligente. Despues, Uds. necesitaran menos de mi dinero.

Mr. Golub, a former chairman and CEO of American Express, currently serves on the executive committee of the American Enterprise Institute.



My Response To Buffett And Obama
Before you ask for more tax money from me, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely

By HARVEY GOLUB
Over the years, I have paid a significant portion of my income to the various federal, state and local jurisdictions in which I have lived, and I deeply resent that President Obama has decided that I don't need all the money I've not paid in taxes over the years, or that I should leave less for my children and grandchildren and give more to him to spend as he thinks fit. I also resent that Warren Buffett and others who have created massive wealth for themselves think I'm "coddled" because they believe they should pay more in taxes. I certainly don't feel "coddled" because these various governments have not imposed a higher income tax. After all, I did earn it.

Now that I'm 72 years old, I can look forward to paying a significant portion of my accumulated wealth in estate taxes to the federal government and, depending on the state I live in at the time, to that state government as well. Of my current income this year, I expect to pay 80%-90% in federal income taxes, state income taxes, Social Security and Medicare taxes, and federal and state estate taxes. Isn't that enough?

Others could pay higher taxes if they choose. They could voluntarily write a check or they could advocate that their gifts to foundations should be made with after-tax dollars and not be deductible. They could also pay higher taxes if they were not allowed to set up foundations to avoid capital gains and estate taxes.

View Full Image

Bloomberg News
.What gets me most upset is two other things about this argument: the unfair way taxes are collected, and the violation of the implicit social contract between me and my government that my taxes will be spent—effectively and efficiently—on purposes that support the general needs of the country. Before you call me greedy, make sure you operate fairly on both fronts.

Today, top earners—the 250,000 people who earn $1 million or more—pay 20% of all income taxes, and the 3% who earn more than $200,000 pay almost half. Almost half of all filers pay no income taxes at all. Clearly they earn less and should pay less. But they should pay something and have a stake in our government spending their money too.

In addition, the extraordinarily complex tax code is replete with favors to various interest groups and industries, favors granted by politicians seeking to retain power. Mortgage interest deductions support the private housing industry at the expense of renters. Generous fringe benefits are not taxed at all, in order to support union and government workers at the expense of people who buy their own insurance with after-tax dollars. Gifts to charities are deductible but gifts to grandchildren are not. That's just a short list, and all of it is unfair.

Governments have an obligation to spend our tax money on programs that work. They fail at this fundamental task. Do we really need dozens of retraining programs with no measure of performance or results? Do we really need to spend money on solar panels, windmills and battery-operated cars when we have ample energy supplies in this country? Do we really need all the regulations that put an estimated $2 trillion burden on our economy by raising the price of things we buy? Do we really need subsidies for domestic sugar farmers and ethanol producers?

Why do we require that public projects pay above-market labor costs? Why do we spend billions on trains that no one will ride? Why do we keep post offices open in places no one lives? Why do we subsidize small airports in communities close to larger ones? Why do we pay government workers above-market rates and outlandish benefits? Do we really need an energy department or an education department at all?

Here's my message: Before you "ask" for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. Then you'll need less of my money.

Mr. Golub, a former chairman and CEO of American Express, currently serves on the executive committee of the American Enterprise Institute.

[admin]

Mis saludos a Mr. Golub por tener el coraje de enfrentarse al poderoso gobierno de Obama.

[Luis04]

Excelente articulo de Mr Golub. Ahora ya sabemos porque el sinverguenza de el Oraculo de Warren dono tanto dinero para sus fundaciones, porque de esa manera sus hijos podran seguir disfrutando de los miles de millones cuando se muera bajo la argucia de hacer el bien a personas que necesitan de ayuda en el mundo. Lo peor que este tipejo convencio a Gates y otros mas a hacer lo mismo, crear fundaciones para pagar menos impuestos, porque mejor no le da su dinero a Obama para que lo gaste en sus proyectos sociales o en mantener a toda esa gente que no busca trabajo y solo hace colas todos los meses para cobrar sus cheques, que dificil sera cambiar todo eso, porque la gente ya se siente con derecho a recibir esos subsidios y el dia que quieran cambiar eso se levantaran y zapatearan como los griegos, ingleses y todos los demas. Ojala nunca suceda eso en nuestro pais.