The doctor’s log is recommending some new policies.
I want [President Obama] to institute a 90% inheritance tax on everything over $500k. I want him to redefine capital gains as earned income (35% tax) AND double the tax rate on it.
Social Security is “failing”? Well then, let’s boost it. No more cap on earned income. In fact, let’s double corporate contributions from 6.2% to 12.4%.
I want him to boldly grab his sack and say, “No more bailouts.” I want him to strap-on a titanium-steel spine and, when a bank fails, announce the Feds will nationalize it, stabilize the situation (i.e., prevent foreclosures), and wind it down to a nice cushiony landing. The rank and file will get nice fat bonuses for sticking around to the end. Also, EVERY SINGLE OFFICER of said bank (going back 3 years)—including every member of the board—will need to find a new career, ’cause they’re barred forever from holding any officer or board position at any other publicly-traded bank or financial institution. Also, they’ll get 1/2 pay and no bonuses, regardless of their “contracts.” You wanna play with other people’s money and wreck lives? Feel some pain.