Bush Treasury Secretary On The Bush Tax Cuts

[spiritual_gunfighter]

Run time: 01:57 https://www.youtube.com/watch?v=4BW6LHItM4I   Posted on YouTube: August 09, 2010 By YouTube Member: ThinkProgress2 Views on YouTube: 30   Posted on DU: August 09, 2010 By DU Member: spiritual_gunfighter Views on DU: 1515

 
Paul O'Neill talking about why he got fired.

[Liberal_Stalwart71]

1. Paul O'Neill is a true American hero. He was the only one in the Bush Administration who stood up

to Bush lies!!

Forget Colin Powell. He was too cowardly to expose the *entire* truth!

[Quixote1818]

6. I agree. nt

[Enthusiast]

8. Me too. nt

[Hawkowl]

9. +1

[bulloney]

2. These millionaire anti-tax zealots on the media seem to think government and society can operate

on nothing.

These are the same people who tend to make greater use of the local, state and national infrastructure than lower and middle class citizens just by virtue of their wealth. They travel more for business and pleasure. They have larger homes and in some cases, several larger homes that require the extension of infrastructure and use of utilities. Their larger bank accounts require greater FDIC protection. And the list goes on.

I take the claim that these people create jobs with their wealth with a grain of salt. If they do create jobs, it's a by-product, not the primary reason they create or expand businesses. They need to hire labor in order for them to make money. If they can make this money without hiring labor, they'll do it.

If you don't have a redistribution of wealth, you eventually end up with a feudalistic society of haves and have-nots. And historically, that's not been a pleasant society to live in.

[denimgirly]

3. "I paid $85 million in taxes" -- wow i am in the wrong business.

The man's loaded!!

[existentialist]

12. He was CEO of ALCOA

This company's practices caused some environmental problems. It's difficult to reduce aluminum to elemental aluminum metal without leaking highly toxic fluoride compounds--that and using vast amounts of electricity.

[demi moore]

4. the republicans job

is to start wars, not pay for them. that's your job.

[florida08]

5. the wrong question?

Right now it's the right question. We're not going to get IRS reform that isn't bias to the top of the food chain. Why is it that most of the wealthy (not all) but most don't want to pay anything when they're raking in gazillions by hook and crook? JP Morgan got almost 1.4 billion tax refund this year and got a 25 billion bailout in '08.

A little-known provision in a November addition to the 2009 stimulus bill allows companies to apply losses from 2008 and 2009 to taxes paid up to five years ago, expanding the usual two-year limit. The "net operating loss carryback" extends the timeframe into years when companies were profiting and had to pay in each tax season....

More than 250 companies have applied for tax refunds thanks to the loss carryback provision, which the Joint Committee on Taxation estimated would give back $33 billion to companies in its first year. The tax break encouraged some companies to take intentional hits in 2009, according to The Wall Street Journal...

KB Home sold land at a loss last year but pocketed a $192 million refund.

http://moneymorning.com/2010/03/24/jpmorgan-tax-refund/

End the Bush tax cuts..am sick of the middle class footing all the bills and their damn tax cuts.
(edited to remove a 0 that shouldn't have been there)

[Enthusiast]

7. K&R! nt

[Ready4Change]

10. His book "The Price of Loyalty" is a revealing read.

Co-authored with Ron Suskind, it puts a lot of the actions by the Bush administration into a light that is pretty damning.

[existentialist]

11. The Price of Loyalty

I read O'Neill's book ("The Price of Loyalty"). O'Neill had a measure of honesty, but he was, and presumably still is deeply conservative.

Still, if more conservatives had his measure of honestly we could at least have civilized conversations with them.

[Liberal_Stalwart71]

13. John Dean, Andy Sullivan are the only two that I can think of right now. n/t