Forum Post: Gaming the System, Just Capitalism, Corruption, Product of Too Many Lawyers, No Limit to Compensation
Posted 10 years ago on May 15, 2013, 10:22 a.m. EST by Middleaged
This content is user submitted and not an official statement
Capitalism or Conspiracy. Sounds like a board game, right?
US Justice System in effect has created many Industries since there are few Standardized, Detailed, US Business Models, Restrictive Intellectual & Copy Right, Property Rights, Few Protections in Transparency for Investors, Few absolutes in GAAP Accounting Rules, No limit on Shell Companies, No enforcement of or Requirements for Corporate Tax and Executive Compensation Off Shore, No Requirement for Payroll deductions Off Shore, No Restrictions on Overhead written off of Revenues, No Streamlining of Income Taxes, No Alternative Minimun Tax on Wealthy Income Brackets, No Restrictions on Lobbying, Campaign Contributions, and Gifts to Congressmen. By the 1980s there was a crack down on write off of Lunches, Dinners, Entertainment, and Strip Bar Bills on Corporate Tax Bills.... but this doesn't seem to apply to Wall Street and Congressional Gifts.
Look at all these Industries and Jobs created out of "Gaming" the System and Courts:
- Tax Accountant Industry
- Tax Lawyer Industry
- Lobbyist Industry in Washington DC, K Street & All
- Foreign Lobbying, Foreign Government Lobbying
- PAC, Think Tank, Foundations Industry
- Secret regulator Industry through revolving Door, offer of jobs, favors, trust Accounts, Deferred Compensation through special corporate Trust, Investments, Mortgages at special Rates, offers for Government Posts in the Future, Crony Capitalism
- Secret Financial Industry, Private Banking, Hidden & Expensive Compensation that is complicated enough to hire additional financial managers, Choosing Winning Trades in Stock Markets to Reward Congress or other Insiders as compensation or in return for Political Favors in the future
- Teams of Lawyers to Fight for Corporations in Court, Strategize for Industry, Influence Universities & Associations, and to Influence Seated Judges, Court Circuits, and the Supreme Court
- Teams of Financial Managers to approach all Union and Public Pensions and Retirement Funds, as well as Health Insurance, Dental Insurance, Life Insurance, Long Term Care Insurance, Auto & Home Insurance
- Lawyers to Deregulate and Strengthen Bankruptcy Laws against consumers, credit law, Cut Worker Rights, Cut Union Rights, Keep Interest Rates High against consumers
- Lawyers to Privatize Commons, Destroy Social Security, Destroy Medicare, Destroy Progressive Legislation
- Lobbyists to take us to War, and Fund Defense, Security, and Prisons, last big win was DHS creation, which created a whole industry all at one time
- Corporate Lobby Industry to coordinate with Europe, Asia, and Latin America on Treaties to instill corporate Values and Proprietary Rights, as well as Neoclassical, Neoliberal Economic Policies to keep central banks and lower class that will work at low wages
Well lots of Industry has been created in the US where we have so much money. And we enable the spending of money by allowing unlimited executive compensation without effect or notice by Corporate Ratings Agencies. We enable the "Gaming" of Income Tax, Corporate Tax, Lobbying, and Capture of our Institutions by allowing unlimited write off of Wages & Compensation of Lawyers, Lobbyists, Financial Managers, and Accountants.
Let's Impose a Tax on the number of nonproductive employees that "Game" the System and or the Contract Money spent to "Game" the system. Lawyers, Lobbyists, Financial Managers, and Accountants.
Or let's put restrictions & Ceilings on the total number of employees as a percentage of productive activity within an organization Lawyers, Lobbyists, Financial Managers, and Accountants.
Or let's put restrictions on the total resources and or employees put on in corporate civil lawsuits, fighting the SEC or Regulators, or Criminal Prosecution against the company, either defensive or offensive ... as these tie up the court system, strain public resource, cost public money ... and they can be a huge advantage in Courts, Federal or State Courts ... one way might be a Tax, maybe a Ceiling on Total Employees or Dollars Spent, or Prohibit the Write off of Taxes through Claim of Normal Expenses to come out of Revenues.
Everyone know we should Reform the Corporate Ratings Agencies. Remember when the United Way or March of Dimes had the Scandal in the 1970s for having huge over 60% Administrative Costs. And that was a Charity.
Now the Ratings Agencies sell ratings to corporations. If we take away the ability to sell ratings or organizations to give money of any kind to the organizations Rating them... then let's Rate Corporations, Bonds, Stocks, by including demerits for having shell companies, off shore headquarters, ... complicated organizations to avoid taxes, ... and having TOO MUCH Overhead to Game the System, Too Much Compensation for Executives, having over 50:1 ratio for CEO to worker compensation, ... and having little Transparency
Well, Let's hear some Solutions. I'm sure someone is reading these posts for solutions
Hey, Loneranger, these may just be Corruption and Racketeering. I know your post is about Conspiracy. Any thoughts here? The thing is None of the Industry Jobs listed above adds to the US Economy, US GDP, or adds anything "Patriotic" to the USA. We would not miss anything by limiting the number of Lawyers or others "Gaming" the System.