Occupy Wall Street Thread Reposted

So, although I think the income inequality is too great, the only way to change it is to get the end users to stop using the product.

Plenty wrong with the big guys, plenty wrong with the little guys as well.

Eliminate the estate tax

cute movie stars, high school dropout ball players, gansta rap singers

On August 3, 2009, Bank of America agreed to pay a $33 million fine, without admission or denial of charges, to the U.S. Securities and Exchange Commission (SEC) over the non-disclosure of an agreement to pay up to $5.8 billion of bonuses at Merrill. The bank approved the bonuses before the merger but did not disclose them to its shareholders when the shareholders were considering approving the Merrill acquisition, in December 2008.

In 2010, the bank was accused by the US federal government of defrauding schools, hospitals, and dozens of state and local government organizations via misconduct and illegal activities involving the investment of proceeds from municipal bond sales. As a result, the bank agreed to pay $137.7 million, including $25 million to the Internal Revenue service and $4.5 million to state attorneys general, to the affected organizations to settle the allegations.

During 2011, Bank of America began conducting personnel reductions of an estimated 36,000 people, contributing to intended savings of $5 billion per year by 2014.

Bank of America received $20 billion in the federal bailout from the U.S. government through the Troubled Asset Relief Program (TARP) on January 16, 2009, and also got a guarantee of $118 billion in potential losses at the company.[75] This was in addition to the $25 billion given to them in the Fall of 2008 through TARP. The additional payment was part of a deal with the US government to preserve Bank of America's merger with the troubled investment firm Merrill Lynch.

In October, 2009, at the suggestion of Kenneth Feinberg, the U.S. Treasury's special master for compensation, Lewis decided to forgo salary or bonus in 2009. His 2008 salary was about $1.5 million. "He has taken home $148.8 million from cash and stock sales since taking over the bank in 2001, according to Equilar, a compensation research firm. He is also leaving with more than $135 million in retirement benefits, including the pension and $10 million in life insurance benefits, according to an analysis of corporate filings by James F. Reda & Associates, an independent consulting firm."

the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due...the properties exchanged must be held for productive use in a trade or business or for investment.

For deaths occurring in 2010, up to $5,000,000 can be passed from an individual upon his or her death without incurring estate tax