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<blockquote data-quote="SeniorGeek" data-source="post: 185092" data-attributes="member: 4823"><p>It appears his point is going to be that government-supplied economic incentives are prone to abuse, and he says something to that effect:</p><p>...but then I read that the author, Mark Pribonic, is an Investment Banker. <strong>I smell hypocrisy.</strong></p><p> </p><p>He works for a business that pays half the tax rates that we who <u>work</u> for a living pay. (Now that I am Management, many may think I do not work. But I still pay taxes as if I had worked for my income.<img src="/community/styles/default/xenforo/smilies/smile.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /> )</p><p> </p><p>Maybe he narrowly defines "subsidy" as direct payments from the government. If that is the case, "energy development" is a bad example, since <u>most</u> energy subsidies are tax offsets or credits. </p><p> </p><p>On second thought, when he criticizes subsidies for "energy development", he is probably not talking about the tax bonanza that goes to the oil companies. He is probably referring to those research programs that might help us find ways to reduce our dependence on foreign oil (and our dependence on giant oil companies).</p><p> </p><p>I am not saying that Investment Banking firms are inherently evil. For example, Goldman Sachs shows concern about the environment by sending its bankers home each night in hybrid limousines. (I could not confirm whether they ride <em>to</em> work each morning in turbojet helicopters.)</p><p> </p><p>Looking at some of Pribonic's other writing, I find that this same fat-cat author apparently wants to take away my parent's Social Security, and stop government subsidy of company or union retirement plans that are underfunded or suffer from mismanagement. Or I may be reading too much into what he says...</p><p>Isn't that what they once said about slaves?</p></blockquote><p></p>
[QUOTE="SeniorGeek, post: 185092, member: 4823"] It appears his point is going to be that government-supplied economic incentives are prone to abuse, and he says something to that effect: ...but then I read that the author, Mark Pribonic, is an Investment Banker. [B]I smell hypocrisy.[/B] He works for a business that pays half the tax rates that we who [U]work[/U] for a living pay. (Now that I am Management, many may think I do not work. But I still pay taxes as if I had worked for my income.:) ) Maybe he narrowly defines "subsidy" as direct payments from the government. If that is the case, "energy development" is a bad example, since [U]most[/U] energy subsidies are tax offsets or credits. On second thought, when he criticizes subsidies for "energy development", he is probably not talking about the tax bonanza that goes to the oil companies. He is probably referring to those research programs that might help us find ways to reduce our dependence on foreign oil (and our dependence on giant oil companies). I am not saying that Investment Banking firms are inherently evil. For example, Goldman Sachs shows concern about the environment by sending its bankers home each night in hybrid limousines. (I could not confirm whether they ride [I]to[/I] work each morning in turbojet helicopters.) Looking at some of Pribonic's other writing, I find that this same fat-cat author apparently wants to take away my parent's Social Security, and stop government subsidy of company or union retirement plans that are underfunded or suffer from mismanagement. Or I may be reading too much into what he says... Isn't that what they once said about slaves? [/QUOTE]
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