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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (33667)	2/4/2010 9:32:53 PM
From: Robohogs	3 Recommendations Read Replies (2) \| Respond to of 52153

POLITICAL RANT WARNING Reflecting on Clive Crook's article, I probably agree that I think it may take a quasi-bankrtupcty to fix the US spending and taxing problem. I just do not see the politicians of both parties slowing spending, caused mainly by Bush Jr. in the 8 years before Obama never vetoing one spending bill while increasing non-discretionary spending at the fattest rates ever. Add the stimulus bills to that and things are exploded very high before any freeze, which Congress, anyhow, will not allow. Add to that, an ability to ration healthcare or fix the spending system there as we have just witnessed. Add to that an inability to halt military spending and a rising interest bill and a refusal to raise FICA taxes or means-test Social Security and/or raise retirement ages, and BOOM!!!! This is not the fault of Democrats or Republicans, but BOTH. And this is why Americans are so angry. This is what is driving the populist rage. But it is interesting because if you took votes on everything from the public, you would end up with lower taxes for the middle class and a 100% tax on the richest with even higher taxes. So maybe the Dems are correct - you have to pass healthcare over the public's objections because the public does not know best - one of the main factors by the way behind the US form of government: representational democracy. Not a democracy but a representational democracy. The founders did not trust the public with major decisions but trusted an elite to make the major decisions. If only they could see how corrupt the process has become, although taking public votes would likely be worse. As I see it from my own unique combination of beliefs (having voted both Democratic and Republican many times over the years - something I honestly believe most here and elsewhere have not done), we need to do the following things: 1. Phase in higher retirement ages with benefits indexed to inflation only and not level of wages more generally. 2. Means test Social Security. 3. Pass comprehensive healthcare reform but not in form presented now: Force everyone to buy catastrophic coverage with mandates (you can do more if you want) but cap any family's out-of-pocket expenses (including all items: premiums, deductibles, co-pays, whatever) at 10-12% of income with payments from the government reimbursing above those levels. Also, tax cadillac plans and institute tort reform. Also, form a US style NICE to help reform formulary processes and control drug prices. Institute government negotiation of drug prices for federal buying. Ideally, remove tax incentives for workplace insurance - but replace with deductibles/credits - this would remove cadillac tax need. 4. US$2 per gallon gas tax - increase green spending and infrastructure spending as well as reduce deficits. 5. 5-10% national VAT with rebates to poor 6. Change in personal income tax laws: Raise top tax rate to 45-50% for those above a million dollar (and I mean a million, not half a million as proposed in the House healthcare bill); changes in rates and exemptions such that current 40% not paying taxes becomes 20-25%; ideally removal of deductions for home interest replaced by bringing rates down including the 45-50% rate above 7. Reduced corporate tax and eliminated capital gains, dividend and interest income taxes 8. Eliminated AMT system replaced by a new AMT which effectively forces some taxes to be paid on those only receiving items described in (7) - maybe at 15-20%? 9. Reform PE/hedge fund income to be regular income not capital gains. Reform financial system such that those paying more bonuses, measured in $$$$, have significantly higher capital ratio requirements. I expect I probably have pissed off everyone off all politican pursuasions but the above is my prescription for what ails us. Jon

To: Robohogs who wrote (33667)	2/4/2010 9:50:07 PM
From: Robohogs	Respond to of 52153

Another interesting article on the costs of tax policy incentives: washingtonpost.com Jon