larry borsato

From StockTwits:

The word is: Ineptocracy

1. Ineptocracy
*_Ineptocracy_****(in-ep-toc’-ra-cy) – a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers*

Use in a sentence:

The occupy protesters are part of the ineptocracy movement.

Since I started reading about the Occupy Wall Street protests I’ve been amazed how well planned and organized they seemed to be. Then I started to notice other things.

I posted the other day about the Working Families Party recruiting people, possibly as protesters. The Working Families Party is also connected to SEIU.

And then I remembered reading about former SEUI official Stephen Lerner’s plan to foment civil unrest and destabilize the banking system:

We basically said you stole seventeen trillion dollars – you’ve improvised us and we are going to make it impossible for you to operate

Labor can’t lead this right now so if labor can’t lead but we are a critical part of it  we do have money we have millions of members who are furious

But I don’t think this kind of movement can happen unless community groups and other activists take the lead.

If we really believe that we are in a transformative stage of  what’s happening in capitalism

Then we need to confront this in a serious way and develop really ability to put a boot in the wheel  then we have to think not about labor and community alliances  we have to think about how together we are building something that really has the capacity to disrupt how the system operates

We need to think about a whole new way of thinking about this not as a partnership but building something new.

We have to think much more creatively. The key thing… What does the other side fear the most – they fear disruption. They fear uncertainty. Every article about Europe says in they rioted in Greece the markets went down

The folks that control this country care about one thing how the stock market goes what the bond market does how the bonuses goes. We have a very simple strategy:

• How do we bring down the stock market
• How do we bring down their bonuses
• How do we interfere with there ability to be rich

And that means we have to politically isolate them, economically isolate them  and disrupt them

It’s not all theory i’ll do a pitch.

So a bunch of us around the country think who would be a really good company to hate we decided that would be JP Morgan Chase  and so we are going to roll out over the next couple of months what would hopefully be an exciting campaign about JP Morgan Chase that is really about challenge the power of Wall Street.

And so what we are looking at  is the first week in May can we get enough people together starting now to really have an week of action in New York I don’t want to give any details because I don’t know if there are any police agents in the room.

The goal would be that we will roll out of New York the first week of May. We will connect three ideas

• that we are not broke there is plenty of money
• they have the money  - we need to get it back
• and that they are using Bloomberg and other people in government as the vehicle to try and  destroy us

And so we need to take on those folks at the same time and that we will start here we are going to look at a week of civil disobedience – direct action all over the city then roll into the JP Morgan shareholder meeting which they moved out of New York because I guess they were afraid because of Columbus.

There is going to be a ten state mobilization it try and shut down that meeting and then looking at bank shareholder meetings around the country  and try and create some moments like Madison except where we are on offense instead of defense

Where we have brave and heroic battles challenging the power of the giant corporations. We hope to inspire a much bigger movement about redistributing wealth and power in the country and that labor can’t do itself that community groups can’t do themselves but maybe we can work something new and different that can be brave enough  and daring and nimble enough to do that kind of thing.

Other than the JP Morgan component, and a little later than planned, this sounds awfully familiar, and the same parties are involved.

It just seems a bit odd and convenient.

Among other things, the Washington Post dispenses with the notion that millionaires don’t pay their fair share, or that they pay less tax than their secretaries:

In a speech on Monday, Obama said raising taxes on millionaires isn’t class warfare, but “math.” His math may be off: According to the IRS, those with adjusted gross incomes of more than $1 million paid an average of 23.3 percent in federal income taxes in 2008; those earning between $100,000 and $200,000 paid 12.7 percent; and those earning between $50,000 and $100,000 paid 8.9 percent. Nearly half of American families don’t make enough money to pay federal income taxes at all.

Why do people think millionaires pay less? One cause of confusion is that stock dividends and capital gains are taxed at a maximum of 15 percent, while regular income in their bracket is taxed at a maximum of 35 percent. The rich often earn more dividend and capital gains income than regular income, so it’s tempting to wrongly conclude, as Warren Buffet has, that millionaires “wouldn’t mind being told to pay more in taxes.” But dividends are paid out of corporate profits that have already been taxed. So Buffet’s equity earnings are doubly taxed: He pays 35 percent at the corporate level and 15 percent on his own return.

I’ve grown fairly accustomed to seeing the mainstream media misreport on a story for their own purposes, but this example by MSNBC regarding Herman Cain’s 9-9-9 plan was just to blatant to not comment on:

“The poor would pay more while the rich would have their taxes cut, with no guarantee that economic growth will increase and good reason to believe that the budget deficit will increase” Bartlett recently wrote in the New York Times. “Even allowing for the poorly thought through promises routinely made on the campaign trail, Mr. Cain’s tax plan stands out as exceptionally ill conceived.

The reason the plan would hit poor people much harder that the wealthy is also simple. The current tax code provides a series of deductions, credits and exemptions that ease the tax burden on all households, but they have a greater positive impact those at the bottom of the income ladder. As a result, some 38 percent of U.S. households pay little or no income taxes. They would now suddenly be hit with what amounts to a tax bill that represents 27 percent of their income, according to USC law professor Edward Kleinbard, who published a paper this week calling the 9-9-9 plan “a terrific example of fiscal hocus pocus.”

MSNBC has no problem writing using and linking to a 2008 study that says that 38% of US households pay little or no income tax, but seems unable to click on the “[this table has been updated, click here]” link on that very same page to get to the current 2011 version that shows that number to now be 46.5%. Just lazy, or intentionally misleading?

And then they quote a USC professor that those people would suddenly be hit with a tax bill for 27% of their income, which is simply incorrect, and they don’t even bother to analyze it. Cain’s plan calls for 9% income tax, 9% business tax, and 9% sales tax. They will pay the 9% income tax, but since these people are not businesses the 9% business tax will not apply to them. And the 9% sales tax will only be paid on items they purchase, not on all of their income. So that tax isn’t 27%; it is clearly under %18. Yes an increase, but clearly not as stated.

I’m not commenting on how effective Cain’s plan would be, but MSNBC has already decided they don’t like it, and either through intent or simple laziness, they can’t be bothered to do the basic work of presenting useful information to the reader.

Remember the days when journalists did the hard work of uncovering and reporting on the facts to inform the reader? Or did they ever?

Undoubtedly you’ve heard about the “Occupy Wall Street” protests, or the “We are the 99” movement. They seem to be everywhere in the news these days, but also seem to be far too well orchestrated and media savvy for a true grassroots movement. Could that be because they were intentionally organized? From Craigslist:

FIGHT TO HOLD WALLSTREET ACCOUNTABLE NOW! MAKE A DIFFERNENCE GET PAID!

Date: 2011-09-26, 5:09PM EDT

Reply to: job-fvgsu-2618821815@craigslist.org ^[Errors when replying to ads?^] The Working Families Party (WFP) (www.workingfamiliesparty.org) is New York’s most energetic, independent and progressive political party. Formed in 1998 by a grassroots coalition of community organizations, neighborhood activists, and labor unions, we came together to build a society that works for all of us, not just Wall Street CEOs and the well-connected. WFP is independent from corporate and government funding and in-addition we are community based; community funded and equally uninfluenced by both major parties. Our agenda focuses on economic and social justice, corporate accountability, job creation, environmental protection, and investment in education and healthcare.

For the past twelve years the WFP has been at the fore front of progressive politics,

Leading the fight and helping to frame the debate. The WFP has a proud record of fighting for issues that matter and has been instrumental in implementing key pieces of legislation such as Raising New York’s Minimum Wage, Enacting Living Wage Laws, Creating Thousands of Jobs In the Green Economy, Passing Healthcare Reforms on the Local Level, Fighting for Affordable Housing, Keeping Tuition Costs Low, A Progressive Tax Code, Reliable/Cost Effective Public Transit System, Public Financing Of Elections and Corporate Accountability . In addition, we have an unapologetic stance on supporting and pushing good candidates to enact progressive legislation

The WFP is seeking immediate hires.

You must be an energetic communicator, with a passion for social and economic justice.

Only outgoing, articulate dedicated, determined candidates will be considered for the positions.

For those candidates that qualify WFP offers substantial paid-training provided by senior leadership, on varied issues such as: advocacy, public speaking, mobilizing, fundraising, networking and organizing. We invest in passionate people with excellent communication skills and a full benefits package is offered to those candidates that qualify. In addition, there is opportunity for advancement and travel to our satellite chapters and out of state affiliates.

This is not a policy job! Through direct action you will be shaping NY state politics for the next 20 years.

If you care about New York and want to help educate and mobilize around legislative campaigns-then we look forward to hearing from you!

Apply at http://www.workingfamiliesparty.org/jobs/.

Now I don’t have any idea if  the idea here is really to pay people to protest, but it sure does seem coincidental. And the whole event does seem to be very well planned, hardly the kind of thing that forms organically.

Generally though, it strikes me as a bunch of people who want everything given to them, without any concern for the economic reality of who would pay for it.

Tip of the hat to I Hate The Media.

Jann Wenner, founder of Rolling Stone, doesn’t think that the iPad will replace traditional print magazines anytime soon:

Mr. Wenner: Not months. Decades, probably. People’s habits will shift, they’ll make improvements in the delivery system, the screen will change, it will get lighter, whatever, and new people growing up will find that as a habit. But you’re talking about a generation at least, maybe two generations, before the shift is decisive.

Look at the music industry as an example. I think it’s split about 50-50 between CDs and digital delivery. There is a place where there are extraordinary advantages in the distribution delivery system. Otherwise the products are indistinguishable; there’s no difference in the physical products as there is here.

And yet it’s still a generational shift going on. And we’re far away from that. We have a much different and more unique product than just the CD.

Mr. Wenner started Rolling Stone a few decades ago for $7,500 with volunteer labor, but now from his perspective a publishing mogul he thinks it impossible to start a magazine without millions at your disposal. His rather myopic viewpoint leads him to believe that the same thing couldn’t happen today as he achieved all those years ago. Huffington Post anyone?

He also believes that the printed magazine is much different and unique than a CD. He doesn’t get that it is just content; the delivery mechanism is meaningless. He, and many others, also don’t get the potential for tablet delivery to be so much more than printed magazine delivery.

A printed magazine is dead content. It can’t be updated or augmented. It can reference information the hasn’t been created or doesn’t exist yet. Tablet delivery is live. A tablet magazine can be corrected (transparently), and it can be updated to reference future information as it arises. Articles can reference older articles. They can be bookmarked, commented on, tagged, and shared.

Successful iPad magazines won’t just display the paper version via a different delivery mechanism. They will deliver all of the relevant information that is available. It isn’t about moving your existing paper magazine to the iPad; it is about delivering a brand new kind of experience for the platform and the medium. And they won’t take decades; they are happening now. Mr. Wenner is just so caught up in his existing business model to see that.

But someone who isn’t will see the value. Just as Mr. Wenner successfully did so many years ago.

I moved to Waterloo, Canada a few years ago from Boston. I recall hearing that there were 2000 open tech jobs in Waterloo then. And though I don’t know where those jobs are, the situation never seems to change.

2006:

Waterloo Region firms need people to fill more than 2,000 positions – jobs at Research in Motion (NASDAQ:RIMM)(TSX:RIM), maker of the world-famous Blackberry, make up almost half that demand. Canada’s most famous tech startup and tech giant has deep roots in Waterloo Region, already employing in excess of 3,000 tech workers here.

2007:

In Waterloo Region, there are 2,000 technology job vacancies at any given time, according to Communitech, the region’s technology industry group.

2009:

When we think BlackBerry, we think of Research In Motion Ltd. making billions, with thousands of employees. But in Canada’s Technology Triangle of Kitchener, Waterloo and Cambridge, 2,000 high-paying, hi-tech jobs are going begging.

2010:

Some of Canada’s hottest tech companies will head to the nation’s capital to look for talent when Communitech, the organization representing 700 tech companies in Waterloo Region, holds a ‘Get a Life in Waterloo Region’ recruitment effort there on April 21. Waterloo Region companies continue to hire at a rapid pace, and the recruitment event will profile some of the outstanding 2,000 current tech job openings available in the Region.

2011:

Good talent is hard to find and Research in Motion (RIM) along with other Waterloo tech powerhouses are hitting the road in search of their next round of hires. The companies will participate in Communitech-sponsored recruiting events in Montreal on March 21st and Ottawa on March 22nd.  Communitech represents more than 700 tech company members in Waterloo Region which currently has some 2,000 tech job openings.

Amazing, isn’t it?

It looks like come hell or high water, Waterloo Region is going to have a Light Rail Transit system, whether residents want it or not. Pretty much every option presented includes an LRT component. We are told that the majority of attendees at public information sessions were in favour. When politicians note the overwhelming opposition to LRT on doorsteps, those people are merely derided as stupid, misinformed, or misguided. The Region knows better than they do.

Why LRT? Not for transportation. It will be slower than buses. No, it is to revitalize the uptown, in which every previous attempt has failed. And to raise property value, so that more tax can be collected. Buses apparently won’t do that. Of course this is all just a gamble.

Light Rail Transit if merely the flavour of the week – just like roundabouts, nodes and corridors, and road diets. All ideas are new and hot for urban planners to try, and then discard when they fail. No problem at all, except for the massive waste of taxpayer dollars.
Kevin Libin at the National Post demonstrates some of the folly of Light Rail Transit using the oft-touted Calgary LRT. We are frequently told that LRT will eliminate the cost of building roads:

Furthermore, despite the dreams of transit planners, the system hasn’t actually gotten people to give up their cars: more people still drive downtown in Calgary than in any other Canadian city. And most transit riders, as everyone who lives here knows, simply drive to and park for free at the LRT stations and then ride the train downtown, rather than pay the $22 median “early bird” daily parking rates in the central business district. The LRT certainly hasn’t saved Calgary the pain of road building costs: the city spends the most in Canada per capita laying asphalt, 25% more than its closest rival, Edmonton, the study reveals.

And we’re told that LRT if far preferable to more flexible Bus Rapid Transit:

Bus Rapid Transit is essentially industry jargon for express buses, but has fallen out of favour with municipal politicians. The reasons, Lafleur believes, is because higher levels of government often pick up the bill for train infrastructure, letting municipal politicians “trade off higher capital costs for lower operating costs, even if the total cost is higher” and because cities often overlook, as Calgary has, the hidden costs of light rail. I think it’s just because mayors like choo-choo trains — or at least, as Lafleur points out, so many are intoxicated by visions of urban-hip “transit oriented development” built around LRT stations. These trendy communities result in higher property values, which work out nicely for city tax departments and high-income workers (the ones lucky enough to have parking spots provided for them downtown), but not so well for low-income workers, who are the ones most likely to benefit directly from transit.

It is fairly evident at this point that all information promoting the LRT is so biased as to be completely unusable in making a serious decision about transit options in Waterloo. Is it that difficult for Regional staff and politicians to actually speak honestly about transit?

However, my favorite line is that one that we need the LRT to attract skilled workers. How did we manage to attract the skilled workers that already live here without the LRT?

The largesse of government organizations, who just can’t even pretend to be concerned about frittering away tax dollars, never ceases to amaze me:

The Assistant Secretary for Indian Affairs needs someone to run the Facebook page for the Dept. of the Interior and they’ll pay up to $115,000 a year. Over at the Dept. of Defense, they’ll drop nearly 50k a year for a new mail room clerk, plus the glorious benefits that comes with government work.

If a private company ran this way, they would be bankrupt. Oh, wait…

Tip of the hat to I Hate The Media.

Over at the National Post, Kelly McParland gets it bang on:

Every day it gets a little bit harder to know when to be offended in Canada. Since being offended has become part of the national culture, with a network of human rights bodies established to ensure no one should ever be offended by anything without an opportunity to profit from it, the sheer mass of potentially offensive situations has proliferated like bunnies in spring.

That’s it. I suppose I should be offended that he was able to define it so clearly.