Wayne Kramer, 1996 live...
Mojo Magazine rated him as the 66th greatest rock guitarist of all time, but
Mr. Kramer has always been an inspiration to me and an old buddy since the
Mid 1960's....
17th Century English Debtors Prison by William Hogarth |
FOR IMMEDIATE RELEASEOutraged homeless muppets to converge on Goldman SachsNEW YORK, April 21, 2012 — Homelessness is a great American tragedy. Our financial system and government have let us down and we, together, must take a stand to change the way the system works. With over 11 million homes underwater and millions in foreclosure, people are frightened, distressed and angry.Although not a cure, Mobile Homeless Homes (MHH) offers a temporary solution — low cost alternative living spaces for the millions of upside-down, underwater or foreclosed homeowners who have lost their houses due to the banking crisis that caused the real estate collapse. The MHH centerpiece is a camouflage, stealth, mobile home made from a series of connected plastic garbage cans, propelled by a tricycle, that will be undetectable by authorities. It blends into any urban environment.Designed by artist Joey Skaggs, this Trojan house has been created to focus attention on the disastrous effects of government deregulation on the welfare of the general public and to underscore the fact that people are not powerless to create change; that people should not be afraid to use their First Amendment rights to denounce actions they believe are unethical and criminal.On Monday, April 23, 2012 beginning at 11:00 a.m. at 287 Spring Street (between Varick and Hudson) in New York City, Skaggs will parade his Mobile Homeless Homes prototype down to Goldman Sachs. He will be accompanied by his troupe of costumed muppets including the Fresh Juice Party band, performing their original “Mobile Homeless blues” ballad (lyrics). They will head from Spring Street to West Street and then down West Street to Goldman Sachs at 200 West Street. Other targeted sites will be announced at a later date on the MHH website.Goldman Sachs has been selected as the destination for the MHH debut as it is one of the primary companies responsible for causing the housing crisis. The muppets are there to help hold them accountable, because Goldman Sachs employees commonly have disrespectfully referred to their clients as muppets. The word muppet in British slang is a derogatory term commonly used to mean idiot or loser.“I’m not a bank regulator. I’m not a legislator. I’m not a politician. I’m an artist. I believe it’s my responsibility to do what I can to bring attention to the issues and inspire our lawmakers to make the critically necessary changes to protect the public from greed and fraud,” says Joey Skaggs.The MHH performance has been designed to be a fully legal public expression of individual rights. With the current rash of arrests of Occupy Wall Street protestors and the forcible removal of personal belongings from people sitting peacefully in parks, Skaggs says the MHH procession will be on the move at all times, except when waiting for street lights to change. And, since Mayor Bloomberg just the other day kissed Ms Piggy and announced that the Muppets (of Sesame Street fame) are now the official New York City family ambassadors, it might prove embarrassing if the police arrest Ms. Piggy as she exercises her First Amendment rights.For more information, contact:
Joey Skaggs, 212-254-7878
info@mobilehomelesshomes.com
http://mobilehomelesshomes.com (coming soon, check back)
So when Mitt Romney released the family’s 2010 tax return last week, folks started looking. And here it is, the hint on pages 132 and 134 of the return. It showed that the value of property placed that year into another family trust, the Ann D. Romney Blind Trust, was, for tax purposes, zero. The Ann Romney trust is not the same trust as the one that holds the Romney sons’ $100 million, but I wondered if the Romneys used the same approach in prior years when it came to valuing property placed into the sons’ trust.Reuters emailed the Romney campaign spokeswoman to ask how much the Romneys paid in gift taxes on assets put into the sons’ trust over the last 17 years. The spokeswoman, citing Brad Malt, the Romney family tax lawyer, answered: none.The idea that someone could pay zero gift taxes on contributions to a $100 million trust fund may surprise people who have heard arguments that the wealthy are overburdened by gift and estate taxes. But the Romneys’ gift-tax avoidance strategy is perfectly legal.
As we all know, much of Mitt Romney's wealth is derived from "carried interest," a share of the profits from investments that Bain Capital made while he was CEO. This income is taxed at the same 15 percent rate as ordinary capital gains, which is why Romney's tax rate is so low.But it turns out there's another interesting tidbit about carried interest that I've never heard of before: It's a great way of passing along a huge inheritance to your kids without paying any taxes. David Cay Johnston explains:Johnston: The Romneys gave $100 million to their sons and paid not one penny of gift tax. They were able to take assets they have that are producing enormous income and, under the law, give that money to their children and not pay any taxes on it.Sambolin: Is that something you specifically found in what has been released to you?Johnston: Yes. I have suspected this and written about it in my column that this is what happened, and last night, Brad Malt, the attorney for the Romneys, confirmed to Reuters that we were correct. They have not paid a penny of gift tax. That's because Congress allows a very tiny group of people—the Romneys by their income are in the top 1 percent of the top 1 percent—to not count as having any value the real source of their income, something called carried interest, if they give it to their children.