Barry offered some re-tread policies to carry the nation onward. All he had to do was to read posts of the past two days for real solutions, and he failed.
Of his entire package, only $50 billion was offered to infrastructure, and that was rather vague. The rest is borrowing money to invest in ... nothing. Sigh ...
Meanwhile, Bank of America [aka BofA] plans to cut 40,000 jobs. BofA already has terrible service. The one job cut that might help that company won't be announced, viz., the firing of its CEO.
The Pharisees in the Dark City continue to rule and do nothing but posture to collect money from lobbyists. The plain people deserve a new Square Deal. Where is the 21st century Theodore Roosevelt? Sigh ...
Book: I suggest the Autobiography of Theodore Roosevelt for reading. I started reading it a week ago. The book has no ghost writer, being written by the great man himself in a plain, refreshing style.
Word of the Day
"Catharsis" - noun [$10]
Catharsis means 1. an emotional release in drama or art; 2. (Psychology) the process of freeing repressed emotion by association with the cause, and elimination by abreaction; 3. (Medical) purgation.
Sentence: The quintessential achievement of catharis in drama has to be the scene in Sophocles' Oedipus the King when the truth finally is exposed to all, by the persistent questioning by Oedipus himself. Moral: some questions are best not ever asked.
Showing posts with label jobs. Show all posts
Showing posts with label jobs. Show all posts
Friday, September 9, 2011
Thursday, September 8, 2011
The Short Term Jobs Solution
America has a multi-generational opportunity now to build out its national infrastructure with ultra cheap money. And America has a multi-generational need to provide the skeleton on which private industry can grow to offer more jobs for all Americans. And America has a multi-generational need for growth that will hire more Americans for good jobs.
Not since the 1930s and 1950s has America expanded its national infrastructure. Both those investments paid off handsomely. The 1930s saw rural electrification, flood control, and parks construction that brought all America to the modern age and opened up the nation. The 1950s saw highway construction that connected and bound the nation together. After and during those periods, the incomes of the common man and woman all across America increased year after year in real growth for an entire generation.
The second decade of the 21st century should become a similar period of building national strength to support growth for the rest of the 21st century.
Here is the program.
I. Remarkably low interest rates for long term bonds can fund this program. The bonds will be paid from increased revenues that growth will provide. The US Treasury should begin selling $1 Trillion in 10 to 50 year bonds with with maturities distributed from 2022 to 2062 so as to make the cash debt service payments approximately equal every year.
II. Sell both fixed rate and TIPs.
III. Create an infrastructure super committee to choose the projects within guidelines. Committee members swear to have no conflicts of interest and must approve each project personally. Criminal penalties and personal liability will apply to any member who lies about any conflict of interest. An inspector general will review all contracts and performance.
IV. Override ALL environmental laws and prohibit any judicial interference for these projects. Decisions of the super-committee are final.
V. Request the public and private sector to submit proposals for projects, to be considered along with projects from the super committee.
VI. Project sectors: highway buildout, rail buildout, fiber optics buildout, gas and electric transmission line buildout, airport buildout, air traffic control system buildout, cell phone and wireless Internet buildout, port buildout, parks buildout, flood control buildout, etc. (software included).
VII. Objective: connect and bind all America with these systems with special attention to the small cities and rural areas, that great expanse of America that will be the regions of future growth.
VIII. Require all contracts to have fixed prices and fixed completion times. Provide bonuses for coming in on time or early and on or under budget. Put penalties on contracts that are late or over budget.
IX. Require any imported goods or services used therein to bear an excise tax equal to the proportional share of the long term cost of government divided by GDP, currently about 20%. This would be in lieu of the long term job reforms posted yesterday.
X. All projects must commence by year end, 2013. All projects must finish by year end 2021. The entire $1 trillion will be pre-funded by bond sales commencing as soon as possible.
We want a flexible national infrastructure that will work as the world makes the transition from the gasoline engine to other transportation motive forces (likely within 50 years). The infrastructure envisioned would support rail, electricity and natural gas as motive means, and would support alternatives to physical transportation by modern communication technologies and better distributrion networks.
JOBS: that $1 trillion would provide jobs for millions of construction workers and manufacturing and service industries for at least a decade. That will re-start the American economy. As this infrastructure is built-out, private industry will use it and find new needs to be met and new demand for new ideas in new industries.
Revenues from these new industries and jobs will pay for the debt service on the bonds beginning in 2022.
Cost: $1 trillion funded at 3% costs $30 billion per year in interest from 2012 under principal begins to repaid in 2022. Thereafter, the cost is $43 billion per year to pay interst and principal. This amount of debt service is easily achieved from tax revenues of new economic growth in the nation.
Hmmm ... this is rather cheap. Maybe we should consider $2 trillion. $3 trillion sounds letter. Sounds good: costs just $90-120 billion per year.
[Consider the cost of the endless Afghanistan program = about $100 billion per year]
Let's do it - a $3 trillion Build America Program!
Word of the Day
"Euergetism" - noun [$10,000] alt. spelling "Evergetism". From an ancient Greek word meaning "I do good things."
Euergetism means the practice of notables to distribute part of their wealth to the community of 'hoi polloi', rather than to individuals (clientelism).
Sentence: Let's encourage euergetism for today's billionaires: buy the long term Treasury bonds to fund the build-out of America. Do some good by making permanent investments, rather than putting all your money in Philistine hedge funds that simply trade.
Not since the 1930s and 1950s has America expanded its national infrastructure. Both those investments paid off handsomely. The 1930s saw rural electrification, flood control, and parks construction that brought all America to the modern age and opened up the nation. The 1950s saw highway construction that connected and bound the nation together. After and during those periods, the incomes of the common man and woman all across America increased year after year in real growth for an entire generation.
The second decade of the 21st century should become a similar period of building national strength to support growth for the rest of the 21st century.
Here is the program.
I. Remarkably low interest rates for long term bonds can fund this program. The bonds will be paid from increased revenues that growth will provide. The US Treasury should begin selling $1 Trillion in 10 to 50 year bonds with with maturities distributed from 2022 to 2062 so as to make the cash debt service payments approximately equal every year.
II. Sell both fixed rate and TIPs.
III. Create an infrastructure super committee to choose the projects within guidelines. Committee members swear to have no conflicts of interest and must approve each project personally. Criminal penalties and personal liability will apply to any member who lies about any conflict of interest. An inspector general will review all contracts and performance.
IV. Override ALL environmental laws and prohibit any judicial interference for these projects. Decisions of the super-committee are final.
V. Request the public and private sector to submit proposals for projects, to be considered along with projects from the super committee.
VI. Project sectors: highway buildout, rail buildout, fiber optics buildout, gas and electric transmission line buildout, airport buildout, air traffic control system buildout, cell phone and wireless Internet buildout, port buildout, parks buildout, flood control buildout, etc. (software included).
VII. Objective: connect and bind all America with these systems with special attention to the small cities and rural areas, that great expanse of America that will be the regions of future growth.
VIII. Require all contracts to have fixed prices and fixed completion times. Provide bonuses for coming in on time or early and on or under budget. Put penalties on contracts that are late or over budget.
IX. Require any imported goods or services used therein to bear an excise tax equal to the proportional share of the long term cost of government divided by GDP, currently about 20%. This would be in lieu of the long term job reforms posted yesterday.
X. All projects must commence by year end, 2013. All projects must finish by year end 2021. The entire $1 trillion will be pre-funded by bond sales commencing as soon as possible.
We want a flexible national infrastructure that will work as the world makes the transition from the gasoline engine to other transportation motive forces (likely within 50 years). The infrastructure envisioned would support rail, electricity and natural gas as motive means, and would support alternatives to physical transportation by modern communication technologies and better distributrion networks.
JOBS: that $1 trillion would provide jobs for millions of construction workers and manufacturing and service industries for at least a decade. That will re-start the American economy. As this infrastructure is built-out, private industry will use it and find new needs to be met and new demand for new ideas in new industries.
Revenues from these new industries and jobs will pay for the debt service on the bonds beginning in 2022.
Cost: $1 trillion funded at 3% costs $30 billion per year in interest from 2012 under principal begins to repaid in 2022. Thereafter, the cost is $43 billion per year to pay interst and principal. This amount of debt service is easily achieved from tax revenues of new economic growth in the nation.
Hmmm ... this is rather cheap. Maybe we should consider $2 trillion. $3 trillion sounds letter. Sounds good: costs just $90-120 billion per year.
[Consider the cost of the endless Afghanistan program = about $100 billion per year]
Let's do it - a $3 trillion Build America Program!
Word of the Day
"Euergetism" - noun [$10,000] alt. spelling "Evergetism". From an ancient Greek word meaning "I do good things."
Euergetism means the practice of notables to distribute part of their wealth to the community of 'hoi polloi', rather than to individuals (clientelism).
Sentence: Let's encourage euergetism for today's billionaires: buy the long term Treasury bonds to fund the build-out of America. Do some good by making permanent investments, rather than putting all your money in Philistine hedge funds that simply trade.
Wednesday, September 7, 2011
The Long Term Job Solution
The problem that America has with lack of jobs needs both a short term and a long term solution. Below is the long term solution that Barry should propose tomorrow night. He won't. He's part of the problem and seems to have no vision for the future of America.
The Job Solution - Long Term
Stop taxing jobs. That means no more taxes paid on employment income for Social Security, Medicare, unemployment benefits or any other direct or indirect tax on jobs. This will lower the cost of hiring people significantly.
Eliminate the connection between health care and jobs. Tying health care to a job is a Faustian bargain: one loses a job and health care and the same time – horribly risky for people. Those silver chains both increases the cost of employment enormously and prevents people from moving to either better jobs or starting their own businesses.
Social Security, Medicare, all other job taxes AND a new National Shared Heath Care Benefit should be funded by a new Value-added or Sales tax on goods (especially imported goods) and many services (especially imported services). Consumers of imported goods and services now get a free ride. Nothing embedded in the value of imported goods & services helps fund the government or provides benefits to American workers. Shifting the funding for all those programs will make consumers of imports pay a fair share to support the New American System. See The Tax Solution for more details. In this New American System, cost of employing Americans in America will be far, far less.
Eliminate all tax subsidies for equipment and machinery (accelerated depreciation, etc.). Eliminate all overseas income tax loopholes. In the New American System, the plain American people are preferred over machines or foreign labor.
Eliminate tax deductions for any compensation above the salary of the President of the United States. Why the President’s salary? We have to draw the line somewhere and that’s a highly recognizable, bright line all can see. That change will lower the costs of employing many people at middle income wages/salaries vs. an executive suite or princely contractors. Eliminate tax loopholes for billionaire money managers.
Require any corporation wishing to bring in immigrants for so-called "hard to fill" jobs first offer the job broadly at a 10% pay increase AND offer job training for any special requirements; provide an arbitration board to protect against unfair or excessively tailored job descriptions.
Eliminate all Federal & State regulations that kick in at some number of jobs, like 50. Those hold down the number of jobs and encourage using high paid employees supported by machines, vs. simple jobs for more people.
Eliminate the R&D tax credit and replace it with a Job Training credit: US companies get the credit for the costs of training workers whom they hire with skills needed for the jobs; if the new hires are laid off within five years, the credit should be recaptured.
The new value-Added Tax will apply to services, too, thus forcing those using foreign labor or foreign contracts services to pay the tax for the retirement and health care benefits for Americans.
All these policies will lower the cost of hiring plain people in America and increase the demand for people vs. machines. And it frees the entrepreneurial energy of millions of people chained to dead end jobs by "benefits". Entrepreneurs will be more free to hire people as hiring becomes simple and direct, with no red tape. The cost of replacing people with machines goes up. By equating the W-2 worker with the 1099 worker, employers will want to hire more people to lock in their services; there will be NO benefit to keeping people on 1099 contracts.
Word of the Day
"Fard" - noun, verb, transitive [$100] Archaic.
Fard means (noun) facial cosmetics; (verb) to apply cosmetics to (the face).
Sentence: Will Barry offer new ideas? Nope, he's going to fard the hogs at the trough.
The Job Solution - Long Term
Stop taxing jobs. That means no more taxes paid on employment income for Social Security, Medicare, unemployment benefits or any other direct or indirect tax on jobs. This will lower the cost of hiring people significantly.
Eliminate the connection between health care and jobs. Tying health care to a job is a Faustian bargain: one loses a job and health care and the same time – horribly risky for people. Those silver chains both increases the cost of employment enormously and prevents people from moving to either better jobs or starting their own businesses.
Social Security, Medicare, all other job taxes AND a new National Shared Heath Care Benefit should be funded by a new Value-added or Sales tax on goods (especially imported goods) and many services (especially imported services). Consumers of imported goods and services now get a free ride. Nothing embedded in the value of imported goods & services helps fund the government or provides benefits to American workers. Shifting the funding for all those programs will make consumers of imports pay a fair share to support the New American System. See The Tax Solution for more details. In this New American System, cost of employing Americans in America will be far, far less.
Eliminate all tax subsidies for equipment and machinery (accelerated depreciation, etc.). Eliminate all overseas income tax loopholes. In the New American System, the plain American people are preferred over machines or foreign labor.
Eliminate tax deductions for any compensation above the salary of the President of the United States. Why the President’s salary? We have to draw the line somewhere and that’s a highly recognizable, bright line all can see. That change will lower the costs of employing many people at middle income wages/salaries vs. an executive suite or princely contractors. Eliminate tax loopholes for billionaire money managers.
Require any corporation wishing to bring in immigrants for so-called "hard to fill" jobs first offer the job broadly at a 10% pay increase AND offer job training for any special requirements; provide an arbitration board to protect against unfair or excessively tailored job descriptions.
Eliminate all Federal & State regulations that kick in at some number of jobs, like 50. Those hold down the number of jobs and encourage using high paid employees supported by machines, vs. simple jobs for more people.
Eliminate the R&D tax credit and replace it with a Job Training credit: US companies get the credit for the costs of training workers whom they hire with skills needed for the jobs; if the new hires are laid off within five years, the credit should be recaptured.
The new value-Added Tax will apply to services, too, thus forcing those using foreign labor or foreign contracts services to pay the tax for the retirement and health care benefits for Americans.
All these policies will lower the cost of hiring plain people in America and increase the demand for people vs. machines. And it frees the entrepreneurial energy of millions of people chained to dead end jobs by "benefits". Entrepreneurs will be more free to hire people as hiring becomes simple and direct, with no red tape. The cost of replacing people with machines goes up. By equating the W-2 worker with the 1099 worker, employers will want to hire more people to lock in their services; there will be NO benefit to keeping people on 1099 contracts.
Word of the Day
"Fard" - noun, verb, transitive [$100] Archaic.
Fard means (noun) facial cosmetics; (verb) to apply cosmetics to (the face).
Sentence: Will Barry offer new ideas? Nope, he's going to fard the hogs at the trough.
Tuesday, September 6, 2011
Back in the Saddle
Last week was a break from this blog for your writer. He used it productively in collecting and editing some past posts to create a pamphlet to publish and send to about 1,000 "leaders" in the US. Why? To give them truly new ideas. I can't bash them as they deserve, because I want them to read it. Writing an effective pamphlet requires one to incorporate principles of good advertizing to capture the readers. That rules out bashing them ... at least at first. The pamphlet is in re-write mode now as I proceed through many drafts to hone the language and thoughts. Publication will be this month ... or my name isn't Bunkerman.
The Panic of the Rich in Europe continues. European stocks markets cratered yesterday while we had our Labor Day barbecues. Today the Swiss National Bank set a hard ceiling on the Swiss Franc vs. the Euro saying it will buy unlimited quantities of Euros by issuing unlimited amounts of Swiss Francs. Will they do it? Time will tell. Thye have to stop the distortion caused by the flood of panic money coming from rich Europeans and the Middle East. Rich Europeans fear taxes and social disorder; rich Arabs fear revolutions and social disorder. Do you notice a common denominator?
Obama will make another speech Thursday evening. Judging from his Labor Day speeches, he will offer nothing new and mostly posture to his base for political gain. Your writer will make a post tomorrow with the correct answer to the correct question: how to help America and the American people get back onto a path towards more prosperity and happiness for all.
An Interesting Movie
Check out The Inside Job, which contains many quite intriguing and provocative facts about the Panic of 2008. I was quite surprised to learn the huge sums paid to economists such as Larry Summers and Glenn Hubbard by the financial services industry. These guys were [are?] getting $100,000 a speech. Uh ... that's not a speaking fee, it's a payoff. Big money has utterly corrupted that formerly academic profession. Remember that when the media puts people like this on TV to blather about what's good for America.
The movie missed a few points (such as the role of hedge funds), but has enough to make it quite worth watching.
Comparisons to 2008
These are all over the business press. Uh ... guys ... if that has any validity, why are TIPs prices so high? Why are municipal bonds yields so low? Sheesh ...
Idiots.
Word of the Day
"Contumely" - noun [$10] Shakespeare, from Hamlet's soliloquy.
Contumely means 1. insolent or reproachful language or treatment; 2. disgrace.
Sentence: The common man and woman need to start dousing the DC crowd with contumely - in old Brooklynese, give them the raspberry. Toss the bums out.
The Panic of the Rich in Europe continues. European stocks markets cratered yesterday while we had our Labor Day barbecues. Today the Swiss National Bank set a hard ceiling on the Swiss Franc vs. the Euro saying it will buy unlimited quantities of Euros by issuing unlimited amounts of Swiss Francs. Will they do it? Time will tell. Thye have to stop the distortion caused by the flood of panic money coming from rich Europeans and the Middle East. Rich Europeans fear taxes and social disorder; rich Arabs fear revolutions and social disorder. Do you notice a common denominator?
Obama will make another speech Thursday evening. Judging from his Labor Day speeches, he will offer nothing new and mostly posture to his base for political gain. Your writer will make a post tomorrow with the correct answer to the correct question: how to help America and the American people get back onto a path towards more prosperity and happiness for all.
An Interesting Movie
Check out The Inside Job, which contains many quite intriguing and provocative facts about the Panic of 2008. I was quite surprised to learn the huge sums paid to economists such as Larry Summers and Glenn Hubbard by the financial services industry. These guys were [are?] getting $100,000 a speech. Uh ... that's not a speaking fee, it's a payoff. Big money has utterly corrupted that formerly academic profession. Remember that when the media puts people like this on TV to blather about what's good for America.
The movie missed a few points (such as the role of hedge funds), but has enough to make it quite worth watching.
Comparisons to 2008
These are all over the business press. Uh ... guys ... if that has any validity, why are TIPs prices so high? Why are municipal bonds yields so low? Sheesh ...
Idiots.
Word of the Day
"Contumely" - noun [$10] Shakespeare, from Hamlet's soliloquy.
Contumely means 1. insolent or reproachful language or treatment; 2. disgrace.
Sentence: The common man and woman need to start dousing the DC crowd with contumely - in old Brooklynese, give them the raspberry. Toss the bums out.
Friday, February 11, 2011
Pay Policies
In my recent post, The Job Solution, some of the panoply of policies to increase demand for people were a few to increase equity in pay. Currently a cabal / clique / camarilla of the CEO club and their friends on Board Compensation committees control executive level pay and, of course, those hogs slurp down most of the food in the trough for themselves, elbowing out the common man and woman.
Today I highlight practical polices to shift more PAY towards the common man and woman. Some are repeats that I add a bit of detail to make their operation clear. Our goal: increase demand in the economy for people. We do this by obvious means: reduce the cost of hiring people, increase the cost of hogs, and make high level pay open and more under the control of shareholders.
I. No tax deductions for ANY compensation amounts over the US President's salary. Companies can pay the hogs, but no tax benefits. Effect: hiring a new person for $100,000 is cheaper than laying off people to replace with machines and increasing pay of the boss.
II. Any corporate pay (executive or otherwise) contacts providing for pay over $1 million must be approved in advance by the shareholders in a mandatory, binding vote by secret ballot. This will limit the number of votes and highlight the pay of the hogs.
III. For any negative vote, the Compensation Committee is fired and replaced by all new people, required to be shareholders of at least 1,000 shares and who must certify they have NO relations with the CEO and other Board members.
IV. All corporate pay over the US President's salary has clawback provisions, making THEM bears the costs of all those "non-recurring losses" they now like to put onto shareholders and lower level employee pay. Nowadays, they keep the pay and layoff people to "restructure" the company, in effect rewarding themselves for their mistakes. Stop this invidious practice.
All these policies maintain corporate freedom to reward performance, but shine the light of day onto that pay and make its determination truly independent and under control of the shareholders. Let's do this now.
Word of the Day
"Mistery" - noun [$1000] T. S. Eliot usage (among others); from usage of "Mister" obsolete, archaic and dialect.
Mistery means a general reference to 1. occupation, service, etc.; 2. office, duty, business, function; 3. employment, occupation, practice; 4. skill or cunning in a profession; 5. other similar definitions.
Sentence: We need more miserly pay for mistery in the executive suite.
Today I highlight practical polices to shift more PAY towards the common man and woman. Some are repeats that I add a bit of detail to make their operation clear. Our goal: increase demand in the economy for people. We do this by obvious means: reduce the cost of hiring people, increase the cost of hogs, and make high level pay open and more under the control of shareholders.
I. No tax deductions for ANY compensation amounts over the US President's salary. Companies can pay the hogs, but no tax benefits. Effect: hiring a new person for $100,000 is cheaper than laying off people to replace with machines and increasing pay of the boss.
II. Any corporate pay (executive or otherwise) contacts providing for pay over $1 million must be approved in advance by the shareholders in a mandatory, binding vote by secret ballot. This will limit the number of votes and highlight the pay of the hogs.
III. For any negative vote, the Compensation Committee is fired and replaced by all new people, required to be shareholders of at least 1,000 shares and who must certify they have NO relations with the CEO and other Board members.
IV. All corporate pay over the US President's salary has clawback provisions, making THEM bears the costs of all those "non-recurring losses" they now like to put onto shareholders and lower level employee pay. Nowadays, they keep the pay and layoff people to "restructure" the company, in effect rewarding themselves for their mistakes. Stop this invidious practice.
All these policies maintain corporate freedom to reward performance, but shine the light of day onto that pay and make its determination truly independent and under control of the shareholders. Let's do this now.
Word of the Day
"Mistery" - noun [$1000] T. S. Eliot usage (among others); from usage of "Mister" obsolete, archaic and dialect.
Mistery means a general reference to 1. occupation, service, etc.; 2. office, duty, business, function; 3. employment, occupation, practice; 4. skill or cunning in a profession; 5. other similar definitions.
Sentence: We need more miserly pay for mistery in the executive suite.
Thursday, February 3, 2011
The Job Solution
Unemployment and underemployment in the US is between 15% and 20% of the workforce. I favor the higher number because I suspect many, many people who could be productive and want to work simply believe that no meaningful work exists that can cover the costs of working. This problem took a catastrophic leap upward in the recent Great Recession
The Great Recession was caused by the Panic of 2008 which was in turn caused by the financial vikings on the Street and in the hedge funds; the hedge funds were funded by the wealthy wanting more money without making productive investments. But the causes are not part of the solution; they are mostly irrelevant.
The solution is ... a combination of policies, of course. No silver bullet.
The Job Solution
I. Stop taxing jobs, completely. That means no more taxes paid on employment income for Social Security, Medicare, unemployment benefits or any other direct or indirect tax on jobs. This will make the cost of hiring people much lower.
II. Eliminate the connection between health care and jobs. That bond prevents people from changing jobs to move on to either better jobs or starting their own businesses. It also increases the cost of employment enormously.
III. Social Security, Medicare AND a new National Shared Heath Care Benefit will be funded by a new Value-added or Sales tax on goods (especially imported goods) and many services (especially imported services). Consumers of imported goods and services now get a free ride - they are freeloaders. Make them pay a fair share to support the American System.
IV. Eliminate all tax subsidies for equipment and machinery (accelerated depreciation, etc.). Eliminate the overseas income tax loopholes. Eliminate tax loopholes for hedge fund managers.
V. Eliminate tax deductions for any compensation above the salary of the President. This will lower the costs of employing many people at middle income wages/salaries vs. the executive suite.
VI. Require compensation committees of corporations to have a majority of true outsiders nominated and drawn from the ranks of INDIVIDUAL shareholders. Require all corporate votes to be secret ballots.
VII. Require any incentive executive pay to have clawback provisions and to included the effects of ANY so-called nonrecurring losses. Require mandatory stockholder votes to approve ANY incentive plans offering pay in excess of the President's salary. These votes are binding. For any plan that loses, the compensation committee is fired and a new committee is formed.
VIII. Require any corporation wishing to bring in immigrants for so-called "hard to fill" jobs first offer the job broadly at a 10% pay increase AND offer job training for any special requirements; provide an arbitration board to protect against unfair or excessively tailored job descriptions.
IX. Eliminate all Federal & State regulations that kick in at some number of jobs, like 50. Those hold down the number of jobs and encourage using high paid employees supported by machines, vs. simple jobs for more people.
X. Eliminate the R&D tax credit and replace it with a Job Training credit.
All these policies will lower the cost of hiring people and increase the demand for people vs. machines. that's what we want. And it frees the entrepreneurial energy of millions of people stuck in dead end jobs with "benefits". The Job Solution will permanently lower the unemployment and underemployment rates. Entrepreneurs will be more free to hire people as hiring becomes simple and direct, with no red tape. The cost of replacing people with machines goes up. By equating the W-2 worker with the 1099 worker, employers will want to hire more people to lock in their services; there will be NO benefit to keeping people on 1099 contracts.
Education is part of the job problem. It's also part of the transportation problem. I will address those matters next week.
EXTRA
Any global warming Kool-Aid crowd: check this out ->
http://motls.blogspot.com/2011/02/global-uah-amsu-january-2011-cooler.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+LuboMotlsReferenceFrame+%28Lubos+Motl%27s+reference+frame%29
A data stake into the heart of AlGore's propaganda machine.
Word of the Day
"Mimetic" - adjective [$10]
Mimetic means relating to or habitually practicing imitation or mimicry; 2. (Biol.) of or relating to mimicry.
Sentence: The American "leaders" must stop acting as being mimetic is not patriot; stop the "not-invented-here" syndrome. We have a lot to learn from GERMAN employment and education practices. GERMAN unemployment fell to a record low not seen since reunification in 1990. Let's analyze GERMAN policies to see which can help here.
The Great Recession was caused by the Panic of 2008 which was in turn caused by the financial vikings on the Street and in the hedge funds; the hedge funds were funded by the wealthy wanting more money without making productive investments. But the causes are not part of the solution; they are mostly irrelevant.
The solution is ... a combination of policies, of course. No silver bullet.
The Job Solution
I. Stop taxing jobs, completely. That means no more taxes paid on employment income for Social Security, Medicare, unemployment benefits or any other direct or indirect tax on jobs. This will make the cost of hiring people much lower.
II. Eliminate the connection between health care and jobs. That bond prevents people from changing jobs to move on to either better jobs or starting their own businesses. It also increases the cost of employment enormously.
III. Social Security, Medicare AND a new National Shared Heath Care Benefit will be funded by a new Value-added or Sales tax on goods (especially imported goods) and many services (especially imported services). Consumers of imported goods and services now get a free ride - they are freeloaders. Make them pay a fair share to support the American System.
IV. Eliminate all tax subsidies for equipment and machinery (accelerated depreciation, etc.). Eliminate the overseas income tax loopholes. Eliminate tax loopholes for hedge fund managers.
V. Eliminate tax deductions for any compensation above the salary of the President. This will lower the costs of employing many people at middle income wages/salaries vs. the executive suite.
VI. Require compensation committees of corporations to have a majority of true outsiders nominated and drawn from the ranks of INDIVIDUAL shareholders. Require all corporate votes to be secret ballots.
VII. Require any incentive executive pay to have clawback provisions and to included the effects of ANY so-called nonrecurring losses. Require mandatory stockholder votes to approve ANY incentive plans offering pay in excess of the President's salary. These votes are binding. For any plan that loses, the compensation committee is fired and a new committee is formed.
VIII. Require any corporation wishing to bring in immigrants for so-called "hard to fill" jobs first offer the job broadly at a 10% pay increase AND offer job training for any special requirements; provide an arbitration board to protect against unfair or excessively tailored job descriptions.
IX. Eliminate all Federal & State regulations that kick in at some number of jobs, like 50. Those hold down the number of jobs and encourage using high paid employees supported by machines, vs. simple jobs for more people.
X. Eliminate the R&D tax credit and replace it with a Job Training credit.
All these policies will lower the cost of hiring people and increase the demand for people vs. machines. that's what we want. And it frees the entrepreneurial energy of millions of people stuck in dead end jobs with "benefits". The Job Solution will permanently lower the unemployment and underemployment rates. Entrepreneurs will be more free to hire people as hiring becomes simple and direct, with no red tape. The cost of replacing people with machines goes up. By equating the W-2 worker with the 1099 worker, employers will want to hire more people to lock in their services; there will be NO benefit to keeping people on 1099 contracts.
Education is part of the job problem. It's also part of the transportation problem. I will address those matters next week.
EXTRA
Any global warming Kool-Aid crowd: check this out ->
http://motls.blogspot.com/2011/02/global-uah-amsu-january-2011-cooler.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+LuboMotlsReferenceFrame+%28Lubos+Motl%27s+reference+frame%29
A data stake into the heart of AlGore's propaganda machine.
Word of the Day
"Mimetic" - adjective [$10]
Mimetic means relating to or habitually practicing imitation or mimicry; 2. (Biol.) of or relating to mimicry.
Sentence: The American "leaders" must stop acting as being mimetic is not patriot; stop the "not-invented-here" syndrome. We have a lot to learn from GERMAN employment and education practices. GERMAN unemployment fell to a record low not seen since reunification in 1990. Let's analyze GERMAN policies to see which can help here.
Thursday, October 21, 2010
Make Them Pay
The most ridiculous idea I've seen recently is the one floating around to give the corporations a tax holiday on their accumulated overseas earnings. Here's the main facts: A company creates an overseas subsidiary to do business in other countries. It makes money and pays taxes wherever it operates, such as in Europe or Asia. The company also takes an accounting charge to US earnings for the taxes due to the US, but the actual payment is deferred until the cash is brought back to the US. The company receives a credit on its US taxes for the foreign taxes paid on that income - thus NO double taxation.
Now they want to get out of this tax liability - one already booked and owed. The overseas countries got their taxes, but the US - the home country which provides them existence - would not. That is utterly ridiculous.
Example: Cisco Systems with its CEO, John ("JohnBoy") Chambers. He co-authored an op-ed in the WSJ yesterday asking for this tax break. His co-author was president of Oracle. Both of them make millions of $ a year, but want more.
"One trillion dollars is roughly the amount of earnings that American companies have in their foreign operations—and that they could repatriate to the United States. That money, in turn, could be invested in U.S. jobs, capital assets, research and development, and more.
"But for U.S companies such repatriation of earnings carries a significant penalty: a federal tax of up to 35%. This means that U.S. companies can, without significant consequence, use their foreign earnings to invest in any country in the world—except here."
This article and the entire argument is first class sophistry. The companies have ALREADY booked the taxes they OWE to the US. There is no "penalty" - the tax is owed.
In the first place, the only money the company cannot reinvest is the money they OWE to the US government. The rest of the money - up to 65% - can be reinvested. Second, they already OWE that money and have reported that liability to their shareholders. Third, nothing makes them actually invest that money - they can use it for executive salaries or dividends or whatever. Claiming this is a job issue is a total LIE. US interest rates are extremely low. The companies can easily finance new investment for jobs with long term bonds. They are simply lying when they say this tax break is needed.
All JohnBoy and his clique want is another free ride to get more executive pay via stock options and other massive pay packages.
Here's a better idea: tax the entire worldwide earnings NOW. Let's collect this long overdue debt. Close this overseas earnings loophole forever.
Use the money to pay down US debt.
Word of the Day
"Coxcomb" - noun [$10]
Coxcomb means an ostentatiously conceited man, a dandy.
Sentence: Corporate coxcombs seem to think the world revolves around them, that they are Dukes or Princes. It's time to bring them down to learn about the common man & woman. Make them pay.
Now they want to get out of this tax liability - one already booked and owed. The overseas countries got their taxes, but the US - the home country which provides them existence - would not. That is utterly ridiculous.
Example: Cisco Systems with its CEO, John ("JohnBoy") Chambers. He co-authored an op-ed in the WSJ yesterday asking for this tax break. His co-author was president of Oracle. Both of them make millions of $ a year, but want more.
"One trillion dollars is roughly the amount of earnings that American companies have in their foreign operations—and that they could repatriate to the United States. That money, in turn, could be invested in U.S. jobs, capital assets, research and development, and more.
"But for U.S companies such repatriation of earnings carries a significant penalty: a federal tax of up to 35%. This means that U.S. companies can, without significant consequence, use their foreign earnings to invest in any country in the world—except here."
This article and the entire argument is first class sophistry. The companies have ALREADY booked the taxes they OWE to the US. There is no "penalty" - the tax is owed.
In the first place, the only money the company cannot reinvest is the money they OWE to the US government. The rest of the money - up to 65% - can be reinvested. Second, they already OWE that money and have reported that liability to their shareholders. Third, nothing makes them actually invest that money - they can use it for executive salaries or dividends or whatever. Claiming this is a job issue is a total LIE. US interest rates are extremely low. The companies can easily finance new investment for jobs with long term bonds. They are simply lying when they say this tax break is needed.
All JohnBoy and his clique want is another free ride to get more executive pay via stock options and other massive pay packages.
Here's a better idea: tax the entire worldwide earnings NOW. Let's collect this long overdue debt. Close this overseas earnings loophole forever.
Use the money to pay down US debt.
Word of the Day
"Coxcomb" - noun [$10]
Coxcomb means an ostentatiously conceited man, a dandy.
Sentence: Corporate coxcombs seem to think the world revolves around them, that they are Dukes or Princes. It's time to bring them down to learn about the common man & woman. Make them pay.
Tuesday, September 7, 2010
More Blather from the Bloviator
La Grande Bouche ... The Bloviator in Chief ...
speaks again ... and again ... and again.
Does he think ? Nope.
On Labor Day he comes out with some more ... talk. He want to give business $200 billion in tax savings on investments in plant & equipment. Uh ... is not the problem a lack of jobs for HUMANS ? So why is he subsidizing replacing humans with machines ?
He want to spend $50 billion on "road, railways, and runways". Uh ... wasn't the P-O-R stimulus plan supposed to do that ? It had $700 billion. I guess he is tacitly admitting that money was squandered on unproductive spending. And the people are supposed to suppose that crowd of knaves for MORE spending ?
Meanwhile, the massive taxes on jobs continue. As do the onerous new IRS reporting requirements for small business expenditures. As does the favored tax rates for the billionaire hedge fund managers (the capital gains treatment for "carried interest").
The working poor pay higher tax rates than the billionaire hedge fund and private equity managers. A single person making $15,000 per year in a small business pays 15.3% tax for Social Security and Medicare [ no deductions here ! ] AND a 15% marginal tax rate on taxable income (after the standard deduction and personal exemptions). There is almost no "Earned Income Credit" for single people OR married people with no children. Thus those people are paying 15.3% on the gross plus 15% more on their net household "profit", for a total a 30.3% tax rate.
The billionaire hedge fund or private equity manager pays 15% capital gains rate on his "carried interest". This is not a capital investment. He invested NOTHING - he gets the carried interest for free as a management fee. And the multimillionaire who inherited their wealth and has invested in municipal bands pays NOTHING, TOO.
So Obama still wants to tax jobs, give companies tax breaks for replacing people with machines and give billionaires and multimillionaires free ride.
Is that the "Audacity of Hope" ?
No. That's just lazy sleaze and bloviation to get and keep power. No thought is happening in the White House, but a simple calculation of how to change the subject ... from his failures to anything else.
The P-O-R [Pelosi-Obama-Reid] knaves need to be ejected from power. I hope the public gives them the boot this fall.
PS: The Tea Party activists who are listening to libertarian billionaires like the Koch brothers are being fooled. All they want is free rein to turn themselves into a new aristocracy and gain more wealth and power. Notice how they love to adulated at those social events. They want the public to kowtow to them like they were Dukes or Princes in old Europe. Pericles would scorn them. And the public should, too. Ugh.
PPPS: The health care debate is rather false, too. Those opposed to some kind of national benefit keep screeching that the poor get health care via Medicaid. BUT anyone checking would find out that is given almost exclusively to people with children. The common man without a job gets almost nothing. Thus if he gets sick and a big health care bill, he can lose his home, too. And his life savings. Some fairness. The US system is a disgrace.
Word of the Day
"Zetetic" - adjective [$10]
Zetetic means proceeding by inquiry, investigating.
Sentence: Good solutions to national problem of lack of jobs must come from true zetetic analysis of the actual factors forming the situation, not from political calculations for gaining or retaining power. From my own zetetic thinking, it seems obvious that the US has too few jobs because it taxes jobs too heavily.
speaks again ... and again ... and again.
Does he think ? Nope.
On Labor Day he comes out with some more ... talk. He want to give business $200 billion in tax savings on investments in plant & equipment. Uh ... is not the problem a lack of jobs for HUMANS ? So why is he subsidizing replacing humans with machines ?
He want to spend $50 billion on "road, railways, and runways". Uh ... wasn't the P-O-R stimulus plan supposed to do that ? It had $700 billion. I guess he is tacitly admitting that money was squandered on unproductive spending. And the people are supposed to suppose that crowd of knaves for MORE spending ?
Meanwhile, the massive taxes on jobs continue. As do the onerous new IRS reporting requirements for small business expenditures. As does the favored tax rates for the billionaire hedge fund managers (the capital gains treatment for "carried interest").
The working poor pay higher tax rates than the billionaire hedge fund and private equity managers. A single person making $15,000 per year in a small business pays 15.3% tax for Social Security and Medicare [ no deductions here ! ] AND a 15% marginal tax rate on taxable income (after the standard deduction and personal exemptions). There is almost no "Earned Income Credit" for single people OR married people with no children. Thus those people are paying 15.3% on the gross plus 15% more on their net household "profit", for a total a 30.3% tax rate.
The billionaire hedge fund or private equity manager pays 15% capital gains rate on his "carried interest". This is not a capital investment. He invested NOTHING - he gets the carried interest for free as a management fee. And the multimillionaire who inherited their wealth and has invested in municipal bands pays NOTHING, TOO.
So Obama still wants to tax jobs, give companies tax breaks for replacing people with machines and give billionaires and multimillionaires free ride.
Is that the "Audacity of Hope" ?
No. That's just lazy sleaze and bloviation to get and keep power. No thought is happening in the White House, but a simple calculation of how to change the subject ... from his failures to anything else.
The P-O-R [Pelosi-Obama-Reid] knaves need to be ejected from power. I hope the public gives them the boot this fall.
PS: The Tea Party activists who are listening to libertarian billionaires like the Koch brothers are being fooled. All they want is free rein to turn themselves into a new aristocracy and gain more wealth and power. Notice how they love to adulated at those social events. They want the public to kowtow to them like they were Dukes or Princes in old Europe. Pericles would scorn them. And the public should, too. Ugh.
PPS: One of the biggest lies being shouted is that the working poor pay little or no tax. I guess they've never even looked at a tax return and are making it up. Economists and people in think tanks are like that. They have little or no practical experience in the world.
PPPS: The health care debate is rather false, too. Those opposed to some kind of national benefit keep screeching that the poor get health care via Medicaid. BUT anyone checking would find out that is given almost exclusively to people with children. The common man without a job gets almost nothing. Thus if he gets sick and a big health care bill, he can lose his home, too. And his life savings. Some fairness. The US system is a disgrace.
Word of the Day
"Zetetic" - adjective [$10]
Zetetic means proceeding by inquiry, investigating.
Sentence: Good solutions to national problem of lack of jobs must come from true zetetic analysis of the actual factors forming the situation, not from political calculations for gaining or retaining power. From my own zetetic thinking, it seems obvious that the US has too few jobs because it taxes jobs too heavily.
Wednesday, July 14, 2010
Summer Rally Continues
Another big up day occurred yesterday, and Intel's good earnings overnight is leading to substantially higher futures this morning.
I guess the permabears were wrong. Someone is buying all those chips. I wonder ... companies buying technology to increase productivity and avoid hiring people ... hmmmm. Could be.
Obama has reinforced the trend of government impositions that make people a big liability for companies - not good for job growth. That health care bill makes employment costs look worse as far as the eye can see, particularly for small business. Why force all that cost onto companies ? It simply makes no sense. A company can off-shore jobs and avoid that cost. It can buy technology to produce services in India. Who loses ? The US worker.
I have no problem with a national health care benefit for the people, but it should be funded directly and not foisted onto companies. Get rid of ALL the taxes on jobs and replace them ALL with a value added tax. This would make consumption of imports bear part of the cost. This must be done or US job growth will stagnate for years.
Actions
Krypto has the same sell order for me. It's still a weak signal, but getting stronger. Waiting ...
Stupidity of Billionaires
I heard a billionaire speak ... the press likes us to bow down them like gods. Not me. John Malone said that he respects Al Gore's intellect and that Al Gore really did invent the Internet with his work in Congress.
What a FOOL !!! The Internet was created by the Defense Department in the late 1960s and early 1970s ARPANET - Advanced Research Project Agency Network by MIT and the Department of Defense. I personally remember graduate students and postdocs at Harvard using it in the mid 1970s.
By his own words, billionaire John Malone is a FOOL !
Word of the Day
"Sesquipedalian" - adjective [$10]
Sesquipedalian means 1. long and cumbersome: polysyllabic; 2. tending to use long words.
Sentence: The more vocabulary one learns, the more one becomes sequipedalian. Here's an example of chiasmus (an AB:BA structure) - Using a word like 'sequipedalian' is sequipedalian word usage.
[ Bman stumped the Google spellchecker again :)) ]
I guess the permabears were wrong. Someone is buying all those chips. I wonder ... companies buying technology to increase productivity and avoid hiring people ... hmmmm. Could be.
Obama has reinforced the trend of government impositions that make people a big liability for companies - not good for job growth. That health care bill makes employment costs look worse as far as the eye can see, particularly for small business. Why force all that cost onto companies ? It simply makes no sense. A company can off-shore jobs and avoid that cost. It can buy technology to produce services in India. Who loses ? The US worker.
I have no problem with a national health care benefit for the people, but it should be funded directly and not foisted onto companies. Get rid of ALL the taxes on jobs and replace them ALL with a value added tax. This would make consumption of imports bear part of the cost. This must be done or US job growth will stagnate for years.
Actions
Krypto has the same sell order for me. It's still a weak signal, but getting stronger. Waiting ...
Stupidity of Billionaires
I heard a billionaire speak ... the press likes us to bow down them like gods. Not me. John Malone said that he respects Al Gore's intellect and that Al Gore really did invent the Internet with his work in Congress.
What a FOOL !!! The Internet was created by the Defense Department in the late 1960s and early 1970s ARPANET - Advanced Research Project Agency Network by MIT and the Department of Defense. I personally remember graduate students and postdocs at Harvard using it in the mid 1970s.
By his own words, billionaire John Malone is a FOOL !
Word of the Day
"Sesquipedalian" - adjective [$10]
Sesquipedalian means 1. long and cumbersome: polysyllabic; 2. tending to use long words.
Sentence: The more vocabulary one learns, the more one becomes sequipedalian. Here's an example of chiasmus (an AB:BA structure) - Using a word like 'sequipedalian' is sequipedalian word usage.
[ Bman stumped the Google spellchecker again :)) ]
Monday, June 7, 2010
As Ye Sow, So Shall Ye Reap
"Ye" is an archaic, obsolete form for the nominative 2nd person plural of "you".
On Friday we saw an instantiation of this proverb in the monthly jobs report. The report showed the private sector created merely 41,000 jobs in May, of which 31,000 were thought to be temporary, making a net private sector job creation of 10,000. Abysmal ! That is the jobs harvest of the Pelosi-Obama "Stimulus" bill [aka the "POS" bill ] passed about 15 months ago, which had a price tag of about $800 billion. All the time lags one could expect have passed. So much for the "jump-starting" metaphor and the "shovel-ready" projects. The rhetoric was all there was in the POS.
Did POS fund any permanent improvements for the US ? Did it fund needed rail transport improvements to provide long term alternatives to gasoline/diesel cars & trucks ? Nope. Did it fund a national high-speed Internet improvements ? Nope. Did it fund port improvements and improve rail connections to help US companies export ? Nope. Did it fund nuclear power construction to provide domestic sources of energy ? Nope. Did it fund better cell phone access for remote (and not so remote) areas of the US ? Nope. Did it fund urban high speed wireless Internet access ? Nope. Did it fund improvements in tourist sites or wilderness areas or historical rehabilitation to increase tourism and domestic demand ? Nope.
It's rather hard to see any highway improvements, either, beyond what seems like ordinary repairs & maintenance.
All the POS did was throw money at wasteful state & local governments and fritter away that $800 billion on innumerable pet projects of the ruling classes in DC. In other words, it was spent like the earmarks that Congress loves to feed on in their trough - payoffs for their supporters.
The POS sowed nothing and now the US reaps only scattered weeds. And more ... in the interim, did Obama use any fertilizer ? Nope. He did NOTHING to help the private sector - and in fact has harmed it with his health care monstrosity, which will impose huge new burdens and costs on the private sector.
Meanwhile, every week we see over 400,000 new layoffs. Who in their right mind can think this "recovery" has legs ? Just imagine the effect of those layoffs on the 400,000 families affected. And the Obama propaganda machine rolls on, spreading happy-talk and outright lies. His economic "plan" is now in tatters - but was there ever a plan ? I think not. He did nothing and even cooperated while the Pelosi crowd of ruling class hogs slurped up the money for their friends.
The people need to act and kick that passel of hogs out of office at every level of government. And get the government off the backs of the private sector. And take charge of this recovery themselves.
Btw, I see no "double-dip", just stagnation for awhile while the people act.
Actions
None planned or foreseen. Krypto seems content.
Word of the Day
"Cautelous" - adjective [$1000] from "Cautel" - noun, verb (substantive) [$1000] Obsolete, archaic.
Cautel means (noun) 1. a crafty device, artifice, stratagem, trick, sleight, deceit; 2. cunning, craftiness, wiliness, trickery; 3. caution, wariness, heedfulness; 4. a precaution: in Law, an exception, restriction, or reservation made for precaution's sake; (verb) to deceive, beguile, to devise cunningly or craftily.
Cautelous means 1. full of cautels, deceitful, crafty, artful, wiliy; cautious, wary, heedful, circumspect.
Sentence: (A) [from Shakespeare, Julius Caesar, Act II, Scene 1] "Swear priests and cowards and men cautelous" - spoken by Brutus disclaiming any need for the "noble" conspirators to swear to murder Caesar. (B) The people need leaders, true leaders who will lead with DEEDS, not words, and who are not mere cautelous knaves.
On Friday we saw an instantiation of this proverb in the monthly jobs report. The report showed the private sector created merely 41,000 jobs in May, of which 31,000 were thought to be temporary, making a net private sector job creation of 10,000. Abysmal ! That is the jobs harvest of the Pelosi-Obama "Stimulus" bill [aka the "POS" bill ] passed about 15 months ago, which had a price tag of about $800 billion. All the time lags one could expect have passed. So much for the "jump-starting" metaphor and the "shovel-ready" projects. The rhetoric was all there was in the POS.
Did POS fund any permanent improvements for the US ? Did it fund needed rail transport improvements to provide long term alternatives to gasoline/diesel cars & trucks ? Nope. Did it fund a national high-speed Internet improvements ? Nope. Did it fund port improvements and improve rail connections to help US companies export ? Nope. Did it fund nuclear power construction to provide domestic sources of energy ? Nope. Did it fund better cell phone access for remote (and not so remote) areas of the US ? Nope. Did it fund urban high speed wireless Internet access ? Nope. Did it fund improvements in tourist sites or wilderness areas or historical rehabilitation to increase tourism and domestic demand ? Nope.
It's rather hard to see any highway improvements, either, beyond what seems like ordinary repairs & maintenance.
All the POS did was throw money at wasteful state & local governments and fritter away that $800 billion on innumerable pet projects of the ruling classes in DC. In other words, it was spent like the earmarks that Congress loves to feed on in their trough - payoffs for their supporters.
The POS sowed nothing and now the US reaps only scattered weeds. And more ... in the interim, did Obama use any fertilizer ? Nope. He did NOTHING to help the private sector - and in fact has harmed it with his health care monstrosity, which will impose huge new burdens and costs on the private sector.
Meanwhile, every week we see over 400,000 new layoffs. Who in their right mind can think this "recovery" has legs ? Just imagine the effect of those layoffs on the 400,000 families affected. And the Obama propaganda machine rolls on, spreading happy-talk and outright lies. His economic "plan" is now in tatters - but was there ever a plan ? I think not. He did nothing and even cooperated while the Pelosi crowd of ruling class hogs slurped up the money for their friends.
The people need to act and kick that passel of hogs out of office at every level of government. And get the government off the backs of the private sector. And take charge of this recovery themselves.
Btw, I see no "double-dip", just stagnation for awhile while the people act.
Actions
None planned or foreseen. Krypto seems content.
Word of the Day
"Cautelous" - adjective [$1000] from "Cautel" - noun, verb (substantive) [$1000] Obsolete, archaic.
Cautel means (noun) 1. a crafty device, artifice, stratagem, trick, sleight, deceit; 2. cunning, craftiness, wiliness, trickery; 3. caution, wariness, heedfulness; 4. a precaution: in Law, an exception, restriction, or reservation made for precaution's sake; (verb) to deceive, beguile, to devise cunningly or craftily.
Cautelous means 1. full of cautels, deceitful, crafty, artful, wiliy; cautious, wary, heedful, circumspect.
Sentence: (A) [from Shakespeare, Julius Caesar, Act II, Scene 1] "Swear priests and cowards and men cautelous" - spoken by Brutus disclaiming any need for the "noble" conspirators to swear to murder Caesar. (B) The people need leaders, true leaders who will lead with DEEDS, not words, and who are not mere cautelous knaves.
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