One of the reasons I deride the NTY with the “taco stand” moniker is because they were saved from the bankruptcy hole by a friend of the Obamas, a Mexican national and Billionaire under the name of Carlos “Obamaphone” Slim who bought a considerable amount of shares of the rag to help it remain afloat.

I will never cease to be amazed at the disconnection between journalists and real life.

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By Miguel.GFZ

Semi-retired like Vito Corleone before the heart attack. Consiglieri to J.Kb and AWA. I lived in a Gun Control Paradise: It sucked and got people killed. I do believe that Freedom scares the political elites.

7 thoughts on “This is why there are cutbacks in newspapers.”
  1. Class warfare, the tool of communists everywhere. Say goodbye to Microsoft, Apple, Nike, Facebook, Amazon, Netflix, Dell, Oakley, Tesla, Tic Tacs, WalMart, Oracle, and more. Each of those companies was founded and built by people who became billionaires as a result of their company’s success. If we took that motive from them, those companies would not be the economy drivers that they are.

  2. Aside from the stupidity of leftist billionaires pushing for their own demise, billionaires have the luxury of living anywhere in the world and continuing to manage their businesses. What happens to our economy when the billionaire do a “John Galt” or just move to a friendlier country.

    1. All animals are equal, but some animals are more equal than others. The taco billionaire is just like the other leftist billionaires. Sounds good to the proles….

  3. Once again, I am amazed at the greed and jealousy on the part of the left.

    “It is unfair that there are billionaires” Really? How does someone else’s net worth effect you in any way?
    The guy across the street is an ear/nose/throat surgeon. He probably makes 3-4 times what I make. Yet, my house is nice, it does a good job of keeping me warm, protecting me from the elements, and storing my stuff. Sure, his house is bigger, but I do not need anywhere near that space.
    His X5 is a nice ride, but my old Jeep gets me to work just as well as his ride does.

    So, what is the problem with billionaires? Are these idiots living in squalor because the billionaires are sucking up all the money? (Farhad Manjoo does not look particularly destitute.)

    All I can see is they are greedy and jealous. “Someone has more than I do, and I do not like it!”

    And, let’s say the leftists get their dream. All people in the country are equal. Everyone has an equal net worth, they all have equivalent cars, housing, etc… (And, since we are talking fiction here, let’s pretend it is all late model luxury cars and McMansions). Paradise, right?

    Uhhh… no. The leftists will F that up too. There can no longer be class warfare, because everyone is exactly the same class, so they will start pushing traits. The tall people are benefiting from height privilege, or the heterosexual people are benefiting, or the blondes or the _______ . Even if the entire human race was identical in all aspects, the left would still find a way to be jealous and greedy and demand that some other people be pulled down in the name of equality.

    1. Leftist are firm believers in Zero Sum economics. Thus, every dollar you have is a dollar they don’t. So, a billionaire is someone hoarding the money that people aren’t getting. In their little Marxist Cargo Cult minds, every billionaire or millionaire is a Scrooge McDuck, with a big bin full of money.

      And with most stuff Marxist believe in, reality doesn’t work that way. For one, the essence of the Free Market is the amount of money in a market is not fixed, but can actively be created (or destroyed- see Venezuela).
      The other is that the really rich don’t just sit on their wealth. They will spend it (good for the economy), invest it (really, really good for the economy), or save it (still good).

  4. Most billionaires are billionaires because they own a large stake in a very successful company. So what are we talking about here? Forced divestment of interests? Maybe it’s not so much the money, but maybe some of these billionaires might just want to maintain control of the company they started (their life’s work) and see their vision out. Bezos would have to divest 99.5% of his amazon interests (and then give the cash to the government to pay the 100% billionaires tax) just to get under the threshold. Sorry Jeff. You did too well. You don’t get to keep that. Besides, you didn’t build that anyway. How effed up is that? And how effed up is the subsequent practice of sabotaging your own company’s growth just to maintain control- the inevitable outcome of such a absurd policy?

  5. Another rule of economics: if taxes are too high, and too arbitrary, most people spend more time and effort hiding wealth from the government than they do making it. This is why the old Ottoman empire became “The Sick Old Man of Europe”, and why post WWII England never recovered.

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