Category Archives: Lisa Longo

More Questions And Lies About Romney And The Olympics

by Lisa Longo, 2/11/15

It would seem all is not as it appears in the Mitt Romney fairy tale about his “success” as CEO of the Salt Lake City Olympic Committee. Such a twisted yarn this has become; from his fictional exit as head of Bain Capital to his being the “savior” of the 2002 Salt Lake City Games.

Starting with his supposed exit from Bain to be CEO of the 2002 Salt Lake City Olympic Committee, how is it that the CEO of a successful company, who owned 100% of a venture capital firm, had nothing to do with the decision-making or policies of this firm? This same company which went from trying to help businesses succeed, to borrowing against assets to profiting from their failure. In addition, this firm actively looked to move manufacturing overseas to countries known for using slave and child labor, one can assume to cut costs and increase profits for its privateer profit-monger partners.

And then this CEO and Chairman of the Board was asked to ride to the “rescue” the 2002 Olympic games. This was in 1999. The “abrupt” departure from the venture capital firm did not allow this shrewd businessman or his many staff, partners, consultants, lawyers, managers, accountants and MBA’s to figure out a way to document his departure.

Evidently, their combined net worth, education and experience did not give them the ability to file a few simple documents correctly. Nor did their business knowledge and success allow them to understand the importance and legality of properly filing forms with the SEC.

Despite this utter lack of professionalism, Mr. Romney was asked to go to Salt Lake City to “rescue” the 2002 Olympic Games….

continue reading at Lisa Longo

Leave a comment

Filed under Lisa Longo, National govt & politics

A Tale of Two Tax Cuts

by Lisa Longo, 2/9/15

“Tax cuts to the rich create jobs”. “Tax cuts for the working poor and middle class stimulate the economy”. Only one of these is true, and it is time to figure out which. And we can, using some basic math.

Is taxing the rich socialism? Is it “un-American” to ask the rich to pay more taxes? Or is income inequality at the root of our economic problem? And how can we know which is the “right” theory? On the one hand you have Democrats calling for an increase to the minimum wage, affordable health care for all and an increase in both the benefit and wage base of the Social Security system as a method of putting more money on “Main Street” to stimulate the economy. On the other side you have Republicans insisting we give more money to “Wall Street” and just saying no to everything until they get their way.

In order to decide who is really “right”, I decided to do some math. I find that when I can break an argument down to mathematical components it provides useful data to help me understand the issues better.

Here are some computations and assumptions for this problem:

An average family needs to make approximately $4,000 per month, net of taxes to cover all expenses. That comes to $23.08 per hour net, which is $27.69 gross for a base hourly wage if we assume average taxes paid equal 20%.

That is the minimum wage at which a person does not “need” any assistance to pay for living, insurance, food, transportation and health care. It does not include saving for retirement, vacations or other expenses that are “discretionary”, for example vacations, gifts, going out to dinner or the movies, buying clothes or getting your hair cut or nails done. And forget about getting sick and not being able to work, republicans don’t want paid sick leave either.

Now, let’s compare discretionary income and how taxes work, and how a tax cut or increase impacts different income levels:

continue reading at Lisa Longo

Leave a comment

Filed under Lisa Longo, Taxes

Civil Dissonance

by Lisa Longo, 1/1/15

I’ve been thinking a lot about the world we’ve created. And I’ve come to the conclusion that it makes absolutely no sense. None. Not even a little. We have created a society based on a system of dichotomies and fallacies. And that is truly absurd. And there really wasn’t a name for what I was thinking. I needed a new phrase. And then it came to me, “civil dissonance”.

What is civil dissonance? It is the concept that we have allowed a system of government that is not beneficial to most humans, their welfare or life itself, and this dichotomous system has replaced the system we started with, you know, the one that allowed for “life, liberty and the pursuit of happiness”.

Similar to cognitive dissonance, which, according to Merriam-Webster is the “…psychological conflict resulting from simultaneously held incongruous beliefs and attitudes (as a fondness for smoking and a belief that it is harmful)”; civil dissonance is the societal conflict resulting from simultaneously held incongruous beliefs and attitudes, such as a belief in improving the standard of living for all but refusing to increase the minimum wage and lift millions out of poverty, or the inability to provide health care for all because that is too expensive while providing billions in tax welfare to the already rich and corporations.

Civil dissonance is the recognition that we are no longer acting in our own best interest. It is acknowledging we’ve allowed a system of entitlement for those who don’t need it, while those who do need it are demonized or ignored….

continue reading at Lisa Longo

Leave a comment

Filed under Lisa Longo, National govt & politics

True Cost of Cheap Sh$t

by Lisa Longo, 9/28/14

How does the economy work and what does the minimum wage have to do with anything? Well, it is a very simple, and a very complicated, question.

Let’s start with the simple part.

I’ve done a talk called “The True Cost of Cheap Sh$t”, and in it, I use the example of socks.

You can buy a bag of a dozen socks at a big box store like a Wal-Mart, for $11.64. That is less than $1 per pair. Now, to maintain those low, low prices, Wal-Mart has to have some basic policies so they can afford to profit while selling such cheap socks. The people who work at Wal-Mart therefore can’t make very much, many make just above minimum wage and many don’t have health care, sick or vacation days, pensions or other benefits.

So how do they do it? And how do their employees live on that low wage? Well, this is where it gets a little complicated, the cost for the low wages, and those low, low prices, are paid by taxpayers, to the tune of $6.2 BILLION a year. …

continue reading at Lisa Longo

Leave a comment

Filed under Economy, Labor, Tax, Lisa Longo