Do the rich earn their income?

[Sallow]

It would be nice if the rich at least paid their taxes:

IRS: Over 1,400 Millionaires Paid No Income Taxes In 2009

It would also be nice if the other 150000000 people had skin in the game too.

Liberals bitch and moan when the 'rich' don't pay income tax... but not a peep when that other 50% of US households don't.

Gee, I wonder why?

Because we weren't the ones who cut their taxes.

That was George W. Bush.

More George W. Bush on Tax Reform
Poor use tax credit more, bring $590 million to Tampa | TBO.com

 

[Si modo]

Would someone make sure the lights are turned out after the last troll leaves the site that just kicked these morons out, please? Go green and all that.

 

[Sallow]

It would also be nice if the other 150000000 people had skin in the game too.

Liberals bitch and moan when the 'rich' don't pay income tax... but not a peep when that other 50% of US households don't.

Gee, I wonder why?

Because that's their voting base?

Well the "havemores" are the base of the Republicans.

[ame=http://www.youtube.com/watch?v=mn4daYJzyls]‪George W Bush - The Elite My Base‬‏ - YouTube[/ame]

 

[Remodeling Maidiac]

Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com

Gotta love it.

Exxon
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion

Those are not individuals with low taxes. They are corporations that contribute more money to the left than the right. Maybe you should ask Obama why his "jobs czar's" corporation paid no taxes. Oops I just busted your partisan hackery. My bad.

 

[Sundial]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

I guess that would depend on your definition of "earn". If you define it as "suffering through a shitty job for someone else every day like I do", then no. The point of becoming rich is so you don't have to do that any more.

The definition of "unearned income" is income you get without work.

For some people the point of being on the dole is so they don't have to work.

Either way, they're consuming without producing.

At least you're willing to concede the rich don't work. That's something.

On the other hand, if you define it as "paying your dues to become wealthy enough to spend your time running your own business and/or managing your investments", then yeah. The vast majority of the rich DO earn their money. It's a known fact that most millionaires in this country are self-made.

Oops. I guess not.

Are the rich rich so they don't have to work? Or because they're running businesses and managing investments?

Or is running businesses and managing money not work?

And if it's not work, why do people get paid to do those things?

Isn't it so other people don't have to?

 

[kwc57]

Did they steal it from you?

Some did. It's why we have financial collapse. They buy politicians to deregulate or change laws. It's how an economic meltdown can occur and no one arrested. These things don't happen by themselves. I thought everyone knew that.

What was stolen from you? Something you earned? Or something you think you're entitled to? Did they use a gun? Can you give the police a description of the person who stole from you?

 

[WillowTree]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

I guess that would depend on your definition of "earn". If you define it as "suffering through a shitty job for someone else every day like I do", then no. The point of becoming rich is so you don't have to do that any more.

The definition of "unearned income" is income you get without work.

For some people the point of being on the dole is so they don't have to work.

Either way, they're consuming without producing.

At least you're willing to concede the rich don't work. That's something.

On the other hand, if you define it as "paying your dues to become wealthy enough to spend your time running your own business and/or managing your investments", then yeah. The vast majority of the rich DO earn their money. It's a known fact that most millionaires in this country are self-made.

Oops. I guess not.

Are the rich rich so they don't have to work? Or because they're running businesses and managing investments?

Or is running businesses and managing money not work?

And if it's not work, why do people get paid to do those things?

Isn't it so other people don't have to?

These are the jobs we can't get the Mexicans to do!

 

[Full-Auto]

Don't forget "inheritance". Republicans call that "the good old fashioned way".

You may not want to give your offspring the fruits of your labor.

But I do.

 

[Sundial]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Do welfare recipients earn their check/perks?

No. If you get money without working, it's unearned income.

 

[kwc57]

How exactly did Paris Hilton become rich? Or for that matter, Donald Trump?

Both started out wealthy and both continued to make more money.

Of the two Paris seems to me to be the more productive and creative earner.

I understand that her businesses generate tens times as much money annually as she inherited in total from her family fortune.

And just think she mostly owes her celebrity (which is what she's capitalized on to create her fashion businesses) to a SEX TAPE.

Smart girl, that.

She certainly turned THAT lemon into lemonade.

I doubt, very much, she did that without hiring people who knew just how to capitalize on it.

So she is an employer with a payroll, but we want to tax her more because she is lucky and/or stole wealth from the poor working man?

 

[bripat9643]

Don't forget "inheritance". Republicans call that "the good old fashioned way".

You may not want to give your offspring the fruits of your labor.

But I do.

All the people who oppose the right of people to pass on their property to whom they chose have no prospect of inheriting anything.

 

[Sallow]

Did they steal it from you?

Some did. It's why we have financial collapse. They buy politicians to deregulate or change laws. It's how an economic meltdown can occur and no one arrested. These things don't happen by themselves. I thought everyone knew that.

What was stolen from you? Something you earned? Or something you think you're entitled to? Did they use a gun? Can you give the police a description of the person who stole from you?

Yeah..Bernie Madoff..use to head up the Nasdaq. Started his own firm which turned out to be a ponzi scam. He's in jail now..but the economy is 20 billion in the hole because of him. Guess who had to fill that hole.

And John Thane. Heard of him? He's the genius that came up with Mortgage Back Securities that cost tax payers trillions.

Anything more you want cleared up?

 

[Sundial]

Did they steal it from you?

I'm not asking how the rich got their money. In fact, I already answers it: interest, dividends, etc.

This is my question:

if the rich are consuming without working, who is doing their work for them?

Do you want to try again?

I love how you just leap to the assumption that they're "consuming without working", and that income that doesn't come from a paycheck is acquired "without getting up in the morning".

You really have no fucking clue who "the rich" are, or what they actually do all day, do you? Why don't you go tell Warren Buffett or Bill Gates that they're just lounging around the pool all day, sipping Mai Tais and being unproductive consumers? That is, if you can catch them with a free moment to listen to your bullshit.

This is called a "straw man argument.". You're attacking an argument I didn't make.

I admire both Warren Buffet and Bill Gates, by the way. Both are giving almost all their money to charity, and Buffet is a strong advocate for higher taxes on the rich.

Edit: well, Buffet more than Gates. Microsoft made most of its money through a de facto monopoly, and makes inferior products.

 

[kwc57]

Some did. It's why we have financial collapse. They buy politicians to deregulate or change laws. It's how an economic meltdown can occur and no one arrested. These things don't happen by themselves. I thought everyone knew that.

What was stolen from you? Something you earned? Or something you think you're entitled to? Did they use a gun? Can you give the police a description of the person who stole from you?

Yeah..Bernie Madoff..use to head up the Nasdaq. Started his own firm which turned out to be a ponzi scam. He's in jail now..but the economy is 20 billion in the hole because of him. Guess who had to fill that hole.

And John Thane. Heard of him? He's the genius that came up with Mortgage Back Securities that cost tax payers trillions.

Anything more you want cleared up?

Well you'd better get hopping on filing a complaint shouldn't you?

 

[Sallow]

Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com

Gotta love it.

Exxon
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion

Those are not individuals with low taxes. They are corporations that contribute more money to the left than the right. Maybe you should ask Obama why his "jobs czar's" corporation paid no taxes. Oops I just busted your partisan hackery. My bad.

Actually..your gotcha isn't really a gotcha at all.

Because at NO TIME are you guys asking to close these loopholes, grants and tax holidays. Quite the contrary. You want them to be BAU.

 

[Sallow]

What was stolen from you? Something you earned? Or something you think you're entitled to? Did they use a gun? Can you give the police a description of the person who stole from you?

Yeah..Bernie Madoff..use to head up the Nasdaq. Started his own firm which turned out to be a ponzi scam. He's in jail now..but the economy is 20 billion in the hole because of him. Guess who had to fill that hole.

And John Thane. Heard of him? He's the genius that came up with Mortgage Back Securities that cost tax payers trillions.

Anything more you want cleared up?

Well you'd better get hopping on filing a complaint shouldn't you?

I did.

Now stop high fiving them.

 

[whitehall]

Here's the scenario the left wing is aiming at: the new socialist states of America creates a group to determine if the "rich" earn their money. Next thing you know the new gestapo is established to seize the assets of the "rich" and turn it over to the "president" who establishes himself as a dictator. Wait a minute, the scenario has already played out in other countries hasn't it? How did it work out?

 

[Full-Auto]

Here's the scenario the left wing is aiming at: the new socialist states of America creates a group to determine if the "rich" earn their money. Next thing you know the new gestapo is established to seize the assets of the "rich" and turn it over to the "president" who establishes himself as a dictator. Wait a minute, the scenario has already played out in other countries hasn't it? How did it work out?

The tree of liberty grows increasingly thirsty. But I hope it doesnt need watering just yet.

 

[G.T.]

u dont scare anyone.

 

[Sundial]

I'll give it a go. But I'm not gonna argue with you after the fact cause its late and I'm tired.

I own a business. And I have others do most of the work. Having said that I busted my ass for decades to get here. I'm sure I worked much harder than the average Joe to be able to get to where I am. I sacrificed many a long days and weekends when my children were small to get to this point. I've had many people come and go and come again. Many quit thinking they can do what I do without me. Most come crawling back after their failure. To run a business requires much more knowledge than it does to perform the work of the business. Some can lead and most can't. I've got one employee who has been with me for over 12 years. About 2 years ago he tried to start out on his own. 9 months later he returned saying he didn't understand how I make it work. You see some of you have no idea how things truly work in the business world. You seem to think the money just falls from the sky.

I worked for my success and the manner in which I now conduct my business is just that, my business. Until you understand that the wealthy's investments provide you idiots jobs you'll never learn anything.

I earned my status. You earn yours. It's not my fault your not driven enough to excel to happiness. And don't tell me your happy with where you are or what you've accomplished otherwise you wouldn't be on here condemning those that make our economy turn.

It's strange that you think I'm unhappy or unsuccessful. I've actually been very fortunate in my life. I feel blessed.

It's sad when people who've been fortunate prefer to assume everyone else must be lazy idiots, rather than recognize their good fortune.