If taxes go up next year....

Discussion in 'Politics' started by Ravi, Dec 1, 2012.

  1. Ravi
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    Ravi Diamond Member

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    I will hire a couple of people to do some of my job to avoid paying taxes on what would have been income and in the bargain, get more free time.

    :)

    And if you're a fool you'll believe that most business people won't do just that.
     
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  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Two questions:

    1. How much do you make?
    2. How much are you gonna' pay them?
     
  3. Toronado3800
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    Toronado3800 VIP Member

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    There is always a profits vs investment thing where I work. When we make too much money the box truck gets repairs
     
  4. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    2 answers:

    1. Enough to make it worthwhile.
    2. Less than what I woulda paid to the IRS.


    It ain't personal, and it ain't me either. I never made 6 figures in my life, dunno what Ravi makes but that ain't the point. The point is that when you raise tax rates the rich guys find ways to avoid paying more. One way or another, the rich do not put their money to more productive uses, the economy suffe4rs as a result, and THAT is the point.
     
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  5. tyroneweaver
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    tyroneweaver Gold Member

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    I'm going to hire McAtl to wash my car.
     
  6. McDowell's
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    McDowell's BANNED

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    It sounds like you are planning to hire two very incompetent people. :lol:
     
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  7. Quantum Windbag
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    Quantum Windbag Gold Member

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    You do know you are going to get hit with another tax hike in 2014, don't you? You should single handily be able to end unemployment at this rate.
     
  8. skipper
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    skipper VIP Member

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    If your post was designed to be funny, that's incompetence.
     
  9. Quantum Windbag
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    Quantum Windbag Gold Member

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    Let me get this straight, raising taxes means less money for the government. You sound like a wingnut now.

    I wonder what real businessmen, ones who actually makes money off of the ups and downs of the economy, has to say about our current fiscal policy.

    Here are 4 quotes, see if you can guess who each of them is.


    1. “My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it….Investment decisions should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.”
    2. “In the case of WPPSS, the “business” contractually earns $22.7 million after tax (via the interest paid on the bonds),and those earnings are available to us currently in cash. We are unable to buy operating businesses with economics close to these. Only a relatively few businesses earn the 16.3% after tax on unleveraged capital that our WPPSS investment does and those businesses, when available for purchase, sell at large premiums to that capital.“
    3. “That’s because bonds are as sound as a dollar – and we view the long-term outlook for dollars as dismal. We believe substantial inflation lies ahead, although we have no idea what the average rate will turn out to be. Furthermore, we think there is a small, but not insignificant, chance of runaway inflation. Such a possibility may seem absurd, considering the rate to which inflation has dropped. But we believe that present fiscal policy – featuring a huge deficit – is both extremely dangerous and difficult to reverse. (So far, most politicians in both parties have followed Charlie Brown’s advice: “No problem is so big that it can’t be run away from.”) Without a reversal, high rates of inflation may be delayed (perhaps for a long time), but will not be avoided. If high rates materialize, they bring with them the potential for a runaway upward spiral.“
    4. “The faith that foreigners are placing in us may be misfounded. When the claim checks outstanding grow sufficiently numerous and when the issuing party can unilaterally determine their purchasing power, the pressure on the issuer to dilute their value by inflating the currency becomes almost irresistible. For the debtor government, the weapon of inflation is the economic equivalent of the “H” bomb, and that is why very few countries have been allowed to swamp the world with debt denominated in their own currency. Our past, relatively good record for fiscal integrity has let us break this rule, but the generosity accorded us is likely to intensify, rather than relieve, the eventual pressure on us to inflate. If we do succumb to that pressure, it won’t be just the foreign holders of our claim checks who will suffer. It will be all of us as well.”


    In contrast, I am sure you can pull up some quotes by Warren Buffet about how we should borrow tax at about 18.5% of GDP and spend at 21%, running endless deficits, and how that will benefit the economy so much more than what the Republicans want to do.

    The thing is, every single quote above came from the same guy that you think is a genius because he feeds into your delusions.

    Buffett's Billions Can't Buy Him Exemption From His Tax-Averse Past - Forbes

    By the way, the really rich, not the people who, like you, actually work for a living, don't see a need to spend their money to avoid taxes. They can simply sit on it until taxes reach a point that it is worthwhile to invest it in something productive. Why do you think there was so little economic movement before taxes dropped in the years after WWII?
     
  10. McDowell's
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    McDowell's BANNED

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    It was meant to point out how ludicrous the OP is and indicate my enjoyment in pointing that out.
     

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