Lessons For Tax the Rich Morons

Discussion in 'Politics' started by LogikAndReazon, Jul 26, 2012.

  1. LogikAndReazon
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    LogikAndReazon Gold Member

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    On Tuesday, the New York Post ran a headline that said, “Denise selling out USA.” They claim that Denise Rich, millionaire ex-wife of oil tycoon Marc Rich (whom the Post describes as a “fugitive tax cheat”) stands to gain millions by ceasing to be American. Why isn’t the Post mad at the government, whose policies have made renouncing your citizenship “the ‘It-thing’ to do”? This administration seems to think milking the rich dry will solve all our problems, but as Nick Gillespie says, “When you tax something, you get less of it.” Tax the rich more, and you wind up with fewer rich people to tax.

    After Facebook cofounder Eduardo Saverin renounced his American citizenship in 2011, Senator Chuck Schumer got away with saying, “Saverin has turned his back on the country that welcomed him and kept him safe, educated him, and helped him become a billionaire.” Schumer told the press that Saverin had “defriended America” and the press loved the sound bite. We discussed it on Fox News’ Red Eye and I found the whole thing so infuriating I had trouble speaking English. Saverin’s family brought millions of dollars into the country when they moved here from Brazil. He paid through the nose for his Harvard education and during that time he helped create a trillion-dollar corporation. Today’s tax structure says he’d be charged around $67 million NOT to renounce his citizenship. What would you do?

    “Tax the rich more, and you wind up with fewer rich people to tax.”

    My brother works in social media and tells me the tech industry is petrified of Schumer. He claims Saverin has invested hundreds of millions in the US tech industry, creating thousands of jobs. Schumer’s bill bars Saverin from investing in US companies, and the people he’s employed are worried they’ll soon be unemployed. So to pay off a $15-trillion debt, Schumer tries to squeeze $67 million out of a guy who’s already giving America hundreds of millions. The net result is hundreds of millions less than we started with and thousands of jobs possibly flushed down the toilet. As Bernard Mandeville wrote in 1714:

    Luxury
    Employ’d a Million of the Poor….

    Millionaires may deny it as a motive for expatriation, but they undeniably benefit from the tax money they save when they renounce their American citizenship. Abex chairman Michael D. Dingham kissed America goodbye and moved to Nassau. Kenneth Dart of Dart plastics did the same before moving to Belize. So did money manager Mark Mobius before returning to Germany. Plastics mogul Frederick Krieble left America behind when he spread his wings and flew to the Caribbean. Their moves saved them tens of millions and lost us much more.

    Obama is a fundraiser and community organizer. He is not a wealth creator. Yet his administration acts as if they have the expertise to tell real wealth creators how to handle their business.



    Chasing Away the Rich - Taki's Magazine
     
  2. Oldstyle
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    Oldstyle Gold Member

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    The people with massive amounts of wealth that Progressives like Shumer want to tax are not idiots...they will do whatever it takes to protect their assets from being seized. When Great Britain raised it's taxes on the wealthy, rich Brits moved to friendlier climates. When States like New York and California raised their tax rates many of the wealthy "moved" to States like Florida. Denise Rich renouncing her citizenship to save millions in taxes simply illustrates that even rich liberals aren't idiots when it comes to maintaining their wealth.
     
  3. Claudette
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    Claudette Gold Member

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    Yup. They will move themselves and their money to friendly places.

    Of course folks feel the rich should pay more. Of course everyone wants somebody elses taxes raised. Not their own. They dont' seem to realize that those "rich" folks pay 60% of the Fed taxes as it is. No rich? Then the middle class would be picking up that very expensive tab.

    The poor pay for nothing now and will continue to pay for nothing. The 49% who pay no Fed taxes.
     
  4. WillowTree
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    WillowTree Diamond Member

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    50% of all Americans are in the leecher class.
     
  5. LogikAndReazon
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    LogikAndReazon Gold Member

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    "As the much more mathematically inclined Bill Whittle explains, this administration is spending $10 billion a day. If you taxed every millionaire in the country at 100% you still wouldn’t be able to take a chip out of the deficit. When Whittle gives all millionaires’ wealth to the government and adds all of the Fortune 500’s top revenue, all the ad dollars from the Super Bowl, and every professional sports star’s full salary, he says it covers about six months of government spending. That leaves us with no rich people, no corporations, and no jobs.

    Liberals couldn’t care less that the IRS crackdown has caused 1,800 people to turn in their passports last year. Even the most frivolous socialite is great for the economy........"



    Chasing Away the Rich - Taki's Magazine
     
  6. Jarhead
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    Jarhead Gold Member

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    Ironically, many will likely not care if the rich leave the country. In their eyes, that will mean less people they have to be jealous of.
     
  7. Oldstyle
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    Oldstyle Gold Member

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    It brings to mind the Goose that laid the golden egg. In their dogged determination to keep the entitlements going out, Progressives are willing to kill the very thing that supports those entitlements. And when that goose is dead they're going to be scratching their heads wondering why they aren't getting any more golden eggs.
     
  8. LogikAndReazon
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    LogikAndReazon Gold Member

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    They are very ungrateful parasites.........................
     
  9. LogikAndReazon
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    LogikAndReazon Gold Member

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    Envy is a terrible thing to waste..............Proletariat Arise !!!!!!!!!!!!!!!!!!!!!!!
     
  10. buckeye45_73
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    buckeye45_73 Lakhota's my *****

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    Yep, as soon as rich democrats give up their money, then I'll look into believing them, but until then I do as they do, not as they say.
     

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