War on The Rich: Dumbest Idea in History of Man

[Wry Catcher]

A progressive income tax on income is a fair tax, since the same percentage of tax is applied equally to rich and poor alike.

Again illustrating that you don't understand the difference between being wealthy and earning high income. Please educate yourself. A high income does not mean you are wealthy. A low income doesn't mean you are poor. A multi-billionaire can earn $30k in income for a year... is he poor?

No, likely his wealth is produced by the import of drugs or his daddy left he and his brother a business. Why do you and Rabbit continue to post non sequiturs?

You have no idea where someone's wealth came from. WTF? Drug dealer or daddy left him and his brother a business? What the hell is that supposed to even mean? Again.... WEALTHY people do not need to earn incomes. If you think that is who is earning high incomes in America, you are ignorant. By and large, the majority of taxpayers in the top marginal bracket are small business owners. ALL small businesses file income tax as individuals.

I doubt, "the majority of taxpayers in the top marginal bracket are small business owners". In fact, I'll post the Forbes 400 and prove you're a liar:

The Richest People in America List - Forbes

Let me add that those with enormous wealth don't leave their assets in the mattress, they are invested somewhere and that they don't declare income is no surprise.

 

[Wry Catcher]

A progressive income tax on income is a fair tax, since the same percentage of tax is applied equally to rich and poor alike.

Again illustrating that you don't understand the difference between being wealthy and earning high income. Please educate yourself. A high income does not mean you are wealthy. A low income doesn't mean you are poor. A multi-billionaire can earn $30k in income for a year... is he poor?

No, likely his wealth is produced by the import of drugs or his daddy left he and his brother a business. Why do you and Rabbit continue to post non sequiturs?

You have no idea where someone's wealth came from. WTF? Drug dealer or daddy left him and his brother a business? What the hell is that supposed to even mean? Again.... WEALTHY people do not need to earn incomes. If you think that is who is earning high incomes in America, you are ignorant. By and large, the majority of taxpayers in the top marginal bracket are small business owners. ALL small businesses file income tax as individuals.

I doubt, "the majority of taxpayers in the top marginal bracket are small business owners". In fact, I'll post the Forbes 400 and prove you're a liar:

The Richest People in America List - Forbes

Let me add that those with enormous wealth don't leave their assets in the mattress, they are invested somewhere and that they don't declare income is no surprise.

Here is another link, there is no war on the wealthy, if there is it is not very successful:

What Does It Take To Make The Forbes 400 Increasingly More And More - Forbes

 

[Contumacious]

[

Here is another link, there is no war on the wealthy, if there is it is not very successful:

Really, fucktard?


Americans Renouncing Citizenship Jumps Sixfold As Tax Law Looms

WASHINGTON -- The number of individuals who renounced their U.S. citizenship jumped to 1,131 in the second quarter of this year, a whopping sixfold increase over the same three-month period in 2012, when just 189 Americans gave up their U.S. passports, as Bloomberg reported Friday.

Although the departing don't always go public with their reasons, taxes seem to be a frequent complaint. Experts attribute the latest surge to tough new measures to be implemented next year by the Internal Revenue Service to locate and tax Americans' assets held overseas.

 

[RKMBrown]

Simple example. Two workers over three years. Worker 1 earns 10 apples, worker 2 earns 20 apples.

You dumb fuck. We are talking about comparing people with 10 million in income to people with 50k in income.
Try comparing those "apples",

Sorry, didn't realize expressing it in apples was too much for you and would go over your head.

 

[zeke]

Simple example. Two workers over three years. Worker 1 earns 10 apples, worker 2 earns 20 apples.

You dumb fuck. We are talking about comparing people with 10 million in income to people with 50k in income.
Try comparing those "apples",

Sorry, didn't realize expressing it in apples was too much for you and would go over your head.

It wasn't over anyone's head but yours. You were comparing apples to apples.
But everybody else was talking apples to oranges.

The guy with lets say, 10 million a year in income can not be compared to the man with 75k in income.
Apples to oranges.

 

[RKMBrown]

Simple example. Two workers over three years. Worker 1 earns 10 apples, worker 2 earns 20 apples.

You dumb fuck. We are talking about comparing people with 10 million in income to people with 50k in income.
Try comparing those "apples",

Sorry, didn't realize expressing it in apples was too much for you and would go over your head.

It wasn't over anyone's head but yours. You were comparing apples to apples.
But everybody else was talking apples to oranges.

The guy with lets say, 10 million a year in income can not be compared to the man with 75k in income.
Apples to oranges.

Why can't they be compared, you just did.

 

[HenryBHough]

Just think! A sufficiently large tax on wealth would have prevented Joe Kennedy from being able to afford a presidency to give to his kid!

Maybe we need such a tax!

 

[zeke]

The guy with lets say, 10 million a year in income can not be compared to the man with 75k in income.
Apples to oranges

Why can't they be compared, you just did

First quote;me. Second quote;you. Feel free to show where I compared them.

 

[Wry Catcher]

[

Here is another link, there is no war on the wealthy, if there is it is not very successful:

Really, fucktard?


Americans Renouncing Citizenship Jumps Sixfold As Tax Law Looms

WASHINGTON -- The number of individuals who renounced their U.S. citizenship jumped to 1,131 in the second quarter of this year, a whopping sixfold increase over the same three-month period in 2012, when just 189 Americans gave up their U.S. passports, as Bloomberg reported Friday.

Although the departing don't always go public with their reasons, taxes seem to be a frequent complaint. Experts attribute the latest surge to tough new measures to be implemented next year by the Internal Revenue Service to locate and tax Americans' assets held overseas.

You're really not very bright. Who are the "Experts" and "seem to be" are not facts, they're opinions based maybe on a fact or maybe on a bias. Only a poorly educated and dull normal (at best) person would suggest this post is evidence of anything.

 

[Wry Catcher]

Why do American's renounce their citizenship? Some people are saying they do because the proliferation of guns in America make our nation unsafe; others because the Republican Party is determined to make the US into a one party state under the control of Plutocrats; Some say because bigotry and racism will lead to civil war in the US, others because the far right is so characteristic in its ideas as to be a clone of Facism as it manifested itself in the 1930's in Germany.


The above is offered as an example of a Fox News Report. Breaking News, "Some people are saying .....

 

[RKMBrown]

The guy with lets say, 10 million a year in income can not be compared to the man with 75k in income.
Apples to oranges

Why can't they be compared, you just did

First quote;me. Second quote;you. Feel free to show where I compared them.

I don't think you understand what the word "compare" means.

 

[MikeK]

Why do American's renounce their citizenship? Some people are saying they do because the proliferation of guns in America make our nation unsafe; others because the Republican Party is determined to make the US into a one party state under the control of Plutocrats; Some say because bigotry and racism will lead to civil war in the US, others because the far right is so characteristic in its ideas as to be a clone of Facism as it manifested itself in the 1930's in Germany.


The above is offered as an example of a Fox News Report. Breaking News, "Some people are saying .....

The only reasons I'm aware of why an American would renounce his/her citizenship is political repudiation, e.g., resentment of our support of Israel, or our Middle East aggressions, etc., or to avoid taxes on or penalties related to hidden assets (which is the most common reason).

If anyone is aware of other credible motivations for formal expatriation I would appreciate learning about them. I should mention there are lots of Americans living abroad, such as in Mexico, because of the climate and the economic advantage. But these people do not renounce their citizenship, nor is there any reason to. They retain their American citizenship and they can return any time they wish to.

 

[MikeK]

Although the departing don't always go public with their reasons, taxes seem to be a frequent complaint. Experts attribute the latest surge to tough new measures to be implemented next year by the Internal Revenue Service to locate and tax Americans' assets held overseas.

(Excerpt)

A new report finds that around the world the extremely wealthy have accumulated at least $21 trillion in secretive offshore accounts. That’s a sum equal to the gross domestic products of the United States and Japan added together. The number may sound unbelievable, but the study was conducted by James Henry, former chief economist at the consultancy McKinsey, an expert on tax havens and offshoring. It was commissioned by Tax Justice Network, a British activist group.

According to an early report on the study in The Guardian, Henry’s research shows that at least £13tn [$21 trillion] – perhaps up to £20tn [$31 trillion] – has leaked out of scores of countries into secretive jurisdictions such as Switzerland and the Cayman Islands with the help of private banks, which vie to attract the assets of so-called high net-worth individuals. Their wealth is, as Henry puts it, “protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy“. According to Henry’s research, the top 10 private banks, which include UBS and Credit Suisse in Switzerland, as well as the US investment bank Goldman Sachs, managed more than £4tn [$6.2 trillion] in 2010, a sharp rise from £1.5tn five years earlier.

Super Rich Hide 21 Trillion Offshore Study Says - Forbes

(Close)

The U.S. Economy has been surreptitiously looted during the past three decades by insiders who bribed and collaborated with politicians who removed and/or altered regulations which formerly had impeded the transfer of assets to hidden offshore accounts.

 

[Boss]

That's all they've got. Fuckers are crazy.

To fucking even post that a multi BILLIONAIRE would only have 30k in income is astoundingly stupid. I mean unbelievably stupid. Amazingly stupid. A billion dollars at .5% return is what, 5 million dollars. And that asshole boss is talking multi billionaire. Amazing. Dude is an idiot.

What you are now talking about is not earned income, it is investment dividends. Raising the top marginal income tax rate does not effect investment dividends... completely different animal.

You are stupid boss. I mean really fucking stupid. You are so stupid it isn't any fun slamming you anymore.
You are that stupid. You want ANOTHER example? Here you go.

A multi-billionaire can earn $30k in income for a year... is he poor?

That says it all right there. A multi billionaire with 30k of income. Stupid dude. Stupid.

And income is income. Wages, dividends, interest, royalties, etc. Lots of ways to earn income. They can even be taxed differently. But if you received money from your job or your investments, that is your income.

Get a fucking clue dude. Really.

Repeating that I am "stupid, stupid, stupid" does not an argument make. Income is not income when it comes to taxation. You have earned income, which is taxed differently from investment dividends. Raising the top marginal rate on earned income doesn't effect the super-wealthy. Investment dividends are usually only taxable when received. If they remained invested and you realized no capital gain, there is nothing to tax. Also, if they are foreign investments, they are not subject to any US taxation. You can't tax the incomes made in other countries, earned or otherwise.

Wealthy people are wealthy, they have no need to earn incomes. They can live very well on the wealth they already have, which the taxes have already been paid. You can raise the earned income tax rate to 100%, you still won't touch the wealth of the super-wealthy.

 

[Boss]

. ALL small businesses file income tax as individuals.

By God, you just keep on giving up examples of how stupid you are.

So no small business files as an LLC. Or an S Corp? Or a partnership. All small business simply fill out Sch C.

Are you trying to be this stupid? Or have you been drinking all day?

Partnerships and corporations are not small businesses, they are corporations.... indicated by the word "corporation." They also have a different tax rate than individual tax payers. As I said, ALL small businesses file as individual tax payers and this makes up the overwhelming majority of top income earners.

 

[The Rabbi]

A progressive income tax on income is a fair tax, since the same percentage of tax is applied equally to rich and poor alike.

Again illustrating that you don't understand the difference between being wealthy and earning high income. Please educate yourself. A high income does not mean you are wealthy. A low income doesn't mean you are poor. A multi-billionaire can earn $30k in income for a year... is he poor?

No, likely his wealth is produced by the import of drugs or his daddy left he and his brother a business. Why do you and Rabbit continue to post non sequiturs?

You have no idea where someone's wealth came from. WTF? Drug dealer or daddy left him and his brother a business? What the hell is that supposed to even mean? Again.... WEALTHY people do not need to earn incomes. If you think that is who is earning high incomes in America, you are ignorant. By and large, the majority of taxpayers in the top marginal bracket are small business owners. ALL small businesses file income tax as individuals.

I doubt, "the majority of taxpayers in the top marginal bracket are small business owners". In fact, I'll post the Forbes 400 and prove you're a liar:

The Richest People in America List - Forbes

Let me add that those with enormous wealth don't leave their assets in the mattress, they are invested somewhere and that they don't declare income is no surprise.

Yeah you're wrong. No question there. Let me post this link to prove it:
San Francisco Is More Expensive Than New York City - Business Insider

 

[The Rabbi]

That's all they've got. Fuckers are crazy.

To fucking even post that a multi BILLIONAIRE would only have 30k in income is astoundingly stupid. I mean unbelievably stupid. Amazingly stupid. A billion dollars at .5% return is what, 5 million dollars. And that asshole boss is talking multi billionaire. Amazing. Dude is an idiot.

What you are now talking about is not earned income, it is investment dividends. Raising the top marginal income tax rate does not effect investment dividends... completely different animal.

You are stupid boss. I mean really fucking stupid. You are so stupid it isn't any fun slamming you anymore.
You are that stupid. You want ANOTHER example? Here you go.

A multi-billionaire can earn $30k in income for a year... is he poor?

That says it all right there. A multi billionaire with 30k of income. Stupid dude. Stupid.

And income is income. Wages, dividends, interest, royalties, etc. Lots of ways to earn income. They can even be taxed differently. But if you received money from your job or your investments, that is your income.

Get a fucking clue dude. Really.

Repeating that I am "stupid, stupid, stupid" does not an argument make. Income is not income when it comes to taxation. You have earned income, which is taxed differently from investment dividends. Raising the top marginal rate on earned income doesn't effect the super-wealthy. Investment dividends are usually only taxable when received. If they remained invested and you realized no capital gain, there is nothing to tax. Also, if they are foreign investments, they are not subject to any US taxation. You can't tax the incomes made in other countries, earned or otherwise.

Wealthy people are wealthy, they have no need to earn incomes. They can live very well on the wealth they already have, which the taxes have already been paid. You can raise the earned income tax rate to 100%, you still won't touch the wealth of the super-wealthy.

Zeke has never had more than $100 at any given time. So wealth to him looks like a hundred dollar bill and a fridge full of Blatz.

 

[zeke]

Zeke has never had more than $100 at any given time. So wealth to him looks like a hundred dollar bill and a fridge full of Blatz.

You can't help yourself can you rabbit. Saying stupid shit is your forte'. (Look it up)

But I tell you what. I will bet you everything in your shopping cart that I have more than 100 dollars. Also, I will bet your library card (that is where you are posting from right?) that I have more money than YOU.

Wanna put your money where your mouth is?

 

[Wry Catcher]

That's all they've got. Fuckers are crazy.

To fucking even post that a multi BILLIONAIRE would only have 30k in income is astoundingly stupid. I mean unbelievably stupid. Amazingly stupid. A billion dollars at .5% return is what, 5 million dollars. And that asshole boss is talking multi billionaire. Amazing. Dude is an idiot.

What you are now talking about is not earned income, it is investment dividends. Raising the top marginal income tax rate does not effect investment dividends... completely different animal.

You are stupid boss. I mean really fucking stupid. You are so stupid it isn't any fun slamming you anymore.
You are that stupid. You want ANOTHER example? Here you go.

A multi-billionaire can earn $30k in income for a year... is he poor?

That says it all right there. A multi billionaire with 30k of income. Stupid dude. Stupid.

And income is income. Wages, dividends, interest, royalties, etc. Lots of ways to earn income. They can even be taxed differently. But if you received money from your job or your investments, that is your income.

Get a fucking clue dude. Really.

Repeating that I am "stupid, stupid, stupid" does not an argument make. Income is not income when it comes to taxation. You have earned income, which is taxed differently from investment dividends. Raising the top marginal rate on earned income doesn't effect the super-wealthy. Investment dividends are usually only taxable when received. If they remained invested and you realized no capital gain, there is nothing to tax. Also, if they are foreign investments, they are not subject to any US taxation. You can't tax the incomes made in other countries, earned or otherwise.

Wealthy people are wealthy, they have no need to earn incomes. They can live very well on the wealth they already have, which the taxes have already been paid. You can raise the earned income tax rate to 100%, you still won't touch the wealth of the super-wealthy.

Why is investment income any different than earned income? Since both are sources of income, why does the investor pay less income tax than the person whose income is derived by his or her labor?

 

[Boss]

Why is investment income any different than earned income? Since both are sources of income, why does the investor pay less income tax than the person whose income is derived by his or her labor?

Because the investor doesn't have to invest. We encourage the investor (who is taking a risk) to invest by offering a lower rate of taxation on his dividends. It is important to us for the investor to invest because this is the source of capital used in economic expansion and growth. Without those investments it becomes virtually impossible to realize growth because no one can afford to finance it. There is not a magic money fairy.

If you raise the tax rate on investment dividends to that of earned income, the result will be little or no investment because it would be financially stupid to take such a risk. You see, with earned income, you are taking no risk. You know that if you work a 40-hr week, you will get a paycheck. If you weren't sure whether or not you'd get a paycheck, would you still report for work? Some people might, because it's better to have a chance of earning a paycheck than not having income... but these people are in need of income, a wealthy investor is not.