How much do extremely wealthy people owe to the society that gave them the chance to prosper so much?

[Admiral Rockwell Tory]

You never heard of the terms, " "From each according to his ability, to each according to his needs" which was popularized by Karl Marx?

I taught government and economics classes for 21 years as a public school teacher. You are definitely ignorant!

I was just being obtuse. I know that slogan but honestly I'm not interested in Marx.

You used the same reasoning in your post about how the rich should help the hamburger flipper!

 

[Admiral Rockwell Tory]

Surely something, right? I see a lot of people talk like taxes are theft. Is it not just our obligation?

If you knew something about taxes I suppose you'd have a point, but that said, I'd gut Google, Amazon, Facebook, Twitter & USPS for starts.

Why? Don't use them!

 

[bripat9643]

Utter horseshit. Just ask a few landlords how easy it is to make money from rental property.

Why it's cheaper to buy on a 30-year mortgage or whatever the bank offers than it is to rent. People who are responsible for their own property keep it up and make it last longer.

No, the reason it is cheaper to buy than to rent is that there are tax laws deliberately designed to benefit the wealthy.
When you are landlord, you can write off all repairs, pay yourself, take depreciation, etc.
Renters get ZERO tax breaks at all, and banks won't give poor people a mortgage, even if they can prove they have never defaulted on their rent.
The tax laws and bank practices are incredibly discriminatory, unfair, and fraudulent.

Why shouldn't you be able to write of repairs, your salary and depreciation? The 16th amendment allows the government to tax INCOME, which is defined as revenue minus expenses.

You are incredibly stupid.

You have my intent backwards.
Nothing wrong with landlords writing off expenses.
What is wrong is renters being unable to write off their actual cost of living, (doing business).
Rent should be a legal tax write off.

You just said it was wrong for landlords to write off their expenses, moron.

You actually believe I should be able to deduct my mortgage, my food, my gas and vehicle maintenance, my electric bill, my cell phone and my internet?

 

[Rigby5]

There are SOME people who get wealthy by virtue of creativeness, invention, hard work, etc., but very FEW.
Once you have money, it is easy to just loan it out and make big bucks.
For example, if you simply have a good enough credit rating, you do not have to put money down to buy rental properties, and then the tenants actually make the payments, and buy the house for you as the landlord.
Most of the wealthy product nothing and pay almost nothing in taxex.
They can pay themselves in stock options, so they only pay the minimal capital gains tax rate.

How do you get a good credit rating? By being responsible with your money and paying your bills.

Also, if I have a good credit rating and use it to acquire a rental property. Have I not provided something someone wants, why would I do that if no one WANTED to use it?

Being responsible with your money and paying your bills will not get you enough to allow you to buy rentals with no money down.
You have to inherit cash, stocks, other properties, etc.

When landlords buy rental properties, they are not providing anything, because they are not building the property. They are competing against those who want to become home owners, so instead inflate housing prices and are removing housing from the market, not providing anything.

Wrong, turd. Many people who made a basic wage have managed to build real estate empires. Landlords provide people who can't afford to buy a house the means to live in one. All your theories about real estate are utter horseshit.

Rarely do landlords build any housing.
But they get such huge tax benefits from being landlords, they can even sell shares so that others can use the tax write off. It is a total tax scam that allows landlords to force home prices almost twice what they should be. It prevents people from being able to afford their own home, and that makes most people economic slaves to landlords.
The fair way would be to allow renters to write off their cost of doing business, (rent and food).

 

[Anomalism]

I'd gut Google, Amazon, Facebook, Twitter & USPS for starts.

Cool.

Anybody else on board?

 

[BS Filter]

Many wealthy people give millions to charities and hospitals that the population knows nothing about.

 

[Admiral Rockwell Tory]

Utter horseshit. Just ask a few landlords how easy it is to make money from rental property.

Why it's cheaper to buy on a 30-year mortgage or whatever the bank offers than it is to rent. People who are responsible for their own property keep it up and make it last longer.

No, the reason it is cheaper to buy than to rent is that there are tax laws deliberately designed to benefit the wealthy.
When you are landlord, you can write off all repairs, pay yourself, take depreciation, etc.
Renters get ZERO tax breaks at all, and banks won't give poor people a mortgage, even if they can prove they have never defaulted on their rent.
The tax laws and bank practices are incredibly discriminatory, unfair, and fraudulent.

Why shouldn't you be able to write of repairs, your salary and depreciation? The 16th amendment allows the government to tax INCOME, which is defined as revenue minus expenses.

You are incredibly stupid.

"write of"??????????

 

[Anomalism]

You used the same reasoning in your post about how the rich should help the hamburger flipper!

Well then maybe not everything Marx said was wrong or evil.

 

[Donald H]

How much do extremely wealthy people owe to the society that gave them the chance to prosper so much?

How encouraging that finally the right question is being asked!

 

[Admiral Rockwell Tory]

You used the same reasoning in your post about how the rich should help the hamburger flipper!

Well then maybe not everything Marx said was wrong or evil.

Wrong again. Communism is never right about anything!

 

[bripat9643]

Utter horseshit. Just ask a few landlords how easy it is to make money from rental property.

Why it's cheaper to buy on a 30-year mortgage or whatever the bank offers than it is to rent. People who are responsible for their own property keep it up and make it last longer.

No, the reason it is cheaper to buy than to rent is that there are tax laws deliberately designed to benefit the wealthy.
When you are landlord, you can write off all repairs, pay yourself, take depreciation, etc.
Renters get ZERO tax breaks at all, and banks won't give poor people a mortgage, even if they can prove they have never defaulted on their rent.
The tax laws and bank practices are incredibly discriminatory, unfair, and fraudulent.

Why shouldn't you be able to write of repairs, your salary and depreciation? The 16th amendment allows the government to tax INCOME, which is defined as revenue minus expenses.

You are incredibly stupid.

"write of"??????????

Write off.

 

[bripat9643]

You used the same reasoning in your post about how the rich should help the hamburger flipper!

Well then maybe not everything Marx said was wrong or evil.

That is the most evil thing he said.

 

[Admiral Rockwell Tory]

Utter horseshit. Just ask a few landlords how easy it is to make money from rental property.

Why it's cheaper to buy on a 30-year mortgage or whatever the bank offers than it is to rent. People who are responsible for their own property keep it up and make it last longer.

No, the reason it is cheaper to buy than to rent is that there are tax laws deliberately designed to benefit the wealthy.
When you are landlord, you can write off all repairs, pay yourself, take depreciation, etc.
Renters get ZERO tax breaks at all, and banks won't give poor people a mortgage, even if they can prove they have never defaulted on their rent.
The tax laws and bank practices are incredibly discriminatory, unfair, and fraudulent.

Why shouldn't you be able to write of repairs, your salary and depreciation? The 16th amendment allows the government to tax INCOME, which is defined as revenue minus expenses.

You are incredibly stupid.

"write of"??????????

Write off.

More or less you do, if you take the standard deduction.

 

[Anomalism]

Wrong again. Communism is never right about anything!

So one couldn't agree with a single thing that came out of that man's mouth without being a communist?

 

[Toddsterpatriot]

All rich people did not acquire their money by inheriting it. They acquired it by inventing, creating, and supplying things that other people WANTED. Where would we be as a society without the things they have given our society.

The same people who complain about the rich are the first ones in line to buy their latest inventions/creations. Hilarious.

There are SOME people who get wealthy by virtue of creativeness, invention, hard work, etc., but very FEW.
Once you have money, it is easy to just loan it out and make big bucks.
For example, if you simply have a good enough credit rating, you do not have to put money down to buy rental properties, and then the tenants actually make the payments, and buy the house for you as the landlord.
Most of the wealthy product nothing and pay almost nothing in taxex.
They can pay themselves in stock options, so they only pay the minimal capital gains tax rate.

Most of the wealthy product nothing and pay almost nothing in taxex.
They can pay themselves in stock options, so they only pay the minimal capital gains tax rate.

First they have to pay the tax on the stock option.
And to get the capital gain, the stock has to go up in price.
How many of the wealthy can do that? You have a number or percentage behind your claim?

 

[Admiral Rockwell Tory]

Wrong again. Communism is never right about anything!

So one couldn't agree with a single thing that came out of that man's mouth without being a communist?

If he said, "It's cold outside", I would ask someone else!

 

[bripat9643]

Utter horseshit. Just ask a few landlords how easy it is to make money from rental property.

Why it's cheaper to buy on a 30-year mortgage or whatever the bank offers than it is to rent. People who are responsible for their own property keep it up and make it last longer.

No, the reason it is cheaper to buy than to rent is that there are tax laws deliberately designed to benefit the wealthy.
When you are landlord, you can write off all repairs, pay yourself, take depreciation, etc.
Renters get ZERO tax breaks at all, and banks won't give poor people a mortgage, even if they can prove they have never defaulted on their rent.
The tax laws and bank practices are incredibly discriminatory, unfair, and fraudulent.

Why shouldn't you be able to write of repairs, your salary and depreciation? The 16th amendment allows the government to tax INCOME, which is defined as revenue minus expenses.

You are incredibly stupid.

"write of"??????????

Write off.

More or less you do, if you take the standard deduction.

No you don't.

 

[Anomalism]

If he said, "It's cold outside", I would ask someone else!

You're a teacher?

 

[Rigby5]

Utter horseshit. Just ask a few landlords how easy it is to make money from rental property.

Why it's cheaper to buy on a 30-year mortgage or whatever the bank offers than it is to rent. People who are responsible for their own property keep it up and make it last longer.

No, the reason it is cheaper to buy than to rent is that there are tax laws deliberately designed to benefit the wealthy.
When you are landlord, you can write off all repairs, pay yourself, take depreciation, etc.
Renters get ZERO tax breaks at all, and banks won't give poor people a mortgage, even if they can prove they have never defaulted on their rent.
The tax laws and bank practices are incredibly discriminatory, unfair, and fraudulent.

Why shouldn't you be able to write of repairs, your salary and depreciation? The 16th amendment allows the government to tax INCOME, which is defined as revenue minus expenses.

You are incredibly stupid.

You have my intent backwards.
Nothing wrong with landlords writing off expenses.
What is wrong is renters being unable to write off their actual cost of living, (doing business).
Rent should be a legal tax write off.

You just said it was wrong for landlords to write off their expenses, moron.

You actually believe I should be able to deduct my mortgage, my food, my gas and vehicle maintenance, my electric bill, my cell phone and my internet?

My complaint was renters not getting the same cost of doing business tax write offs, not that landlords should not get reasonable tax write offs.
And yes, that should include owner/renter write offs for mortgage/rent, food, utilities, transportation costs associated with getting to and from employment, etc.
Cell phone and internet may be the only thing that could be considered unessential entertainment, on the list.
Business get 100% writeoff, but individuals get zero write offs except the standard deduction. Which is now $12k I believe. That is less than half what the costs of living really are I would guess.

 

[DukeU]

When landlords buy rental properties, they are not providing anything,

They are buying with the good credit they earned and are providing housing for someone else. It is a transaction both parties consent to and benefit from. If it were not something that was wanted by many people they would not waste their time to acquire it.