1% CEO Confronts OWS Protesters, owns them

[thegimp03]

That lady was frothing at the mouth like most of the Occupy rabid dogs.

 

[sunzt]

I work for $10 an hour and when I think of how much of my income goes to the government, I prefer to consider ALL of it. Income, property, sales- ALL of it. Your way is idiotic. If it isn't his to spend because the government took it, it counts.

I think of it that way as well, however, that isn't the focus of the debate. The whole 'tax' fairness and reform issues are framed around federal tax policies.

 

[highland145]

Something that the hard right in here fail to grasp for some reason.

May be but I'm not seeing the hard/any left refuse corporate $$.

 

[sunzt]

No, he's really not. He was right one time, but it's not a surprise since his company specializes in European assets, so he's always taking it hard against the US because it bolsters his position that the EU is better to invest into.

Now with Greece, Spain, Italy all tanking, I would imagine he'd be singing a different tune. LOL.

I'd imagine he's gonna get a lot of tax write-offs this year from those euro investments lol.

 

[Londo_Jowo]

What exactly does Peter Schiff's company contribute to the economy? He and his 150 people are just parasites on the system, skimming off client money.

Obviously, his company and employees provide a service that their clients have determined is worth the fees they are charged.

 

[Matt1970]

35%+7%+3.8%+1.5%= pretty damn close to 50%. There is no cap on medicare. And don't forget there is a special tax on high earners in NY.

AND they just raised the state maximum to 8.82%.
35+8.82+1.5+3.8 = 49.12%.

And don't forget that almost anything he buys with his remaining 50% is taxed at 8%. For ever $1 he makes he can actually purchase $0.46 worth of goods.

 

[CZroe]

I think of it that way as well, however, that isn't the focus of the debate. The whole 'tax' fairness and reform issues are framed around federal tax policies.

No, they are saying that the feds should charge more because the 1% aren't already paying their "fair share." They are.

You think she reconsidered what was far when she fell back on the "get rid of Bush tax cuts!" schtick? No, she was just falling back to partisan lines and demands because she assumes that they are justified and inarguable without having to recalculate or think about "what's fair."

 

[sunzt]

And don't forget that almost anything he buys with his remaining 50% is taxed at 8%. For ever $1 he makes he can actually purchase $0.46 worth of goods.

I think you mean 0.43?

If you frame it like that then, don't forget that everyone else can actually purchase 0.45, 0.50, 0.53, 0.63, and 0.73 worth of goods for every $1 made. Also, those who can purchase 0.73 and 0.63 per dollar made will pretty much live in poverty in NYC.

 

[sunzt]

No, they are saying that the feds should charge more because the 1% aren't already paying their "fair share." They are.

You think she reconsidered what was far when she fell back on the "get rid of Bush tax cuts!" schtick? No, she was just falling back to partisan lines and demands because she assumes that they are justified and inarguable without having to recalculate or think about "what's fair."

"fair share" means different things for different people. If you ask me what my fair share is i'll tell you that it's less than what I currently am paying. It's not really up to us to determine what is "fair". Lets not forget that Bush tax cuts were not just for the 1% and would increase taxes on many people, and maybe even on that lady.

And i'm not sure what you're saying "no" to. Having the feds charge more is exactly what federal tax policy is.

 

[Karl Agathon]

May be but I'm not seeing the hard/any left refuse corporate $$.

Wait a minute!! I thought only right wingers accepted corporate $$$$$ Say it isnt so!!!!!!!!

 

[shortylickens]

mine was more of a blanket statement pointed at the dirt bags that i see camping out. i do understand that there are a bunch of people that are not getting work and are model members of society.

in your case, not trying to be a jerk, but have you considered a different career?

Its not a jerk, its a very wise suggestion.
Hynix semiconductor went out of business and Tektronix didnt renew my contract. Micron wasnt interested in me.
I am going back to school for business. Been trying to get any kind of work I can but it just aint happening. I'm NOT proud. I'll flip burgers, wait tables, whatever. No one wants me for those jobs. I also tried for good jobs but no one even wants to talk with me, cuz I'm not perfect.
In fact I just saw an article on this. 12 million out of work, 3 million job openings. No one wants to fill them. They'd rather wait for the perfect employee, who does not exist.

BUT, I'll be damned if I drive up to New York and camp out telling successful people they suck. That is retarded beyond all belief.

 

[xj0hnx]

Its not a jerk, its a very wise suggestion.
Hynix semiconductor went out of business and Tektronix didnt renew my contract. Micron wasnt interested in me.
I am going back to school for business. Been trying to get any kind of work I can but it just aint happening. I'm NOT proud. I'll flip burgers, wait tables, whatever. No one wants me for those jobs. I also tried for good jobs but no one even wants to talk with me, cuz I'm not perfect.
In fact I just saw an article on this. 12 million out of work, 3 million job openings. No one wants to fill them. They'd rather wait for the perfect employee, who does not exist.

BUT, I'll be damned if I drive up to New York and camp out telling successful people they suck. That is retarded beyond all belief.

When you apply for shit jobs don't list all your good credentials, play yourself down, sometimes being over qualified is worse than under qualified.

 

[Corporate Thug]

So, he was just doing it to feel better about himself? Um, congrats I guess.

Seems a bit douchy if you ask me.

so when the 1% speak their mind its douchy, but its cool with the 99% do it? The guy is just doing the same thing that the rest of the "occupiers" are.

 

[JS80]

His effective tax rate is probably ~14%

How do you figure? He's not a hedge fund manager so he doesn't get carried interest and he rents his place so he has no mortgage deduction. It's probably close to the 50% he quoted.

 

[First]

The CEO in the OP is Peter Schiff, and his predictions and credibility (i.e. lack thereof) have been well documented here. Dude is laughable: http://forums.anandtech.com/search.php?searchid=1226007

Plus, Schiff's effective federal tax rate after deductions (property and what have you) is nowhere near 35%. Like halik said, probably like 14% or something in the teens at least. Nowhere near 50% with all state and local taxes included.

 

[glenn1]

Its not a jerk, its a very wise suggestion.
Hynix semiconductor went out of business and Tektronix didnt renew my contract. Micron wasnt interested in me.
I am going back to school for business. Been trying to get any kind of work I can but it just aint happening. I'm NOT proud. I'll flip burgers, wait tables, whatever. No one wants me for those jobs. I also tried for good jobs but no one even wants to talk with me, cuz I'm not perfect.
In fact I just saw an article on this. 12 million out of work, 3 million job openings. No one wants to fill them. They'd rather wait for the perfect employee, who does not exist.

BUT, I'll be damned if I drive up to New York and camp out telling successful people they suck. That is retarded beyond all belief

The 4 jobs applicants for every job posting figure maybe accurate, but it's probably also accurate to say that many of those applicants are in no way even remotely qualified for the job posting for. in a poor economy like this that phenomenon becomes even more pronounced and you can you see people carpet bomb a resume to hundreds of companies.

 

[senseamp]

Obviously, his company and employees provide a service that their clients have determined is worth the fees they are charged.

The service they provide is they take clients money, invest it in foreign stocks, and take a percentage. It's free money for adding nothing productive to society. They would be doing it even if they had to pay 20% more in taxes. This idea of Peter Schiff parading around saying we need to pamper him because he's employing 150 people is a big joke. His "contribution" to America is to take money that could be invested here and sending it overseas or parking it in precious metals and commodities, after taking a cut for himself. He has a negative utility to American society.

 

[JS80]

The service they provide is they take clients money, invest it in foreign stocks, and take a percentage. It's free money for adding nothing productive to society. They would be doing it even if they had to pay 20% more in taxes. This idea of Peter Schiff parading around saying we need to pamper him because he's employing 150 people is a big joke. His "contribution" to America is to take money that could be invested here and sending it overseas or parking it in precious metals and commodities, after taking a cut for himself. He has a negative utility to American society.

Do you feel the same way about Warren Buffett?

 

[senseamp]

Do you feel the same way about Warren Buffett?

No, because he invests mainly in US companies that make stuff and does not whine about his taxes being too high, just the opposite. And he's giving it all to charity anyways. Comparing Schiff to Buffett is like comparing crap to chocolate because both are brown.

 

[Doppel]

Unwatchable and did not finish. Woman screaming and schiff with typical play book first page response.

 

[masteryoda34]

love Peter Schiff

http://www.youtube.com/watch?v=2I0QN-FYkpw

 

[JS80]

No, because he invests mainly in US companies that make stuff and does not whine about his taxes being too high, just the opposite. And he's giving it all to charity anyways. Comparing Schiff to Buffett is like comparing crap to chocolate because both are brown.

lol like his investment in Goldman Sachs? loliberals

 

[dmcowen674]

His effective tax rate is probably ~14%

He was just spewing one lie after another.

His tax rate is closer to 11% and I'm sure he finds ways to not even pay that.

 

[jman19]

And the overhead from the people he employs.

fail

 

[senseamp]

lol like his investment in Goldman Sachs? loliberals

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