A simple point on the economy

[gingermeggs]

Originally posted by: JMapleton

Originally posted by: miketheidiot
where did this myth come from that rich peopel work hard and poor people don't? Based on what i've seen, 'poor people' jobs are a hell of alot more work then 'rich' jobs.

Physical labor is not hard, I've done it. Mental work is the most difficult of all.

I'd like to see you do some physical work, I bet you be blistered and fucked on the first day.
your the type' one day I'd like to lift a shovel to!
I hope I see it in my time.

 

[Zebo]

Originally posted by: JMapleton

Originally posted by: Zebo

Originally posted by: JMapleton

Originally posted by: Zebo
We have to redefine terms of debate to get everyone invested in our nation and not at mercy of 1%ers all the time. I am am not smart enough to do it but one way from a economic perpective, no idea how to get powers that be to abide by such an arrangement, is everyone just keeps what's in their possession, take ownership - from a section 8 project to a farm house in Iowa it's all their's now and we start fresh. The empty assets go by auction. All new national bank, all new currency, giving every adult $100,000 and start over over again for trading and afore mentioned auctions. Old Securities bonds paper leans notes, etc are now worthless..


What's a banking thread without Jews?... JK

The Jews did this very thing every 7 years for hundreds of years of their existence to prevent what we got now. It works.

You're out of your mind. While I am a free market supporter, the only I only believe there should be a large estate tax for the wealthy only, at least 75% on estates over $5 million with no loopholes.

But to take wealth from people who earned it and give it to joe six pack is ridiculous and unethical. Average people don't have money or wealth these days because they sit on their butt and watch football, and wealthy handle their business and build wealth.

I would not even have taxes till you hit a million. i.e. leisure class or super rich.

Question - What to do about your inheritance tax which a Johnson heir (J&J), who has his stock in a secret Bahamian bank, who pays no capital gains on stock sales nor income tax on dividends since his 'corp' is 'foreign' let alone inheritance which shares are passed to heir out of IRS reach?

These are the people I'm talking about - not your small business owners or Doctors - who are working too fuckin hard for the former and the government to get out of excessive taxation (which they are today IMO)

Very few wealthy people hide their money offshore because these days it's nearly impossible to do it and get away with it. You cannot even hide your money in Switzerland anymore without them reporting it to the irs, I've looked into it.

As far as stock holdings, it's very simple to figure out who owns what. If Forbes magazine can figureout ownership of companies and inheritances so can the us government. The government could also do an audit of every publically traded company and require lists of shareholders and simply follow the money. Sort of an invasion of privacy, but it woudl work.

Forbes doesn't know shit but whats public. The richest men in the world are not even on the list. Audit them? they do, and they show Acme investments, Bahamas as the owner of x shares, so what? Other than paying no US tax on income or gains because it's a foreign corp (these rules are setup to encourage foreign investment in US markets) that's all IRS gets.

I didn't say anything about swiss who has lost almost all their business to the Islands for the reasons you state, they are no longer secret. There is whole congressional investigations and white papers of the scenario I describe - whole private banking arms of all big banks setup to do just that too. walk in to Barclays with 2 million or more and get back to me ok.
In the meantime here are two links with the detailed mechanics.
http://www.motherjones.com/pol...illion-dollar-hideaway
http://www.motherjones.com/pol...ss-offshore-shell-game

 

[gingermeggs]

There's another way to really hurt these fuckbags!
Somehow, electronically, erase the records of these offshore holdings banks, so the people hiding those funds can no longer draw on them, that would shake up the system, I'd love to see something like that go down.

 

[winnar111]

Originally posted by: miketheidiot
where did this myth come from that rich peopel work hard and poor people don't? Based on what i've seen, 'poor people' jobs are a hell of alot more work then 'rich' jobs.

Probably because average joe on Wall Street worked many more hours than the average joe serving him coffee at 7 am.

 

[Genx87]

Originally posted by: Zebo
1% owns 90% of wealth in this country and pols DO NOT get elected w/o their support. Largely apolitical, growing profits is only MO, and why no change on the warfare state, the open borders, the outsourcing, the privatization of profits and socialism loses has been consistently anti-proletariat, 99% of us, for at least 40 years. And why I use the term Black Bush when it comes to Obama and don't take too serious politics in general. Not a dimes worth of difference.

Top 1% owns about 34-35% of the wealth in this nation. They pay about 36% of the federal income taxes and make about 32% of the income.

 

[chess9]

Originally posted by: Genx87

Originally posted by: Zebo
1% owns 90% of wealth in this country and pols DO NOT get elected w/o their support. Largely apolitical, growing profits is only MO, and why no change on the warfare state, the open borders, the outsourcing, the privatization of profits and socialism loses has been consistently anti-proletariat, 99% of us, for at least 40 years. And why I use the term Black Bush when it comes to Obama and don't take too serious politics in general. Not a dimes worth of difference.

Top 1% owns about 34-35% of the wealth in this nation. They pay about 36% of the federal income taxes and make about 32% of the income.

Those figures mean nothing. In fact, they are tantamount to lies because the rich have a whole slew of tax breaks not useable by the poor and middle income people. I'd rather not start an exegesis of the tax code here, but suffice it to say your assertion is one of the popular myths propagated by the right wing tax whiners.

-Robert

 

[winnar111]

Originally posted by: chess9

Originally posted by: Genx87

Originally posted by: Zebo
1% owns 90% of wealth in this country and pols DO NOT get elected w/o their support. Largely apolitical, growing profits is only MO, and why no change on the warfare state, the open borders, the outsourcing, the privatization of profits and socialism loses has been consistently anti-proletariat, 99% of us, for at least 40 years. And why I use the term Black Bush when it comes to Obama and don't take too serious politics in general. Not a dimes worth of difference.

Top 1% owns about 34-35% of the wealth in this nation. They pay about 36% of the federal income taxes and make about 32% of the income.

Those figures mean nothing. In fact, they are tantamount to lies because the rich have a whole slew of tax breaks not useable by the poor and middle income people. I'd rather not start an exegesis of the tax code here, but suffice it to say your assertion is one of the popular myths propagated by the right wing tax whiners.

-Robert

You mean like the Earned Income Credit and the so called Making Work Pay Credit?

 

[Genx87]

Originally posted by: chess9

Originally posted by: Genx87

Originally posted by: Zebo
1% owns 90% of wealth in this country and pols DO NOT get elected w/o their support. Largely apolitical, growing profits is only MO, and why no change on the warfare state, the open borders, the outsourcing, the privatization of profits and socialism loses has been consistently anti-proletariat, 99% of us, for at least 40 years. And why I use the term Black Bush when it comes to Obama and don't take too serious politics in general. Not a dimes worth of difference.

Top 1% owns about 34-35% of the wealth in this nation. They pay about 36% of the federal income taxes and make about 32% of the income.

Those figures mean nothing. In fact, they are tantamount to lies because the rich have a whole slew of tax breaks not useable by the poor and middle income people. I'd rather not start an exegesis of the tax code here, but suffice it to say your assertion is one of the popular myths propagated by the right wing tax whiners.

-Robert

Heh those facts mean nothing eh? In what way? These numbers werent taken from a right wing blog either. Regardless of tax breaks the top 1% pays a good % of our income taxes in this country. They also dont own 90% of the wealth either.

 

[nobodyknows]

Originally posted by: winnar111

Originally posted by: miketheidiot
where did this myth come from that rich peopel work hard and poor people don't? Based on what i've seen, 'poor people' jobs are a hell of alot more work then 'rich' jobs.

Probably because average joe on Wall Street worked many more hours than the average joe serving him coffee at 7 am.

That's not exactly true, especially when considering that the guy serving coffee isn't making enough money to survive on just one job.

 

[nobodyknows]

Originally posted by: Genx87

Originally posted by: chess9

Originally posted by: Genx87

Originally posted by: Zebo
1% owns 90% of wealth in this country and pols DO NOT get elected w/o their support. Largely apolitical, growing profits is only MO, and why no change on the warfare state, the open borders, the outsourcing, the privatization of profits and socialism loses has been consistently anti-proletariat, 99% of us, for at least 40 years. And why I use the term Black Bush when it comes to Obama and don't take too serious politics in general. Not a dimes worth of difference.

Top 1% owns about 34-35% of the wealth in this nation. They pay about 36% of the federal income taxes and make about 32% of the income.

Those figures mean nothing. In fact, they are tantamount to lies because the rich have a whole slew of tax breaks not useable by the poor and middle income people. I'd rather not start an exegesis of the tax code here, but suffice it to say your assertion is one of the popular myths propagated by the right wing tax whiners.

-Robert

Heh those facts mean nothing eh? In what way? These numbers werent taken from a right wing blog either. Regardless of tax breaks the top 1% pays a good % of our income taxes in this country. They also dont own 90% of the wealth either.

In the United States at the end of 2001, 10% of the population owned 71% of the wealth, and the top 1% controlled 38%. On the other hand, the bottom 40% owned less than 1% of the nation's wealth

 

[Genx87]

Originally posted by: nobodyknows

Originally posted by: Genx87

Originally posted by: chess9

Originally posted by: Genx87

Originally posted by: Zebo
1% owns 90% of wealth in this country and pols DO NOT get elected w/o their support. Largely apolitical, growing profits is only MO, and why no change on the warfare state, the open borders, the outsourcing, the privatization of profits and socialism loses has been consistently anti-proletariat, 99% of us, for at least 40 years. And why I use the term Black Bush when it comes to Obama and don't take too serious politics in general. Not a dimes worth of difference.

Top 1% owns about 34-35% of the wealth in this nation. They pay about 36% of the federal income taxes and make about 32% of the income.

Those figures mean nothing. In fact, they are tantamount to lies because the rich have a whole slew of tax breaks not useable by the poor and middle income people. I'd rather not start an exegesis of the tax code here, but suffice it to say your assertion is one of the popular myths propagated by the right wing tax whiners.

-Robert

Heh those facts mean nothing eh? In what way? These numbers werent taken from a right wing blog either. Regardless of tax breaks the top 1% pays a good % of our income taxes in this country. They also dont own 90% of the wealth either.

In the United States at the end of 2001, 10% of the population owned 71% of the wealth, and the top 1% controlled 38%. On the other hand, the bottom 40% owned less than 1% of the nation's wealth

Thank you for backing up my numbers.

 

[piasabird]

Why is it when the Oil Industry gets 10% profit we get upset?

The profit margin at the Grocery store could be as high as %50 or more. Where is the real extortion?

 

[quest55720]

Originally posted by: piasabird
Why is it when the Oil Industry gets 10% profit we get upset?

The profit margin at the Grocery store could be as high as %50 or more. Where is the real extortion?

You missed the memo oil companies are evil. Since they are evil any profits they make are bad.

 

[chess9]

Originally posted by: winnar111

Originally posted by: chess9

Originally posted by: Genx87

Originally posted by: Zebo
1% owns 90% of wealth in this country and pols DO NOT get elected w/o their support. Largely apolitical, growing profits is only MO, and why no change on the warfare state, the open borders, the outsourcing, the privatization of profits and socialism loses has been consistently anti-proletariat, 99% of us, for at least 40 years. And why I use the term Black Bush when it comes to Obama and don't take too serious politics in general. Not a dimes worth of difference.

Top 1% owns about 34-35% of the wealth in this nation. They pay about 36% of the federal income taxes and make about 32% of the income.

Those figures mean nothing. In fact, they are tantamount to lies because the rich have a whole slew of tax breaks not useable by the poor and middle income people. I'd rather not start an exegesis of the tax code here, but suffice it to say your assertion is one of the popular myths propagated by the right wing tax whiners.

-Robert

You mean like the Earned Income Credit and the so called Making Work Pay Credit?

No, I mean really significant tax breaks, not a few hundred dollars. The typical person earning over $500,000 a year probably gets another $25,000 to $50,000 in tax breaks if they have just a half decent accountant. I paid no federal income tax for about 8 years running when I owned several rental properties, for instance. My Schedule E depreciation losses were very good to me. You obviously haven't got a clue....

And something else, how many hourly wage employees eat in the corporate dining room, have lavish expense accounts, free travel on the corporate jet, a corporate car and driver at their beck and call, and so much more? The value of untaxed bennies to high wage earners is huge.

-Robert