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Check my sig line. That isnt snark. I honestly dont know.How many congressional republicans support a flat tax?No. You are arguing that tax advantaged investments are good for you and your clients. I am arguing they are bad for society as a whole. Both are correct.We'll just have to disagree, huh? Either way, a flat tax won't happen.No. It is a lose for society as a whole when assets that could be used towards productive ends are instead routed based on the tax code. It creates gross inefficiencies in the system.I get paid whether the investments are tax-advantaged or not. My job is to work in my clients' best interest, and when they're/we're incentivized to channel funds to securities such as municipal bonds it's a win-win for everyone concerned.I suspect you sell tax advantaged investments for a living. lol.
Yeah, eliminating reams of accountants, tax planners, tax attorneys and tax shelters would be "ugly" for those involved. For the rest of us it would usher in some of the best growth we've ever seen in this country as assets are channelled into productive uses away from unproductive ones.
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A flat tax will happen given the results in 2016. Everyone understands the tax code is outmoded and unworkable.
That's not a rhetorical question, I'm curious.
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That's why you're a millionaire? After all, you had the same advantages as the people who got rich off those roads, schools, etc. Right?I don't know about that Owebama ...
But everything I got, I did myself
I didn't need no parents, no skools, no relatives, no Gubmint...it was all me
What concerns me, assuming that the graduated tax rate remains, is that they'll find a way to fuck up incentives.Check my sig line. That isnt snark. I honestly dont know.How many congressional republicans support a flat tax?No. You are arguing that tax advantaged investments are good for you and your clients. I am arguing they are bad for society as a whole. Both are correct.We'll just have to disagree, huh? Either way, a flat tax won't happen.No. It is a lose for society as a whole when assets that could be used towards productive ends are instead routed based on the tax code. It creates gross inefficiencies in the system.I get paid whether the investments are tax-advantaged or not. My job is to work in my clients' best interest, and when they're/we're incentivized to channel funds to securities such as municipal bonds it's a win-win for everyone concerned.
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A flat tax will happen given the results in 2016. Everyone understands the tax code is outmoded and unworkable.
That's not a rhetorical question, I'm curious.
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I also dont know how many Congressmen supported tax reform before Reagan's first term. But it happened. There is significant bipartisan support for tax reform this time. It may not get to a flat tax, but it will be lots flatter than now.
Yep, anyone who has succeeded didn't earn that.
They were just walking along one day and BAM, they had all kinds o' money.
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In reality, you don't have to cheat on your taxes if you are in the group Obama was referring to....they pay a lower rate than the average person.That's why you're a millionaire? After all, you had the same advantages as the people who got rich off those roads, schools, etc. Right?I don't know about that Owebama ...
But everything I got, I did myself
I didn't need no parents, no skools, no relatives, no Gubmint...it was all me
I made my millions the hard way....sweat, hard work , cheating on my taxes
In reality, you don't have to cheat on your taxes if you are in the group Obama was referring to....they pay a lower rate than the average person.That's why you're a millionaire? After all, you had the same advantages as the people who got rich off those roads, schools, etc. Right?I don't know about that Owebama ...
But everything I got, I did myself
I didn't need no parents, no skools, no relatives, no Gubmint...it was all me
I made my millions the hard way....sweat, hard work , cheating on my taxes
Incorrect. But you wouldn't know that cause you are living on the efforts of your parents.Fuck the big eared disaster, my husband and I worked hard to get where we are at...and guess what? We don't owe anyone a damn thing
If your rich you didn't work hard, you hired people to work hard.
^ Projection.I am happy he is saying this. It is what libs believe. No one got rich on his own. This guy is rich because he happened to be in the right place at the right time. But if it wasnt him some other guy would have gotten rich instead.
It betrays absolutely zero understanding of how the economy, business, and the world works.
Remind me who thought this ignorant asshole was qualifed t be president?
Nobody has gotten rich on their own. It's either given to them by inheritance or divorce settlement, or using others to make you rich.
Economy: To have a healthy economy you need a prosperous middle class.
Business: Fuck them before they fuck you.
Workings of the world: Greed makes the world go around.
That kind of profoundly ignorant rhetoric plays very well with the Entitlement Moocher crowd. He knows his audience.
The largest (in money) 'Entitlement Moocher crowd' is corporate America through direct and in-direct monies and thousands of tax breaks/loopholes.
Incorrect. But you wouldn't know that cause you are living on the efforts of your parents.Fuck the big eared disaster, my husband and I worked hard to get where we are at...and guess what? We don't owe anyone a damn thing
If your rich you didn't work hard, you hired people to work hard.
I'm thinking he's a house sitter at a rich man's house off the coast of Miami.Incorrect. But you wouldn't know that cause you are living on the efforts of your parents.Fuck the big eared disaster, my husband and I worked hard to get where we are at...and guess what? We don't owe anyone a damn thing
If your rich you didn't work hard, you hired people to work hard.
I'm thinking he lives in a cardboard box
The way I see it, unless you inherit something, it will be hard to find the capital to invest in the future.Not all, some of them work harder, pay attention in class and have good ideas.Probably around 60% fall into this class of people...The other 40% got lucky to have a rich dad, uncle, etc.
The RabbiCurrently low income people have no tax burden. All the burden is borne by the upper 50%. That creates a situation of haves and gimmes, dividing the country. Which is what Democrats wantAgain, what is accomplished by making the tax code more progressive?That's the point of my last paragraph - adding those brackets can't be the only element. No doubt, in these simplistic and binary times, many would look at that like a 16-year old girl looks at Daddy's Gold Card.Which is why adding top marginal rates is almost criminal without FIRST cutting excessive spending, fraud, waste, and abuse, and including in our budget, a mechanism for paying down the debt without tax increases.Any income tax rate could be called "punishing success".
The key is finding an equilibrium, and I believe (as do many of my peers in the financial profession) that two new, marginally higher tax tiers on the top earners would not retard growth to a significant degree. It would almost certainly, in fact, incentivize more tax-advantaged investment.
These increases, of course, are separate from an expectation that spending does not increase as a percentage of GDP, and that real attempts at increasing efficiencies must continue. As always.
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A better plan is to reduce government interference in the economy to the point that it begins to grow at a self sustaining rate. A robust economy cures more ills in this society than 100k liberal 'vote purchase' programs.
There is taxing and there is spending, and the two go hand in hand. Both sides have to be done efficiently.
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You shift the tax burden away from lower income and towards higher income.
A fair system would make everyone pay something. Somehow Democrats balk at real equality when it's offered.
The way I see it, unless you inherit something, it will be hard to find the capital to invest in the future.Not all, some of them work harder, pay attention in class and have good ideas.
Especially true, when I start reading doom and gloom articles about algorithms wiping out most white collar jobs, which paints a future of astronomical unemployment and poverty.
Then there are people such as yourself that never apply themselves and never even get into the game, just a spectator
Then there are people such as yourself that never apply themselves and never even get into the game, just a spectator
The point Obama was trying to make is that some people are born on third base and consider it an achievement while others are born with two strikes against them and are mocked by the one percent because they did not succeed in life
Please show me those people who think that. There are none. It is a typical strawman bullshit assertion.
Then there are people such as yourself that never apply themselves and never even get into the game, just a spectator
The point Obama was trying to make is that some people are born on third base and consider it an achievement while others are born with two strikes against them and are mocked by the one percent because they did not succeed in life
