What should the wealthy do? Libs How should they be sharing there wealth?

[The Rabbi]

Ask Romney.

Romney didnt say it was unAmerican. I'm asking you, shithead.

Well he found out it was so he knows now. I don't understand why you would have to ask. I would guess the answer might be a little different depending who you ask. But it comes down to Romney getting all the benefits of being a US citizen, but then cheating the country when it's his time to pay back.

So he has paid every penny of tax owed, how is he cheating his country?

 

[Nosmo King]

The money stashed in off shore accounts does not flow through the economy of the United States. It does not create jobs. It does not help reduce the deficit. It does not create wealth beyond the holder of the secret account numbers.

We have coddled the rich by writing loopholes in the tax code only they can afford and big enough to drive a Greyhound bus through. When the rich enjoy tax codes that let them further accumulate wealth and then keep that wealth out of the economic system that made it possible, one has to wonder why the tax codes were written to maintain such a counterproductive system.

If both Liberals and Conservatives have to suffer the weight of an unbalanced system where their own personal finances are concerned, one has to wonder why Conservatives can't see the burden themselves. Unless the Conservative thinks that he too will become wealthy and then the system in place will serve him for a change or; Conservatives have such opaque economic and partisan blinders on that they simply refuse to listen to the truth.

If it were true that the wealthy need tax shelters in order to create new jobs, then why haven't they started creating these new jobs? How can wealth stashed away off shore create jobs in America? Wealth stashed off shore does nothing NOTHING but pile up at the whim of the wealthy. There sure ain't nothing trickling down, is there?

 

[Brain357]

Romney didnt say it was unAmerican. I'm asking you, shithead.

Well he found out it was so he knows now. I don't understand why you would have to ask. I would guess the answer might be a little different depending who you ask. But it comes down to Romney getting all the benefits of being a US citizen, but then cheating the country when it's his time to pay back.

So he has paid every penny of tax owed, how is he cheating his country?

Because he'd be paying more if he wasn't hiding his money out in other countries. Duh. While legal, it isn't very moral. And clearly most US citizens agree or Romney would be the President.

 

[bripat9643]

The election is long over, dipstick. This thread isn't about Romney. Please explain why Americans don't have the right to put their money wherever they like.

What should the wealthy do?

For a start, they need to be stopped from using smoke and mirrors made up of offshore accounts.....

"As Newt Gingrich put it during the primary season, “I don’t know of any American president who has had a Swiss bank account.” But Romney has, as well as other interests in such tax havens as Bermuda and the Cayman Islands.

To give but one example, there is a Bermuda-based entity called Sankaty High Yield Asset Investors Ltd., which has been described in securities filings as “a Bermuda corporation wholly owned by W. Mitt Romney.” It could be that Sankaty is an old vehicle with little importance, but Romney appears to have treated it rather carefully. He set it up in 1997, then transferred it to his wife’s newly created blind trust on January 1, 2003, the day before he was inaugurated as Massachusetts’s governor. The director and president of this entity is R. Bradford Malt, the trustee of the blind trust and Romney’s personal lawyer. Romney failed to list this entity on several financial disclosures, even though such a closely held entity would not qualify as an “excepted investment fund” that would not need to be on his disclosure forms. He finally included it on his 2010 tax return. Even after examining that return, we have no idea what is in this company, but it could be valuable, meaning that it is possible Romney’s wealth is even greater than previous estimates. While the Romneys’ spokespeople insist that the couple has paid all the taxes required by law, investments in tax havens such as Bermuda raise many questions, because they are in “jurisdictions where there is virtually no tax and virtually no compliance,” as one Miami-based offshore lawyer put it.
That’s not the only money Romney has in tax havens. Because of his retirement deal with Bain Capital, his finances are still deeply entangled with the private-equity firm that he founded and spun off from Bain and Co. in 1984. Though he left the firm in 1999, Romney has continued to receive large payments from it—in early June he revealed more than $2 million in new Bain income. The firm today has at least 138 funds organized in the Cayman Islands, and Romney himself has personal interests in at least 12, worth as much as $30 million, hidden behind controversial confidentiality disclaimers. Again, the Romney campaign insists he saves no tax by using them, but there is no way to check this.

Bain Capital is the heart of Romney’s fortune: it was the financial engine that created it. The mantra of his campaign is that he was a businessman who created tens of thousands of jobs, and Bain certainly did bring useful operational skills to many companies it bought. But his critics point to several cases where Bain bought companies, loaded them with debt, and paid itself extravagant fees, thereby bankrupting the companies and destroying tens of thousands of jobs."

Investigation: Mitt Romney?s Offshore Accounts, Tax Loopholes, and Mysterious I.R.A. | Vanity Fair

 

[bripat9643]

It's not illegal to have an off shore account. Jack Lew has one. So do other members of the Democratic party.
Thats the least of the issue Although someone more intelligent might want to ask why wealthy people feel the need to stash money like that.

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why does everything I do need to help the country? My self-interest comes before the welfare of useless ticks sucking on the ass of the country.

 

[bripat9643]

Dereg favors the rich. During the boom and bust, the rich clean up in both directions.

Your solution, loot the wealthy?

 

[bripat9643]

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why is it "unAmerican"?

Ask Romney.

He's asking you. You're the one who made the claim. If you can't support it, then get the hell out of the thread.

 

[The Rabbi]

The money stashed in off shore accounts does not flow through the economy of the United States. It does not create jobs. It does not help reduce the deficit. It does not create wealth beyond the holder of the secret account numbers.

We have coddled the rich by writing loopholes in the tax code only they can afford and big enough to drive a Greyhound bus through. When the rich enjoy tax codes that let them further accumulate wealth and then keep that wealth out of the economic system that made it possible, one has to wonder why the tax codes were written to maintain such a counterproductive system.

If both Liberals and Conservatives have to suffer the weight of an unbalanced system where their own personal finances are concerned, one has to wonder why Conservatives can't see the burden themselves. Unless the Conservative thinks that he too will become wealthy and then the system in place will serve him for a change or; Conservatives have such opaque economic and partisan blinders on that they simply refuse to listen to the truth.

If it were true that the wealthy need tax shelters in order to create new jobs, then why haven't they started creating these new jobs? How can wealth stashed away off shore create jobs in America? Wealth stashed off shore does nothing NOTHING but pile up at the whim of the wealthy. There sure ain't nothing trickling down, is there?

Well, it is not clear it does not flow through the US economy. If that were a complaint, all money parked in CDs or Treasuries does not flow throught he economy of the US.

The tax codes were written to acheive social engineering goals. Inevitably little goodies get stuck in. But when conservatives propose a fair system, either Fair Tax or Flat Tax, the brain dead left goes apeshit. Because they want to preserve the biggest tax break of all: 42% of wage earners pay no income tax at all.

 

[Brain357]

It's not illegal to have an off shore account. Jack Lew has one. So do other members of the Democratic party.
Thats the least of the issue Although someone more intelligent might want to ask why wealthy people feel the need to stash money like that.

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why does everything I do need to help the country? My self-interest comes before the welfare of useless ticks sucking on the ass of the country.

Well the rich suck a lot more than the poor. Everyone benefits a lot from being a citizen of the greatest country on the planet. If they are going to take the benefits they also must give. Just taking well I guess that is like stealing.

 

[bripat9643]

It isn't a question of what rich people can "do", but a question of why they benefit more from tax laws than you or I do.

I just don't earn enough to qualify for some of the huge tax breaks that we all have to end up paying for so that they can enjoy.

If you ask the average American idiot or teabagger, they'll tell you that welfare to the poor is one of the big problems in the country. Of course, welfare to the poor is only a drop in the bucket compared to welfare for the rich, but the average American idiot or teabagger doesn't have the time or the patience to look at the numbers.

From huge corporate agribusiness to private contractors to weapons manufacturers to those who caused our economic collapse 5 years ago on Wall Street, they are all the benefactors of our hard work. We slave away and do what we're told so they can have it all.

Then we throw nickels at poor people and teabaggers think that's the problem. Fucking morons.

You'll have to take that up with the DimoRATs in congress. They're the ones who voted for most of those programs.

BTW, do you think building weapons should be a charity operation? And who are these "private contractors" you're referring to?

 

[Brain357]

Dereg favors the rich. During the boom and bust, the rich clean up in both directions.

Your solution, loot the wealthy?

They have been looting the country for a long time, so why not?

 

[bripat9643]

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why does everything I do need to help the country? My self-interest comes before the welfare of useless ticks sucking on the ass of the country.

Well the rich suck a lot more than the poor. Everyone benefits a lot from being a citizen of the greatest country on the planet. If they are going to take the benefits they also must give. Just taking well I guess that is like stealing.

Bullshit. The rich got where they are by producing goods and services that people want. The useless ticks sucking off the taxpayers benefit the most. Government didn't do anything to earn anything the rich have, so why should the later pay anything to the former?

 

[The Rabbi]

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why does everything I do need to help the country? My self-interest comes before the welfare of useless ticks sucking on the ass of the country.

Well the rich suck a lot more than the poor. Everyone benefits a lot from being a citizen of the greatest country on the planet. If they are going to take the benefits they also must give. Just taking well I guess that is like stealing.

The top 20% of income earners pay over 80% of income taxes.
By contrast the bottom 42% pay no income tax.
Who isn't pay their fair share again?

 

[The Rabbi]

Dereg favors the rich. During the boom and bust, the rich clean up in both directions.

Your solution, loot the wealthy?

They have been looting the country for a long time, so why not?

That's why we're wealthier now than ever?
What a moron.

 

[boedicca]

Dereg favors the rich. During the boom and bust, the rich clean up in both directions.

Your solution, loot the wealthy?

They have been looting the country for a long time, so why not?

I call shenanigans. You throw around the looting accusation quite a bit.

Please provide some specific examples of The Rich doing looting. I agree that there are some wealthy people who are looting the country...but I doubt you will accurately identify them and their methods.

 

[bripat9643]

Dereg favors the rich. During the boom and bust, the rich clean up in both directions.

Your solution, loot the wealthy?

They have been looting the country for a long time, so why not?

Horseshit. Ticks like you have been doing all the looting.

So your solution is looting the wealthy? Is that what you're admitting?

 

[bripat9643]

Well he found out it was so he knows now. I don't understand why you would have to ask. I would guess the answer might be a little different depending who you ask. But it comes down to Romney getting all the benefits of being a US citizen, but then cheating the country when it's his time to pay back.

So he has paid every penny of tax owed, how is he cheating his country?

Because he'd be paying more if he wasn't hiding his money out in other countries. Duh. While legal, it isn't very moral. And clearly most US citizens agree or Romney would be the President.

Please explain what's immoral about it. I see nothing wrong with putting your money where it will be taxed the least.

 

[Brain357]

Why does everything I do need to help the country? My self-interest comes before the welfare of useless ticks sucking on the ass of the country.

Well the rich suck a lot more than the poor. Everyone benefits a lot from being a citizen of the greatest country on the planet. If they are going to take the benefits they also must give. Just taking well I guess that is like stealing.

The top 20% of income earners pay over 80% of income taxes.
By contrast the bottom 42% pay no income tax.
Who isn't pay their fair share again?

Well of course they are. Who has more to lose? Think of it as insurance. Should the guy with the $1,000 car pay as much as the guy with the $100,000 car? Of course not. So the very rich have a lot more to insure. Suppose some country comes and takes us over, who has more to lose? The rich might very well lose everything, while the very poor might not be much more worse off.

 

[Brain357]

Your solution, loot the wealthy?

They have been looting the country for a long time, so why not?

Horseshit. Ticks like you have been doing all the looting.

So your solution is looting the wealthy? Is that what you're admitting?

If by looting you mean closing tax loop holes and not allowing them to hide money over seas then yes.

 

[The Rabbi]

Well the rich suck a lot more than the poor. Everyone benefits a lot from being a citizen of the greatest country on the planet. If they are going to take the benefits they also must give. Just taking well I guess that is like stealing.

The top 20% of income earners pay over 80% of income taxes.
By contrast the bottom 42% pay no income tax.
Who isn't pay their fair share again?

Well of course they are. Who has more to lose? Think of it as insurance. Should the guy with the $1,000 car pay as much as the guy with the $100,000 car? Of course not. So the very rich have a lot more to insure. Suppose some country comes and takes us over, who has more to lose? The rich might very well lose everything, while the very poor might not be much more worse off.

That's a bizarre way to look at it. But let's go with that.
So the bottom 42% of wage earners have nothing to lose if this country gets taken over? Rly?