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Old 08-22-2017, 02:08 PM
 
11,316 posts, read 5,839,816 times
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Quote:
Originally Posted by TaxPhd View Post
I don't know what your source says, as it requires registration. However, Buffett didn't say that he paid less in taxes than his secretary.
No, Buffett said his effective tax rate is lower than his secretary. He's paying tax on long term capital gains and dividend income. His secretary is paying tax on earned income and it's subject to Medicare tax and Social Security tax.
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Old 08-22-2017, 03:06 PM
 
437 posts, read 198,738 times
Reputation: 449
Quote:
Originally Posted by hitpausebutton2 View Post
So just proves the rich isnt spending at all, just hording and not helping anybody..

https://www.yahoo.com/finance/news/a...194733308.html



So instead of giving their employees raises or going out and buying things to help a company keeps their employees.. they are hording their money..
Perhaps you can tell us as to how much we should all spend based on our incomes or net worth.
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Old 08-22-2017, 03:19 PM
 
2,360 posts, read 1,027,668 times
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Quote:
Originally Posted by Jim1921 View Post
Perhaps you can tell us as to how much we should all spend based on our incomes or net worth.
Well if your rich enough that you bought everything you wanted and just putting your funds in a "offshore savings account" to hide it, than invest it in employees, or expand your company thus creating more jobs. Something, other than hiding it to keep from paying taxes. If you inherit it, well thats another matter.. Nothing worst than seeing some chump kid not working because thanks to mommy and daddy he got enough to live on and show off.. what did he earn? nothing.. we all preach about earning our way in life, so why is it so hard to make your kids earn your "wealth"?
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Old 08-22-2017, 03:38 PM
 
33,046 posts, read 20,720,491 times
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Quote:
Originally Posted by skeddy View Post
I think some of you posters forget it's their money, they can do whatever they want with it.

If government redistributes income from B to A through regulation, is it really A's money?
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Old 08-22-2017, 04:52 PM
 
Location: Nescopeck, Penna.
11,370 posts, read 6,790,399 times
Reputation: 14412
Quote:
Originally Posted by hitpausebutton2 View Post
So just proves the rich isnt spending at all, just hording and not helping anybody..

https://www.yahoo.com/finance/news/a...194733308.html

So instead of giving their employees raises or going out and buying things to help a company keeps their employees.. they are hording their money..
The fine art of enterprise isn't "creating jobs" ..... the objective is creating wealth, by creating value -- something somebody actually wants to buy. And unfortunately for most people like our OP, what a lot of people want to get; namely, personal attention and service, is not what anybody really wants to give -- let alone spend some of the most productive years of your life doing.

And as the rest of the world advances, fewer and fewer of their sons and daughters are going to be willing and/or desperate enough to emigrate here for those unwanted jobs.

Quote:
Originally Posted by hitpausebutton2 View Post
Well if your rich enough that you bought everything you wanted and just putting your funds in a "offshore savings account" to hide it, than invest it in employees, or expand your company thus creating more jobs. Something, other than hiding it to keep from paying taxes. If you inherit it, well thats another matter.. Nothing worst than seeing some chump kid not working because thanks to mommy and daddy he got enough to live on and show off.. what did he earn? nothing.. we all preach about earning our way in life, so why is it so hard to make your kids earn your "wealth"?
When a budding entrepreneur starts a local business, and the word gets around that (s)he's delivering something good, (s)he needs more "foot soldiers" -- NOT overgrown adolescents with grand dreams, but low-value degrees in intellectual finger-painting. There's still a path upward for those with ambition, but it usually involves managerial and/or supervisory responsibility -- getting those on the next rung below you to take on the tasks nobody really enjoys; and getting the job done, to the expectations of someone else who really doesn't identify with any of the other people involved in the process. It's a long, slow, regimented. and risky path upward, and unfortunately, it's the only option (though in many forms) for a lot of us.

Quote:
Originally Posted by SOON2BNSURPRISE View Post
The market is saying that we have a lot of people willing to work and not that many jobs. How do you pay people more when supply and demand state otherwise?

Wealthy spend money on opportunities to make more money. This opportunity is what creates jobs for others. Hoarding money is not something that the wealthy do. They know the value that a dollar brings in. They expect their dollars to make them money. They want all their dollars working for them. These dollars are not sitting by the pool enjoying themselves. They are out there working. And when dollars work more people get jobs. That is just how things go.
This is an unfortunate fact of life in a post-industrial economic setting.

Last edited by 2nd trick op; 08-22-2017 at 05:21 PM..
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Old 08-22-2017, 04:58 PM
 
Location: Land of Free Johnson-Weld-2016
6,474 posts, read 13,410,318 times
Reputation: 6404
LOL thanks Damba. I'm not the only a$$. I've had my share of embarrassing posts, though...trying not to judge.
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Old 08-22-2017, 04:59 PM
 
5,221 posts, read 2,377,031 times
Reputation: 5111
Quote:
Originally Posted by hitpausebutton2 View Post
Well if your rich enough that you bought everything you wanted and just putting your funds in a "offshore savings account" to hide it, than invest it in employees, or expand your company thus creating more jobs. Something, other than hiding it to keep from paying taxes. If you inherit it, well thats another matter.. Nothing worst than seeing some chump kid not working because thanks to mommy and daddy he got enough to live on and show off.. what did he earn? nothing.. we all preach about earning our way in life, so why is it so hard to make your kids earn your "wealth"?
Are you generally envious of others?
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Old 08-22-2017, 05:16 PM
 
437 posts, read 198,738 times
Reputation: 449
Quote:
Originally Posted by hitpausebutton2 View Post
Well if your rich enough that you bought everything you wanted and just putting your funds in a "offshore savings account" to hide it, than invest it in employees, or expand your company thus creating more jobs. Something, other than hiding it to keep from paying taxes. If you inherit it, well thats another matter.. Nothing worst than seeing some chump kid not working because thanks to mommy and daddy he got enough to live on and show off.. what did he earn? nothing.. we all preach about earning our way in life, so why is it so hard to make your kids earn your "wealth"?
I think you have been watching a bit too much tv. First, most wealthy don't need or want to put money in "offshore savings accounts". Most have it invested (companies, real estate, etc), so that should make you happy by criteria you have laid out. Secondly, most people that are millionaires, etc are first generation rich, which means they made their money and did not inherit it. Third, you should try to meet these individuals and understand how they built their wealth, how they invest and what motivates them. I think you would walk away with a different opinion.
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Old 08-22-2017, 05:19 PM
 
437 posts, read 198,738 times
Reputation: 449
Quote:
Originally Posted by freemkt View Post
If government redistributes income from B to A through regulation, is it really A's money?
So, you think the government owns everything and should decide what we get to keep?
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Old 08-22-2017, 05:25 PM
 
18,807 posts, read 6,138,018 times
Reputation: 12679
I'm certainly NOT rich and not poor, but at my late age I don't do much to pump up the economy/.....I don't need anything and am getting rid of stuff I've accumulated all my life....need food, shelter and good health and you know they say you can't buy good health.
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