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What business school did you go to come up with that idea? Do you know how much research and development went into the iPhone and other similar products? Once they are "perfected" then parts tooling. A single plastic injection mold can be upwards of $50,000.
Since you brought up the iPhone, Steve Jobs makes a salary of $1 per year. If his decisions about the direction of the company are profitable, then he and millions of other stock holders increase their wealth. If his decisions are wrong, the wealth disappears. It's up to the stock holders to buy low and sell high to profit.
The highest compensated CEO is #1 Stephen J Hemsley - Forbes.com . He made a little over $3M in salary and bonuses. The majority of the compensation comes from the stock price increasing. He has a vested interest in the company he is running. Like other executives, those are really just options so he can't run up the price and cash out. He has to keep the company profitable for 2, 3, 5 or 10 years before he can exercise those options.
Their hate is blinding them to reality. It's so-o-o-o much easier for them to succumb to the manipulative destructive propaganda they're spoon fed - no thinking required.
Their heads explode when I point out that...
"This shift of business ownership from rich people to working people may be the greatest economic transformation since the Industrial Revolution.
...So what does all this mean? Well, for starters, it should lead to an end of complaints about the profits of corporations and allegations about 'greedy corporations.' After all, much of that profit now goes toward the current and future retirement incomes of working people." Business Ownership & Labor Day
Everyone who contributes to or benefits from a 401k, pension fund, mutual fund, annuity, or whole life insurance policy, etc., is a corporate owner, en masse. Theyget the profits.
Please explain how that would work. Can you actually explain HOW your 'wealth tax' would work?
It would be a levy % on the value of the assets, or net assets, of every organization, business, individual, trust, etc., in America.
say, an eighth or a quarter-percent per annum. Maybe 1%. Whatever rate would be sufficient to cut income tax rates/revenue in half, and maintain consistent federal tax revenues.
Optional ideas would be: omitting anyone who has assets under X amount, and/or omitting assets which would be most prone to capital flight.
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How is this different than the current system of taxing what is earned?
We currently tax wages, dividends, and capital gains.
It would be a levy % on the value of the assets, or net assets, of every organization, business, individual, trust, etc., in America.
say, a quarter-percent per annum. Maybe 1%. Whatever rate would be sufficient to cut income tax rates/revenue in half, and maintain consistent federal tax revenues.
We currently tax wages, dividends, and capital gains.
So you want to create incentives for me to keep my money and assets in foreign banks?
The exchange between the Yen and Dollar is very good right now.
It would be a levy % on the value of the assets, or net assets, of every organization, business, individual, trust, etc., in America.
say, a quarter-percent per annum. Maybe 1%. Whatever rate would be sufficient to cut income tax rates/revenue in half, and maintain consistent federal tax revenues.
We currently tax wages, dividends, and capital gains.
And why the He** do you think you, or any other socialistic idiot, has the right to tax assets??
If you want more, or need more to fund your entitlement dreams, get a job that pays for it. Better yet, give up everything you have and put a smile on your face. Just don't expect others to live in your "we are owed" dream world.
So you want to create incentives for me to keep my money and assets in foreign banks?
The exchange between the Yen and Dollar is very good right now.
Fearmongering. Printing money from the press to fund the government is already an incentive for you to keep your money and assets in foreign banks. And yet, and yet, the US hasn't collapsed yet.
People don't, because the United States has free markets and rule of law. Go to Japan ...... see ya!
And why the He** do you think you, or any other socialistic idiot, has the right to tax assets??
We tax incomes, don't we? What's sacred about wealth?
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If you want more, or need more to fund your entitlement dreams, get a job that pays for it. Better yet, give up everything you have and put a smile on your face. Just don't expect others to live in your "we are owed" dream world.
what are you babbling about? Go play Dr. Phil somewhere else.
We tax incomes, don't we? What's different about wealth?
what are you babbling about?
What are YOU babbling about. I think we all get your point that you are jealous of the wealthy and feel you, and other lefties, have the right to take what you want in order to spread the wealth.
Guess what? It will never happen so get over it and make your own way in this world.
I think we all get your point that you are jealous of the wealthy and feel you, and other lefties, have the right to take what you want in order to spread the wealth.
Guess what? It will never happen so get over it and make your own way in this world.
Right-o Dr. Phil. Keep that psychoanalysis coming.
But..in the same link you just posted it also says the top 1% owns 42.7% of the wealth.
Only if you eliminate the net value of everyone's homes, which is ridiculous.
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This figure of 34.6% was net worth. Furthermore, both numbers are using 2007, pre-bailout data, not 2009, 2010, 2011 recessionary data.
It's the most recent data available. If you have something more current, post it.
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Plus, your tax data is from 2008, which is the lowest possible year you could've cherrypicked
Note that the data and chart were updated in Oct of 2010. What I posted is the most recent data available.
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You also only used income taxes, you didn't include all federal taxes in the calculation, notably omitting FICA and Social Security.
You really want to go there? Fine. Let's look at the total effective federal tax rates paid by each income group, again, using the most recent data available:
Total effective federal tax rates by income level (latest available data from the CBO):
Top 1%: 31.2%
Top 5%: 29.0%
Top 10%: 27.5%
Top 20%: 25.8%
Next 20%: 17.6% -----
Next 20%: 14.2% ----- middle class
Next 20%: 10.2% -----
Bottom 20%: 4.3%
Includes: income, social insurance (payroll), and excise taxes
i didn't advocate "equal to the share." I have never used that term.
Yes, you did:
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Originally Posted by le roi
enough would be equal to the share
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