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Old 12-02-2010, 07:39 AM
 
9,855 posts, read 15,182,463 times
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Quote:
Originally Posted by GregW View Post
Who supports the gambler while he is taking the risk? What gives him the right to take his family down to economic oblivion with him? I supported me and family with savings and folded before I owed people money. It was an interesting experience but I would not do it again using my own money.

I had my own business and I could not deduct the cost of the car, but I could deduct operating expenses. I used the allowable rate per mile.
GregW - I agree 100%, the government should NOT support people when they fail at taking those risks. Thank you for finally agreeing that we should do away with government run social programs.
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Old 12-02-2010, 07:40 AM
 
14,249 posts, read 17,887,181 times
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Quote:
Originally Posted by burdell View Post
Or the CEOs would just vote themselves multi-million $$$ raises and nothing else would change
That would be the Compensation sub-committee of the Board.
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Old 12-02-2010, 07:40 AM
 
Location: By the sea, by the sea, by the beautiful sea
68,300 posts, read 54,222,946 times
Reputation: 40623
Quote:
Originally Posted by hnsq View Post
So basically you are just jealous that they are smarter than you?

Start your own company and write-off your personal car. CEOs are not doing anything that any average american can't also do, except you are probably too lazy to actually follow through with DOING those things.
Really? Can any average American hire a compensation consultant beholden to them who will determine their compensation?
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Old 12-02-2010, 07:41 AM
 
9,855 posts, read 15,182,463 times
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Originally Posted by burdell View Post
Or the CEOs would just vote themselves multi-million $$$ raises and nothing else would change
CEO's do not have voting control over their own salary...
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Old 12-02-2010, 07:42 AM
 
9,855 posts, read 15,182,463 times
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Quote:
Originally Posted by burdell View Post
Really? Can any average American hire a compensation consultant beholden to them who will determine their compensation?
The average american doesn't work 75 hours/week like most CEO's do, so they can stand to spend a few hours/week educating themselves on the tax structure. I personally read about 45 minutes/day, 5 days/week on personal finance/taxation.
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Old 12-02-2010, 07:43 AM
 
Location: Las Vegas
5,864 posts, read 4,968,167 times
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Quote:
Originally Posted by GregW View Post
Considering the fact that 95% of all new businesses fail, why sould he, or anyone else, be forced to take the bet. Besides most start ups are in the service sector where 24 hours per day are not enough and don't pay a salary or make a profit for several years.
To go out on your own you must take risks. I'm going to be taking that risk myself. No one's "forced to take the bet," by the way. You can continue to work at a regular job. But if you want to strike it out on your own and start your own business there is some risk.
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Old 12-02-2010, 07:45 AM
 
Location: By the sea, by the sea, by the beautiful sea
68,300 posts, read 54,222,946 times
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Quote:
Originally Posted by hnsq View Post
CEO's do not have voting control over their own salary...
Management controls their own compensation. If you don't believe so please explain why when United Airlines management cried for (and received) union give backs they promptly voted themselves the type of stock options normally given to successful management teams, not ones that led their firm to bankruptcy.
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Old 12-02-2010, 07:48 AM
 
Location: By the sea, by the sea, by the beautiful sea
68,300 posts, read 54,222,946 times
Reputation: 40623
Quote:
Originally Posted by hnsq View Post
The average american doesn't work 75 hours/week like most CEO's do, so they can stand to spend a few hours/week educating themselves on the tax structure. I personally read about 45 minutes/day, 5 days/week on personal finance/taxation.
I don't give a rat's ass if a CEO works 100 hours a week, those who run their companies into the ground yet still make bloated salaries and often leave with big $$$ packages are a drain, nothing else. Their salaries might be justified if performance based but often they're not.
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Old 12-02-2010, 07:48 AM
 
Location: Las Vegas
5,864 posts, read 4,968,167 times
Reputation: 4207
Quote:
Originally Posted by jimhcom View Post
Obviously most of you have little understanding of the corporate world. CEO,s do not purchase their own cars, they use company cars at company expense. They do not pay for their meals, company credit card. Many live in housing paid for by the company. They use company money to support their lavish lifestyles while banking their income. They avoid high personal income tax rates by taking the majority of their compensation in the form of stock options, and pay the lower capital gains rate. The argument that taxes are passed on to consumers as higher prices is absurd. Corporate profits are skyrocketing and to say they have no obligation to pay their fair share of taxes is asinine. The people are tired of the BS of the Oligarchs; it is time to start hanging them from their well manicured trees.


Do it yourself, emulate their success. If you try and fail oh well at least you tried. Don't be mad because they were successful in their ventures.

By the way I highly doubt your claims of their lifestyle.
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Old 12-02-2010, 08:01 AM
 
9,855 posts, read 15,182,463 times
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Quote:
Originally Posted by burdell View Post
Management controls their own compensation. If you don't believe so please explain why when United Airlines management cried for (and received) union give backs they promptly voted themselves the type of stock options normally given to successful management teams, not ones that led their firm to bankruptcy.
Management does not sit on the board that controls their compensation. If those boards are spineless enough to cave to management's petitions, that is a separate issue entirely. The situation you described is the same as you walking into your boss's office and asking for a raise. He does NOT have to say yes.


Quote:
Originally Posted by burdell View Post
I don't give a rat's ass if a CEO works 100 hours a week, those who run their companies into the ground yet still make bloated salaries and often leave with big $$$ packages are a drain, nothing else. Their salaries might be justified if performance based but often they're not.
As emotional and inspiring as that is, you completely ignored my point, so I will make it again. You asked me if the average American can afford to hire a 'tax guy' to help him minimize taxes paid. I said the average American has the ability to put in a few hours/week and gain the knowledge that 'tax guy' would have, and be able to minimize the tax burden himself. Do you disagree?
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