Top 1 Percent Spreading $60T Wealth But Not to You

[petch751]

Originally Posted by Driller1

That is good in case of an audit....they can go represent you.

I made it though two audits.....not as bad as I thought it would be.

But, I would never volunteer.

Yes that is the other thing. I would bring my bookkeeper (very organized) and CPA (who knows tax law) and allow them to speak for me.

[Driller1]

Originally Posted by petch751

Yes that is the other thing. I would bring my bookkeeper (very organized) and CPA (who knows tax law) and allow them to speak for me.

IF that should happen....do not be surprised when you representative tells you to stay home.

[petch751]

Originally Posted by Driller1

IF that should happen....do not be surprised when you representative tells you to stay home.

lol, I would be very happy to do that. I'll make sure to pay for their breakfast "with coffee" too to make sure they have full bellies and caffeine.

[greywar]

Originally Posted by Mircea

Yes, how about switching to a Sales Tax and Value Added Tax scheme?

We are not on this Earth to guarantee that Tax Attorneys and Tax Accountants have jobs.

I guess if you were running the show, we'd still be making chastity belts and buggy whips...with unions.



I guess it's a good thing the 1% can provide the funding.

Easily...

Mircea

Ahh Mircea, are you stalking me? That makes me feel all warm inside.

Sales tax, and value added taxes still employee people to deal with them, your argument makes little sense. Additionally they would result in a massive redistribution downward, with the end result that the poorer you are, the higher % you would pay in taxes, via fee's, gas taxes, etc. Apparently in your world the richer you are, the less you should pay as a % of your income in various taxes right? Nice!

Ah yes the 1% can provide funding....which is especially important since the income is increasingly going to them, it becomes harder and harder for the average person to actually create a business. Apparently you are fond of this as well. Nice!

[petch751]

Originally Posted by greywar

it becomes harder and harder for the average person to actually create a business. Apparently you are fond of this as well. Nice!

Regulations on top of regulations. A tax code that is 78,000 pages. Now why would you think it's difficult to create a business. If government wanted to help they would reduce the regulations and make the tax code so anyone could understand.

Oh, and if you do start to pull into the green, uncle sam wants a huge chunk of it so don't go spending on a spending spree or hire before you know how much.

[Finn_Jarber]

Top 1 Percent Spreading $60T Wealth But Not to You

I think the term is 'trickling', not 'spreading'. Having said that, I must be either in the Top-1%, or it is indeed trickling/spreading my way, because I am doing pretty good.

[Mircea]

Originally Posted by greywar

Ahh Mircea, are you stalking me?

No, I only "stalk" paid shills.

Originally Posted by greywar

Sales tax, and value added taxes still employee people to deal with them, your argument makes little sense.

That's because you created a ....

Straw Man

Your reasoning contains the straw man fallacy whenever you attribute an easily refuted position to your opponent, one that the opponent wouldn’t endorse, and then proceed to attack the easily refuted position (the straw man) believing you have undermined the opponent’s actual position. If the misrepresentation is on purpose, then the straw man fallacy is caused by lying.

...which is about the only thing you know how to do.

As a business, why should I throw away and waste money on a tax attorney to advise whether or not I should purchase the rubber grommets that sell for $0.030 per gross or the ones that sell for $0.031 per gross?

Like a poor marksman, you constantly miss the target, because you have no idea what you are talking about.

The bulk of overhead in the US is compliance.

Wait until your business has to throw away $3 Million annually on compliance, paying people to read the Federal Register to make sure you don't violate some arcane regulation on the width tolerance of corrugated boxes because the snail darter Asian carp owl might get it's beak and fins caught in the corrugate.

And, naturally, with an Economic IQ of -10,000 you don't understand Inputs/Outputs.

Compliance produces nothing.

Whether you spend $1 annually or $30 Million annually sorting through myriad government regulations and case law, it produces nothing....all it does is waste Capital...creating a drag on the economy.

Originally Posted by greywar

Additionally they would result in a massive redistribution downward,...

Isn't that what National Socialist totalitarian control freaks like you want? Redistribution downward?

Originally Posted by greywar

....with the end result that the poorer you are, the higher % you would pay in taxes, via fee's, gas taxes, etc. Apparently in your world the richer you are, the less you should pay as a % of your income in various taxes right? Nice!

You're wrong again as usual.

There is no Law of Economics for "tax equality."

What me to show what a hypocrite you are?

A tax on Earned Income is a tax on labor.....why aren't you whining about Labor Inequality?

Isn't it grossly unfair for someone with an IQ of 85 to pay income taxes at the same rate as someone with an IQ of 135?

Isn't it grossly unfair that someone with an IQ of 115 can use tax attorneys and tax accounts to manipulate the tax laws to pay less than some minimum wage worker with an IQ of 85?

The poor are better off financially with a Sales Tax/VAT and no Income Tax.

The poor keep 100% of their Earned Income. They are only taxed on their Disposable Income. Disposable Income does not include rent/mortgage, food, medical or legal expenses.

That gives the poor more opportunity to do what they do best: squander their money.

Originally Posted by greywar

Ah yes the 1% can provide funding....

Government can't and won't, and banks won't.....not too many options left....you can always call the Pinelli brothers...Luca and Luigi.

The 1% are known for their generosity and understand regarding interest rates and late payments.....the government, the banks and the Pinelli brothers are not known for that.

Originally Posted by greywar

....which is especially important since the income is increasingly going to them....

We need a TV show like the World's Dumbest Losers. Everyone can have a good laugh at the Stu-tards as they bumble about trying to figure out the differences between Income and Wealth.

I couldn't help but note that as soon as I asked how much of that rounded up $59 TRILLION which got rounded up to $60 TRILLION is cash, all the Penis Envy 1% Haters ran away.

So, how much of that $59 TRILLION is cash?

Originally Posted by greywar

... it becomes harder and harder for the average person to actually create a business.

Government and stupidity make it hard, not the 1%....

they actually make it easier....

Mircea

[greywar]

Ah yes massive response full of insults, misdirection, and ignorance of my point.

On one hand you blame the government, which has been increasingly following the direction of the 1%, and on the other you blame people being stupid. Always easier to blame "stupid" people. They just weren't fortunate enough to be born to someone wealthy, or have a higher then average IQ. I mean hey, yeah they made out pretty good, but now? screw those folks. Right?

And of course the usual insults implying I don't understand the difference between wealth and income. Yawn. thats so tiring at this point. And pathetic.

Your foolish statements abound. It amazes me.

The poor are better off financially with a Sales Tax/VAT and no Income Tax.

Really? You can say that with a straight face? Pathetic. How deluded are you? *checks interests* ohh you have an interest in astrology.....OK then. and denying global warming. got it.

You constantly say things that are not factually biased, and hope that you can just bury people with verbage, and some facts mixed in (often irrelevant facts).

Oh and insults. Can't forget those!

So back to the topic on hand, today the money is increasingly concentrated at the top, which removes the ability of the bottom to self fund ideas and businesses. What part of this is hard for you to understand?