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And so, my fellow Americans: ask not what your country can do for you — ask what you can do for your country. - JFK
For you millennial's. JFK was a Democrat President in who was assassinated in 1963. Is The Democrats Ronald Reagan. Probably couldn't get elected as a democrat today. Was much too Conservative.
You mean like pay more taxes for our country and allow more tax cuts for the wealthy?
First off, it's ironic to me that a person like yourself can't see through the irony of an entitled, 1% billionaire like Gov Dayton, who's family made their fortunes on the backs of the middle class and poor, having the gall to pretend he's a man of the people or for the Middle Class.
Second, our system has served the demographic of Minnesota very well over the years, but doesn't mean it would transfer and work the same in other states that don't share the same demographics and culture. It's like Edina or Minnetonka bragging that their test scores are higher than Mpls North's. We are a largely homogenous people in Minnesota, who's culture primarily mirrors that of Scandinavia and Germany. We value high level education, hard work, organization, respect of law, honesty, politeness, etc. hat has led to a very successful and productive state. So long as most people are on the productive side of the equation, it works. The minute we have more people taking than giving, it will cease to work.
Governor Dayton has increased taxes on............himself! He realizes it is time to pay their fair share and help the very people who enriched him. You are right.
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A native of Minnesota, Dayton is the great-grandson of businessman George Dayton, the founder of Dayton's, a department store that later became the Target Corporation. He embarked on a career in teaching and social work in New York City and Boston after graduating from Yale University in 1969. During the 1970s, he served as a legislative aide to U.S. Senator Walter Mondale and Minnesota Governor Rudy Perpich. In 1978, Dayton was appointed the Minnesota Economic Development Commissioner and married Alida Rockefeller Messinger, a member of the Rockefeller family.
Governor Dayton has increased taxes on............himself! He realizes it is time to pay their fair share and help the very people who enriched him. You are right.
The Dayton Family Trust and Mark Dayton's individual trusts actually moved to South Dakota to avoid paying taxes on the vast wealth he inherited.
He only receives and pays taxes on $166k of those billions each year. It's easy to be benevolent after your wealthy industrialist grandfathers earned billions and you only pay taxes on a small % of it, plus you have no real expenses since your mansion was paid-in-full generations ago, your vehicles/gas/travel are paid for by the tax payers, etc. He also donated a whopping $1,000 to charity in 2012. What a guy!
if you want to attack republicans, that is fine, just remember that democrats are just as bad.
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Originally Posted by jojajn
I would love a discussion about this. If only you could provide examples or facts or something to actually discuss.
which means you really dont want to look at things through neutral eyes, but rather from your own point of view. you would rather attack just the republican party despite the fact that many times it has been shown that NEITHER PARTY gives a damn about you the average citizen.
The Dayton Family Trust and Mark Dayton's individual trusts actually moved to South Dakota to avoid paying taxes on the vast wealth he inherited.
He only receives and pays taxes on $166k of those billions each year. It's easy to be benevolent after your wealthy industrialist grandfathers earned billions and you only pay taxes on a small % of it, plus you have no real expenses since your mansion was paid-in-full generations ago, your vehicles/gas/travel are paid for by the tax payers, etc. He also donated a whopping $1,000 to charity in 2012. What a guy!
Doesn't matter because if income from trust is distributed, beneficiaries are taxed at his/her personal rates in his/her tax residence jurisdiction. Therefore, Mark Dayton cannot access any of this money without paying MN income taxes on it.
Doesn't matter because if income from trust is distributed, beneficiaries are taxed at his/her personal rates in his/her tax residence jurisdiction. Therefore, Mark Dayton cannot access any of this money without paying MN income taxes on it.
Way to defend the 1%. Party first, right? Just kidding. Of course there's no advantage to moving those billions out of state to South Dakota, it's all just a big coincidence.
- In the past four years, the amount of money administered by South Dakota trust companies like these has tripled to $121 billion, almost all of it from out of state. The families needn’t actually move to South Dakota, or deposit their money at a local bank, or even touch down in the private jet. Little more than renting an address in Sioux Falls is required to take advantage of South Dakota’s tax-friendly trust laws.
- States like South Dakota are “creating laws that are conducive to a massive exploitation of a federal tax loophole,” said Edward McCaffery, a professor at the University of Southern California’s Gould School of Law. “We have a tax haven in our midst.”
- While the super-rich use various tools to escape the levy - - some have exotic names like the “Jackie O” trust and the “Walton GRAT” -- the advantage of dynasty trusts is that they shield a family’s wealth forever. That defies the spirit of the estate tax, enacted almost 100 years ago to discourage the perpetuation of dynastic wealth.
- Still others are drawn to South Dakota’s iron-clad secrecy, and protections of trust assets from creditors and ex-wives. Many of these features emulate those available in Bermuda and other island havens. Some wealthy families are also attracted by South Dakota rules that enhance their control over investment decisions and make it easier for them to set up their own trust companies rather than rely on a bank trustee.
- South Dakota repealed that rule in 1983, and unlike Idaho and Wisconsin -- the other two states without the provision -- it had no income tax. So, McDowell wrote, a trust set up here could shield a big fortune from taxes for centuries, escaping tax bills as it hands out cash to great-great-great-grandchildren and beyond.
Doesn't matter because if income from trust is distributed, beneficiaries are taxed at his/her personal rates in his/her tax residence jurisdiction. Therefore, Mark Dayton cannot access any of this money without paying MN income taxes on it.
That's actually what I said. The trusts can have billions, but since he "only" collects $166k a year from it in Minnesota, he only pays Minnesota taxes on the $166k, while the billions parked in South Dakota go untouched by the IRS and the state of South Dakota.
As you've figured out by now, there is also normally an estate tax when a wealthy person dies of 40%. If the wealth lasts generations as with the Dayton's, they'd pay 40% per generation. This law was enacted to help redistribute the excess of wealth amassed by the 1%. By moving all their money out of Minnesota, the Dayton's avoid paying the 40% every time one of the Dayton's dies and passes their fortunes to their heirs.
Governor Silver Spoon, funneling his money out of state to avoid taxes while he calls on others to pay more. This is the Democratic Party.
Politicians look out for themselves and how much money they can pocket. Democrats, republicans....it's all the same. They pretend to care. How stupid are we to keep electing this 2 party system.
Politicians look out for themselves and how much money they can pocket. Democrats, republicans....it's all the same. They pretend to care. How stupid are we to keep electing this 2 party system.
The problem is there is no viable third party. In various places the Libertarian party is somewhat of a force but nationally it only gets 1% of the popular vote. We aren't talking say Dixiecrats in the 1950's or 1960's or H. Ross Perot and Ralph Nader who had a minor effect on the presidential election. Sadly because there isn't an H. Ross Perot trying to throw millions into being president themself, we are stuck into the two-party system.
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You are right.
