Do wealthy people owe the 99% something? Should they? (dollars, Seattle, money)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Gates made his money in the US and still does. He is not Apple. MSoft is a US operation. And he does shelter income in his foundation as he has little use for further income. But that is a problem fixable by the tax code. As is the problem of hiding profits overseas.
It is simple. You go where the money is. If the very rich start limiting their income it goes somewhere. Track it and tax it. And if it ends up at lower points on the economic scale great.
And I don't think you will find much real resistance to taxes until very high brackets get above 50%. Clearing 5 million is less nice than 10 million but you don't turn down the 5 million.
The Gates avoid taxes by structuring their income in their charitable trust. And then use a little of that money to prioritize helping those abroad instead of people in need right here at home.
They're globalists. Globalism is depressing American workers' wages via global wage arbitrage. When the barriers to international trade are removed or eroded, jobs move to countries where labor and the cost of doing business is inexpensive and/or impoverished labor moves to countries with higher paying jobs.
I don't care. They are helping people in countries who need it. You need to ask Trump and his daughter why they have their products made overseas and not here. Trump preaches about bringing jobs back to america.....so why not start with his family first.
Should they? I think that is a moral issue, and I think they should. Perhaps not always financial, but they should give something back to the world that has allowed them to become so wealthy. This is a philosophical discussion for me. As someone who is not that wealthy, I give back as much as I can. I set aside what I need to live, a bit for savings, and the rest goes to others. I realize this isn't what everyone does.
Now should this be mandated? No, I don't think so. I do believe everyone who has the means should, however. Just as I believe we should always do what is right (even if most of those things are not mandated or legally-binding - for example, I think it is wrong to cheat on your spouse (assuming it is a traditional monogamous relationship), but it is not illegal to do so).
The wealthy do pay more in taxes (something I agree with), so even if they don't give back willingly, they still do so through the paying of their taxes.
So the universe just hands out money to those it feels should have more than others?
What about working, saving, investing?
I guess all of those who are wealthy just sat by the empty pool and waited for the universe to drop cash into the pool to fill it up.......
PS ~~Why do you think you have the right to choose how someone else spends/uses their money?
"The reason they're wealthy is because of the 99% making them rich. It should be payback time."
The 99% is making them rich? If so, why don't the 99% just stop buying the 1%'s goods/services? Stop making money for them.
i got the same rep message. what he forgets is that many of the rich started out lower middle class or middle middle class, and they made themselves rich. dave thomas built the wendys chain. he started out with a hamburger stand. ray kroch took a creation by the mcdonalds brothers, and with their help started the mcdonalds franchise. and while bill gates was not exactly poor, he did make microsoft into a multi billion dollar corporation. and there are plenty of stories about people building wealth from very little.
the reality is that you can take everything away from a rich person, and give it to the needy, and that former rich person will make themselves rich again, and the needy will ultimately remain needy for the most part.
Gates never used H-1B visa workers he paid less rather than American workers? Since when? In fact, Gates is pro lower wage H-1Bs.
Quote:
He is not Apple. MSoft is a US operation. And he does shelter income in his foundation as he has little use for further income. But that is a problem fixable by the tax code. As is the problem of hiding profits overseas.
It is simple. You go where the money is. If the very rich start limiting their income it goes somewhere.
Not necessarily. A more likely result is that productivity and therefore GDP declines.
Quote:
Track it and tax it. And if it ends up at lower points on the economic scale great.
And I don't think you will find much real resistance to taxes until very high brackets get above 50%. Clearing 5 million is less nice than 10 million but you don't turn down the 5 million.
That disincentivizes productivity, unless everyone else is paying the same tax rate, too. Well-known economic effect.
I don't care. They are helping people in countries who need it. You need to ask Trump and his daughter why they have their products made overseas and not here. Trump preaches about bringing jobs back to america.....so why not start with his family first.
In other words, Bill and Melinda Gates get a pass from you because you agree with them policy wise and politically, but Trump and Ivanka don't because you disagree with them politically and don't like them.
(for the record, I agree with you about Trump, but I agree with IC about Bill and Melinda Gates)
In other words, Bill and Melinda Gates get a pass from you because you agree with them policy wise and politically, but Trump and Ivanka don't because you disagree with them politically and don't like them.
(for the record, I agree with you about Trump, but I agree with IC about Bill and Melinda Gates)
This has nothing to do with politics. But if Trump believed what he said about bringing jobs back then he and his daughter would do that.
This has nothing to do with politics. But if Trump believed what he said about bringing jobs back then he and his daughter would do that.
once again you forget that trump doesnt make their own clothing lines, they just let a clothing manufacturer put their name on a clothing line. and that means the trumps have no control over the clothed themselves, or where they are made.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.