Who Pays Income Taxes?

[quote]Headhunter wrote:
Wreckless wrote:

You shouldn’t speak about stuff you don’t know the first thing about. About morality for instance.

One of my degrees is in Philosophy. I’d wager I know more about it than a blowhard like you.

[/quote]

Oh puhleese. I’ve read your whining posts about taxes.

You might have studied philosophy, you surely didn’t learn anything from it.

[quote]Smitty88 wrote:
orion wrote:
Smitty88 wrote:

So your a “rich guy wannabe?”

Okay, less time on the message boards and more time creating wealth.

Now run along.

Darling, if we compared our incomes, you would weep.

Yes, I would probably laugh until I had tears in my eyes.

Seriously, trying to pretend that you make more than me, or anyone you don’t know is just stupid.

Internet nonsense.

[/quote]

No, statistics…

And no, a lemonade stand does not count as self-employment…

By the way, this is all you feel like responding to?

Goodbye then, oh mighty warrior, greatest money-maker of them all, all-knowing oracle, entrepreneure extraordinaire and general enrichement of all the lives you have touched…

PS: I think you are stupid, as in uneducated, not formed by experience, well, juvenile…

PPS: Yes, you get to have the last word…

PPPS: Enjoy!!!

[quote]Smitty88 wrote:

What I’m agianst is people who wine about how much tax they pay while not asking the basic question of why?

LOL…“wine.” Yea I bet you make a ton of money with a vocabulary like that.

Wahahaha…
[/quote]

You didn’t answer the question. why do you think the tax system is the way that it is.

Well, the truly wealthy do have something to be happy about.
http://www.pww.org/article/articleprint/9397/

[quote]Smitty88 wrote:

oh well, it is midnight and I am bored…

Yea, most rich people that I know are usually up at midnight being bored. They never have to get up early and perform or anything. All they do is hang out at night on the Internet and sleep late.

:slight_smile:

[/quote]

That’s right man, got five days off this week. Just hanging out, put in a new sink, watched the Yankees last night. Oh, and I’m getting ready to install some crown molding tommarow. then go to the gym. All by noon. Have fun at work. Ha, ha ha ha ha ha hahahahahhahhahah \hahahahahahahhahahahahahahhhhhhhhhhahahahahhahahhahahhahahahhahha

[quote]Smitty88 wrote:
orion wrote:
Smitty88 wrote:

Seriously, trying to pretend that you make more than me, or anyone you don’t know is just stupid.

Internet nonsense.

[/quote]

Who cares how much money you make.
Grow up.

[quote]summa wrote:

  1. I am a capitalist.
  2. I want to be very rich.
  3. I know companies are doing whatever they can to make management rich. They do not care about you or I.
  4. I love the financial world. That is whey I do what I do. I just do not have my head up my ass.
    Consider the following:

“If we had nothing else to do, the accounting investigations alone could keep us busy for the next five or 10 years?”

  • Richard Walker, SEC enforcement chief, CFO.com, 7/6/01

"Let’s make pro forma earnings be what earnings should have been in the first place. "

  • Jack Ciesielski, The Analyst’s Accounting Observer, Jan. 18, 2002

“Consider that the average tech company… is a capital-intensive, highly cyclical, optionsaccounting, CEO-enriching, non-dividend-paying, short shelf-life entity, with its profits usually to be sought from declining product prices, yet to be sold at price-earnings multiples in the upper twenties, thirties and far, far beyond.”

“I believe the country faces a critical crossroad and that the decisions that are made or not made within the next 10 years or so will have a profound effect on the future of our country, our children and our grandchildren. The problem gets bigger every day, and the tidal wave gets closer every day.”

  • David Walker, comptroller general Aug. 2005

“The fate of the world economy is now totally dependent on the growth of the U.S. economy, which is dependent on the stock market, whose growth is dependent on about 50 stocks, half of which have never reported any earnings.”

  • former Federal Reserve Chairman Paul Volcker, September 1999

“The aggressive mindset of the world’s economic powerhouse may need to be replaced with the humility appropriate for the world’s biggest debtor nation.”

  • Berry Riley, Financial Times, April 2001

“Too much debt, geopolitical risk and several bubbles have created a very unstable environment which can turn any minute. More than any point in the past 20 or 30 years, there’s potential for a reversal.”

  • Bill Gross, Financial Times, June 2004

Thinking things can improve is not a left wing agenda. If things don’t improve the financial situation for everyone except the rich will deteriorate. The US has to find money to finance it’s debt and social obligations. When a CEO makes $100 million for only being a figurehead or better yet for being fired, that is a good place to look.
[/quote]

good post. Now let’s just pray the real estate market has a soft landing.
I’ll bet you love watching CNBC.

[quote]rainjack wrote:
Now run back to your pathetic middle management job and wait in your cubicle for break time. [/quote]

Hey, I resemble that remark!

[quote]orion wrote:
Smitty88 wrote:
orion wrote:
Smitty88 wrote:

So your a “rich guy wannabe?”

Okay, less time on the message boards and more time creating wealth.

Now run along.

Darling, if we compared our incomes, you would weep.

Yes, I would probably laugh until I had tears in my eyes.

Seriously, trying to pretend that you make more than me, or anyone you don’t know is just stupid.

Internet nonsense.

No, statistics…

And no, a lemonade stand does not count as self-employment…

By the way, this is all you feel like responding to?

Goodbye then, oh mighty warrior, [/quote]

Goodbye liberal austrian dog.

LOL

[quote]Skystud wrote:

You didn’t answer the question. why do you think the tax system is the way that it is.[/quote]

I think there are many factors involved. Not the least of which is politics. What do you think Skystud?

[quote]Skystud wrote:
Smitty88 wrote:

oh well, it is midnight and I am bored…

Yea, most rich people that I know are usually up at midnight being bored. They never have to get up early and perform or anything. All they do is hang out at night on the Internet and sleep late.

:slight_smile:

That’s right man, got five days off this week. Just hanging out, put in a new sink, watched the Yankees last night. Oh, and I’m getting ready to install some crown molding tommarow. then go to the gym. All by noon. Have fun at work. Ha, ha ha ha ha ha hahahahahhahhahah \hahahahahahahhahahahahahahhhhhhhhhhahahahahhahahhahahhahahahhahha[/quote]

And of course: hahahahahahahahahahahaahahahahahaha

[quote]Skystud wrote:
Smitty88 wrote:
orion wrote:
Smitty88 wrote:

Seriously, trying to pretend that you make more than me, or anyone you don’t know is just stupid.

Internet nonsense.

Who cares how much money you make.
Grow up.[/quote]

That would be orion you are speaking to not me. As orion is the one who made such a foolish claim.

PAY ATTENTION or I’ll have to give you a zero for the course.

[quote]Wreckless wrote:
Headhunter wrote:
Wreckless wrote:

You shouldn’t speak about stuff you don’t know the first thing about. About morality for instance.

One of my degrees is in Philosophy. I’d wager I know more about it than a blowhard like you.

Oh puhleese. I’ve read your whining posts about taxes.

You might have studied philosophy, you surely didn’t learn anything from it.[/quote]

Ummm…you’re not an American so I’ll give you the benefit of the doubt…saying ‘puhleese’ means you are on the homo-suspicion list.

What IS philosophy, Wreckless? How does it help us to decide right and wrong? What standards ARE there, in your little world, for deciding such things? Are you a moral relativist?

[quote]Wreckless wrote:
Headhunter wrote:
Wreckless wrote:

You shouldn’t speak about stuff you don’t know the first thing about. About morality for instance.

One of my degrees is in Philosophy. I’d wager I know more about it than a blowhard like you.

Oh puhleese. I’ve read your whining posts about taxes.

You might have studied philosophy, you surely didn’t learn anything from it.[/quote]

Headhunter

A little off topic, but I watched Scary Movie 4 last night. A quote reminded me of Wreckless.

“What’s the difference between a Belgian and a pile of shit?”

“The Belgian drinks wine, and the pile of shit smells better.”

[quote]Smitty88 wrote:
Skystud wrote:

You didn’t answer the question. why do you think the tax system is the way that it is.

I think there are many factors involved. Not the least of which is politics. What do you think Skystud?

[/quote]
Well not too long ago the congress voted to eliminate the estate tax. But they also voted down a raise of the minimum wage. The wealthy got what they wanted, while leaving the poor to starve. How do you explain that? Oh, and if you say that only 18 year olds do jobs that pay minimum wage, I would remind you that a lot of old people who are retired do those jobs as well. wtf.

[quote]Smitty88 wrote:
Marmadogg wrote:

You strike me a wingnut that is too lazy to read.

And you strike me as someone who doesn’t know his ass from first base. When you actually earn a few bucks you might just catch on. Until then …
[/quote]

You are a clown.

[quote]Smitty88 wrote:
orion wrote:
Smitty88 wrote:
orion wrote:
Smitty88 wrote:

This is what you said: The super rich don`t pay nothing, only around 15-20 % or so if they are clever…

While you have danced quite well around the issue, you have not PROVEN your original assertion. In fact, you have not even come close.

But I have PROVEN that they have the possibility do avoid paying taxes

Yes, they do. Just like the waitress who has the “possibility” of not reporting her tip money as income. Why are you not complaining about her? In fact, there are far more “average Joe’s” NOT paying their taxes. The underground economy is alive and well and it functions primarily from regular people who somehow forget to pay taxes on ALL of the money that they have earned.

Can I prove this? No. No more than you can prove that the wealthy dont’ pay what the are supposed to.

and yes, it is kind of hard to find a statistic for taxes NOT paid.

Right.

If you want to believe that the rich pay more taxes than they absolutely have to, even though there are armies of tax lawyers and accountants preventing just that,please, be my guest.

I believe that everyone pays only what they have to. However, to make a claim that the wealthy pay less than the average person is simply wrong.

Apparently you don`t get what I am trying to say.

I said that the “rich” pay around 15-20 % if they are clever. I explained how they do it. I never mentioned “cheating” , “unfair” or any other moral judgement.

The judging part is entirely in your head and has nothing to do with what I wrote. I also told you that on issues like that you are probably on my left, you just refuse to believe it.

Then I made the claim that they pay so little while the middle class pays so much, percentage wise !!!, is that capital can very easily be transferred to investment friendlier regions while the Joe Average cannot do the same.

Now the one part you could argue with me about is if the amount the “rich” pay is fair or not…

That is a question however I am not very concerned about. Those greedy fuckers lay their hands on anything they can get and they can?t get to rich peoples money (yet).

I want to become very rich, which is why I try to understand how the game is played.

So, to sum it up:

If they are clever they only pay around 15-20 &% taxes. Marmadogg posted an example.

That is totally legal, I posted a link (twice) how you could do the same in the US, given you had a few million dollars at your disposal.

To the “rich” pay more than the average person? Yes, because a smaller share of much more money still can still be more in absolute terms.

So your a “rich guy wannabe?”

Okay, less time on the message boards and more time creating wealth.

Now run along.
[/quote]

I am not worth 100s of millions like some wealthy people I know but I still get crushed by AMT.

[quote]Smitty88 wrote:
Skystud wrote:

You didn’t answer the question. why do you think the tax system is the way that it is.

I think there are many factors involved. Not the least of which is politics. What do you think Skystud?[/quote]

I know you did not ask me but the Great Depression shaped much of our tax system.

[quote]Marmadogg wrote:
I know you did not ask me but the Great Depression shaped much of our tax system.[/quote]

Indirectly. It was FDR’s fucking New Deal that killed us. That and Social Security.

[quote]rainjack wrote:
Marmadogg wrote:
I know you did not ask me but the Great Depression shaped much of our tax system.

Indirectly. It was FDR’s fucking New Deal that killed us. That and Social Security.

[/quote]

Without the Great Depression we would not have the New Deal and Social Security.