Massassi Forums Logo

This is the static archive of the Massassi Forums. The forums are closed indefinitely. Thanks for all the memories!

You can also download Super Old Archived Message Boards from when Massassi first started.

"View" counts are as of the day the forums were archived, and will no longer increase.

ForumsDiscussion Forum → Left Wing Radical Thinktank Megathread.
12
Left Wing Radical Thinktank Megathread.
2011-11-14, 7:22 AM #41
Originally posted by Darth_Alran:
no you get there by being ****ing insane about your money, how its made where its spent how its taxed how you can avoid those taxes, where you can go to avoid them and maximize your profits, figuring out how to produce a cheap product for low costs and charging ridiculous amounts for it.

that really sound like the type of guy that goes... gee... i guess i should stick around here and pay my fair share...

and i was not even commenting on america not having "public" run health care. good god! you all are like a bunch or rabid gophers sitting around just beneath the surface just PRAYING that some thing will be unfortunate enough to accidentally step into your hole so you can gnaw its god damn ankles off! i swear! and then you would all rush out of the hole in the ground with sharpened little sticks and poke at it whilst chanting "OHHO!!! it sucks to be you now! DOESNT IT!!!??? you uncivilised trollop! how DARE you step into our hole!" CHRIST ALMIGHTY!!!

anyways. i was just saying that those two statements seemed to contradict each other a little.

What in the hell are you talking about, make some goddamn sense and punctuate your posts or get out.
2011-11-14, 7:30 AM #42
I think that Jon'C hurt his feelings. :(

I doubt that it was me because I was merely pointing out that one doesn't have to be "left" to think that healthcare is a fundamental "right".
? :)
2011-11-14, 7:54 AM #43
Originally posted by Jon`C:
Yeah, and that's why you're not rich.

If a CEO is forced to work for 200 times the income of an average American, instead of 400 times, do you know what they're going to do? They're going to work, because 200 times the income of an average American is still more money than nothing.

Nobody ever got rich by turning their nose up on potential profits.


You seem to be under the impression they can't make money anywhere else. That's ridiculous.

Rich people get rich by doing everything can to make the most money, maximizing profits.
2011-11-14, 9:26 AM #44
If a CEO making 10 million a year is taxed 90%, he's still making a goddamn million dollars a year.
And nobody is even trying for that type of tax (although a decade long build up might work) they're advocating an extra 5 or 10 percent.
2011-11-14, 9:30 AM #45
Originally posted by Tibby:
If a CEO making 10 million a year is taxed 90%, he's still making a goddamn million dollars a year.
And nobody is even trying for that type of tax (although a decade long build up might work) they're advocating an extra 5 or 10 percent.


And yet if he goes somewhere else, and makes 5 million a year after tax, he's making a goddamn 4 extra million dollars.
2011-11-14, 9:40 AM #46
Where? Everywhere else is taxed as high, if not higher.
2011-11-14, 9:47 AM #47
Originally posted by Deadman:
I could hardly believe it when I first found out Americans don't have healthcare, it blew my mind to hear people were opposed to getting it in.


I have health care.. through my employer. It's pretty good too why do I need to change.
"Nulla tenaci invia est via"
2011-11-14, 9:48 AM #48
Because 30 million people don't.
2011-11-14, 9:53 AM #49
Originally posted by Cool Matty:
You seem to be under the impression they can't make money anywhere else. That's ridiculous.

Rich people get rich by doing everything can to make the most money, maximizing profits.

People are bit "stickier" than that and you seem to be under the impression that the billionaire needs to move. Tax havenry and secrecy jurisdictions frequently mean that the billions can fairly easily take flight on their own without the billionaire moving a foot. Not that it changes the impact on govt. revenue either way.

Any tax rise needs to be coupled with harsher penalties against tax evasion and a tightening on the loopholes available for capital flight and/or real action (I have no idea where you'd even start with this) on tax havens of all kinds.

Alternatively, the whole world can race each other to the bottom and wallow in crap because we're all beholden to a privileged and tetchy few.
2011-11-14, 10:01 AM #50
Originally posted by Tibby:
Where? Everywhere else is taxed as high, if not higher.


http://en.wikipedia.org/wiki/Monaco

It was simply one example.

Originally posted by Recusant:
People are bit "stickier" than that and you seem to be under the impression that the billionaire needs to move. Tax havenry and secrecy jurisdictions frequently mean that the billions can fairly easily take flight on their own without the billionaire moving a foot. Not that it changes the impact on govt. revenue either way.


The last sentence really says it all. If they don't have to move to get the same result then obviously they wouldn't, but it's the result that is the problem.
2011-11-14, 10:04 AM #51
Yes I'm sure they will find plenty of business.
In Monaco.
Right.
The money is in America and that's where they'll stay until it isn't, a 5% tax increase isn't going to force them all out.
2011-11-14, 10:04 AM #52
Originally posted by Tibby:
Because 30 million people don't.


But don't you already think there are enough people on this planet, and Americans are the worst (myself included).. If 30 million of them would just die off we'd probably be in a better place. Just sayin'
"Nulla tenaci invia est via"
2011-11-14, 10:29 AM #53
Originally posted by zanardi:
But don't you already think there are enough people on this planet, and Americans are the worst (myself included).. If 30 million of them would just die off we'd probably be in a better place. Just sayin'


Is this a real post

for really real
"Honey, you got real ugly."
2011-11-14, 10:30 AM #54
Originally posted by Tibby:
Yes I'm sure they will find plenty of business.
In Monaco.
Right.
The money is in America and that's where they'll stay until it isn't, a 5% tax increase isn't going to force them all out.


I don't think you understand how this whole thing works. At all.
2011-11-14, 10:30 AM #55
not for really really real
"Nulla tenaci invia est via"
2011-11-14, 10:40 AM #56
There are several stipulations in Monaco's tax code that would be unattractive to many billionaires (e.g., those receiving royalties through intellectual copyrights). Also, whether or not you live abroad, the U.S. considers your income subject to U.S. income tax. Also, if you marry or become a French "national", you'd then be required to pay income taxes that are higher than you'd pay in the U.S. My wife & I live in France & still have to file our taxes in the U.S. (she's required to do so simply because she holds a Green Card).
? :)
2011-11-14, 10:56 AM #57
Ok, serious question. If you formally renounce your U.S. citizenship are you still required to file in the U.S.?
Welcome to the douchebag club. We'd give you some cookies, but some douche ate all of them. -Rob
2011-11-14, 10:58 AM #58
Originally posted by Tibby:
What in the hell are you talking about, make some goddamn sense and punctuate your posts or get out.


:carl:

ok... i'll make that post a little easier.

Quote:
i was just saying that those two statements seemed to contradict each other a little.


there, thats the only part that was actually serious. now get back to the text adventure game thread!
Welcome to the douchebag club. We'd give you some cookies, but some douche ate all of them. -Rob
2011-11-14, 11:09 AM #59
Yes, US citizens are charged income tax regardless of where they live.

Originally posted by Darth_Alran:
Ok, serious question. If you formally renounce your U.S. citizenship are you still required to file in the U.S.?
Yes and no. You are no longer required to file in the future, but expatriates are instantly charged income tax on the net unrealized gains of their estate (i.e. the taxes you would owe if you instantly sold off all of your property and investments.)

I guess you don't have to pay, as long as you're emigrating to a country that doesn't have an extradition treaty with the US. Like Iran or North Korea.
2011-11-14, 11:36 AM #60
What does this mean? Rich people have two options:

1.) Pay at most 15% long-term capital gains tax on basically their entire income. Probably less - creative accounting, insuring or deducting certain investments (angel credits.)

2.) Pay 35% of their entire net worth right now. The opportunity cost includes all potential future profits from investing that money, as well as any damage it could do to the companies in which they are invested. More importantly, for people with enough money this is probably impossible.

The rich people are stuck in the US because the IRS has them by the balls. If you're seriously worried about a CEO throwing a hissy fit and retiring to Monaco, I really don't know what to tell you.
2011-11-14, 1:51 PM #61
I like how Jon`C pretends to know all of US tax law. I'm sure there are ZERO loopholes or exceptions or other methods for doing this. Anyway, I don't care enough to really find out, so if you think that won't happen, come over here, get citizenship, and start voting.
2011-11-14, 2:29 PM #62
Originally posted by Cool Matty:
I like how Jon`C pretends to know all of US tax law. I'm sure there are ZERO loopholes or exceptions or other methods for doing this.


I like how you admit that you don't have any idea yourself. If you're trying to convince people that a small tax increase on the wealthiest Americans is a bad idea for America, then you're doing a poor job.
"it is time to get a credit card to complete my financial independance" — Tibby, Aug. 2009
2011-11-14, 2:49 PM #63
Can we all agree on a 5% increase? I'm sure we can. An increase to 1950 taxes over ten years also sounds extremely reasonable to me.
And in the 1950s I don't think all the rich people went to Monaco.
2011-11-14, 3:04 PM #64
Originally posted by Cool Matty:
I like how Jon`C pretends to know all of US tax law. I'm sure there are ZERO loopholes or exceptions or other methods for doing this. Anyway, I don't care enough to really find out, so if you think that won't happen, come over here, get citizenship, and start voting.


A loophole allowing people to quit the U.S. and take all their unrealized gains with them tax-free? No, I don't think anyone's lobbied for that one yet.
If you think the waiters are rude, you should see the manager.
2011-11-14, 3:22 PM #65
Originally posted by Michael MacFarlane:
A loophole allowing people to quit the U.S. and take all their unrealized gains with them tax-free? No, I don't think anyone's lobbied for that one yet.


Even if it's a portion it'd be more plausible than what Jon`C is suggesting.
2011-11-14, 3:57 PM #66
Originally posted by Jon`C:
The rich people are stuck in the US because the IRS has them by the balls. If you're seriously worried about a CEO throwing a hissy fit and retiring to Monaco, I really don't know what to tell you.


This exact situation did in fact happen to the UK about 5 years ago. After the wealth tax was passed, MANY moved their capital offshore to Virgin Islands, etc. Also the same thing has been happening in France for many many years, and it is actually costing them money (i remember someone estimating that France actually lost almost 60x the amount they brought in).

The difference is that these countries already have tax rates that are much harsher than the United States. While I agree with a tax increase here in the US, the capital flight concern is one worth noting. When you look at the TMI, there really isn't TOO much room for the United States to go anywhere, which leads me to believe marginal tax revenues wouldn't be as high as many are claiming. But for anyone to be concerned about a 5% increase, it is absolutely ludicrous.

Honestly, all taxes should be based on the elasticity of the object to maximize revenue and social welfare, but I'm sure this would lead to equity concerns...
"His Will Was Set, And Only Death Would Break It"

"None knows what the new day shall bring him"
2011-11-14, 4:03 PM #67
I don't think anyone's worried about that, buck. At least, I'm not.
12

↑ Up to the top!