Gordon Gray
Well-known member
I heard he gives quite a bit away to charities, non profits, etc. True?
The DON / redux
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As you may have seen in past threads. I'm not a proponent of taxing people at higher rates because they can 'afford' it. Of course affording is relative. My belief is simply successful people should be applauded not penalized. I'm sure if you did the math on buffets figure at 17% that would also be a ridiculous number. But according to many that bottom line figure is just not enough. And let's not get into that discussion as I just don't believe it is fair. It's really aligning spending with taxes. Not the other way around.
Bernard
Well-known member
I've read a few times that his charitable donations are through the Bill and Melinda Gates Foundation, as it is very well managed. I've no idea, though, how much he gives, but I think he released his taxes recently in a challenge, so it should be easy to find that out.
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while we have(for the most part) kept this thread civil I thought I'd share this video with all, a reminder of what we stand for .........
http://puttinguptheflag.com
http://puttinguptheflag.com
FLT
Member
Thank You for posting this!
ElectroNoob
Well-known member
The wealthy benefits most of the investments made by the government so they should pay more in taxes. They benefit from a more education work force, better infrastructure, low crime, and social and economic stability. You can be a billionaire in this country without worrying about you or your relatives being kidnapped for ransom. Your business can attract enough skill workers to be a world class enterprise. You don't have to worry about being extorted by government officials or that your wealth can be taken away from you at anytime. If you look at every developed country, personal tax rates are way higher (http://money.cnn.com/interactive/pf/taxes/top-income-tax-rate/?iid=EL).
Also effective tax rates are kinda interesting, they keep going up relative to your income until you are rich enough to hire your own team of tax lawyers. After that point your rate starts going down because you can take advantage of tax loopholes. https://americansfortaxfairness.org...-booklet/fact-sheet-taxing-wealthy-americans/
-Are you suggesting that average Americans which you may or may not be don't benefit from an educated work force that are more productive and help bring stability to the economy? That you don't benefit from a better infrastructure of the country? That you don't benefit from a lower crime rate? That social and economic stability is of no value to you?
-If you are not a billionaire as I am not do you worry you or your relatives are going to be kidnapped in our country?
-No benefit to the now skilled workers that made the effort to become a skilled workers in the same country using the same system?
So you work hard to build a business and the government takes 35% of what you make?
-If you want the government to take care of all of your needs and mandates as to your vacation time and tell companies when they can and can't close plants and let workers go then your preference would be one of those countries.
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ElectroNoob
Well-known member
Yes the average American does benefit but the top percent take more advantage of it. If you are a CEO of a Fortune 500 company, you benefit more from federal investments than an average tax payer you benefits more from local state investments. That's why companies spend so much money to lobby politicians in Washington DC.
Kidnapping for ransom is pretty rampant in most of the developing world. Central America, South America, South East Asia, Africa, Eastern Europe, etc. My ex-boss who came the Philippines has a armed escort with her while she is traveling in her country.
Skilled workers don't fall from the sky, it comes from investments from the Federal government from and educational standpoint. From an immigration standpoint, your country have to be to provide enough opportunities to attract immigrants. The reason why the US is able to maintain it's high level of innovation why still being near the bottom in terms of education is because we are brain draining the entire world.
If you look at European countries they pay far more taxes. Denmark has a 60% tax rate for the wealthiest.
There is a difference between extortion and regulation. People are able to vote on propositions and government officials the set regulations. In countries where extortion is common, the average people usually have no say in their government or laws.
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This NY Times article it talks about the Top 400.
https://www.nytimes.com/2015/12/30/...vate-tax-system-saves-them-billions.html?_r=0
Warren Buffet paid an effective tax of 17%. My tax rate was almost twice as much in 2016. I don't think that is fair (and neither does he).
adeep42
Well-known member
Electronoob.
So your effective rate was 34%. Congratulations!! You are one of the so called rich that is being neighborly helping the poor and down trodden by subsidizing programs with your tax dollars. You should feel good about this!! You need to move up to the masterpiece series!!
. All tongue in cheek of course. I am sure the masses would think that if you qualify for the 30+% bracket. Well doggone it. You owe it to your country. You can obviously 'afford' it
So your effective rate was 34%. Congratulations!! You are one of the so called rich that is being neighborly helping the poor and down trodden by subsidizing programs with your tax dollars. You should feel good about this!! You need to move up to the masterpiece series!!
. All tongue in cheek of course. I am sure the masses would think that if you qualify for the 30+% bracket. Well doggone it. You owe it to your country. You can obviously 'afford' it
Gordon Gray
Well-known member
So guys.
How about the health care bill that passed the House with no vote to spare. Seems very deficient: pre-existing conditions, states can apply for a waiver, no guarantee of Medicaid providing subsidies to insure affordability to lower income folks or folks with pre-existing conditions as the current law requires for states that currently provide this benefit, etc.
And can someone explain to me why this is a tax cut for the rich folks?
Gordon
How about the health care bill that passed the House with no vote to spare. Seems very deficient: pre-existing conditions, states can apply for a waiver, no guarantee of Medicaid providing subsidies to insure affordability to lower income folks or folks with pre-existing conditions as the current law requires for states that currently provide this benefit, etc.
And can someone explain to me why this is a tax cut for the rich folks?
Gordon
Just like the last health care bill. Nobody even knows what it really is. That in itself is a sure sign. I'm tired of these blow hards. It doesn't matter what side you lean. If you think someone in the parties is looking after yourself that would be a mistake. It's up to you to make good choices and work within whatever system they provide. I don't believe in 'the greater good' anymore. All that phrase means is Not Me!! Nor anyone else I know. I believe Keynes said 'there will always be poor'.
I believe that statement to be accurate.
I believe that statement to be accurate.
Great clip Dave, Thanks for posting it.
We fly 2 flags on our front porch. It is surprising how many family members comment on them upon arrival.
adeep42
Well-known member
"You're fired". At least on TV he did it in person. Classless chicken s--t!
Gordon Gray
Well-known member
The stench is becoming somewhat overwhelming.
Stench? No, not at all. I'm catching a whiff of the sweet smell of impending impeachment.
adeep42
Well-known member
Rich, impeachment has to start in the House. Highly improbable at least for about two years. My way out scenario includes family ethical issues bordering on criminal, continuing erosion of the base, criticism of his healthcare, tax reform, drain the swamp, ecological, regulatory and foreign policy initiatives leading to constant demonstrations in the streets. He can't take it, so he quits or has a serious emotional breakdown and has to be removed. That's a horrible way to think, but considering that members of the mental health profession have called him a "malignant narcissist" and a sociopath, it's a real possibility.
FLT
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