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OfflineBrian Jones
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Re: The Only Person Who Can Defeat Trump [Re: meltdowner] * 1
    #26339465 - 11/23/19 04:00 AM (4 years, 2 months ago)

Quote:

meltdowner said:
Quote:

Brian Jones said:
Quote:

CornboySavage said:
my wages are up, my stocks are up, my dick is up

I understand if it aint working for you but things have never been better for me




What stocks do you have that are up?



AMD
most stocks are up.  As is my 401k.
Not.sure why anyone is hating Trump.  He's doing a great job...exactly what he ran on.  First honest politician ive ever seen.  If the media hates you, youre doing it right.




You are making shit up. Trump had good market gains with his tax cut that future generations have to pay for. His trade war screwed the stock market and made American consumers pay higher prices. It was a complete lose/lose.  If you disagree, post CURRENT data that shows that Trump's stock market rates well compared to other Presidents.


--------------------
"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


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OfflineSugabearcrisp
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Re: The Only Person Who Can Defeat Trump [Re: Kryptos]
    #26339500 - 11/23/19 05:18 AM (4 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
Quote:

Sugabearcrisp said:
Capital gains is a bit tricky... Make it progressive and linked to income and investment dries up or leaves for more favorable climates.



That's like saying make income tax progressive and work will dry up.

Capital gains only taxes gains.  Anyone would rather take a gain taxed at 50% than no gain at all taxed at 0%.

Example:
$1,000,000 gained taxed at 50% = $500,000 pocketed
$0 gained taxed at 0% = $0 pocketed.

Would you rather have $500,000 or $0?



No it is not. People make income where they live and pay taxes on it where they live. Investment income as I mentioned is highly mobile. If I am rich I can move my money to somewhere else and avoid the 50% capital gains tax. And I'll do it before Warren or Bernie even gets into office and way before any law is passed.

In terms of work drying up if they make the top rated high enough either my wife or I will stop working. Plain and simple, we are high tech workers in the top earning stage of our lives, already paying close to 50% to the govts local and fed. If you bump the top rates higher she will stop working, maybe grow shrooms for cash and tax revenue will be down.

Quote:

Kryptos said:
Quote:

Sugabearcrisp said:
Quote:

Morel Guy said:
Idolizing billionaires gets people nowhere.



Nor will demonizing them.

They're just people with more money, some like Bezos were not born rich, some were. Some people like shaq were born with physical talents that made them rich, others like gates were born with mental talents that made them rich.

Hate the game if you want but don't hate the winners cause they won, that just makes you a sore loser.




Bezos' family owned a 25,000 acre ranch, he is related to a guy known as "The King of Country" (music), and his father is an engineer.

He was born into the top 1%.




Try reading the wiki next time. Bezos parents were school teachers and bike shop owners. A 25000 acre ranch in Texas doesn't put you in the to 1% ... unless it's sitting on a huge oil deposit.


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Indirect Weighing tek


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OfflineKryptos
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Re: The Only Person Who Can Defeat Trump [Re: Sugabearcrisp]
    #26339934 - 11/23/19 11:05 AM (4 years, 2 months ago)

Quote:

Sugabearcrisp said:
Quote:

Falcon91Wolvrn03 said:
Quote:

Sugabearcrisp said:
Capital gains is a bit tricky... Make it progressive and linked to income and investment dries up or leaves for more favorable climates.



That's like saying make income tax progressive and work will dry up.

Capital gains only taxes gains.  Anyone would rather take a gain taxed at 50% than no gain at all taxed at 0%.

Example:
$1,000,000 gained taxed at 50% = $500,000 pocketed
$0 gained taxed at 0% = $0 pocketed.

Would you rather have $500,000 or $0?



No it is not. People make income where they live and pay taxes on it where they live. Investment income as I mentioned is highly mobile. If I am rich I can move my money to somewhere else and avoid the 50% capital gains tax. And I'll do it before Warren or Bernie even gets into office and way before any law is passed.

In terms of work drying up if they make the top rated high enough either my wife or I will stop working. Plain and simple, we are high tech workers in the top earning stage of our lives, already paying close to 50% to the govts local and fed. If you bump the top rates higher she will stop working, maybe grow shrooms for cash and tax revenue will be down.





Lol "If taxes go up, I'll just stop working!"

Gonna be a welfare queen?


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InvisibleballsalsaMDiscord
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Re: The Only Person Who Can Defeat Trump [Re: Kryptos]
    #26339955 - 11/23/19 11:20 AM (4 years, 2 months ago)

Thats how it works, bruh.  Thats why nobody worked until Reagan


--------------------


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OfflineFalcon91Wolvrn03
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Re: The Only Person Who Can Defeat Trump [Re: Sugabearcrisp] * 2
    #26339957 - 11/23/19 11:21 AM (4 years, 2 months ago)

Quote:

Sugabearcrisp said:
Quote:

Falcon91Wolvrn03 said:
Capital gains only taxes gains.  Anyone would rather take a gain taxed at 50% than no gain at all taxed at 0%.

Example:
$1,000,000 gained taxed at 50% = $500,000 pocketed
$0 gained taxed at 0% = $0 pocketed.

Would you rather have $500,000 or $0?



No it is not. People make income where they live and pay taxes on it where they live. Investment income as I mentioned is highly mobile. If I am rich I can move my money to somewhere else and avoid the 50% capital gains tax. And I'll do it before Warren or Bernie even gets into office and way before any law is passed.



Incorrect.  All US citizens are subject to US taxes on both their income and capital gains, no matter where the money is located, and no matter where that person is living.  You get a foreign tax credit for any taxes you already paid abroad, but you still have to pay whatever balance is left to the US, so moving money doesn't reduce your tax burden.

Quote:

Sugabearcrisp said:
In terms of work drying up if they make the top rated high enough either my wife or I will stop working. Plain and simple, we are high tech workers in the top earning stage of our lives, already paying close to 50% to the govts local and fed. If you bump the top rates higher she will stop working, maybe grow shrooms for cash and tax revenue will be down.



Using my example above, if you'd rather take home peanuts taxed at 0% than $500,000 taxed at 50%, then you're not the brightest.


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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OfflineKryptos
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Re: The Only Person Who Can Defeat Trump [Re: ballsalsa] * 1
    #26339960 - 11/23/19 11:23 AM (4 years, 2 months ago)

Quote:

ballsalsa said:
Thats how it works, bruh.  Thats why nobody worked until Reagan




Interesting. So the golden age of the post war US never happened?


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OfflineFalcon91Wolvrn03
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Re: The Only Person Who Can Defeat Trump [Re: Kryptos] * 1
    #26339962 - 11/23/19 11:24 AM (4 years, 2 months ago)

Fake news.  :lol:


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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OfflineSugabearcrisp
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Re: The Only Person Who Can Defeat Trump [Re: Falcon91Wolvrn03]
    #26340007 - 11/23/19 11:42 AM (4 years, 2 months ago)

If you think there aren't ways for billionaires to transfer wealth outside the country and continue to earn on it you are naive.

Even in your scenario the tax credit for foreign taxes paid is still money not in the fed reserve.

Lolz at your 500k scenario, do you even know tax code? Cause that ain't how it works and you showed how ignorant you are with that statement


--------------------
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OfflineFalcon91Wolvrn03
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Re: The Only Person Who Can Defeat Trump [Re: Sugabearcrisp]
    #26340039 - 11/23/19 11:55 AM (4 years, 2 months ago)

Of course they can transfer wealth outside the country.  My point is that it doesn't matter, it's still subject to US taxes.

Yes, I know the tax code, I have an MBA.

If you can show I'm wrong about this with links, please do.  I'm always happy to learn something new.  :popcorn:


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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OfflineKryptos
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Re: The Only Person Who Can Defeat Trump [Re: Falcon91Wolvrn03]
    #26340058 - 11/23/19 12:01 PM (4 years, 2 months ago)

I think suga is suggesting that since you're using hypothetical numbers, your argument is bullshit.


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OfflineMorel Guy
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Re: The Only Person Who Can Defeat Trump [Re: Kryptos]
    #26340073 - 11/23/19 12:08 PM (4 years, 2 months ago)

It is still a tax shelter to protect investments

Money gets a fee for transfer in or out of the country but nobody pays taxes on money outside of the nation that is increasing interest.


--------------------
"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found


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OfflineFalcon91Wolvrn03
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Re: The Only Person Who Can Defeat Trump [Re: Kryptos]
    #26340075 - 11/23/19 12:09 PM (4 years, 2 months ago)

Quote:

Kryptos said:
Quote:

Falcon91Wolvrn03 said:
Quote:

Sugabearcrisp said:
Lolz at your 500k scenario, do you even know tax code? Cause that ain't how it works and you showed how ignorant you are with that statement



Of course they can transfer wealth outside the country.  My point is that it doesn't matter, it's still subject to US taxes.

Yes, I know the tax code, I have an MBA.

If you can show I'm wrong about this with links, please do.  I'm always happy to learn something new.  :popcorn:



I think suga is suggesting that since you're using hypothetical numbers, your argument is bullshit.



If so, my numbers might be slightly different using today's actual tax rates, which I'll use instead if asked.  But the concept is the same.


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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OfflineFalcon91Wolvrn03
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Re: The Only Person Who Can Defeat Trump [Re: Morel Guy]
    #26340090 - 11/23/19 12:17 PM (4 years, 2 months ago)

Quote:

Morel Guy said:
It is still a tax shelter to protect investments



No, it is not.  US citizens are subject to US taxes no matter where their money is, and no matter where they are.

If You Trade Around The World, You Need To Know IRS Rules


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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OfflineMorel Guy
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Re: The Only Person Who Can Defeat Trump [Re: Falcon91Wolvrn03]
    #26340102 - 11/23/19 12:23 PM (4 years, 2 months ago)

Proof and proof it actually works?

If it is like us customs it's a huge fail.


--------------------
"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found


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OfflineMorel Guy
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Re: The Only Person Who Can Defeat Trump [Re: Morel Guy]
    #26340106 - 11/23/19 12:26 PM (4 years, 2 months ago)

https://en.m.wikipedia.org/wiki/Tax_shelter

I don't have a fancy schmancy know it all degree


--------------------
"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found


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OfflineFalcon91Wolvrn03
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Re: The Only Person Who Can Defeat Trump [Re: Morel Guy]
    #26340378 - 11/23/19 02:08 PM (4 years, 2 months ago)

Quote:

Morel Guy said:
https://en.m.wikipedia.org/wiki/Tax_shelter

I don't have a fancy schmancy know it all degree



Did I say there were no such thing as a tax shelters?  No, I said capital gains are taxed whether they are earned in the US or abroad.

Can you tell us where in your link it says capital gains made abroad are exempt from the US capital gains tax?


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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Offlinedreamachine

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Re: The Only Person Who Can Defeat Trump [Re: CornboySavage]
    #26340379 - 11/23/19 02:08 PM (4 years, 2 months ago)

Quote:

CornboySavage said:
The rise in censorship is abhorrent yet people do not make the effort to learn the fact of the matter anyways. Censorship as it is now, does not stop you from going beyond the mainstream narrative but you can lead a horse to water you cant make em drink.

If they chose to watch a fairytale network spin agendas into hurricanes then its their god given right as americans to do so

Censoring speech on a platform that is owned by a private citizen is something you consent to.

You all agreed to the terms of serivce on the website it doesnt matter if you read the agreement or not you legally signed off on being ok with this. You should not have accepted the terms of service.



Have you heard of Section 230 of the Telecommunications Act? If I'm not mistaken it provides 'platforms' with liability protection against being sued because they are 'platforms' and thus cannot logical be held responsible for what individuals post on said 'platform'. However, as soon as these 'platforms' decided to curate/censor their content they became, in effect, publishers, like newspapers, and under law they broke their own 'terms of service' with the Law.

And thus they should now be liable under law for the content that they curate and provide. In effect this means they're protection on S230 should be revoked (meaning that people will be able to sue them out of business) for content on their site that constitutes itself in anyway as being illegal (slander/libel would probably be one of the easiest, however I can imagine that death threats and all kinds of other illegal activity is hosted on these private companies 'platforms'.


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OfflineKryptos
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Re: The Only Person Who Can Defeat Trump [Re: Morel Guy] * 1
    #26340382 - 11/23/19 02:11 PM (4 years, 2 months ago)

The kind of tax shelter you're talking about is insanely illegal.

There is a reason that Obama put in a bunch of banking regulations that banks had to adhere to worldwide if they wanted to do business with (a) US banks and (b) US citizens (legally). And there is a reason donnie scrapped most of those regulations.


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OfflineKryptos
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Re: The Only Person Who Can Defeat Trump [Re: dreamachine]
    #26340386 - 11/23/19 02:12 PM (4 years, 2 months ago)

Quote:

dreamachine said:
Quote:

CornboySavage said:
The rise in censorship is abhorrent yet people do not make the effort to learn the fact of the matter anyways. Censorship as it is now, does not stop you from going beyond the mainstream narrative but you can lead a horse to water you cant make em drink.

If they chose to watch a fairytale network spin agendas into hurricanes then its their god given right as americans to do so

Censoring speech on a platform that is owned by a private citizen is something you consent to.

You all agreed to the terms of serivce on the website it doesnt matter if you read the agreement or not you legally signed off on being ok with this. You should not have accepted the terms of service.



Have you heard of Section 230 of the Telecommunications Act? If I'm not mistaken it provides 'platforms' with liability protection against being sued because they are 'platforms' and thus cannot logical be held responsible for what individuals post on said 'platform'. However, as soon as these 'platforms' decided to curate/censor their content they became, in effect, publishers, like newspapers, and under law they broke their own 'terms of service' with the Law.

And thus they should now be liable under law for the content that they curate and provide. In effect this means they're protection on S230 should be revoked (meaning that people will be able to sue them out of business) for content on their site that constitutes itself in anyway as being illegal (slander/libel would probably be one of the easiest, however I can imagine that death threats and all kinds of other illegal activity is hosted on these private companies 'platforms'.




Curating content does not make you a publisher, and being a publisher does not make to liable for what people say on your platform.

Otherwise, Fox wouldn't have so many "opinion" and "entertainment" segments, they'd get sued out of existence.


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Offlinedreamachine

Registered: 11/17/19
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Re: The Only Person Who Can Defeat Trump [Re: dreamachine] * 2
    #26340388 - 11/23/19 02:13 PM (4 years, 2 months ago)



That image should really cut through the bullshit when it comes to the righteousness of the rich and wealthy; or should I say lack there of.


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