Obama tax policy penalize family

[TheBreeze]

[quote=asianautica]
What make you think guys like Mozilo won’t find ways around the tax code? All they have to do is get paid $1/yr like Steve Jobs did and get paid the rest in option.[/quote]

That’s easily fixable. All we have to do is tax capital gains at the same rate as income. Problem solved.

[TheBreeze]

[quote=asianautica]Here’s the new break down of the two candidate’s tax proposals:
[img_assist|nid=8073|title=tax_impact|desc=|link=node|align=left|width=220|height=304]

If you make more than $112k, you’ll be benefited from McCain’s tax policy while if you make less than $112k, Obama’s plan will help you more. @ $66k-112k, the increase tax saving under Obama’s plan will only be ~$290. That’s pretty negligible in my view.[/quote]

It looks like the tax plans are pretty much the same until you get above $600,000 in income. Do you seriously think capitalism is going to fall apart because someone making $600,000 a year has to pay an extra 1% of their income in taxes? I think capitalism will be able to withstand such a viscious assault.

AN, you really need to get out and experience the world. There are greater injustices than some rich asshole having to pay an extra 1% in taxes. Some of these injustices even occur right here in America.

[TheBreeze]

[quote=asianautica]Here’s the new break down of the two candidate’s tax proposals:
[img_assist|nid=8073|title=tax_impact|desc=|link=node|align=left|width=220|height=304]

If you make more than $112k, you’ll be benefited from McCain’s tax policy while if you make less than $112k, Obama’s plan will help you more. @ $66k-112k, the increase tax saving under Obama’s plan will only be ~$290. That’s pretty negligible in my view.[/quote]

It looks like the tax plans are pretty much the same until you get above $600,000 in income. Do you seriously think capitalism is going to fall apart because someone making $600,000 a year has to pay an extra 1% of their income in taxes? I think capitalism will be able to withstand such a viscious assault.

AN, you really need to get out and experience the world. There are greater injustices than some rich asshole having to pay an extra 1% in taxes. Some of these injustices even occur right here in America.

[TheBreeze]

[quote=asianautica]Here’s the new break down of the two candidate’s tax proposals:
[img_assist|nid=8073|title=tax_impact|desc=|link=node|align=left|width=220|height=304]

If you make more than $112k, you’ll be benefited from McCain’s tax policy while if you make less than $112k, Obama’s plan will help you more. @ $66k-112k, the increase tax saving under Obama’s plan will only be ~$290. That’s pretty negligible in my view.[/quote]

It looks like the tax plans are pretty much the same until you get above $600,000 in income. Do you seriously think capitalism is going to fall apart because someone making $600,000 a year has to pay an extra 1% of their income in taxes? I think capitalism will be able to withstand such a viscious assault.

AN, you really need to get out and experience the world. There are greater injustices than some rich asshole having to pay an extra 1% in taxes. Some of these injustices even occur right here in America.

[TheBreeze]

[quote=asianautica]Here’s the new break down of the two candidate’s tax proposals:
[img_assist|nid=8073|title=tax_impact|desc=|link=node|align=left|width=220|height=304]

If you make more than $112k, you’ll be benefited from McCain’s tax policy while if you make less than $112k, Obama’s plan will help you more. @ $66k-112k, the increase tax saving under Obama’s plan will only be ~$290. That’s pretty negligible in my view.[/quote]

It looks like the tax plans are pretty much the same until you get above $600,000 in income. Do you seriously think capitalism is going to fall apart because someone making $600,000 a year has to pay an extra 1% of their income in taxes? I think capitalism will be able to withstand such a viscious assault.

AN, you really need to get out and experience the world. There are greater injustices than some rich asshole having to pay an extra 1% in taxes. Some of these injustices even occur right here in America.

[TheBreeze]

[quote=asianautica]Here’s the new break down of the two candidate’s tax proposals:
[img_assist|nid=8073|title=tax_impact|desc=|link=node|align=left|width=220|height=304]

If you make more than $112k, you’ll be benefited from McCain’s tax policy while if you make less than $112k, Obama’s plan will help you more. @ $66k-112k, the increase tax saving under Obama’s plan will only be ~$290. That’s pretty negligible in my view.[/quote]

It looks like the tax plans are pretty much the same until you get above $600,000 in income. Do you seriously think capitalism is going to fall apart because someone making $600,000 a year has to pay an extra 1% of their income in taxes? I think capitalism will be able to withstand such a viscious assault.

AN, you really need to get out and experience the world. There are greater injustices than some rich asshole having to pay an extra 1% in taxes. Some of these injustices even occur right here in America.

[an]

[quote=TheBreeze]That’s easily fixable. All we have to do is tax capital gains at the same rate as income. Problem solved.
[/quote]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. Then the government wouldn’t get a single dime from these guys. Also, you have to remember that capital gains tax is applied when they sell. So, if they don’t sell until the tax situation is more favorable to them, then they wouldn’t be affected by the rising capital gain tax either. There are many ways these ultra rich can reduce their taxes.

I think you should blame the government for making these guys richer. These are very smart guys who know how to invest and take advantage of any situation. The FED and government has been bailing out the average Joe many times, which then cause other bubbles. Due to these bubble and bust, these rich people take advantage of the bubbles and sell quick enough to not experience the bust. So, if you really want to fix the root cause of the problem, you should remove the FED and IRS and bring us back to the gold standard. Increasing taxes on the rich is just putting duck tape in a leaking dam.

[an]

[quote=TheBreeze]That’s easily fixable. All we have to do is tax capital gains at the same rate as income. Problem solved.
[/quote]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. Then the government wouldn’t get a single dime from these guys. Also, you have to remember that capital gains tax is applied when they sell. So, if they don’t sell until the tax situation is more favorable to them, then they wouldn’t be affected by the rising capital gain tax either. There are many ways these ultra rich can reduce their taxes.

I think you should blame the government for making these guys richer. These are very smart guys who know how to invest and take advantage of any situation. The FED and government has been bailing out the average Joe many times, which then cause other bubbles. Due to these bubble and bust, these rich people take advantage of the bubbles and sell quick enough to not experience the bust. So, if you really want to fix the root cause of the problem, you should remove the FED and IRS and bring us back to the gold standard. Increasing taxes on the rich is just putting duck tape in a leaking dam.

[an]

[quote=TheBreeze]That’s easily fixable. All we have to do is tax capital gains at the same rate as income. Problem solved.
[/quote]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. Then the government wouldn’t get a single dime from these guys. Also, you have to remember that capital gains tax is applied when they sell. So, if they don’t sell until the tax situation is more favorable to them, then they wouldn’t be affected by the rising capital gain tax either. There are many ways these ultra rich can reduce their taxes.

I think you should blame the government for making these guys richer. These are very smart guys who know how to invest and take advantage of any situation. The FED and government has been bailing out the average Joe many times, which then cause other bubbles. Due to these bubble and bust, these rich people take advantage of the bubbles and sell quick enough to not experience the bust. So, if you really want to fix the root cause of the problem, you should remove the FED and IRS and bring us back to the gold standard. Increasing taxes on the rich is just putting duck tape in a leaking dam.

[an]

[quote=TheBreeze]That’s easily fixable. All we have to do is tax capital gains at the same rate as income. Problem solved.
[/quote]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. Then the government wouldn’t get a single dime from these guys. Also, you have to remember that capital gains tax is applied when they sell. So, if they don’t sell until the tax situation is more favorable to them, then they wouldn’t be affected by the rising capital gain tax either. There are many ways these ultra rich can reduce their taxes.

I think you should blame the government for making these guys richer. These are very smart guys who know how to invest and take advantage of any situation. The FED and government has been bailing out the average Joe many times, which then cause other bubbles. Due to these bubble and bust, these rich people take advantage of the bubbles and sell quick enough to not experience the bust. So, if you really want to fix the root cause of the problem, you should remove the FED and IRS and bring us back to the gold standard. Increasing taxes on the rich is just putting duck tape in a leaking dam.

[an]

[quote=TheBreeze]That’s easily fixable. All we have to do is tax capital gains at the same rate as income. Problem solved.
[/quote]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. Then the government wouldn’t get a single dime from these guys. Also, you have to remember that capital gains tax is applied when they sell. So, if they don’t sell until the tax situation is more favorable to them, then they wouldn’t be affected by the rising capital gain tax either. There are many ways these ultra rich can reduce their taxes.

I think you should blame the government for making these guys richer. These are very smart guys who know how to invest and take advantage of any situation. The FED and government has been bailing out the average Joe many times, which then cause other bubbles. Due to these bubble and bust, these rich people take advantage of the bubbles and sell quick enough to not experience the bust. So, if you really want to fix the root cause of the problem, you should remove the FED and IRS and bring us back to the gold standard. Increasing taxes on the rich is just putting duck tape in a leaking dam.

[TheBreeze]

[quote=asianautica]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. [/quote]

Then we just change that rule too. Anyone deriving income from the U.S., regardless of citizenship, gets taxed.

I think we can both agree that the rich are scum and will try to do whatever they can to get out of paying taxes. You won’t get an argument from me on that. However, that doesn’t mean the government should just roll over and not try to tax these scumbags.

[TheBreeze]

[quote=asianautica]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. [/quote]

Then we just change that rule too. Anyone deriving income from the U.S., regardless of citizenship, gets taxed.

I think we can both agree that the rich are scum and will try to do whatever they can to get out of paying taxes. You won’t get an argument from me on that. However, that doesn’t mean the government should just roll over and not try to tax these scumbags.

[TheBreeze]

[quote=asianautica]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. [/quote]

Then we just change that rule too. Anyone deriving income from the U.S., regardless of citizenship, gets taxed.

I think we can both agree that the rich are scum and will try to do whatever they can to get out of paying taxes. You won’t get an argument from me on that. However, that doesn’t mean the government should just roll over and not try to tax these scumbags.

[TheBreeze]

[quote=asianautica]
Not so fast. These are multinational companies. They could then have their permanent resident in some other country and get taxed in that country. [/quote]

Then we just change that rule too. Anyone deriving income from the U.S., regardless of citizenship, gets taxed.

I think we can both agree that the rich are scum and will try to do whatever they can to get out of paying taxes. You won’t get an argument from me on that. However, that doesn’t mean the government should just roll over and not try to tax these scumbags.

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