have you ever noticed this about rich people and politicians

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

If Snoop said what Buffet said what do you think polticians would be saying to get votes?

SEANMCAD

Isn't the term "rich" includes these people too? I'm confused.GazaAli

I'm thinking his rant wasn't that well thought out.

[QUOTE="GazaAli"]Isn't the term "rich" includes these people too? I'm confused.heretrix

I'm thinking his rant wasn't that well thought out.

Are any of his threads well thought out?

Most of them are some inside joke no one gets until 30 posts in when he says "I made this thread because of some funny reason that only I seem to think is funny, aren't I cool!?"

I'm sure you're getting at something here, but I'm too dim to latch on. Could you post some cryptic comic book clues to give us a hint, maybe?

Just like how there are a small minority of poor people who take advantage of government assistance, there is also a small minority of rich that take advantage of corporate welfare, abuse tax loop holes and funnel money out of the U.S. economy through off-shore investments.

These people don't produce a service.

Their merit is in investments. They money that they keep goes to banks, which are then lended to small businesses and services. "trickle down" if you will. But if the banks aren't lending, and they're storing their money in foreign accounts, they become a detriment to our economy continuing to take advantage of pubic services while funneling more money out of the economy.

In the same sense, it's just like how when [republican] politicians complain about the poor, it's never your average American household trying to make ends meet, but instead degenerate from the ghetto.

They are actually refering to the minority for but for some reason get generalized to the entire class. So all people are lazy and all rich people are slimeballs.

Just like how there are a small minority of poor people who take advantage of government assistance, there is also a small minority of rich that take advantage of corporate welfare, abuse tax loop holes and funnel money out of the U.S. economy through off-shore investments.

These people don't produce a service.

Their merit is in investments. They money that they keep goes to banks, which are then lended to small businesses and services. "trickle down" if you will. But if the banks aren't lending, and they're storing their money in foreign accounts, they become a detriment to our economy continuing to take advantage of pubic services while funneling more money out of the economy.

Blue-Sky

Must be why so many actors, musicians and sports figures get in trouble over tax evasion.

[QUOTE="heretrix"]

[QUOTE="GazaAli"]Isn't the term "rich" includes these people too? I'm confused.C2N2

I'm thinking his rant wasn't that well thought out.

Are any of his threads well thought out?

Most of them are some inside joke no one gets until 30 posts in when he says "I made this thread because of some funny reason that only I seem to think is funny, aren't I cool!?"

[QUOTE="Blue-Sky"]

Just like how there are a small minority of poor people who take advantage of government assistance, there is also a small minority of rich that take advantage of corporate welfare, abuse tax loop holes and funnel money out of the U.S. economy through off-shore investments.

These people don't produce a service.

Their merit is in investments. They money that they keep goes to banks, which are then lended to small businesses and services. "trickle down" if you will. But if the banks aren't lending, and they're storing their money in foreign accounts, they become a detriment to our economy continuing to take advantage of pubic services while funneling more money out of the economy.

whipassmt

"lended too much money to people who couldn't afford to pay it back" - This is grossly overstated.

The 2008 meltdown happened specifically because Banks intentionally took on faulty loans for credit default swaps - a bad business practice completely unregulated by Congress. This is what nearly bankrupted Bank of America, JPmorgan and Goldman Sachhs. Causing a domino effect of unemployment.

Don't they already pay 35%? That's higher, and more then the poor and middle class.

[QUOTE="whipassmt"]

[QUOTE="Blue-Sky"]

Just like how there are a small minority of poor people who take advantage of government assistance, there is also a small minority of rich that take advantage of corporate welfare, abuse tax loop holes and funnel money out of the U.S. economy through off-shore investments.

These people don't produce a service.

Their merit is in investments. They money that they keep goes to banks, which are then lended to small businesses and services. "trickle down" if you will. But if the banks aren't lending, and they're storing their money in foreign accounts, they become a detriment to our economy continuing to take advantage of pubic services while funneling more money out of the economy.

Blue-Sky

"lended too much money to people who couldn't afford to pay it back" - This is grossly overstated.

The 2008 meltdown happened specifically because Banks intentionally took on faulty loans for credit default swaps - a bad business practice completely unregulated by Congress. This is what nearly bankrupted Bank of America, JPmorgan and Goldman Sachhs. Causing a domino effect of unemployment.

Isn't the term "rich" includes these people too? I'm confused.GazaAli

Don't they already pay 35%? That's higher, and more then the poor and middle class.

Fightingfan

Still the federal government may look a bit greedy when it demands rates of 35% or so, especially when considering churces usually only ask for 10%.

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

whipassmt

they do pay.

earnings on salary, royalties, and merchandising is not capitol gains so is taxed up in the 30% to 40% range just like our earnings are.

[QUOTE="GazaAli"]Isn't the term "rich" includes these people too? I'm confused.whipassmt

[QUOTE="GazaAli"]Isn't the term "rich" includes these people too? I'm confused.whipassmt

I just told you!

Every example you gave are people who typically earn high wages and pay a tax percentage comparable to middle class workers or higher.

Bankers and CEO's typically recieve compensation in other forms that have much, much lower effective tax rates.

What else is there to keep pushing this question for?

[QUOTE="whipassmt"]

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

Riverwolf007

they do pay.

earnings on salary, royalties, and merchandising is not capitol gains so is taxed up in the 30% to 40% range just like our earnings are.

[QUOTE="whipassmt"]

[QUOTE="GazaAli"]Isn't the term "rich" includes these people too? I'm confused.XaosII

I just told you!

Every example you gave are people who typically earn high wages and pay a tax percentage comparable to middle class workers or higher.

Bankers and CEO's typically recieve compensation in other forms that have much, much lower effective tax rates.

What else is there to keep pushing this question for?

telling somebody that ceo's and corporate boards and other higher ups are payed in stock options and other methods that fall under corporate gains taxation won't really do any good if someone goes out of their way or busts their asses in some mental gymnastics in order to keep their world view the same no matter what evidence is presented.

[QUOTE="whipassmt"]

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

Riverwolf007

they do pay.

earnings on salary, royalties, and merchandising is not capitol gains so is taxed up in the 30% to 40% range just like our earnings are.

[QUOTE="Riverwolf007"]

[QUOTE="whipassmt"]

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

whipassmt

they do pay.

earnings on salary, royalties, and merchandising is not capitol gains so is taxed up in the 30% to 40% range just like our earnings are.

those ceos are not investing in anything.

they are getting paid in stock in order to skirt tax laws and not pay tax on their income.

if we don't call income income and instead call it a stock option you only have to pay a third or less in tax than you would have paid if it was called a salary.

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

whipassmt

For the most part rich people are the politicians. :o

For the most part rich people are the politicians. :o

lo_Pine

[QUOTE="whipassmt"]

[QUOTE="Riverwolf007"]derp.

they do pay.

earnings on salary, royalties, and merchandising is not capitol gains so is taxed up in the 30% to 40% range just like our earnings are.

Riverwolf007

those ceos are not investing in anything.

they are getting paid in stock in order to skirt tax laws and not pay tax on their income.

if we don't call income income and instead call it a stock option you only have to pay a third or less in tax than you would have paid if it was called a salary.

[QUOTE="whipassmt"]

[QUOTE="Blue-Sky"]

Just like how there are a small minority of poor people who take advantage of government assistance, there is also a small minority of rich that take advantage of corporate welfare, abuse tax loop holes and funnel money out of the U.S. economy through off-shore investments.

These people don't produce a service.

Their merit is in investments. They money that they keep goes to banks, which are then lended to small businesses and services. "trickle down" if you will. But if the banks aren't lending, and they're storing their money in foreign accounts, they become a detriment to our economy continuing to take advantage of pubic services while funneling more money out of the economy.

Blue-Sky

"lended too much money to people who couldn't afford to pay it back" - This is grossly overstated.

The 2008 meltdown happened specifically because Banks intentionally took on faulty loans for credit default swaps - a bad business practice completely unregulated by Congress. This is what nearly bankrupted Bank of America, JPmorgan and Goldman Sachhs. Causing a domino effect of unemployment.

... which in turn led to more people not being able to pay their mortgages.

Must be why so many actors, musicians and sports figures get in trouble over tax evasion.

worlock77

oops oops oops oops f*çk you gsdave123321

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

whipassmt

but snoop dog doesn't make all his money on capital gains which is taxed at a lower rate. unlike wall street and bankers.

[QUOTE="dave123321"]oops oops oops oops f*çk you gswhipassmt

[QUOTE="whipassmt"]

[QUOTE="dave123321"]oops oops oops oops f*çk you gsdave123321

[QUOTE="dave123321"][QUOTE="whipassmt"] Gs doesn't censor the f word if you use a cedilla instead of a "c"?

whipassmt

[QUOTE="Riverwolf007"]

[QUOTE="whipassmt"] So that's what it is, gains made from salary is taxed more than gains made from investments. Isn't the whole point of doing so to encourage investment? I mean doesn't it work out better for the economy if a CEO invests than it does if the NBA player buys himself some bling or the rapper buys some grills for his teeth?

whipassmt

those ceos are not investing in anything.

they are getting paid in stock in order to skirt tax laws and not pay tax on their income.

if we don't call income income and instead call it a stock option you only have to pay a third or less in tax than you would have paid if it was called a salary.

I think what he's saying is that most of their salary is in stock and not paid out normally like how most people receive it. For example the new CEO of Apple has an annual salary of $900k, which is most likely taxed at the normal rate, but the rest of his yearly earnings came in the form of over $300m of Apple stock that the company pays him, which I would presume is taxed differently.

So while he's earning somewhere around 350m a year he's only paying the 35% rate on the 900k, not even all of the 900k really, since the top tax bracket doesn't kick in till almost 400k.

Edit: As for the part about musicians and athletes, I guess it's considered a less than ideal solution, but what are you going to do, no one really wants capital gains taxes changed, like people have said if the percent gets too high it will discourage investing. Realistically though the 35-39.6% tax increase won't really affect their lifestyle very much. It could also be argued that it won't help the federal government much either, and is therefore a useless raise.

You know how some politicians like to complain that the rich people need to pay more taxes, and how they should pay "their fair share" and all that. Have you ever noticed that when politicians complain about rich people it's pretty much always "Wall street needs to pay their fair share" or those rich CEOs and bankers and corporate jet owners need to pay more taxes. Why don't we ever hear politicians saying "Hollywood needs to pay their fair share", or the rappers, and NBA players and NFL players need to pay more taxes?

Why is it always "warren buffet should pay more taxes" and never "Snoop Dogg or Lebron James needs to pay more taxes"?

whipassmt

Rappers and sports stars already pay like twice as much in taxes as people making money through capital gains.

.....because rappers and hollywood actors aren't buying politicians and writing laws designed to benefit them? When Nick Cage went broke taxpayers didn't have to bail his a$$ out. When Wesley Snipes tried to dodge taxes he went to jail. Lil Wayne didn't get a slap on the wrist, he went to jail.

[QUOTE="whipassmt"]

[QUOTE="dave123321"] No. Not that it matters since it is no longer against the rules to use the word uncensored. Just that there is no way to do it. Which seems sillydave123321