For the love of god or whoever … VOTE!

[eljr]

Not all opinions are of the same weight, like when some "centrists" try to cast all opinions as equivalent like

Opinion is the firewall of the ignorant. They fail to understand that opinion is only acceptable in the absence of fact not in conflict with it.

 

[Trebdp83]

I thought opinions were like a$$holes...

 

[lp85253]

I thought opinions were like a$$holes...

they are ..

 

[lp85253]

Opinion is the firewall of the ignorant. They fail to understand that opinion is only acceptable in the absence of fact not in conflict with it.

that's the "catch -all " battle cry of the uneducated and ill-informed.."i have just as much right to an opinion as you do".. well you do, but it doesn't really matter when it's absent of fact...... of course we now have the issue of "dueling facts" .....

 

[Trell]

I thought opinions were like a$$holes...

You mean everyone has one

 

[Trell]

that's the "catch -all " battle cry of the uneducated and ill-informed.."i have just as much right to an opinion as you do".. well you do, but it doesn't really matter when it's absent of fact...... of course we now have the issue of "dueling facts" .....

I thought that far right conservatives where stridently opposed to post-modernism, yet they embrace it with abondenement (hmh, auto spell suggest dementation as the "right" word)

 

[Irvrobinson]

Congress and Presidents caused this through legislation that granted free passage to super wealth without paying their share and causing the class jealousy that is everywhere...

What do you mean by "free passage to super wealth without paying their fair share"? What is their fair share?

Let's take the example of Jeff Bezos. He's worth in the range of $200B, so he's an easy target. He also lives in Washington State, so he doesn't pay state income tax. He's sold $9B (so far this year) of Amazon stock, and the sales are listed as "direct" on the insider trading sites, so he holds the shares in his name. I can't find the cost basis for any of these shares, and I suspect it's very low, like less than 5% of the cost, but I don't really know. Just for grins, let's assume the cost basis is $500 per share, and the average sales price $3000/share (which isn't far off) and it makes the math easy. $9B divided by $3000 is 3,000,000 shares (the actual number is higher I think) times $2500 in long-term capital gains. So in this little thought experiment, which is probably low, his taxable capital gain is $7.5B. I'm not a tax expert, but I don't understand how as an individual he gets out of a total federal long-term capital gains tax of 23.8%. That's the 20% taxable gains rate, plus the ACA surtax of 3.8%. 23.8% of $7.5B is $1.875 billion. If the cost basis of the shares is lower and the share count higher, which I believe both are probably true, his capital gains taxes on these sales could easily be over $2B.

And that's just his taxes on these stock sales. I'd be surprised if he didn't have many billions of non-Amazon assets generating income, which he also paid taxes on.

So my question is, highfigh, what do you believe JB's fair share is? I'm just curious.

 

[Trell]

What do you mean by "free passage to super wealth without paying their fair share"? What is their fair share?

Let's take the example of Jeff Bezos. He's worth in the range of $200B, so he's an easy target. He also lives in Washington State, so he doesn't pay state income tax. He's sold $9B (so far this year) of Amazon stock, and the sales are listed as "direct" on the insider trading sites, so he holds the shares in his name. I can't find the cost basis for any of these shares, and I suspect it's very low, like less than 5% of the cost, but I don't really know. Just for grins, let's assume the cost basis is $500 per share, and the average sales price $3000/share (which isn't far off) and it makes the math easy. $9B divided by $3000 is 3,000,000 shares (the actual number is higher I think) times $2500 in long-term capital gains. So in this little thought experiment, which is probably low, his taxable capital gain is $7.5B. I'm not a tax expert, but I don't understand how as an individual he gets out of a total federal long-term capital gains tax of 23.8%. That's the 20% taxable gains rate, plus the ACA surtax of 3.8%. 23.8% of $7.5B is $1.875 billion. If the cost basis of the shares is lower and the share count higher, which I believe both are probably true, his capital gains taxes on these sales could easily be over $2B.

And that's just his taxes on these stock sales. I'd be surprised if he didn't have many billions of non-Amazon assets generating income, which he also pad taxes on.

So my question is, highfigh, what do you believe JB's fair share is? I'm just curious.

Warren Buffet once wrote he paid less taxes (as a percentage of income) than his secretary, but what does he know

He gave that as an example that he paid too little tax.

 

[trochetier]

Trump is already talking 2024 internally according to sources. Possibly announce soon after 1/20/21. Start fund raising, rallies with $5 tickets, high $$ speeches etc.

2024 slogan - M(ake) A(merica) G(arbage) Again, Again.

 

[Irvrobinson]

Warren Buffet once wrote he paid less taxes (as a percentage of income) than his secretary, but what does he know

He gave that as an example that he paid too little tax.

No one knows what WB's secretary makes, but Buffett seldom sells anything, and he gets huge write-offs by contributions to private foundations, especially the Gates Foundation. As I previously stated, I'm not a tax expert, but I thought contributions to private foundations can offset up to 30% of your taxable income, and that's in addition to other charitable contributions. Also, WB pays himself a below-market salary of $100K/per year, which means he pays below the legal maximum on even FICA withholding, etc. In addition, Berkshire Hathaway doesn't pay a dividend, so WB's total taxable income is pretty low. Moreover, as far as I can tell WB doesn't sell any BRK stock, so the unrealized gains are never taxed. So WB really jumps though what seems like every legal hoop to achieve tax avoidance. Talk about a wolf in sheep's clothing who meows like a kitten about his low tax rate. He doesn't get a lot of credibility as a progressive with me.

 

[Trell]

No one knows what WB's secretary makes,

So you claim that Warren Buffet lied?

 

[trochetier]

No one knows what WB's secretary makes, but Buffett seldom sells anything, and he gets huge write-offs by contributions to private foundations, especially the Gates Foundation. As I previously stated, I'm not a tax expert, but I thought contributions to private foundations can offset up to 30% of your taxable income, and that's in addition to other charitable contributions. Also, WB pays himself a below-market salary of $100K/per year, which means he pays below the legal maximum on even FICA withholding, etc. In addition, Berkshire Hathaway doesn't pay a dividend, so WB's total taxable income is pretty low. Moreover, as far as I can tell WB doesn't sell any BRK stock, so the unrealized gains are never taxed. So WB really jumps though what seems like every legal hoop to achieve tax avoidance. Talk about a wolf in sheep's clothing who meows like a kitten about his low tax rate. He doesn't get a lot of credibility as a progressive with me.

At least WB donates to real charities. He has also pledged to give away 90% (I think) of his wealth. Tax avoidance is legal tax evasion is NOT. All three very unlike Trump.

 

[Irvrobinson]

So you claim that Warren Buffet lied?

Don’t be stupid. I just stated that we don’t know pertinent facts.

 

[Irvrobinson]

At least WB donates to real charities. He has also pledged to give away 90% (I think) of his wealth. Tax avoidance is legal tax evasion is NOT. All three very unlike Trump.

I wasn’t comparing him or Bezos to Trump. Also, he’s giving away his wealth to a foundation that spent about $500M on a headquarters building. I think foundations like the Gates Foundation should be abolished, or the donations fully taxable under the estate tax.

 

[lp85253]

What do you mean by "free passage to super wealth without paying their fair share"? What is their fair share?

Let's take the example of Jeff Bezos. He's worth in the range of $200B, so he's an easy target. He also lives in Washington State, so he doesn't pay state income tax. He's sold $9B (so far this year) of Amazon stock, and the sales are listed as "direct" on the insider trading sites, so he holds the shares in his name. I can't find the cost basis for any of these shares, and I suspect it's very low, like less than 5% of the cost, but I don't really know. Just for grins, let's assume the cost basis is $500 per share, and the average sales price $3000/share (which isn't far off) and it makes the math easy. $9B divided by $3000 is 3,000,000 shares (the actual number is higher I think) times $2500 in long-term capital gains. So in this little thought experiment, which is probably low, his taxable capital gain is $7.5B. I'm not a tax expert, but I don't understand how as an individual he gets out of a total federal long-term capital gains tax of 23.8%. That's the 20% taxable gains rate, plus the ACA surtax of 3.8%. 23.8% of $7.5B is $1.875 billion. If the cost basis of the shares is lower and the share count higher, which I believe both are probably true, his capital gains taxes on these sales could easily be over $2B.

And that's just his taxes on these stock sales. I'd be surprised if he didn't have many billions of non-Amazon assets generating income, which he also paid taxes on.

So my question is, highfigh, what do you believe JB's fair share is? I'm just curious.

I'll answer that : more than you do.. As far as a guy having to pay 2 billion on taxes for anything .. Boofuckin hoo for him.. I guess we oughta have a pity party for the " victim"...wtf

 

[Trell]

Don’t be stupid. I just stated that we don’t know pertinent facts.

As I wrote that was a statement made by Warren Buffet himself, and all you can muster is invectives in good old Trump style, free of facts but very wordy. But what to expect of a Trump supporter.

 

[Irvrobinson]

As I wrote that was a statement made by Warren Buffet himself, and all you can muster is invectives in good old Trump style, free of facts but very wordy. But what to expect of a Trump supporter.

I see you didn't take my advice in my last response to you.

 

[Trell]

I'll answer that : more than you do.. As far as a guy having to pay 2 billion on taxes for anything .. Boofuckin hoo for him.. I guess we oughta have a pity party for the " victim"...wtf

Irv has written earlier that he has personally met so "many" (how many?) of them, and is thoroughly smitten by them. What a fool.

 

[Irvrobinson]

Irv has written earlier that he has personally met so "many" (how many?) of them, and is thoroughly smitten by them. What a fool.

Still baiting me? Again, don't be stupid.

 

[Trebdp83]

I am a tax expert, believe or not. They didn't pass that new tax law because it DIDN'T favor the the very rich who have lots of "passive" income. If you are just a workin' stiff getting a W-2 for your efforts, you are gonna' find that you are paying out more in taxes than you would if your government wasn't handing out money to the poor so that they could go buy things from the very rich. Then, when the rich and poor alike get out of any tax liabilty, the workin' stiff finds even more money coming out of his checks and can't afford that OLED TV he's been eyeing and starts sniffin' around the f#%kin' Westinghouse LCDs. But, at least he got a subsidy for his health insurance. Of course, he underestimated his income and has to pay some back through his tax return. Who the f#%k started the tax topic!? Ask me no questions, or my head will pop. I'll say this though. Americans from the poorest to the richest can blow money. What does it matter if you pull in a million dollars a year if you are spending two f#%kin' million and don't file a f#%kin' tax return and get into it with the federal and state tax agencies? Even our f#%kin' homeless are hoarders and they are broke as f#%k! If you not happy about any of it, write your f#%kin' representative and lay off of Irv! He can read me the tax code anytime.