41 billionaires are now as rich as the poorest half of the world population

[gkishot]

You are missing the point. A system that provided equal opportunities and equal punishment would not be a system that had nearly as many billionaires as the US has. Look at Elon's gay buddy, Peter Thiel. He was outed to be gay. Someone simply spoke the truth, not a crime. What did Thiel do? He used his wealth to systematically destroy an entire company that employed people, the company run by the guy who outed him. Thiel should have gone to prison for that. Thiel and Musk should have also been held accountable for the abuses and schemes they ran in PayPal. But no, that system and its justice system is designed to only catch the small fry.

Close ALL THE LOOPHOLES for the rich immediately and regulate and punish corporate behavior and wrongdoing. We don't need higher taxes I agree with you, we need to apply the law and punishment for wrongdoing EQUALLY.

There is no law that prohibits you to be another Elon Musk.

 

[gkishot]

You are missing the point. A system that provided equal opportunities and equal punishment would not be a system that had nearly as many billionaires as the US has. Look at Elon's gay buddy, Peter Thiel. He was outed to be gay. Someone simply spoke the truth, not a crime. What did Thiel do? He used his wealth to systematically destroy an entire company that employed people, the company run by the guy who outed him. Thiel should have gone to prison for that. Thiel and Musk should have also been held accountable for the abuses and schemes they ran in PayPal. But no, that system and its justice system is designed to only catch the small fry.

Close ALL THE LOOPHOLES for the rich immediately and regulate and punish corporate behavior and wrongdoing. We don't need higher taxes I agree with you, we need to apply the law and punishment for wrongdoing EQUALLY.

What 'loopholes for the rich' are you talking about?

 

[DiceAreCast]

You are kidding right?

What 'loopholes for the rich' are you talking about?

 

[DiceAreCast]

I would not trade my life for anything to be Elon Musk or have his wealth. Why would I want that?

There is no law that prohibits you to be another Elon Musk.

 

[gkishot]

You are kidding right?

No I don't know how the tax law defines the "rich" and what tax reliefs it spells out specifically for them. Maybe you can help.

 

[newwurldmn]

Who has provided opportunities for the most successful ones among us? I don't mind the govt 'providing opportunities' for the rest using it's own earned money. Individuals should 'provide opportunities' to others through charities not constantly rising taxes. Taxes should serve as a seed capital to the govt. After that it's up to the govt to manage this money smartly.

the government can’t be a for profit entity.
How would the army work if it were a for profit entity?

What about the fire department? Or the police? Or the safety net? Schools?

we can privatize all of it. I think you would be very unhappy with the outcome.

 

[gkishot]

the government can’t be a for profit entity.
How would the army work if it were a for profit entity?

What about the fire department? Or the police? Or the safety net? Schools?

we can privatize all of it. I think you would be very unhappy with the outcome.

Security spending is also an expense for the rich and not that rich. There are other profit making enterprises besides the army or the police. The same goes to fire protection installations. The govt does not help people to become wealthy. Arguably the govt even stands in the way of personal wealth. Why does the govt need help of people to acquire money? Why can't it do on its own but people can?

 

[newwurldmn]

Security spending is also an expense for the rich and not that rich. There are other profit making enterprises besides the army or the police. The govt does not help people to become wealthy. Arguably the govt even stands in the way of personal wealth. Why does the govt need help of people to acquire money? Why can't it do on its own but people can?

goverment investments in infrastructure have created 10s of trillions of wealth.

government court system as well. same with a social safety net. It’s a lot easier to take a risk when you know your kids won’t be sold into indentured servitude if you fail.

even organizations like the FDA have created a lot of wealth. Without the standards and research they provide, companies would have to do this on their own and that cost would be prohibitive.

do you know how much wealth the private sector has created from inventions that came out of NASA?

the problem is that for all the wealth created by public projects, the government doesn’t get ENOUGH of its share. The only flaw is that they aren’t monetizing the revenues enough.

The reality is that most businesses (and consequently their rich equity holders) have benefitted from implicit snd explicit government subsidies. If you haven’t noticed that the wealthiest countries in the world have very strong governments with large budgets. The poorest countries have very weak governments.

you want to drive to work. Perhaps you should pay 2 dollars a mile. But that allows you to have a job without a commute that takes you an hour to travel one mile.

 

[DiceAreCast]

Tax Havens

Shell Companies

Equity Swaps

Avoiding Capital Gains Tax (borrowing from banks with shares as collateral after buying options)

Evading Estate Taxes

Shell Trust Funds

Incorporating

Payments in Kind

Life Insurance Borrowing

Real Estate Borrowing


.... Do I need to list more? I trust you are intelligent enough to search for the definitions if you are not informed on terminology.

No I don't know how the tax law defines the "rich" and what tax reliefs it spells out specifically for them. Maybe you can help.

 

[ElCubano]

They should have hung Angelo Mozilo by his nuts. lol. That Orange bastard.