This is no matter for government to put their nose into. This is solely a matter for the board and stockholders. Period.
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Obama to announce increase in taxes for businesses and wealthy
- Thread starter MrDODGE
- Start date
This is no matter for government to put their nose into. This is solely a matter for the board and stockholders. Period.
Quote from patchie:
So a guy making $1 Billion in profits last year and who spends a small fraction of it in goods and services will help this economy how? Looks to me like a way to grow the upper end very nicely.
Know very many people making a billion per year? I don't. Median household income in 2007: $50,233.
One can distort the facts on any topic. Keep it real, Patchie.
Quote from patchie:
As I see it, today's CEO's took huge risks to generate huge personal wealth and our nation is suffering because of it. if these same CEO's want aid of the federal government by way of tax breaks to regain strength in their company such tax breaks should come with caveats that the tax breaks are not used to simply pay off their overpriced compensation packages. As a tax payer do you want to bail out some CEO who screwed up or would you rather have that money going into employing more people so that the economy will turn around?
This is a completly different situation. No money should be given. Period.
Capitalism and Darwinism go hand in hand.
Edit: Should go hand in hand
Quote from AlpineTrout:
This is no matter for government to put their nose into. This is solely a matter for the board and stockholders. Period.
If you believe that then stop whining about the taxes you pay.
The only reason we pay the taxes we do is because as a nation we are bailing out the many unemployed created by top executive greed. We bail out the the cities and towns who lose income, the small businesses who lose sales revenues, and the people themselves who we must fund by way of unemployment. We do so because a group of underachievers at the highest levels of our largest corporations continued to act irresponsibly and they let their ego's and their greed destroy so many.
The minute these CEO's come looking for handouts from the government (tax breaks; low interest loans, etc...) they lose the right to decide on their own how such money is spent. The banks today are not being run under capitalism as they are asking the government to protect them from their own misbehaviors.
Quote from BSAM:
Know very many people making a billion per year? I don't. Median household income in 2007: $50,233.
One can distort the facts on any topic. Keep it real, Patchie.
BSAM, There were several last year with incomes over $1 Billion and the income was trade based.
As for the average household making $50,233 I guess my $50K example was correct. Do you think the trader making $5 Million on Wall Street will spend as much as 100 people making $50 Million thus generating the same level of tax into the economy? How about the guys like Blankfein who made $67 Million 2 years ago and deferred much of it because he couldn't spend it fast enough. How will that help fund our nations debt?
Quote from AlpineTrout:
Entirely false. Capitalism (with low taxes) is by far the BEST economic system EVER created in the history of mankind. It has created better lives for more people, than any other system. It is not perfect, but is still the best.
True. And the more Socialistic America becomes (we have been socialistic to a degree for decades), the worse off America will be... especially future generations.
The Gummint should let capitalism be capitalism... with perhaps one exception. If the banks are "too important to fail", then they should (1) be prevented from doing stupid shit, and (2) be allowed to do only certain kinds of conservative, properly underwritten and collateralized loans... supervised by regulators.
Quote from patchie:
BSAM, There were several last year with incomes over $1 Billion and the income was trade based.
As for the average household making $50,233 I guess my $50K example was correct. Do you think the trader making $5 Million on Wall Street will spend as much as 100 people making $50 Million thus generating the same level of tax into the economy? How about the guys like Blankfein who made $67 Million 2 years ago and deferred much of it because he couldn't spend it fast enough. How will that help fund our nations debt?
www.fairtax.org Check it out.
Quote from AlpineTrout:
This is no matter for government to put their nose into. This is solely a matter for the board and stockholders. Period.
as long as the board is the rubber stamp for management shareholders have no voice in the co's direction. their only recourse is to sell their shares and move on.
we actually need legislation to strengthen shareholders' rights.
BSAM I checked out the site, even showed you areas where your Congressional supporters list was in error. But your site dows not address such flaws as purchases made overseas. it likewise does not fully address what impact this tax will have on foreign tourists spending in the US.
If there is a 25% tax on everything we buy, how will these prices compete with other nations? Will it drive down foreign purchases? Similarly, what is to stop large purchases from being made overseas? A $20,000 diamond purchased in the US with a 25% tax will be bought overseas for $20,000. For those with the wealth to make such travels do you not see this as a loophole?
If there is a 25% tax on everything we buy, how will these prices compete with other nations? Will it drive down foreign purchases? Similarly, what is to stop large purchases from being made overseas? A $20,000 diamond purchased in the US with a 25% tax will be bought overseas for $20,000. For those with the wealth to make such travels do you not see this as a loophole?
Quote from patchie:
BSAM I checked out the site, even showed you areas where your Congressional supporters list was in error. But your site dows not address such flaws as purchases made overseas. it likewise does not fully address what impact this tax will have on foreign tourists spending in the US.
If there is a 25% tax on everything we buy, how will these prices compete with other nations? Will it drive down foreign purchases? Similarly, what is to stop large purchases from being made overseas? A $20,000 diamond purchased in the US with a 25% tax will be bought overseas for $20,000. For those with the wealth to make such travels do you not see this as a loophole?
(Rolls eyes.) Okay, Patchie. Support your good government. You are obviously more intelligent than the folks who made the FairTax plan. Good luck.