The "Panama Papers"

[i'va biggen]

http://www.triplepundit.com/2016/04/...-economic-war/

[DSK]

Originally Posted by southtown4488

funny how conservatives love to increase defense spending but have no problem with millionaires hiding money offshore. . . eventually the lack of revenue is coming out of defense.

I'm fine with a dramatic decrease in defense spending, and I'm a conservative.
We need to quit paying for the defense of all the other free loading countries out there, and spend it on shitholes like Detroit, Flint, and other Democrat disasters.

[CuteOldGuy]

The problem is the tax system. It's so large and convoluted that the rich can find, and pay for, loopholes which allow this. We need a tax system that rewards domestic saving and investment, so that money can be put to use creating jobs and infrastructure here. But as long as the corporations, banksters and mega-wealthy own the government, bitch all you want. It's not going to change. Hillary won't change it. Neither will Trump or Cruz. They're owned by the corporations. You can bitch all you want, but unless you're willing to take the drastic steps to affect genuine change, you're just flapping in the wind.

[Guest123018-4]

There are no loopholes, there is only the tax code.
The people that use the tax code to save on the amount of taxes they pay did not write the tax code, it was done by our government.

We have the most powerful lobby in the nation and it is called the vote.
Failure to participate in the process of bringing candidates forward that will work to institute the changes needed are the fault of the people.

We get to vote to replace our representative once every two years. Our Senators should be selected by our state government and not by the people as they are representatives of the state government and not the individuals. Repeal the 17th amendment, it was not intended to be this way and we can see the results of that mistake today.

Restorer the Constitution.

[lustylad]

Originally Posted by CuteOldGuy

The problem is the tax system. It's so large and convoluted that the rich can find, and pay for, loopholes which allow this. We need a tax system that rewards domestic saving and investment, so that money can be put to use creating jobs and infrastructure here. But as long as the corporations, banksters and mega-wealthy own the government, bitch all you want. It's not going to change....

More bumper sticker bullshit. If you had a clue, you would understand that making economic choices is about TRADE-OFFS. The biggest so-called "loophole" in the tax system is the fact that capital gains are taxed at a lower rate than ordinary income. Close that so-called "loophole" (by jacking up taxes on capital gains) and you will be PUNISHING domestic saving and investment and choking off the very jobs and infrastructure you say we need.

But hey, why point out the need to make difficult real-world choices when you can just demonize the corporations, banksters and mega-rich? Right, Bernie?

[I B Hankering]

Panama Papers Reveal Hildabeast’s Kremlin Connection

“Almost lost among the many revelations is the fact that Russia’s biggest bank uses The Podesta Group as its lobbyist in Washington, D.C. Though hardly a household name, this firm is well known inside the Beltway, not least because its CEO is Tony Podesta, one of the best-connected Dim machers in the country. He founded the firm in 1998 with his brother John, formerly chief of staff to Slick Willie the Perjuring Sexual Predator, then counselor to Odumbo, Mr. Podesta is the very definition of a Dim insider. Outsiders engage the Podestas and their well-connected lobbying firm to improve their image and get access to Dim-retard bigwigs… Tony Podesta is a big-money bundler for the Hildabeast's presidential campaign while his brother John is the chairman of that campaign, the chief architect of her plans to take the White House this November....

"John and Tony Podesta aren’t fooling anyone with this ruse. They are lobbyists for Vladimir Putin’s personal bank of choice, an arm of his Kremlin and its intelligence services. Since the brothers Podesta are presumably destined for very high-level White House jobs next January if the Dims triumph in November at the polls, their relationship with Sberbank is something they—and Hildabeast—need to explain to the public.”

(Observer)

.

[The_Waco_Kid]

Originally Posted by southtown4488

poor attempt at deflecting the real issue. . .and that's people hiding money to cheat on taxes.
Dems have supported legislation to fight off shore tax evasion, Repubs haven't supported these efforts.

just wait till HildeBitch shows up in the data. then what ya gonna say? bitch

opps! looks like she already is!

[CuteOldGuy]

Originally Posted by lustylad

More bumper sticker bullshit. If you had a clue, you would understand that making economic choices is about TRADE-OFFS. The biggest so-called "loophole" in the tax system is the fact that capital gains are taxed at a lower rate than ordinary income. Close that so-called "loophole" (by jacking up taxes on capital gains) and you will be PUNISHING domestic saving and investment and choking off the very jobs and infrastructure you say we need.

But hey, why point out the need to make difficult real-world choices when you can just demonize the corporations, banksters and mega-rich? Right, Bernie?

Whenever you don't understand something, you call it "bumper sticker". If you think cap gains are a loophole, do you propose taxing them at ordinary income rates? Or are just going to attack me without offering any alternatives, like usual?

[i'va biggen]

Originally Posted by CuteOldGuy

Whenever you don't understand something, Or are just going to attack me without offering any alternatives, like usual?

He must have taken a page from your book, dull knife the Trumpazoid.

[lustylad]

Originally Posted by CuteOldGuy

Whenever you don't understand something, you call it "bumper sticker". If you think cap gains are a loophole, do you propose taxing them at ordinary income rates? Or are just going to attack me without offering any alternatives, like usual?

Of course I don't think lower tax rates for capital gains are a "loophole" - that's why I used quotation marks and added the words so-called. Taxing such gains at ordinary income rates would be hugely destructive for private saving and investment. There is nothing I don't understand about this.

You're the one bitching about loopholes (no quotation marks) manipulated by and for the rich, not me. If you don't want me to refer to your whining as "bumper sticker bullshit" then be specific. Which loopholes are you talking about? And how would closing them "reward domestic saving and investment, so that money can be put to use creating jobs and infrastructure here"? I'm all ears.

[CuteOldGuy]

Fortunately, I no longer have to read the tax code daily anymore. It is mountainous and incomprehensible. There was a regulation long ago that exempted money paid for a certain luxury box at a certain football stadium from taxation. That is one of thousands tiny little loopholes written into the code and regulations that only those who know where to look can find them. That practice is still going on. It's like CJOHNNY, they show up, and when they're discovered, they're repealed but show up again in a new place under a new name. That's just one out of a thousand examples. One I have personal knowledge of, because I structured it, was an old farmer who wanted to sell a parcel of land that had been passed down by will for more than 100 years. Since we had to use the original basis in his property, his cap gains exposure was enormous. I arranged through the structuring of various trusts, for him to make a lot more money by giving the land away, rather than simply selling it. It was a brilliant plan, if I do say so myself. What kind of country structures it's tax code that way? The current tax code can make you do ridiculous things to avoid - not evade - taxes.

We need a simple, understandable tax code that does not tax a person's livelihood or ownership of property. All I hear is "tweak this" or "raise that". Nothing that ever even tries to solve the inherent corruption and unfairness of the income tax. I have worked in taxation most of my life, in very complex situations. I know firsthand how flawed and unfixable the code is. I know how unfairly it is enforced, and how ignorant and just plain evil many of its enforcers are. I've had auditors working on an audit I was defending walk off the job when I showed them what their superiors wanted them to do. They quit the IRS, rather than continue with the unjust enforcement of incomprehensible laws. Others dug in deeper, and ended up in Tax Court, where I usually won. Tax Court attorneys are DOJ, and smarter than the IRS lackeys.

We need a brand new system. I know you don't like the one I favor, but I haven't heard anyone come up with anything better. I'm open to anything, however. Mine is not the only way. If you have a better idea, I'll listen. But don't tell me tax reform. The system is long past reforming. It must be scrapped.

[lustylad]

Originally Posted by CuteOldGuy

I have worked in taxation most of my life, in very complex situations. I know firsthand how flawed and unfixable the code is. I know how unfairly it is enforced, and how ignorant and just plain evil many of its enforcers are. I've had auditors working on an audit I was defending walk off the job when I showed them what their superiors wanted them to do. They quit the IRS, rather than continue with the unjust enforcement of incomprehensible laws. Others dug in deeper, and ended up in Tax Court, where I usually won. Tax Court attorneys are DOJ, and smarter than the IRS lackeys.

I had no idea you have such an impressive background in tax law, COG. So would it be fair to say you've handled hundreds of incidents where you strove to mitigate the incidence of taxes on your clients? It sounds like you were quite successful in defending the corporations and the mega-wealthy against the predations of the IRS!

[i'va biggen]

https://www.yahoo.com/news/putin-adm...132732180.html

[CuteOldGuy]

Originally Posted by lustylad

I had no idea you have such an impressive background in tax law, COG. So would it be fair to say you've handled hundreds of incidents where you strove to mitigate the incidence of taxes on your clients? It sounds like you were quite successful in defending the corporations and the mega-wealthy against the predations of the IRS!

Like most law, the Establishment favors the wealthy. No big corporations or mega-wealthy, but I did have millionaires as clients. I tried to help poor people, usually pro bono, but with much less success. It was infuriating, and was the primary reason I retired. I could tell you stories of IRS abuse that would curl you hair. The IRS is the most evil institution in government.

That's why I support the FairTax. It abolishes the IRS and the income tax. I'm not going to debate its merits, but I am interested in other alternatives. If there is a better plan, I'll listen. But I've worked too closely with the current tax code to listen to any "reform" nonsense. It can't be reformed. The only way to deal with this cancer on our society is to remove it. I won't be broken-hearted if the FairTax isn't adopted, as long as the IRS is gone.


And yes, my credentials are impressive, but I'd trade them all to have spent the last 35 years as a machinist, or a music teacher. Now that sounds bitter, but I'm not. I'm very happy now spoiling my grandchildren, and doing what I want. 60 is the new 40!

[southtown4488]

Originally Posted by lustylad

Conflating tax avoidance with tax evasion??? GIGANTIC FAIL!

Hey suckclown, if you want to pay more taxes than the law requires of you, go right ahead. Nobody will stop you. Something tells me you're in the bottom 50% of all filers and pay zero federal income tax. How big is your EIC check this year?

something tells me ur an internet tough guy and in real life ur a shivering cunt.