Bad Time To Be Rich

[CuteOldGuy]

Apparently the rich are losing income at a much greater rate than the rest of us, and, in fact, paying higher taxes.

Still, it's hard to feel sorry for them.

http://www.cnbc.com/id/48257611

[waverunner234]

Originally Posted by CuteOldGuy

Apparently the rich are losing income at a much greater rate than the rest of us, and, in fact, paying higher taxes.

Still, it's hard to feel sorry for them.

http://www.cnbc.com/id/48257611

You really believe this?
(check out my latest review)

[i'va biggen]

you can spin anything figures during the recession the rich had gained more wealth,as the rest fell.The very rich have overseas accounts,and capitol gains which lowers their tax.Maybe if they are loosing now is the huge amount of donations to the elections and super pacs they are donating to.Of course I am sure that is a write off.

[joe bloe]

Originally Posted by ekim008

you can spin anything figures during the recession the rich had gained more wealth,as the rest fell.The very rich have overseas accounts,and capitol gains which lowers their tax.Maybe if they are loosing now is the huge amount of donations to the elections and super pacs they are donating to.Of course I am sure that is a write off.

Campaign contributions, of any kind, are not tax deductible.

[I B Hankering]

Originally Posted by ekim008

you can spin anything figures during the recession the rich had gained more wealth,as the rest fell.The very rich have overseas accounts,and capitol gains which lowers their tax.Maybe if they are loosing now is the huge amount of donations to the elections and super pacs they are donating to.Of course I am sure that is a write off.

"Hiding" money from taxation in off-shore accounts is illegal. "Investing" money in off-shore accounts to earn a higher rate of return is just good business sense.

[i'va biggen]

Originally Posted by I B Hankering

"Hiding" money from taxation in off-shore accounts is illegal. "Investing" money in off-shore accounts to earn a higher rate of return is just good business sense.

think it was about lower taxes....

[joe bloe]

Originally Posted by I B Hankering

"Hiding" money from taxation in off-shore accounts is illegal. "Investing" money in off-shore accounts to earn a higher rate of return is just good business sense.

The Dimos had better be careful, criticizing Romney's overseas investments. Essentially, all the Dimo leaders have similar investments. The hypocrisy is nauseating.

I think a lot of people have heard of criminals putting their money in foreign banks to hide it from the IRS. People automatically think that putting money in a Cayman Island bank is illegal or unethical; it isn't.

This is just the Dimos doing business as usual, taking advantage of their constituent's ignorance.

[I B Hankering]

Originally Posted by ekim008

think it was about lower taxes....

"lower taxes" = "higher rate of return"

[Fast Gunn]

In the halcyon days of my youth, I thought that paying taxes was a very patriotic thing to do.

With the judgment born of maturity, I have learned that paying a dime more in taxes than I can avoid is foolish.

The fact is that I cannot control who is voted into office and when we get a clown like Bush in the White House, he will just squander all of my hard-earned money on idiotic things like tax cuts for millionaires and invasions of countries that drain our blood and treasury.

. . . Sorry, Uncle Sam, but I know how to invest, save and spend my money much better than you ever will and I plan on keeping it!

[I B Hankering]

Originally Posted by joe bloe

The Dimos had better be careful, criticizing Romney's overseas investments. Essentially, all the Dimo leaders have similar investments. The hypocrisy is nauseating.

I think a lot of people have heard of criminals putting their money in foreign banks to hide it from the IRS. People automatically think that putting money in a Cayman Island bank is illegal or unethical; it isn't.

This is just the Dimos doing business as usual, taking advantage of their constituent's ignorance.

Anderson Cooper, Ali Velshi and others were "discussing" this issue the other night. They did their utmost by innuendo and aspersion to tar Romney's investments as "illicit". Not one of those assholes proffered that Romney MIGHT have those accounts because he was -- business wise -- scoring the highest rate of return he could find. And those pathetic assholes call themselves "journalists"!?!

[I B Hankering]

Originally Posted by Fast Gunn

In the halcyon days of my youth, I thought that paying taxes was a very patriotic thing to do.

With the judgment born of maturity, I have learned that paying a dime more in taxes than I can avoid is foolish.

The fact is that I cannot control who is voted into office and when we get a clown like Odumbo in the White House, he will just squander all of my hard-earned money on idiotic things like invasions of countries that drain our blood and treasury.

. . . Sorry, Odumbo, but I know how to invest, save and spend my money much better than you ever will and I plan on keeping it!

Fixed that for ya!

[Fast Gunn]

Hey, don't do me any favors!

If stupid was against the law,

. . . You'd be in the slammer doing life without parole!

Originally Posted by I B Hankering

Fixed that for ya!

[CuteOldGuy]

Originally Posted by Fast Gunn

Hey, don't do me any favors!

If stupid was against the law,

. . . You'd be in the slammer doing life without parole!

You gotta love it!!

[nwarounder]

They aren't losing it, they are converting it to cash and suitcasing it onto their yachts, where it sails off into the wild blue yonder.

[i'va biggen]

Originally Posted by I B Hankering

"lower taxes" = "higher rate of return"

\

You still aint getting it If your money isn't here= lower taxes you pay.Otherwise there would be no incentive to put it there.