CousinsCowgirl84 Posted March 13, 2019 Share Posted March 13, 2019 38 minutes ago, mcsluggo said: you honesty cannot tell the difference between: "I think people in this group, like me, should pay more taxes to help solve an important problem..." versus... "..here take my money.... but please DON'T solve the problem that we are currently talking about... only take MY money, nobody else's... because, you know.. i am not interested in solving any problems.. I just want to give away my ****...... " ? No, I agree there is a difference, but put your money where your mouth is... amazon is pushing for a higher minimum wage, but that’s not because amazon cares about its workers, it’s about hurting the competition. Taking a super rich persons comments as a source of thought on how to appropriately tax the super riches money is immediately suspect to me. Especially when they had plenty of opportunity to take action themselves but instead chose to take very limited measures. If bill gates cared about the disparity between the rich and the poor his company could stop hoarding all the cash it has or stop paying dividends and give all of thier works, a pay raise, with most of the raises going to low level employees like janitors or maintenance techs. I’m not recommending that, but if he wanted to really make a difference he should lead by example without getting the government involved. I dont trust what he is advocating for is truly altrustic. Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted March 13, 2019 Share Posted March 13, 2019 47 minutes ago, PleaseBlitz said: I'd really rethink a lot of my life decisions if I got banned by Twitter even once. 35 minutes ago, No Excuses said: Banned from social media and cut off by friends and family. Obviously the problem is everyone else. Nailed it. Remember the “all my work buddies don’t like me anymore” story? Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 13, 2019 Share Posted March 13, 2019 9 minutes ago, CousinsCowgirl84 said: If bill gates cared about the disparity between the rich and the poor his company could stop hoarding all the cash it has or stop paying dividends and give all of thier works, a pay raise, with most of the raises going to low level employees like janitors or maintenance techs. I’m not recommending that, but if he wanted to really make a difference he should lead by example without getting the government involved. https://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation Quote Bill & Melinda Gates Foundation (BMGF), previously branded as the 'William H. Gates Foundation', is a private foundation founded by Bill and Melinda Gates. Based in Seattle, Washington, it was launched in 2000 and is reported to be the largest private foundation in the world,[4] holding $50.7 billion in assets.[5] The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and, in the U.S., to expand educational opportunities and access to information technology. Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted March 13, 2019 Share Posted March 13, 2019 5 minutes ago, TryTheBeal! said: Nailed it. Remember the “all my work buddies don’t like me anymore” story? To be honest though, I think some of his stories are made up, I mean your friends tend to be your friends because you are like minded... I think this would have come up before... Link to comment Share on other sites More sharing options...
NoCalMike Posted March 13, 2019 Share Posted March 13, 2019 Until the wages of workers go up, at a rate that thins the acceleration of income equality, then it feels like the actual issue is not being addressed. This isn't about making everyone rich, this also isn't about making the rich not rich. It is addressing a fundamental question/issue of why is the wealth gap constantly going up. It is because wages are stagnant while money funneled to the top keeps increasing. Part of the reason people continually want taxes on the rich increased is because they are continually taking a bigger percentage of the wealth. It is that simple. You take more of the money, then sorry, you are paying more of the taxes. You should not get it both ways, having your taxes cut yet also still funneling more of the revenue to the top. Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted March 13, 2019 Share Posted March 13, 2019 6 minutes ago, PleaseBlitz said: https://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation Wasnt someone just complaining about how the super rich use foundations they control as tax shelters to gain influence? My last comment on the tax situation in this thread is that democrats would be more attractive as candidates if they focused less on redistributing wealth. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 13, 2019 Share Posted March 13, 2019 6 minutes ago, CousinsCowgirl84 said: Wasnt someone just complaining about how the super rich use foundations they control as tax shelters to gain influence? Just Trump. Are you asserting that Gates' foundation is a tax shelter? Do you have any evidence to support that claim? Or is that response just the best you can come up with when you said "if he wanted to really make a difference he should lead by example without getting the government involved" evidently without realizing that Bill Gates is the biggest philanthropist of all time. Link to comment Share on other sites More sharing options...
Sacks 'n' Stuff Posted March 13, 2019 Share Posted March 13, 2019 59 minutes ago, CousinsCowgirl84 said: Taking a super rich persons comments as a source of thought on how to appropriately tax the super riches money is immediately suspect to me. Everything you say about taxing the wealthy is what the super rich tell you to believe. 52 minutes ago, CousinsCowgirl84 said: My last comment on the tax situation in this thread is that democrats would be more attractive as candidates if they focused less on redistributing wealth. That’s exactly how I feel about the GOP. Link to comment Share on other sites More sharing options...
twa Posted March 13, 2019 Share Posted March 13, 2019 1 hour ago, PleaseBlitz said: Just Trump. Are you asserting that Gates' foundation is a tax shelter? Do you have any evidence to support that claim? Or is that response just the best you can come up with when you said "if he wanted to really make a difference he should lead by example without getting the government involved" evidently without realizing that Bill Gates is the biggest philanthropist of all time. Of course it is a tax shelter Quote https://www.forbes.com/sites/jeffreydorfman/2017/08/13/the-biggest-and-best-tax-break-of-all-time/#7502f9a62b23 Thus, the fact that capital gains are not taxed as long as the asset is held (and, in real estate, not even when sold if the proceeds are reinvested in a “like” asset) and the existence of the charitable donation tax deduction have provided Bill Gates with what might be called the biggest tax break in history. The federal government likely lost out on $15-20 billion. Even for the federal government that is real money, enough to, for example, run the State Department for about a year. And of course it allows THEM to direct funding to things he desires rather than what the govt decides. They most certainly give a lot of money to causes and programs that they would probably not otherwise......they most certainly avoid paying money to the govt as a result. Foundations also provide employment and benefits to friends and family in many cases. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 13, 2019 Share Posted March 13, 2019 10 minutes ago, twa said: Of course it is a tax shelter Quote Thus, the fact that capital gains are not taxed as long as the asset is held (and, in real estate, not even when sold if the proceeds are reinvested in a “like” asset) and the existence of the charitable donation tax deduction have provided Bill Gates with what might be called the biggest tax break in history. Two huge problems with this line of argument. #1, obviously, the fact that an entity has beneficial effects on a person's taxes does not mean that it's primary function is a tax shelter. Even that Forbes article acknowledges this: Quote The Bill and Melinda Gates Foundation is doing a lot of good in the world thanks to Mr. Gates’ ability to retain that wealth rather than pay it out in taxes. The Bill and Melinda Gates Foundation has funded major successes worldwide in the fight against a variety of diseases, is one of the largest funders of research projects in economic development in many poor countries around the world, and still has enough money left to be a major force in education reform research and funding. So sure, these charitable foundations certainly have tax benefits, which can pretty easily be abused by nefarious rich assholes that just want the tax benefits without doing much charity. If you want to make that claim about the specific foundation in question, please go for it. #2, by making that argument that, because "the fact that capital gains are not taxed as long as the asset is held" makes it functionally a tax shelter, they have expanded the definition of a tax shelter to include all assets subject to taxable gains, meaning basically everything with value and the potential to appreciate, which seems like a stupid definition. By this definition, my $100,000 in student debt is a tax shelter, which, you can make that argument, but you look stupid doing it. By this definition, if you win at a casino but don't actually cash in the chips....tax shelter. By this definition, if you sell a house and buy another house....tax shelter. Link to comment Share on other sites More sharing options...
bearrock Posted March 13, 2019 Share Posted March 13, 2019 Giving an asset to charity to avoid paying taxes on the gain on that asset is not a winning strategy unless you have some charitable intentions. When rich people come to attorneys looking for ideas on how to set up tax shelters to maximize tax savings, they typically want a little more benefit than what a charitable foundation could offer. Also, if your attorney advises you that setting up a foundation is a good way to set your friends and family up with a cushy job or funnel benefits, you probably want to look for a new attorney. Much easier to accomplish with a for profit corporation than a foundation. Fairly sure that Bill and Melinda Gates can afford quality legal advice that could have devised an actually functioning tax shelters and benefit vehicles if that were their goals. Link to comment Share on other sites More sharing options...
twa Posted March 13, 2019 Share Posted March 13, 2019 PB, I never said it's primary purpose was a tax shelter but they certainly reduce your taxes while leaving you control Quote https://dailyreckoning.com/bill-gates-favorite-tax-trick/ When the transfer is made, you can record the stock price on the day of transfer. This price (times the number of shares that you donate) allows you to calculate the value of your charitable donation. If the charity is a legitimate 501(c)3 organization, you’ll still be able to write off the value of your donation. This will reduce your own tax bill and leave you with more money for expenses or to give away. At the same time, your charity will be able to sell the shares of your stock and keep the full value of the shares (without paying taxes). So if you have it in your heart to be generous this holiday season, the gift of stock shares will actually allow you to be more generous, while paying less in taxes. Link to comment Share on other sites More sharing options...
88Comrade2000 Posted March 13, 2019 Author Share Posted March 13, 2019 Why a Long Democratic Primary Slugfest Might Help Re-elect Trump Link to comment Share on other sites More sharing options...
visionary Posted March 13, 2019 Share Posted March 13, 2019 Link to comment Share on other sites More sharing options...
Momma There Goes That Man Posted March 13, 2019 Share Posted March 13, 2019 Buttigieg is moving up the ranks for me. He has an excellent interview on Pod Save America a few weeks ago for anyone wanting to give a listen. I think sadly, he's too young to be elected and I don't think this country is ready for a gay president. The backlash will be just like Obama. **** them, i know, but it will hurt his chances. I think his chance is 2028. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 13, 2019 Share Posted March 13, 2019 57 minutes ago, twa said: PB, I never said it's primary purpose was a tax shelter but they certainly reduce your taxes while leaving you control By this definition, my $100,000 in student debt is a tax shelter, which, you can make that argument, but you look stupid doing it. By this definition, if you win at a casino but don't actually cash in the chips....tax shelter. By this definition, if you sell a house and buy another house....tax shelter. Link to comment Share on other sites More sharing options...
twa Posted March 13, 2019 Share Posted March 13, 2019 1 minute ago, PleaseBlitz said: By this definition, my $100,000 in student debt is a tax shelter, which, you can make that argument, but you look stupid doing it. By this definition, if you win at a casino but don't actually cash in the chips....tax shelter. By this definition, if you sell a house and buy another house....tax shelter. Your definition is stupid, whereas me directing tax free capital gains where I want them is not. you may deduct interest paid on student loans, but that is a expense not a gain Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 13, 2019 Share Posted March 13, 2019 Just now, twa said: Your definition is stupid, whereas me directing tax free capital gains where I want them is not. you may deduct interest paid on student loans, but that is a expense not a gain 1 hour ago, twa said: but they certainly reduce your taxes while leaving you control Link to comment Share on other sites More sharing options...
twa Posted March 13, 2019 Share Posted March 13, 2019 Did you deduct your tuition? Link to comment Share on other sites More sharing options...
JCB Posted March 13, 2019 Share Posted March 13, 2019 53 minutes ago, Momma There Goes That Man said: Buttigieg is moving up the ranks for me. He has an excellent interview on Pod Save America a few weeks ago for anyone wanting to give a listen. I think sadly, he's too young to be elected and I don't think this country is ready for a gay president. The backlash will be just like Obama. **** them, i know, but it will hurt his chances. I think his chance is 2028. Love him too. I was so impressed with his thoughtfulness, rigor, and principles when I watched the CNN Town Hall. Genuinely creative thinking, out ahead of future problems. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 13, 2019 Share Posted March 13, 2019 45 minutes ago, twa said: Did you deduct your tuition? I don't feel comfortable sharing my personal financial information with a Trump troll, sorry. Link to comment Share on other sites More sharing options...
Cooked Crack Posted March 13, 2019 Share Posted March 13, 2019 Maybe he just likes texting 🤷🏾♂️ Link to comment Share on other sites More sharing options...
visionary Posted March 13, 2019 Share Posted March 13, 2019 Link to comment Share on other sites More sharing options...
visionary Posted March 13, 2019 Share Posted March 13, 2019 OMG...the dog is running. Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted March 13, 2019 Share Posted March 13, 2019 What America needs now is a yes mam cowboy with dog. Link to comment Share on other sites More sharing options...
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