Author Topic: Richest Are Leaving Even the Rich Far Behind (Read 2716 times)

Lizking · « **Reply #45 on:** June 06, 2005, 10:28:34 PM »

No, Redtop, because you do not structure it where the buyer writes you a check for the full amount at closing. You are employed for a few years at a decent salary, you get stock in their company, performance bonuses, long term payouts, etc.

Serious transactions do not involve a paycheck, they involve commitments and paper.

JB73 · « **Reply #46 on:** June 06, 2005, 10:42:15 PM »

how many of those "hyper-rich" are celebrities?

i'd say people making $10 million per movie (directors / actors / producers) are making above the "average" of $3 million / year.

let's say 300 people in hollywood are in that situation minium....

let's say 1/3 of those are making mroe than $10 million / year

let's say 1/2 of all hollywood are making killings off royalities of past work.

now add in the whole entertainment industry, music, TV, and so on.

now add in the who professional sports industry. 100's of rookies making $5 million / year

there are HUGE paychecks going to these people, and adding them all up i would hazard a guess they make up more than 2/3 the whole "hyper-rich"

the "entertaining" industry in America is out of control period. record exec's make insaine ammounts of money, movie studios make insaine ammounts of money.

think about the biggest money maker in the world first before you think of joe schmoe corporate worker.

rpm · « **Reply #47 on:** June 06, 2005, 10:44:38 PM »

But Liz, at some point in time you will cash in or recieve dividends on that stock. That's when you are taxed.

If you are incorporated, you are drawing a paycheck from the "corporation". You are taxed on that check. The "corporation" pays taxes on it's profits.

If you are a sole proprietor, it does not matter if you pay yourself a check or not. You are taxed on the company profits.

You can run, but you can't hide.

Toad · « **Reply #48 on:** June 06, 2005, 11:01:30 PM »

Quote

Originally posted by rpm
I'm a flat tax advocate. Everyone should pay a predetermined percentage. 10% sounds about right.

So you're saying that families that, at present, pay no income tax at all SHOULD have to pay? At least 10%?

Do I read you correctly?

I believe for 2005, Married Filing Joint, anyone with less than $14,600 in income pays ZERO tax.

Your plan would tax these people 10%?

Just needing some clarification.

rpm · « **Reply #49 on:** June 06, 2005, 11:03:48 PM »

Yep, that's what I'm saying. They would not get a refund check.

Toad · « **Reply #50 on:** June 06, 2005, 11:31:39 PM »

Well, they don't PAY any tax now, so they get no refund now. Instead, money is given to them.

Under your system, the poorest of the poor would be.......... poorer after paying their taxes.

That's the system you want? Folks that make $14,600 now would make $13,200 after taxes?

You think that's a good thing then?

rpm · « **Reply #51 on:** June 06, 2005, 11:40:58 PM »

If they are earning an income , i.e. working at a job, they are paying taxes every paycheck. So yes, they get a refund check. If they are on public assistance then they have the option of having taxes withdrawn. It should be manditory, not optional.

It may not be the best solution, but it would be the most fair. Everybody pays the same percentage, no free rides.

Toad · « **Reply #52 on:** June 06, 2005, 11:47:22 PM »

You sir, are a cruel man. I'm sure you will hear from some of the more notable "liberal" type folks on the board shortly. They will probably call you a filthy Republican and other dirty names.

May Cod have mercy upon you. I don't think you can oppose progressive taxation on this board and remain in the "liberal" camp. Good luck.

BTW, in for a penny, in for a pound.

Do you also oppose the transfer of wealth that is our Social Security system as "unfair"?

Just curious.

rpm · « **Reply #53 on:** June 07, 2005, 12:01:09 AM »

WHAT!?! I'm not the leading dirty commie liberal anymore? Dang.

I think the retirement plan known as Social Security is a very good thing. Sorry.

Toad · « **Reply #54 on:** June 07, 2005, 12:42:45 AM »

So let me get this straight.

You oppose the transfer of wealth that is the progressive income tax system

but

you support the transfer of wealth that is the social security system?

rpm · « **Reply #55 on:** June 07, 2005, 12:47:25 AM »

I think you pretty much hit the nail on the head.
I'm a complex individual.

Toad · « **Reply #56 on:** June 07, 2005, 12:48:35 AM »

Complex is probably not the word I would use.

Inconsistent seems more correct.

Anyways... nite. Was fun.

rpm · « **Reply #57 on:** June 07, 2005, 12:58:11 AM »

I prefer the term "Free Spirit".

Steve · « **Reply #58 on:** June 07, 2005, 01:06:39 AM »

Quote

Everybody pays the same percentage, no free rides.

RPM, is this a milestone? The first time we solidly agree on something?

Amen, brother.

Saintaw · « **Reply #59 on:** June 07, 2005, 01:20:09 AM »

Anyway... what kind of ring do you think THOSE pple buy to their wives?