The rich are doing just fine, thank you, according to a surbey in Forbes' Magazine....In New York City, Mayor Michael Bloomberg clocks in at $19.5 billion....That's only good for number two in Gotham behind businessman Dsvid Koch, who is worth $25 billion.
Bill Gates is tops in the nation at $55 billion followed by Warren Buffet, who tells the President he is not taxed enough.
I would say that anyone who feels they are too rich is allowed to just stroke a check to the government without any changes to the tax code.....
Businessman David Koch beats Mayor Michael Bloomberg to retain title as richest New Yorker on annual Forbes list - NYPOST.com
9 comments:
Some guy named Carlos Slim is the world's richest, from Mehico. You'd think he give all the illegals a job.
Its not like they have a billion dollars in the bank.
Like if you own a bar, you could say its worth a lot. But if you turned the keys to that bar over to a democrat for instance, it would be out of business in a month.
Funny thing about Gates. I assume his worth is in the form of Microsoft stock he owned since the inception. that means his worth is based on the market cap of the stock. He has not sold the stock and therefore has never paid a single penny tax on that "income".
But now (bear with me), lets assume he donates that stock to a charity that his father controls. He gets to pretend already paid tax on it and therefor gets to deduct the donation from his income tax.
Why is buffet worried about the rest of us only paying capital gains of 15% plus 8% NYS when his buddy Bill is paying zero?
You can do anything with numbers. Heard just the other day that the number of millionaires is down rather sharply.
Hell look at a well known local (name not important). Sold several cars. Didn't pay off the trades. Went out. Didn't pay most of his bills. Just sold land and made over a millon. Smiles all the way to the bank. In my old country i would have had him on the hooks.
Facts matter:
1. Corporate taxes are at all-time low.
2. Corporate profits are at all-time high.
3. Even with a 35% bracket, most Corporations (about 55%) do not even pay close to the margain.
4. They are now asking for more.
FYI: GE and many others paid zero. So, I ask: How much lower than zero is fair?
Here's another:
[snip]
Between 2008 and 2010, a dozen major US corporations—including General Electric, ExxonMobil, and Verizon—paid a negative tax rate, despite collectively recording $171billion in pretax US profits, according to an analysis by Citizens for Tax Justice. Taken together, these companies' tax burden was -$2.5 billion, and ten of the companies recorded at least one no-tax year between 2008 and 2010.
Source: analysis by Citizens for Tax Justice.
The democrewrats demolish our tax code and give Ge tax breaks:
Of that $3 billion negative tax burden over five years, GE relied heavily on business tax credits that Sheffer described as “widely available” and included “the credit for manufacturing energy-efficient appliances in the U.S., the credit for research performed in the U.S., and the credit for energy produced from renewable sources.”
http://blogs.reuters.com/david-cay-johnston/2011/08/23/america-is-ges-tax-haven/
What does the taxes paid by a handful of billionaires or multinational companies have to do with Obama and the democrats demanding that tax rates be raised for the rest of high income earners from the existing 35% plus state plus self employment plus inheritance?
The fact is that most high income earners pay high income taxes already but the democrats want to get their greedy little hands on more of it. And they are using GE and Buffet to rabble rouse the mob to go along with this hate crime.
Dannie, GE Boy Jeffrey Immelt is your Boy. He's under the desk of you're boy, Obama. This is your game. These are your broz. Don't blame anybody but yourself. You and yours put them in there. I get tired of hearing your BS. You can't have it both ways.
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