I saw this on a forum today. I'm not sure it's as true as it was at one time, but it should be.
"I read recently that when voting and making public policy, people tend to look at the whole spectrum of wealth. In the UK we look at the poorest and say "That might be me one day" and vote accordingly. In America they look at the richest and say "That might be me one day" and vote accordingly."
Mikek
I don't think most people here look at things that way. Most people wonder if they, and their kids, will be somewhat better off or somewhat worse off.
-- John Larkin Highland Technology, Inc lunatic fringe electronics
I do like the saying as it is kind of profound and I thhink it is true in ways...
In my case, I would like to retire some day. All I really have is my business which might be sold at some time. I had to look up what the "one percent" consisted of since, in the USA at least, one presidential candidate (Bernie Sanders) would like to tax that one percent at 92%.... From what information I could find, the one percent makes about $8.5 million and greater. If my company were to sell and I got say, $9 million, then I would have about $720,000 to retire on. That's not enough if I am going to live another 20 to 25 years. As it is now, at say, 40% tax, I would get $5.4 million which would be pretty good for me and the government which is going to piss most of it away, anyway.
I think that what would happen if that 92% tax were to be implemented is that the rich guys who also employ a LOT of people would just find a way to leave the country and take their money with them. I can't vote for a self-proclaimed socialist for these reasons.
But on the surface, that is a neat saying with a lot of truth to it. boB
Heck, I would be happy if the 1% paid their fair share of tax !!
The USA has I think the world's 2nd highest corporate income tax rate. Add California's 10%, and you have a red carpet laid out from the US to Ireland or Aruba. They'll take their jobs with them.
I always get scared when people say "fair share."
Most of that 1% don't have bars of gold in the basement, they have stock shares.
The biggest, fattest, greediest monolopy in the world is the US Federal government.
-- John Larkin Highland Technology, Inc picosecond timing precision measurement jlarkin att highlandtechnology dott com http://www.highlandtechnology.com
Den onsdag den 3. februar 2016 kl. 23.08.57 UTC+1 skrev John Larkin:
the best government money can buy, the big guys likes tax it keeps the small guys down, they themselves are not affected they can move their money around the world to avoid it
-Lasse
On Wednesday, February 3, 2016 at 5:26:26 PM UTC-5, Lasse Langwadt Christensen
I am about to start my tax return. Please tell me how I can move my money around to avoid taxes.
Dan
Den onsdag den 3. februar 2016 kl. 23.36.35 UTC+1 skrev snipped-for-privacy@krl.org:
first you become a billion dollar company with branches in multiple countries then you hire a bunch of good accountants
-Lasse
Yep. And we actually manufacture here and employ 75 to 100 people and pay higher than minimum wage. Let's move all these jobs overseas... NOT !
boB
I worked for a large US corporation that made tape backup devices. The difference in the way they were advertised was curious.
In the US the adverts had a picture of a man screaming because he hadn't used the product.
In Europe the adverts had a picture of a baby sleeping soundly.
US: fear sells. Europe: comfort/safety sells.
Not even close: Americans are angry and they're not buying the bullshyte an ymore.
"For the first time in American history, a majority of eligible voters are unmarried women, people of color, and millennials (according to a new poll from Democracy Corps). They could well comprise the majority of actual vote rs in the 2016 election. A recent Pew poll shows most of them feel the game is rigged against them, that the government works only for the wealthy, an d that billionaires are buying elections. They want fundamental political r eform. They're hardly alone. A New York Times/CBS News poll found 98 percent of Am ericans believe campaign financing needs to change, and 85 percent believe the system needs fundamental change or to be rebuilt completely. Bottom line: The American electorate is ready for progressive change. "
-RReich
The rich didn't leave places when 95% income taxes were in force - they just paid accountants to re-organise how they got paid so their incomes weren't high enough to get taxed at the maximum rate.
Socialist governments eventually woke up to this, so maximum marginal rates of income tax don't seem to go above 60% these days. The "92% income tax" was what was in force under Eisenhower and Bernie Sanders was just referring back to that. The US does need to tax the rich more heavily
and the current US maximum rate of 39.6% on the top tranche of income is low. Germany charges up to 45%, with a 5.5% "solidarity tax" on top of that. In Australia it's 45% again, with a 2% Medicare levy on top of that, and in the Netherlands 52%.
-- Bill Sloman, Sydney
Hmm, I thought the US ad would have a babe in a bikini.
one
end
and
The US corporate tax rate is high, but hardly anybody pays it. The US colle cts a lower proportion of corporate income than most advanced industrial co untries, because lobbyist have written enough industry-specific loop-holes into the corporate tax legislation to keep every comapy that can afford lob byists perfectly happy.
It's large, but it's nowhere near as greedy as the 1% of the US population that owns 35.4% of the private wealth of the country, and run the US in a w ay that serves the interest of that 1%.
-- Bill Sloman, Sydney
Or ready for conservative change.
-- John Larkin Highland Technology, Inc picosecond timing precision measurement jlarkin att highlandtechnology dott com http://www.highlandtechnology.com
e d d
anymore.
re unmarried women, people of color, and millennials (according to a new po ll from Democracy Corps). They could well comprise the majority of actual v oters in the 2016 election. A recent Pew poll shows most of them feel the g ame is rigged against them, that the government works only for the wealthy, and that billionaires are buying elections. They want fundamental politica l reform.
Americans believe campaign financing needs to change, and 85 percent belie ve the system needs fundamental change or to be rebuilt completely.
From ridiculously conservative to insanely reactionary?
On the international scene the US has always been remarkably right-wing - i t's attitude to trade unions is the most obvious marker - and having a high er level of economic inequality than any other advanced industrial country doesn't leave it much space to move further right.
If the US was any other country, the CIA would be at a loss on how to organ ise a right-wing takeover, as they did in Iran in 1953, and in Chile in 197
3, because they wouldn't be able to find a more right-wing group to run the country than the present incumbents.-- Bill Sloman, Sydney
it seems to me that you could claim the business as a $9 million loss on the same form and come out even and pay no tax on that transaction. I mean, after selling it you haven't still got it...
-- \_(?)_
Ahhh.... I LIKE it ! But wouldn't they see through a cheap trick like that ?
boB
they pay a pittance in corporation tax by bouncing money between Ireland, Netherlands, Ireland and accumulating it in Bermuda. It goes by the glorious name of a double-Irish with a Dutch sandwich.
Our chancellor recently announced a "Major victory" against Google's
Google on ten years of back tax owed after a lengthy investigation. This is at a rough approximation about 10% of what they really owed. No-one is impressed not even other members of the Tory government.
It couldn't have come at a worse time as individual taxpayers are hit with serious fines for failing to file and pay up by 31/1 to see a major corporation caught cheating and getting off so lightly because their fat slimy lawyers and accountants have more balls than HMRCs.
They are nothing like as bad as Facebook or Starbucks though who pay next to nothing in corporation tax in the UK by channelling all profits overseas by very devious multi country IP related fee structures and an insane loan structure designed to suck profits out of the UK.
The thing that they all have in common is that they exploit tax loopholes deliberately left in the national tax codes by government "advisors" who work for the major international accounting firms (and even advertise their corporate tax avoidance services on that basis!).
To make a point about this fiasco a small Welsh village is setting up the offshore corporate structures to force a change in UK law and they have some heavyweight tax advisors behind them. It may well spread.
-- Regards, Martin Brown
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