16 Trillion...How long before the US goes bankrupt? - Page 2 - GoFuckYourself.com

Emil · 08-17-2012, 03:14 AM

Quote:

Originally Posted by joshgirls

we are too big to fail now.

I dont believe that for a second, you Americans keep screaming "too big to fail" like a
bunch of crybabies. You use that phrase so much that most of you freaks actually believes it's true.

Zeiss · 08-17-2012, 03:17 AM

Quote:

Originally Posted by CamBoss

I thought the US was already bankrupt

Same thoughts here.

crockett · 08-17-2012, 03:24 AM

Quote:

Originally Posted by Bryan G

Ask Duyba, he started the downfall.

Actually it was Reagan.. He was the 1st of the neo cons to come in and spend money like it was going out of style and every Republican since then has run this country further into the hole. Clinton did a lot to reverse it but Obama sadly has helped add a lot of debt just like the last 3 Republican presidents whom thought it was great idea to run the country like a chick with a credit card and a bad spending habit.

Emil · 08-17-2012, 03:27 AM

Quote:

Originally Posted by crockett

Actually it was Reagan.. He was the 1st of the neo cons to come in and spend money like it was going out of style..

He did also get rid of the gold standard.

Paul Markham · 08-17-2012, 03:34 AM

As soon as Romney issues his tax cuts.

When you're going into deeper debt, the last thing to do is to cut income.

The only cure is long term. Investment in schools is a must. More people studying to be scientist, engineers and the jobs of the future. These type should get a very affordable education of the best level. Lawyers, Doctors and those types can pay for it. The last thing America needs is more of them.

Emil · 08-17-2012, 03:46 AM

They also need to add more fluoride to the water so they get healthy teeth so they can eat vegetables.

Sunny Day · 08-17-2012, 03:56 AM

Quote:

Originally Posted by Minte

My belief? Read the thread, where did I state my belief was cutting a few programs will solve anything.

What I would do if I were in politics and could actually enact change.

Reduce spending.

Make tenure for college professors illegal. Reduce the costs of a college education so more people could learn something without being buried in debt.

I would create a division with serious teeth to oversee waste and corruption in all entitlement programs.

Generate more revenue

There are hundreds of ways to generate revenue. Adding additional taxes to the upper 1% won't fix the deficit. It will only chase those that actually create jobs away.

How the FUCK removing tenure would help the economy? Are you really that stupid?? Or you've been listening to FAUX & Rush too long. The idea of tenure is so teachers can teach ideas that fools like you won't accept. Guess we wouldn't have people like Galileo.
YES keep everybody in the dark.

Got any examples of the 1% creating jobs? They're too busy creating tax deductions.

Waste. No matter how great a program you create, there will be someone who figures out how to scam the system. Oh wait, that's Wall Street & big banks stealing trillions.

tony286 · 08-17-2012, 04:48 AM

Quote:

Originally Posted by crockett

Actually it was Reagan.. He was the 1st of the neo cons to come in and spend money like it was going out of style and every Republican since then has run this country further into the hole. Clinton did a lot to reverse it but Obama sadly has helped add a lot of debt just like the last 3 Republican presidents whom thought it was great idea to run the country like a chick with a credit card and a bad spending habit.

Not true on obama http://www.factcheck.org/2012/06/oba...nferno-or-not/

Sunny Day · 08-17-2012, 04:49 AM

There are six Walton heirs worth billions.
Job Creators?
When you apply for a job at Walmart, they instruct you on how to apply for food stamps and Medicaid. THAT'S JOB CREATION??
And how is firing all those old ladies known as Greaters, job creation? Those old ladies needed those jobs, as Social Security didn't pay enough for the basics of life.

You're the same ass, I used to set next to at a bar bitching, about people on welfare, while bragging about the govt funds, you scammed to make a condo conversion.

tony286 · 08-17-2012, 04:49 AM

Quote:

Originally Posted by Sunny Day

How the FUCK removing tenure would help the economy? Are you really that stupid?? Or you've been listening to FAUX & Rush too long. The idea of tenure is so teachers can teach ideas that fools like you won't accept. Guess we wouldn't have people like Galileo.
YES keep everybody in the dark.

Got any examples of the 1% creating jobs? They're too busy creating tax deductions.

Waste. No matter how great a program you create, there will be someone who figures out how to scam the system. Oh wait, that's Wall Street & big banks stealing trillions.

Its republican thing. lol

Relentless · 08-17-2012, 05:46 AM

http://www.cnn.com/2012/08/17/busine...x.html?npt=NP1

DWB · 08-17-2012, 06:22 AM

Quote:

Originally Posted by Relentless

http://www.cnn.com/2012/08/17/busine...x.html?npt=NP1

Many of thee elite 1% are leaving (in record numbers) and taking their money with them, while the 99% sit around saying everything is fine, the USA is too big to fail, and China would never let us collapse.

It's safe to say that someone worth millions or even billions may have a better clue of what is about to happen than the average Joe.

tony286 · 08-17-2012, 06:29 AM

Quote:

Originally Posted by DWB

Many of thee elite 1% are leaving (in record numbers) and taking their money with them, while the 99% sit around saying everything is fine, the USA is too big to fail, and China would never let us collapse.

It's safe to say that someone worth millions or even billions may have a better clue of what is about to happen than the average Joe.

Solid as a rock. They cant be taking their money that far if the market is high as it is.

Relentless · 08-17-2012, 07:02 AM

Quote:

Originally Posted by DWB

Many of thee elite 1% are leaving (in record numbers) and taking their money with them, while the 99% sit around saying everything is fine, the USA is too big to fail, and China would never let us collapse. It's safe to say that someone worth millions or even billions may have a better clue of what is about to happen than the average Joe.

The 'job creator' narrative is also disproven. The people benefiting the most and paying the least are the ones who are NOT creating jobs. A business owner who builds a business, works at it every day and hires others is getting pounded. So is every person who works for him. Meanwhile people who push paper around, trust funders and the truly wealthy elite have most of their earnings exempted from 'income' and taxed at a completely unrelated rate.

Minte has been vocal recently about owning a manufacturing plant, employing people and paying a fair wage to his employees. Good for him. Why should his tax rate be more than double what Mitt Romney or Warren Buffet pay? Why should my tax rate be more than double what they pay? Warren Buffet pointed out that his own secretary pays more than double the percentage of her income in taxes that he pays.

If I pay much more than a poor person, I can accept the fact that I am in a better position to shoulder the burden (within reason) and that I have more of a vested interest in preserving the status quo. I can not accept the notion that someone making 50 Million a year should pay less than 1% in taxes for the specific reason that they did not earn their 'income' from payroll or job creation, have lobbied congress to give them specific tax credits or exemptions on dressage horses, or have skirted the IRS with Swiss bank accounts and seek to lead our country without being willing to disclose their own compliance with tax policy. That is EXACTLY what a Romney/Ryan ticket represents.

geedub · 08-17-2012, 07:10 AM

Quote:

Originally Posted by Sunny Day

How the FUCK removing tenure would help the economy? Are you really that stupid?? Or you've been listening to FAUX & Rush too long. The idea of tenure is so teachers can teach ideas that fools like you won't accept. Guess we wouldn't have people like Galileo.
YES keep everybody in the dark.

Got any examples of the 1% creating jobs? They're too busy creating tax deductions.

Waste. No matter how great a program you create, there will be someone who figures out how to scam the system. Oh wait, that's Wall Street & big banks stealing trillions.

He is a job creator himself

theking · 08-17-2012, 07:11 AM

Quote:

Originally Posted by DWB

Many of thee elite 1% are leaving (in record numbers) and taking their money with them, while the 99% sit around saying everything is fine, the USA is too big to fail, and China would never let us collapse.

It's safe to say that someone worth millions or even billions may have a better clue of what is about to happen than the average Joe.

Name some of the "elite 1%" that are leaving "(in record numbers) taking their money with them"...as I say that is just more pigshit from you.

Relentless · 08-17-2012, 07:14 AM

Quote:

Originally Posted by theking

Name some of the "elite 1%" that are leaving "(in record numbers) taking their money with them"...as I say that is just more pigshit from you.

Facebook co-founder Eduardo Saverin
Jim Rogers, the co-founder of the Quantum Fund
http://www.cnn.com/2012/08/17/busine...x.html?npt=NP1

Denise Rich
http://www.reuters.com/article/2012/...8680MN20120709

The very wealthy are not job creators in many cases and have little or no allegiance to the United States. There is a huge difference between barely rich people and wealthy people. Wealthy people are multinational and so are the companies they own. The claw-back provisions on income earned as a US citizen by someone seeking to become an expat should be 1000x more severe than they currently are at the moment.

I'm all for a 'job creator' tax break. There should be a tax incentive to employ more than X number of people at a fair wage for more than one year, excluding family members. Giving narrowly defined tax incentives to job creators has nothing to do with giving tax breaks to wealthy people as a blanket policy.

theking · 08-17-2012, 07:23 AM

Quote:

Originally Posted by Relentless

The 'job creator' narrative is also disproven. The people benefiting the most and paying the least are the ones who are NOT creating jobs. A business owner who builds a business, works at it every day and hires others is getting pounded. So is every person who works for him. Meanwhile people who push paper around, trust funders and the truly wealthy elite have most of their earnings exempted from 'income' and taxed at a completely unrelated rate.

Minte has been vocal recently about owning a manufacturing plant, employing people and paying a fair wage to his employees. Good for him. Why should his tax rate be more than double what Mitt Romney or Warren Buffet pay? Why should my tax rate be more than double what they pay? Warren Buffet pointed out that his own secretary pays more than double the percentage of her income in taxes that he pays.

If I pay much more than a poor person, I can accept the fact that I am in a better position to shoulder the burden (within reason) and that I have more of a vested interest in preserving the status quo. I can not accept the notion that someone making 50 Million a year should pay less than 1% in taxes for the specific reason that they did not earn their 'income' from payroll or job creation, have lobbied congress to give them specific tax credits or exemptions on dressage horses, or have skirted the IRS with Swiss bank accounts and seek to lead our country without being willing to disclose their own compliance with tax policy. That is EXACTLY what a Romney/Ryan ticket represents.

In theory...if someone like Romney has been honest...he has already paid income tax on the monies that he earned and invested...and he no longer pays income tax because his only income now is from the capital gains of his investments and that monies that he had previously earned and invested...is actually being taxed again via capital gains tax but capital gains is taxed at a lower rate than payroll income tax.

Relentless · 08-17-2012, 07:54 AM

Quote:

Originally Posted by theking

In theory...if someone like Romney has been honest...he has already paid income tax on the monies that he earned and invested...and he no longer pays income tax because his only income now is from the capital gains of his investments and that monies that he had previously earned and invested...is actually being taxed again via capital gains tax but capital gains is taxed at a lower rate than payroll income tax.

In theory? How about in Reality...

In Reality Romney inherited a boatload of money from his father. He used the political contacts and connections of his father to create a hedge fund. He opened bank accounts in Switzerland and funneled profits through Luxembourg to avoid paying taxes. He will not release his tax returns (even though his own father was the guy who campaigned on the idea that all candidates must make their financial records public for the safety of the voting public) because he has been so shady. Under the Ryan tax plan his 2010 tax rate would drop from the 13% he paid to less than 1% using actual numbers from the Ryan plan and his real 2010 tax return. His tax rate is so low due mostly to the 'carried interest' loophole he uses to profit off other people's money, not investment of his own money.

Meanwhile, the middle class American goes to work 5+ days per week, works overtime as much as possible, has a standard of living significantly worse than it was a generation ago and gets taxed at 2 to 3 times the percentage Romney paid in 2010 or more than 30x the rate Romney would have paid under the Ryan plan.

Fixing this country can be done in 10 simple steps:
1) Overturn the Citizens United decision and the notion that corporations are people

2) Add a national sales tax, close all tax loopholes and turn the entire US tax code into a two or three page pamphlet that allows a handful of basic subsistence exclusions which every American would be allowed.

3) Break up the banks similar to what was done with Glass-Steagall but go further and require them to be operated as partnerships which adds real criminal consequences to the board and executives of any bank or energy company that violates the law, instead of continuing to apply meaningless fines. Also add a per very small transaction tax on each share of stock traded to completely end momentum trading by brokers. (something Mark Cuban previously proposed)

4) Publicly fund elections. Zero use of campaign contributions and do not allow candidates to spend their own money on their campaigns. A strict limit on all campaign spending, end to soft money and PAC involvement.

5) Put through a real single payer health care system that allows for private supplemental insurance of anyone who wants to buy it, or cash payments to doctors by anyone who opts out.

6) Add means testing to Social Security and all other entitlement programs.

7) Require publicly funded preschool starting at age 3 rather than kindergarten at age 5 when too many kids are already behind. Make public school a full year system with classes scheduled from 9 to 5 rather than farmers hours... and pay teachers as full time full year employees.

8) Create a regulatory agency for all necessary services provided by the private sector including Education, Energy, Health and Food that requires price increases to be tied to expenses. Universities, Oil companies, Corporate Farming and Hospitals do not function properly as strictly 'for profit' entities and need to be regulated as public utilities.

9) Completely overhaul intellectual property law. The way patent trolling and piracy have been handled by laws that predate the digital age is laughable.

10) End all state sponsored support for religions of any kind. If a religious organization does something charitable it should get the same exemptions as any other organization. The notion that these groups should somehow be tax free is being exploited by many small groups and large religions as well.

That's what I would do in my first 100 days in office if elected... though attempting to do that would get me assassinated long before it ever happened even if I got elected.

Minte · 08-17-2012, 08:02 AM

Quote:

Originally Posted by Relentless

Killing tenure has nothing to do with tuition costs. Tuition costs are not based in any way on expenses or costs per student.
Harvard has an endowment large enough to provide 100% free education to every student if they wanted to do it.
They get more money in alumni donations than their expenses sum out to...
College is a business, much like health care is a business.

They are being run as for PROFIT industries not societal necessities.
We have private companies profit off basic health, necessary education, required energy and our military security.
Tenure and the dopey professors aren't driving up costs. Costs and price have been completely divorced from one another.

I really hope you are getting what's going on.

Private schools like Harvard aren't the issue. They are private afterall and don't have many students. Harvard normally has around 2000 students enrolled. The school I went to, UW-Madison has 45,000 students with a huge annual payroll. People that live here all know that the UW could lose 20% of the staff and do a better job educating for less money.

Everyone who works for it should be able to get a secondary education. The way costs are rising here it's making it more and more difficult for people from WI. to even get accepted at Madison. I don't have numbers, but I see the numbers of people from outside the US increasing every year.

This link lists salaries from 4-5 years ago.

http://www.collegiatetimes.com/datab...consin-madison

Paul Markham · 08-17-2012, 08:08 AM

Quote:

Originally Posted by Minte

My belief? Read the thread, where did I state my belief was cutting a few programs will solve anything.

What I would do if I were in politics and could actually enact change.

Reduce spending.

Force military spending reductions by 5% annually for 6 years and then only COLA increases.

Make tenure for college professors illegal. Reduce the costs of a college education so more people could learn something without being buried in debt.

I would create a division with serious teeth to oversee waste and corruption in all entitlement programs.

Generate more revenue

I would immediately create a 5% federal sales tax. After one year if the budget starts moving in the right direction I would cut that tax back by 1% annually until it hit 2% and that would remain permanently.

I would create a flat tax. 16 -18%

I would make pot legal, and allow US farmers to grow it and tax it at the same rate cigarets and liquor is taxed. Along with that, anyone who is currently jailed for any pot related crimes would be freed from prison.

There are hundreds of ways to generate revenue. Adding additional taxes to the upper 1% won't fix the deficit. It will only chase those that actually create jobs away.

This was the only part of your post that made sense. Generate more revenue

And you said nothing about how it's to be done. Tax cuts will do the opposite. It would mean more jobs in China.

theking · 08-17-2012, 08:10 AM

Quote:

Originally Posted by Relentless

In theory? How about in Reality...

In Reality Romney inherited a boatload of money from his father. He used the political contacts and connections of his father to create a hedge fund. He opened bank accounts in Switzerland and funneled profits through Luxembourg to avoid paying taxes. He will not release his tax returns (even though his own father was the guy who campaigned on the idea that all candidates must make their financial records public for the safety of the voting public) because he has been so shady. Under the Ryan tax plan his 2010 tax rate would drop from the 13% he paid to less than 1% using actual numbers from the Ryan plan and his real 2010 tax return. His tax rate is so low due mostly to the 'carried interest' loophole he uses to profit off other people's money, not investment of his own money.

Meanwhile, the middle class American goes to work 5+ days per week, works overtime as much as possible, has a standard of living significantly worse than it was a generation ago and gets taxed at 2 to 3 times the percentage Romney paid in 2010 or more than 30x the rate Romney would have paid under the Ryan plan.

Fixing this country can be done in 10 simple steps:
1) Overturn the Citizens United decision and the notion that corporations are people

2) Add a national sales tax, close all tax loopholes and turn the entire US tax code into a two or three page pamphlet that allows a handful of basic subsistence exclusions which every American would be allowed.

3) Break up the banks similar to what was done with Glass-Steagall but go further and require them to be operated as partnerships which adds real criminal consequences to the board and executives of any bank or energy company that violates the law, instead of continuing to apply meaningless fines. Also add a per transaction tax on each share of stock traded to completely end momentum trading by brokers. (something Mark Cuban previously proposed)

4) Publicly fund elections. Zero use of campaign contributions and do not allow candidates to spend their own money on their campaigns. A strict limit on all campaign spending, end to soft money and PAC involvement.

5) Put through a real single payer health care system that allows for private supplemental insurance of anyone who wants to buy it, or cash payments to doctors by anyone who opts out.

6) Add means testing to Social Security and all other entitlement programs.

7) Require publicly funded preschool starting at age 3 rather than kindergarten at age 5 when too many kids are already behind. Make public school a full year system with classes scheduled from 9 to 5 rather than farmers hours.

8) Create a regulatory agency for all necessary services provided by the private sector including Education, Energy, Health and Food that requires price increases to be tied to expenses. Universities, Oil companies, Corporate Farming and Hospitals do not function properly as strictly 'for profit' entities and need to be regulated as public utilities.

9) Completely overhaul intellectual property law. The way patent trolling and piracy have been handled by laws that predate the digital age is laughable.

10) End all state sponsored support for religions of any kind. If a religious organization does something charitable it should get the same exemptions as any other organization. The notion that these groups should somehow be tax free is being exploited by many small groups and large religions as well.

That's what I would do in my first 100 days in office if elected... though attempting to do that would get me assassinated long before it ever happened even if I got elected.

That platform looks pretty good for the most part...but as you are aware it is not realistic...as there is not anything in that platform that is within the power of the executive branch to enact. The power of the "bully pulpit" is pretty much the only domestic power that the executive branch has. Domestic power lies within the Congress.

Makaveli · 08-17-2012, 08:11 AM

All of the West is on a downward spiral. It may take 2 years, might take 20, 30, 40. Who knows. It really is not if it's going to happen. It's a matter of when it will all come crashing down.

Relentless · 08-17-2012, 08:12 AM

Quote:

Originally Posted by Minte

Private schools like Harvard aren't the issue. They are private afterall and don't have many students. Harvard normally has around 2000 students enrolled. The school I went to, UW-Madison has 45,000 students with a huge annual payroll. People that live here all know that the UW could lose 20% of the staff and do a better job educating for less money.

Tie the cost of tuition to the amount spent on each student of the university. If they did that tuition prices would fall through the floor at thousands of schools. That massive downward pressure on price would take care of the rest in short order. Tenure at the higher education level is vital because it is the only thing that allows students to be taught unpopular things. You can pass regulations that bring costs in line (or impact salaries) without removing the protection against being fired for saying things the Board of Trustees dislikes. Getting rid of tenure is killing a mosquito with a machine gun, we can be smarter than that.

Quote:

Everyone who works for it should be able to get a secondary education. The way costs are rising here it's making it more and more difficult for people from WI. to even get accepted at Madison. I don't have numbers, but I see the numbers of people from outside the US increasing every year. This link lists salaries from 4-5 years ago. http://www.collegiatetimes.com/datab...consin-madison

I agree completely that costs need to be brought down substantially. That does not require making professors subject to being fired for teaching content disliked by the Trustees. You need to separate the need for cost controls from the need for educators to be able to teach unpopular content. Both are important and you do not need to kill one to preserve the other.

Relentless · 08-17-2012, 08:14 AM

Quote:

Originally Posted by theking

That platform looks pretty good for the most part...but as you are aware it is not realistic...as there is not anything in that platform that is within the power of the executive branch to enact. The power of the "bully pulpit" is pretty much the only domestic power that the executive branch has. Domestic power lies within the Congress.

That's why I said earlier in the thread that Citizens United will in fact end our Democracy within 100 years. Until that one decision gets overturned or repealed by Constitutional Amendment every other thing we discuss is 'not possible' or 'won't be allowed by people in power.'

Minte · 08-17-2012, 08:15 AM

Quote:

Originally Posted by kane

Some very good ideas although I might be hesitant about the national sales tax unless it was created in a way that basic needs like food, medicine and things like that were exempt because otherwise it could end up being pretty damaging to the poor. Aside from that I think this is a legit answer.

A national sales tax would exclude all the things you mention. Another issue is the loss of state sales tax from internet sales. If there were a national sales tax all that money would be collected by the feds and could be distributed to the states.

2012 · 08-17-2012, 08:29 AM

TOO BIG TO FAIL

tony286 · 08-17-2012, 08:46 AM

Quote:

Originally Posted by Relentless

In theory? How about in Reality...

In Reality Romney inherited a boatload of money from his father. He used the political contacts and connections of his father to create a hedge fund. He opened bank accounts in Switzerland and funneled profits through Luxembourg to avoid paying taxes. He will not release his tax returns (even though his own father was the guy who campaigned on the idea that all candidates must make their financial records public for the safety of the voting public) because he has been so shady. Under the Ryan tax plan his 2010 tax rate would drop from the 13% he paid to less than 1% using actual numbers from the Ryan plan and his real 2010 tax return. His tax rate is so low due mostly to the 'carried interest' loophole he uses to profit off other people's money, not investment of his own money.

Meanwhile, the middle class American goes to work 5+ days per week, works overtime as much as possible, has a standard of living significantly worse than it was a generation ago and gets taxed at 2 to 3 times the percentage Romney paid in 2010 or more than 30x the rate Romney would have paid under the Ryan plan.

Fixing this country can be done in 10 simple steps:
1) Overturn the Citizens United decision and the notion that corporations are people

2) Add a national sales tax, close all tax loopholes and turn the entire US tax code into a two or three page pamphlet that allows a handful of basic subsistence exclusions which every American would be allowed.

3) Break up the banks similar to what was done with Glass-Steagall but go further and require them to be operated as partnerships which adds real criminal consequences to the board and executives of any bank or energy company that violates the law, instead of continuing to apply meaningless fines. Also add a per very small transaction tax on each share of stock traded to completely end momentum trading by brokers. (something Mark Cuban previously proposed)

4) Publicly fund elections. Zero use of campaign contributions and do not allow candidates to spend their own money on their campaigns. A strict limit on all campaign spending, end to soft money and PAC involvement.

5) Put through a real single payer health care system that allows for private supplemental insurance of anyone who wants to buy it, or cash payments to doctors by anyone who opts out.

6) Add means testing to Social Security and all other entitlement programs.

7) Require publicly funded preschool starting at age 3 rather than kindergarten at age 5 when too many kids are already behind. Make public school a full year system with classes scheduled from 9 to 5 rather than farmers hours... and pay teachers as full time full year employees.

8) Create a regulatory agency for all necessary services provided by the private sector including Education, Energy, Health and Food that requires price increases to be tied to expenses. Universities, Oil companies, Corporate Farming and Hospitals do not function properly as strictly 'for profit' entities and need to be regulated as public utilities.

9) Completely overhaul intellectual property law. The way patent trolling and piracy have been handled by laws that predate the digital age is laughable.

10) End all state sponsored support for religions of any kind. If a religious organization does something charitable it should get the same exemptions as any other organization. The notion that these groups should somehow be tax free is being exploited by many small groups and large religions as well.

That's what I would do in my first 100 days in office if elected... though attempting to do that would get me assassinated long before it ever happened even if I got elected.

You would have my vote but to do that I think of what William F Buckley once said." What this country needs is a benevolent dictator with cancer". Then those things could be done.

Sunny Day · 08-17-2012, 09:13 AM

Quote:

Originally Posted by theking

Name some of the "elite 1%" that are leaving "(in record numbers) taking their money with them"...as I say that is just more pigshit from you.

Campbell Soup Co. millionaire J.T. Dorrance owned a huge ranch near Devils Tower. In 1989, Forbes ranked Dorrance #107 on the magazine's list of "100 Richest People in America." Backed by a $660 million fortune, he locked horns with the Wyoming Game and Fish Dept. when he decided to try and populate his ranch with a wide range of exotic animals with "illegal alien" status.
http://money.cnn.com/magazines/fortu...0/09/10/73983/
list of people that own the US or left their US citizenship for tax purposes.
Mr J.T. Dorrance, was heir to some small company called Campbells Soup. Booked off to a country in Central America.
How many examples you need?? I can quote them all day. What about Marc Rich? Or that guy named Mitt, that has offshore accounts? What about Richard Nixon having an account at the Castle Bank and Trust in the Bahamas? Same place his Mafia buddy & next door neighbor had an account. Bebe Rebozo who made his money in WW II doing tire recapping while Nixon was in charge of the rationing board for tires.
Not saying anything illegal went on, but people told me, gas you could get. Good luck on a tire.
Amazes me how people defend criminals. Then again, if I was making several million a year, I'd hide from the tax man, if I couldn't figure out how to do it legally.

DWB · 08-17-2012, 09:29 AM

Quote:

Originally Posted by tony286

They cant be taking their money that far if the market is high as it is.

Not taking, took. Most of them are smart enough to have most of it offshore to begin with, and they know how to play the currency game. They are wealthy for a reason. And being able to drastically lower taxes, or in some cases pay none at all, it is a no brainer for them to leave. Various countries around the world are setting up entire areas for the wealthy who are leaving to resettle. Private airports and all.

Quote:

Originally Posted by theking

Name some of the "elite 1%" that are leaving "(in record numbers) taking their money with them"...as I say that is just more pigshit from you.

That has been discussed on every major media outlet. The list is now published of everyone who renounces, as a way to attempt to name and shame them. But the joke is on the government, as they are now free for the first time in their life.

I know you are a flag waving dolt with a low IQ, but in order to renounce your citizenship, you have to have another one. And to get another one, it is very expensive to just buy one outright as most are doing. The average dick head like yourself can not afford to renounce because unless he already has dual citizenship from somewhere else, he can not afford to just buy a new citizenship and has to still pay a lot of money AND spend a LOT of time making it happen. The wealthy elite just buy theirs. I know such a concept is foreign to you, but there is a big world outside of 'Merica, and you are obviously clueless as to how it works.

And since you're always too lazy to look something up for yourself, I'll leave you with a few quotes from the NY Post:

Quote:

As many as 8,000 US citizens are projected by immigration officials to renounce in 2012, or about 154 a week, versus 3,805 in 2011, or about 73 per week.

Quote:

High-net-worth individuals are making decisions that having a US passport just isn?t worth the cost anymore,? said Jim Duggan, a lawyer at Duggan Bertsch, which specializes in protecting assets of the wealthy.

Quote:

America?s rich are renouncing their citizenship at record levels.

08-17-2012, 03:34 AM	#55
Paul Markham Too old to care Industry Role: Join Date: Jun 2001 Location: On the sofa, watching TV or doing my jigsaws. Posts: 52,943	As soon as Romney issues his tax cuts. When you're going into deeper debt, the last thing to do is to cut income. The only cure is long term. Investment in schools is a must. More people studying to be scientist, engineers and the jobs of the future. These type should get a very affordable education of the best level. Lawyers, Doctors and those types can pay for it. The last thing America needs is more of them. __________________ Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500. PM me for a deal. Skype Paulmarkham70

08-17-2012, 03:46 AM	#56
Emil Confirmed User Join Date: Feb 2007 Location: Sweden Posts: 5,650	They also need to add more fluoride to the water so they get healthy teeth so they can eat vegetables. __________________ Free 🅑🅘🅣🅒🅞🅘🅝🅢 Every Hour (Yes, really. Free ₿itCoins.) (Signup with ONLY your Email and Password. You can also refer people and get even more.)

08-17-2012, 04:49 AM	#59
Sunny Day Confirmed User Industry Role: Join Date: Dec 2010 Posts: 1,406	Job Creators There are six Walton heirs worth billions. Job Creators? When you apply for a job at Walmart, they instruct you on how to apply for food stamps and Medicaid. THAT'S JOB CREATION?? And how is firing all those old ladies known as Greaters, job creation? Those old ladies needed those jobs, as Social Security didn't pay enough for the basics of life. You're the same ass, I used to set next to at a bar bitching, about people on welfare, while bragging about the govt funds, you scammed to make a condo conversion.

08-17-2012, 05:46 AM	#61
Relentless www.EngineFood.com Industry Role: Join Date: Aug 2006 Posts: 5,697	http://www.cnn.com/2012/08/17/busine...x.html?npt=NP1 __________________ Website Secure \| Engine Food ICQ# 266-942-896

08-17-2012, 08:11 AM	#73
Makaveli Confirmed User Industry Role: Join Date: Feb 2001 Posts: 1,027	All of the West is on a downward spiral. It may take 2 years, might take 20, 30, 40. Who knows. It really is not if it's going to happen. It's a matter of when it will all come crashing down.

08-17-2012, 08:29 AM	#77
2012 So Fucking What Industry Role: Join Date: Jul 2006 Posts: 17,189	TOO BIG TO FAIL