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Making the rich poorer doesn't make everyone else richer.

Started by Woolly Bugger, November 05, 2008, 12:09:02 PM

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Woolly Bugger

Quote

This isn't just theory. Last week, New York Gov. David Paterson pleaded with Congress to provide emergency aid to states. Heavily dependent on Wall Street for taxes, he testified, New York faces a $12.5 billion budget deficit next year and expects joblessness to rise by 160,000. Wall Street bonuses will drop by 43 percent and capital gains income by 35 percent, he estimated. People in New York would be better off if the securities industry were still booming, even if there were more economic inequality.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/04/AR2008110403817.html?sub=AR
ex - I'm not going to live with you through one more fishing season!

me -There's a season?

Pastor explains icons to my son: you know like the fish symbol on the back of cars.

My son: My dad has two fish on his car and they're both trout!

troutphisher

Woowe,

Hide your wealth. Find ways to reduce your wealth, like trust funds, or off shore accounts.
Get it out or you name and become a trustee.

I am lucky, in that my parents had the foresight to apply for German citizenship when I was born.
This means I can take advantage of deuchesbank, applying my citizen status, and avoiding Obama's tax increases. There are some legal loop holes I can apply. If you have any relatives overseas and trust them, it works out even better.

I am going to spend the next couple of the years in a tax avoidance mode. I would like to beat Kennedy's tax burden of 1.5%. My goal is to get into the .5% range if possible, but Ultimately, I'd like to get into the zero tax rate.

I just have to play the wait and see game of the "real" Obama tax plan, then adjust my income below his benchmark.

In hind sight, this actually gives me something to do other than fishing....LOL

The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.

Woolly Bugger

ex - I'm not going to live with you through one more fishing season!

me -There's a season?

Pastor explains icons to my son: you know like the fish symbol on the back of cars.

My son: My dad has two fish on his car and they're both trout!

Dank

Quote from: Woolly Bugger on November 05, 2008, 12:09:02 PM

Quote

This isn't just theory. Last week, New York Gov. David Paterson pleaded with Congress to provide emergency aid to states. Heavily dependent on Wall Street for taxes, he testified, New York faces a $12.5 billion budget deficit next year and expects joblessness to rise by 160,000. Wall Street bonuses will drop by 43 percent and capital gains income by 35 percent, he estimated. People in New York would be better off if the securities industry were still booming, even if there were more economic inequality.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/04/AR2008110403817.html?sub=AR

How can you attribute the current state of the economy to Obamas proposed tax structure that is not even in effect yet? The reason NY is having problems (along with every other state in the US) is due to the failure of the current administration over the past 8 years. If your alredy wealthy the new tax plan will not make you "poor". Also moving your wealth overseas to avoid a couple percent increase in your tax bracket is rediculous unless youre loaded, and if you are loaded I have no sympathy. I understand the wealthy wanting to look out for their own interests, but when the lower and middle class become conservative and in favor of the rich all it does is show their ignorance and lack of education. Then again mabe the country is waking up. Look who won a couple of nights ago. The Bush administration drove this country into a hole comparable to the great depression, and they would have drove the country to self destruct had they not been kicked out. Since Obamas election the country has renewed its appearence to the rest of the world.


flatlander

Quote from: Dank on November 07, 2008, 13:03:18 PM

Since Obamas election the country has renewed its appearence to the rest of the world.

Thank God France respects us again

This article appeared on CATO...reason enought, I suppose, for the liberals among us to dismiss it as gibberish. Interesting nevertheless:

http://www.cato.org/pub_display.php?pub_id=9769


Trout Maharishi

Quote from: Dank on November 07, 2008, 13:03:18 PM

Quote from: Woolly Bugger on November 05, 2008, 12:09:02 PM

Quote

This isn't just theory. Last week, New York Gov. David Paterson pleaded with Congress to provide emergency aid to states. Heavily dependent on Wall Street for taxes, he testified, New York faces a $12.5 billion budget deficit next year and expects joblessness to rise by 160,000. Wall Street bonuses will drop by 43 percent and capital gains income by 35 percent, he estimated. People in New York would be better off if the securities industry were still booming, even if there were more economic inequality.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/04/AR2008110403817.html?sub=AR

How can you attribute the current state of the economy to Obamas proposed tax structure that is not even in effect yet? The reason NY is having problems (along with every other state in the US) is due to the failure of the current administration over the past 8 years. If your alredy wealthy the new tax plan will not make you "poor". Also moving your wealth overseas to avoid a couple percent increase in your tax bracket is rediculous unless youre loaded, and if you are loaded I have no sympathy. I understand the wealthy wanting to look out for their own interests, but when the lower and middle class become conservative and in favor of the rich all it does is show their ignorance and lack of education. Then again mabe the country is waking up. Look who won a couple of nights ago. The Bush administration drove this country into a hole comparable to the great depression, and they would have drove the country to self destruct had they not been kicked out. Since Obamas election the country has renewed its appearence to the rest of the world.

I am beginning to think that maybe about 10% of the people in the US actually half way understand how the government actually works. If anyone honestly thinks that George Bush all by himself got us into this mess you need to take a basic civics class at your local community college or something. It's all of "THEM", both parties. I have never seen the country so divided, it's sad that it has come to this. Americans have overcome many obstacles to become the great nation that we are, but we did it together. We must demand more from all our elected officials and call BS everytime one of them points the finger at the other side like a kid telling on someone on the playground. Washington as a whole has done this to us, not one person, not one party, not one agency, all of them. I am sick of the lack of accountability from all of them >:(
There's more B.S. in fly fishing than there is in a Kansas feedlot.

Lefty Kreh

trout_boy_II

I couldn't agree with you more, TM.  If a citizen refuses to be involved, then they can hardly complain.  And that applies to whom ever is elected.  And all the campaign rhetoric about bringing us together isn't worth anything if it doesn't happen.  I'm hopeful that it will happen, but it is iimportant that I hold "that one" to his word or he won't get my vote next time.  As I said, I'm hopeful - we'll see...

TB



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