rdw4potus
rdw4potus
Joined: Mar 11, 2010
  • Threads: 80
  • Posts: 6809
August 12th, 2016 at 11:52:22 AM permalink
Quote: SOOPOO

Ummmm... NO! If CEO makes 1 million a year he pays, oh, 400k in state and federal taxes (NY). If he makes 2 million a year he pays maybe 820k. If that extra million is given to 500 workers to boost them from 20k a year to 22k a year, since they pay no federal or state taxes at those levels, the feds and state get LESS when the wealthy make less and the poor make more.
You may still want the poor to make more for a variety of good reasons, but increasing tax revenue is certainly not one of them.



You're probably right for federal income taxes. You're probably not right for total taxes. Lots of "poor" people owning and buying things is gangbusters for sales and property taxes. Enough so that the effect almost certainly exceeds the benefit from 1 rich person paying one time and then placing the money atop their stack of savings.
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
  • Threads: 1166
  • Posts: 19516
August 12th, 2016 at 12:53:09 PM permalink
Quote: rdw4potus

You're probably right for federal income taxes. You're probably not right for total taxes. Lots of "poor" people owning and buying things is gangbusters for sales and property taxes. Enough so that the effect almost certainly exceeds the benefit from 1 rich person paying one time and then placing the money atop their stack of savings.



Warren Buffet famously noted that he pays a lower total tax rate than his secretary.
It's not whether you win or lose; it's whether or not you had a good bet.
odiousgambit
odiousgambit
Joined: Nov 9, 2009
  • Threads: 288
  • Posts: 7915
August 12th, 2016 at 1:11:07 PM permalink
Quote: Wizard

Warren Buffet famously noted that he pays a lower total tax rate than his secretary.



It is because of lower rates on capital gains tax, so I would like to ask if he really thinks a higher rate on that is a good idea? Once you are retired you realize how important that break is.

On the other hand, supposedly hedge fund managers benefit and it's hard for me to accept - seems like they have a loophole. Something tells me they are smart enough to make big political contributions.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
GWAE
GWAE
Joined: Sep 20, 2013
  • Threads: 86
  • Posts: 8209
August 12th, 2016 at 1:12:26 PM permalink
Quote: ECoaster

Any chance some of those funds were transferred along with the machines to the Trop?



I was thinking that at first as well. It is possible.
Expect the worst and you will never be disappointed. I AM NOT WHO YOU THINK I AM.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
  • Threads: 99
  • Posts: 5369
August 12th, 2016 at 1:31:50 PM permalink
Quote: Wizard

Warren Buffet famously noted that he pays a lower total tax rate than his secretary.



In addition to odiousgambits comment, which is true, is what do you consider the CONTRIBUTIONS you make into the social security system? Mr. Buffet considers it a tax, and his tax and his secretary's for SS is the same, as it ends at 115,000 or so, so around $9000 for each of them. And I am guessing Mr. Buffet contributes so much to charity he claims a large deduction WHICH HE DESERVES!
AceCrAAckers
AceCrAAckers
Joined: Jul 12, 2011
  • Threads: 30
  • Posts: 368
August 14th, 2016 at 10:43:16 AM permalink
Just came back from AC and had a long talk with one of the strikers that I knew when I played there.

Asked what she thought about Taj shutting down. She has had four previous such letters so the strikers do not believe it will be shut down.
She had a shift where she had to be outside from 7pm till 4 am.

My feelings are if the strikers do not want players playing while they are on strike and make it uncomfortable for patrons to go in now, what makes them think that these same patrons that they turned away wants to come back when the strike is over.

Told her that there is not enough of a pie to be split up with all the casinos opened in PA, MD. and DE. She felt that the casino in making money and the financial report is wrong.

Inside the casino was dead. They had two craps table with $5 mim with almost no players. I could not get a room comped because I have not given them any action in over a year. Taj knows how to make a bad situation worse.

I don't know what will happen in the end but Taj used to be my "home" casino in AC but it demise does not seem far away.
Edward Snowden is not the criminal, the government is for violating the constitution!
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
  • Threads: 121
  • Posts: 3493
August 14th, 2016 at 10:47:09 AM permalink
Hmmmm weird I just literally walked out of there- seemed normal action- they haven't changed much except they cancelled the free buffet offers- as far as closing im 100 certain they are closing- my host is already going to Tropicana October first - they already had two shut down meetings and canceled anyone gettin a new credit line as well as any incentives on the host part for coming in. Also their two 50k slot tournaments were cancelled -
Slots have same normal traffic and rooms are booked- mostly with people using there comp offers before they are gone
No longer hiring, don’t ask because I won’t hire you either
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 181
  • Posts: 6998
September 2nd, 2016 at 11:24:45 PM permalink
So everything good of the business, the chips, tickets, credit lines, gift cards you can use at Tropicana, and everything directly tied to Taj debt, player comps, whatever no good by 10.11.16.

They're not telling people gaming can cash these things like they have when casinos closed in 2014. I'm suspicious something might be hidden in plain sight here, just for that reason. I'm just thinking out loud here, maybe the closure is a pseudo-closure head fake.

These are separate companies owned by the same guy, aren't they? If Tropicana can cash these gaming chips, can the other casinos? I just am not getting the link besides Icahn owning both. It's good Trop can hope to keep players rather than losing them to the city entirely, but it is also fishy to me.

Other casinos would want to cash these things if Trop can, so why can't they. The casinos could have even paid premiums getting their chips, then hoard them getting table people early if Taj ran out of usable chips from their hoards.

I'm just really stuck on this not mentioning going to gaming to cash tickets and reading into it. It is difficult finding new info and stories since the searches pop up the initial closure announcement. Doesn't gaming have to christen a casino closure officially and casinos can't just close permanently independently.
Winter's hope for us, a sunny day fools us, dreams die with a lie. They tried to kill us, Jimmy. They did. They're dirty f**king cops! *photo is not of an AP.
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
  • Threads: 121
  • Posts: 3493
September 2nd, 2016 at 11:33:42 PM permalink
Taj in not in bankruptcy- Icahn owns it all and can easily sell the debt of the markers to his other holdings- I'm sure the lawyers are or alresdy have worked out merging the assets if they do close- the already have switched over to trop marketing structure and they have the same general manager tony rodio

I still think taj may not close but if they do you can guarantee the trop will have their data base and there will be some new offers from
Trop for taj players
No longer hiring, don’t ask because I won’t hire you either
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 181
  • Posts: 6998
September 3rd, 2016 at 1:00:47 AM permalink
Quote: Wizardofnothing

Taj in not in bankruptcy- Icahn owns it all and can easily sell the debt of the markers to his other holdings- I'm sure the lawyers are or alresdy have worked out merging the assets if they do close- the already have switched over to trop marketing structure and they have the same general manager tony rodio

I still think taj may not close but if they do you can guarantee the trop will have their data base and there will be some new offers from
Trop for taj players


Isn't there some sort of last rite procedure gaming performs a casino must go through closing a casino, ending with surrendering the gaming license? Thought it was regulated you cannot just close by saying you're closing, but it must be official.
Winter's hope for us, a sunny day fools us, dreams die with a lie. They tried to kill us, Jimmy. They did. They're dirty f**king cops! *photo is not of an AP.

  • Jump to: