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Nathan
Nathan
Joined: Sep 2, 2016
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January 27th, 2019 at 7:36:21 PM permalink
I've always thought it was,"You make a lot of money, you pay more taxes. If you make a little bit of money, you pay less taxes."
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D
RS
RS
Joined: Feb 11, 2014
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happahero
January 27th, 2019 at 7:46:20 PM permalink
Quote: MaxPen

Bill Gates? That wonderful guy that wants to see a 4x reduction in the world population. No thanks. He can go first though.


I'm not sure what you're referencing, but I suspect there's a gap in understanding what he's saying. He probably said something like -- optimally, earth should only have 1/4 of the current population. Even if we'd be better off with 1/4 of the population, as Bill Gates might say (idk), it doesn't mean he wants to actually kill off a bunch of people.


How do I donate to his foundation/charity?




As far as all this tax BS goes....remember, this isn't their end goal, it's just the start. If it goes into law and whatnot, then either it's going to be successful or it's going to fail. If it's a success, they'll say how awesome it is, so good, much wow, but there are still problems -- easy solution, we'll just bump it up. It's currently 70% tax above $10M income, now we'll make it 70% above $5M and 90% above $10M. And so on. But if it fails -- same outcome, people will say how it's just "not enough" and we need to do more, so again, they change it from 70% above $10M to 70% above $5M and 90% above $10M.

I know this thread is about taxes on wealth or net worth, and not income, but the same thing applies.



Quote: Nathan

I've always thought it was,"You make a lot of money, you pay more taxes. If you make a little bit of money, you pay less taxes."


Fewer*, you'd pay fewer taxes.
Minty
Minty
Joined: Jan 23, 2015
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January 27th, 2019 at 7:51:06 PM permalink
Unfortunately, the slippery slope of legislation is something that affects all political leanings.
"Just because I'm not doing anything illegal, doesn't mean I won't have to defend myself someday." -Chip Reese
billryan
billryan
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Minty
January 27th, 2019 at 8:09:28 PM permalink
That is the theory, but wealthy people have all sorts of tax benefits and ways of structuring transaction that they often pay a smaller percentage of their income in taxes than middle class people do.
happahero
happahero
Joined: Dec 8, 2011
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Minty
January 27th, 2019 at 8:33:15 PM permalink
Quote: Minty

I don't know if I'd go quite that far to say there shouldn't be big corporations. I'd argue that big corporations should be regulated more than they currently are with higher wages for most employees and less for those at the top, but exactly how that breakdown should look, I'm unsure. In a different thread someone referenced the rate of CEO pay to employee pay has completely spiraled out of control in the last 50 or so years.

Maybe it's appropriate for CEOs to be paid 30x what their employees make. Maybe even 50x. I don't know, but between stock options, base pay, bonuses, bailouts, offshore money and tax loopholes I don't think it's absurd that the gap is narrowed a bit.

Big corporations give people jobs and add loads of value to society. However, it's important that we recognize these big corporations NEED people for the ability to function in the first place.



One reason the CEO to worker pay gap could be increasing is companies entering into international markets. Take Wynn resorts for example. Steve Wynn had double the headaches and responsibility for expanding his company internationally to Macau. He made shareholders a lot of money expanding there and was compensated accordingly. A local vegas blackjack dealer at the Wynn delivers the same amount of value today as 5 years ago. While in the same time Steve Wynn figured out new avenues to drive massive profits. So a case could be made for the pay multiplier widening.

I do agree with you that most CEOs are vastly overcompensated for the jobs they do because most are so worried about next quarters GAPP earnings statment they end up being super short sighted and ruining it long term. I donít think itís governents job to police corporate compensation, if shareholders are dumb enough to pay the CEOs these cushy benefit packages itís on them.
Dost thou even hoist
Minty
Minty
Joined: Jan 23, 2015
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happahero
January 27th, 2019 at 8:45:04 PM permalink
I just want to say thank you to all involved for a civil discussion. It's refreshing.
"Just because I'm not doing anything illegal, doesn't mean I won't have to defend myself someday." -Chip Reese
happahero
happahero
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January 27th, 2019 at 8:59:38 PM permalink
Quote: Minty

I just want to say thank you to all involved for a civil discussion. It's refreshing.



I agree, the discourse in this thread puts Washington politicians to shame.
Dost thou even hoist
Minty
Minty
Joined: Jan 23, 2015
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January 27th, 2019 at 9:20:01 PM permalink
Out of curiosity, and I have no idea what most posters ages are here, but have you found yourself growing more conservative financially as the years have gone by, or has it been pretty fixed for you?
"Just because I'm not doing anything illegal, doesn't mean I won't have to defend myself someday." -Chip Reese
rxwine
rxwine
Joined: Feb 28, 2010
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happahero
January 27th, 2019 at 9:30:29 PM permalink
Quote: happahero

One reason the CEO to worker pay gap could be increasing is companies entering into international markets. Take Wynn resorts for example. Steve Wynn had double the headaches and responsibility for expanding his company internationally to Macau. He made shareholders a lot of money expanding there and was compensated accordingly. A local vegas blackjack dealer at the Wynn delivers the same amount of value today as 5 years ago. While in the same time Steve Wynn figured out new avenues to drive massive profits. So a case could be made for the pay multiplier widening.



Wouldn't be better to look at the profit percentage vs. CEO pay. If CEO today brings in 100 times more profit in percent (adjusted for inflation) than a CEO 25 years ago his 100 times increase makes sense. If he didn't produce the equivalent results multiplied his pay has been inflated.
Quasimodo? Does that name ring a bell?
happahero
happahero
Joined: Dec 8, 2011
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January 27th, 2019 at 9:35:01 PM permalink
Omg delete your post, I think we found a new metric that could be worth millions.

Also I feel that compensation packages should have incentives much longer than quarter to quarter or even year to year.
Dost thou even hoist

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