Posted by tangplay on 5/27/2018 5:12:00 PM (view original):
I don't even agree with BL. The reason I said that is because you still managed to lose that argument even though BL had a terrible idea.

How did I lose the argument? That is a subjective statement. I lost it in your opinion and EVERY person on these boards thinks you are an idiot. Including bad luck. Would you please get your head out of your rear end?

Thats like saying I lost the game after two innings. Your dumbassery is off the charts.

Posted by bad_luck on 5/27/2018 5:18:00 PM (view original):

Posted by cccp1014 on 5/27/2018 4:56:00 PM (view original):

Posted by tangplay on 5/27/2018 2:18:00 PM (view original):
lol. CCCP owned yet again.

IDIOT. Every top athlete would establish residence elsewhere. Every top businessman and top actor. OWNED? Jeez if pro life people saw you they d likely change their minds.

Hey, dummy, you know where you earn the money is what matters right? It doesn’t matter if you live in the Caymen Islands if your paychecks are coming from the work you do for the Lakers in Los Angeles.

Yes and more loopholes would be found. Do you not agree? Why do people establish their residences in Monaco?

You may be the dumbest person on these boards.

Posted by cccp1014 on 5/27/2018 7:23:00 PM (view original):

Posted by bad_luck on 5/27/2018 5:22:00 PM (view original):

Posted by cccp1014 on 5/27/2018 4:52:00 PM (view original):

Posted by bad_luck on 5/27/2018 4:49:00 PM (view original):

Posted by bad_luck on 5/27/2018 4:05:00 PM (view original):

Posted by gomiami1972 on 5/27/2018 4:00:00 PM (view original):

Posted by bad_luck on 5/27/2018 1:25:00 PM (view original):

Posted by cccp1014 on 5/27/2018 1:17:00 PM (view original):

Posted by tangplay on 5/27/2018 1:14:00 PM (view original):

Posted by strikeout26 on 5/27/2018 12:16:00 PM (view original):

Posted by tangplay on 5/27/2018 12:02:00 PM (view original):

Posted by strikeout26 on 5/27/2018 12:05:00 AM (view original):

Posted by tangplay on 5/27/2018 12:04:00 AM (view original):

Posted by strikeout26 on 5/26/2018 11:37:00 PM (view original):
https://taxfoundation.org/2017-tax-brackets/

https://www.google.com/amp/s/www.fool.com/amp/taxes/2017/04/27/2017-california-income-tax-what-you-need-to-know.aspx

Right, so the upper limit is 40%. Exactly what I have been saying.

No, because you're ignoring state income taxes.

We have been debating the federal income tax.

Nope, we have been the debating the amount that high income earners pay to the government.

I haven't.

Lets simplify this.

I make $10mil per year. I am taxed at 40%, so I take home $6mil. I give $500k annually to charity. How much more do you want me to pay?

Even if you make a billion dollars a year you don’t actually pay 40%.

But, yeah, I’d be cool with taxing 99% of all taxable income over $10M per year.

So if your taxable income is $11M, your take home in 2018 is $6,344,000.

If you make $12M, you keep $6,354,000.

$13M, $6,364,000. etc.

I find this to be frightening. This takes away all the incentive to be exceptional.

The only upside is that it will put all of the Ivy League and the like out of business.

How does that take away incentive to be exceptional?

?

There is no MSFT of Amazon thats how. Man you are dumb.

So Bill Gates would just not have started a software company in his garage if the marginal tax rate on personal taxable income over $10M was 99%?

What makes you say that?

Bill Gates would not have taken it public. What is the point?

Answer my question. Should Steph Curry be taxed at 99% for 75% of his annual salary? Should he not do any endorsements?

Your idea is NOT capitalism.

I believe Sweden has a 90% tax rate but everything is free in terms of medicine, education and retirement income. The wealthy there move elsewhere and establish their homes there. Monaco, USA, etc.

Your idea is Leftist Lunacy.

Tell me more about Sweden.

How happy are their citizens?

Posted by cccp1014 on 5/27/2018 7:27:00 PM (view original):

Posted by bad_luck on 5/27/2018 5:18:00 PM (view original):

Posted by cccp1014 on 5/27/2018 4:56:00 PM (view original):

Posted by tangplay on 5/27/2018 2:18:00 PM (view original):
lol. CCCP owned yet again.

IDIOT. Every top athlete would establish residence elsewhere. Every top businessman and top actor. OWNED? Jeez if pro life people saw you they d likely change their minds.

Hey, dummy, you know where you earn the money is what matters right? It doesn’t matter if you live in the Caymen Islands if your paychecks are coming from the work you do for the Lakers in Los Angeles.

Yes and more loopholes would be found. Do you not agree? Why do people establish their residences in Monaco?

You may be the dumbest person on these boards.

No, I am.

I will actually answer it for Sweden myself. They rank 9th on the World Happiness Index. Denmark, Finland, Norway at 1 2 3. All are similar to Sweden in tax structure. The USA is 18th.

Posted by tangplay on 5/27/2018 8:57:00 PM (view original):
I will actually answer it for Sweden myself. They rank 9th on the World Happiness Index. Denmark, Finland, Norway at 1 2 3. All are similar to Sweden in tax structure. The USA is 18th.

That's a nice try but the methodology for the "happiness" report is suspect. The UN is promoting a particular viewpoint on what they consider happiness to be. Social support? Perceived corruption (as opposed to actual corruption?) Come on...

Glad to have you on board, gomiami. It's always nice to have some logical thinking for a change.

Wylie has been here.

There are a few here that think before posting, but then you get stupid comments like 99% tax brackets.

Posted by gomiami1972 on 5/27/2018 9:17:00 PM (view original):

Posted by tangplay on 5/27/2018 8:57:00 PM (view original):
I will actually answer it for Sweden myself. They rank 9th on the World Happiness Index. Denmark, Finland, Norway at 1 2 3. All are similar to Sweden in tax structure. The USA is 18th.

That's a nice try but the methodology for the "happiness" report is suspect. The UN is promoting a particular viewpoint on what they consider happiness to be. Social support? Perceived corruption (as opposed to actual corruption?) Come on...

Sure, but it is still a better measure than nothing, right? People in Finland are 'happier' than in the USA or in the Congo.

Posted by strikeout26 on 5/27/2018 9:21:00 PM (view original):
Glad to have you on board, gomiami. It's always nice to have some logical thinking for a change.

Appreciate it. I could probably come up with a set of questions that would catapult Syria to the #1 spot. All data is easily manipulated, especially when circular reasoning is employed from the get-go.

How do you know they're happier? Based on this one report? If they are happier, why are people begging to move to the US?

Posted by gomiami1972 on 5/27/2018 6:15:00 PM (view original):
Sorry, bad_luck, I wasn't ignoring you. By creating a hard cap on income, you create a hard cap on motivation to achieve (for most.) We live in a money economy. Only a saint would continue to reach upward once they reach that $10M level.

Most of us are not saints. What you propose is a great utopian ideal. In reality, it would breed retardation and mediocrity.

It doesn’t create a cap on motivation. $10m is an unbelievably large amount of money. Anyone starting a business would be happy to personally make $10m once, let alone more than $10m annually.

In reality, it would create an incentive to reinvest. We know, for a fact, that cutting upper income tax rates doesn’t encourage owners to reinvest the money back into the business.

But if, for example, you’re a business owner and you project $12m in personal income for a year, you have a choice. You can hang on to the additional $20k and give an extra $1.98m to the feds or you can put that entire $2m back into the company—pay your employees more, buy new equipment, etc. The tax caps the amount large shareholders can extract from the business.

Taxes shouldn't be used for social engineering.