Archived posting to the Leica Users Group, 2011/10/16
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Le 17 oct. 11 ? 07:06, Jayanand Govindaraj a ?crit : > Robert, > They are strictly not comparable. Rich people pay 22% average tax on > their income, because most of their income tends to Capital Gains > and Dividends. Dividend comes out of income where corporate tax has > already been paid, so the effective tax rate charged on that income > is really much higher. With a difference betwen S and C companies if I'm not mistaken - and reserved to American citizens or residents alone ... Well, who am I to ... :-) Amiti?s Philippe > Capital Gains are taxed at a lower rate of tax the world over, for > reasons of encouraging capital formation, it is nothing unusual or > specific to the USA. The earned income exemption to hedge fund > managers, on the other hand, is unique to the USA, and a telling > reminder of the power of money in campaign politics. Just like your > (IMHO idiotic) tort laws distort medical costs for every citizen, > this exemption tends to distort the tax revenue of the country. > Cheers > Jayanand > > Sent from my iPad > > On Oct 17, 2011, at 6:52 AM, Robert Meier <robertmeier at usjet.net> > wrote: > >> "Who pays taxes at a lower rate?" Warren Buffet paid 17% last >> year, not the highest rate of 35%. A survey found that the average >> was around 20% for high income taxpayers. Hedge fund managers, of >> course, pay the 15% capital gains rate rather than the 35% earned >> income rate. >> >> Robert >> >> On Oct 16, 2011, at 7:45 PM, Ken Carney wrote: >> >>> Robert, >>> >>> Which "news"? If I got my information from TV or even the >>> recently discredited WSJ, I would not have a complete view. With >>> regard to Warren Buffet, I think a confiscation of income over, >>> say, $1 million would accomplish nothing. I stand to be >>> corrected. As always. >>> >>> Best, >>> >>> Ken >>> >>> On 10/16/2011 7:25 PM, Robert Meier wrote: >>>> Ken, >>>> >>>> "The Buffet Rule:" Haven't you been following the news? >>>> >>>> Robert >>>> >>>> On Oct 16, 2011, at 7:16 PM, Ken Carney wrote: >>>> >>>>> On 10/16/2011 6:33 PM, George Lottermoser wrote: >>>>>> On Oct 16, 2011, at 6:07 PM, Ken Carney<kcarney1 at cox.net> wrote: >>>>>> >>>>>>> Wonder how all these occupiers were able to get off work for >>>>>>> so long? >>>>>> Many of the Milwaukee "Occupiers" (a one Saturday event) were >>>>>> "laid off" or otherwise unemployed; part of that 9.1% as well >>>>>> as the 99%. I spoke with quite a few degreed professionals with >>>>>> 20 plus year professional careers who have been unable to find >>>>>> "any" work for 4 to 12 months. Others have been forced into >>>>>> early retirement. Others are serious students who can no longer >>>>>> finance their educations; or find employment. The stories are >>>>>> many and sad. Minorities in Milwaukee have more than 4 times >>>>>> that 9% unemployment rate. And those rates do not include the >>>>>> people who have simply given up on the prospect of finding work. >>>>>> >>>>>> Regards, George >>>>>> >>>>>> _______________________________________________ >>>>>> Leica Users Group. >>>>>> See http://leica-users.org/mailman/listinfo/lug for more >>>>>> information >>>>>> >>>>> I hear you. It also relates to Richard's comments about >>>>> corporations hoarding cash and banks not lending...the reason is >>>>> that there aren't as many opportunities for investment now. The >>>>> reverse, actually. The question is, what can our government do >>>>> about it? The government doesn't create jobs, except in a >>>>> temporary and largely wasteful sense. Large CEO salaries and >>>>> taxes on the rich are irrelevant - the most draconian measures >>>>> would not put a small dent in the debt. What is needed, IMHO, >>>>> is competent fiscal administration, something not present now >>>>> (IMHO). I have now escalated into a rant, which needs at least >>>>> a couple of constructive suggestions. As a tax adviser, I will >>>>> probably be excommunicated for this one, but I think the current >>>>> policies regarding transfer of intangible assets offshore should >>>>> be revisited (Google, Cisco et al.). All that is happening >>>>> there is that the income escaping U.S. tax must be reinvested in >>>>> another offshore business, else it will b > ecome income subject to U.S. tax. So, the U.S. tax break is > building industries and infrastructure in other countries. A U.S. > citizen is taxable on worldwide income, now matter where earned. > Why should it be different for a corporate business? A second > suggestion is to stop U.S. military intervention in hopeless causes, > e.g., Afghanistan. OK, a third bonus suggestion would be some way > to eliminate federal pork spending, a lost cause I know. >>>>> >>>>> Lastly, I have numerous clients who have taxable income in >>>>> excess of $1 million. They all pay taxes at the highest rate. >>>>> They are also usually high charitable givers. Who pays taxes at >>>>> a lower rate? Two instances come to mind. One is the risk >>>>> taker who is able to take a deduction for intangible drilling >>>>> costs in the exploration for oil and natural gas, and that is a >>>>> temporary thing. The other is someone who has bitten on a tax >>>>> shelter, with blowback potential that will greatly exceed the >>>>> temporary tax savings. EOR! >>>>> >>>>> Ken >>>>> >>>>> >>>>> _______________________________________________ >>>>> Leica Users Group. >>>>> See http://leica-users.org/mailman/listinfo/lug for more >>>>> information >>>> >>>> >>>> _______________________________________________ >>>> Leica Users Group. >>>> See http://leica-users.org/mailman/listinfo/lug for more >>>> information >>>> >>> >>> >>> _______________________________________________ >>> Leica Users Group. >>> See http://leica-users.org/mailman/listinfo/lug for more information >> >> >> _______________________________________________ >> Leica Users Group. >> See http://leica-users.org/mailman/listinfo/lug for more information > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information