Gump

16 minutes ago, drc32-0 said:

As I said in my previous post...when they start burying their kids I'll listen to their sacrifice.Money compared to kids is truely rediculous.

That's a stretch reply based on BS again. The rich do pay more dollars and a higher tax bracket. What more do you want? Under $40,000 with kids you're paying basically nothing. 

2 hours ago, Lawrence1 said:

@Bubba,

 I commend and admire your hard work but you're not distorting any of the above the way the super-rich do. You really think you identify with them because you've amassed a few million in wealth? LMAO Your words were nothing but a braggarts post.

 Typical fake conservative, they tout free markets but protect and exploit just about any market distorting loophole if the money's right.

 I don't think he will, but wait till your boy Trump releases his tax returns. We're going to learn a whole lot more of these tax tricks of the super rich that no one on this board can take advantage of. Legal or not, a billionaire should not be able to pay a lower tax rate then his secretary.

Site your sources where the secretary paid more $ or a higher tax rate and what type of tax.

31 minutes ago, drc32-0 said:

There's another reason I think the rich should be taxed harder...they don't fight our wars.The poor and workng class fight the wars that protect the rich folks assets.Until the rich start serving and filling some body bags they should pay more for the protection of our country.They want to talk about sacrifice...I'll start listening when they bury their kids like over 6000 poor and working class families have done since 9/11.

They do pay more! Ridiculous 

1 hour ago, ScubaCinci said:

Both candidates should be thrown in the river and we should start over.

Hillary cracks me up...rich  people should pay their "fair share". Huh. What about the 45% of people who pay zero taxes (most of whom suckle a the teet of those that do so they take but don't give). Are they paying their fair share? Socialism here we come.

I get pissed off just reading those words F.S... It's not that I enjoy paying taxes so much, it's that she's touting it as a real friggin topic and people believe it. 

1 hour ago, jbot said:

Oooohhhhhh nice idea. I did put in an order for a cz scorpion. 

 

Let us know how you like it! 

Where's the Olympic thread? 

Anyways, Germany's Ludwig is hawt! 

2 minutes ago, motocat12 said:

Corporate inversions it;s all the rage. Burger King is no longer US based. (10 nuggets for  $1.49) 

Selecting a country with lower tax rates. Shocker. Don't tax the crap out of the US companies and maybe it wouldn't happen.

42 minutes ago, Lawrence1 said:

Been busy gumpy boy moving my youngest son over to Ohio State today. This information has been out there for years but since you need spoonfed here you go;

 

How The Super Rich Avoid Paying Taxes

If you're one of the 1% of Americans who control over 40% of the country's wealth, life is full of choices. Among them -- how best to keep all that money away from the government? The U.S. economic system offers no shortage of loopholes allowing the ultra-rich to shortchange Uncle Sam.

Tax rates for those making >$1 million level out at 24%, then declines for those making >$1.5 million. Those making $10 million a year pay an average income tax rate of 19%. $70-$100 billion is the estimated tax revenue lost each year due to loopholes. So how exactly do the super rich hide that much money from the government every year?

1. Put It in the Freezer

• Trust Freezing: A way to transfer valuable assets to others (such as your children) while avoiding the federal estate tax.
• "Freeze" the value of assets many years before you plan to pass them on to exclude all asset appreciation from the estate, and any taxes.
• Popular method: Trade common for preferred stock.
• Problem: If you sell your common stock you might owe a large amount of capital gains tax.
• Solution: Trade your common stock for preferred stock, then put some of the preferred stock in a trust and live off the dividends.

2. Send It Overseas

• Tax havens: Registering your business or putting your money in an account in another country with lower taxes.
• ~$21 trillion is being hidden in offshore tax havens.
• David Bowie, U2 and the Rolling Stones have all benefited from tax havens at one time or another.
• Popular cash hideout: The Cayman Islands, home to >85,000 companies -- making it home to more registered organizations than people.

3. Stock It Up in Options

• By taking part of your compensation in stock options you can control when and if you pay taxes, since most options are only taxed when they are exercised.
• Execs who have opted for options: Howard Schultz (Starbucks), Fred Smith (FedEx), William Weldon (Johnson & Johnson) and many others.

4. Play Shell Games with It

• Shell company: A type of company that only exists on paper, allowing you to funnel money through it and avoid paying taxes.
• Has a legal existence but typically provides few or no actual products or services.
• Often used for buying and selling to avoid reporting international operations conducted, and avoid taxes on the profits.
• Shady business: Mitt Romney caught some flak for allegedly using a shell company in Bermuda to avoid taxes.

5. Swap It Out

• Equity swap: An agreement that allows 2 parties to exchange the gain and loss of assets without actually transferring ownership.
• The swap avoids transaction costs, and typically, local taxes on dividends.

6. Play Dodgeball with It

• Capital gains tax: A tax on the profits from a sale of non-inventory assets originally purchased for a lesser amount, such as stocks, bonds, property or precious metals.
• Popular loophole: Purchasing stock options, which sets the share price at a fixed rate, then borrowing money from an investment bank using the shares as collateral.
• The borrower then repays the loan either with money made with the money borrowed or by handing over the shares, avoiding the capital gains tax.

7. Go Corporate with It

• Problem: being in a higher income tax bracket has less tax advantages than being a corporation.
• Solution: You can incorporate your own personal brand, which allows you to: 1. Channel wages through a nominal "corporation"; 2. Pay yourself an interest-free wage; 3. Claim expenses; 4. Reduce your income taxes.
• Mitt Romney claimed the management fee of his corporation as a capital gain rather than income, reducing his tax rate significantly.

8. Kick It Down the Road

• You can put part of your payday in a deferred-compensation plan, instead of taking it all at once.
• This allows your earnings to continue growing tax-deferred for +10 years.
• 79% of CEOs at Fortune 100 companies were offered deferred compensation plans.

9. Give It Away

• Gift-giving and charitable donations are a real win-win: Avoid taxes and look and feel good doing it!
• Gifts to anyone of up to $13,000 are tax-excluded, with an unlimited exclusion for gifts given to a spouse.
• Allows you to circulate cash within the family as "gifts" while writing it off.
• Popular donation tactic: Deduct the fair market value of a donated item from your tax liability.
• Example: 1. Buy a sculpture for $1,000; 2. Have it appraised at $10,000 some years later; 3. Donate it and deduct the $10,000 from that year's taxable income.Score!

10. Make It Luxurious

• Owning a yacht or multiple homes aren't just status symbols -- they offer tax benefits as well!
• Popular earner: Claim your "second home"
• Spend at least 2 weeks of the year on your yacht, outfit it like a home, and categorize it as a second home for tax purposes.
• If the home's value appreciates over time, the profits from selling it can be considered capital gains and taxed at a lower rate than salary or other investment income.
• A second home can be rented for up to 2 weeks a year without requiring the owner to claim the rent as income 

BTW, I seen the thread "The stupid shit gump does", it reads like an episode of Jackass.

You ever seen Deliverance?

Pfft....Nothing wrong with any of those except loyalty to country for #2. Any of us can do the same things. So I don't know how exactly the Corporations or top earners are doing anything someone else can't. No idea where there 24% came from.

1. Capital gains tax is BS to begin with. Why wouldn't you?

3. very common

4. I have one

5. This is done all the time.

6.Who wouldn't

8. No brainer

9. Really? You worked all your life and want to gift something to your children. Screw gift tax, estate tax and capital gains. It's $14,000 annually now by the way. I don't know who would support this or have an issue finding legal ways to get it around it. They say it was designed to keep the rich from getting richer but it's imply a revenue generator like paying taxes when buying a used car.

10. O wow! you can rent it for two weeks and not claim it as income, Holy smokes! What a loophole.

IMO, you have to be smart enough to take advantage of it. And the fact is high earners and corporations pay a shit ton of taxes. That whole article can kiss my ass. 

Not one mention of "how" corporations are actually cheating on taxes with loop holes. Not a damn one. Just fear that they are. Friggin myth.

I agree gubment needs to go thru a Lean Kaizen. Let me teach it, I'll cut the spending by a guaranteed 25% but I'll also have to suggest firing a bunch of unneeded employees and then the OMG we need jobs crew will start in. Gubment doesn't want to be efficient because the gubment is the people and people are greedy. 

8 hours ago, Lawrence1 said:

Shhhh drc, they'd like to keep that hush hush. Let us divert our attention to attacking those on the bottom rung. It just feels better going after the lowest fruit on the vine. Those single mothers getting that big refund check, let'em starve.

You'd have to be a corporate tax lawyer to the elite to answer Gumps second paragraph.

Hillary's ad is spot on, but hate on haters. 

Haters for the jackass Trump 2016!

Spot on? State some facts honey.

Watching Men's volleyball sucks compared to women's. Shouldn't the dudes wear speedos and go topless. 

or Hillary is leading by 12% in the polls.

42 minutes ago, 2talltim said:

I find it curious that she's always seems to leading the poles yet of the hundreds of people I know personally there is only maybe three that I know are supporting her. And as I drive around I see trump signs all over the place and seen maybe 2 Hillary signs.

Someone from the social security administration/ high up gubment worker was just telling me that the % of democrats and the % of republicans polled equaled exactly how they voted in the pole and the same for the results posted and it's a stacked deck. Sooo 57 democrats and 50 republicans poled, equals 57% Hillary and 50% trump.

1 hour ago, Isaac's Papa said:

Did she train a lot? She's an Olympic power lifter coming home with jewelry. 

Are you still drunk? 

Sarah Robles was sanctioned by the International Weightlifting Federation for two years, until August 8, 2015, after WADA found her in-competition test at the Pan Am games positive for DHEA, testosterone and pregnanediol.

Cheating whore! this explains the odd physique.

26 minutes ago, bowdog said:

Anyone else see the article that said each Gold medal winner will be responsible for $9,900 in taxes for each gold medal they won at the games? I understand some of these athletes are millionaires but there are many that are not... @Gump I think the rich people should have to pay for this!

A rich person swayed a rich Olympic people comittee into thinking they need their fancy medals, then the rich person sold it to whoever's in charge of buying Olympic medals and they paid for it with taxes, I think, then people who won medals get taxed on it, while the rich person gets taxed on the profits but they can claim a lot of exemptions for labor to make the medal, so they can pay the person who made it. The athletes need to pay for it, all that running around playing games all day for free is BS.

4 minutes ago, Bubba said:

@Gump No, no...you got it all wrong. You're thinking like a white man. Not having to take accountability for your own actions or your own well-being means you're entitled to free stuff. To note:

"It's sad because you know, this what happened because they not helping the black community. Like, you know, the rich people, they got all this money, and they not like trying to give us none."

http://www.dailywire.com/news/8361/watch-rioter-tells-reporter-rich-people-they-got-chase-stephens

I'd like to think the media is like the Jerry Springer show anymore.  Finding the best of the worst and using it to create drama and a story based on BS because facts are not entertaining. Hopefully most people are not like this jerk off.

12 hours ago, Tonik said:

That woman could snap you in two like a twig.

Agree and there's some genetics going on there but really did she actually train a lot? If so, I find her physique fascinating.

1 minute ago, Wojo72 said:

Gump.  You are going to get me all fired up first thing.   Allt hat I am going to say is that the Free Shit Army is taking over this country.  Makes me insane every time I look at the tax portion of my paycheck and then I hear that I should be paying more.

The free shit army is being misled for votes. They drive this ignorant, false, "hate" the successful person/business mentality.  I've never looked at someone rich or better off than me and thought damn he/she should give back so I can have more. What I think about is what are they doing right, so I can copy it and be more successful.   

The ad that states she wants to make those at the top pay their fair share of taxes then penalize companies who move operation over seas. Is it one topic or two..

I get furious every time I hear this ad. Define fair share you misleading, propaganda spewing, ignorance catering, vote snatching bitch. Tell me exactly what taxes they are not paying because I want to know!? What loop holes are the ultra rich or profitable companies taking advantage of?

Why should companies or people pay a higher percentage then someone who pays nothing or a tiny %!  You want to tax the profitable more yet are upset they move overseas.  

14 hours ago, Idiot said:

Life would kinda suck as a weak fat person...  you wouldn't be able to move yourself

I get that, you're stronger than a skinny person due to carrying weight around but did you train for a whole week before the olympics? 

Fixed, no, not drunk, yet.

17 minutes ago, Idiot said:

Life would kinda suck as a weak fat person...  you wouldn't be able to move yourself

I get that, you're stronger that a skinny person due carrying weight around but did you train for a whole week before the olympics? 

Sarah Robles wins Bronze in dead lift. How can you be so fat and still strong. I don't believe in strong fat people. 

Are a quart of blueberries and a half a gallon of grape juice. Can't wait to see what my Pee looks like

Watching the women's marathon this morning. Is anyone else waiting to see someone stumble then get ran over by a motorcycle and the camera guy do a front flip? 

11 hours ago, Isaac's Papa said:

We're on our third Outback. Lyns refuses to even consider driving anything but a Subaru. 

Mines still for sale. Really was a rock solid vehicle for me. It never failed me.  wink wink, i'll throw in a old chain saw.