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Radio Shack Killa

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7 hours ago, Army Frog Fan said:

Don't forget to vote today.

 

If voting changed anything, they'd make it illegal.

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Gates versus Warren is interesting.

 

Warren wants a 6% wealth tax and 40% capital gains rate.

 

Using Gates as an example $107 billion in wealth: $107 billion at 6% is a $6.42 billion wealth tax bill. He has to sell $10.7 billion to raise $6.42 billion after capital gains tax (assuming basis is $0). Therefore he would need a 10% return on assets just to break even.

 

Questions: Who is going to buy $10.7 billion of his assets? China? Russia? A 10% market order to sell will drop his overall wealth considerably. Is his wealth calculated before or after he liquidates? What is the value of non-marketable securities and investments? Would he have to pay for a valuation every year to comply with the tax calculation? How much would that cost? At what point does he pack up and move to Puerto Rico?

 

 

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Apparently Donald Trump Jr has written a new book.  In one section, he writes the following about his thoughts while driving past Arlington National Cemetary:

 

"as we drove past the rows of white grave markers, in the gravity of the moment, I had a deep sense of the importance of the presidency and a love of our country ... In that moment, I also thought of all the attacks we'd already suffered as a family, and about all the sacrifices we'd have to make to help my father succeed"

 

...so there's that.

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It is true that the PDT and DTJr are leading the way with the most death threats, but since I am so anti-state I am not sure I could ever be convinced that it would be worth it...

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On 11/7/2019 at 6:36 PM, Rothbardian said:

Gates versus Warren is interesting.

 

Warren wants a 6% wealth tax and 40% capital gains rate.

 

Using Gates as an example $107 billion in wealth: $107 billion at 6% is a $6.42 billion wealth tax bill. He has to sell $10.7 billion to raise $6.42 billion after capital gains tax (assuming basis is $0). Therefore he would need a 10% return on assets just to break even.

 

Questions: Who is going to buy $10.7 billion of his assets? China? Russia? A 10% market order to sell will drop his overall wealth considerably. Is his wealth calculated before or after he liquidates? What is the value of non-marketable securities and investments? Would he have to pay for a valuation every year to comply with the tax calculation? How much would that cost? At what point does he pack up and move to Puerto Rico?

 

 

 

 

The good thing is he gets to do it all again next year...and the next...and the next, until there are no more uber-wealthy to pay for everything.

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On 11/7/2019 at 6:36 PM, Rothbardian said:

At what point does he pack up and move to Puerto Rico?


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11 hours ago, Rothbardian said:

 

 

“The mainlanders who have relocatedare not quite Forbes-list billionaires, who have access to more complex tax strategies than leaving town; they belong to the middle class of the ultra-rich. They are new-money people who might not have their congressman's cell-phone number back home but who wield influence here in Puerto Rico.”

 

 

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5 hours ago, Lyle Lanley II said:

So do they drive, like, really nice minivans?

 

They buy islands like this:

 

lone-palm-tree-on-small-island-picture-i

 

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Citizens of PR do not pay federal income tax and if you qualify you do not have to pay capital gains tax in PR either.

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3 hours ago, Rothbardian said:

Citizens of PR do not pay federal income tax and if you qualify you do not have to pay capital gains tax in PR either.

Odd PR isn't the richest place on Earth, then. 

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9 hours ago, NewfoundlandFreeFrog said:

Odd PR isn't the richest place on Earth, then. 

 

The Northeast coast is very affluent. It also takes time...

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It's so clear that Kent and Taylor are dedicated public servants with nothing to gain personally. They obviously have US public interests at heart and in the case of Ambassador Taylor, he has been very worried about the people of Ukraine. The Republicans have to be very careful about going after these men.

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31 minutes ago, PurpleDawg said:

It's so clear that Kent and Taylor are dedicated public servants with nothing to gain personally. They obviously have US public interests at heart and in the case of Ambassador Taylor, he has been very worried about the people of Ukraine. The Republicans have to be very careful about going after these men.

 

Is this the whole quid pro quo thing? You'll have to bring me up to speed...

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29 minutes ago, PurpleDawg said:

It's so clear that Kent and Taylor are dedicated public servants with nothing to gain personally. They obviously have US public interests at heart and in the case of Ambassador Taylor, he has been very worried about the people of Ukraine. The Republicans have to be very careful about going after these men.

Well, from what I have read, their best case for impeachment amounts to "I heard from someone, that heard from someone else, that Trump cares more about the Bidens than Ukraine."  But, setting aside (a) the double-hearsay, (b) the issue of whether the double hearsay was the opinion of the speaker, and (c) whether what was said is the exact quote uttered or a telephone-game style remembrance, Trump caring more about the Bidens than Ukraine isn't a crime.  I care about a lot of things more than I care about Ukraine.

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My fear is that all this talk about impeachment actually improves his reelection probabilities...I'm sure it plays well in both camps and probably cancels each other out.

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Yeah the Democrats should heed the warning sign of the Republicans' push to impeach Clinton in '99.  It backfired on them so bad, they won the next two elections.

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5 minutes ago, Lyle Lanley II said:

Yeah the Democrats should heed the warning sign of the Republicans' push to impeach Clinton in '99.  It backfired on them so bad, they won the next two elections.

 

Agree.  The problem is that much of their base and the far left part of Congress were so convinced that the Mueller report was going to be their impeachment smoking gun.  They railed on for 2 years about impeaching Trump due to Russian interference.  When that landed with a dull thud, they were on to new impeachment grounds in a matter of weeks.  I just don't think this plays well in the swing states, but I certainly could be wrong. 

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Yeah, although - even if the Democrats end up failing to produce conviction-level evidence, we've clearly seen that Trump is not a leader and not a conservative.  It mystifies me that so many on the right treat him like a god.

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17 minutes ago, Rothbardian said:

Is it worse for the Democrat's base if they don't go for impeachment?

 

Great point.  With the low-energy bunch in their current clown-car of candidates, they really need to portray Trump as a boogey-man to sufficiently motivate & potentially expand their base this cycle.

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5 hours ago, Lyle Lanley II said:

Yeah, although - even if the Democrats end up failing to produce conviction-level evidence, we've clearly seen that Trump is not a leader and not a conservative.  It mystifies me that so many on the right treat him like a 

 

I disagree.  He has governed as a deeply social conservative and has been more effective at a "small government" dismantling of bureaucracy  than any president of the modern era.  It is true that he has made no pretense to be a fiscal conservative but no modern Repubican president has either ... he just doesn't pretend to be otherwise.

 

 

1 hour ago, Lyle Lanley II said:

 

Great point.  With the low-energy bunch in their current clown-car of candidates, they really need to portray Trump as a boogey-man to sufficiently motivate & potentially expand their base this cycle.

 

I dont think they have to do much selling.  Trump is more than happy to keep the lefty base motivated. "Owning the Libs" is his raison d'etre.  That, and self-dealing.

 

Put me in the camp that there are about 20 reasons why Trump should be impeached and removed from office.  The Ukraine business is just the most straight forward and easily provable reason. 

 

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46 minutes ago, Duquesne Frog said:

 

I disagree.  He has governed as a deeply social conservative and has been more effective at a "small government" dismantling of bureaucracy  than any president of the modern era.  It is true that he has made no pretense to be a fiscal conservative but no modern Repubican president has either ... he just doesn't pretend to be otherwise.

 

 

Not even close. We've broken through the $4 trillion mark under Trump...He loves the State as have them all. To say he's been more effective is like saying he's the biggest loser...which he is BTW.

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