Jump to content
Radio Shack Killa

God save us....

Recommended Posts

7 hours ago, Army Frog Fan said:

Don't forget to vote today.

 

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

  • Like (+1) 1

Share this post


Link to post
Share on other sites

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?

 

 

  • Upvote (+1) 1

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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...

Share this post


Link to post
Share on other sites
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.

  • Upvote (+1) 1

Share this post


Link to post
Share on other sites
On 11/7/2019 at 6:36 PM, Rothbardian said:

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


89BB91474D4746398C14.gif

Share this post


Link to post
Share on other sites
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.”

 

 

Share this post


Link to post
Share on other sites
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

 

  • Upvote (+1) 1

Share this post


Link to post
Share on other sites

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.

  • Like (+1) 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...