9 Things The Rich Don't Want You To Know About Taxes

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It depends on what i could afford, based on how it would affect quality. ^.- I'd gladly pay 2000$ as long as it doesn't jeopardize my survival and that there's enough transparency involved so that i can SEE what i'm paying for.

We're not talking dodgy, non-reputable banana republic countries here. We're talking countries that are near your original base of operations, are fully paid up members of reputable organisations and are noted for their speed and efficiency.

What if, all things considered, it actually made sense to jump? That's what I am trying to get at. All your friends that have taken the cheaper guy up on your offer have said how positive it has been for them, while the more expensive guy is bellyaching about putting his price up even further.

I know where my money would go.

Reagan & Iron Maggie were seduced by the dark side of economic theory.
Supply-side economics + laissez-faire state intervention of corporations = the f*****g global economical mess we're in now
Supply-side economics is like chucking a snowball down a snow coved mountain, you need of keep an eye on the snowball to stop an avalanche. Being laissez-faire is just like turning your back to the snowball. So now we had the avalanche!!

Sak I agree with you mate about the rich's attitude towards tax. Both indirect & direct taxes are at play in an economy. Over here back in the 90s there was a big woah about "taxation by stealth". The biggest avoider & cheater of the tax system is the legal person called the corporation as they can afford the best accounting minds to advise on the ways of tax systems.

That was true when we had a 90% maximum rate, and when we had a 70% maximum tax rate.

We don't have that anymore, and no one is suggesting we return to that.

Raising the maximum federal income tax rate from 35% to 38% is only a shrug. Willingly paid if they think it will be reasonably spent. I do taxes for quite a few of these people. I know what they say and what they think. As I posted earlier, just yesterday one of my clients was telling me that it was time to raise taxes! On HIM. He knew who would pay it.

Of course, that is here, CA / USA, and not where you are. I don't know what your tax rates are. Our current max is 35%. Not that high. The article was, of course, about the US system.

Just read an article today about the irony of underfunded schools in Silicon Valley. The families there are well off and WANT well funded schools. They can SEE what this mantra of never raising taxes has done: it's robbing their own children of a chance at a decent public school education. You've got one heck of a lot of rich people admitting it's time to raise their taxes. It's really interesting how many people want to advocate on their behalf but are unable to see what they see.

Demand side economics: All the people have to do is demand goodies and they will magically appear out of nowhere.


All economics is supply side. To have an end product or service to use/consume it first must be produced. That is the supply side.

ruveyn

No its not, that statement only points to one thing, that you know sweet FA about economics. Basic knowledge of market forces well tell you that you need both supply & demand in a market.

How can there be any product or service if it is not produced in the first place?

Do you think wishing for a hamburger will produce a hamburger for you to eat? No it won't. you have to get the material for the hamburger and provide the labor that transforms the material into the final product. That is supply. Without supply demand is futile.

ruveyn

Without demand supplying any product or service is futile.

Just because there is a product doesn't mean it will sell or be profitable. This risk of lack of sales increases as you have less and less of a buying public.

It's very different for those of us in the UK. Taxes in the UK are much higher, funnelled to all kinds of useless state pet-projects. Not as high as in the Nordic countries, granted, but still pretty high.

Are you basing that on direct taxes (eg Income Tax, NI, Corporation Tax & etc.) as the indirect taxes (VAT, Excise Duties & etc.) do a have an impact too. Theres too many f*****g taxes in this country to keep track off.

All of them.

LOL. The only way to keep the government accountable is creating another bureaucracy which is even slower and inefficient. Not to mention it wastes even more money and sets up the endless cycle of a bureaucracy holding another bureaucracy accountable. They have no incentives to spend your money efficiently and you can't ask em for a paper trail so you have no way of knowing where exactly your money is being poured into nor do you have any idea how much. Hell even if you could ask for a paper trial, it would be a huge bureaucratic pain in the ass to sort out.

Likewise making charity out to be vastly inferior to the government makes you sound like far left loony. And I'm against granting tax breaks for those who donate to charity. Donating to charity is supposed to be done out of intrinsic motivation, not as a way of reaping extrinsic rewards. You are giving absolutely no credit to private charity and you seem to not see any flaws with having the government handle it. btw I'm not from the US, I'm the neighbour up north.

Exactly, the victim mentality is BS.

If the rich disapeared as a group it would be no skin off my nose.
I have no personal interest in defending their class.
it has nothing to do with envy or taking the attitude of a victim.

If the status quo does not suit me it would be irrational for me to support it
just because the weathy might start crying if things changed.

If you really want to see how the rich avoid paying their share of taxes take a look at bloomberg businessweek from a couple of weeks ago...front page story of the top 10 methods/ways the top earners avoid paying taxes on wealth they make.

You do realize the overwhelming majority of the wealthy in this country didn't start out wealthy, further most of the wealthy in this country got there by working hard and being fiscally disciplined, and many of those are retirees. So you saying we should rob grandma and grandpa because the lunatics in Government are so incompetitent they can't balance their budget.

Additionally hiking taxes will hurt small businesses, because small business owners file taxes as individuals not corporations.