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7,000 Millionaires Paid No Income Taxes In 2011

Hits: 4839 | Rating: (2.8) | Category: News & Politics | Added by: Crabes
Page: 1 2 Next >   Jump to: Bottom    Last Post
DromEd
Male, 40-49, Eastern US
 1512 Posts
Wednesday, September 19, 2012 7:17:38 PM
VP, try again after you've taken a remedial writing class.

VirtualParty
Male, 18-29, Eastern US
 794 Posts
Wednesday, September 19, 2012 6:48:30 PM
Drom please take your head out of your ass. Your on the defensive because you feel superiority. Zira is just trying to explain some logical things to you which you plug your ears to.

DromEd
Male, 40-49, Eastern US
 1512 Posts
Wednesday, September 19, 2012 5:03:46 PM
Oh yeah, I just remembered the private school I went to grades 9-12 was the beneficiary of duPont money as well. As I recall the man matched every dollar the school raised via donations and tuition. When he died the school died with him. That bastard!

5Cats
Male, 50-59, Canada
 24198 Posts
Wednesday, September 19, 2012 4:49:34 PM
Funny, CNN says It's 4,000 in another IAB submission. It's almost as if they were just making stuff up...

@QueenZira: @DromEd has you totally pegged! LOLZ!

QueenZira
Female, 18-29, Midwest US
 2181 Posts
Wednesday, September 19, 2012 4:06:04 PM
Drom you've made no substantial points.


The RW fantasy world you live in just has not ever been real, it is not real today, and it will never be real in the future.

DromEd
Male, 40-49, Eastern US
 1512 Posts
Wednesday, September 19, 2012 4:04:06 PM
Class warfare? I said, class envy.

Where did I say I mind giving back to society? I pay my taxes and I donate to charity.

Face it. You rambled off a bunch of twaddle, I called you on it, knocked your whole post out of the park and now you feel stupid. Go with the feeling.

QueenZira
Female, 18-29, Midwest US
 2181 Posts
Wednesday, September 19, 2012 3:56:08 PM
"Community Donations"-also known as taxation. If you don't like being part of a society or giving back something to the society that allowed you to get as far as you have and give someone else the same shot you had, in short if you can't handle your responsibility as a citizen, then move out into the woods in your own self built log cabin, make your own clothing, hunt your own food, build your own indoor plumbing and die alone. Otherwise...you know...Communism.

And furthermore, Americans on the whole don't really envy anyone their just due, we just get angry when someone else rigs the system to their own advantage.

And another thing, why is it only called "class warfare" when the rest of us fight back?

DromEd
Male, 40-49, Eastern US
 1512 Posts
Wednesday, September 19, 2012 3:55:52 PM
Oh yes I almost forgot. Sometimes the rich build the public schools too. Like 89 of them built in the 20's that vastly improved education for blacks in Delaware.

DromEd
Male, 40-49, Eastern US
 1512 Posts
Wednesday, September 19, 2012 3:42:13 PM
QueenZira you funny. Class envy much.

Let's see...the rich use the roads. Yep they do. And sometimes like where I'm from (Delaware) the rich also build the roads. Rt 13 is the DuPont Highway. You see this rich guy came up with this idea for a new type of road that became the template for the first modern highway in the world. He also spent a lot of his own money in the process.

Where I'm from public schools are paid for via property taxes. So if you own property you're paying regardless of weather you have kids or not.

Where I'm from the fire department is funded via donations from the community.

Public transportation is a user pays as they go sort of deal so yes a rich man has to pay to ride the bus. But let's face it. Are rich people really taking the bus or the tube?

And are you really saying that rich people don't deserve police protection?






5Cats
Male, 50-59, Canada
 24198 Posts
Wednesday, September 19, 2012 3:13:54 PM
@chance13: I see he's mentioned the "forensic audit" factor! I agree with him!

Face Facts: These "7,000 millionaires" didn't DO THEIR OWN TAXES on the kitchen table one weekend! They have WHOLE TEAMS of accountants to do it! Not likely to make a huge mistake that could land their butts in jail, eh? MUCH MORE likely they filled them out as 100% accurately as humanly possible.

5Cats
Male, 50-59, Canada
 24198 Posts
Wednesday, September 19, 2012 3:09:23 PM
Mitt Romney is a tax cheat.

@madest + dead horse = repeat every post.

"1 CPA per 3.5 cases"
Where did you get that figure from?


A fair question @Musuko42: These would require "forensic audits" which take months if not a year each. Thus the 7,000 cases would ADD enormously to the IRS's workload.
History has shown that these in-depth audit produce little IF ANY added income: in fact they tend to find tax savings as often as tax cheatings.
It's a fact.
If it "earned tons of income" don't you think the IRS would do it WAY more often? Eh?

CrakrJak
Male, 40-49, Midwest US
 16740 Posts
Wednesday, September 19, 2012 2:50:32 PM
chalket: Hardly, Madest here is the absolute king of making sh|t up.

I don't have to make anything up, just use some truth, reason and math. Madest just let's the BS fly, regardless of whether it makes him look like a fool or not.

SmagBoy1
Male, 40-49, Southern US
 4066 Posts
Wednesday, September 19, 2012 2:28:05 PM
Regardless of the numbers you follow, regardless of these people's status (income or no, whatever), it's clear that Romney's claim that 47% of the country, Obama voters, all mooching leeches out to milk dry the hardworking Republicans who are the only people in the country who pay taxes, is so much crapola.

TheGuySmiley
Male, 18-29, Canada
 1222 Posts
Wednesday, September 19, 2012 2:26:18 PM
this is why the love for money is destroying that nation. greed at it's best. It's happening everywhere too.. thats why the greedy lovers of money don't make good leaders.

madest
Male, 40-49, Eastern US
 6456 Posts
Wednesday, September 19, 2012 1:39:30 PM
Mitt Romney is a tax cheat. You can take that to the bank. He's probably committed voter fraud as well and is why he'd rather throw billionaire investors money away than expose his scheming existence. He's the problem, people like him. Rich, greedy, douchebags who put money before country. His fortune was made ruining lives. If I was a god fearing man I'd think Mitt was Satan. Jesus's head would explode over this guy. Clearly he has some people fooled. How I'll never understand.

QueenZira
Female, 18-29, Midwest US
 2181 Posts
Wednesday, September 19, 2012 1:28:06 PM
Andy, the rich use roads, bridges, and public transportation the rest of us paid for. They also avail themselves of police, fire, and emergency services the rest of us paid for. And they send their children to public schools to be educated in that the rest of us paid for. But now they refuse to pay for these just like the rest of us?

Not to mention the government largesse they're receiving here in this particular moment is the luxury of not pulling their weight becuase they're supposed to be "creating jobs". Where are these elusive jobs? Where have they been for this entire financial meltdown?

No private entity is ever going to buy something of public benefit if it doesn't fulfill their bottom line in some way. There would never be a nat'l highway system or the Hoover dam in this universe.

And please, knock it off w/ the Commie crap. No one is saying or even remotely implying something so radical is the solution.

Andrew155
Male, 18-29, Eastern US
 2564 Posts
Wednesday, September 19, 2012 1:07:47 PM
Most of these people don't have jobs....they just live off the money they made, or inherited. It's that simple, and there's nothing wrong with that.

"Oh why is there nothing wrong with that?", you may ask. Well, since they are rich they are self-sufficient (if not, they should be), so they are, for practical purposes, independent of government support. Thus, they are not a drain on anything. Moreover, since they are fracking rich, they spend A LOT. This is very good and it creates jobs. Finally, they still pay Property taxes and Sales tax. So..............this is really dumb. I mean, for real.

I guess people want to go all Russian Revolution and take that away.

chalket
Male, 50-59, Southern US
 2481 Posts
Wednesday, September 19, 2012 12:26:48 PM
All hail CJ! King of making poo up!

chance13
Male, 40-49, Midwest US
 221 Posts
Wednesday, September 19, 2012 12:21:29 PM
A forensic audit is a HUGE undertaking. Especially in a multi-million dollar estate. You have to understand that there are several different types of ways to make 300,000$ of debt disappear...are the assets misappropriated? Is the document fraudulent? Has there been a conflict of interest? Bribery? Simple error? Hidden Assets? ...and that's just off the top of my head. Imagine how long it would take just to figure out which one of these you're dealing with...then the actual audit starts.

Pouring over every account,hedge fund, stock transaction, IRA, sale, purchase, and receipt that a person has accrued over the last year...

A forensic audit is a HUGE undertaking.

sosueme1966
Male, 40-49, Eastern US
 412 Posts
Wednesday, September 19, 2012 12:19:36 PM
So 7,000 millionaires don't have jobs. Not that hard to believe, what with inheritence and all. I assure you that they still paid a great deal of tax on their investments and property.

CrakrJak
Male, 40-49, Midwest US
 16740 Posts
Wednesday, September 19, 2012 11:54:40 AM
Musuko: Forensic CPA work is intensive, especially with the number of deductions it takes to bring a $300,000+ income down to owing zero in taxes. it would take months to investigate all the deductions, interview people, verify expense receipts and then actually do the audit.

madest
Male, 40-49, Eastern US
 6456 Posts
Wednesday, September 19, 2012 10:11:25 AM
@Musuko42, From his ass like every other fact he presents.

markust123
Male, 40-49, Western US
 3784 Posts
Wednesday, September 19, 2012 9:47:33 AM
Kind of a stupid post since these 7,000 didn't pay income taxes because they had no income. Still I bet the Romney camp is going into a panic: We just insulted 7,000 members of our base. Reduce that 47% by 7,000. What? 10% of the 47% are retired elderly? Better remove them from the 47%. 54% of the people in the 47% have jobs where federal payroll tax is collected? We better remove them from the 47%. What I, Mitt Romney, was part of the 47% as recent as a few years ago? Definitely take the 7,000 out of there. So what do we have left? An Obama win sir.

Gerry1of1
Male, 50-59, Western US
 33895 Posts
Wednesday, September 19, 2012 9:42:13 AM

My husband pays income tax. But he works with people doing the same job who don't pay income tax. The difference is deductions, the other worker has four children he can't afford and gets $1000 per kid deductions.

So one person chooses not to have children and has to pay out the wahzoo in Taxes while another is too stupid to use a condom and pays nothing.

We need a flat tax.


Musuko42
Male, 18-29, Europe
 2804 Posts
Wednesday, September 19, 2012 9:40:57 AM
@CrakrJak

"1 CPA per 3.5 cases"

Where did you get that figure from?

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