Report: Tax Returns of the Top 25 Wealthiest in America

[Endus]

What about corporate taxes?

You guys forgot about that, which totals 29.84% of total profits.

He even mentioned those taxes, but didn't want to talk about them.

It wasn't that "I don't want to talk about them", it's that no company pays a straight corporate tax rate. There are always exceptions and loopholes and whatnot to be dealt with. Particularly as I was just extrapolating from an estimated profit margin to guesstimate the figures anyway. We simply do not have anywhere close to the amount of detail to understand what In&Out's effective corporate tax rate is. You do understand the difference between a nominal tax rate (what you're quoting) and an effective tax rate, right?

[Ivanstone]

Which is my point, the numbers are the estimated value of her company, compared to her net worth.

That's what you people want to tax.

Actually what I want is you to use real world examples that can be used to prove your point. For example, there are dozens of Billionaires who currently live in countries that require them to pay a wealth tax. Get their thoughts. Surely at least one of them must of shared something.

[Machismo]

No it doesn't at all.

The math disagrees with you.

There's more than one set of taxes, the wealth tax would be on top of the other taxes.

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Actually what I want is you to use real world examples that can be used to prove your point. For example, there are dozens of Billionaires who currently live in countries that require them to pay a wealth tax. Get their thoughts. Surely at least one of them must of shared something.

I did, Lynsi Snyder.

Mark Cuban also chimed in, did you take what he said to heart?

[Endus]

And it's part of HER NET WORTH.

A wealth tax puts In&Out as part of her, and taxes her accordingly.

Her ownership of In&Out.

Not. The. Same. Thing.

If she were to sell In&Out to, say, Bill Gates tomorrow, the whole thing, are you saying that In&Out would cease to exist at the moment of sale?

Because if you understand that it wouldn't, you understand why you're misrepresenting things here.

[Machismo]

Her ownership of In&Out.

Not. The. Same. Thing.

Her ownership, which is what percentage of the entire company, again?

[Ivanstone]

I did, Lynsi Snyder.

Mark Cuban also chimed in, did you take what he said to heart?

Those are Americans. The USA does not have a wealth tax. Therefore they can not be used as a real world example of what happens when a billionaire pays a wealth tax.

There are dozens of Billionaires who currently live in countries that require them to pay a wealth tax. Get their thoughts.

[Edge-]

Her ownership, which is what percentage of the entire company, again?

If she sells 100% of her In & Out stock to another person, the company doesn't cease to exist. Ownership of the company doesn't mean you are the company.

This is basic shit, dude.

[Machismo]

Those are Americans. The USA does not have a wealth tax. Therefore they can not be used a real world example of what happens when a billionaire pays a wealth tax.

There are dozens of Billionaires who currently live in countries that require them to pay a wealth tax. Get their thoughts.

So, you don't want to hear from them... got it.

[Endus]

Her ownership, which is what percentage of the entire company, again?

See above.

Say she sold the company to another billionaire tomorrow. Does the company cease to exist when the sale closes?

If you understand enough to know that it doesn't, then you know the difference between the ownership of a company and the company itself, and you need to stop pretending otherwise.

If you don't see the difference, man. Maybe learn how selling things works?

[Machismo]

If she sells 100% of her In & Out stock to another person, the company doesn't cease to exist. Ownership of the company doesn't mean you are the company.

This is basic shit, dude.

I never said it did, I said you want to force her to sell her company. It does mean it's her company, does it not? Or, are you going to keep dodging on that simply question...

Shall I bring up the bridge analogy, again?

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See above.

Say she sold the company to another billionaire tomorrow. Does the company cease to exist when the sale closes?

If you understand enough to know that it doesn't, then you know the difference between the ownership of a company and the company itself, and you need to stop pretending otherwise.

If you don't see the difference, man. Maybe learn how selling things works?

Nope, but it ceases to be her company. See above, you want to force her to sell her company.

[Zan15]

By... selling...stock... and a divorce settlement.

This isn't about being able to outpace the tax, it's about forcing people to sell their companies.

Now, imagine all your assets were taxed at 6%, year over year. How long before you'd have to sell some?

Again these billionaires would still retain their current wealth and most would still see their wealth increase.

Where is the problem?

Why is it ok for people to have to sell all other assets in order to pay tax bills but not this one? Tell me why people have to sell their houses because they can no longer afford the property tax on the house?

So lets call it a wealth property tax shall we and apply the same rules on their assets as we do on people's home (asset).

[jonnysensible]

thread : there should be a wealth tax
machismo : but what about the businesses
thread : yes thats wealth
machismo : nooo pls

repeat for 100 pages

[Machismo]

Again these billionaires would still retain their current wealth and most would still see their wealth increase.

Where is the problem?

Why is it ok for people to have to sell all other assets in order to pay tax bills but not this one? Tell me why people have to sell their houses because they can no longer afford the property tax on the house?

So lets call it a wealth property tax shall we and apply the same rules on their assets as we do on people's home (asset).

In the case of Lynsi Snyder, she'd have to sell her company off, piece by piece.

[Ivanstone]

So, you don't want to hear from them... got it.

I already have and considered their thoughts. Actually I don’t have Lynsi Snyder’s but she is very reclusive because she doesn’t want to be kidnapped.

In any event she doesn’t pay wealth taxes unlike the dozens of Billionaires who currently live in countries that require them to pay a wealth tax. Get their thoughts.

[Zan15]

The math disagrees with you.

There's more than one set of taxes, the wealth tax would be on top of the other taxes.

No it doesn't at all since you are using an specific example for which you have no real data on just a lot of assumptions.

Go with the amazon twins example and it proves that the math disagrees with You!

[Machismo]

I already have and considered their thoughts. Actually I don’t have Lynsi Snyder’s but she is very reclusive because she doesn’t want to be kidnapped.

In any event she doesn’t pay wealth taxes unlike the dozens of Billionaires who currently live in countries that require them to pay a wealth tax. Get their thoughts.

Great, let's see their thoughts. You'll notice most of those wealth taxes went away, because they were shitty.

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No it doesn't at all since you are using an specific example for which you have no real data on just a lot of assumptions.

Go with the amazon twins example and it proves that the math disagrees with You!

Yep, specific example, numbers provided.

You want to force her to sell her own company.

[Endus]

Nope, but it ceases to be her company. See above, you want to force her to sell her company.

Nobody would be forcing her to do so. If she finds other ways to pay her taxes, that's fine.

And if she does choose to, so what? That's not a bad thing, in any way whatsoever. You keep acting like it is. "Oh no, a billionaire might sell some shares, the horror of it all!" Come the hell on. It's not spooky or weird or harmful for stock to be sold.

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Great, let's see their thoughts. You'll notice most of those wealth taxes went away, because they were shitty.

Currently working just fine in Canada (BC), France, Spain, Netherlands, Norway, Switzerland, Italy, and Belgium, to cite current active examples.

[Zan15]

Great, let's see their thoughts. You'll notice most of those wealth taxes went away, because they were shitty.


Yep, specific example, numbers provided.

You want to force her to sell her own company.

Oh please tell me how you have specific numbers when the company financials are private.


I've already told you exactly how they can pay the tax each year without seeing a single dime in wealth disapate.

[Machismo]

Nobody would be forcing her to do so. If she finds other ways to pay her taxes, that's fine.

And if she does choose to, so what? That's not a bad thing, in any way whatsoever. You keep acting like it is. "Oh no, a billionaire might sell some shares, the horror of it all!" Come the hell on. It's not spooky or weird or harmful for stock to be sold.

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Currently working just fine in Canada (BC), France, Spain, Netherlands, Norway, Switzerland, Italy, and Belgium, to cite current active examples.

Like, what other ways?

We're back to this.

[unfilteredJW]

Posters: painstakingly explain in detail their position, citing data and facts that show their position to be factually correct

Machismo: shits on chess board