Panama papers: China censors online discussion

[RW]

Or Daddy's money when he pffffffts. Any really rich person made their money off someone else's labor and sweat.



Name one possible instance where that did not happen?

I thought I just did.

Not sure who PK is, but God-given talents don't make you rich. You still need a lot of help from the less fortunate, whether you are a businessman or an athlete.

Hockey player for the Montreal Canadiens.

[ELPHUPPHY]

Or Daddy's money when he pffffffts. Any really rich person made their money off someone else's labor and sweat.



Name one possible instance where that did not happen?

I thought I just did.

Not sure who PK is, but God-given talents don't make you rich. You still need a lot of help from the less fortunate, whether you are a businessman or an athlete.

Hockey player for the Montreal Canadiens.

Well then that proves my point. Mr. PK had help and support from his parents, no doubt, and coaches and equipment managers and such. I doubt he was born from a hockey puck with his skills intact.

[RW]

Well someone buys tickets to watch his games which generates revenue which pays players.

[Anonymous]

I have NEVER in my life paid a dime when eating or dining with a millionaire.

Neither do the first four people who have been drinking off the rich guy.

[Anonymous]

I have NEVER in my life paid a dime when eating or dining with a millionaire.

I know a few very rich captains of industry, as it were. They invariably pick up the tab when dining or drinking. I think they do it because they feel bad that I make such a pittance compared to them.

They do it voluntarily because they choose to. Obscene taxation like in the millions of dollars is not voluntary. It is like paying the Hells Angels to do business.

[RW]

I have NEVER in my life paid a dime when eating or dining with a millionaire.

Neither do the first four people who have been drinking off the rich guy.

Have you ever talked to a "rich" person about paying taxes?

[Anonymous]

Well then that proves my point. Mr. PK had help and support from his parents, no doubt, and coaches and equipment managers and such. I doubt he was born from a hockey puck with his skills intact.

He has natural skill, that is unquestionable. And he takes good care of his parents. I have no doubt they see what he has become as a good investment of their time and money.



What is questionable is why he should pay millions of dollars to the CRA and Quebec? Did they buy his skates and drive him around when he was in junior? Why should they get more than his family who sacrificed for him?  He is a wealthy guy, so he can pay a little more, but there is no way he should be given a multi million dollar bill for services. Nobody should. Remember, like so many wealthy people he donates a lot to charity. One million dollars alone in 2015. What a waste that would be for Canadian society if that money went into general government coffers to buy votes with.

[RW]

Even at a flat tax rate they'll still pay more.



Like I asked seoul, why should they pay less per dollar than anyone else???

[Anonymous]

I have NEVER in my life paid a dime when eating or dining with a millionaire.

Neither do the first four people who have been drinking off the rich guy.

Have you ever talked to a "rich" person about paying taxes?

I am the consultant. I deal with wealthy contractors every single day I am on the lease. I was part owner in a swabbing outfit in the early 2000's.  ELPHUPPHY's characterization of wealthy people is so ignorant and wrong I do not even know where to begin.

[RW]

You didn't answer my question.

[Anonymous]

Bar Stool Economics Show Why A Progressive Tax System Is Wrong



BAR STOOL ECONOMICS



Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:



The first four men (the poorest) would pay nothing.



The fifth would pay $1.



The sixth would pay $3.



The seventh would pay $7.



The eighth would pay $12.



The ninth would pay $18.



he tenth man (the richest) would pay $59.



So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball.   'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beers by $20. Drinks for the ten now cost just $80.'



The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?'



They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.



With the new system:



The fifth man, like the first four, now paid nothing (100% savings).



The sixth now paid $2 instead of $3 (33%savings).



The seventh now pay $5 instead of $7 (28%savings).



The eighth now paid $9 instead of $12 (25% savings).



The ninth now paid $14 instead of $18 (22% savings).



The tenth now paid $49 instead of $59 (16% savings).



Each of the six was better off than before and the first four continued to drink for free, but once outside the restaurant, the men began to compare their savings. "I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man, "but he got $10!"



"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got TEN times more than I!" "That's true!" shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!" "Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!"



The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something very important.  They didn't have enough money between all of them for even half of the bill!



The people who pay the highest taxes get the most benefit from a tax reduction.  This is called, "No shit Sherlock".  Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.



For those who understand, no explanation is needed.



For those who do not understand, no explanation is possible!

http://www.financialsamurai.com/bar-stool-economics-show-why-a-progressive-tax-is-wrong/">http://www.financialsamurai.com/bar-sto ... -is-wrong/">http://www.financialsamurai.com/bar-stool-economics-show-why-a-progressive-tax-is-wrong/

Nine drunks getting their daily habit paid for by one generous guy and they scream it's unfair when he gets a break. :001_rolleyes:

[Anonymous]

Two threads about the same thing..



I noticed someone had posted a link to a Nick Hanauer speech..



Not that long ago, I read an article about him..



He promotes raising the American minimum wage nationally to $15 an hour, but pays his own workers less than half that..



Nothing against Peaches, but I am tired of rich hypocrites like him who are politically connected, preach one thing and do the opposite..



It is as hypocritical as Leonardo DiCaprio calling us greedy for using fossil fuels to make our lives better while he rents gigantic yachts, has several homes and uses private aircraft all the time.

 

[Anonymous]

Nothing against Peaches, but I am tired of rich hypocrites like him who are politically connected, preach one thing and do the opposite.

Nick Hanauer is a major dark money contributor, his interests are political and of course he's a total hypocrite. If Peach had a done any research whatsoever instead of gushing over his bullshit"plutocrat" speech, he/she might realize he's a fucking phony using class warfare and money to get political favours just like his buddy Tom Steyer. Oh the pitchforks will be coming, but it will be for the hypocritical scumbags like Hanauer in the Democracy Alliance and the politicians who prostitute themselves to such nefarious types.

[ELPHUPPHY]

I have NEVER in my life paid a dime when eating or dining with a millionaire.

Neither do the first four people who have been drinking off the rich guy.

Have you ever talked to a "rich" person about paying taxes?

I am the consultant. I deal with wealthy contractors every single day I am on the lease. I was part owner in a swabbing outfit in the early 2000's.  ELPHUPPHY's characterization of wealthy people is so ignorant and wrong I do not even know where to begin.

Tsk tsk, there Herrmie. While you may not agree with me, it's rather harsh to characterize my comments as ignorant. Shame on you. I thought this board was a bit more polite than that.

[ELPHUPPHY]

Well then that proves my point. Mr. PK had help and support from his parents, no doubt, and coaches and equipment managers and such. I doubt he was born from a hockey puck with his skills intact.

He has natural skill, that is unquestionable. And he takes good care of his parents. I have no doubt they see what he has become as a good investment of their time and money.



What is questionable is why he should pay millions of dollars to the CRA and Quebec? Did they buy his skates and drive him around when he was in junior? Why should they get more than his family who sacrificed for him?  He is a wealthy guy, so he can pay a little more, but there is no way he should be given a multi million dollar bill for services. Nobody should. Remember, like so many wealthy people he donates a lot to charity. One million dollars alone in 2015. What a waste that would be for Canadian society if that money went into general government coffers to buy votes with.

I don't disagree that in many countries, the rich pay much more than their fair share. Especially since any government makes poor use of the taxes they do collect.