Standing up for our Bosses

It's always *fight fight fight* when it comes to discussions on lowering taxes. I find it amusing how the fierce opponents are nowhere to be found when the numbers of real world practicality roll back in.

When I grow up, I want to be a 1%'er

Wealth is a wonderful thing, especially when it creates jobs. But for a complete picture one would also have to look at where that wealth came from. Did he generate 100 jobs that serve his personal needs by laying off 1,000 people from his business or cutting their salaries while keeping his salary intact? That would be great for the 100 and great for the owner but in fact have a negative impact on the overall economy and hurt far more than it helped. This morning's census report showed 1 out of ever 2 Americans either living in poverty or considered low income, and 1 in 5 children growing up in poverty. How does that happen if so many good jobs are being created? Politico is not a source to go to for unbiased reporting.

Many, but using an unbiased eye for all even when they promote your own agenda. As the old saying goes "Believe nothing you hear and only half that you see". Although today, with computers, believe nothing you see either. I listen to all that is said and then let my conscience be my guide, and I'm always skeptical of absolutes no matter which way they lean.

Not this SH@@ again!

No THIS Sh@@again.

Note to Mods. Politics is back. Welcome to the election year and a thousand ways to spread propaganda, none of which goes unchallenged. Time to close another thread.

B.S. It's Tea Party propaganda. Just making it about yachts doesn't change that. The moment you talk about job creation, you'll have to address job destruction, especially when you quote things like "3 cheers for the '1 percenters'. For the record, if the 1%ers were actually concerned about creating jobs they would get rid of their mega-yachts and buy (30) 40' boats. Now THAT would create jobs. Unfortunately the ones who owned the 40' and 30' boats are the 99%, the 1 in 2 that is now listed in poverty or low income. The only reason the big yachts are creating work is because the owners need that work done to pursue their extravagant lifestyle. There is nothing benevolent about it. Just ask the laid off workers at Burger or Post or any of the other manufacturers who have laid off their workers. This is politics and propaganda pure and simple.

Don't close the thread!
It's entertaining to read the rants of the jealous 99%-ers that have no idea what's it like to write a check (of their OWN money) for a million plus in taxes - that don't have to meet a payroll each week that pays the bills for dozens or hundreds or thousands each week - that have little or no capital at risk in a profitable enterprise - that haven't taken an original creative thought and with their own blood, sweat and tears built an empire worthy of and that supports a 100+ yacht - I could go on but I won't ..... there are some on this forum that will remain silent but know that it is them of which I speak (the 1%ers) .... and others that know they are amongst those timid souls that are dependent upon the creativity, ambition and the success of others.

Classic example of folks that didn't earn the money, pay the taxes on it - then invest what was left in an enterprise that creates more jobs - these are the folks that want to tell the enterprising successful guy how to invest his money - absolutely brilliant and perfect example of the "group-think" typical of the OWS gang and others that have no idea of how the economy actually works.

Sorry to disappoint you but I've run my own businesses for over 30 years, with my own money and risked my last penny but not one of anybody else. How many 1%ers can say that, risked their very last penny and nobody else's. What's that Bible called? Oh yeah, "Other People's Money" by The Donald.
Any doubts now that this thread was a veiled attempt at propaganda?

Congrats NYCAP - you make my point - I say no one has the right to tell You how to spend or invest your profits whether they (profits) be thousands or millions - the principal is the same ...

America needs more entrepreneurs like you and not so many unaccomplished critics of success ...

Sorry again, but I'm am the 99%, the OWS. And my wife, who doesn't have an entrepreneurial bone in her body, works hard every day doing the job of 3 saving corporate behinds who have shipped American jobs to China to save a few bucks and lessened the quality of their product by doing so. Her company laid off 90% of it's work force, went bankrupt to avoid it's creditors, made their stock worthless, yet was never unprofitable and no executives have lost their jobs or had their salaries cut. So anybody who says that the 99% are lazy good-for-nothings or denigrates them for not having the entrepreneurial gene is talking about my wife and me, and they'd best look higher on the food chain for the lazy, greedy SOB's.
P.S. There is nothing wrong with success and there is nothing wrong with making money. It's what you do to get it, what you do with it, and what you do to help the lowliest of your fellow man that makes you a productive member of society or a leach and in my experience there are a lot more leaches by % among the 1% than the 99%.

As always there are two sides to every coin. For every honest entrepreneur intent on building his company the right way there are probably 4 or 5 business owners that are trying to preserve what they have built, and during a downturn that means reducing staff if they don't have work for them to do. Then there's the few "Neutron Jack's" that are also slashing staff to make more when they come to power in an existing business. ...

The only thing I would point to relative to this was disastrous "luxury tax" that was levied in the 90's. While the idea that the tax was modest and wouldn't effect anybody's decision to buy a luxury item the result was exactly the opposite. Why pay an additional 10% tax on a new car, boat or plane when you can buy a slightly used one for a lot less? In 1991, Washington levied a 10% luxury tax on cars valued above $30,000, boats above $100,000, jewelry and furs above $10,000 and private planes above $250,000.

While the liberals crowed that the rich were "finally paying their fair share", the result was a disaster. The taxes took in $97 million less in their first year than had been projected -- for the simple reason that people were buying a lot fewer of these goods. Boat building was particularly hard hit. Yacht retailers reported a 77% drop in sales that year, while boat builders estimated layoffs at 25,000. All but the car tax was repealed in 1993, and in 1996 Congress voted to phase that out too. Anyone who was in the business of boats or aircraft remembers that time frame very well.

Here is a link to a NYT article on the repeal of that particular tax… Falling Tax Would Lift All Yachts - NYTimes.com

With any regulation or tax there are ALWAYS unintended consequences. People will go to great lengths to avoid a tax, however small. They do not feel that they are receiving anything from paying it and that irritates them. Americans are particularly adverse to taxes, as graphically demonstrated by the 1773 Boston Tea Party.

Bottom line is that taxes, of any kind, reduce economic activity. If you want less of something, tax it. And that includes prosperity.

Don't get me wrong, taxes are a necessary evil. But when I see Google making billions and not paying income tax by setting up a server in Ireland that allows them to shift advertising revenue out of the US just because the bytes for the ads that I am looking at reside out of the country there's something out of whack. There's way too much crony capitalism going on (as evidenced by the Solyndra and Fisker scandals) and we are all paying for it.

thanks guy,s this gives me a headace , this is why i sold my very expencive M/Y and bought a commercial fish boat i only need 1third the crew and the cost of operation is only a fraction of what it was before and now i get paid to vacation instead of paying because of the exemptions i can get now it is much more cost effective for me now i have more money to spend OVER SEA,S

travler

It's the 99% that drove that. The 1% don't buy junk goods from China, they buy quality items that are made in the US and Europe. Heck, I have a complete set of Wusthoff classic kitchen knives, not some cheap crap from China and I'm not even close to the 1%, but I buy quality items that are made to last and avoid Chinese items as much as possible. It's the 99% that want to buy the cheapest product at the cheapest price, without caring about quality. 1% aren't the ones at Walmart buying junk products. So the in order for companies to compete with the cheapest price, of course they shifted production to China. None of the 1% I know are leeches, and they have all treated me very very well financially and otherwise. You cannot make money or a living from someone that doesn't have any.

You're quoting a comic on Fox Mews as a source for facts and unbiased opinions? Kidding right?