Those of the one percent?

[Jim_Baur]

I noticed an article in the business news.

There is this one “percenter” who is able to take advantage of unusual tax breaks for the one “percenters.”

How do these unusual laws get written for so few of people?

If the one “percenters” have the law written for them, how is that possible?

Also, if the one “percenters” are able to get this kind of law written, do they get other laws written?

If so, what kind?

There tax free institutions?

There multinational families?

There multinational corporations?

THANKS!

 

[stinkcat_14]

I would recommend the book, “Showdown at Gucci Gulch”. If you have the right lobbyists you can get the tax laws written specifically for you.

amazon.com/Showdown-Gucci-Gulch-Alan-Murray/dp/0394758110

 

[Cricket2]

Laws have always favored the rich. Lobbies help accomplish this; lobbies for big oil are the best example out there. Special interest groups help do this. And the fact that people have seem to have allowed special interest groups take over rather than remembering that this is SUPPOSED to be a nation of, by and for the people.

Money buys votes and politicians.

 

[SuperLuigi]

How do these unusual laws get written for so few of people?

Because the public is bought off with scraps from the King’s table or fanning the flames of “discrimination.”

You get the government you vote for.

If the one “percenters” have the law written for them, how is that possible?

They rearrange their assets so that they don’t have a taxable salary. Steve Jobs had a salary of $1 in the last year of his life (probably even before then) to avoid paying taxes.

Also, if the one “percenters” are able to get this kind of law written, do they get other laws written?

Sure they do!

If so, what kind?

There tax free institutions?

There multinational corporations?

Well, the certainly use the system. For instance, Google was funneling money through the Caymans and Ireland to avoid about 20% of an American tax rate.

There multinational families?

I don’t know what this refers to.

 

[Corki]

It all depends on which loophole is being discussed. Some of the tax breaks were put in place to make higher tax brackets more equitable. But the tax code is so complex that the interlocking parts often become obsolete. So a break that may have made sense in an earlier version of the tax code becomes dodgy at best with a later version of the tax code. The is why there is a movement for a “fair tax” or a flat rate.

However, there isn’t anything wrong with “one percenters” having access to tax deductions proportionate to their income. The top 1%, even with all of their “breaks” pay over a third of all the taxes paid in the US, a percentage that has been steadily climbing since the 1980s. It’s not like they aren’t paying a fair share already.

 

[Seraphim73]

I noticed an article in the business news.

There is this one “percenter” who is able to take advantage of unusual tax breaks for the one “percenters.”

How do these unusual laws get written for so few of people?

If the one “percenters” have the law written for them, how is that possible?

Also, if the one “percenters” are able to get this kind of law written, do they get other laws written?

If so, what kind?

There tax free institutions?

There multinational families?

There multinational corporations?

THANKS!

Repeal the 16th Amendment, eliminate the income tax and replace it with a consumption tax and you won’t have to worry about any of this.

 

[nmgauss]

Repeal the 16th Amendment, eliminate the income tax and replace it with a consumption tax and you won’t have to worry about any of this.

Is consumption tax the same as sales tax? If so, there are many loopholes available to avoid paying sales tax. I order online products coming from offshore retailers. No consumption tax or sales tax is ever levied on these purchases.

 

[sallybutler]

Is consumption tax the same as sales tax? If so, there are many loopholes available to avoid paying sales tax. I order online products coming from offshore retailers. No consumption tax or sales tax is ever levied on these purchases.

In the state of California you are supposed to pay a use tax on items purchased from out of state. This has been a law since 1935.

Amazon is charging California residents sales tax not just on the items but on any shipping and handling charges.

 

[nmgauss]

In the state of California you are supposed to pay a use tax on items purchased from out of state. This has been a law since 1935.

Amazon is charging California residents sales tax not just on the items but on any shipping and handling charges.

California Income Tax Forms include an item whereby sales taxes on out-of-state purchases can be declared.

 

[Seraphim73]

Is consumption tax the same as sales tax? If so, there are many loopholes available to avoid paying sales tax. I order online products coming from offshore retailers. No consumption tax or sales tax is ever levied on these purchases.

That’s not really relevant. There are many loopholes to avoid paying income taxes and every other kind of tax. People are people regardless of the tax system. They will always try and find a way to minimize their tax bill.

 

[Jim_Baur]

I believe, and do not know, that the laws are written after they have been carefully planned.

Most human beings would have laws written to favor themselves if they could.

The super, super, super wealthy, I believe, have the laws written the to benefit themselves.

Most humans, I believe, would do that if they could.

To cover my posterior, it might be as low as 50.000000001.

Or from another way, the majority of Americans might be considered from thirty different camps, and then a majority could be in the tens or twenty percent.

The kings wrote laws for their benefit.

The nobility and baron did the same.

Our legislature, I would assume, does the same.

 

[Mickey_Finn]

Laws have always favored the rich. Lobbies help accomplish this; lobbies for big oil are the best example out there. Special interest groups help do this. And the fact that people have seem to have allowed special interest groups take over rather than remembering that this is SUPPOSED to be a nation of, by and for the people.

Money buys votes and politicians.

You don’t have to bother with buying votes when you can buy the politicians.

ATB

 

[styrgwillidar]

The legislators justify it by claims that it encourages specific desired economic activity. For example, huge tax breaks and subsidies for ‘green’ projects. Economically unfeasible green projects which enriched the owners but cost the taxpayers a lot of money.

But you wrap it in a concept-- fight global warming/a cleaner world/conservation that the public generally supports.

Same thing with movie production. The legislators in the various states give these folks huge tax breaks to attract them to their states. Again, justifying it by the jobs and spending that will occur in their state as a boost to the economy.

It’s wrong to blame the corporations or the politicians. Its a two way street and both are to blame. I blame politicians a bit more since they’re supposed to be looking out for our interests. But, they would say they are because of the ‘good cause’ being furthered or the economic activity being generated.

 

[sallybutler]

California Income Tax Forms include an item whereby sales taxes on out-of-state purchases can be declared.

I believe offshore is considered out of state. So you can’t legally avoid sales taxes if you live in California.

 

[AggieCatholic86]

Don’t forget, the “1 percent” is a statistical category. Yes by saying that you mean the very wealthiest of America, but in today’s political climate it’s a rallying cry for people to pick up their pitchforks and blame someone. However as a statistical category, if you are looking at 1 percenters based on income, which tax-wise is only how we measure them politically, people move in and out of statistical categories all the time. The guy who invented the Razor scooter probably was a 1 percenter for maybe one or two years, now as his product is no longer a hot item he’s probably part of the 25 percent, maybe worse. He could be flat broke with no income. So don’t be so quick to demonize a statistical category saying that they “don’t pay their fair share” because I’ve seen a graphic showing that the 1 percent pay not a third of the taxes but 2/3rds, it’s hard to nail down real facts nowadays.

 

[nmgauss]

I believe offshore is considered out of state. So you can’t legally avoid sales taxes if you live in California.

There are a number of exemptions. Food, prescription pharmaceuticals, and eyeglasses are exempt. So are goods imported for resale or goods used more than 90 days elsewhere before being imported.