41 billionaires are now as rich as the poorest half of the world population

Discussion in 'Wall St. News' started by dealmaker, Jan 22, 2021.

  1. gkishot

    gkishot

    There is no law that prohibits you to be another Elon Musk.
     
    #81     Jan 23, 2021
  2. gkishot

    gkishot

    What 'loopholes for the rich' are you talking about?
     
    #82     Jan 23, 2021
  3. You are kidding right?

     
    #83     Jan 23, 2021
    Cuddles likes this.
  4. I would not trade my life for anything to be Elon Musk or have his wealth. Why would I want that?

     
    #84     Jan 23, 2021
  5. gkishot

    gkishot

    No I don't know how the tax law defines the "rich" and what tax reliefs it spells out specifically for them. Maybe you can help.
     
    Last edited: Jan 23, 2021
    #85     Jan 23, 2021
  6. newwurldmn

    newwurldmn

    the government can’t be a for profit entity.
    How would the army work if it were a for profit entity?

    What about the fire department? Or the police? Or the safety net? Schools?

    we can privatize all of it. I think you would be very unhappy with the outcome.
     
    #86     Jan 23, 2021
    Cuddles likes this.
  7. gkishot

    gkishot

    Security spending is also an expense for the rich and not that rich. There are other profit making enterprises besides the army or the police. The same goes to fire protection installations. The govt does not help people to become wealthy. Arguably the govt even stands in the way of personal wealth. Why does the govt need help of people to acquire money? Why can't it do on its own but people can?
     
    Last edited: Jan 23, 2021
    #87     Jan 23, 2021
  8. newwurldmn

    newwurldmn

    goverment investments in infrastructure have created 10s of trillions of wealth.

    government court system as well. same with a social safety net. It’s a lot easier to take a risk when you know your kids won’t be sold into indentured servitude if you fail.

    even organizations like the FDA have created a lot of wealth. Without the standards and research they provide, companies would have to do this on their own and that cost would be prohibitive.

    do you know how much wealth the private sector has created from inventions that came out of NASA?

    the problem is that for all the wealth created by public projects, the government doesn’t get ENOUGH of its share. The only flaw is that they aren’t monetizing the revenues enough.

    The reality is that most businesses (and consequently their rich equity holders) have benefitted from implicit snd explicit government subsidies. If you haven’t noticed that the wealthiest countries in the world have very strong governments with large budgets. The poorest countries have very weak governments.

    you want to drive to work. Perhaps you should pay 2 dollars a mile. But that allows you to have a job without a commute that takes you an hour to travel one mile.
     
    Last edited: Jan 23, 2021
    #88     Jan 23, 2021
    DiceAreCast, Cuddles and NoahA like this.
  9. Tax Havens

    Shell Companies

    Equity Swaps

    Avoiding Capital Gains Tax (borrowing from banks with shares as collateral after buying options)

    Evading Estate Taxes

    Shell Trust Funds

    Incorporating

    Payments in Kind

    Life Insurance Borrowing

    Real Estate Borrowing


    .... Do I need to list more? I trust you are intelligent enough to search for the definitions if you are not informed on terminology.





     
    #89     Jan 23, 2021
  10. ElCubano

    ElCubano

    They should have hung Angelo Mozilo by his nuts. lol. That Orange bastard.
     
    #90     Jan 23, 2021