THE Super Ultra Wealthy Man can see the future, he sees horror ahead

clacy · Jul 2, 2014

I liked it better when you went by bearice

smallStops · Jul 3, 2014

clacy said:
I liked it better when you went by bearice
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and you are?
what about the person your "tribe" threw under the train ?

smallStops · Jul 3, 2014

Even better : what about the person your "tribe" stabbed in the back after being given hospitality ?

Dyna.Mo · Jul 3, 2014

failed_trad3r said:
But it is only a matter of time. 40% of universities are asian american!!! The age of asians is upon us. You complain about jews, but soon asians will surpass the jews as the peoples controlling the world.
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try living in the UK lol

that day been and gone a long time ago...

Martinghoul · Jul 3, 2014

Maverick74 said:
All taxes are an accounting transaction. Where the tax comes from has little effect on the end result. WHERE the tax ends up has a much larger effect. On a more granular level, you and I both know that the "real" wealthy pay ZERO in estate taxes as their wealth is locked up in trusts. So the small amount of money that actually comes from estate taxes is from that small sliver of individuals who made more then the exemption but not quite enough to justify setting up a trust. Martin, it's a miniscule amount. But big picture, the more pressing issue is where tax dollars end up. And I guess based on our personal ideology, one can "believe" where they think it's going. But we really don't need that step. Just as with markets, we can observe the price for the signaling effect. We can "observe" who truly is benefiting by identifying the winners and losers. That would take the impartiality out of of it and keep it strictly quantitative.
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OKI, sure, but indulge me for a moment and allow me to divide the problem here into the constituent bits.

So imagine that, in some perfect world, you could have a system where there are no loopholes, such as trusts, and you could have the collected inheritance taxes going directly into something productive, such as, for instance, funding scholarships and other forms of financial aid for students who need it. Under this scenario, would you say that death/inheritance taxes are a way to decrease the various forms of inequality and might be useful?

Martinghoul · Jul 3, 2014

volpunter said:
hoho, hold back the horse good friend. You badly twist my words here. I never made such statements. I said clearly that "media, documentaries, scholarly articles hardly ever investigate the roots of anti-semitism while you can find libraries stuffed with literature about the Holocaust".

Further, I never mentioned public perceptions, I mentioned detailed publicly available statistics (which you can easily find in public domain and which to your special interest have been compiled by highly independent bodies without any political motivation or racial bias), which clearly state many of the those who find themselves in the 1% bracket along with their public history of giving and donations.

You must have come across David Tepper I guess, one of the notable outliers, who donated quite a sum to his (and my) alma mater to have his name imprinted for all eternity. Some like horses statutes and others engraved nameplates. To each his own. Not sure it really tangents what I tried to get to, which is to help the truly needy rather than enabling a school with a big enough endowment fund (well not that big according to the weekly emails I receive from the alumni department) to build just another building (my take on this is if a school that claims to teach outstanding management courses seems to have a hard time to stand on its own feet after charging perhaps the US's most expensive tuition to each and every student then something must be wrong).

Martinghoul, I am happy to provide you with statistical studies if you climb down from your high horse and more importantly stop twisting my words. I have no interest to debate with someone who tries to win points by twisting the truth.
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Please do provide me with those statistical studies. I would happily apologize to you if I have misrepresented what you have said. However, let's not put the cart before the horse and let's see that evidence, data, facts and statistics. Please.

Martinghoul · Jul 3, 2014

jem said:
The system is set up to create high tax paying drones who will not be able to withstand the ravages of inflation vs the top .05% cronies.
And the system is working.

The tax structure makes it very difficult for non top .02 percenters to accumulate investment capital inside of families. So within 2 generations even if you father was a very successful business man if he did not have super leveraged wealth creation... the people in those families are back to working class very high tax paying status. Their family no longer has the assets which can outstrip inflation. They were turned from potential crony competitors back to worker drones.

Whereas the the .02% very top asset accumulators get to find all sorts of tax loopholes to keep their assets away from the tax man... such as the corporation switching schemes the the top .02% are running now. In the past they had odd trusts such as the what... the generation skipping trust?

Someone posted a great article here a few months ago... showing that unless you make it into the .05% in American you really do not get to relax about money because the govt in ripping it from you in all sorts of ways... year after year.

I saw it in real life... my dad who was a lawyer for one of the largest oil companies in the world... steps away from the top... lived in greenwich... had to trade very successfully in his retirement to maintain a good lifestyle. His friends earnings and lifestyle were seriously decimated during their retirements... and these guys were the .2%. Now I never expected anything but my mom will has a good chance to use up the rest of the estate eating and paying taxes. And this was an estate that got 5 times larger due to trading in his retirement.

If people knew what this system of taxes and inflation were doing to their futures things would be different. But for generations americans did not have to worry about the future because the economy grew. Now we do. And it should become for more obvious... they the 99% are being seriously played by the system.
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You haven't really answered my specific question, but never mind...

Maverick74 · Jul 3, 2014

Martinghoul said:
OKI, sure, but indulge me for a moment and allow me to divide the problem here into the constituent bits.

So imagine that, in some perfect world, you could have a system where there are no loopholes, such as trusts, and you could have the collected inheritance taxes going directly into something productive, such as, for instance, funding scholarships and other forms of financial aid for students who need it. Under this scenario, would you say that death/inheritance taxes are a way to decrease the various forms of inequality and might be useful?
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Sure, in that "perfect" world you created that would be productive. Of course in that perfect world I have a supermodel wife, it's 72 degrees and sunny everyday and I can eat anything I want without gaining weight. Let me know where that place is Martin. Sounds splendid.

Martinghoul · Jul 3, 2014

Maverick74 said:
Sure, in that "perfect" world you created that would be productive. Of course in that perfect world I have a supermodel wife, it's 72 degrees and sunny everyday and I can eat anything I want without gaining weight. Let me know where that place is Martin. Sounds splendid.
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Right, so you're in favor of the principle... That was really all I was trying to establish.

smallStops · Jul 3, 2014

Maverick74 said:
Sure, in that "perfect" world you created that would be productive. Of course in that perfect world I have a supermodel wife, it's 72 degrees and sunny everyday and I can eat anything I want without gaining weight. Let me know where that place is Martin. Sounds splendid.
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If that is you goal in life , that is possible. But then you have to be happy to live the rest of your life like that. And if you come across many of her ex, you have also to keep smiling.