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  1. #31

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    Quote Originally Posted by Section2 View Post
    Cash is also a paper asset. I'm sorry you can't understand me Jake. You are an expert googler, so I feel confident you'll figure it out.
    I'm at least a moderate googler and I don't understand what you are talking about either.

    Are you one of those Gold / Silver investors?
    "Do Not Be Afraid to Be A Legend"


  2. #32

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    Quote Originally Posted by Section2 View Post
    Everyone wants to make more. Not everyone is willing to make the enormous sacrifices to get it. This is a blanket statement but I think true, 0% of the people who want to soak the rich are those who are willing to make the enormous sacrifice.
    Well, there are people who take risks and reap big rewards, but there are also those who do take risks and never make it and are in the 90%.

    There are also those who were in the 1% who are now in the 0.1 or 0.01% who have such great wealth they can manipulate governments and markets single-handedly.

    My question was at what point does it become a deterrent.

    My ideas on taking on a new business are not deterred by the fact my 10,000,001st dollar might get taxed at 70%. My thought is I want to get to around $9,500,000 a year and then I'll start deciding what my next steps are to not get crushed by taxes as I cross that $10 mill mark. And even then, I probably say, what the heck, keep going.
    "Do Not Be Afraid to Be A Legend"

  3. #33

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    Quote Originally Posted by Face The Facts View Post
    I'm all for the spirit of entrepreneurship, and I like keeping my own money as much the next guy.

    I like to think of myself as rich, but I get confused every time we get this 30% of Americans who adamantly defend the top 1/10th of 1 percent as if they will be in that group in the next 6 months.

    There seems to be a genuine fear that those people will magically pull up roots, and America won't be able to service or replace their knowledge / ownership of companies if they somehow disappear.
    Perhaps those working Americans understand that defending the top 1/10th of 1% defends their own jobs and defends economic investment and defends liberty.
    The last I heard, liberty and justice we for all, not just for those who are in certain economic conditions.

    The fact is that investors lower their investment posture when they are taxed at a greater rate. The higher the tax the less the return in proportion to the risk. Less investment means fewer jobs. Fewer jobs means lower demand and therefore lower wages.

    Face the facts- by failing to defend all Americans you fail to defend one of the major tenets of being an American.

  4. #34

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    Quote Originally Posted by Face The Facts View Post
    I'm at least a moderate googler and I don't understand what you are talking about either.

    Are you one of those Gold / Silver investors?
    look at this article. Did America really "lose" $10 trillion of wealth?
    https://www.businessinsider.com/2009...wealth-in-2008

  5. #35

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    Quote Originally Posted by Section2 View Post
    look at this article. Did America really "lose" $10 trillion of wealth?
    https://www.businessinsider.com/2009...wealth-in-2008
    Boil it down, S2. Quit hiding and deflecting. How do you propose we measure wealth?

  6. #36

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    Quote Originally Posted by Face The Facts View Post
    Well, there are people who take risks and reap big rewards, but there are also those who do take risks and never make it and are in the 90%.

    There are also those who were in the 1% who are now in the 0.1 or 0.01% who have such great wealth they can manipulate governments and markets single-handedly.

    My question was at what point does it become a deterrent.

    My ideas on taking on a new business are not deterred by the fact my 10,000,001st dollar might get taxed at 70%. My thought is I want to get to around $9,500,000 a year and then I'll start deciding what my next steps are to not get crushed by taxes as I cross that $10 mill mark. And even then, I probably say, what the heck, keep going.
    It's not a deterrent to you because you merely would like more money, but aren't driven and willing to sacrifice and do whatever it takes to get it.

    What is your goal with such a tax?

  7. #37

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    Quote Originally Posted by GopherJake View Post
    Boil it down, S2. Quit hiding and deflecting. How do you propose we measure wealth?
    You can lead a horse to water but Jake is still a mental midget.

  8. #38

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    Quote Originally Posted by Section2 View Post
    You can lead a horse to water but Jake is still a mental midget.
    Yep. I'm a mental midget. You got me. Now answer the question.

  9. #39

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    Quote Originally Posted by GopherJake View Post
    Yep. I'm a mental midget. You got me. Now answer the question.
    LOL!

  10. #40

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    Quote Originally Posted by bga1 View Post
    Perhaps those working Americans understand that defending the top 1/10th of 1% defends their own jobs and defends economic investment and defends liberty.
    The last I heard, liberty and justice we for all, not just for those who are in certain economic conditions.

    The fact is that investors lower their investment posture when they are taxed at a greater rate. The higher the tax the less the return in proportion to the risk. Less investment means fewer jobs. Fewer jobs means lower demand and therefore lower wages.

    Face the facts- by failing to defend all Americans you fail to defend one of the major tenets of being an American.

    So you are saying that if say 20% of the richest billionaires decide they've had enough and leave, they'll take "their" companies with them?
    That would be hard to do for a public company, so lets look at private companies. One of the biggest is Cargill.

    How are they going to up and move and take jobs away?
    Are they going to move the farmers and their land with them?
    If so, how?

    Or will they just ship all grain to a different country, then ship it back?
    "Do Not Be Afraid to Be A Legend"

  11. #41

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    Quote Originally Posted by bga1 View Post
    Perhaps those working Americans understand that defending the top 1/10th of 1% defends their own jobs and defends economic investment and defends liberty.
    The last I heard, liberty and justice we for all, not just for those who are in certain economic conditions.

    The fact is that investors lower their investment posture when they are taxed at a greater rate. The higher the tax the less the return in proportion to the risk. Less investment means fewer jobs. Fewer jobs means lower demand and therefore lower wages.

    Face the facts- by failing to defend all Americans you fail to defend one of the major tenets of being an American.
    Are you saying defend people who are homeless or those who don't have healthcare? Or just those who make more than you?
    "Do Not Be Afraid to Be A Legend"

  12. #42

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    Quote Originally Posted by Section2 View Post
    look at this article. Did America really "lose" $10 trillion of wealth?
    https://www.businessinsider.com/2009...wealth-in-2008
    No, I don't think so.

    It depends on what you consider health. Most of that was on paper.

    But what, if not cash, house values, stock, etc., are real, what is real?
    Gold and silver are "real" but their value is also based on the value of paper money.

    In the case of a near financial apocalypse, maybe gold and silver have value, but only if you also have guns or a militia to defend it. At that point in society, pretty much everything is ruined whether you have gold or not.
    "Do Not Be Afraid to Be A Legend"

  13. #43

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    Quote Originally Posted by Face The Facts View Post
    Are you saying defend people who are homeless or those who don't have healthcare? Or just those who make more than you?
    Defend their rights? Absolutely. I will defend the rights of all Americans. It sounds like you won't?

    It's interesting that implicit in your rationale for attempting to confiscate the wealth of the 1%, is that they are doing something illegal. Manipulating government or similar. If your real problem is that they are acquiring their wealth illegally, why not make that your focus?

  14. #44

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    Quote Originally Posted by Section2 View Post
    It's not a deterrent to you because you merely would like more money, but aren't driven and willing to sacrifice and do whatever it takes to get it.

    What is your goal with such a tax?
    What makes you think I have not sacrificed for what I've made? I have not made what billionaires have, but I've sacrificed a fair amount by most accounts.
    It seems as if you are equating my effort to my income or net worth.
    "Do Not Be Afraid to Be A Legend"

  15. #45

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    Quote Originally Posted by Face The Facts View Post
    No, I don't think so.

    It depends on what you consider health. Most of that was on paper.

    But what, if not cash, house values, stock, etc., are real, what is real?
    Gold and silver are "real" but their value is also based on the value of paper money.

    In the case of a near financial apocalypse, maybe gold and silver have value, but only if you also have guns or a militia to defend it. At that point in society, pretty much everything is ruined whether you have gold or not.
    Yes, sounds like you picked up my point more quickly than Jake. Well done.

    We aren't talking financial apocalypse, just what's real and what isn't. I don't know how much wealth there actually is, no one does.

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