NY Millionaires ask to pay more taxes

Discussion in 'West Mall' started by Horn6721, Feb 13, 2019.

  1. Horn6721

    Horn6721 10,000+ Posts

    New York Millionaires Tell Albany: Tax Us, Please
    Testifying on Tuesday at a state budget hearing, Mr. Pearl asked a bipartisan group of about half a dozen legislators to create a new “multimillionaire’s tax” on households earning more than $5 million a year in order to fund new affordable housing, infrastructure and schools.

    Such virtue signaling BS. Much like Buffett. This is so funny. If either of them really felt that way they could send money any time.

    Until he writes a check to the state on NY on his own he is nothing more than a lying piece of doo doo.
     
  2. Monahorns

    Monahorns 1,000+ Posts

    Why doesn't Mr. Pearl just buy property, build some housing on it, and let people live there for free/very little rent? It would be a much more efficient use of the money and he would even get the warm fuzzies that comes from personally helping other people out.

    This is the kind of attitude that absolutely baffles me, really of 90% of the people in this country. We give over more and more of our lives over to the government. Even conservatives spend much of their time defending yesterday's government encroachment on freedom or intervention in the economy while weakly fighting against tomorrow's.
     
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  3. Horn6721

    Horn6721 10,000+ Posts

    Starbuck's Shultz and Bill and Melinda Gates said yesterday they should pay more in taxes.
    When will any media ask they Why they don't?
     
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  4. UTChE96

    UTChE96 1,000+ Posts

    Gates and Buffet give a ton of money to private charities but zero to the Federal government. Wonder why that is?
     
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  5. 4th_floor

    4th_floor 1,000+ Posts

    Buffett takes every possible deduction and has tax lawyers on retainer. He appeals and delays tax payments as long as possible. Basically the IRS has to sue him to get his tax money. The IRS won't seize his assets first and ask questions later like they would do for average richie. Buffett is a total hypocrite when it comes to taxes.
     
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  6. Horn6721

    Horn6721 10,000+ Posts

    4th
    Yes exactly
    Manipulate the system to the nth degree
    But don't insult people by pretending you would pay more.
     
  7. 4th_floor

    4th_floor 1,000+ Posts

    Here's the case I remember. Yes, it's a few years old, but it's not an isolated incident.
    Berkshire's NetJets defeats $500 million IRS tax claim | Reuters
     
  8. mchammer

    mchammer 5,000+ Posts

  9. theiioftx

    theiioftx 2,500+ Posts

    A large percentage move to Florida,Texas and Tennessee to avoid taxes. Unfortunately they bring their stupid economic policies with them.
     
  10. theiioftx

    theiioftx 2,500+ Posts

    Buffet is a liar and political hack.
     
  11. Mr. Deez

    Mr. Deez 10,000+ Posts

    I think they mostly bring their social policies. The stupid economic policies simply come with those.
     
  12. TxnByBirth

    TxnByBirth 1,000+ Posts

    The simple fact that they can't equate the two is baffling in its stupidity.
     
  13. Mr. Deez

    Mr. Deez 10,000+ Posts

    I don't think they're motivated by economic issues to the same extent. If the politician is not culturally in agreement with them (pro-abortion rights, pro-LGBT, virtue signals about "diversity," etc.), they aren't even going to listen on economics. It also doesn't help that the GOP has largely destroyed its credibility on fiscal responsibility, so when we try to encourage people to set aside cultural differences for fiscal commonality, it rings hollow.
     
  14. UTChE96

    UTChE96 1,000+ Posts

    Then I assume they are happy that Trump raised taxes on NY millionaires by capping SALT taxes.
     
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  15. iatrogenic

    iatrogenic 1,000+ Posts

    Tax the rich, well maybe not-

    "Mr. Cuomo has backed closing the carried interest loophole, and his aides said he would consider a pied-à-terre tax. But he has openly mocked calls for an expanded millionaire’s tax — especially in light of new federal tax laws that Republicans passed in 2017. According to Mr. Cuomo, those changes fell hardest upon New York’s highest earners."

    What a great country, even morons can be rich-

    "Neither Ms. Disney nor Mr. Pearl denied that the federal tax changes had cost them more — but in part, they said, because they did not actually know if that was the case.

    “To tell you the truth, I’m not sure exactly,” said Mr. Pearl, adding that most of his income was earned through capital gains, which are taxed at lower rates than normal income."
     
  16. TxnByBirth

    TxnByBirth 1,000+ Posts

    No doubt the GOP has destroyed any semblance of fiscal integrity, particularly at the federal level. It's completely maddening.

    It's not just the virtue signaling, social justice peddling from the leftists though. They move from states where they are exorbitantly taxed for all of the insanely out of control social programs (which they leave in large part because of those taxes), yet they move to states that don't have those problems and then work extremely hard to elect people that will create them. That's what astonishes me.
     
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  17. Mr. Deez

    Mr. Deez 10,000+ Posts

    It is astonishing, but that's my point. They're leaving high tax states because of their own situations. They lost their jobs or don't like the prospects they have, but they don't tie that to a broader economic policy. Like lots (probably most) of voters, they're voting their cultural values, not their economic interests. They did that in California and Illinois, and they're doing it in Texas, Arizona, and other states where Democrats are starting to gain traction.
     
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  18. nashhorn

    nashhorn 2,500+ Posts

    This is all so ridiculous, wanna pay more in taxes? Write a check. Local, State, and Federal authorities would be happy to take it. That too complicated? Then quit taking your exemptions, simple.
    It's almost as absurd as not knowing which bathroom to use,,,,,well almost.
     
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  19. TxnByBirth

    TxnByBirth 1,000+ Posts

    I just wish our governor had made it VERY clear that we only wanted the businesses from Cali, not the people.:e-face-shades:
     
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  20. 4th_floor

    4th_floor 1,000+ Posts

  21. Monahorns

    Monahorns 1,000+ Posts

    I all of a sudden like Jeff Bezos more.
     
  22. Seattle Husker

    Seattle Husker 10,000+ Posts

    Buffett playing within the rules of the game (read: tax law) while advocating for changes to the rules is analogous to Bill Belichick using the NFL rules to his advantage while encouraging changes to the rules.
     
  23. Horn6721

    Horn6721 10,000+ Posts

    Uh No it isn't at all.
     
  24. Seattle Husker

    Seattle Husker 10,000+ Posts

    I disagree. It's a fair analogy. Belichick should voluntarily penalize his team rather than advocate for rules changes, right?
     
  25. bystander

    bystander 5,000+ Posts

    The stakes are much higher. Asking the government to tax more is giving them more power to abuse the money. It's too political. I don't believe they operate in good faith.
     
  26. Monahorns

    Monahorns 1,000+ Posts

    All the guys who ask for higher taxes are very well connected politically. I think this means 2 things. First, the CEOs are doing this for good PR. Second, they know any new tax changes will hurt their competitors more than them.
     
  27. ProdigalHorn

    ProdigalHorn 10,000+ Posts

    I remember reading an article about Buffet a few years ago while he was "nobly" standing up and defending the estate tax. "It's just not right that we give allll that money to people who didn't earn it. We need to tax that stuff!"

    Turned out a substantial part of his business was in purchasing up estates when the inheritors couldn't afford to pay the taxes. So he swooped in and bought them out at cut-rate prices.

    Yeah... he's a real hero.
     
    • Funny Funny x 2

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