Archived posting to the Leica Users Group, 2011/10/16
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Robert, Which "news"? If I got my information from TV or even the recently discredited WSJ, I would not have a complete view. With regard to Warren Buffet, I think a confiscation of income over, say, $1 million would accomplish nothing. I stand to be corrected. As always. Best, Ken On 10/16/2011 7:25 PM, Robert Meier wrote: > Ken, > > "The Buffet Rule:" Haven't you been following the news? > > Robert > > On Oct 16, 2011, at 7:16 PM, Ken Carney wrote: > >> On 10/16/2011 6:33 PM, George Lottermoser wrote: >>> On Oct 16, 2011, at 6:07 PM, Ken Carney<kcarney1 at cox.net> wrote: >>> >>>> Wonder how all these occupiers were able to get off work for so long? >>> Many of the Milwaukee "Occupiers" (a one Saturday event) were "laid >>> off" or otherwise unemployed; part of that 9.1% as well as the 99%. >>> I spoke with quite a few degreed professionals with 20 plus year >>> professional careers who have been unable to find "any" work for 4 >>> to 12 months. Others have been forced into early retirement. Others >>> are serious students who can no longer finance their educations; or >>> find employment. The stories are many and sad. Minorities in >>> Milwaukee have more than 4 times that 9% unemployment rate. And >>> those rates do not include the people who have simply given up on >>> the prospect of finding work. >>> >>> Regards, George >>> >>> _______________________________________________ >>> Leica Users Group. >>> See http://leica-users.org/mailman/listinfo/lug for more information >>> >> I hear you. It also relates to Richard's comments about corporations >> hoarding cash and banks not lending...the reason is that there aren't >> as many opportunities for investment now. The reverse, actually. >> The question is, what can our government do about it? The >> government doesn't create jobs, except in a temporary and largely >> wasteful sense. Large CEO salaries and taxes on the rich are >> irrelevant - the most draconian measures would not put a small dent >> in the debt. What is needed, IMHO, is competent fiscal >> administration, something not present now (IMHO). I have now >> escalated into a rant, which needs at least a couple of constructive >> suggestions. As a tax adviser, I will probably be excommunicated for >> this one, but I think the current policies regarding transfer of >> intangible assets offshore should be revisited (Google, Cisco et >> al.). All that is happening there is that the income escaping U.S. >> tax must be reinvested in another offshore business, else it will >> become income subject to U.S. tax. So, the U.S. tax break is >> building industries and infrastructure in other countries. A U.S. >> citizen is taxable on worldwide income, now matter where earned. Why >> should it be different for a corporate business? A second suggestion >> is to stop U.S. military intervention in hopeless causes, e.g., >> Afghanistan. OK, a third bonus suggestion would be some way to >> eliminate federal pork spending, a lost cause I know. >> >> Lastly, I have numerous clients who have taxable income in excess of >> $1 million. They all pay taxes at the highest rate. They are also >> usually high charitable givers. Who pays taxes at a lower rate? Two >> instances come to mind. One is the risk taker who is able to take a >> deduction for intangible drilling costs in the exploration for oil >> and natural gas, and that is a temporary thing. The other is someone >> who has bitten on a tax shelter, with blowback potential that will >> greatly exceed the temporary tax savings. EOR! >> >> Ken >> >> >> _______________________________________________ >> Leica Users Group. >> See http://leica-users.org/mailman/listinfo/lug for more information > > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information >