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re: Liberal coworker talking about Bill Gates
Posted on 9/17/19 at 1:27 pm to imjustafatkid
Posted on 9/17/19 at 1:27 pm to imjustafatkid
quote:
Yes. They are free to do that. Why would anyone decide not to keep more of their own money?
Some credits are so generous that companies aren't paying any taxes at all and are in fact getting surplus funds. So you are wrong. They're collecting taxpayer dollars.
This post was edited on 9/17/19 at 1:28 pm
2
Posted on 9/17/19 at 1:30 pm to BugAC
quote:
Onto your dumbass "point" you are trying to make, why would i give back any ROI on my SS account? If i was allowed to not contribute to SS, then i would have directed that money into a retirement account, bonds, stocks, money market account, etc... each of which I would have FULL CONTROL OVER, and would have a greater ROI than what the feds pay out. In addition, the likelihood of having a positive ROI in SS by the time i retire is damn near zero.
Already addressed that earlier. You typed that for nothing. I know how it works. A lot of people are getting huge surpluses over and above SS contributions plus interest.
quote:
So in short, you're a dumbass and should go back to eating crayons.
Says the guy who didn't read the thread and calls people names like a 6th grader
This post was edited on 9/17/19 at 1:32 pm
Posted on 9/17/19 at 1:33 pm to cahoots
quote:
Already addressed that earlier.
But you didn't. I read the thread. I even read it again for good measure to make sure i didn't miss where you addressed this. YOu have not addressed this.
quote:
lot of people are getting huge surpluses over and above SS contributions plus interest.
Really, like whom?
quote:
Says the guy who didn't read the thread and calls people names like a 6th grader
I read the thread. My contention still holds.
Posted on 9/17/19 at 1:35 pm to i am dan
quote:In what capacity at Microsoft are you claiming Gates can make this happen?
I said if Bill Gates said that, then why does Microsoft keep $billions in off shore accounts to protect them from tax liability.
Posted on 9/17/19 at 1:39 pm to BugAC
quote:
Really, like whom?
Just do the math. If someone starts collecting at 65 and lives to be fairly old (90), he/she will collect close to half a million dollars in SS. You'd have to earn well above median wages to contribute that much to SS in a lifetime, adjusting for interest/inflation. Why do you think SS is unsustainable?
This post was edited on 9/17/19 at 1:40 pm
Posted on 9/17/19 at 1:40 pm to Big Scrub TX
quote:
In what capacity at Microsoft are you claiming Gates can make this happen?
Article from 2015. I assume Bill was kinda running things during this period. This "period" being the last 20 years.
quote:
Cash doesn't flow directly from buyers' pockets to Microsoft's headquarters in Redmond, Wash. Instead, the company operates through three regional sales units, centered in Ireland, Singapore and Puerto Rico. These groups control the rights to profit from Microsoft products around the world. By conducting sales from places with small populations and low tax rates, and routing some profit through virtually tax-free jurisdictions like Bermuda, Microsoft has cut billions of dollars from its tax bill over the last decade.
Another article from 2015.
quote:
Microsoft has in the past 20 years built a network of subsidiaries in part to minimise the taxes it pays to governments worldwide. The company is hardly alone. Many multinational corporations have set up similar structures, in some cases reducing their tax burden to near zero. But a court fight this year between Microsoft and America’s Internal Revenue Service brought to light new documents outlining the deals that set up the company’s structure. Additional court papers, corporate filings and tax records from four continents offer a rare, detailed look at the business of avoiding taxes. In the case of a purchase of its Office software suite in Seattle, after paying Washington state taxes, the company sends the money to the subsidiary in Reno, Nevada. After landing in Nevada, more than half the cash from the sale goes to a Puerto Rican entity. The Puerto Rican company, after paying a 2 per cent local tax and accounting for a share of Microsoft’s research costs, passes a portion of the remaining cash to an Irish company.
This post was edited on 9/17/19 at 1:43 pm
Posted on 9/17/19 at 1:44 pm to cahoots
quote:
Why do you think SS is unsustainable?
Cuz it's being handled by govt and politicians?
If I had a $3.4Trillion budget, I could make anything work too.
Posted on 9/17/19 at 1:50 pm to Big Scrub TX
quote:
In what capacity at Microsoft are you claiming Gates can make this happen?
In what capacity are you claiming that Bill Gates cannot give the fedgov however much of his personal income he would like to give?
Posted on 9/17/19 at 1:50 pm to cahoots
quote:
Some credits are so generous that companies aren't paying any taxes at all and are in fact getting surplus funds. So you are wrong. They're collecting taxpayer dollars.
You are mistaking some terminology here. "Credits" cannot result in surplus given back to the company. I doubt you're going to find any conservatives here who support those types of "credits," which are actually called incentives.
However, you are wrong that the government isn't getting anything out of such deals. Usually any such situation is far more beneficial for the local government than it is for the corporation. These types of things usually include a corporation or business building or moving in and hiring new workers. Those new workers pay local sales taxes, income taxes, property taxes, etc, and the local government is typically better off for it. Sometimes, however, liberals are in charge, and unfortunately they make really bad deals that hardly ever take the bottom line into account. Pandering is the name of the game there, and when all you care about is pandering you end up with deficits.
This post was edited on 9/17/19 at 2:04 pm
Posted on 9/17/19 at 1:51 pm to cahoots
quote:
Why do you think SS is unsustainable?
Because they aren't investing the money. They're simply letting it sit there. The government isn't even trying to keep up with inflation. The money is worth less when you get it than it was when you gave it no matter what.
Posted on 9/17/19 at 1:52 pm to i am dan
quote:
Cuz it's being handled by govt and politicians?
If I had a $3.4Trillion budget, I could make anything work too.
Right, the SS program is very generous if you live a long time and you didn't earn a ton in your lifetime. Those people do really well. Others are subsidizing them.
Posted on 9/17/19 at 1:54 pm to troyt37
quote:He certainly can. That has literally nothing to do with my question.
In what capacity are you claiming that Bill Gates cannot give the fedgov however much of his personal income he would like to give?
Posted on 9/17/19 at 1:56 pm to i am dan
quote:That was after Nadella was appointed. In any event, there's no way at present that Gates could just make MSFT adopt a different tax structure.
Article from 2015. I assume Bill was kinda running things during this period. This "period" being the last 20 years.
Posted on 9/17/19 at 1:56 pm to cahoots
quote:
Fine. Take what you paid and send back any surplus
This can't be real
Posted on 9/17/19 at 1:59 pm to Vecchio Cane
quote:
This can't be real
I know it's absurd. That's the whole point. Telling people to write checks to the government is pants on head retarded.
Posted on 9/17/19 at 1:59 pm to Big Scrub TX
quote:
He certainly can. That has literally nothing to do with my question.
So your question has literally nothing to do with the subject of this thread. Other than the fact that whether Gates owns 4% or 50% of Microsoft, he could pay the federal government the taxes that would be accrued to his portion of that money, were it not sheltered offshore. If he thinks he doesn’t pay enough, maybe it is because he isn’t doing that, ya think?
Posted on 9/17/19 at 2:04 pm to cahoots
quote:
Telling people to write checks to the government is pants on head retarded.
Wanting to pay more in taxes to an establishment that has proven for many years that they suck at handling money , is pants on head retarded.
Posted on 9/17/19 at 2:05 pm to cahoots
quote:
If someone starts collecting at 65 and lives to be fairly old (90), he/she will collect close to half a million dollars in SS.
What are you basing that off of?
quote:
Why do you think SS is unsustainable?
LINK
quote:
By 2035, the number of Americans 65 and older will climb from about 48 million today to over 79 million. That’s the Baby Boomer impact.
quote:
Currently, there are 2.8 active workers for each Social Security beneficiary. It will be only 2.2 workers per beneficiary by 2035. And just to throw a little more fuel onto your worry fire, that figure of 2.2 workers per beneficiary assumes that labor force participation rates between now and 2035 will be stable or improved from where we are today.
quote:
That means each and every worker, from the lowest paid to the highest, must pick up the tab for roughly $7,000 per year of Social Security expenses through their contributions and taxes—before they start to pay for any other government services like healthcare or defense (not to mention interest on the national debt).
LINK
"The most important practical advice to draw from the above chart is simple: save and invest. If you trust your retirement to politicians [or promises], you will end up poor and feeling cheated."
This post was edited on 9/17/19 at 2:11 pm
Posted on 9/17/19 at 2:06 pm to troyt37
quote:Um, no. It is a direct response to one of the stupid rant points in the OP.
So your question has literally nothing to do with the subject of this thread.
quote:Gates' share is a small fraction of the MSFT denominator. The OP point was stupid and yours is stupid too.
Other than the fact that whether Gates owns 4% or 50% of Microsoft, he could pay the federal government the taxes that would be accrued to his portion of that money, were it not sheltered offshore. If he thinks he doesn’t pay enough, maybe it is because he isn’t doing that, ya think?
Posted on 9/17/19 at 2:11 pm to cahoots
quote:
Already addressed that earlier. You typed that for nothing. I know how it works. A lot of people are getting huge surpluses over and above SS contributions plus interest.
No, "a lot of people" are not.
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