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Post by thunderhawk on Oct 16, 2019 9:33:00 GMT -6
Am I the only one (aside from Mayor Pete and Uncle Joe) who recognizes how totally full of shit Liz Warren is? Jesus Fuck. What a demagogue. She's still better than Shitler. I don't give a fuck about Uncle Joe and hope he just fades away. I do still like Pete and hope he can assfuck Trump in debates next year and make him look fucking silly. We all know that trump would put out ads and call him a fag. Dude my seven year old in the middle of an expletive-laced freakout is magnitudes better than Twitler. At least my kid knows who the good guys are.
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Post by thunderhawk on Oct 16, 2019 9:55:42 GMT -6
WHAT THE FUCK As someone with several doctors in my family, including OBYGYN's 99.9999999999999999999999999% of "super late term" abortions are tragic as fuck catastrophic fetal anomoly/death sentence pregnancy. Nobody is walking into a PP at 8 months preggers and saying, nah, fuck it, abort the little fucker. COME ON MAN Yeah, I agree, so there is no reason to write a law like Virginia did with a 3rd trimester "mental health" carveout to permit abortions right up until the baby's head is in the birth canal. It's totally fucking stupid and it just throws red meat to the table pounding anti-abortion crowd. Groups of fringe nuts on both sides of shit like abortion and gay rights shit need to stop trying to spike the god damned ball on one another. Most people are fine with some shit in the middle, but when you try to make law on some shit that is outside that "99.9999999999999999999999999%" number it is just fucking stupid. I'm just glad we have effectively legalized chronic on the federal level if the states want to do it. Never thought I'd see a GOP POTUS letting that fly, but with the "Greatest Generation" all but gone it makes sense because the Boomers don't give a shit. I know the legal cool kidz like to bemoan Roe as poorly reasoned, but as far as I'm concerned it's a brilliant decision that does a fine job addressing the competing liberty interests and practical medical realities. And anyone who'd carry a healthy pregnancy almost to term who decides to abort instead of deliver has some seriously fucked up mental health issues of their own and needs counseling and psychiatric medication, not a fucking abortion. My brother-in-law and his wife who can't have children due to a heart condition would kill to be able to adopt that kid.
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Post by NOTTHOR on Oct 16, 2019 10:02:49 GMT -6
2) Wealth tax. Again, it WILL NEVER HAPPEN. It's been tried in several European countries and failed miserably. So it's a fucking lie, which is exponentially worse than your garden variety lie because this fucking lie is her stupid funding mechanism for all of her I HAZ PLANS. 3) Free college. First, not every prole is going to college. Second, why should millionaire kids get free college? Third, how do admissions work at state schools when the system is flooded by people who now feel compelled to go to college when they'd be better off (and make far more money) in a trade? The right idea is to make college affordable for those who want to go, and make community college and trade schools super low cost. Duh. Again, this idiotic proposal will be funded by the never to be implemented wealth tax. Those two things are huge. The wealth tax she proposed in Senate was a 2% PER YEAR tax on wealth above $50 million and a 3% tax on wealth above $1 billion. The problems aside from what the distinguished gentleman above pointed out are that a lot of people in that range have completely illiquid assets and plenty of them are asset rich and cash poor. They would have to take on investors or bank financing that would suddenly impose all sorts of limitations on how they can run their businesses. It would be a feeding frenzy for guys like me, I-bankers and vulturistic PE funds, but it would be disastrous for asset prices because guys who need to stroke a 7 or 8 figure check to Uncle Sugar and need cash would have to agree to ridiculous terms to get financing if word was out they needed cash to pay taxes. If you want to tax wealth, you need to just let these guys get rich and hammer the ever living shit out of them on estate taxes and actually have someone who isn't bought off or incompetent write the fucking tax code. There are some guys who own publicly traded securities, like Warren Buffett, whose net worth is readily ascertainable, but every real estate developer, people from the Mars or Cargill family, etc. who have illiquid assets would seriously have to litigate against the god damned government EVERY YEAR to determine their net worth. It would be like property tax appeals on steroids because the amount of money on the line is so fucking big and you can't just have some apparatchik dictating the price because you have to give people due process. Free college. Oh my gawd. What a fucking disaster. Every effort the federal government has made to make college cheaper has made it increase exponentially in cost. The colleges have no market discipline whatsoever and it has led to insane bloat and people who are worthless as tits on a boar making ridiculous salaries for doing fuck all. The Germans and Japanese have this shit right. You get a god damned IQ test and if you ain't that smart, you ain't going to college, at least not in a state subsidized school. Your ass is going to trade school or straight into the work force. Hell, the state run schools are like 5 grand a year in Japan, but the bar to get into them is high as fuck because they know that creating a world where every snowflake thinks they are a chief creates a situation where you ain't got enough Injuns to do the work. America, on the other hand, has allowed college growth to go off the god damned rails because it is a huge source of employment and good for pulling bodies out of the workforce for 4 years.
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Post by NOTTHOR on Oct 16, 2019 10:04:56 GMT -6
Yeah, I agree, so there is no reason to write a law like Virginia did with a 3rd trimester "mental health" carveout to permit abortions right up until the baby's head is in the birth canal. It's totally fucking stupid and it just throws red meat to the table pounding anti-abortion crowd. Groups of fringe nuts on both sides of shit like abortion and gay rights shit need to stop trying to spike the god damned ball on one another. Most people are fine with some shit in the middle, but when you try to make law on some shit that is outside that "99.9999999999999999999999999%" number it is just fucking stupid. I'm just glad we have effectively legalized chronic on the federal level if the states want to do it. Never thought I'd see a GOP POTUS letting that fly, but with the "Greatest Generation" all but gone it makes sense because the Boomers don't give a shit. I know the legal cool kidz like to bemoan Roe as poorly reasoned, but as far as I'm concerned it's a brilliant decision that does a fine job addressing the competing liberty interests and practical medical realities. And anyone who'd carry a healthy pregnancy almost to term who decides to abort instead of deliver has some seriously fucked up mental health issues of their own and needs counseling and psychiatric medication, not a fucking abortion. My brother-in-law and his wife who can't have children due to a heart condition would kill to be able to adopt that kid. Look, breh, you know my take on Roe. I'm totes fine with it if it were actually used in other shit to expand liberty and revoke some elements of the nanny state. But it ain't.
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Post by thunderhawk on Oct 16, 2019 10:29:41 GMT -6
2) Wealth tax. Again, it WILL NEVER HAPPEN. It's been tried in several European countries and failed miserably. So it's a fucking lie, which is exponentially worse than your garden variety lie because this fucking lie is her stupid funding mechanism for all of her I HAZ PLANS. 3) Free college. First, not every prole is going to college. Second, why should millionaire kids get free college? Third, how do admissions work at state schools when the system is flooded by people who now feel compelled to go to college when they'd be better off (and make far more money) in a trade? The right idea is to make college affordable for those who want to go, and make community college and trade schools super low cost. Duh. Again, this idiotic proposal will be funded by the never to be implemented wealth tax. Those two things are huge. The wealth tax she proposed in Senate was a 2% PER YEAR tax on wealth above $50 million and a 3% tax on wealth above $1 billion. The problems aside from what the distinguished gentleman above pointed out are that a lot of people in that range have completely illiquid assets and plenty of them are asset rich and cash poor. They would have to take on investors or bank financing that would suddenly impose all sorts of limitations on how they can run their businesses. It would be a feeding frenzy for guys like me, I-bankers and vulturistic PE funds, but it would be disastrous for asset prices because guys who need to stroke a 7 or 8 figure check to Uncle Sugar and need cash would have to agree to ridiculous terms to get financing if word was out they needed cash to pay taxes. If you want to tax wealth, you need to just let these guys get rich and hammer the ever living shit out of them on estate taxes and actually have someone who isn't bought off or incompetent write the fucking tax code. There are some guys who own publicly traded securities, like Warren Buffett, whose net worth is readily ascertainable, but every real estate developer, people from the Mars or Cargill family, etc. who have illiquid assets would seriously have to litigate against the god damned government EVERY YEAR to determine their net worth. It would be like property tax appeals on steroids because the amount of money on the line is so fucking big and you can't just have some apparatchik dictating the price because you have to give people due process. Free college. Oh my gawd. What a fucking disaster. Every effort the federal government has made to make college cheaper has made it increase exponentially in cost. The colleges have no market discipline whatsoever and it has led to insane bloat and people who are worthless as tits on a boar making ridiculous salaries for doing fuck all. The Germans and Japanese have this shit right. You get a god damned IQ test and if you ain't that smart, you ain't going to college, at least not in a state subsidized school. Your ass is going to trade school or straight into the work force. Hell, the state run schools are like 5 grand a year in Japan, but the bar to get into them is high as fuck because they know that creating a world where every snowflake thinks they are a chief creates a situation where you ain't got enough Injuns to do the work. America, on the other hand, has allowed college growth to go off the god damned rails because it is a huge source of employment and good for pulling bodies out of the workforce for 4 years. Yes. The German way is Darwinian but it works for the most part from a utilitarian perspective; exceptions being someone who's a late bloomer or has some latent talent, but those things seem to take care of themselves most the time, as people will at some point gravitate towards what they're good at and make it happen if they've got the motivation and basic means.
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Post by livingintheusa on Oct 16, 2019 10:55:11 GMT -6
She's still better than Shitler. I don't give a fuck about Uncle Joe and hope he just fades away. I do still like Pete and hope he can assfuck Trump in debates next year and make him look fucking silly. We all know that trump would put out ads and call him a fag. Dude my seven year old in the middle of an expletive-laced freakout is magnitudes better than Twitler. At least my kid knows who the good guys are. Tell him to speak up
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Post by TaterWanger on Oct 16, 2019 11:01:53 GMT -6
2) Wealth tax. Again, it WILL NEVER HAPPEN. It's been tried in several European countries and failed miserably. So it's a fucking lie, which is exponentially worse than your garden variety lie because this fucking lie is her stupid funding mechanism for all of her I HAZ PLANS. 3) Free college. First, not every prole is going to college. Second, why should millionaire kids get free college? Third, how do admissions work at state schools when the system is flooded by people who now feel compelled to go to college when they'd be better off (and make far more money) in a trade? The right idea is to make college affordable for those who want to go, and make community college and trade schools super low cost. Duh. Again, this idiotic proposal will be funded by the never to be implemented wealth tax. Those two things are huge. The wealth tax she proposed in Senate was a 2% PER YEAR tax on wealth above $50 million and a 3% tax on wealth above $1 billion. The problems aside from what the distinguished gentleman above pointed out are that a lot of people in that range have completely illiquid assets and plenty of them are asset rich and cash poor. They would have to take on investors or bank financing that would suddenly impose all sorts of limitations on how they can run their businesses. It would be a feeding frenzy for guys like me, I-bankers and vulturistic PE funds, but it would be disastrous for asset prices because guys who need to stroke a 7 or 8 figure check to Uncle Sugar and need cash would have to agree to ridiculous terms to get financing if word was out they needed cash to pay taxes. If you want to tax wealth, you need to just let these guys get rich and hammer the ever living shit out of them on estate taxes and actually have someone who isn't bought off or incompetent write the fucking tax code. There are some guys who own publicly traded securities, like Warren Buffett, whose net worth is readily ascertainable, but every real estate developer, people from the Mars or Cargill family, etc. who have illiquid assets would seriously have to litigate against the god damned government EVERY YEAR to determine their net worth. It would be like property tax appeals on steroids because the amount of money on the line is so fucking big and you can't just have some apparatchik dictating the price because you have to give people due process. Free college. Oh my gawd. What a fucking disaster. Every effort the federal government has made to make college cheaper has made it increase exponentially in cost. The colleges have no market discipline whatsoever and it has led to insane bloat and people who are worthless as tits on a boar making ridiculous salaries for doing fuck all. The Germans and Japanese have this shit right. You get a god damned IQ test and if you ain't that smart, you ain't going to college, at least not in a state subsidized school. Your ass is going to trade school or straight into the work force. Hell, the state run schools are like 5 grand a year in Japan, but the bar to get into them is high as fuck because they know that creating a world where every snowflake thinks they are a chief creates a situation where you ain't got enough Injuns to do the work. America, on the other hand, has allowed college growth to go off the god damned rails because it is a huge source of employment and good for pulling bodies out of the workforce for 4 years. I all for taxing the fuck out of the estates of the uber wealthy. If successfully implemented it encourages spending (trickle down motherfuckers). But how do you propose dealing with all these assholes that are shielding wealth in offshore tax havens. Panama papers bruh.
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Post by livingintheusa on Oct 16, 2019 12:23:10 GMT -6
I hear you those fuckink uber drivers are making way to much
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Post by NOTTHOR on Oct 16, 2019 12:41:01 GMT -6
I hear you those fuckink uber drivers are making way to much Given that Uber lost $5.5 billion last quarter, that might be true. Uber has been a great wealth transfer mechanism. People get subsidized rides paid for by some rich asshole who took a gamble on a huge capital contribution to Uber. Those millionaires that ran the taxi cartels all got wiped the fuck out when the medallion values crashed. I think Trump's boy Cohen was one such guy. The drivers get a flex time job where they don't have to deal with the general public in recurring volume at some place like McDonald's. I wonder what that business model will look like once they've pissed away all their seed financing. The market cap is at $54 billion so they have plenty of room to issue stock for another couple of years to fund losses.
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Post by egadsto on Oct 16, 2019 21:15:15 GMT -6
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Post by socal on Oct 17, 2019 3:52:19 GMT -6
2) Wealth tax. Again, it WILL NEVER HAPPEN. It's been tried in several European countries and failed miserably. So it's a fucking lie, which is exponentially worse than your garden variety lie because this fucking lie is her stupid funding mechanism for all of her I HAZ PLANS. 3) Free college. First, not every prole is going to college. Second, why should millionaire kids get free college? Third, how do admissions work at state schools when the system is flooded by people who now feel compelled to go to college when they'd be better off (and make far more money) in a trade? The right idea is to make college affordable for those who want to go, and make community college and trade schools super low cost. Duh. Again, this idiotic proposal will be funded by the never to be implemented wealth tax. Those two things are huge. The wealth tax she proposed in Senate was a 2% PER YEAR tax on wealth above $50 million and a 3% tax on wealth above $1 billion. The problems aside from what the distinguished gentleman above pointed out are that a lot of people in that range have completely illiquid assets and plenty of them are asset rich and cash poor. They would have to take on investors or bank financing that would suddenly impose all sorts of limitations on how they can run their businesses. It would be a feeding frenzy for guys like me, I-bankers and vulturistic PE funds, but it would be disastrous for asset prices because guys who need to stroke a 7 or 8 figure check to Uncle Sugar and need cash would have to agree to ridiculous terms to get financing if word was out they needed cash to pay taxes. If you want to tax wealth, you need to just let these guys get rich and hammer the ever living shit out of them on estate taxes and actually have someone who isn't bought off or incompetent write the fucking tax code. There are some guys who own publicly traded securities, like Warren Buffett, whose net worth is readily ascertainable, but every real estate developer, people from the Mars or Cargill family, etc. who have illiquid assets would seriously have to litigate against the god damned government EVERY YEAR to determine their net worth. It would be like property tax appeals on steroids because the amount of money on the line is so fucking big and you can't just have some apparatchik dictating the price because you have to give people due process. Free college. Oh my gawd. What a fucking disaster. Every effort the federal government has made to make college cheaper has made it increase exponentially in cost. The colleges have no market discipline whatsoever and it has led to insane bloat and people who are worthless as tits on a boar making ridiculous salaries for doing fuck all. The Germans and Japanese have this shit right. You get a god damned IQ test and if you ain't that smart, you ain't going to college, at least not in a state subsidized school. Your ass is going to trade school or straight into the work force. Hell, the state run schools are like 5 grand a year in Japan, but the bar to get into them is high as fuck because they know that creating a world where every snowflake thinks they are a chief creates a situation where you ain't got enough Injuns to do the work. America, on the other hand, has allowed college growth to go off the god damned rails because it is a huge source of employment and good for pulling bodies out of the workforce for 4 years. After you guys are done jerking each other off, maybe read her actual plans where she addresses your issues directly... then respond with issues on what is actually in her plans instead of your strawmen. elizabethwarren.com/plans/affordable-higher-educationelizabethwarren.com/plans/ultra-millionaire-taxOther Plans
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Post by egadsto on Oct 17, 2019 8:53:18 GMT -6
Those two things are huge. The wealth tax she proposed in Senate was a 2% PER YEAR tax on wealth above $50 million and a 3% tax on wealth above $1 billion. The problems aside from what the distinguished gentleman above pointed out are that a lot of people in that range have completely illiquid assets and plenty of them are asset rich and cash poor. They would have to take on investors or bank financing that would suddenly impose all sorts of limitations on how they can run their businesses. It would be a feeding frenzy for guys like me, I-bankers and vulturistic PE funds, but it would be disastrous for asset prices because guys who need to stroke a 7 or 8 figure check to Uncle Sugar and need cash would have to agree to ridiculous terms to get financing if word was out they needed cash to pay taxes. If you want to tax wealth, you need to just let these guys get rich and hammer the ever living shit out of them on estate taxes and actually have someone who isn't bought off or incompetent write the fucking tax code. There are some guys who own publicly traded securities, like Warren Buffett, whose net worth is readily ascertainable, but every real estate developer, people from the Mars or Cargill family, etc. who have illiquid assets would seriously have to litigate against the god damned government EVERY YEAR to determine their net worth. It would be like property tax appeals on steroids because the amount of money on the line is so fucking big and you can't just have some apparatchik dictating the price because you have to give people due process. Free college. Oh my gawd. What a fucking disaster. Every effort the federal government has made to make college cheaper has made it increase exponentially in cost. The colleges have no market discipline whatsoever and it has led to insane bloat and people who are worthless as tits on a boar making ridiculous salaries for doing fuck all. The Germans and Japanese have this shit right. You get a god damned IQ test and if you ain't that smart, you ain't going to college, at least not in a state subsidized school. Your ass is going to trade school or straight into the work force. Hell, the state run schools are like 5 grand a year in Japan, but the bar to get into them is high as fuck because they know that creating a world where every snowflake thinks they are a chief creates a situation where you ain't got enough Injuns to do the work. America, on the other hand, has allowed college growth to go off the god damned rails because it is a huge source of employment and good for pulling bodies out of the workforce for 4 years. After you guys are done jerking each other off, maybe read her actual plans where she addresses your issues directly... then respond with issues on what is actually in her plans instead of your strawmen. elizabethwarren.com/plans/affordable-higher-educationelizabethwarren.com/plans/ultra-millionaire-taxOther Plans
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Post by thunderhawk on Oct 17, 2019 9:37:49 GMT -6
Her “ultra millionaire” annual tax is an obviously and laughably unworkable scam. Therefore everything funded by it is a scam. The woman is full of shit.
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Other
Sports Moderator
Interim Master of the Universe
Posts: 5,192
Tits or GTFO: GTFO
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Post by Other on Oct 17, 2019 13:42:27 GMT -6
Those two things are huge. The wealth tax she proposed in Senate was a 2% PER YEAR tax on wealth above $50 million and a 3% tax on wealth above $1 billion. The problems aside from what the distinguished gentleman above pointed out are that a lot of people in that range have completely illiquid assets and plenty of them are asset rich and cash poor. They would have to take on investors or bank financing that would suddenly impose all sorts of limitations on how they can run their businesses. It would be a feeding frenzy for guys like me, I-bankers and vulturistic PE funds, but it would be disastrous for asset prices because guys who need to stroke a 7 or 8 figure check to Uncle Sugar and need cash would have to agree to ridiculous terms to get financing if word was out they needed cash to pay taxes. If you want to tax wealth, you need to just let these guys get rich and hammer the ever living shit out of them on estate taxes and actually have someone who isn't bought off or incompetent write the fucking tax code. There are some guys who own publicly traded securities, like Warren Buffett, whose net worth is readily ascertainable, but every real estate developer, people from the Mars or Cargill family, etc. who have illiquid assets would seriously have to litigate against the god damned government EVERY YEAR to determine their net worth. It would be like property tax appeals on steroids because the amount of money on the line is so fucking big and you can't just have some apparatchik dictating the price because you have to give people due process. Free college. Oh my gawd. What a fucking disaster. Every effort the federal government has made to make college cheaper has made it increase exponentially in cost. The colleges have no market discipline whatsoever and it has led to insane bloat and people who are worthless as tits on a boar making ridiculous salaries for doing fuck all. The Germans and Japanese have this shit right. You get a god damned IQ test and if you ain't that smart, you ain't going to college, at least not in a state subsidized school. Your ass is going to trade school or straight into the work force. Hell, the state run schools are like 5 grand a year in Japan, but the bar to get into them is high as fuck because they know that creating a world where every snowflake thinks they are a chief creates a situation where you ain't got enough Injuns to do the work. America, on the other hand, has allowed college growth to go off the god damned rails because it is a huge source of employment and good for pulling bodies out of the workforce for 4 years. After you guys are done jerking each other off, maybe read her actual plans where she addresses your issues directly... then respond with issues on what is actually in her plans instead of your strawmen. elizabethwarren.com/plans/affordable-higher-educationelizabethwarren.com/plans/ultra-millionaire-taxOther Plans I vote for Other Plans. Such as Other Plans on getting drunk on this Mutha Fuckin’ airplane! Wheels up Bitches!
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Post by NOTTHOR on Oct 17, 2019 13:45:41 GMT -6
Those two things are huge. The wealth tax she proposed in Senate was a 2% PER YEAR tax on wealth above $50 million and a 3% tax on wealth above $1 billion. The problems aside from what the distinguished gentleman above pointed out are that a lot of people in that range have completely illiquid assets and plenty of them are asset rich and cash poor. They would have to take on investors or bank financing that would suddenly impose all sorts of limitations on how they can run their businesses. It would be a feeding frenzy for guys like me, I-bankers and vulturistic PE funds, but it would be disastrous for asset prices because guys who need to stroke a 7 or 8 figure check to Uncle Sugar and need cash would have to agree to ridiculous terms to get financing if word was out they needed cash to pay taxes. If you want to tax wealth, you need to just let these guys get rich and hammer the ever living shit out of them on estate taxes and actually have someone who isn't bought off or incompetent write the fucking tax code. There are some guys who own publicly traded securities, like Warren Buffett, whose net worth is readily ascertainable, but every real estate developer, people from the Mars or Cargill family, etc. who have illiquid assets would seriously have to litigate against the god damned government EVERY YEAR to determine their net worth. It would be like property tax appeals on steroids because the amount of money on the line is so fucking big and you can't just have some apparatchik dictating the price because you have to give people due process. Free college. Oh my gawd. What a fucking disaster. Every effort the federal government has made to make college cheaper has made it increase exponentially in cost. The colleges have no market discipline whatsoever and it has led to insane bloat and people who are worthless as tits on a boar making ridiculous salaries for doing fuck all. The Germans and Japanese have this shit right. You get a god damned IQ test and if you ain't that smart, you ain't going to college, at least not in a state subsidized school. Your ass is going to trade school or straight into the work force. Hell, the state run schools are like 5 grand a year in Japan, but the bar to get into them is high as fuck because they know that creating a world where every snowflake thinks they are a chief creates a situation where you ain't got enough Injuns to do the work. America, on the other hand, has allowed college growth to go off the god damned rails because it is a huge source of employment and good for pulling bodies out of the workforce for 4 years. After you guys are done jerking each other off, maybe read her actual plans where she addresses your issues directly... then respond with issues on what is actually in her plans instead of your strawmen. elizabethwarren.com/plans/affordable-higher-educationelizabethwarren.com/plans/ultra-millionaire-taxOther PlansHey numbnuts, I did respond with what is in her plan. It is the same fucking harebrained scheme she proposed as a senator that landed with a god damned thud. 2% and 3% rates. Her shit about some "formulaic valuation" is fucking nonsense. Any formula of the value of an income generating asset is subject to a multiple or discounted cash flow. A fucking hovel in San Fran that has a renter on rent control from the '70's is going to generate less income than a fucking 1981 duplex in Coralville. But one will be worth $2-3 million more than the other. As much as people try to reduce valuation to a formula, there's no science to it and that is why it takes fucking years to close massive estates. Furthermore, fuck this plan. The god damned income tax started as something that was supposed to hit a few hundred of the richest families and then the AMT was the same fucking thing. Once these assholes realize it takes 7 years of fucking litigation to calculate a year of value and the district and appellate courts are flooded with reams of shitpaper from valuation firms, CPAs and lawyers, the government will come to the realization that they should just limit it to taxing cash, bonds and publicly traded securities and they'll decide to go ahead and drop the floor from $50 million to $10 million to $1 million.
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Post by egadsto on Oct 17, 2019 20:57:08 GMT -6
Just another day in TrumpLand.
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Post by thunderhawk on Oct 18, 2019 9:21:59 GMT -6
Hey numbnuts, I did respond with what is in her plan. It is the same fucking harebrained scheme she proposed as a senator that landed with a god damned thud. 2% and 3% rates. Her shit about some "formulaic valuation" is fucking nonsense. Any formula of the value of an income generating asset is subject to a multiple or discounted cash flow. A fucking hovel in San Fran that has a renter on rent control from the '70's is going to generate less income than a fucking 1981 duplex in Coralville. But one will be worth $2-3 million more than the other. As much as people try to reduce valuation to a formula, there's no science to it and that is why it takes fucking years to close massive estates. Furthermore, fuck this plan. The god damned income tax started as something that was supposed to hit a few hundred of the richest families and then the AMT was the same fucking thing. Once these assholes realize it takes 7 years of fucking litigation to calculate a year of value and the district and appellate courts are flooded with reams of shitpaper from valuation firms, CPAs and lawyers, the government will come to the realization that they should just limit it to taxing cash, bonds and publicly traded securities and they'll decide to go ahead and drop the floor from $50 million to $10 million to $1 million. Why don't we just have a flat ten cent transaction tax on every transaction over, say, two bucks? or five? Perhaps increase it to a buck on every transaction over, say, a thousand bucks. It's not a scaling tax per se on the value of something; it's a tax on the transaction itself. Avoidance would be negligible, because most people won't even bend their fat asses over to pick up a dime, and if you're buying a $1700 TV, you're not gonna be dissuaded by paying an extra buck. This would bring in huge amounts of money with negligible pain and could be used to fund all manner of public necessities. My response to anyone who claims this would reduce economic activity or punish "hardworking Americans" is simple: IT'S A FUCKING DIME.
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Post by NOTTHOR on Oct 18, 2019 9:36:36 GMT -6
Hey numbnuts, I did respond with what is in her plan. It is the same fucking harebrained scheme she proposed as a senator that landed with a god damned thud. 2% and 3% rates. Her shit about some "formulaic valuation" is fucking nonsense. Any formula of the value of an income generating asset is subject to a multiple or discounted cash flow. A fucking hovel in San Fran that has a renter on rent control from the '70's is going to generate less income than a fucking 1981 duplex in Coralville. But one will be worth $2-3 million more than the other. As much as people try to reduce valuation to a formula, there's no science to it and that is why it takes fucking years to close massive estates. Furthermore, fuck this plan. The god damned income tax started as something that was supposed to hit a few hundred of the richest families and then the AMT was the same fucking thing. Once these assholes realize it takes 7 years of fucking litigation to calculate a year of value and the district and appellate courts are flooded with reams of shitpaper from valuation firms, CPAs and lawyers, the government will come to the realization that they should just limit it to taxing cash, bonds and publicly traded securities and they'll decide to go ahead and drop the floor from $50 million to $10 million to $1 million. Why don't we just have a flat ten cent transaction tax on every transaction over, say, two bucks? or five? Perhaps increase it to a buck on every transaction over, say, a thousand bucks. It's not a scaling tax per se on the value of something; it's a tax on the transaction itself. Avoidance would be negligible, because most people won't even bend their fat asses over to pick up a dime, and if you're buying a $1700 TV, you're not gonna be dissuaded by paying an extra buck. This would bring in huge amounts of money with negligible pain and could be used to fund all manner of public necessities. My response to anyone who claims this would reduce economic activity or punish "hardworking Americans" is simple: IT'S A FUCKING DIME. State and local general sales taxes bring in something like $400 billion in a year. But that is with places like NY and Chicago that have rates north of 10%. If you implement a federal regime that is effectively under 1%, my guess is you'd be lucky to raise $50 billion. That ain't even 10% of the annual deficit.
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Post by thunderhawk on Oct 18, 2019 11:22:55 GMT -6
Why don't we just have a flat ten cent transaction tax on every transaction over, say, two bucks? or five? Perhaps increase it to a buck on every transaction over, say, a thousand bucks. It's not a scaling tax per se on the value of something; it's a tax on the transaction itself. Avoidance would be negligible, because most people won't even bend their fat asses over to pick up a dime, and if you're buying a $1700 TV, you're not gonna be dissuaded by paying an extra buck. This would bring in huge amounts of money with negligible pain and could be used to fund all manner of public necessities. My response to anyone who claims this would reduce economic activity or punish "hardworking Americans" is simple: IT'S A FUCKING DIME. State and local general sales taxes bring in something like $400 billion in a year. But that is with places like NY and Chicago that have rates north of 10%. If you implement a federal regime that is effectively under 1%, my guess is you'd be lucky to raise $50 billion. That ain't even 10% of the annual deficit. This would include every transaction, including securities, bonds, etc. Everything. It would be in addition to current taxes. I don't like taxes, but I dislike deficits and debt even more.
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Post by Ginger on Oct 18, 2019 12:38:20 GMT -6
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Post by Ginger on Oct 18, 2019 12:59:54 GMT -6
Such a fucking dumbass
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Post by thunderhawk on Oct 20, 2019 22:16:42 GMT -6
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Post by GhostMod 5000 on Oct 21, 2019 9:58:38 GMT -6
It's much better to spend our money on maintaining a crumbling empire that making it so people don't die of preventable diseases. I much more prefer to spend 15% of my salary on a health plan that still consts a ton of money each time I decide to use it. This is obviously the fiscally sensible option going forward.
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Post by thunderhawk on Oct 21, 2019 10:47:27 GMT -6
It's much better to spend our money on maintaining a crumbling empire that making it so people don't die of preventable diseases. I much more prefer to spend 15% of my salary on a health plan that still consts a ton of money each time I decide to use it. This is obviously the fiscally sensible option going forward. Did you read the article? They have no way to pay for what they're promising. And I suspect they know it. So they're deliberately lying to you.
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Post by thunderhawk on Oct 21, 2019 10:56:02 GMT -6
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