The Democratic Presidential Debates

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  • ecdanc
    ecdanc Posts: 1,814
    How does one make a billion dollars honestly?
  • mickeyrat
    mickeyrat Posts: 44,608
    ask warren buffet.
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  • ecdanc
    ecdanc Posts: 1,814
    mickeyrat said:
    ask warren buffet.
    I’m asking you. 
  • mickeyrat
    mickeyrat Posts: 44,608
    ecdanc said:
    mickeyrat said:
    ask warren buffet.
    I’m asking you. 
    since I havent made a billion dollars honestly or otherwise, perhaps you should ask those who seem to have done so. Buffet being one example.
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • Spiritual_Chaos
    Spiritual_Chaos Posts: 31,510
    edited February 2020
    ecdanc said:
    How does one make a billion dollars honestly?
    its up to the laws and tax codes to make sure they do it honestly. 

    I reckon a roughly 25% tax on salarys and then an extra 20% on everything above 5-6000 a month is resonable. 


    • 0% from 0 dollars to 2000 dollars
    • Circa 25%: from 2000 dollats  to 5000 dollars
    • 25%+ 20%: from 5000 dollars to 6000 dollars
    • 25%+ 25%: above 6000 dollars

    I dont see a problem initself that people make money

    Post edited by Spiritual_Chaos on
    "Mostly I think that people react sensitively because they know you’ve got a point"
  • mrussel1
    mrussel1 Posts: 30,887
    ecdanc said:
    How does one make a billion dollars honestly?
    Have a great idea,  work it up,  sell out to equity or go public.  
  • mrussel1
    mrussel1 Posts: 30,887
    ecdanc said:
    mickeyrat said:
    ask warren buffet.
    I’m asking you. 
    What did Bloomberg do that was dishonest? That's a less ambiguous question that should be easy to answer. 
  • mrussel1
    mrussel1 Posts: 30,887
    Spiritual_Chaos said:
    ecdanc said:
    How does one make a billion dollars honestly?
    its up to the laws and tax codes to make sure they do it honestly. 

    I reckon a roughly 25% tax on salarys and then an extra 20% on everything above 5-6000 a month is resonable. 


    • 0% from 0 dollars to 2000 dollars
    • Circa 25%: from 2000 dollats  to 5000 dollars
    • 25%+ 20%: from 5000 dollars to 6000 dollars
    • 25%+ 25%: above 6000 dollars

    I dont see a problem initself that people make money

    I don't know that I agree with your rates but I agree with your concept.  But Sanders did say there should be no billionaires.  Under that concept,  at some point the tax rate must be 100%.  https://www.google.com/amp/s/amp.cnn.com/cnn/2019/09/24/politics/bernie-sanders-ultra-wealth-tax-billionaires/index.html
  • pjl44
    pjl44 Posts: 10,554
    ecdanc said:
    How does one make a billion dollars honestly?
    I can get just about anything delivered to my door, sometimes within a couple hours. And I can stream a couple movies while I wait. Bezos can buy an island for all I care.
  • brianlux
    brianlux Moving through All Kinds of Terrain. Posts: 43,665
    ecdanc said:
    brianlux said:
    mcgruff10 said:
    brianlux said:
    mcgruff10 said:
    https://www.nytimes.com/interactive/2020/01/30/us/politics/democratic-presidential-candidates-quiz.html
    @brianlux

    Thank you!

    I got Tom Steyer, but he's not high on my list of favorite candidates. 
    Maybe he should be. ;)

    Here's where bias comes in:  I don't trust anyone with a net worth of $1.6 billion.
    I ♥️ you. 

    Aww shucks, now stop it- you're making me turn red!  :blush:

    Hey we got off to a bad start but we might just do alright after all!

    "It's a sad and beautiful world"
    -Roberto Benigni

  • brianlux
    brianlux Moving through All Kinds of Terrain. Posts: 43,665
    ecdanc said:
    How does one make a billion dollars honestly?

    My wife and I have had this discussion a thousand times.  I tell her, "There is not way a person can make a billion dollars without someone else suffering and/or being taken advantage of."  She, on the other hand, being of the eternally optimistic, positive in outlook, and forgiving type (with rare exceptions- she loathes Trump!) seems to think is is possible to be a good, decent- altruistic even- billionaire.  After almost 20 years, I'm thinking there is no way in hell she will ever convince me of that!
    "It's a sad and beautiful world"
    -Roberto Benigni

  • hedonist
    hedonist Posts: 24,524
    mrussel1 said:
    Spiritual_Chaos said:
    ecdanc said:
    How does one make a billion dollars honestly?
    its up to the laws and tax codes to make sure they do it honestly. 

    I reckon a roughly 25% tax on salarys and then an extra 20% on everything above 5-6000 a month is resonable. 


    • 0% from 0 dollars to 2000 dollars
    • Circa 25%: from 2000 dollats  to 5000 dollars
    • 25%+ 20%: from 5000 dollars to 6000 dollars
    • 25%+ 25%: above 6000 dollars

    I dont see a problem initself that people make money

    I don't know that I agree with your rates but I agree with your concept.  But Sanders did say there should be no billionaires.  Under that concept,  at some point the tax rate must be 100%.  https://www.google.com/amp/s/amp.cnn.com/cnn/2019/09/24/politics/bernie-sanders-ultra-wealth-tax-billionaires/index.html
    Don't agree with the rates either.

    Personally, I prefer a flat tax vs. some arbitrary group deciding what at what dollar level increased taxes are justified.  I'm not all that familiar with tax terminology so perhaps "flat" is incorrectly used, but my hope is that all pay the same percentage - perhaps with more give for those with lower income.

    By the way, I don't think $6000 a month is ridiculous.
  • brianlux
    brianlux Moving through All Kinds of Terrain. Posts: 43,665
    What do you all think of a VAT-  Value Added Tax- system?
    "It's a sad and beautiful world"
    -Roberto Benigni

  • hedonist
    hedonist Posts: 24,524
    Sounds like it's similar to retail taxes but already built into prices?

    As long as the system isn't misused (yeah right).  I mean, what about profit mark-ups?  And who would ensure the "added value" is actually worth X amount?

    I suppose any system can be manipulated, as I also imagine many tax lawyers pull their hair out over codes and laws and evasion.


  • brianlux
    brianlux Moving through All Kinds of Terrain. Posts: 43,665
    Yeah, I imagine pretty much any system can or will be abused.  I get the feeling that manipulation the tax with VAT might be harder to do.  Here's a good brief description of how VAT works:

    "It's a sad and beautiful world"
    -Roberto Benigni

  • Spiritual_Chaos
    Spiritual_Chaos Posts: 31,510
    edited February 2020
    what country does not have VAT? if it is what I think it is? We have 25% as default

    The value added tax (mervärdesskatt or moms) rate in Sweden is 25%, with exceptions for food and services like hotel room rental fees (12%), and for sales of publications, admission ticketsto cultural events and travel within Sweden (6%).[3]


    Is there a duscussion to not have a VAT system at all?

    Post edited by Spiritual_Chaos on
    "Mostly I think that people react sensitively because they know you’ve got a point"
  • ecdanc
    ecdanc Posts: 1,814
    All wealth belongs properly to labor. The accumulation of capital relies fundamentally upon exploitation (Buffett is actually a great example: his “honest” fortune derives almost entirely from “investment”).
  • ecdanc
    ecdanc Posts: 1,814
    pjl44 said:
    ecdanc said:
    How does one make a billion dollars honestly?
    I can get just about anything delivered to my door, sometimes within a couple hours. And I can stream a couple movies while I wait. Bezos can buy an island for all I care.
    And his warehouse workers can go fuck themselves, eh? 
  • Hi!
    Hi! Posts: 3,095
    https://apple.news/AF0MkRI8_SySmy9n-bJKxtg

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  • Spiritual_Chaos
    Spiritual_Chaos Posts: 31,510
    "Mostly I think that people react sensitively because they know you’ve got a point"
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