164 replies to this topic

[Rogerdodger]

GETTING OUT: 4,000+ Americans ditched their citizenship over taxes...

Former Tax Payers Renounce U.S. Citizenship
Rather than deal with the complexities of U.S. tax law, Americans living overseas are increasingly renouncing their citizenship in order to avoid paying their income taxes.
According to National Taxpayer Advocate Nina E. Olson, approximately 4,000 people gave up their citizenship from fiscal year 2005 to FY 2010. Renunciations increased sharply within the past three years, from 146 in FY 2008 to 1,534 in FY 2010.
And during the first two quarters of FY 2011 alone, 1,024 Americans ditched their citizenship.
The advocate’s report cites two reasons for the renunciations. First, many taxpayers abroad say they are confused “by the complex legal and reporting requirements they face and are overwhelmed by the prospect of having to comply with them.”
Second, others have accused the Internal Revenue Service (IRS) of “bait and switch” tactics, telling Americans they can resolve their unpaid taxes under an “older voluntary disclosure programs with the promise of reduced penalties, only to find themselves subjected to steeper penalties.”

The list of people in favor of higher taxes and who pay extra taxes can't be found.


The list of people clamoring for higher taxes but who personally use elaborate schemes to pay fewer taxes grows daily.

Edited by Rogerdodger, 25 January 2012 - 10:54 AM.

[Rogerdodger]

Who wants higher taxes but goes to court to NOT PAY them?

IRS Must Pay Berkshire $23.1 Million

Edited by Rogerdodger, 25 January 2012 - 11:24 AM.

[Rogerdodger]

REPORT: Warren Buffett's Secretary Makes Between $200,000 and $500,000 Per Year...

Here’s what Buffett said:

Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.

In the recent State of the Union speech at one point the President said that Buffet's secretary paid more taxes than Buffet who paid $6,938,744.
Maybe he mis-spoke and meant to say a higher rate.
But rather than just voluntarily paying more taxes, which Buffet calls for, he goes to court to pay less, and gets $23,000,000 from the IRS.

Actions speak louder than political posturing words.

Edited by Rogerdodger, 26 January 2012 - 11:24 AM.

[Rogerdodger]

36 Presidential aides owe $833,000 in back taxes...

A new report just out from the Internal Revenue Service reveals that 36 Presidential office staff owe the country $833,970 in back taxes.
457 aides pulled down more than $37 million last year

Edited by Rogerdodger, 26 January 2012 - 12:20 PM.

[stocks]

The Golden State Is Crumbling

California's dominant ruling class—consisting of public-employee unions, green jihadis, and Democratic machine politicians—has no real use for science as Gilman saw it: as a way to create prosperity for its citizens. Instead, the prevailing credo of the state has been how to do everything possible to return to its pre-settlement condition, with little regard for what that means to the average Californian.

You Thought The N. Dakota Oil Find Was Big? California’s is bigger.

The Monterey/Santos oil field in California is estimated to have four times the technically recoverable oil as the Bakken Oil Field in North Dakota.
Harold Hamm (billionaire owner of Continental oil) believes that the San Joaquin Monterey California fields are the next big horizontal drilling play.

Comments:

“This will only work when horizontal drilling has advanced to where they can drill oil in California from Nevada.”

“Don’t get your hopes up we are talking CA here. The majority of our legislature believes that pumping oil from the ground is raping GAIA.”




link

Edited by stocks, 02 February 2012 - 05:29 PM.

[Rogerdodger]

SOAK THE RICH! (While impoverishing the government!)

The dumb masses continue to support stupid "populist" politicians.

Tax revenue plunges in UK after 50% rate implemented...
50% tax rate 'failing to boost revenues’
21 Feb 2012
The amount of income tax paid fell sharply last month in the first formal indication that the new 50p higher rate is not raising the expected amount of revenue.
The Treasury received £10.35 billion in income tax payments from those paying by self-assessment last month, a drop of £509 million compared with January 2011. Most other taxes produced higher revenues over the same period.

Senior sources said that the first official figures indicated that there had been “manoeuvring” by well-off Britons to avoid the new higher rate. The figures will add to pressure on the Coalition to drop the levy amid fears it is forcing entrepreneurs to relocate abroad.

The self-assessment returns from January, when most income tax is paid by the better-off, have been eagerly awaited by the Treasury and government ministers as they provide the first evidence of the success, or failure, of the 50p rate. It is the first year following the introduction of the 50% rate which had been expected to boost tax revenues from self-assessment by more than £1billion.



Maybe raising taxes to 100% will work even better.

Edited by Rogerdodger, 22 February 2012 - 10:28 AM.

[stocks]

Illinois: the Deadbeat state

Owes billions in unpaid bills

Chicago Called Most Corrupt City In Nation

link


Stockton California, Population 292,000, Takes Steps Toward Bankruptcy

Once again we see fraud and untenable union benefits at the heart of the problem. The bondholders should suffer, and so should the unions. Those contracts should be wiped out in bankruptcy.

I commend the actions of the city manager to not tax its citizens to death to meet ridiculous, probably fraudulent, union benefits that should never have been granted.

Chapter 9 bankruptcy was established to deal with these situations. Unions better get used to it, because more actions like this are coming.

link

[Rogerdodger]

POLL: Vast majority say rich already pay fair share...
The big majority opted for a lower tax bill when asked to choose specific rates; precisely 75 percent said the right level for top earners was 30 percent or below.
The current rate for top earners is 35 percent. Only 4 percent thought it was appropriate to take 40 percent, which is approximately the level that the administration is seeking from January 2013 onward.
The Hill poll also found that 73 percent of likely voters believe corporations should pay a lower rate than the current 35 percent.


After listening to Pravda's "news" reports... WHOODA THOUGHT?

Edited by Rogerdodger, 28 February 2012 - 10:36 AM.

[stocks]

The Golden State Is Crumbling

If Stockton Is Broke, Why Isn’t San Diego?

Stanford professor Joe Nation, a former Democratic assemblyman, argued that “from Stockton to San Diego, government pension costs are crushing local governments.” The article explained: “Based on economic and finance standards used everywhere except in the public pension world, the top 24 independent pension systems are collectively $136 billion in debt and have only 54 cents for every dollar they owe. In nearly every municipality, employee pensions are being prioritized over libraries, parks, street maintenance, health care and public safety.”

Poor cities, such as Vallejo and Stockton, are going to face fiscal disaster first, but the problem is spreading across California, and there’s nothing much the unions can do once cities start running out of money.


link

[Rogerdodger]

PAY YOUR TAXES, WARREN!

This guy's a piece of work.
He complains about the rich not paying enough in taxes then sues the government so HE won't have to pay???

Warren Buffet's NetJets in November sued the U.S., saying the federal government had wrongly imposed taxes, interest and penalties totaling more than $642.7 million.
NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), was countersued by the U.S. over $366 million in taxes and penalties.
NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed.

PLEEZE!

Edited by Rogerdodger, 10 March 2012 - 11:44 AM.