Don't tax the rich

[Kase]

Not sure if this is the right section for this.

I really hate to sound like a liberal, but this really pisses me off. How's that trickle down theory working out? I believe it should be called the " rolls downhill" theory instead.


Where Have You Gone Jack Welch? CEO Pay Rises While Stature Fades | Daily Ticker - Yahoo! Finance

 

[RockofStrength]

People who are high up in companies make a lot of money.

In other news, cows give milk and pigs make bacon. I fail to see the problem.

 

[Kase]

People who are high up in companies make a lot of money.

In other news, cows give milk and pigs make bacon. I fail to see the problem.

Yes, the money making is not the problem. But when someone is making lots of $$$$$ compared to the rest of the population, but not paying hardly anything in taxes, I start to have a problem.

Did you read the article?

 

[Kase]

Of the 100 top paid CEOs, 25 of them earned more than their companies' tax bill, including the CEOs of Bank of New York Mellon, Verizon, eBay, GE and Boeing. And astonishingly, the report found that the gap between CEO and average U.S. worker pay rose from a ratio of 263-to-1 in 2009 to 325-to-1 last year.

This ^^^

 

[RockofStrength]

Yes, the money making is not the problem. But when someone is making lots of $$$$$ compared to the rest of the population, but not paying hardly anything in taxes, I start to have a problem.

Did you read the article?

I did. The complaint is that their corporations don't pay as much in taxes: I didn't see any complaint about their personal tax rates. If the corp pays its taxes and still manages to pay out to its shareholders then why is it a problem if the CEO gets paid the megabucks?

 

[Mr Evilwrench]

Nearly, very nearly, 50% of us pay zero or less in taxes. The top 1% pay 38% of the taxes. You want to tax them harder? You don't happen to be one of those nearly 50%, do you? Why do the top 1% deserve to pay more? Seems to me they're already getting screwed.

 

[Kase]

I did. The complaint is that their corporations don't pay as much in taxes: I didn't see any complaint about their personal tax rates. If the corp pays its taxes and still manages to pay out to its shareholders then why is it a problem if the CEO gets paid the megabucks?

I definitely read that wrong haha. Fail on my part. Its still BS in the first place. Either CEO's are being paid too much, or companies aren't being taxed enough. There is no reason one person should be paid more than the entire companies taxes. Thats just rediculous

 

[Kase]

Nearly, very nearly, 50% of us pay zero or less in taxes. The top 1% pay 38% of the taxes. You want to tax them harder? You don't happen to be one of those nearly 50%, do you? Why do the top 1% deserve to pay more? Seems to me they're already getting screwed.

Losing $500K in taxes when you're being paid $1.5 mill just isn't nearly as bad as paying $10K in taxes when you're only paid $40K.

Do you think you could live on $1 mill a little easier than on $30K?

Beside that fact. people are losing their jobs like its going out of style, and these dbags are giving themselves RAISES. Maybe it's just me, but that seems pretty dumb.


Dang it, I'm coming off like a liberal...i knew it. Please accept my apologies lol

 

[YukYuPhat]

I definitely read that wrong haha. Fail on my part. Its still BS in the first place. Either CEO's are being paid too much, or companies aren't being taxed enough. There is no reason one person should be paid more than the entire companies taxes. Thats just rediculous

Instead of being angry at the CEO, why don't you go ask him how he did it? And then try to replicate that? I am tired of of people saying the rich suck! I WANT to be rich, and I will be some day. But if you just want to sit in front of your computer and whine, you are not going to get anywhere. And "trickle down" economics work.

Case in point (and I used this on my father). Rich man has extra money to spend, what does the rich man do? He buys a new car. Car costs $300,000. The company that makes the car employs 5 people at say 85,000 a year. Those guys go and buy Chevy's, which are a little cheaper. So Chevrolet, seeing that the demand is up, decides that it needs a new power washer on one of its assembly lines, because hey, they can afford it. They call up Little YukYuPhat Power Washing Systems and say hey, we want a $30,000 power washer to wash bolts for our line. Then LYYPPWS employs 25 people to make said power washer. Now, think about if the Rich paid LESS taxes, what do you think they would do with their money? Save, Invest, Spend, whatever! The point being, that if you get people with money to play with their money, not let them be afraid the Government is going take all it can, the above story works... Just multiply it!

 

[Mr Evilwrench]

No, you're coming off like a communist. These guys have convinced someone that what they're doing is worth what they're being paid. Good for them. Caveat emptor. The corporation answers to its shareholders, not you. The corporation pays its executives from money it makes selling stuff. They obviously think they're getting their money's worth. It's none of your business, unless you're one of the shareholders. Even then, you have a vote only as big as your share of the company.

Do what you can think of with your life. Don't be distracted by what others are doing. Don't think you're going to be one of the big executives? Guess what, neither am I. But I'm doing ok, and nothing is going to take me down. It's possible. Try to understand how you can have what you need, rather than wallowing in your jealousy of those who have "more", whatever that is.

 

[LPMan59]

Eat the rich; it's the only thing they're really good for

 

[Kase]

Eat the rich; it's the only thing they're really good for

Finally something I can agree with

No but really you all have very good points. But it still comes back to the question of " Do you honestly think it's ok for companies like GE to pay their CEO millions, while they pay $0 and 0cents in taxes???"


The word "fair" just doesn't quite come to mind. Thats exactly why they should have a flat tax for all companies and all people in general. If they had a flat tax of say %10 percent, I wwould be happy

 

[Zombiekilloftheweek]

Maybe they should worry more about the 51% of americans that dont pay any taxes instead of worrying about the 8% of the "RICH" that pay too little. Make it easier and cheaper for businesses to come here and open up shop and maybe this economy would be on the right track.

 

[Darral27]

GE is a unfair example of the rich paying taxes. Their CEO is a buddy of Obama's and running some sort of BS gov't job plan. Most large corporations pay more than enough taxes which brings around the real problem. Our gov't makes it way to easy and way to cheap to send our jobs over seas. I firmly believe if we went to a flat tax system for everybody, ended this "free trade agreement" and start charging tarrif's, and limit the amount of time somebody can live off gov't assistance we would be in good shape once the initial turmoil was over (initial turmoil being people who live off assistance throwing some really big fits). I for one think it is insane that somebody who makes 10 grand in a year can get that amount back in taxes in they have a few kids. We need to stop trying to blame the rich for all of our problems and put the fault where it should be.

 

[Mr Evilwrench]

And if you had a flat tax like that, these guys that are making millions would be paying less than they are. A smaller percentage of the total. Is that what you're getting at? I hope so. It's only FAIR, right? Make more, pay more; make less, pay less. Sort of like what we have now, only, you know, proportional. Rather than, um, not proportional. And I'm gonna tell you right now, I'm on the lower end of the scale. I don't pay any right now. No, I don't think it's fair, any more than I would if I was paying; and I wouldn't complain if it was fair.

 

[ArmedProgrammer]

...
No but really you all have very good points. But it still comes back to the question of " Do you honestly think it's ok for companies like GE to pay their CEO millions, while they pay $0 and 0cents in taxes???"
...

I think that large corporations are STUPID for paying huge amounts of money to empire building CEO's. I have worked as a consultant in many of the major energy companies of the world and I still find it INSANELY crazy. That said - it is their right to be stupid and pay that kind of money if they want to!

I honestly think that many times the corporation is not getting it's money's worth for what it pays for top executives.

That said - I don't think that CEO pay and taxation have (or ought to have) any relation to one another. They are two separate issues....

The only tie between them is made when some folks interject class envy into the mix. They try to convince you that Jack Welch is an evil bastard because he makes more money than you. They also try to convince you that GE is an evil entity because it pay low taxes. Don't fall for the sucker punch of class envy.

 

[snowrs]

I just wish everyone would pay their fair share. It really sucks that because my wife and I both work, paid for college and bust our asses that we have to give such a large portion of what we earn to people who get to sit home and collect my money.

 

[Hoosier8]

CEO pay is often heavily weighted with stock options. If they do poorly and the stock goes south, they may not make any money on stocks and only take home salary (good gig if you can get it).

The problem here is that Congress, at one point in time, decided to try to interfere in CEO pay and ended up creating the system we have today. Is CEO pay obscene compared to the rank and file? Sure it is but then we hire on for the job we hire on for and CEO's are no different.

My question would be is this:

How is trickle down government working?

 

[theledwarehouse]

GE is a unfair example of the rich paying taxes. Their CEO is a buddy of Obama's and running some sort of BS gov't job plan. Most large corporations pay more than enough taxes which brings around the real problem. Our gov't makes it way to easy and way to cheap to send our jobs over seas. I firmly believe if we went to a flat tax system for everybody, ended this "free trade agreement" and start charging tarrif's, and limit the amount of time somebody can live off gov't assistance we would be in good shape once the initial turmoil was over (initial turmoil being people who live off assistance throwing some really big fits). I for one think it is insane that somebody who makes 10 grand in a year can get that amount back in taxes in they have a few kids. We need to stop trying to blame the rich for all of our problems and put the fault where it should be.

I don't think it's the governments fault, it's really everyone's fault for jobs going over seas.

Let's take flashlights for example. My company sells both USA made lights and Chinese made lights. Which do you think we have always sold more of? The
Chinese made lights. Why you ask... Price. People have driven down prices to the point where if a company wants to survive, they have to find cheaper ways to make it. We have sold out quality products to save a few bucks.

 

[Hoosier8]

I just wish everyone would pay their fair share. It really sucks that because my wife and I both work, paid for college and bust our asses that we have to give such a large portion of what we earn to people who get to sit home and collect my money.

I have decided, since I pay a living wage in taxes, that my daughter, who now needs help, should milk the system for as much as she can to get back some of the money I paid in that I could use to help her with.

This is the type of mentality that the "redistribution" progressives promote.