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Topic: In other news ...

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Mdot21

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Re: In other news ...
« Reply #1862 on: January 27, 2021, 03:10:31 PM »
Go ahead and put a call into the CEO's of Google, Facebook, Apple, Microsoft, Twitter, etc.

Let them know you mean it.
Their compensation is pretty much 100% tied to stock these days- and for most part are only paying capital gains rates- which is a much lower % than normal tax rates would be in their bracket.

Whole system is F*%$$D. You have people working their asses off at some shitty middle management job making $120,000k a year paying 30-35%+ in taxes while you might have an exec at that same company being compensated in millions of dollars worth of stock options on top of getting all kinds of perks like taking the company jet on vacations and having the company pay for his vacations and all kinds of shit and then paying 15-20% in tax on sale of their stock (capital gains) and then they have the best tax attorneys in the world to use every trick under the sun to bring that % down even further.

Funny little way they find to just rig system more and more.

Cincydawg

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Re: In other news ...
« Reply #1863 on: January 27, 2021, 03:23:45 PM »
I get stock options.  They are treated as earned income. 

A Big Tax Deal is "carried interest", which does not apply to normal executive compensation.


Mdot21

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Re: In other news ...
« Reply #1864 on: January 27, 2021, 03:35:09 PM »
I get stock options.  They are treated as earned income.

A Big Tax Deal is "carried interest", which does not apply to normal executive compensation.
you aren't getting the same stock options those top level guys are getting.....and well those ones- they aren't taxed as income- if they hold them that is. Most sell a little- hold a lot.

Cincydawg

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Re: In other news ...
« Reply #1865 on: January 27, 2021, 03:48:06 PM »
They are the same stock options anyone gets as compensation.  There can be no "special kind" for anyone else.  

Now, I sell my options, if you exercise them and get stock, you can delay the tax bill on  further appreciation.  There are also Restricted Stock Units and other means of delayed compensation.

But stock options show up as earned income.  For everyone.

longhorn320

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Re: In other news ...
« Reply #1866 on: January 27, 2021, 03:49:16 PM »
The effective tax rate for the nation as a whole is aprox 13%

the top 20% of compensated tax payers have an effective tax rate of aprox 23%

The top 40% of compensated taxpayers pay over 96% of this nations tax liability
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Cincydawg

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Re: In other news ...
« Reply #1867 on: January 27, 2021, 03:56:25 PM »
One issue is with earned versus unearned income.  Let's say I have $100 million.  I can invest that in municipal bonds and get 1-2% interest tax free on that.  If I live on a million a year, I never touch principal (inflation  would) and pay no income taxes.  Or if I own a company and don't sell it, I pay no income tax because I have no income.  If I see part of it, having held it a year, I pay capital gains taxes on the unearned income.  I don't pay FICA on any of it.


longhorn320

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Re: In other news ...
« Reply #1868 on: January 27, 2021, 04:01:37 PM »
One issue is with earned versus unearned income.  Let's say I have $100 million.  I can invest that in municipal bonds and get 1-2% interest tax free on that.  If I live on a million a year, I never touch principal (inflation  would) and pay no income taxes.  Or if I own a company and don't sell it, I pay no income tax because I have no income.  If I see part of it, having held it a year, I pay capital gains taxes on the unearned income.  I don't pay FICA on any of it.


how did you get the $100 million
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

Cincydawg

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Re: In other news ...
« Reply #1869 on: January 27, 2021, 04:05:29 PM »
If I start a company that does well, for example, I could end up with the $100 million in net asset value.  I'd probably have paid myself salary of course on which I'd pay income taxes and FICA.  But the company value would be mine if I retained sole ownership.

This is usually how folks GET rich.


Mdot21

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Re: In other news ...
« Reply #1870 on: January 27, 2021, 04:12:31 PM »
California is dying. Between 2008-2019 alone, 18,000 businesses have left California to relocate in other states. HP announced in December that they were moving their headquarters from California and relocating to Houston, TX and Oracle also announced in December they were doing the same and moving to Ausitn, TX.

Elon Musk already moved to Austin, TX and plans on relocating Tesla's headquarters there.



https://www.youtube.com/watch?v=Ez90rXhMWjE

847badgerfan

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Re: In other news ...
« Reply #1871 on: January 27, 2021, 04:17:48 PM »
Not going to post the LA Times' "Make America California Again" article, but feel free to search it out.
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betarhoalphadelta

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Re: In other news ...
« Reply #1872 on: January 27, 2021, 04:20:24 PM »
It has just been exacerbated and made worse by things like the citizens united ruling.
The Citizens United ruling was a nothingburger. 

SpeechNow.org v FEC is the droid you're looking for. 

Mdot21

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Re: In other news ...
« Reply #1873 on: January 27, 2021, 04:22:53 PM »
Not going to post the LA Times' "Make America California Again" article, but feel free to search it out.
California has around 27% of all homelessness in the country. 53% of all Califonrian's are considering leaving the state. 63% of millennials are considering leaving the state. 66% of people in the SF Bay Area said they would considering leaving California if they could always work from home.

If the entire US became "California" where the hell would we all go to flee? Canada probably won't take us. Mexico? 

847badgerfan

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Re: In other news ...
« Reply #1874 on: January 27, 2021, 04:25:59 PM »
I'd probably head to Sardinia. 
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Mdot21

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Re: In other news ...
« Reply #1875 on: January 27, 2021, 04:28:10 PM »
The Citizens United ruling was a nothingburger.

SpeechNow.org v FEC is the droid you're looking for.
citizens united ruling overturned election spending restrictions. Opened pandoras box to allow corporations and the wealthy to spend unlimited funds on campaign advertising so long as they aren't formally co-ordinating with a candidate. the super PAC became a thing because of it. in the 8 years after it was passed, super pacs alone spent $3 billion to federal elections. It's hardly a nothingburger. 

 

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