Stephen King tells rich people upset over tax increases: ‘Tough s**t’

[damngrumpy]

Decades ago, I believe up until about 1958, the wealthy and corporate tax rate was near
45 or 48%. Today it is a fraction of that. The wealthy were given breaks and exemptions
for specific reasons, job creation, and investment in secondary communities and so on.
Over time the tax breaks were granted and the benefits only partially arrived. In some
cases companies actually benefited if they shipped the jobs overseas.
Its time to have people pay their taxes, and that should include their fair share of taxes.
No I am not talking about a 100% tax over a certain amount, that is equally as crazy as
not having them pay at all. We all benefit from infrastructure and societal advantages.
The rich who own companies that ship anything benefit even more and should pay their
share.
the one thing that I never did understand is the business silence or resistance in America to
Medicare, administered at the government level. The people would pay their medicare but
the workers would have coverage that would benefit business. Don't think so? Many American
companies do a lot of their business in Canada because we have a competitive edge because
we have a form of universal medicare. Stephen King just went up a notch on my respect meter.

 

[MHz]

Education leads to innovation. Innovation creates jobs. Apple would be an example of innovation creating jobs.

Apple pays almost no taxes in the US. someplace I recently was said they have about 24 people in Nevada and the rest of 'Apple INC' is in other countries other than that. The consumers of those gadgets are from the 'affluent nations'. Try getting those same nations to get behind a project ($150B and using a workforce of 3million 'workers') to get running water and electricity to very place that has more that 4 people living there. That means the most bush-like places on the planet, go gain for the ones who already have that so the odds of it getting done is 'zero' because the ones capable of doing the task have decided only they need such 'luxury items' and the rest of the world can go **** itself.

Canada has an educated population and so does America, Britain, France, Greece, Italy and so yet there is more unemployment that 'is healthy', are you claiming that is caused by the 'educated people already there' are just not using that same education so they are, in effect, the root cause of their own misery?

Of any of the Nations that have been under financial stress only Iceland seems to have crashed once and after a few politicians and bankers got put in jail there has been no more failures that required the people pay off a debt they did not build. That recovery is not based on everybody running out and getting educated. The media available, could have been social media like the net, spread the word around and more people were chatting about current events and that is how they became educated.
Just what sort of mass 're-education plan' did you have in mind that would put all the bailout money into ral projects that saw the money go directly to workers. Let's say the goods made need to last at least 10 years for small disposable items and 50 years for 'expensive items such as vehicles and homes with their various utility items such as stoves and such. What does the 'educated public' manufacturer after those needs have been built. (don't get me wrong I think more things could be done but it means the public controls the purse strings rather than a few at a central bank that is anything but responding to the needs and wants of the general public on a global scale. The 10% that have the goods today are not really interesting in seeing the percent rise.

Iceland has unlimited electricity no matter what the price of oil and gas is. A developer should be investing in heavy industry there where they haul in raw materials, turn it into manufactured goods and deliver it to a global market at a competitive price. Even to the point they could undercut just by lowering profits from the sale of electricity. Even then you can have an educated population with a factory but you still need a part of the world that can pay for a demand that they can fill.

You do know there is no shortage of money in the world I hope? The problem lies in that the bankers decide which projects are worth funding, when the people only have to say' it's raining and we are bored so cough it up at whatever interest you want cause it ain't like we are ever going to pay it back anyway. The in the project is to put an apple in every person's pocket then gp for it as long as it doesn't make it to the top of the list of things to do that only has one item on the list. If the world ever get overcrowded disease will fix that so we can do without the various wars, if hell is the destination then we all go down together.

 

[TenPenny]

Apple pays almost no taxes in the US. someplace I recently was said they have about 24 people in Nevada and the rest of 'Apple INC' is in other countries other than that. .

I hope you didn't believe that.

There are about 50,000 Apple employees in the US.

 

[MHz]

Serious, I didn't do any follow up but that seems to be the jest of the article. (no taxes on most of its profits)
How Apple avoided paying BILLIONS in taxes last year alone despite their record profits | Mail Online

 

[JLM]

Serious, I didn't do any follow up but that seems to be the jest of the article. (no taxes on most of its profits)
How Apple avoided paying BILLIONS in taxes last year alone despite their record profits | Mail Online

Surely you jest.
:lol:

 

[Retired_Can_Soldier]

Someone changing their mind is a sure sign that:

1. They are a human being.
2. They have been looking into the issue.

I have always wondered why people view not changing one's mind as some sort of virtue. I always thought stubbornness was a character flaw.

Where and when in my post did I say that? Personally, I have changed my view on numerous issues, including the Iraq war, Afghanistan, Boxers and Briefs... I am not ostracizing SK for changing his mind, I am simply saying that his view has changed and if I were in his shoes paying taxes wouldn't be such a burden.

 

[Nuggler]

I believe we've overlooked the fact that in the US, they're AREN'T any tax increases yet on the 1%. Obomber is to chickenshyte to implement any, and the ragin right ain't gonna when they steal the next erection,.

King can scream and shout all he wants. There are NO tax increases YET.

 

[Retired_Can_Soldier]

I believe we've overlooked the fact that in the US, they're AREN'T any tax increases yet on the 1%. Obomber is to chickenshyte to implement any, and the ragin right ain't gonna when they steal the next erection,.

King can scream and shout all he wants. There are NO tax increases YET.

Put down that bottle of Jack Nug.

 

[CDNBear]

It was part of the Ontario budget. It passed, and no one is crying. No corporations are leaving.

It's barely a week old.

Your point was about the anticipation of the tax. Corporations knew about the possibility at least a month before the budget came into force. None of them have left.

No that isn't what he said.

It's just one example, whereas there has been no moves in anticipation of this tax as you claimed.

It's been a month since the rumours began. Are you that daft that you don't understand how long it takes to move a business?

You made the claim that businesses would move in anticipation of the tax, not at the point when the tax would take effect.

No he didn't make that claim.

My position is simply that there is no evidence to show that raising taxes on the rich guarantees people will relocate.

True, but it sure does help motivate them to move... CSL.

It obviously depends on how much taxes are raised and whether that poses a threat to those individuals or their businesses.

Any negative deviation in the profit margin, is a threat.

 

[MHz]

Surely you jest.
:lol:

I never claimed speed-reading got all the facts down, I consider it fortunate that i could even find the article, if that paints me in a bad light it is my own fault, it doesn't change the basic fact, Companies will move just to get a lower tax rate which increases their profits and they do not gift that back to the tax-base in Canada.

What better way to signal that it is the way to do things when that is what former PM Martin did with Canada Steamships, a move that was not based on ability to remain competitive in an international market, it was to fatten his own pockets. How many jobs did that create for the educated population that was primed to take on the jobs being offered. Too bad that $100,000 education was eliminated since a low level clerk is the profession that everybody will be competing for. That you can get an accountant at the same price as a high school grad I would think most employers would go with the accountant. Is that a success story?

Going with an example of a minimal staff on the mainland of Canada while most employees and all manufacturing facilities are off-shore, that still allows the company to bid on competitive (Federal and Provincial) contracts where the 'rival' has only Canadian employees and is paying the base pay plus 20% and medical benefits. How is that company supposed to be able to pick up any contracts when his bare costs cannot be reduced any further.

 

[Walter]

One of your saner ideas, Walter. :lol:

As all my posts are: sane, saner, sanest.

 

[JLM]

As all my posts are: sane, saner, sanest.

That's good, now you just have to convince everyone else! :lol:

 

[Machjo]

Also taxing any money or investments leaving the country.

F!ck that! It was a nightmare for me living abroad in countries that had quotas on how much of my hard-earned money I could take out of the country. You've obviously not experienced this, have you! MonOne's after-tax money is his to do as he sees fit and he should not be discriminated against because he happens to have family abroad that needs help. For a user name like Earth as One, it's odd you should come up with such a proposal, especially considering that such a tax would be quite regressive in the Canadian context when we consider that much money leaving Canada is from poor Canadians trying to help their family abroad.

Have a heart!

You're on the right track; all income taxes need to be eliminated. The only fair way to tax people is a consumption tax.

I disagree. I'd say have a low flat income tax for universal services that all are entitled to such as education since all should contribute to the education of our children, or basic administration such as parliament and the justice system.

But I do agree with you for all non-essentials such as resource taxes to cover highway construction (the more you drive, the more you use it, the more you pay) for example.

 

[MHz]

F!ck that! It was a nightmare for me living abroad in countries that had quotas on how much of my hard-earned money I could take out of the country.

So you work in another country and that excuses you from paying Canadian tax AND you are complaining that the host country is asking for taxes on the money you earned there, that about sum it up?

 

[JLM]

So you work in another country and that excuses you from paying Canadian tax AND you are complaining that the host country is asking for taxes on the money you earned there, that about sum it up?

Yep, Ya can't suck and blow at the same time! :lol:

 

[captain morgan]

Are you implying Stephen King is French or that Americans who believe wealthy people should pay more taxes aren't real Americans?

No implications whatsoever. The statement was that if King supports a higher marginal rate for high income earners then he will be supportive of the French proposal.

That said, there is still nothing stopping King from making contributions above and beyond his 'minimum' tax bill.

A better case exists for suggesting wealthy Americans who disagree with King should consider moving offshore. Some of them will be closer to their factories.

Yes, they will be... Too bad that the macro view is lost on you and that (in part) is that the cost of doing business in N.Am is prohibitive in relation to other nations. A big chunk of that is represented by the multiple overlapping taxes on anything that moves.

The wealthy have to pay more, because the poor cannot.

Newsflash!.. They do already.

The poor need basic support and an education. That way they can educate themselves and become more productive members of society. At which point they can pay more taxes too.

This already exists, but it is up to the individual to take advantage of the tools that are provided, education, healthcare and living provisions are recognized in this formula... There is no financial restrictions to an primary education in Canada (or the USA) and the post secondary system is subsidized in excess of 70%.

Unless the individual is prepared and motivated to maximize the opportunities presented, there is nothing more that society can do.

So you work in another country and that excuses you from paying Canadian tax AND you are complaining that the host country is asking for taxes on the money you earned there, that about sum it up?

It doesn't excuse from paying Canadian tax, but you are sheltered from paying twice. You pay the applicable rates in teh nation wherein the revenues were generated. If those rates are in excess of the Canadian rates, you don't pay again. If those rates are lower, you get a tax bill from Canada to bring you up to the marginal rates.

 

[MHz]

Newsflash!.. They do already.

Do you have some actual stats that show the 1% pay more taxes per year than the 99%?

 

[Machjo]

So you work in another country and that excuses you from paying Canadian tax AND you are complaining that the host country is asking for taxes on the money you earned there, that about sum it up?

No. I currently work in Canada and had no qualms about paying taxes like anyone else while I was there. I'm referring to restrictions on taking after-tax income out of the country. As far as I'm concerned, once you've paid your taxes, what remains is yours, even if you take it out of the country.

Now that I'm in Canada, I have no qualms about paying my Canadian taxes either (and would not even necessarily mind paying more in taxes if necessary). However, once I've paid my taxes, what remains is mine and no government should restrict me from moving it abroad should i wish to do so. It could be frustrating enough even if you're a citizen of the country in which this restriction applies. But when you're not even a citizen of that country, the last thing you need is for your hard-earned money to be stuck in a foreign country.

I did not appreciate this treatment in China and so certainly would not wish it on any resident of Canada either. You want to raise our taxes, fine. But don't then penalize us again for taking our money out of the country.

The way I see it, restricting the flow of money is worse than even the highest taxes since it in fact restricts you from doing what you want with your money. What's the point of having money if you can't do anything with it? As an example, which would you choose between higher municipal bylaws and restrictions on taking the money you earn in town out of town? Immagine the frustration of a simple camping trip out of town! Most people would likely choose to just pay higher taxes and then be free to do what they want with what they keep.

Also, I'm sure the rich who propose higher taxes are not referring to restrictions on the movement of their after-tax money. There is a very big difference.

 

[captain morgan]

Do you have some actual stats that show the 1% pay more taxes per year than the 99%?

I sure do, but, let's be clear, I'm not your google bitch

 

[earth_as_one]

...King can scream and shout all he wants. There are NO tax increases YET.

King advocates change. Intelligent change IMO. The US system continues to lead to increased social injustice and desperation. Access to food, clothing, shelter and education are fundamental human rights. If the poor can't afford these things, then the wealthy must provide them out of self interest...

The inaccurate legend of Marie Antoinette.
MARIE ANTOINETTE BIOGRAPHY

While the story may be inaccurate, the lesson learned is accurate. Revolution occurs when the poor lack food and the wealthy elite don't care. The wealthy elite tend not to fare well during revolutions...

F!ck that! It was a nightmare for me living abroad in countries that had quotas on how much of my hard-earned money I could take out of the country. You've obviously not experienced this, have you! MonOne's after-tax money is his to do as he sees fit and he should not be discriminated against because he happens to have family abroad that needs help. For a user name like Earth as One, it's odd you should come up with such a proposal, especially considering that such a tax would be quite regressive in the Canadian context when we consider that much money leaving Canada is from poor Canadians trying to help their family abroad.

Have a heart!



I disagree. I'd say have a low flat income tax for universal services that all are entitled to such as education since all should contribute to the education of our children, or basic administration such as parliament and the justice system.

But I do agree with you for all non-essentials such as resource taxes to cover highway construction (the more you drive, the more you use it, the more you pay) for example.

I am against limits. I support fair system of graduated taxes only. The more you make, the more you pay. I only support taxing wealth or assets leaving the country, not limits.

No implications whatsoever. The statement was that if King supports a higher marginal rate for high income earners then he will be supportive of the French proposal.

That said, there is still nothing stopping King from making contributions above and beyond his 'minimum' tax bill.

Yes, they will be... Too bad that the macro view is lost on you and that (in part) is that the cost of doing business in N.Am is prohibitive in relation to other nations. A big chunk of that is represented by the multiple overlapping taxes on anything that moves.

Newsflash!.. They do already.

This already exists, but it is up to the individual to take advantage of the tools that are provided, education, healthcare and living provisions are recognized in this formula... There is no financial restrictions to an primary education in Canada (or the USA) and the post secondary system is subsidized in excess of 70%.

Unless the individual is prepared and motivated to maximize the opportunities presented, there is nothing more that society can do.

It doesn't excuse from paying Canadian tax, but you are sheltered from paying twice. You pay the applicable rates in teh nation wherein the revenues were generated. If those rates are in excess of the Canadian rates, you don't pay again. If those rates are lower, you get a tax bill from Canada to bring you up to the marginal rates.

King advocates change. Since the French system is more fair, Americans should move towards it.

Are you a multi-billionaire? If not, then how did you come to feel sorry for multi-billionaires?

If King attempted to shoulder this burden by himslef, his increased taxes would make little difference. If taxes were voluntary few people would pay them. To be fair, everyone must be required to pay their share of the burden according to what they can afford.

University should be merit based and free. We all benefit from have the most deserving rising to their potential, rather than our best and brightest getting stuck in a dead end McJob because poverty and desperation. Dumb wealthy children can pay the full university bill unless of course Daddy buys the university a new wing and claims it as a charitable donation...

Anyone living at or below the poverty line should get assistance. The more you are above the poverty line, the higher the rate. Above a certain value, I'd support the wealthy being able to make equivalent donations to the charity of their choice instead of paying increased taxes. I'd recognize the right of uber wealthy to decide how their excess taxes benefit society.