Thomas Sowell on tax and false promises

[damngrumpy]

You will struggle to keep cash from moving but here is a thought make the
attempt a problem. For example they want to move a hundred million into
a tax shelter in some foreign country. Alright but search for them and if found
from any source of revenue or accessible capital make it subject to RICO
laws and take damn near everything they have where ever and when ever the
find it.
No fines no jail just start them over a Zero and monitor everything the do.
To up the anti share whatever is found with former host countries after all it would
be new found illegal earnings as the taxes were not paid.
Socialist and capitalist countries all have a tax system and everyone should pay
their share.

 

[AnnaG]

no such thing as crony capitalism, it's just capitalism.

crony capitalism was just a term invented by apologists trying to defend capitalism's failures.

capitalism has never been without government and business co-operating.

Says the turnip who apparently gets his info from a communist comic book.

http://economix.blogs.nytimes.com/2009/06/09/a-failure-of-regulation-not-capitalism/?_r=0

Some governments do not climb into bed with business unless it is in the public interest.

 

[pgs]

You will struggle to keep cash from moving but here is a thought make the
attempt a problem. For example they want to move a hundred million into
a tax shelter in some foreign country. Alright but search for them and if found
from any source of revenue or accessible capital make it subject to RICO
laws and take damn near everything they have where ever and when ever the
find it.
No fines no jail just start them over a Zero and monitor everything the do.
To up the anti share whatever is found with former host countries after all it would
be new found illegal earnings as the taxes were not paid.
Socialist and capitalist countries all have a tax system and everyone should pay
their share.

Do we have RICO laws in Canada ?

 

[HarperCons]

Did you make the last part up ?
In the 1930's many in America and Canada looked at the transformation of Germany as a good thing .
Your hero JFK's father was a supporter of Hitler into the 2 world war .
Trying to equate 1930's political and emotional situation with the present time is a mugs game .
I am sure you have all the same morals and goals as your grandparents and great grandparents .

LOL, you calling JFK my hero? he was total capitalist scum. seriously every american president in history has been a ****ing criminal.

Says the turnip who apparently gets his info from a communist comic book.

http://economix.blogs.nytimes.com/2009/06/09/a-failure-of-regulation-not-capitalism/?_r=0

Some governments do not climb into bed with business unless it is in the public interest.

get lost with that dumb blog from new york times. are you kidding me?

government always works in cohesion with large corporations. corporations has larger influence over policy than people who vote. there is no democracy, only corpocracy , just one creation of the capitalist cancer.

 

[AnnaG]

LOL, you calling JFK my hero? he was total capitalist scum. seriously every american president in history has been a ****ing criminal.

Liar. Only a couple have been criminals actually. Most managed to follow the laws.

get lost with that dumb blog from new york times. are you kidding me?

government always works in cohesion with large corporations. corporations has larger influence over policy than people who vote. there is no democracy, only corpocracy , just one creation of the capitalist cancer.

Prove it. Show your research.

 

[HarperCons]

Liar. Only a couple have been criminals actually. Most managed to follow the laws.

Prove it. Show your research.

nah. they all ignored laws when it contradicted foreign policy.


you want proof? read a book. start with howard zinn's a people's history of america.

 

[AnnaG]

nah. they all ignored laws when it contradicted foreign policy.

Prove it. Show your research.

you want proof? read a book. start with howard zinn's a people's history of america.

lol You really are a small minded child, huh? All you can think about is the USA and being anti-American. I have news for you, the USA is only a part of the planet. You need to step back and ogle the whole world sometime. It is quite the view.

 

[HarperCons]

dumb liberal.

 

[petros]

Jealous wanker. Go make you own f-cking money instead of being jealous of those who do and have money.

Jealousy is not a viable excuse for taxation.

 

[HarperCons]

 

[AnnaG]

dumb liberal.

hahaha You give being liberal a good context.
I am more libertarian-minarchist, however, so you are wrong again.
You have no argument, just poorly thought-out and feeble opinion.

 

[HarperCons]

I am more libertarian-minarchist

lol :lol:

 

[Bar Sinister]

A recent article in the New York Times says that raising the tax rate on the top one percent of income earners to 40 percent would generate “about $157 billion” a year in additional tax revenue for the government. This ignores mountains of evidence, going back for generations, showing that raising tax rates does not automatically mean raising tax revenues -- and has often actually led to falling tax revenues. When the state of Maryland raised its tax rate on people with incomes of a million dollars a year or more, the number of such people living in Maryland fell from nearly 8,000 to fewer than 6,000. Although it had been projected that the tax revenue collected from such people in Maryland would rise by $106 million, instead these revenues fell by $257 million.

There was a similar reaction in Oregon and in Britain. Rich people do not simply stand still to be sheared like sheep. They can either send their money somewhere else or they can leave themselves. Currently, there are trillions of dollars of American money creating jobs overseas, in places where tax rates are lower. It is easy to transfer money electronically from country to country. But it is not nearly so easy for unemployed American workers to transfer themselves to where the jobs have been driven by high tax rates.

Politicians' Words - Thomas Sowell - Page full

h/t davidthompson: Elsewhere (183)

Actually you are assuming that all high earners would leave the US. Somehow I doubt that would be the case. The wealthy have to live somewhere, and I suspect that tax havens would become pretty crowded if they all decided to leave. And then, of course, there are the billionaires like Mark Zuckerberg and Warren Buffet who actually think that their wealth should be shared with the people who helped them become wealthy.

I also find it interesting that historically the time of most rapid growth following World War II occurred in the 1950s and 1960s when tax rates on the rich were at their highest. For some reason most of the wealthy did not leave and the economy grew at its fastest rate. And then there are the multiple studies showing that there is almost no evidence of low tax rates on the wealthy actually helping the economy. In fact they may even slow it down.

 

[AnnaG]

lol :lol:

Like I said, you have no argument; just unsupported opinion.

 

[Walter]

He's correct; thanks for posting.

 

[Walter]

Great interview.
Wealth, Poverty, And Politics | Hoover Institution