Department of Government Efficiency - DOGE

#7,376
#7,376
Vol8188 said:
Reporting wealth and calculating tax rate off that is ignorant. Says a lot about the publication itself
Click to expand...
Yes. Stupid.

BOM's post shows 6.5 billion income. 1.4 billion in taxes, approximately 21%.

BOM's post references a 127 billion increase in "wealth," which it states "under current law, may never be taxed." Well, if it is ever realized as a gain, it will be taxed. If it is never realized as a gain (income) to anyone, how can it be taxed? It is just money on paper until it hits someone's pocket. Eventually, it will either be taxed, or it will vanish, with no one having had the benefit of that growth, right?

Seems written and reported for the indignation of the masses.
 
  • Like
Reactions: StarRaider
#7,377
#7,377
Ritzwatch said:
Yes. Stupid.

BOM's post shows 6.5 billion income. 1.4 billion in taxes, approximately 21%.

BOM's post references a 127 billion increase in "wealth," which it states "under current law, may never be taxed." Well, if it is ever realized as a gain, it will be taxed. If it is never realized as a gain (income) to anyone, how can it be taxed? It is just money on paper until it hits someone's pocket. Eventually, it will either be taxed, or it will vanish, with no one having had the benefit of that growth, right?

Seems written and reported for the indignation of the masses.
Click to expand...
Or it can be borrowed against with the loan spent as income and never be taxed which is the loopholes used by the top 1%
 
#7,380
#7,380
swampfoxfan said:
Or it can be borrowed against with the loan spent as income and never be taxed which is the loopholes used by the top 1%
Click to expand...
They're still on the hook for the loan against the asset, plus the additional borrowed amount. No one is paying that loan for them. They haven't gained "income". They've increased their debt against an asset, most often because they see the opportunity of using that capital now as creating a better value/profitability in a business long term that outweighs the totality of the loan against the asset. You understand this is perfectly legal and they're not escaping any tax liability by doing so?
 
Last edited:
  • Like
Reactions: InVOLuntary
#7,381
#7,381
swampfoxfan said:
Or it can be borrowed against with the loan spent as income and never be taxed which is the loopholes used by the top 1%
Click to expand...

There's no difference between a SBLOC and the middle class using a HELOC to pay for vacations, etc except interest on HELOC is more likely to be tax deductible...
 
  • Like
Reactions: hog88, Ritzwatch and BernardKingGOAT
#7,389
#7,389
Ritzwatch said:
Yes. Stupid.

BOM's post shows 6.5 billion income. 1.4 billion in taxes, approximately 21%.

BOM's post references a 127 billion increase in "wealth," which it states "under current law, may never be taxed." Well, if it is ever realized as a gain, it will be taxed. If it is never realized as a gain (income) to anyone, how can it be taxed? It is just money on paper until it hits someone's pocket. Eventually, it will either be taxed, or it will vanish, with no one having had the benefit of that growth, right?

Seems written and reported for the indignation of the masses.
Click to expand...
Unless Pocahontas or some other dumbass socialist becomes President.
 
  • Like
Reactions: InVOLuntary and Ritzwatch
#7,391
#7,391
Vol737 said:
They're still on the hook for the loan against the asset, plus the additional borrowed amount. No one is paying that loan for them. They haven't gained "income". They've increased their debt against an asset, most often because they see the opportunity of using that capital now as creating a better value/profitability in a business long term that outweighs the totality of the loan against the asset. You understand this is perfectly legal and they're not escaping any tax liability by doing so?
Click to expand...
Nice attempt, and well stated. Remember though you are talking to a TDS ridden apoplectic child.
 
  • Like
Reactions: InVOLuntary and Vol737
#7,395
#7,395
Vol8188 said:
Lmfao so I owe you 100k, I’ve not paid you anything on it, and you’re going to give me 200k now?

Why would you continue lending me money if I never pay you? What’s in it for you?

Surely you’re starting to see how this doesn’t work
Click to expand...
Nah. She's in end stage TDS now. There's no hope.
 
  • Like
Reactions: InVOLuntary, StarRaider and Vol737
#7,396
#7,396
Vol8188 said:
Lmfao so I owe you 100k, I’ve not paid you anything on it, and you’re going to give me 200k now?

Why would you continue lending me money if I never pay you? What’s in it for you?

Surely you’re starting to see how this doesn’t work
Click to expand...
No, he doesn’t.
 
  • Like
Reactions: InVOLuntary
#7,397
#7,397
Vol8188 said:
Lmfao so I owe you 100k, I’ve not paid you anything on it, and you’re going to give me 200k now?

Why would you continue lending me money if I never pay you? What’s in it for you?

Surely you’re starting to see how this doesn’t work
Click to expand...
If you had a few billion backing it up yes
 
#7,398
#7,398
swampfoxfan said:
B

Borrow 200,000 next year
Click to expand...

That’s not income and he still owes the debt. At some point they have to cover it or go into default. Sounds like you think the wealthy just borrow money to live lavishly off of and never pay the debt, bankrupting their estate and heirs. Some douchebags probably do, but the top 1/2 of 1% you’re talking about have teams of lawyers, accountants and have very shrewd business acumen, mostly. They know how this stuff works and it’s not illegal, immoral or wrong. They’re aren’t stiffing those that aren’t in the 1% or 5% or 10%.
 
  • Like
Reactions: InVOLuntary
New posts
You must log in or register to reply here.

VN Store



Back
Top