Chef Jim Posted November 2, 2012 Share Posted November 2, 2012 I don't disagree, but those are the laws we live by... those can be corrected through the legislative process, they will not be solved by skirting the law. What laws are being skirted here?? Link to comment Share on other sites More sharing options...
B-Large Posted November 2, 2012 Share Posted November 2, 2012 What laws are being skirted here?? If you are stashing money to avoid US taxation, money that sould be taxed, I assume that is breaking US laws. I consider it to be different than taking money under the table... its tax evasion. I am not saying only the well-to-do engage in it, heck my friends have paid their Nanny 35,000 a year under the table for 6 years, and she gets section 8 housing, owns a car in their name, and gets Meidcare and Medicaid- and they complain about their chidl tax credit not being big enough... Link to comment Share on other sites More sharing options...
IDBillzFan Posted November 2, 2012 Share Posted November 2, 2012 I don't disagree, but those are the laws we live by... Like the laws that let people like Romney and Obama stuff their money in the Caymans. The laws they live by. Change 'em, join 'em or shut the hell up. Link to comment Share on other sites More sharing options...
meazza Posted November 2, 2012 Share Posted November 2, 2012 If you are stashing money to avoid US taxation, money that sould be taxed, I assume that is breaking US laws. I consider it to be different than taking money under the table... its tax evasion. I am not saying only the well-to-do engage in it, heck my friends have paid their Nanny 35,000 a year under the table for 6 years, and she gets section 8 housing, owns a car in their name, and gets Meidcare and Medicaid- and they complain about their chidl tax credit not being big enough... That would be incorrect, but don't let that stop you from making an ass of yourself. Link to comment Share on other sites More sharing options...
Cugalabanza Posted November 2, 2012 Share Posted November 2, 2012 (edited) Like the laws that let people like Romney and Obama stuff their money in the Caymans. The laws they live by. Change 'em, join 'em or shut the hell up. Point of fact: It’s Romney who has millions in the Caymans. Obama happens to have a small investment that’s part of his pension from being an Illinois legislator, with a U.S. company which happens to have some overseas investments, including the Caymans. Huge difference. Obama gains no tax shelter advantage. Like the laws that let people like Romney and Obama stuff their money in the Caymans. The laws they live by. Change 'em, join 'em or shut the hell up. I think they should be changed. I know that the Republicans would never change them. Edited November 2, 2012 by gringo starr Link to comment Share on other sites More sharing options...
We Come In Peace Posted November 2, 2012 Share Posted November 2, 2012 Why are you so jealous of the success of others? If you spent half the effot you use deriding others for their ingenuity, business acumen, hard work, and wise investment on being dynamic, business savvy, working hard, and investing well yourself, you might not be so miserable when contemplating the good fortune of others. Why are you so jealous of the success of others? If you spent half the effot you use deriding others for their ingenuity, business acumen, hard work, and wise investment on being dynamic, business savvy, working hard, and investing well yourself, you might not be so miserable when contemplating the good fortune of others. There is no irony. There is a man of means speaking to others of means about tax policy. The only possible opposition to such a speech is that the opposition is jealous and wants more of the money being discussed to be redistributed to themselves. Why are you so jealous of the success of others? If you spent half the effot you use deriding others for their ingenuity, business acumen, hard work, and wise investment on being dynamic, business savvy, working hard, and investing well yourself, you might not be so miserable when contemplating the good fortune of others. Why are you so jealous of the success of others? If you spent half the effot you use deriding others for their ingenuity, business acumen, hard work, and wise investment on being dynamic, business savvy, working hard, and investing well yourself, you might not be so miserable when contemplating the good fortune of others. Why are you so jealous of the success of others? If you spent half the effot you use deriding others for their ingenuity, business acumen, hard work, and wise investment on being dynamic, business savvy, working hard, and investing well yourself, you might not be so miserable when contemplating the good fortune of others. Why are you so jealous of the success of others? If you spent half the effot you use deriding others for their ingenuity, business acumen, hard work, and wise investment on being dynamic, business savvy, working hard, and investing well yourself, you might not be so miserable when contemplating the good fortune of others. Why are you so jealous of the success of others? If you spent half the effot you use deriding others for their ingenuity, business acumen, hard work, and wise investment on being dynamic, business savvy, working hard, and investing well yourself, you might not be so miserable when contemplating the good fortune of others. I believe your communication circuits are broken. I'm not sure if you're aware of it or not, but you seem to be repeating yourself quite frequently. I performed my conditioning training with a being who had this happen for an entire week! It was langers. Fortunately all it took to fix him was a plasma cannon. If you need a good plasma cannon there is a great vendor in the Jackson Crater. (Our week is over 1,000 of your Earth weeks... this point would have been more astounding had you known that before) Link to comment Share on other sites More sharing options...
B-Large Posted November 2, 2012 Share Posted November 2, 2012 (edited) That would be incorrect, but don't let that stop you from making an ass of yourself. I can't find definitively what is considering legal or illegal for tax evasion in off shore entities. Most of what I can find says it is illegal for us taxpayers to use off shore accounts to evade taxes (but I can't find an IRS statute, and who knows how trustworthy some sites are)- but it goes into establishing a foreign company and renoucing citizenship... I will do some more reasearch, but I am pretty sure I am correct on this one... Edited November 2, 2012 by B-Large Link to comment Share on other sites More sharing options...
Nanker Posted November 2, 2012 Share Posted November 2, 2012 American multinational corporations have trillions of dollars in profits from their overseas operations and will not bring it back into the US because of the high corporate tax rate (generally speaking about the highest in the world). If corporations repatriate that money, the government wants to tax those profits at the US rate - minus the rate of taxes paid to the foreign nations. So, what's better - having US corporations holding Uncle Sam at bay with a stiff arm to his forehead while he fails away with haymakers that continually fall short of the intended target - or allowing that money to come here and be used by those businesses to invest more in the US? As is, Uncle Sam will never get any of that money, and the country will continue to suffer from anemic corporate investment. Link to comment Share on other sites More sharing options...
RkFast Posted November 2, 2012 Share Posted November 2, 2012 Point of fact: It’s Romney who has millions in the Caymans. Obama happens to have a small investment that’s part of his pension from being an Illinois legislator, with a U.S. company which happens to have some overseas investments, including the Caymans. Huge difference. Obama gains no tax shelter advantage. So your excuse is "but Obama doesnt do it as bad?" Really? Plus, Im thinking Obama's pension is worth more than a few bucks. I think they should be changed. I know that the Republicans would never change them. Actually, most Republicans want the tax code simplified.Thats only one of the pillars of the Tea Party. Link to comment Share on other sites More sharing options...
We Come In Peace Posted November 2, 2012 Share Posted November 2, 2012 Actually, most Republicans want the tax code simplified.Thats only one of the pillars of the Tea Party. Do you serve crackers? Link to comment Share on other sites More sharing options...
RkFast Posted November 2, 2012 Share Posted November 2, 2012 Do you serve crackers? No, only the coloreds. Link to comment Share on other sites More sharing options...
IDBillzFan Posted November 2, 2012 Share Posted November 2, 2012 Point of fact: It’s Romney who has millions in the Caymans. Obama happens to have a small investment that’s part of his pension from being an Illinois legislator, with a U.S. company which happens to have some overseas investments, including the Caymans. Huge difference. Obama gains no tax shelter advantage. Point of fact; the Obama campaign tells people Romney has money in the Caymans. Anoither point of fact; so does Obama. And the resulting point of fact is this: the Obama campaign sounds like a bunch of dumbasses with nothing left in the chamber. Link to comment Share on other sites More sharing options...
We Come In Peace Posted November 2, 2012 Share Posted November 2, 2012 No, only the coloreds. Really? That is disappointing. Crackers are delicious. Especially Ritz. Maybe at the next meeting you can ask about serving crackers? Link to comment Share on other sites More sharing options...
Chef Jim Posted November 2, 2012 Share Posted November 2, 2012 If you are stashing money to avoid US taxation, money that sould be taxed, I assume that is breaking US laws. I consider it to be different than taking money under the table... its tax evasion. So where did this conversation take a turn to talk about tax evasion? I missed that or is that what just automatically pops in your mind when you think the Cayman Islands. Because what pops in my mind is sailing, conch fritters and rum. Link to comment Share on other sites More sharing options...
B-Large Posted November 2, 2012 Share Posted November 2, 2012 So where did this conversation take a turn to talk about tax evasion? I missed that or is that what just automatically pops in your mind when you think the Cayman Islands. Because what pops in my mind is sailing, conch fritters and rum. I can tell you one thing Chef, I may be a novice in Tax law of the IRS, but I am really, really good at drinking Rum.... Thinking about trying to make my own Bourbon.. doesn't seem to hard, but I am sure I will make it difficult.. lol Link to comment Share on other sites More sharing options...
Nanker Posted November 2, 2012 Share Posted November 2, 2012 Never quite got the conch fritters. I far prefer fried clams - with the bellies! yum! Fried oysters are great too Link to comment Share on other sites More sharing options...
Gary M Posted November 2, 2012 Share Posted November 2, 2012 I don't disagree, but those are the laws we live by... those can be corrected through the legislative process, they will not be solved by skirting the law. Right, and the laws we live by allow you to move your money overseas, and Obama had two years to fix all the wrongs, and all he did was give us a giant money sucking ACA. Point of fact: It’s Romney who has millions in the Caymans. Obama happens to have a small investment that’s part of his pension from being an Illinois legislator, with a U.S. company which happens to have some overseas investments, including the Caymans. Huge difference. Obama gains no tax shelter advantage. I think they should be changed. I know that the Republicans would never change them. Obama had two years to fix all these immoral tax shelters and incentives to move jobs to China, but the ACA was much more important to him. Link to comment Share on other sites More sharing options...
We Come In Peace Posted November 2, 2012 Share Posted November 2, 2012 Right, and the laws we live by allow you to move your money overseas, and Obama had two years to fix all the wrongs, and all he did was give us a giant money sucking ACA. Obama had two years to fix all these immoral tax shelters and incentives to move jobs to China, but the ACA was much more important to him. I would think you'd be more grateful for such a thing. Think of the academic genius that it took to design the ACA, it's astounding. Link to comment Share on other sites More sharing options...
B-Large Posted November 2, 2012 Share Posted November 2, 2012 (edited) Right, and the laws we live by allow you to move your money overseas, and Obama had two years to fix all the wrongs, and all he did was give us a giant money sucking ACA. Obama had two years to fix all these immoral tax shelters and incentives to move jobs to China, but the ACA was much more important to him. It looks like Congress drafted, and the President signed into law FATCA in 2010. http://www.irs.gov/B...ance-Act-(FATCA) I don't know to what extent this solved all the problems, but from what I can decpiher is addressed at least some of the issues. Edited November 2, 2012 by B-Large Link to comment Share on other sites More sharing options...
Gary M Posted November 2, 2012 Share Posted November 2, 2012 I would think you'd be more grateful for such a thing. Think of the academic genius that it took to design the ACA, it's astounding. I heard he had a 2.6 GPA at Columbia. Which explains a lot It looks like Congress drafted, and the President signed into law FATCA in 2010. http://www.irs.gov/B...ance-Act-(FATCA) I don't know to what extent this solved all the problems, but from what I can decpiher is addressed at least some of the issues. So Romney must be compliant with the law Obama signed, why is this an issue? Link to comment Share on other sites More sharing options...
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