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Former Fed Chair Paul Volcker: ‘We’re in a Hell of a Mess’
Comments
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If this is true then the solution would be to lower the tax rate on the “non wealthy”.2001400ex said:
See Trump, Donald.Fenderbender123 said:I'm still waiting to see solid examples of rich people not paying taxes. All I ever see are intentionally misleading examples that play language games and/or examples that lack context to fit the narrative.
Also, most of the information is that wealthy people pay a lower tax rate. And they get to write off personal shit like airplanes and yatchs. So their taxable income is lower than it otherwise would be.
And in fact when tax credits such as the EITC and CTC, then tax rate is lowered substantially to the point of negative in many cases. -
You don't read well. I didn't expect you to understand anyway.MikeDamone said:
Hondo is a tax cheat. Good to know2001400ex said:
They are "business expenses". The bar isn't hard to get there.LebamDawg said:
anybody can write off a yacht and an airplane if writing off personal shit is legal2001400ex said:
See Trump, Donald.Fenderbender123 said:I'm still waiting to see solid examples of rich people not paying taxes. All I ever see are intentionally misleading examples that play language games and/or examples that lack context to fit the narrative.
Also, most of the information is that wealthy people pay a lower tax rate. And they get to write off personal shit like airplanes and yatchs. So their taxable income is lower than it otherwise would be. -
I read perfectly. You fudge your personal expenses as business expenses and are a tax cheat. I expect nothing less from a lying leftist like you.2001400ex said:
You don't read well. I didn't expect you to understand anyway.MikeDamone said:
Hondo is a tax cheat. Good to know2001400ex said:
They are "business expenses". The bar isn't hard to get there.LebamDawg said:
anybody can write off a yacht and an airplane if writing off personal shit is legal2001400ex said:
See Trump, Donald.Fenderbender123 said:I'm still waiting to see solid examples of rich people not paying taxes. All I ever see are intentionally misleading examples that play language games and/or examples that lack context to fit the narrative.
Also, most of the information is that wealthy people pay a lower tax rate. And they get to write off personal shit like airplanes and yatchs. So their taxable income is lower than it otherwise would be.
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“The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 … Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.”.—Milton Friedman , Two Lucky People, 233MikeDamone said:End the Fed
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^thisYellowSnow said:
“The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 … Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.”.—Milton Friedman , Two Lucky People, 233MikeDamone said:End the Fed
Of course HondoBros think it was caused by “capitalism” -
I actually like Volcker a lot and he did his country a great service, albeit with some short term misery to break the cycle of stagflation.MikeDamone said:
^thisYellowSnow said:
“The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 … Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.”.—Milton Friedman , Two Lucky People, 233MikeDamone said:End the Fed
Of course HondoBros think it was caused by “capitalism”
I could get behind the idea though of ending the Fed and just going with some sort of formula like Friedman advocated to keep the supply of money flowing at the optimal amount. Obviously, in 1929 - 33 we should have opened the spigot. -
Thanks for making my point little man.MikeDamone said:
I read perfectly. You fudge your personal expenses as business expenses and are a tax cheat. I expect nothing less from a lying leftist like you.2001400ex said:
You don't read well. I didn't expect you to understand anyway.MikeDamone said:
Hondo is a tax cheat. Good to know2001400ex said:
They are "business expenses". The bar isn't hard to get there.LebamDawg said:
anybody can write off a yacht and an airplane if writing off personal shit is legal2001400ex said:
See Trump, Donald.Fenderbender123 said:I'm still waiting to see solid examples of rich people not paying taxes. All I ever see are intentionally misleading examples that play language games and/or examples that lack context to fit the narrative.
Also, most of the information is that wealthy people pay a lower tax rate. And they get to write off personal shit like airplanes and yatchs. So their taxable income is lower than it otherwise would be. -
The point that you’re a tax cheat? Got it?2001400ex said:
Thanks for making my point little man.MikeDamone said:
I read perfectly. You fudge your personal expenses as business expenses and are a tax cheat. I expect nothing less from a lying leftist like you.2001400ex said:
You don't read well. I didn't expect you to understand anyway.MikeDamone said:
Hondo is a tax cheat. Good to know2001400ex said:
They are "business expenses". The bar isn't hard to get there.LebamDawg said:
anybody can write off a yacht and an airplane if writing off personal shit is legal2001400ex said:
See Trump, Donald.Fenderbender123 said:I'm still waiting to see solid examples of rich people not paying taxes. All I ever see are intentionally misleading examples that play language games and/or examples that lack context to fit the narrative.
Also, most of the information is that wealthy people pay a lower tax rate. And they get to write off personal shit like airplanes and yatchs. So their taxable income is lower than it otherwise would be.
Dip shit
