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Guest Post: Regardless Of What The Propaganda Says, This Is Not How A Free Society Treats People

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Submitted by Simon Black of Sovereign Man

Regardless Of What The Propaganda Says, This Is Not How A Free Society Treats People

I’ve been in the US for a little more than 24-hours. And having flipped through the TV channels trying to figure out what useless drivel big media is passing off as ‘news’, I realized that I’m going to vomit if I hear the word “fair” one more time.

This concept of ‘fair’ seems to be dominating discussion of the US government’s dismal fiscal condition. The talking heads say that it’s ‘fair’ for wealthy Americans to pay higher taxes and bail the country out… or that everyone needs to pay his/her ‘fair’ share.

The whole logic is absurd: you do not ‘fix’ the country’s fiscal imbalances by giving the idiots in charge even more resources to squander… it’s like dumping gasoline on a forest fire. Somehow the debate seems to have missed this point.

This ‘fair’ nonsense is also very dangerous.  Just ask any three-year old– ‘fair’ is completely arbitrary. It’s like a Wiki version morality… if enough people agree on it, it’s fair.

In this case, ‘fair’ is defined in the sole discretion of those who are the direct beneficiaries of confiscating other people’s money. But let’s look at the numbers:

According to the IRS statistical database, the top 1% of income earners in the United States pays roughly 40% of all US individual income tax. They also get audited at least 5-times more than anyone else. Fair?

The other major complaint seems to be that the wealthy are ‘abusing’ capital gains rules in order to pay a 15% rate instead of a 35% rate. Duh. That’s why they’re wealthy, and stay wealthy… they don’t WORK for a living, they OWN assets which are subject to capital gains.

It seems so bizarre that a country once regarded as the freest, most economically enviable in the world would treat its productive citizens with such hostility.

This is where Eduardo Saverin comes in. The Facebook co-founder, who finds himself a few billion dollars richer this week, recently renounced his US citizenship. And, to the intelligentsia, it’s not ‘fair’.

‘Saverin needs to pay his fair share! He owes America more,’ they whine, completely ignorant that the 30-year old is already forking over a $500+ million exit tax (which may end up in the billions).

Apparently it’s not good enough that the company Saverin co-founded has created tens of thousands of jobs, spawned entire industries, and produced oodles of new millionaires. Oh yeah, it’s also made things damn easy for the CIA, NSA, and FBI. You’d think Uncle Sam would pin a medal on his chest.

But no. Saverin left behind a lot of value and decided to move on to greener pastures in Singapore. Now the do-gooders in Congress are cooking up new legislation (the EX-PATRIOT Act) designed to permanently bar ‘renunciants’ like Saverin from re-entering the United States.

It’s interesting that, rather than change their ways of doing business and introducing legislation that provides incentives for productive people to come here and stay here, they maintain policies that chase people away, and introduce new ones to lock the door after they’re gone.

The lesson here (especially for natural-born citizens) is this: simply by accident of birth, you are born with a lifelong obligation that you never signed up for to finance the corrupt misdealings of the political class. And if you choose to abandon this obligation, they will bar you from ever entering your homeland again.

Regardless of what the propaganda says, this is not how a free society treats people. It might look and feel like a representative democracy on the surface, but under the hood it’s the modern day equivalent of feudal serfdom.

The land of the free has certainly fallen a long way

 

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Thu, 05/17/2012 - 15:26 | 2436843 pods
pods's picture

They don't have to do the recording, you are correct!  Most would happily divulge almost eveything relevant about their lives on a daily basis, just for fun.

pods

Thu, 05/17/2012 - 14:53 | 2436658 CPL
CPL's picture

Why worry about it?

 

Not like the money they are raiding means anything anymore with QE3 on the way.  Let the CIA, FBI, NSA, DHS have it all.  I'll keep my toliet paper though, it'll have a trade value in a year unlike civil servant pensions and salaries.

 

Think Greece didn't have an intelligence community?  Looking at the pic posted earlier this week of the Department of finance...I doubt the intelligence group's building is in much better shape along with every employee that USED to work there.

 

Now they are just like everyone else.  Broke, hungry, kids to feed, gas to put in a car, job to find, day labouring, etc.  Awesome.

 

Everyone will be free soon enough, and like Greece, most won't know what to do with themselves so they starve or kill themselves publically.  They never thought that far ahead or imagined that they would be the next target in line for getting financially destroyed.  Most are 9-5's, average life, average day, input and output, reviews and meetings.  Unlike the TV representations given, they are office workers and saddly government office workers.

 

I'm sure they've got a bunch of 007 types, but without logistical and operational support even the strongest man collapses.  Hard to fight the good fight without someone to inform you where you need to go because they can't afford the gas to get to work (when QE3 comes).

 

Alternatively, collapse comes and Super spy can't get support because the interest rates go up to 20% on 500k homes and people can't afford gas because they are house poor.

 

Binary option paths only work for light switches.

 

 

Thu, 05/17/2012 - 14:55 | 2436663 crawldaddy
crawldaddy's picture

hell give me just 10 million and you'll never hear nor see me again. I'll happily sit at a small beach house in the middle of nowhere away from the rat race.

 

Thu, 05/17/2012 - 14:59 | 2436689 optimator
optimator's picture

Consider it done, crawdaddy, give me your mailing address and I'll send you the 10 million.  That's right, ten million Reichs Mark!

Let me know how that works for you.

Thu, 05/17/2012 - 15:20 | 2436809 crawldaddy
crawldaddy's picture

since fiat means little to you. Send me 10 million us dollars if you dont mind.  Pretty sure you wont.

Thu, 05/17/2012 - 15:29 | 2436859 pods
pods's picture

Well "US dollar" is defined by the coinage act of 1792 as to contain 371.25 grains of fine silver, same as the Spanish Milled Dollar.

http://mises.org/daily/4149

pods

Fri, 05/18/2012 - 06:16 | 2438838 CPL
CPL's picture

Yeah but after Nixon the materials changed to paper and faith.

 

PM's aren't part of paper currency now.

Thu, 05/17/2012 - 16:00 | 2436993 Rick Masters
Rick Masters's picture

Can I come? That sounds nice. I too want to leave to nowehere and just be left alone on an island, a semi-inhabitated one., kinda like that movie The Beach.

Thu, 05/17/2012 - 14:56 | 2436665 riphowardkatz
riphowardkatz's picture

How much do I owe? Can you please give the bill up front? Do I owe 30% of my life? 50% of my life? How much of my life do I owe to the state?

Thu, 05/17/2012 - 14:57 | 2436678 crawldaddy
crawldaddy's picture

if there is another big war and your still semi young, you may owe all of it, via a draft.

Thu, 05/17/2012 - 15:06 | 2436731 Trimmed Hedge
Trimmed Hedge's picture

Zuckerberg's Singapore buddy better cash out everything on the day of the IPO, then -- if he even can....

Thu, 05/17/2012 - 15:21 | 2436815 crawldaddy
crawldaddy's picture

pretty sure he wont be able to do that.

Thu, 05/17/2012 - 14:57 | 2436672 Nader_Nazemi
Nader_Nazemi's picture

My thoughts exactly !!!

Thu, 05/17/2012 - 14:57 | 2436676 Steyr
Steyr's picture

Fair is eliminating the "Earned Income Tax Credit" and instituting a "Fair Tax" where everyone pays instead of having a country where a majority pay NOTHING and demand more from the productive class.

Thu, 05/17/2012 - 15:00 | 2436701 pods
pods's picture

Of course you are missing the single biggest tax.

Inflation.

Thu, 05/17/2012 - 15:00 | 2436697 Abiotic Oil
Abiotic Oil's picture

Can I pay my slave-debt with lead?

Thu, 05/17/2012 - 15:24 | 2436832 Joe The Plumber
Joe The Plumber's picture

Lead is the currency of free men

And iron, cold iron, is master of all the metals

Thu, 05/17/2012 - 15:00 | 2436703 risk-reward
risk-reward's picture

Well said, Mr. Black

Thu, 05/17/2012 - 15:01 | 2436704 Zola
Zola's picture

Rogers is STILL a US citizen, he just happens to live in Singapore. 

Thu, 05/17/2012 - 15:07 | 2436735 machineh
machineh's picture

'Rather than change their ways of doing business and introducing legislation that provides incentives for productive people to come here and stay here, they maintain policies that chase people away, and introduce new ones to lock the door after they’re gone.'

Let's be specific. The US is an outlier which taxes its citizens and residents on worldwide income. Only a handful of other small economies do this.

Some Europeans leave their countries when marginal rates go too high. For instance, the Rolling Stones moved to France to escape the taxman, and recorded Exile on Main Street. But renouncing UK citizenship would have been pointless, since they didn't owe tax on income earned outside the UK while living abroad.

Instead of fixing a broken law, Schumer wants to pile on another punitive law which will officially confirm America's status as a ROACH MOTEL FOR CAPITAL. Welcome to the new Soviet Union of Amerika, comrades. You're welcome to walk across the bridge to Juárez with the clothes on your back -- Bienvenidos al Puente de Libertad, U.S. refugees.

Thu, 05/17/2012 - 15:08 | 2436738 AchtungAffen
AchtungAffen's picture

Fair may be as opposed to "unfair", as in rich people paying lower rates than the rest?

Thu, 05/17/2012 - 15:13 | 2436742 UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

Obama's a Gay Kenyan War Lord Who Loves Vacationing & Being an American Celebrity. Mitts a 1% douchebag. How's that for being FAIR?

 

Write In R. P. Nov 2012 

 

Thu, 05/17/2012 - 15:09 | 2436744 Nage42
Nage42's picture

So let me get this straight.

For the "honor" of having a blue passport with an almost extinct bird on it, you get:

Ass-raped by taxes without representation when you're in the country

Ass-raped by taxes past a certain ammount that they have inflated up to easily with money printing while you are out of the country

and for the grand finaly, you get ass-raped when you try to stop leave this "arrangement"... have I got it about right?

 

Wow, you just can't make this stuff up... and people from this lala land can't stop pumping their fists and shouting "we'r number w0n!!!11!!" at the drop of a hat ?!?!

 

Wow... just... wow.

/em living in Singapore and paying <12% income tax and NO capital gains by getting on a plane, and working my ass of providing value to people who respected that.

 

Vote with your ass!  Either you're presenting it while grabbing your ankles, or you've got in onboard a plane and are ready to work it to a better place.

 

I'm just saying...

 

 

Thu, 05/17/2012 - 18:58 | 2437731 MeBizarro
MeBizarro's picture

Singapore works so well but a lot of it is due to its unique history and gov't.  It also helps they take money no questions asked and have benefited hugely from the tens of billions that have rolled in from Mainland China after only Hong Kong over the last 20 years.  Chinese officials have to store their illicit gains somewhere and it is much harder to do that in West generally.   

Thu, 05/17/2012 - 15:10 | 2436748 i love cholas
i love cholas's picture

Shit is getting real. The USAA is making it really hard for us to leave at will. Flying into the DR they have a band playing and you pay a small fee but give you a shot of Rum at the Airport. Flying back into Newark it was a god damn Militarized zone while being harrassed by civil servants questioning my allegiance.

Thu, 05/17/2012 - 15:10 | 2436749 Belarusian Bull
Belarusian Bull's picture

Did the right thing.

Thu, 05/17/2012 - 15:10 | 2436750 Cranios
Cranios's picture

The government is secretly printing Quantitative Easing Notes for distribution at the end of September.

Thu, 05/17/2012 - 15:13 | 2436759 i love cholas
i love cholas's picture

We didn't choose to be born in the United States and we should have the choice to move freely without borders. Vagina Lottery

Thu, 05/17/2012 - 15:13 | 2436764 alien-IQ
alien-IQ's picture

Every time I read anything that assumes that "wealth" equals "productive"...I just wanna fuckin puke.

While I agree with much in this article...there is so much in it that is so utterly loathsome and misguided that it makes me want to hurl my monitor out my sixth floor window (but I won't because I like my monitor, need my window...and my car is right below me...)...anyways...

Regarding that top 1% paying 40% hat trick... If I earn $10,000 and pay $3,500 in taxes and your earn $100,000 and pay $15,000 - who has paid more? On a "dollar basis"...surely you did...but as a percentage of income...it's no contest. And that's the "1% pays 40%" slight of hand bullshit.

What's that phrase that gets tossed around here often: There are three kinds of lies; Lies, Damned lies and statistics. Well....this article has plenty of "statistics"...but it suffers from a lack of truth.

You can paint a lump of shit any color you'd like...it still stinks.

Thu, 05/17/2012 - 15:45 | 2436928 Banjo
Banjo's picture

I agree 100%. Unfortunately IMO it's going to have to get much much worse before it turns for the better.

 

Say I own a sweat shop with 1000 people a minimum wage paying oh I don't know $7.25 per hour. My factory makes $100 million per year after all expenses. Payroll for the workers is $58000 * 312 days  = $18 million per annum. ($18,000 per worker)

 

I pocket $82 million and complain how the poor are not paying taxes and how productive I am and how many jobs I am creating. Please these people are EXTRACTING the life and goodness of those producers and not even paying them sufficient so that they are able to contribute higher taxes and live a better life lubricating other parts of the economy.

 

It's the producers in our society from doctors, software programmers, pilots, lorry drivers, burger flippers or people who pick up the trash that create value in the economy. Not the few people who are gate keepers to power and funnel untold billions into their accounts. These people Gates, Buffet, Soros, Jobs are killing the goose the lays the golden egg.

 

Defending this system that has been promoted aggressivly since Regan began his so called "reforms" in 1980's is to continue on the path of disaster. I mean seriously look around you the path advocated above has been travelled for over thirty years who is benefiting?

 

 

 

Thu, 05/17/2012 - 15:54 | 2436972 alien-IQ
alien-IQ's picture

By Simon's (a several others here on ZH) definition of "productive". The guy that orders the Filet mignon and bottle of Dom at a restaurant is productive. Not the person who cooked the meal, not the farmer that raised the cow, not the vineyard that grew the grapes, not the server that served the meal, not the bussers that cleaned up the mess...no, they are parasites who are living off the "productivity" of the fat fuck that ordered the meal.

It's so twisted it makes me want to scream.

Thu, 05/17/2012 - 16:21 | 2437107 Rick Masters
Rick Masters's picture

Here here Alien-IQ. And Saverin is a prime example of it so it is fitting Simon just him. He financed facebook and didn't create it. Not saying he doesn't deserve his money but Simon is acting like he was the principle force behind it when he wasn't. Hell if he had his way there would be no Facebook cause it would've been a bunch of ads and people wouldn't have left Myspace for a pop-up site.

Thu, 05/17/2012 - 17:13 | 2437370 Banjo
Banjo's picture

This is why it's no accident that the population is being dumbed down on purpose, so they engage in mindless left right politics and modern circus of talent shows and football.

 

Give them enough education to do a specailist job (know more and more about less and less untill you know everything about some tiny tiny cog in the machine). But no education in the fields of history, politics, literature that might allow them to join the dots.

 

 

Thu, 05/17/2012 - 15:48 | 2436952 Thisson
Thisson's picture

There shouldn't even be an income tax in the first place.  Income taxation is just another form of theft.  The US didn't originally have an income tax; the government was funded by excise taxes.  Of course that meant having a small government, and we can't have that now, can we? /sarcasm

Thu, 05/17/2012 - 16:02 | 2437004 laomei
laomei's picture

There was also chattel slavery

Thu, 05/17/2012 - 16:17 | 2437078 Rick Masters
Rick Masters's picture

Are you for massive defense cuts? That is one of the biggest areas of gov't. Most small gov't types are all talk and no action and mostly lies (not saying you). It seems to me the difference between Rs and Ds isn't so much big and samll gov't but where to grow the gov't.

Thu, 05/17/2012 - 16:49 | 2437259 Calmyourself
Calmyourself's picture

2011 Defense - 19 b

Medicare medicaid / SS - 43b

Cut defense by 50% and everything else you got a deal!

Thu, 05/17/2012 - 19:19 | 2437797 PivotalTrades
PivotalTrades's picture

Let me see SS I pay for that but contribute way more than I'll ever take out ..especially in constant $$

Mediicare aid  I pay for my health insurance ..so dont need that.

 

Defense  I need that . Cant get it on my own.. Sure it cost too much but so do the other 2/3rds of the budget that I pay for but have no need of.

 

Thu, 05/17/2012 - 16:00 | 2436987 laomei
laomei's picture

It's also absolutely no mystery that the more you earn, the less actual work you do.

The minimum wage shelf stockers... without them there is nothing to sell and zero revenue.

The underpaid truck drivers... no product, nothing to stock, nothing to sell and zero revenue.

The overpaid CEO, yea you can pretty much just cut him out entirely and the whole damn thing will work just as fine as before.

 

When I started in my industry, I did all the bitchwork that was mission critical.  I was paid crap.

Now, I pretty much just yap on the phone and tell people what to do, fire off a few emails and pretend it's stressful.  I make piles.

 

Obviously, there is something horribly wrong with this.  And as such, those being overcompensated SHOULD be taxed at much higher rates as without this critical wealth transfer the gap becomes far too great and everything collapses or becomes Equatorial Guinea

Thu, 05/17/2012 - 16:29 | 2437143 PivotalTrades
PivotalTrades's picture

That would be nice if it were true....the tax rate is progressive. Why should I work and contruibute more of my time than you. Tell me why I work 50% of my time for the Gov. while my neighbor needs only to contribute 25% of his time.  Explain how that is fair? Go Ahead I'm waiting.

Thu, 05/17/2012 - 16:53 | 2437279 laomei
laomei's picture

Because your neighbor is probably doing actual work and earning $60k a year while you are bullshitting your way to 10 million a year?

 

Oh no! slightly less money to add to my pile that I will never manage to spend in a lifetime! The HORROR!

Thu, 05/17/2012 - 16:53 | 2437271 Umh
Umh's picture

Where do you live that takes 35% of $10,000. Oh; I got it you're making up numbers that you can believe in.

 

Thu, 05/17/2012 - 19:13 | 2437778 MeBizarro
MeBizarro's picture

Having a conversation only about income taxes and who paid what misses the freaking point entirely.  Hell it doesn't include payroll taxes, sales tax, property tax, and numerous other taxes/fees.  Only idiots harp on the income tax figures.  'Fair Tax' is more stupidity and just transfers even the burden more to the lower classes through a system that places a whopping 23% sales tax on everything your purchase.  Nevermind the huge unintended consequences it would create including a huge black market especially for everyday items.  If I'm in organized crime, I would salivate the prospect of a 23% sales tax (or federal VAT).  Ditto an Indian Nation on a reserve.    

I would much prefer a system that was based on estimated wealth/net asset worth with a much lower overall rate but good luck with that.  It would be challenging though to come up with a way to calculate estimated wealth/net asset worth and it would be fought tooth-and-nail since the wealthy would be much harder to dodge. 

Thu, 05/17/2012 - 15:16 | 2436786 USKiwi
USKiwi's picture

The founder of Facebook is not the only one leading for the exit.  We bailed from the US back in 2009 and now live in New Zealand.  Best decision we ever made.  Life is great down here and the United Police States of America are largely now a distant memory.  We were by no means wealthy but simply wanted a better life now and in the future.  We found it and were able to achieve it by immigrating here.

Over the last year or so, we have noticed quite a few other American's starting to show up in our local area.  Many were successful business owners and other very productive people in society and simply sold out of the system in American and re-established here.  The percentage of American's from the total number of immigrants here has effectively doubled since when we applied for our residency. 

People are quietly heading for the exits in ever increasing numbers.  This is one of those situations in which it is necessary to panic early and get out in front of the herd.  Once it is obviously apparent that people should leave, it will be too late.  Either the US will be barring people from leaving, or other countries will have closed their doors.  The media here has already picked up on the fact that Kiwi's living overseas in Europe and the US are beginning to head home as conditions get worse in those locations.  As that continues, the need for immigrants to fill skilled labour shortages will lower and eventually to doors to immigrating here will slam shut.

Good luck.  If you decide to stay, you are going to need it.

Thu, 05/17/2012 - 16:14 | 2437050 Rick Masters
Rick Masters's picture

I heard Americans aren't exactly welcome in NZ as in get a job and work welcome. Yeah, sure, if you're rich, you're welcome but as far as going there and getting a job I heard they will fucking hate your guts and one teacher was forced out of the country and constantly harraressed. The problem I have with leaving is its such a pussy move. This is my fucking country.

Thu, 05/17/2012 - 16:39 | 2437198 USKiwi
USKiwi's picture

You must have heard wrong then.  We have been here nearly 3 years and have never been harassed by any kiwi.  We got more flak from American friends and family for moving here than we did from any Kiwi after arriving.  It was easier to integrate here than it was in a number of our moves between different parts of the US.

As long as you don't run around singing the praises of Bush and don't try to turn NZ in to little-America, it is very easy to fit in and integrate.  People here do not judge you based on where you came from, they judge you on how you act and carry yourself here.

America is not your country anymore.  You simply reside there.  It belongs to the bankers and other powerful elite which have been in control for decades.

Thu, 05/17/2012 - 19:23 | 2437810 MeBizarro
MeBizarro's picture

Emigrating to NZ isn't as easy as you make it sound.  I have a friend that married a NZ guy.  She's a physician and they have a newborn son.   Still has a fairly lengthy waiting period for citizenship and NZ is tough about granting work visas. 

 

Thu, 05/17/2012 - 22:41 | 2438254 USKiwi
USKiwi's picture

Actually it is very easy to obtain residency here relatively speaking.  They won't give it to you overnight, but the process is straight forward, easy to comprehend, and there are no surprises along the way.  Compared to most countries the NZ process is a cake-walk.  I completed the process with minimal head ache in 6 months while still in the US.  The entire process cost about $2k in fees and other paperwork requirements.

Citizenship is available after 5 years of continuous residency and is done by filling in a few forms and attending a ceremony.

Escaping America is an option, but only for those willing to look through the misconceptions out there regarding emigrating and find out the truth for themselves.  Its not for just the wealthy, or just doctors, or those with connections.  If an average middle-class family like us and countless others can do it, so can anyone else.

Thu, 05/17/2012 - 19:18 | 2437793 BigJim
BigJim's picture

 The problem I have with leaving is its such a pussy move. This is my fucking country.

No, it isn't 'your' country, in a democracy run on the principle of majoritarian absolutism it's the collective's country. And they own your ass, too, so bend over, serf, the collective has some needs you're obliged to satisfy.

Thu, 05/17/2012 - 21:51 | 2438139 smiler03
smiler03's picture

 "The problem I have with leaving is its such a pussy move. This is my fucking country."

And has as been pointed out before, the original non-native Americans were people who abandoned their home countries and moved to the US. So what you're saying is that your "Ancestors were pussies". Idiotic really.

Thu, 05/17/2012 - 15:17 | 2436790 sprite
sprite's picture

Its pretty interesting that a country that prides itself on capitalism is now slanging off on a citizen that embraced that idea to its fullest.  He is doing exactly what the "system" has spent 28 odd years training him to do.

Good on him I say.

Singapore looks like an excellent choice. 

The Orwellian connotations of all this makes Minority Report look like PlaySchool.

 

 

Thu, 05/17/2012 - 15:17 | 2436792 forgetn
forgetn's picture

Simon

Dude what are you a GOP talking point machine?  Yes the top 1% pays 40% of all income tax, but take Americans total tax bill, and the number becomes much much lower.  Then again the top 1% control a vast percentage of the overall economy.  I totally agree that those who can get away with reclassifying revenue as capital gains should do so, if they can get away with it, but even you will admit that income is income (investment or via labor) and it is strange that one is taxed at half the rate of the other.

As for the Audit would it make you happy to audit the tax papers of people earning $60k a year with a $10k 401k?  My guess is that you would call this a huge wast of money.  BTW these people are audited automatically since the gobernment knows they have no assets (aside from their home) and no other source of revenues, and 2.5 kids.  Its so easy to verify that they don't need an audit.

BTW I would not use the opinion of a 3 year old for anything aside maybe from deciding on the type of icecream I would eat.

Thu, 05/17/2012 - 15:26 | 2436844 crawldaddy
crawldaddy's picture

exactly, give me 80% of the wealth of the nation and Ill happily pay back 30 to 50% of it. The rich should be taxed heavily becasue that is where all the money is being funneled.

In a flood, it makes no sense to put your pumps in the attic, you put em in the basement where all the water is.

Thu, 05/17/2012 - 19:24 | 2437816 BigJim
BigJim's picture

 exactly, give me 80% of the wealth of the nation and Ill happily pay back 30 to 50% of it.

Except that 80% of the wealth hasn't been 'given' to the wealthy, has it? In a capitalist, free market society, the successful haven't been 'given' their wealth - they've voluntarily transacted with people who have decided they're better off making those transactions.

Now, of course, here in the Soviet of the United Fascist States of Amerika, a large percentage of the truly wealthy got there because they're members of the money-creating cartel. These people haven't earned their wealth, they've literally made their money, by expanding the money supply and taking a cut.

But the solution isn't to tax them more - the solution is to take away their cartel privileges.

Thu, 05/17/2012 - 16:20 | 2437092 PivotalTrades
PivotalTrades's picture

The Democrats have pandered to their parasitic constituents feeding them the life blood of the productive citizens. They nourished themselves and have grown to the point where the host can no longer support them. Shame on the democratic party for taking advantage of the less intelligent and employing them as the instrument of extortion and execution of the industrious.

Thu, 05/17/2012 - 19:26 | 2437824 MeBizarro
MeBizarro's picture

You mean like Boomers who are received on average over $30k in SSI, Medicare, and Medicaid funding in 2010?  Reality of it is that we spending massive amounts of the elderly through entitlement programs.  It has greatly reduced elderly poverty rates since '65 but it has come at a massive cost and threatens to completely consume the federal budget by 2030.

Thu, 05/17/2012 - 16:33 | 2437173 PivotalTrades
PivotalTrades's picture

Ok You would ned to do away with all coorporate taxes if you would like to be fair. The money is taxed and then taxes again but you knew that ..you just dont want to be fair.

Thu, 05/17/2012 - 15:28 | 2436845 bobola
bobola's picture

In Feb of 2004, Bush signed an order saying that all unauthorized US flagged vessels were to stay out of Cuban waters.  The feds could even sieze your boat as deemed necessary, if they thought it aided Cuba's 'terrorist' efforts.  It was undertstood to include Canadians.

So, worst case scenario; you have sold the house, cars furniture...etc... and live on a sailboat - it is your domicile. 

You are heading south toward the Caribbean.  You are in a marine store in Miami buying charts and other boat gear.  You ask the sales person if thet have a chart kit for Cuba.  A Coastie overhears the conversation...

You have just risked losing your sailboat...!!!!!!

Little known fact; the Coast Guard has the right to board any US flagged vessel anywhere at any time.   If you refuse to let them board, they will treat you as if you have committed a crime, and will force you to let them board, at gunpoint if necessary.

What freedoms...????

Thu, 05/17/2012 - 15:32 | 2436875 mrdenis
mrdenis's picture

I hope Corzine got out already .......

Thu, 05/17/2012 - 15:36 | 2436897 blindman
blindman's picture

@.." Oh yeah, it’s also made things damn easy for the CIA, NSA, and FBI. You’d think Uncle Sam would pin a medal on his chest."
.
facebook is the nsa, cia, fbi ..etc. zam zam.(waters)
and it has little to do with any uncle named sam
or zed or whatever, it is about banking.(money system).
legal tender and associated control laws outlawing liberty
sans official protection, aka freedom from govern-ment.
or govern-mint. or juicy fruit gum doubling the pleasure
and fun, gover-mint gum.
maybe the first obvious intelligence community ipo?
please, help me jesus.

Thu, 05/17/2012 - 15:41 | 2436921 willpoi
willpoi's picture

Are things are going to to become so bad that more people like Saverin will try to leave? Maybe the Dems just tipped there hand and revealed that they're not through converting this place into a socialist waste land.

Thu, 05/17/2012 - 16:08 | 2437025 Rick Masters
Rick Masters's picture

Fuck saverin. He sued his best friend. The reason they essentially kicked him out of facebook in the begininning is because he wasn't there. And didn't he admittedly make his money by specualting on oil. I;m not saying that's wrong but laet's not act like he is creating jobs. He isn't and didn't. He worked at fucking lehman Bros. for christ sakes. (Sorry Jesus for bringing you into this).

Thu, 05/17/2012 - 19:30 | 2437834 MeBizarro
MeBizarro's picture

Exactly.  That Severin was a key creator in Facebook is a freaking joke and no friends who I have that work in Silicon Valley regard him as any more than a guy who just was in the right place, at the right time, and friends with the right guys.  He did none of the coding of the software and wasn't even involved in the business on a day-to-day basis when it really was getting up and running in '06 or '07. 

Thu, 05/17/2012 - 15:44 | 2436931 QuackAttack
QuackAttack's picture

Why are all of you morons supporting tax evasion. The rules already benefit the wealthy. Was it not this system and the rules within that provided him the ability to make the money. You fucking greed whores are the primary example of why capitalism was doomed from the beginning.

Thu, 05/17/2012 - 17:05 | 2437325 Umh
Umh's picture

Why don't you move somewhere that will increase your tax burden?

 

Thu, 05/17/2012 - 15:44 | 2436934 udaman
udaman's picture

hey simon you f-er!

don't spout that stupid line "top 1% pay 40%" or whatever the F you think it is

how much do the top 1% "earn"?

do they earn 35% but pay 40%? that would be "unfair" TO THEM

but if they "earn" 50% and pay 40%, that is "unfair" TO US

you dumbass

[I am not in the top 1%]

Thu, 05/17/2012 - 16:03 | 2437006 Rick Masters
Rick Masters's picture

And not neglects all the other taxes. I'm so tired of the poor 1 percent paying 40 percent of the income tax as if that is the only tax there is. And they have the money and power to avoid other sorts of taxes unlike their less wealthy counterparts.

Thu, 05/17/2012 - 16:36 | 2437195 PivotalTrades
PivotalTrades's picture

Moron top 1% earned @17% of taxable income.

 

Thu, 05/17/2012 - 15:47 | 2436946 FlyinaRage
FlyinaRage's picture

I live on Earth, not "in America". The only thing that has changed is you perpective on what institution does. All monetary governments operate the same, they enforce rules beneficial to the established plutocracy. As long as the monetary competition exists, the rules propagated will be rewarding to the "winners", and punishing for the "losers", naturally.

Thu, 05/17/2012 - 15:57 | 2436983 NaN
NaN's picture

Now that Predator drone strikes against US citizens are allowed, the last advantage of being a US citizen is moot; big mistake by congress.  (While the Predator has not been used to explode a citizen inside the country, it has recently been used for internal, non-border surveillance.  The trend is clear.)

Eduardo Saverin made a mistake being very vocal about becoming an expat before doing it; petty bureaucrats will never forget.

Even the Roman empire knew that granting rights and "partial" citenzenship to conquered peoples was an inexpensive way to keep them happy.  Those that don't know history might take too long to repeat it.


Thu, 05/17/2012 - 15:59 | 2436986 kill switch
kill switch's picture

$500,000,000.00 

This is nothing more than a financial Iron Curtain. We don't need no stinking wall!!! We are so fucked me thinks.

Thu, 05/17/2012 - 16:02 | 2437005 nick howdy
nick howdy's picture

"The other major complaint seems to be that the wealthy are ‘abusing’ capital gains rules in order to pay a 15% rate instead of a 35% rate. Duh. That’s why they’re wealthy, and stay wealthy… they don’t WORK for a living, they OWN assets which are subject to capital gains."

So basically you're saying that if you are rich enough to have a lobby to ensure tax policy is in your favor that that is fair?

It's funny that there is an entire populace out there that thinks that if they an have avantage that that is fair and when they don't, it is not..

The tax system isn't fair to anyone and it promotes the wrong behavior all around.

You want to know what is fair? No tax breaks for anyone all pay the same no matter what kind of income...10% sounds nice to me..

1% pay 40% in federal taxes sure, but who the fuck set it up that way? The 1%.. Set up to keep the poor people quite, while they are getting raped of their freedom and liberty..

You forgot about that cap on SS also..Why is that there? That's fair?

You sir haven't presented problems you just complain about the down and out and how they have the nerve to not be dead yet.

Some of those wealthy "productive" people have not made their money because they provided value to the world. Some are just people who extract money from others and they cosider this their birthright..

BTW this isn't a free society and hasn't been since 1913.

This country is a Kleptocracy and you are just another person who fell for the Ayn Rand BS. Who BTW was a SS recipient.

Cocksucker.

Thu, 05/17/2012 - 16:08 | 2437023 billwilson
billwilson's picture

Why does the US, unlike every other civilized country, tax on citizenship ... not on residency? It has only itself to blame for the increasing line ups of people wanting to renounce their citizenship.

Thu, 05/17/2012 - 16:16 | 2437070 Shizzmoney
Shizzmoney's picture

A) Despite the much deserved public lynching, Saverin has the right to move, and renouce, anything he wants.  He's a free soul, that's *his* right (which he'll pay the price for, gladly from an ROI standpoint).  No need to write up legislation here.

B) My citizenship is worth more than 67 million or so of the tax Edurado would pay; granted, the government (or should i say "The Corporation of America"), tests my will each day with that statement.

Thu, 05/17/2012 - 16:24 | 2437117 impermanence
impermanence's picture

This guy simply created another method to transfer $. 

Facebook created not a plug nickel's worth of wealth. 

Thu, 05/17/2012 - 19:31 | 2437836 BigJim
BigJim's picture

 This guy simply created another method to transfer $. 

Facebook created not a plug nickel's worth of wealth.

Clearly the people who use it everyday, and those who pay to have their advertising displayed on it, don't agree.

But I suppose you're better at deciding what they should do with their time and money than they are. Have you considered running for office? Think how much wealth you could create!

Thu, 05/17/2012 - 16:34 | 2437180 dexter_morgan
dexter_morgan's picture

facism, bitchez!

Thu, 05/17/2012 - 17:18 | 2437391 goodrich4bk
goodrich4bk's picture

Let's get something straight here.  Saverin came to this country asking to be a citizen so he could escape, allegedly, threats of violence in his native country of Brazil.  He took up a seat at Harvard, which gave him access to Zuckerberg and hundreds of other Americans.  He was protected and nourished by our country.

He has every right to leave, as do any of us.  But if those of us who remain, who pay for and abide by the laws we as free citizens enforce, wish to exclude his return, there is absolutely nothing wrong, immoral or un-American about our choice to de-friend Mr. Saverin.

Thu, 05/17/2012 - 17:26 | 2437417 squeal
squeal's picture

"they don’t WORK for a living, they OWN assets which are subject to capital gains.

It seems so bizarre that a country once regarded as the freest, most economically enviable in the world would treat its productive citizens with such hostility."

 

How can they be productive if they don't work, Mr. Black? You people are parasites, not producers. Labor produces, capital exploits...plain and simple. "Trickle-down" is a myth created for the purpose of getting the proles on board for their own ass-fucking....

And you're right about the whole "fair" thing not being a valid argument. Just don't make the mistake of bringing up "fairness" when the have-nots realize that they have the power to take what you have.

Thu, 05/17/2012 - 17:39 | 2437474 SmittyinLA
SmittyinLA's picture

It isn't often a lamb lays his head down on a golden platter and begs to be slaughtered.

Facebook should use Charles Schumer as demonstration platform for its economic & political capabilities.

Schumer is safe only as long as his constituents are clueless as to his and his donor's activities.

Facebook in theory could ruin Schumer's reputation so badly by simply informing the voting public of Schumer's activities-AND LIABILITIES that not only would Schumer not be re-elected, he may even be recalled or worse still be forced to flee the country to avoid criminal prosecution.

Or better yet Facebook should sponsor referendums in every state that allows imposing a 100% tax on unspent Congressional campaign funds, or no more "keep the bribe money when you retire" program.

And while they're at it propose an "electronic voter act" and let the mob rule directly-on eveyrthing, no more delegates.

America doesn't need mob leaders like Schumer anymore, we have facebook!

Thu, 05/17/2012 - 17:39 | 2437475 SmittyinLA
SmittyinLA's picture

It isn't often a lamb lays his head down on a golden platter and begs to be slaughtered.

Facebook should use Charles Schumer as demonstration platform for its economic & political capabilities.

Schumer is safe only as long as his constituents are clueless as to his and his donor's activities.

Facebook in theory could ruin Schumer's reputation so badly by simply informing the voting public of Schumer's activities-AND LIABILITIES that not only would Schumer not be re-elected, he may even be recalled or worse still be forced to flee the country to avoid criminal prosecution.

Or better yet Facebook should sponsor referendums in every state that allows imposing a 100% tax on unspent Congressional campaign funds, or no more "keep the bribe money when you retire" program.

And while they're at it propose an "electronic voter act" and let the mob rule directly-on eveyrthing, no more delegates.

America doesn't need mob leaders like Schumer anymore, we have facebook!

Thu, 05/17/2012 - 17:43 | 2437493 Henry Hub
Henry Hub's picture

***country once regarded as the freest, most economically enviable in the world would treat its productive citizens with such hostility***

Finally someone has the intestinal fortitude to speak up for the 1% in this country. It make me sick all the criticism of the wealthy and the high earners. These people are the job creators! They have no one to look out for them. These people are working night and day to create job for Americans and what do the get - nothing criticism, calumny and recriminations.

Sure some people say that they have high priced lobbyists and lawyers to promote and look after their interests. That they own Congress and most government agencies. That they have been perusing class warfare against the middle class for thirty years or longer. Exporting jobs and encouraging cheap illegal labor. But I say PHOOEY to that. The 1% are the true salt of the earth and deserve our honor and gratitude!

Thu, 05/17/2012 - 19:08 | 2437761 Vlad Tepid
Vlad Tepid's picture

Yes!  He used "drivel" correctly!

Thu, 05/17/2012 - 19:10 | 2437770 exodus11
exodus11's picture

Just say no.

Thu, 05/17/2012 - 19:36 | 2437845 MeBizarro
MeBizarro's picture

Can we please stop this masturbatory talk of Severin as a job creator or some kind of genius?  He was neither.  Guy who was in the right place, right time, and friends with the right guys who supplied some basic startup money through his family & not much more.  That's it.  He's no coding genius or software engineer expert.  No business genius either who was involved with the day-to-day of Facebook when it was growing by leaps and bounds either in '06 and '07.  

Schumer/Casey's bill is a$$ine and just something to placate the Democrat base in an election year.  Nothing more than that and it will go nowhere in the Senate.  Both know that.  It is just empty rhetoric to score some easy point off a popular talking point in the current news cycle.  

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