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Über Rich Renouncing U.S Citizenship as IRS Cracks Down on Tax Evaders [W:209]

Moot said:
From 1933 (Glass–Steagall Act) until 1999 (Gramm–Leach–Bliley Act), the United States maintained a separation between investment banking and commercial banks. Once that separation was removed in 1999, the wealth of the nation got sucked dry with investment schemes that were once illegal. Removing that law only seems to have benefited the top 1% to 10% of the population.
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I need to see some proof of your idiotic claim that "the wealth of the nation was sucked dry"

and what did that separation actually prevent?
 
Henrin said:
Is that so? I bet I can beat it.

Patriotism is only a way to quilt people in doing what you want them to do. People that use it try to put a connection in people to a country that doesn't even exist. It is trying to quilt people in thinking they should be responsible for everyone or help the country as a whole.

Did I beat it?
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He's gonna spew the bit about higher taxes on the rich being as American as mom and apple pie. what was that claim-patriotism is the last refuge of the scoundrel ? well today its the last refuge of the tax hiking welfare socialists
 
Moot said:
From 1933 (Glass–Steagall Act) until 1999 (Gramm–Leach–Bliley Act), the United States maintained a separation between investment banking and commercial banks. Once that separation was removed in 1999, the wealth of the nation got sucked dry with investment schemes that were once illegal. Removing that law only seems to have benefited the top 1% to 10% of the population.
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Well, unfortunately, lending standards were relaxed, and the CRA was strengthened as a result of deal-making between Dems and Reps, to garner support for the repeal. The entire debaucle was a recipe for disaster, and both parties equally share the blame.
 
haymarket said:
I have no idea what you are raving about. If you got that from my posts it is because you perverted the true meaning of them beyond all reality and turned them into some frankensteins monster version of my actual beliefs.
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I'm talking about more than just you. I'm talking about the group you belong to and what they do and would do if the rich stopped holding up their belief system. Say I'm wrong if you want, it doesn't change how you present yourself and the actions you have been known to take.
 
Henrin said:
Is that so? I bet I can beat it.

Patriotism is only a way to quilt people in doing what you want them to do. People that use it try to put a connection in people to a country that doesn't even exist. It is trying to quilt people in thinking they should be responsible for everyone or help the country as a whole.

Did I beat it?
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My sig says it better. lol
 
lizzie said:
A part of what caused out melt-down is that banks weren't denying loans, when they should have.
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Which means nothing, other than they rode the line too hard trying to net people into lifelong debt commitments to the bank.

The purpose of a financing company is to net people into as long of a debt ride as you can take them for without actually utterly destroying their ability to make payments, because that's where the profits end.
 
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Morality Games said:
Which means nothing, other than they rode the line too hard trying to net people into lifelong debt commitments to the bank. The purpose of a financing company is still to net people into as long of a debt ride as you can take them for without actually utterly destroying their ability to pay.
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And those people are surely having their arms twisted, as they sign the contract. Give me a freaking break.
 
TurtleDude said:
I need to see some proof of your idiotic claim that "the wealth of the nation was sucked dry"

and what did that separation actually prevent?
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The number of foreclosures is proof enough.

The separation helped prevent investment banks from gambling with depositors money held in affiliated commercial banks.
 
Moot said:
The number of foreclosures is proof enough.

The separation helped prevent investment banks from gambling with depositors money held in affiliated commercial banks.
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uh massive fail.
 
lizzie said:
And those people are surely having their arms twisted, as they sign the contract. Give me a freaking break.
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I'm not sure how their motivations are relevant. Obviously people who are seeking a loan on a home have a predisposition to want to believe that they will be able to make those payments and free themselves of the debt, and the bank has a predisposition to want to make them believe that too.

Indeed, one of the legal points that could have been pressed widely against the financing industry was fraud, as they routinely pushed that predisposition over the line of legally acceptable. However, there aren't enough white collar prisons to hold an entire industry of people who were complicit in such activities. And in any case, doing so would defeat the purpose of multi-trillion dollar bailouts, as it would keep the stock markets in disarray for Wall Street's leadership to be packed off the prison.

Hooray for no consequences for anyone except the people who got foreclosed on. Yaayyy!!!
 
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Moot said:
By whose standards? Yours? ROTFL
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I speak for myself, I don't pretend to be one of many sheep bleating for the herd
 
lizzie said:
Well, unfortunately, lending standards were relaxed, and the CRA was strengthened as a result of deal-making between Dems and Reps, to garner support for the repeal. The entire debaucle was a recipe for disaster, and both parties equally share the blame.
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Yup, Clinton signed the repeal into law, didn't he?
 
TurtleDude said:
I speak for myself, I don't pretend to be one of many sheep bleating for the herd
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Meh, most of the sheeple think they are unique, so I guess that makes you unique too.
 
Morality Games said:
I'm not sure how their motivations are relevant. Obviously people who are seeking a loan on a home have a predisposition to want to believe that they will be able to make those payments and free themselves of the debt, and the bank has a predisposition to want to make them believe that too.



Hooray for no consequences for anyone except the people who got foreclosed on. Yaayyy!!!
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Make no mistake- I think every bank doing unwise business should have been allowed to fail- across the board. No bailouts, period. That being said, people who borrow money should not do it without considering the risks. To do otherwise, is to be foolish. If you are taken for a fool, it's nobody's fault but your own.
 
Moot said:
Meh, most of the sheeple think they are unique, so I guess that makes you unique too.
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you are the one who wants the safety of big brother's pen to keep you safe from the wolves on the range
 
lizzie said:
Make no mistake- I think every bank doing unwise business should have been allowed to fail- across the board. No bailouts, period. That being said, people who borrow money should not do it without considering the risks. To do otherwise, is to be foolish. If you are taken for a fool, it's nobody's fault but your own.
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Keyword: Fraud.

Putting numbers on papers that are false to convince people to sign stuff.

Saying you don't support bailouts is easy, but the spurs the destruction of the American dollar and lead to an economic dark age, from which the emergent economic powers are (1) uncertain and (2) in the spirit of 1, not necessarily the United States of America, which is unacceptable to the United States of America, because everyone in it lives off of being a superpower.
 
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Mycroft said:
Those guys can see the writing on the wall. They know that the government is going to succeed in raising their taxes soon. Heck, if I had a lot of money, I'd be leaving too. This country is becoming nothing but a money sucking machine aimed at those big bad rich guys.
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Should we break out the brie to enjoy with your whine? Like Faux News, you are purveying ideas that are not consistent with reality. Taxes on the wealthy have been falling for years and the environment for maintenance or further lowering of taxes is as good as ever.

nytimes_taxes_graph.jpg
 
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Oh, look at that. Another nominal v effective tax rates fail :)
 
Moot said:
Apparently its mostly the wealthy already living abroad who are renouncing their citizenship for tax reasons. Taxes or no, is Europe really a better place to safeguard their wealth than the US?
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I remember reading articles about that and I know some expats living aboard. It seems like expats from other countries believe America treats theirs unfairly. Most other countries do not make their citizens pay taxes if they live aboard. As some expats will explain, they review it as taxation without representation. I can understand why it would be frustrating.
 
People who renounce their citizenship shouldn't be allowed to hide behind Citizens United and influence our government. **** that. That better not be happening, but I am sure it can happen.
 
upsideguy said:
Should we break out the brie to enjoy with your whine? Like Faux News, you are purveying ideas that are not consistent with reality. Taxes on the wealthy have been falling for years and the environment for maintenance or further lowering of taxes is as good as ever.

View attachment 67127796
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Only because the Republicans have succeeded in keeping the Democrats in check...but how long is THAT going to last? Especially if Obama gets re-elected. You DO know what's going to happen in December...right?

btw, if you aren't going to post a pic big enough for old guys like me to read...don't bother posting them at all.
 
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haymarket said:
And I strongly urge you to exercise that option.
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Btw hay, what exactly am I supposed to do anyway?

You say you want me to leave but then if I do you yell and scream and call me names for leaving. The only possible thing you could really want is for me to sit down and shut up so you can use me without listening to my protest. Anything else doesn't make any sense if your words are to believed.

Though I'm guessing I'm just creating monsters again..
 
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