Forum Post: Retroactive taxation.
Posted 11 years ago on Sept. 21, 2012, 8:39 a.m. EST by richardkentgates
(3269)
This content is user submitted and not an official statement
I'm tired of the bitching about overseas tax havens. Why? Because it's just bitching with no intention or effort to go beyond that.
I say, put the issue to rest. Find American citizens with overseas tax haven, and tax them retroactively for the entire amount of dollars and time as can be proven that the money was being sheltered from taxes. Been stashing 4 billion in an island bank since 1979, you get the current tax rate for each year for 33 years and the penalties for each year of non-payment.
All in all, this should snatch every red cent of some 1%ers, leaving them broke, and go a long way to repaying what they've stolen just in the last 5 years.
Just a thought.
Can we maybe start with now deceased senator Ted Kennedy's (Democrat) estate which was sheltered in Fiji in an offshore trust.
The trust is $300 million and the Kennedy's have paid $132,000 in taxes on it, or about .004% tax rate.
Hmmmmmmmmmmmmmm.
I made no exceptions in the post. I also did not mention party. The suggestion I make could not be more fair or simple.
So?
That's chicken feed, compared to the 21 to 32 trillion out there hidden away.
Who cares? If you're going support confiscation, STOP excusing the hiding of income that lefties practice.
What confiscation?
Have you been shooting spitballs in class again?
what about Americans that work both over seas and at home
American citizens pay American taxes. It's a pretty simple concept.
yes we do but now what about the money they have in these banks should they be taxed extra because they have money in a foreign bank
Who said anything about extra. American citizens pay American taxes.
and they are
but people are purposing an extra tax on their money for having it in foreign banks
I'm not addressing that. I am addressing the actions that would be taken toward anyone who was found guilty of tax evasion. You pay the backed taxes and penalties. If you have money overseas but paid the taxes on it, no harm no foul.
then touche sir but i still see no problem of having money in overseas banks like many people do
Neither do I.
good
The USA is one of the few countries of the world which levies personal income tax on all its citizens: not only on its residents – citizens or non-citizens – but also on its citizens who do not live in the country. All citizens of the United States are taxed under the same personal income tax system, regardless of whether they live in the country or abroad.
This citizenship-based taxation is very unique. How unique? Only the U.S. and Eritrea do so.
Several countries tax non-residents for a short period after they move abroad. For example, an individual who leaves a country may continue to be taxed until he has been a non-resident for at least 6 months or a year.
But permanent, lifelong taxation regardless of residency is extremely rare. In 1995, the U.S. Congress took (yet another) look at the situation and found that only 3 countries in the world taxed based on citizenship rather than residency: Phillipines, Eritrea, and the United States.
A year later, the Phillipines ended its citizenship-based tax regime.
As for Eritrea, it imposes a special 2% tax on all Eritreans abroad – dual-nationals included – in order to fund the dictatorial one-party government which has ruled since independence in 1993. This is a special tax on citizens abroad, as opposed to the U.S., which imposes the same tax regime on citizens regardless of where they reside.
o i know about this.
I also know that where this person is working they would be taxed doubled if the company didnt pay for the UK taxes. Its a weird world but get even weirder when i hear people saying we should tax Americans more who work overseas.
This is a problem for you because??
Because it shows how tyrannical we're becoming in the name of progressive money grubbers and the lazy.
Money grubbers?? You mean Romoney, Dimon, Cheney?
They sure do like to grubble around in their money. Don't they?..........:)
No, I mean the DNC, George Soros and the rich limousine lefties like John Kerry and Nancy Pelosi. Jamie Dimon is a dummocrat.
What? No Buffet? Yer slippin'.
So in your world only (R)epelican'ts should be allowed to have money and power?
Everyone else should what? Just shut up and go live under a bridge?
Be forced to watch FLAKESnews 24/7?
Shooz this person is obviously against taxes and yes is conservative. But he does have one thing right if it is wrong to be rich like the dems have put it why is there so many rich dems
Who said it's wrong to be rich? Not me.
I will say it's wrong to be rich and irresponsible.
I will also say it's wrong to be so rich you just have to buy our government out from under us, just to get richer.
To spend or not spend money in a way to influence, said government.
To hide it, in any way shape or form.
You see. I don't care how much money anybody has. I don't really care what they spend it on, or even if they do.
What I care about is how many people are unable to spend money for a reasonable level on their own lives, because there isn't enough money to go around.
So they don't get hired, or if they do, they don't get paid well enough to do that.
Because there are some very rich people that would rather use their money for less than honorable purposes.
yeah and i think most people are like that
You and me always did at least sorta get along Dan....;)
Hope you got the classes you were hoping for this semester.
they are going great i hope all is going well for you.
I know we dont get along all the time but i do respect you
You've always been reasonable when explaining your position.
That respect goes both ways.
I'm not against taxes. I'm against excessive taxes. Especially when they're wasted by gubment bureaucrats on $2000 toilet seats, the study of cow farts, and intergenerational welfare.
Don't like welfare, do something about deadbeat employers that push their true cost of business onto society and call it free market ideology(Exploitation). Don't like wasteful spending that leads to higher taxes, address corporate welfare and public/private collusion(Fascism).
I think we're in violent agreement. Stop subsidizing everything under the sun and stop putting so many mandates in to place that have lots of unintended consequences.
"The more the plans fail, the more the planners plan" - Ronald Reagan
yes you are right there is a problem with that
"ALLOWED to have"? WTF is that? You act like everything anyone gets paid belongs to the gubment and anything they're allowed to keep is through the good graces of Uncle Sham.
They EARN it. Something you should try sometime.
Excuse me?
What are you carrying on about?
Oh, you're illiterate also. How convenient.
Yeah, I know.
I can't even type.
I guess that's makes us even, 'cause you can't even think.
I had a visit from the grim reaper last nite.
Had to beat him off with a vacuum cleaner.
Talk about dyson with death.
Dyson Mathilda? LOL...................:)
Try feeding him vegemite. He'll leave ya alone.
Apparently not all American citizens do, it is said some 47% (?) do not pay federal taxes, and yet they are permitted to vote in national elections. But that's all part and parcel of our present fiscal irresponsibility.
All citizens 18 yrs & older have the right to vote! Not just those who pay fed taxes. But you know that. Why would you say such an offensive divisive statement.?
If everyone in America paid federal taxes the Dem party would not exist - we'd be one party debating issues - it's the promise of gifts that allows them to attract the vote, which serves to further fiscal irresponsibility.
We are very rapidly reaching the point where those that do not contribute to the treasury outweigh those that do, and that will be the death of us as a Constitutional Republic, whose primary purpose is to promote prosperity.
Nah. You don't understanf the 46% number. a qtr of that number are the elderly who live off of the earned benefit of Social security that they paid into! Another 60% of that 46% work and pay SS, medicare tax, state, city tax, sales tax, but make so little that the Nixon/Reagan earned income tax credit allows them to keep the money they earn in order to feed their families.
Reagan said the earned income tax credit was the best anti poverty program they could implement.
Your republicans are always saying they believe in low taxes and that we should all keep our earned income. Do you exclude low income people now?
The remainder 15% of the 46% are the poorest people 6%, disabled maybe 5% and the soldiers who sacrifice for our freedom. You wanna go after these people.?
It ain't enough money to matter. The better place to focus our revenue increasing efforts are people like your candidate Romney and his tax evading friends at the top!
Willie Sutton said he "robbed banks 'cause that is where the money is". He didn't rob the corner newsboy!
Be as smart as Willie Sutton. Let's go where the money is. Let's tax the $32T of OUR wealth that has been hoarded in tax shelters overseas.
2% on hoarded wealth. Not just the profit made off that wealth! On the principle! Just sittin there doing nothing but makin the 1% low tax/no tax cap gains.!
"That'll do pig"
That's laughable because that's not what Republicans say - what Republicans say is that the working class comfortable and the middle class should pay the taxes.
Yes, all of the above mentioned should pay a minimum of 8 - 10% in federal tax.
People have been saying "tax the rich" since the very inception of Federal withholding; that will never happen. It's not like you've invented something new - in fact, it's this same old attack that has caused most to seek these tax shelters.
They seek tax shelters because their greedy, selfish, & unpatriotic!
The tax system should definitely weigh heaviest on the people who suck up all the wealth! Not the low income people who create thewealth. The earned income tax credit should & WILL be expanded!
Because it is right & fair.
I don't know; paying taxes itself in Un-American. The real question is why government is so corrupt, and why they spend other people's money so feverishly. If that's not greed, I don't know what is.Tax shelters as defense pale in comparison. And in this dept., Romeny I suspect is little fish.
We disagree.
Yea, kinda figured that.
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I like the idea
Hey richard! It's nice to have you back. I thought you had left. Why did you use a bunch of other characters in the last few days? What happened to your Archimedes? Anyways, I think it's good that you're using your original character again. It gets confusing when you have multiple sock puppets going on.
Like the one you're using now? I was just trying to fit in.
Put Anomilus away for a bit and come back to this thread as richardkentgates. I'd like to discuss retrograde taxation. It's a great idea! How could it be implemented while the rich control the politicians? Do you think OWS could force this with protesting? And, how much will all the investigative work cost? Can we afford that right now?
It's not really the same. I mean, I always reveal myself quite clearly. I wouldn't have known about Archimedes and Anomilus if I didn't see your IP information. I get banned, so I don't have a choice. I must change usernames once in awhile.
It's all good though. Jart confirmed using sock puppets and manipulating votes is OK. VQkag2 did it, got caught, and didn't get banned. I asked jart and she said she didn't care anymore.
Anyhow, I just use sock puppets out of necessity. I only have one at a time and I don't manipulate votes.
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That sounds like something a fascist regime would do.