bernard wrote:As everyone has said, you're likely only collecting a fraction of what you put in. Take whatever's coming.

Last time I was unemployed, I was collecting severance and unemployment at the same time. I did feel a little guilty about that at first. I told the unemployment people I had 6 months of severance coming, and wouldn't it make more sense for the unemployment to start after that ran out if I was still looking for work, and they told me that's not how it works. Have to start unemployment right away. Stupid enough to cure me of any guilt.

Same thimg happen to me some years back, I had been wrking for 12 years with the company and they gave me a month salary for every year, a Xmas bonus (brokerage firm) unplymnt, 6 months health care, match my 401k for the next 12 months. Within 3 month i landed a sweet job with GE.

Panos wrote:

nyvector16 wrote:I was trying to drive home was the difference in tax burden an individual making 100K paying 40k in taxes compared to an individual making 100 Million paying less than 20 million in taxes.

I'm showing you factual numbers with links to back them up, and you're making up pure fiction.
No one earning $100M is paying less than $20M in taxes. That's pure fiction.

I'll also show you some facts...
Most rich people don't earn the majority of their "income" wealth via salary. they earn it through Capital gains on Dividends, appreciation, etc...
And here's a link if you want to explore further. http://distributedrepublic.net/archives/2008/10/28/rich-people-pay-most-income-tax

For instance... last year there were a few Hedge Fund managers that earned over 1 BILLION dollars...
but because they earned their money through futures contracts and the like they are only taxed on Capital Gains.. which is 15%.

The super rich have the wool over everyone's eyes on this matter.
And suprise suprise.. who wants to eliminate Capital Gains taxes all together? The Republicans

If it was up to them the rich would pay 0 cents on the dollar for their "Capital Gains".

I won't get into the economics of buying up futures on essential commodities to inflate prices to make a buck on the hedge and everyone else gets stuck paying for over-inflated prices on food, oil, electricity... you name it.

And here's another link for you if you really did not get enough information from my first link...
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html

You see, wealthy people don't actually make any income per se. They also defer/minimize their income for as long as possible, all the while their income producing assets are preserved. They are 'employees' of shell companies that provide 'benefits' that are tax deductible to the shell company. There are many many ways. Because the tax laws are so complex, and enforcement is understaffed, there are many people getting away with not paying their fair share of taxes.

Wealthy individuals and corporations have many many ways to avoid paying taxes. The tax code is bloated, and complex. No one understands all of it! If we went to a straight, unavoidable 15% tax rate, I bet we would net more taxes than the current progressive income tax with its exemptions, deductions, loopholes etc. Obama is trying to correct things by hiring more enforcement agents, but it's like trying to plug a dam with a pinky. The real solution is to simplify the tax code.

Alot of these things I know from my good buddy who's an LLM ex tax lawyer who couldn't stomach it anymore. I also did some research for myself when I was in real estate focusing on 1031's and other tax deferral vehicles (private annuity trusts, etc)

Oh and Cash - get over yourself. Take the unemployment. In the grand scheme of things, there are people taking much more from our country than you. You paid for the unemployment insurance, you're just getting it back because hey, you're unemployed. The money that people are collecting for unemployment is a damn drop in the bucket compared to all the tax avoidance going on by corporations and the wealthy.

BasketballJones wrote:I'm not qualified for unemployment insurance, so I'll just have to hustle for more work, and possibly dip into my emergency fund.

oh boy... now he's going to be hitting you up for $$$ when his unemployment runs out

Cash is not collecting unemployment, because anyone in their right mind knows that you pay taxes into unemployment. He is just parroting what he has heard. And it's great to know that the Bush Tax Cuts have stimulated our economy and creates so many jobs over the last 3 years, they did not play at all into the financial collapse two years ago. Or the similar Reagonomics, which did not at all play into the Savings and Loans scandels, or Black Monday. No Republicans are the money party, which is exhibited by the federal debt always doubling when their presidencies end, and usually ending in a financial crisis or a recession.

martin wrote:

toodarkmark wrote:Cash started this discussion to mock those who are collecting unemployment

not really. He asked if anyone felt guilty. Different spin entirely.

You might be right and as Moderator and creator I give you all the deference. It was my interpretation of what he had written.

martin wrote:

toodarkmark wrote:

martin wrote:

toodarkmark wrote:Cash started this discussion to mock those who are collecting unemployment

not really. He asked if anyone felt guilty. Different spin entirely.

You might be right and as Moderator and creator I give you all the deference. It was my interpretation of what he had written.

Yeah, Internet posts are often times hard to interpret meaning, right? Cash seems to be speaking about his own plight. Not too much mention of others, so that whole mocking part is probably way off.

On the other side of the spectrum, could be that it's just a lazy-time post about his life at the moment and his own lack of ambition because of unemployment - sitting around in underwear smoking the day away. Is that mocking others or just being lazy?

im busting my ass in my office right now (btwn posting on the site of course!) reading through a 200 pg law suit. frankly, i'd rather be in my underwear smoking a fattie too lol!

to each their own i guess, but cash in some parts of this thread seems to be having an argument with himself. indication of maybe its time to put the weed away...