Peter Schiff: "I?m the 1%, Let?s Talk" - Page 2 - GoFuckYourself.com

devilspost · 11-07-2011, 12:17 PM

50 assholes

Axeman · 11-07-2011, 12:30 PM

He has a longer 18 min video of this session with many more people. I found it very interesting.

Sunny Day · 11-07-2011, 12:41 PM

Quote:

Originally Posted by 12clicks

thats like saying "prove the sky is blue"
its obvious.

fed top tax rate 33%
NY state tax rate 8.97%
NY City tax rate 12.62%

that looks like 54.59%
knock off 4.5% for deductions and you're still above 50%

If his accountant pays that. He should be fired. Taxes are paid by the stupid or poor.

My last job was to give a company a $30,000,000 tax write off, for which I got a $1,000 bonus. Worked 16x7 on the paperwork ,and still didn't make one of bonus the goals. But I was honest, and told by boss, I didn't make it. Could have lied, he would have never known. Lost $2000 + a week's paid vacation.

porno jew · 11-07-2011, 12:47 PM

fuck that guy. the sheep made him rich and they line up to be fleeced.

12clicks · 11-07-2011, 12:54 PM

Quote:

Originally Posted by Sunny Day

If his accountant pays that. He should be fired. Taxes are paid by the stupid or poor.

please son.
once you make enough to need an accountant you'll realize there is no magic accountant that makes your tax on taxable income disappear.

mineistaken · 11-07-2011, 01:12 PM

Why some people say he is arrogant in this video? I only see him trying to have normal discussion with some incapable ones

Imortyl Pussycat · 11-07-2011, 01:38 PM

my favorite trick or treater of the night on Halloween had written on a white t-shirt "occupy wallstreet, i'm the 99%". he held a picket sign that said "give me all your money" but crossed out money and wrote candy in red next to it. loved it

cykoe6 · 11-07-2011, 02:02 PM

Quote:

Originally Posted by 12clicks

please son.
once you make enough to need an accountant you'll realize there is no magic accountant that makes your tax on taxable income disappear.

Yea you can also which idiots have never actually had any income to tax by their absurd comments about how only stupid people pay taxes. Successful smart people pay taxes and stupid people march in the street screaming for more handouts.

Nembrionic · 11-07-2011, 02:53 PM

Quote:

Originally Posted by wehateporn

Just to make it clear where I stand, I wrote an article which has now gone viral on the net, calling for people to get off the streets. Thousands of websites and forums linked to it and are currently debating it

You would have had to have waited to see where I was going with my hypothetical question; it was a wolf dressed up as a sheep

It's easy to get read by thousands of tin foil hats. All you need to do is write something that totally doesn't make any sense at all and put it on a domain that's really stupid and cotains the word "truth"

BFT3K · 11-07-2011, 05:49 PM

Peter Schiff and Harold Camping... like 2 peas in a pod!

https://youtube.com/watch?v=EZ2u3RmspYg

kush · 11-07-2011, 06:48 PM

Quote:

Originally Posted by 12clicks

thats like saying "prove the sky is blue"
its obvious.

fed top tax rate 33%
NY state tax rate 8.97%
NY City tax rate 12.62%

that looks like 54.59%
knock off 4.5% for deductions and you're still above 50%

It's only obvious to those people that know the facts.
And for better or for worst, most people simply don't know those facts.

Supz · 11-07-2011, 06:54 PM

Quote:

Originally Posted by wehateporn

Let's say that Peter Schiff creates millions of androids who are capable of doing everyone else's jobs better than them, eventually his androids take all the jobs in the USA. All the money paid to the androids goes to Peter Schiff, he pays tax on it, but there are no jobs for anyone else. Would be be ok to accept this?

well, right now everything is outsources to people who did it about 1% as good as americans. But its also 99% cheaper. So companies do not care about customer satisfaction, just bottom line. Have you ever called outsource customer service? It is the most useless shit on the planet. Which is why there are a lot less jobs in America. So if those androids cost more then 100 people in india. most likely it will not fly.

SmokeyTheBear · 11-07-2011, 09:22 PM

Quote:

Originally Posted by Rochard

I've said this before.... Everyone who is in the 99% would KILL to be in the 1%.

obviously you are wrong or there would be alot more killing.

We are all both 99% and 1% at the same time. I'm pretty sure almost everyone in the usa has it 99% better than the rest of the world, so the 99% is the 1% at the same time.

You are the 99% of the .1% , are you killing people ?

Profits of Doom · 11-07-2011, 09:53 PM

Admittedly I haven't bothered watching the video or reading most of this thread, but I'm drinking tonight and feel the need to rail on the OWS idiots. If the movement was simply about the scumbag banks and auto companies that took huge bailouts and then continued to pay out ridiculous bonuses, or the inside trading shitbags on Wall Street, then I could absolutely get behind that. I'll never understand how one can be bailed out for being a shitty businessman and failing.

But protesting against those that make over $300,000 a year, or the so called 1%, is just plain idiocy. Why should someone be penalized for busting their ass and carving out their slice of what is supposed to be the American dream? It really makes me fucking sick...

Sunny Day · 11-07-2011, 10:11 PM

Quote:

Originally Posted by 12clicks

please son.
once you make enough to need an accountant you'll realize there is no magic accountant that makes your tax on taxable income disappear.

Guess that's why GE paid no taxes last year. $5+ Billion in US Revenue and got a tax refund.
I spent one month beating Florida out of $3,000,000 in sales tax. For every tax law, there are a dozen loopholes. That means the company I worked for, put that much free cash in their bottom line.
Hell one day, using accounting, I made more than any of their 400+ national stores. This is a fortune 750 company. It's not magic.

looky_lou · 11-07-2011, 10:36 PM

Quote:

Originally Posted by 12clicks

thats like saying "prove the sky is blue"
its obvious.

fed top tax rate 33%
NY state tax rate 8.97%
NY City tax rate 12.62%

that looks like 54.59%
knock off 4.5% for deductions and you're still above 50%

Don't forget the sales tax, liquor tax, tobacco tax, gas tax, utility tax, junk food tax, etc etc etc.

DVTimes · 11-07-2011, 11:03 PM

its an interesting vid.

However......

The big thing in the uk is with banks were exacatives are being paid millions and other firms who have not seen profits have had a 50% increase in directors pay.

My mate works for a big bank in the uk. they (the workers) see the execatives as a joke and pay nonsence. He was telling me one of the main directors has phoned in ill as the goverment wanted to interview him. Basicly the goverment bailed the bank out so efectivly own the bank. shares in the bank droped as it was clear he was avoiding the questions.

this is the problem. its not about pay, its about the market force.

in a real market force people would be paid by providing results and profits, yet this is not the case. they are getting pay increases even when profits have gone down.

its more close to comunism than capalism when you pay people this way.

a true market force would stop these problems. the problem is that boh uk and usa do not have a true market force, its geared to help certain people.

DVTimes · 11-08-2011, 12:04 AM

Quote:

Originally Posted by Profits of Doom

Admittedly I haven't bothered watching the video or reading most of this thread, but I'm drinking tonight and feel the need to rail on the OWS idiots. If the movement was simply about the scumbag banks and auto companies that took huge bailouts and then continued to pay out ridiculous bonuses, or the inside trading shitbags on Wall Street, then I could absolutely get behind that. I'll never understand how one can be bailed out for being a shitty businessman and failing.

But protesting against those that make over $300,000 a year, or the so called 1%, is just plain idiocy. Why should someone be penalized for busting their ass and carving out their slice of what is supposed to be the American dream? It really makes me fucking sick...

you have a point.

i am not sure what the 1% stands for, but i fail to see why he is included.

150 people is not a huge firm. and if he owns it, its his business (excuse the pun) what he does.

its the banks who were bailed out but still paying huge execative wages and bouses thats the problem. thats not capatilim, thats comuism, in the fact the market force has no bering on what they do as they are protected.

the banks should have been alowed to fail. but the problem was, they all have protection with other banks. they pay a sort of insurance to other banks. the idea being if you make a less, the bank you pay bails you out. however the losses were so huge it would have meant the banks could not afford to cover the costs, so in turn every bank would fail. so it was seen as the only option was to bail them out in both usa and uk.

nextri · 11-08-2011, 01:52 AM

Quote:

Originally Posted by DVTimes

you have a point.

i am not sure what the 1% stands for, but i fail to see why he is included.

150 people is not a huge firm. and if he owns it, its his business (excuse the pun) what he does.

its the banks who were bailed out but still paying huge execative wages and bouses thats the problem. thats not capatilim, thats comuism, in the fact the market force has no bering on what they do as they are protected.

the banks should have been alowed to fail. but the problem was, they all have protection with other banks. they pay a sort of insurance to other banks. the idea being if you make a less, the bank you pay bails you out. however the losses were so huge it would have meant the banks could not afford to cover the costs, so in turn every bank would fail. so it was seen as the only option was to bail them out in both usa and uk.

Wouldn't it have been better to bail out the people instead of the banks. So the people could pay the banks their loans? win win. After all, it was the tax payers money they used.

wehateporn · 11-08-2011, 03:08 AM

Quote:

Originally Posted by Nembrionic

It's easy to get read by thousands of tin foil hats. All you need to do is write something that totally doesn't make any sense at all and put it on a domain that's really stupid and cotains the word "truth"

It's also less worthwhile as most of these tinfoil are already outside of the common paradigm. This is why I focus my efforts elsewhere, my main target is Political sites

Vendot · 11-08-2011, 03:40 AM

I like Peter Schiff a lot...... its smart Americans like this that give the country a good name (debate aside). The fact is the anti-capitalist movement has no real argument and doesnt propose any realistic alternative either.

He started his business in a 1 bedroom apartment? Good on him....

wehateporn · 11-08-2011, 03:42 AM

Quote:

Originally Posted by Vendot

I like Peter Schiff a lot...... its smart Americans like this that give the country a good name (debate aside). The fact is the anti-capitalist movement has no real argument and doesnt propose any realistic alternative either.

He started his business in a 1 bedroom apartment? Good on him....

He's against the Fed too, he knows where the real problem lies

SomeCreep · 11-08-2011, 06:20 AM

On wall street the Schiffster is a permabear. His solutions for problems in the economy are always way too dramatic and idealstic. He certainly is well educated though.

Sly · 11-08-2011, 09:29 AM

Quote:

Originally Posted by Sunny Day

Guess that's why GE paid no taxes last year. $5+ Billion in US Revenue and got a tax refund.
I spent one month beating Florida out of $3,000,000 in sales tax. For every tax law, there are a dozen loopholes. That means the company I worked for, put that much free cash in their bottom line.
Hell one day, using accounting, I made more than any of their 400+ national stores. This is a fortune 750 company. It's not magic.

You are talking about two different kinds of taxes.

TheSquealer · 11-08-2011, 09:39 AM

Quote:

Originally Posted by nextri

After all, it was the tax payers money they used.

Correction.. it was freshly printed money that they used.

12clicks · 11-08-2011, 11:30 AM

Quote:

Originally Posted by Sunny Day

Guess that's why GE paid no taxes last year. $5+ Billion in US Revenue and got a tax refund.
I spent one month beating Florida out of $3,000,000 in sales tax. For every tax law, there are a dozen loopholes. That means the company I worked for, put that much free cash in their bottom line.
Hell one day, using accounting, I made more than any of their 400+ national stores. This is a fortune 750 company. It's not magic.

people in the top 1% pay tax.
you can talk about GE and other fortune 500 companies all day long, when the money goes into a person's pocket, its taxed. if you live in NY and are in the top bracket, its taxed at 50%

anything else is a lie.

mineistaken · 11-08-2011, 11:52 AM

Quote:

Originally Posted by SmokeyTheBear

obviously you are wrong or there would be alot more killing.

We are all both 99% and 1% at the same time. I'm pretty sure almost everyone in the usa has it 99% better than the rest of the world, so the 99% is the 1% at the same time.

You are the 99% of the .1% , are you killing people ?

It was just the expression. Obviously you won't be bumped to 1% if you actually killed.

Sunny Day · 11-08-2011, 01:02 PM

Quote:

Originally Posted by 12clicks

people in the top 1% pay tax.
you can talk about GE and other fortune 500 companies all day long, when the money goes into a person's pocket, its taxed. if you live in NY and are in the top bracket, its taxed at 50%

anything else is a lie.

http://money.cnn.com/2011/10/13/news...rule/index.htm

"The Congressional Research Service found that 94,500 millionaires pay an effective federal tax rate that is less than that paid by 10.4 million moderate-income taxpayers."

Sunny Day · 11-08-2011, 01:09 PM

A lot of the rich have their money invested in municipal bonds.

Live in NY City, buy bonds issued by the City of NY, pay no city, state or federal tax. Doesn't matter how many millions in interest you earn.
Buy a bond issued by any other NY Govt agency, you would have the city tax.
Buy a bond issued by a govt agency outside of NY State, you'd only be exempt from federal tax

12clicks · 11-08-2011, 01:19 PM

Quote:

Originally Posted by Sunny Day

A lot of the rich have their money invested in municipal bonds.

Live in NY City, buy bonds issued by the City of NY, pay no city, state or federal tax. Doesn't matter how many millions in interest you earn.
Buy a bond issued by any other NY Govt agency, you would have the city tax.
Buy a bond issued by a govt agency outside of NY State, you'd only be exempt from federal tax

please son, we've been down this road with every other village idiot.
earned income in NY in the highest bracket is taxed at over 50%

no one is talking investment income.

12clicks · 11-08-2011, 01:21 PM

Quote:

Originally Posted by Sunny Day

http://money.cnn.com/2011/10/13/news...rule/index.htm

"The Congressional Research Service found that 94,500 millionaires pay an effective federal tax rate that is less than that paid by 10.4 million moderate-income taxpayers."

odd that the CBO would report this then:

http://www.washingtonpost.com/blogs/...d0iK_blog.html

When you add up all of the various taxes, and look at the effective tax rates, it is clear the tax system is already pretty progressive. Everyone pays some tax, even those who pay no federal income taxes, and the wealthiest pay a larger percentage share of taxes. Here?s the effective tax rate for all of the groups, according to the CBO:
Lowest quintile (23.4 million taxpayers), zero to $18,900: 4.3 percent
Second lowest quintile (22.4 million), $18,900-$32,100: 10.2 percent
Middle quintile (22.9 million), $32,100-$47,400: 14.2 percent
Fourth quintile (23 million), $47,400-$71,200: 17.6 percent
Highest quintile (23.6 million), above $71,200: 25.8 percent
Top 10 percent (12 million), minimum income of $98,100: 27.5 percent
Top 5 percent (5.9 million), minimum income of $134,400: 29 percent
Top 1 percent (1.1 million), minimum income of $332,300: 31.2 percent

Sunny Day · 11-08-2011, 01:41 PM

http://www.politicususa.com/en/koch-taxes

Buffett was candid in revealing that his tax burden was barely 17.4% on his income and nothing in payroll taxes...

Factored in with Koch?s approximately 17% tax liability means they still do not pay as much as an average middle-class taxpayer who pays nearly 25-38% in total taxes. It is hardly equitable, but paying their fair share is not what the Koch brothers are about.

At least one Koch brother lives in NYC, doesn't sound like he's paying 50+%

inabon · 11-08-2011, 01:52 PM

can someone explain to me the difference of today´s USA and any third world country?

i see the same shit in US TV as i see here in Panama

lazy fucks complaining that only a few managed to make it big and demand they pay for the lazy fucks.... no difference.

Government being ran by corporate fucks that make laws so that the corrupt politicians can fill their pockets 1 government people at a time. I guess size is the difference

in Panama you get a small amount of "mafia corrupt fucks" in government ever five years i guess the USA has a big amount of mafia corrupt fucks

sorry for the guys ding the occupy crap but they really should be occupying Washington and every senators parking lot.

the rich not related to government have nothing to do with this it is just business and obviously we are all here to make money

12clicks · 11-08-2011, 02:17 PM

Quote:

Originally Posted by Sunny Day

http://www.politicususa.com/en/koch-taxes

Buffett was candid in revealing that his tax burden was barely 17.4% on his income and nothing in payroll taxes...

Factored in with Koch?s approximately 17% tax liability means they still do not pay as much as an average middle-class taxpayer who pays nearly 25-38% in total taxes. It is hardly equitable, but paying their fair share is not what the Koch brothers are about.

At least one Koch brother lives in NYC, doesn't sound like he's paying 50+%

here, I'll dumb it down for you. just for fun. its obvious you don't have the ability to learn.

koch EARNS $1m in NYC. he pays approx. 50% on his EARNINGS leaving him with $500k
He then takes that already taxed $500k and invests it. If he should happen to profit from his INVESTMENT, he's taxed on his INVESTMENT income at 15%

There's a reason you're posting on a porn board middle of the day instead of working as an accountant somewhere.

12clicks · 11-08-2011, 02:21 PM

oh, and as far as equitable goes, buffett, koch and the rest of your betters pay multiple millions of dollars every year for the governmental services you get for free.

Rochard · 11-08-2011, 02:24 PM

99% of the people wish they were the 1%

12clicks · 11-08-2011, 02:28 PM

Quote:

Originally Posted by Rochard

99% of the people wish they were the 1%

sadly for them, it takes more than wishes to become the 1%

$5 submissions · 11-08-2011, 05:11 PM

Quote:

Originally Posted by wehateporn

He's against the Fed too, he knows where the real problem lies

Exactly. Austrian School FTW. We need that ideology here in the Philippines.

11-07-2011, 12:17 PM	#51
devilspost Confirmed User Industry Role: Join Date: Feb 2004 Location: Tampa yomebe -at- hotmail Posts: 3,980	50 assholes __________________ Brothels and Escorts Worldwide.

11-07-2011, 12:30 PM	#52
Axeman Confirmed User Join Date: Feb 2004 Location: Swamp Posts: 5,201	He has a longer 18 min video of this session with many more people. I found it very interesting. __________________ XXXRewards - Karups - Boyfun - Jawked. Paying on time since 1997. Contact me at brent [at] xxxrewards.com

11-07-2011, 01:38 PM	#57
Imortyl Pussycat Confirmed User Join Date: Apr 2006 Location: Cali Posts: 5,449	my favorite trick or treater of the night on Halloween had written on a white t-shirt "occupy wallstreet, i'm the 99%". he held a picket sign that said "give me all your money" but crossed out money and wrote candy in red next to it. loved it __________________ Julie Larson julie {at} juicyads.com skype: imortylpussycat Buy & Sell Ads on The Most Sexy Advertising Network on the Planet available ad spots \| sign up now

11-07-2011, 09:53 PM	#64
Profits of Doom Monster Rain Industry Role: Join Date: Feb 2004 Location: Mongo Posts: 4,978	Admittedly I haven't bothered watching the video or reading most of this thread, but I'm drinking tonight and feel the need to rail on the OWS idiots. If the movement was simply about the scumbag banks and auto companies that took huge bailouts and then continued to pay out ridiculous bonuses, or the inside trading shitbags on Wall Street, then I could absolutely get behind that. I'll never understand how one can be bailed out for being a shitty businessman and failing. But protesting against those that make over $300,000 a year, or the so called 1%, is just plain idiocy. Why should someone be penalized for busting their ass and carving out their slice of what is supposed to be the American dream? It really makes me fucking sick... __________________ “My Free Cams Affiliate Program by CrakRevenue”

11-07-2011, 11:03 PM	#67
DVTimes xxx Industry Role: Join Date: Jun 2003 Location: UK Posts: 31,544	its an interesting vid. However...... The big thing in the uk is with banks were exacatives are being paid millions and other firms who have not seen profits have had a 50% increase in directors pay. My mate works for a big bank in the uk. they (the workers) see the execatives as a joke and pay nonsence. He was telling me one of the main directors has phoned in ill as the goverment wanted to interview him. Basicly the goverment bailed the bank out so efectivly own the bank. shares in the bank droped as it was clear he was avoiding the questions. this is the problem. its not about pay, its about the market force. in a real market force people would be paid by providing results and profits, yet this is not the case. they are getting pay increases even when profits have gone down. its more close to comunism than capalism when you pay people this way. a true market force would stop these problems. the problem is that boh uk and usa do not have a true market force, its geared to help certain people. __________________ The Affiliate Program Last edited by DVTimes; 11-07-2011 at 11:05 PM..

11-07-2011, 12:47 PM	#54
porno jew Too lazy to set a custom title Industry Role: Join Date: Nov 2006 Posts: 10,166	fuck that guy. the sheep made him rich and they line up to be fleeced.

11-07-2011, 01:12 PM	#56
mineistaken See signature :) Industry Role: Join Date: Apr 2007 Location: ICQ 363 097 773 Posts: 29,656	Why some people say he is arrogant in this video? I only see him trying to have normal discussion with some incapable ones

11-07-2011, 05:49 PM	#60
BFT3K Too lazy to set a custom title Industry Role: Join Date: Dec 2005 Location: Narnia Posts: 10,764	Peter Schiff and Harold Camping... like 2 peas in a pod! https://youtube.com/watch?v=EZ2u3RmspYg

11-08-2011, 03:40 AM	#71
Vendot Confirmed User Industry Role: Join Date: May 2002 Location: Malaysia Posts: 3,376	I like Peter Schiff a lot...... its smart Americans like this that give the country a good name (debate aside). The fact is the anti-capitalist movement has no real argument and doesnt propose any realistic alternative either. He started his business in a 1 bedroom apartment? Good on him....

11-08-2011, 06:20 AM	#73
SomeCreep :glugglug Join Date: Mar 2003 Location: Where the Wild Things Are Posts: 26,118	On wall street the Schiffster is a permabear. His solutions for problems in the economy are always way too dramatic and idealstic. He certainly is well educated though. __________________ Webair Hosting I use and recommend Webair for hosting.

11-08-2011, 01:09 PM	#79
Sunny Day Confirmed User Industry Role: Join Date: Dec 2010 Posts: 1,406	Zero tax A lot of the rich have their money invested in municipal bonds. Live in NY City, buy bonds issued by the City of NY, pay no city, state or federal tax. Doesn't matter how many millions in interest you earn. Buy a bond issued by any other NY Govt agency, you would have the city tax. Buy a bond issued by a govt agency outside of NY State, you'd only be exempt from federal tax

11-08-2011, 01:41 PM	#82
Sunny Day Confirmed User Industry Role: Join Date: Dec 2010 Posts: 1,406	Mr Buffet only pays 17% http://www.politicususa.com/en/koch-taxes Buffett was candid in revealing that his tax burden was barely 17.4% on his income and nothing in payroll taxes... Factored in with Koch?s approximately 17% tax liability means they still do not pay as much as an average middle-class taxpayer who pays nearly 25-38% in total taxes. It is hardly equitable, but paying their fair share is not what the Koch brothers are about. At least one Koch brother lives in NYC, doesn't sound like he's paying 50+%

11-08-2011, 01:52 PM	#83
inabon Good Old Fat Webmaster Industry Role: Join Date: Jul 2002 Location: Boquete, Panamá Posts: 970	can someone explain to me the difference of today´s USA and any third world country? i see the same shit in US TV as i see here in Panama lazy fucks complaining that only a few managed to make it big and demand they pay for the lazy fucks.... no difference. Government being ran by corporate fucks that make laws so that the corrupt politicians can fill their pockets 1 government people at a time. I guess size is the difference in Panama you get a small amount of "mafia corrupt fucks" in government ever five years i guess the USA has a big amount of mafia corrupt fucks sorry for the guys ding the occupy crap but they really should be occupying Washington and every senators parking lot. the rich not related to government have nothing to do with this it is just business and obviously we are all here to make money __________________ Whoever dies with most toys wins. Last edited by inabon; 11-08-2011 at 01:54 PM..

11-08-2011, 02:21 PM	#85
12clicks Too lazy to set a custom title Industry Role: Join Date: Jan 2001 Location: God's right hand Posts: 19,787	oh, and as far as equitable goes, buffett, koch and the rest of your betters pay multiple millions of dollars every year for the governmental services you get for free. __________________ I'm not a dinosaur, I'm a crocodile. I've seen dinosaurs come and go and I'm left unimpressed.

11-08-2011, 02:24 PM	#86
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 73,681	99% of the people wish they were the 1% __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION