[ExI] Michael Cohen​

[William Flynn Wallace]

Buffet conveniently legally evades taxes at a higher level with the way his
insurance business is structured.  He has found a way to avoid taxes there
for years, and is a hypocrite.

Buffett  gives away many bucks to charities and that he and Bill Gates and
some others have set up.  Maybe he figures that he has a better idea of
what to do with his money than the feds do.  I don't know what he is
supporting but I very likely agree with him.  bill w

On Thu, Feb 28, 2019 at 11:58 AM <spike at rainier66.com> wrote:

>
>
> -----Original Message-----
> From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of
> Henry Rivera
> Subject: Re: [ExI] Michael Cohen​
>
>
>
> >...Spike, please. This seems hardly plausible. You sound paranoid. And
> comparing it to slavery? That comes off as pretty insensitive to the
> brutality that slavey was...
>
> On the contrary Henry.
>
> If this government or any government makes arrangements for a 70%
> progressive tax bracket that is enveloping more and more people, most
> capital investments no longer make sense.  Capital goes elsewhere.  Fewer
> people have jobs.  Government revenue goes down as collective need goes
> up.  You have never seen brutality until you have seen the result of such a
> thing.
>
>
> >...I’m reminded that Warren Buffett, who is estimated to be worth more
> than $47 billion, called on Congress to commit to "shared sacrifice" and
> raise taxes on people earning more than $1 million...
>
> Sure of course, because Warren Buffett is among those few who will not
> share that sacrifice.  Bigtime investors don't really have much taxable
> income.  They build wealth in a way that isn't taxable through income tax.
> They occupy themselves by increasing the value of their holdings.  The US
> government can only tax income.  They have no way of knowing what you
> already own, and have no business knowing that.  Your net worth isn't on a
> tax return, and doesn't need to be: that isn't taxable.  Warren Buffett
> isn't suggesting any tax that will cost hm much of anything.
>
> Beware the advice of highly successful people, for they do not want your
> company.
>
>
> >...So there is even support for this among the filthy rich who realize
> they can maintain extravagant lifestyles even with larger tax rates on
> them...
>
> Notice you always hear this kind of thing from people who have already
> made their fortunes.  They are all for higher taxes on those who are coming
> up behind them.
>
> But consider for a moment, what if... what if the system were changed to
> some kind of wealth tax.  How would the government calculate your tax
> bill?  They can do it when you sell a property which has appreciated by
> treating that as income, but what about your holdings you don't reveal such
> as physical gold and bitcoin for instance?  If you hold that stuff, you
> better not tell people you have it.  Reasoning: if you have physical gold,
> criminals will break into your house and kill you if you don't hand it
> over.  If you hold bitcoin or cash, criminals will steal your children and
> kill them if you don't hand it over.
>
> Result: if the US federal government even starts seriously talking about a
> wealth tax, or any tax on that which you already own, the value of property
> goes way down and the value of gold, cash and bitcoin goes thru the roof.
>
> With that in mind, how difficult would it be to get at least a third of
> the senators to just say no?  It would be the easiest election in history:
> vote for me, and I will prevent compelling criminals to steal and murder
> your children.
>
> spike
>
>
>
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