MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

[FORD]

[FORD]

[jacksmar]

Really? Not one champion of industry could answer this asshole and his 70% bullshit?

If you tax anyone at 70% of their income you are on the edge of a real depression. If government, the markets, the bonds are counting on a baseline based on 70% of a baseline that changes constantly; you've just signaled an economic surrender.

First off, the dumb ass doesn't understand that the economy was incredibly smaller at the time they were taxing at that rate. So when the banks failed, you lost your house. This isn't some imaginary bullshit. Home was a luxury. The auditors from the IRS could be called on you at any time and you would lose your car and other possessions. This idiot doesn't realize the back before the stock market crash in the 20s the Fed actually raised the interest rate from 5 to 6%. Where's the interest rate now you ignorant socialist assholes?

I'm all for it personally. In fact, take it to 85% because I don't believe you will miss $.15.

I'm set. I'm done after this year. That's why I've been rooming with two women, traded my 2 trucks away and boat. I'm moving to the Gold Coast. It's where they keep mouth breather's and thug trash out with a 22 foot gate and armed security personnel. You might know it as Vero Beach.

I'll stay on this bullshit topic for a long time to come. I'm absolutely going to be laughing at the people who rely on other people's money. These ignorant fucks found their way from shitting in the street during OWS to your wallet. It's not only funny as hell it's what you deserve. An idiot like this professor doesn't know how to stay at 30%. Which moves into a new tax bracket with a graduated income tax system. It's because this idiot doesn't understand dividend income and the rest of you socialists don't get it either. You don't understand what happens with that money or the government receipts based on that money. And a socialist never will which means you don't deserve that money.

Don't worry about that money you don't know about. All you need to know is: JACKSMAR is laughing at you...

[jacksmar]

What the fuck? Who is giving out these professor degrees to these ignorant son of a bitches?? Can anyone here at this site tell me what stock size is a product of?

You want to influence the behavior of vested investors pull another Bill Clinton bond trick. Those of you don't recall the first black president saying in his first economic meeting "that the United States is actually beholding to a bunch of bond yields?"

I'm not really surprised at all looking backwards to the ignorant socialists now. It was only a matter of time before you needed your neighbor's money. Tell your neighbor you need his money and that you can spend his money better than he does. He'll fork it over...

[Seshmeister]

I haven't watched the videos but what has to happen is to try and get the super rich to the same rate as their cleaners. Or big corporations to pay any tax at all. If that ever happened then we can take it from there...

[jacksmar]

I haven't watched the videos but what has to happen is to try and get the super rich to the same rate as their cleaners. Or big corporations to pay any tax at all. If that ever happened then we can take it from there...

No that's the opposite of what actually has to happen. See that's when you've been brainwashed to think that your supposed to be a peasant, serf, or peon for the rest of your life. Stop worrying about everybody else's money and go out and make your own damn money!!!

Radical idea isn't it???

You think I spent one damn day above ground worried about whether Enron or WorldComm or Blockbuster or Circuit City made more money than I did? Ever?

It's like these Republican assholes that are so fucking pretentious they honestly think Facebook or twitter or any other social media needs bend over for them.

Start your own damn social media company quit whining and shut the fuck up.

Shesh, it's got nothing to do with taxes. Is the prevalence of this attitude whereas everybody is the same. You're not the same as me, and I'm glad as hell I'm not the same as you. We have a lot in common I'm sure. Eating, drinking, sleeping, medical provisions, blah blah blah.

I just got off the phone with the Pacific Rim. Still trying to finalize a business venture that I started well over 3 1/2 years ago. Did you just get off the phone with the Pacific Rim? I doubt it. You think Michael Jordan or Larry Bird ever worried about how many layups I've shot? You think Rick Mears ever worried about how fast jacksmar's qualifying speed at Indy was to his in 1991?

Get your own damn train going and don't let anybody ever stop you until you reach your destination. When you get there raise your flag. Maybe somebody might salute the damn thing.

[Seshmeister]

It's difficult not to be prejudiced by your own experiences.

I think you have said you were a business owner?

I'm probably a little younger than you and have run a little business since around the time this site started, in fact the reason I ended up here in the first place was because I was doing the fucking crazy hours that you usually have to do when creating a business unless you are a Trump and inherit it all. I would ALT TAB onto the Roth Army during 20 hour days on an AOL modem connection to break up the time. Anyhoo...

I dunno about US tax but I do know as someone who has created a little business and have had an accountant and so on I pay a bit lower tax rate than most of my salaried friends when it's all worked out. I can justify that to myself because of the horrific insecurity and risks of what I'm doing. I even believe that raising income tax above 50% is counter productive. What you need to do instead is make people pay it. What really pisses me off is that my competitors are General Electric and Phillips.

I don't think it's fair that when I go in to compete on a tender v General Electric as if that wasn't fucking difficult enough verses 44 000 employees, they don't need to factor in the corporation tax because they haven't paid any in years. More importantly it's doubly bad news for the tax payer who has to pay more to these companies and then gets no tax back.

The real disconnect and insanity of all of this is that by some amazing coincidence that you believe the Koch brothers and Trump share your interests. That seems a stretch but way more so for some poor redneck I suppose.

[FORD]

You think I spent one damn day above ground worried about whether Enron or WorldComm or Blockbuster or Circuit City made more money than I did? Ever?

Funny how you pick a random assortment of failed businesses as a counter argument to tax dodging. Probably the only true connection there is that Enron's Ken Lay is possibly the ultimate tax dodger - since he also is likely to have faked his death and also dodged a prison sentence to escape to some foreign hideaway tax shelter. Main problem with Enron wasn't that they were under taxed, but rather that they were allowed to exist in the first fucking place.

There should be no such thing as a privately owned utility. Or any other part of infrastructure, for that matter. And the sad sickening story of Enron is exactly WHY that should never be the case.

Blockbuster was a victim of poor planning. Their biggest competition used to be a little company called Netflix, whose business model (at the time) was to mail rental DVDs to your house. Times & technology changed, Netflix saw it coming and adapted to the changing reality. Blockbuster could have done the same thing, but instead took a gamble that people would continue to rent hard copies of movies, and drive to a store to do so. Not a winning strategy, unfortunately for them. The fact that they also adopted a policy of renting censored versions of movies probably didn't help them either.

Circuit City & Worldcomm were ultimately casualties of the last 40 years of Republican economic polices (including the corporate tax cuts) which allowed other corporations to grow unchecked, swallow up their competition in mergers & acquisitions and outsource thousands of jobs (thank you BCE & Bain Capital). At least the taxes NOT paid by the likes of WalMart, Amazon, and Verizon actually played a role here.

[jacksmar]

I don't know Coke Koch from Trump Gates. What I do know all of those guys don't give damn about anything I do. I shuttered a business. I saw every note of Obama's opus before it was played and I wasn't buying tickets. I was right. Same as I was right Clinton and Bush 43.

I absolutely understand why your view is offered and debated with regard to GE. My question to you is: What can you provide better and more stable than GE to the US military? In other words, what can you provide for free that GE does not? Money gets attached to receipts throughout the US government that will never be used for any intended purpose. GE and Phillips can lose money and still be taxed. You want a piece of that contract? There's two sides and that's ALL I'm saying.

Exactly 25 years ago the Indy Racing League was born out of frustration of one track owners desire to have some influence on the sport of North American open wheel racing. Championship Auto Racing Teams or CART didn't care for this business model and decided to go it alone without the Indy 500. This isn't some hack event, it isn't some mythical arena of competition. The Indy 500 is the world's largest single day attended sporting event. The purpose of the IRL was to contain costs by basically running in the same track configurations and to have the same engine and chassis configurations without changing for a few years. Time moves on, CART was right and CART no longer exists. Most interestingly enough, the IRL business model was scrapped and CART's business model is what is being used.

Want to know the answer why all this crap I am talking about with racing is still relevant? No one cares about a race where the object is to tie.

Nobody gets taxed the same. The people at the level you're talking about are not making the majority of their income from wages.
Now let's put that into perspective.

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration.

Sheesh, you know how that was sold? They said the very same thing at the time: this will only affect with the rich pay.It won't affect us Podunk's. How's that working out for you Mr. and Mrs. socialist Podunk?

But here's what that dumb ass professor really doesn't know. In the 80s, the tax rate was cut from 70 to 50% and then again to 28%. Individual income tax receipts increased at a rate unseen during that time. The United States government was pulling in more money than it ever had before.
Fact.

[Sarge]

Why would anyone want to pay more taxes? The government does a terrible job with our tax dollars. I hear all this top about more taxes for rich people, but I never hear about reducing fraud, waste, and abuse.

[Nitro Express]

Why would anyone want to pay more taxes? The government does a terrible job with our tax dollars. I hear all this top about more taxes for rich people, but I never hear about reducing fraud, waste, and abuse.

The reality is nobody cares. Most Americans live paycheck to paycheck regardless of what their income level is. Even people who should have a nest egg put away because they make more spend it. That's the mindset of the country and where interest rates have been so low the savers get punished. We live in a buy now pay later society and that society is reflected in the government waste. I don't think any president will fix it because it's a bigger problem than any president has the power to fix. We are getting close to states going completely broke and guess what they will be begging the lawmakers in Washington to allow them to declare bankruptcy. No nothing is going to get fixed and we will have the fun of watching it all unravel in colorful ways. Nobody is paying all that debt. It's impossible but if people think this government shutdown was bad you have seen nothing yet. How about finding out there is no money to pay you and your pension is no good. Fun times ahead.

[Nitro Express]

Look you have Howard Schultz announcing he's going to run for president because our national debt is our biggest problem and nobody including President Trump have done nothing about fixing it. Sounds good. Actually in this weird day and age we live in there is a possibility Schultz could win. The Democrats have become too radical and that turns off people and Trump is not the most likable person and Schultz is more like the old school Democrats we used to have and his talk of fiscal responsibility may appeal to some of the more conservation voters. Who knows what he really will do. He could end up just being a spoiler for the Democrats and he will get all sorts of flack from that side hoping to discourage him from running. Of course Trump is going to slag him and say he's a wimp and not good enough to run for president. Of course this is Trump using reverse psychology to motivate Schultz into running.

[jacksmar]

Why would anyone want to pay more taxes? The government does a terrible job with our tax dollars. I hear all this top about more taxes for rich people, but I never hear about reducing fraud, waste, and abuse.

The one I don't hear about is government provided electronic devices. iPhones android, surface, iPad, laptops, and pagers lost or stolen over the last 20 years. Didn't it occur to anyone to install some type of tracking device on these taxpayer provided devices?

[jacksmar]

I woke up more pissed off than I was when I went to sleep last night.

Every socialist should whet their finger, stick it up their ass, and score their imaginary one for the estate tax. The federal government comes up with about $300 billion dollars over 10 years with this tax. But it's a prime example of the wealthy paying their fair share. It's supposed to go to deficit reduction in one form or another. It doesn't.

And the federal government doesn't hold to its guidelines for deficit reduction regardless of who's in the oval office.
FACT.

[Kristy]

But it's a prime example of the wealthy paying their fair share. It's supposed to go to deficit reduction in one form or another. It doesn't.

Fucking capitalist retard.