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View Full Version : 1% speaks out, nails protestors



mikesilvia
10-28-2011, 12:35 PM
<iframe width="560" height="315" src="http://www.youtube.com/embed/Y28yFxLydzU" frameborder="0" allowfullscreen></iframe>
(http://www.youtube.com/watch?feature=player_embedded&v=Y28yFxLydzU)

sanfran22
10-28-2011, 12:49 PM
As well he should. I was reading an article the other day. The top 1&#37; starts at around 360,000 I believe. Kinda ridiculous to be bashing them.....

pghin08
10-28-2011, 01:03 PM
I don't always agree with Peter Schiff, but there's no doubting he's a smart guy, and he deserves to have the ability to stand with the protestors and defend himself.

duwal
10-28-2011, 07:57 PM
As well he should. I was reading an article the other day. The top 1% starts at around 360,000 I believe. Kinda ridiculous to be bashing them.....


yeah, I mean does it really make any sense to try and berate someone that is making salary of the mid six figures on up? I'm not going to apologize or feel sorry for myself because I worked harder and was more determined to reach to the top, that I wasn't one to settle on a regular job and complain about not getting the perks. Sit out on the sidewalk and sleep in a tent as long as you want but I'm going to be inside billing my clients and earning that money that they're hoping to get by standing outside

Hilfiger1975
10-28-2011, 08:14 PM
I got a kick out of that it was pretty cool...

ensbergcollector
10-28-2011, 11:53 PM
how anyone can argue that someone paying nearly 50&#37; of their income in taxes isn't pulling their share is insane

Hilfiger1975
10-28-2011, 11:56 PM
how anyone can argue that someone paying nearly 50% of their income in taxes isn't pulling their share is insane
Tax Write offs? I'm not really sure...

mikesilvia
10-29-2011, 01:06 PM
There is a valid argument under all the crying.

People like Bill Gates pay them selves $100,000 a year (taxed as income) and then millions in stock. Last I looked the tax rate for short term capital gains was around 20% and 12% for long-term capital gains. If you hold stock more than 1 year you get a long-term rate. So, people like Gates pay them selves in stock and then pay a much lower rate of 12-20% vice the 35% or higher rate if it was considered real income.

The reason behind this is for people to buy stock and invest capital into companies. In turn companies us that capital to hire people and invest in things to grow the company and in turn the economy. It makes sense, but many in Wall Street take advantage of this and pay themselves in stock.

The other argument is related to the bail outs. Those on Wall Street that took bail out funds shouldn't be paying themselves millions in bonuses when they got bailed out with billions of tax dollars. It's criminal to me.

So, underneath the screaming are some valid points. But to make the 1% to be an evil group of people is absurd. It's simply "he has more than me and I want it for doing absolutely nothing."