The Bottomless Pit of Money. (Page 2) GeraldTheGnome: This was meant to be about the way the rich are affected by the governments, banks, companies, businesses, other rich people, the middle class and the poor, never about if anyone (or myself) is rich or poor or of the middle class on this site or what job they (or myself) do. Making it about myself or anyone on this site in that way is a form of 'forum crapping' as it has been coined. This was also meant to be about the way the middle class are affected by other middle class people, the rich and all of the above and it was meant to be about the the way the poor are affected by the poor and by all of what I have previously mentioned. But it is mainly about the affect on the middle class. Now a lot of the rich anywhere in the world do rely on as many middle class people to stay as middle class people, when something weakens the middle class it weakens the rich in a way, even if it is only in a way of less of a profit. The less people can buy of what they have, the weaker their position is, sometimes even the rich become poor due to cost blowouts caused by governments or other factors, not always tax related. Yes in a way the rich, the governments, businesses, banks, the middle class think they have a bottomless pit of money and/or that others (of any of the groups that I have mentioned (including the middle class) have a bottomless pit of money. A part of the reason of some of the poor being poor is because a number of them are too busy buying drugs or booze or smokes with it or too involved in gambling thinking that that will get them out of poverty instantly, all of those things cost them too much but they still spend what money they do have like there is no tomorrow. As far as taxes go, even for the little kid that buys even the cheapest bit of junk food no matter what his or her age is, they are taxpayers if a GST or VAT or something like that does exist in the country, those kind of taxes don't discriminate if you are a high, medium or low wage earner. Taxes are okay, sure no one wants them but I see their purpose unless barter is used for everything, which is unlikely, but there are taxes that all places can do without because they are unfair taxes or because of the high rate of taxation or both. GST/VAT, Land Tax, Excise Tax, Carbon Tax, Mining Tax, Stamp Duty, Death Duty, Inheritance Tax and some others I left out like Flood Taxes are examples. This is partly where I wanted to go with this. This is about financial exploitation. A number of the middle class and the rich around the world thought that there was always going to be money there for whatever they needed no matter what. The GFC, various crashes and the Great Depression showed the results of how that thinking can turn on anyone, even on a number of rich people. The Great Depression did have a number of rich people go poor, oh and the rich do complain about taxes and other expenses as much as anyone else, but in a different way, Gina Rineheart did on Youtube no matter what anyone thinks of her, elsewhere though a lot of the rich answer the problems of higher taxes and expenses by going offshore. That though unfortunately is something that they exploit in various ways with semi slavery methods, low to no workplace healthy and safety conditions as well as other factors, it is exploitation. Sometimes it is due solely or partly to greed. (Edited by GeraldTheGnome)  Mimee_red: You have something there. A series of studies by World Bank validates the belief that societies with the greatest income disparities or too much gap between the rich and the poor will always be pulled down to a more sluggish growth even if they seem to leap ahead for some time. Most developing countries and especially the BRIC - Brazil, Russia, India and China still have to grapple with these inequalities. Likewise, the richer strata is always burdened with more taxes as a leveler so that the government can pump these funds into welfare programmes, but countries with poor governance lag behind in making this ineffective - weak implementation, lack of planning, corruption, poor skills among workers, etc.. reasons could be many.  Illuminatist: Regarding taxes: I hope all of the Americans on "wire" realize the "income tax" is illegal, and there are NO LAWS stating IT MUST BE PAID.   davidk14: . Wesly Snipes used that defense. In 2010, Snipes began serving a three-year prison sentence in McKean County, Pennsylvania for misdemeanor failure to file U.S. federal income tax returns.[ . Illuminatist: davidk14: . Wesly "Snipes used that defense. In 2010, Snipes began serving a three-year prison sentence in McKean County, Pennsylvania for misdemeanor failure to file U.S. federal income tax returns.[" Yeah, go figure: A government corrupt enough to invent an unconstitutional tax, throws people in jail for not paying it..... Go figure......  lori100: U.S. Treasury To Run Out Of Money By Feb. 15, Study Says - Forbes www.forbes.com U.S. nearing default on some financial obligations as emergency measures to keep U.S. solvent seen running dry as early as Feb. 15, study says.. lori100: press release--------The Federal Reserve Board on Monday issued two consent Cease and Desist Orders against JPMorgan Chase & Co., New York, New York (JPMC), a registered bank holding company. The first order requires JPMC to take corrective action to continue ongoing enhancements to its risk-management program and its finance and internal audit functions, particularly in regard to JPMC's Chief Investment Office (CIO). The Board's order follows the disclosure of significant losses in a large synthetic credit portfolio that was managed by the CIO. The second order requires JPMC to take corrective action to enhance its program for compliance with the Bank Secrecy Act and other anti-money laundering requirements at JPMC's various subsidiaries. The Office of the Comptroller of the Currency on Monday issued two similar Consent Orders against JPMorgan Chase Bank, N.A., Columbus, Ohio. (Edited by lori100) | Politics Chat Room 79 People Chatting Similar Conversations |
