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kraft-t
Senior Advisor

Re: If you hate paying taxes, then read this.....

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Then can I assume there are no american born chefs in the kitchen. You want to wallow in the BS when there not even any logic in it. BTW a hispanic chef may well be american born.

 

What is amazing to me is you swallow that nonsense and argue that it is gospel.  Americans simply won't do the job, then it must be logical to say that no americans are doing the job. Yet many of you will argue that is correct when all one would have to do is ask if there are any american born cooks in the kitchen. If not perhaps we ought to inform immigration.

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kraft-t
Senior Advisor

Re: If you hate paying taxes, then read this.....

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Even you have the ability to put your assert in a trust to benefit your children. There is nothing wrong with that. That is written in the tax code and most of Buffets wealth is in capital assets that are not sold and not subject to capital gains taxes. If he did sell it much would be taxed but he has no need to sell.

 

BTW the strategy to buy businesses disolving  them and laying people off is the past policy of Mitt Romney. You know the one that has all the great plans for putting america back to work.

 

You post reminded my of a finew elderly gent named Sanford A who gave  a modest contribution to the senior citizens club in our small town. ONe of the local residents made the comment that his donation did himself more good that it did the seniors. Meaning of course the tax advantage of the gift.

 

What that judgmental jerk failed to notice was that he could have gave that sum to any worthy charity and still qualified for the deduction. He couldn't comprehend that Sandford chose the seniors as the target of his generosity, a group the complainer was amember of. Talking about looking a gift horse in the mouth, but sometime no matter what you do you still have detractors that will batch about it.

 

So I guess the Oracle of Omaha is a very generous donor but you choose to point out that the donor is really a shark in sheeps clothing.

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Kay/NC
Honored Advisor

Re: If you hate paying taxes, then read this.....

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Again, you are confused...the quote was not about CHEFS or COOKS...it was about PREP STAFF and DISHWASHERS. I won't try to explain any further. The hierarchy in a restaurant kitchen is obviously too complex for you to grasp.

Ditto for the difference between CITIZENSHIP and ETHNICITY. Not the same thing at all, but you don't get that distinction, either.

Have a nice day....

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Nebrfarmr
Veteran Advisor

Re: If you hate paying taxes, then read this.....

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Well, the difference between myself, and Buffet is that I am not going around saying I don't pay enough taxes, and then hire teams of attourneys to avoid taxes, and put everything into trusts, to avoid taxes, and then make a statement about paying less taxes than my secretary.  All I said was that struck me as hypocritical. 

It was other people who jumped down my throat and putting words in my mouth like accusing me of hating Mr. Buffet, or being jealous of him, or being more hypocritical than him, or 'riding the gravy train' by purchasing a $500,000 combine (which is about $485,000 higher than I actually paid for mine).  Guess what, no one has come down with anything that looks like an actual FACT, and proven anything I have said is wrong.  I looked all the way through this whole thread, and not one bit of proof of what I said was wrong, just grousing against my opinion.  I go to great lengths to back up what I say with fact, and gladly will be straightend out if I get something wrong.  If you want, I can even start a whole new thread, stating I was wrong, so-and-so was right, I said X and the facts have been proven to me that what really happened was Y.  None of that has happened. 

 

Now that my rant is over, back to Buffet.  Is it not ironic that he set up his 'estate' in the one year when there was no 'estate' taxes.  He left BILLIONS to charity, a great and awesome, generous, philanthropic, wonderful thing that I could never do.  Did I mention he gave money to charity, and it was a good thing, as I want to be sure everyone knows I said that.  It just so happens to be in a trust, set up in such a way as to be tax-free, or nearly so.

HOWEVER>>>>>

At the same time, also from his 'estate', he left other BILLIONS to his heirs, set up with trusts in exactly the same way.

Guess what, I think it is BRILLIANT!

What IRS agent is going to say what he did doesn't qualify?  No one is going to say that his charitable donation is against tax laws.  Since the part of his 'estate' that is going to his heirs is set up exactly the same way----guess what, it will be treated the same!  GENIUS.    Don't ask me how he did it, but he got those Billions separated out somehow, and declared part of his 'estate' on the year where there was ZERO estate tax.  Don't worry, though, he still left himself several billion to work with, and what he makes from here, I'm sure he will figure out a way to pay more taxes on it than his secretary.  After all, he has said that taxes are too low, and someone who says that would NEVER try to minimize the taxes he pays.

 

 

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smokeyjay
Advisor

Re: If you hate paying taxes, then read this.....

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You are correct on some of your observations, however, it's not so cut and dried as it seems.  The federal government has various funding sources for programs, not to mention, many businesses rely on tax exempt bond financing for major expansion projects.  Plus, for all you know the rural garbage collector also has local, state or federal grants/bond financing as well.

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kraft-t
Senior Advisor

Re: If you hate paying taxes, then read this.....

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Anthony Bourdain, who is a famous chef and foodie world traveler with several books published and a couple of TV series running, stated on Maher last night that in 20 years running restaurants, he had not had a single American- born kid approach him for a job washing dishes, busing tables, or even for a starting prep cook position. So, we farmers aren't the only ones with a labor pool
problem.

 

Your words not mine!  IN twenty years he had not had a single american-born kid approach him for a job washing dishes, busing tables, or even for a starting cook position. I wonder how Mcdonalds is able to hire anyone or pizza hut or anyone else for that matter.

 

But keep on in your all knowing wisdom but BS is BS whether it is yours or Bourdains.

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kraft-t
Senior Advisor

Re: If you hate paying taxes, then read this.....

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His family trusts had nothing to do with the zero estate tax rules. He could have set them up ten years ago, 5 years ago, last year or this year would have made positively no difference in the trust or the amount of tax paid or avoided. That sir is a non issue.

 

Buffet was not just speaking for himself but all people that enjoy the benefits of great wealth. They don't create jobs or build businesses. They invest in things for capital appreciation or buy bonds or other instruments. Taxing them less does nothing for the general welfare of anyone else other  than them or their families.

 

It must stick in your craw that this capitalist can actually think about the tax code and find it unfair. Hypocritical hardly? He is lobbying to get the code changed and not in his favor.

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Kay/NC
Honored Advisor

Re: If you hate paying taxes, then read this.....

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Right, PREP cook, busing tables, or dishwasher...like I said before. do you even read what you are cutting and pasting before you do it?

Do you honestly think this guy was talking about a Mickey D's or a Pizza Hut? That is NOT cooking....
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nwobcw
Advisor

Re: If you hate paying taxes, then read this.....

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   Krart-t  your problem is un known.   Yes you have a daughter in some gumint job.  The facts are that blacks are 12 %  of ther population and are 53% of prison people.   Illegal immigrants are right up there as well.  BTW all rooms of my house have loaded guns.

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nwobcw
Advisor

Re: If you hate paying taxes, then read this.....

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   Don't waste time explaing to krafty,  it isn't worth it.

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