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"Why the rich don't give to charity"

Discussion in 'Sports and News' started by Dick Whitman, Mar 22, 2013.

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  1. Dick Whitman

    Dick Whitman Well-Known Member

    Well, since the argument against higher taxes is, typically, that they want to be able to make their own decisions about charitable giving, and that they will do a more effective job themselves in getting money to those in need than the inefficient government will, then ... well, yes, that is the argument.
     
  2. Dick Whitman

    Dick Whitman Well-Known Member

    Almost every time I'd go into these neighborhoods for something, I'd get asked for a job.

    "Man, I could take pictures!"

    "Man, how do I become a sports writer?"

    They honestly had no idea. The path of education ----> occuption was completely foreign.
     
    Last edited by a moderator: Dec 15, 2014
  3. To be fair, those wannabe photographers who show up at high school games prove it isn't that hard.
     
  4. The Big Ragu

    The Big Ragu Moderator Staff Member

    ExxonMobile earned $35 billion in the U.S. in 2009 and it paid Federal income tax of $15 billion to the U.S. I don't "count," by allowing some organization with a political agenda to use mathematical alchemy that creates a fantasy they need to demonize a company they don't like.

    If you don't believe their income and the Federal income taxes they paid, look at the company's 10-K from 2009. It's not ambiguous. Either they lied to the SEC or it is the truth. They either earned $35 billion in the U.S. or they didn't. And they either wrote a check to the Federal government for $15 billion or they didn't.

    I'll point you specifically to page 54 of the 10-K, which summarizes its U.S. Federal income taxes paid for the year (and for 2007 and 2008). That doesn't take into account sales taxes and all other taxes and duties, which are broken out separately. That is also how I got the effective tax rate the company paid for 2012 -- which was higher than the effective tax rate for other any company.

    Some Progressive whatever think tank can do whatever alchemy it wants to create made-up numbers. Most people will read the headline and ignore the reality. That doesn't change what the company's ACTUAL U.S. earnings were in 2009 and it can't change the amount of the check it wrote to the IRS. Their BS includes drawing in income earned offshore, which is NOT subject to U.S. taxes (and the reason companies -- not just oil companies -- try to keep their U.S. operations as lean as possible in the first place is because the U.S. has the highest corporate tax rates in the world) and selectively mixing taxable events from other years in to create a made-up number that worked for them.

    Saying it "depends on how you count," is the same as giving carte blanche legitimacy to someone who insist that 1 + 1 is 3. It just depends on how you count.
     
  5. BenPoquette

    BenPoquette Active Member

    Sidwell Friends
     
  6. LongTimeListener

    LongTimeListener Well-Known Member

    Naming every private school in the nation would probably take a bit more space than the thread merits, but yes, Sidwell Friends is a private school. Also, for that matter, the White House is gated.
     
  7. BitterYoungMatador2

    BitterYoungMatador2 Well-Known Member

    Lets also not pretend that people are gonna' suddenly stop funding their favorite special interest if their deductions go away.
     
  8. Azrael

    Azrael Well-Known Member

    Or a person could read the whole article I linked and decide for themselves what it says.
     
  9. Baron Scicluna

    Baron Scicluna Well-Known Member

    Yeah. Instead of tax incentives, their motivation was not to have a grieving lynch mob appear outside their mansions.
     
  10. Azrael

    Azrael Well-Known Member

    A thousand points of Ari Fleischer!

    ✔ @AriFleischer

    I increased donations to charity in 2012. This deal limits my deductions so I, & many others, will likely donate less in 2013.
     
  11. Government shouldn't be subsidizing business, right, Ari?
     
  12. LongTimeListener

    LongTimeListener Well-Known Member

    I don't think any of us are asking for the money, Creosote.

    Would be nice if they gave as much as I did though.
     
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