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1 EPR-radar  Sat, Jan 19, 2013 2:31:45pm

In my view, the economic issues have always been the core of the Republican party.

Racism, nuttiness, culture war crap etc. have in the past been issues used by the GOP mainly to distract from the basic wealth concentration program of the GOP.

It is possible that there is now enough insanity in the GOP that the nuts vs. the plutocrats GOP civil war may actually occur.

2 Barflytom  Mon, Jan 21, 2013 10:08:42pm

“Many banks in Switzerland won’t take American clients because of the pressure being exerted on the Switzerland government and the mini banking cartel that exists in Zurich..”

“Enacted in 2010, FATCA requires foreign financial institutions to tell the U.S. Internal Revenue Service about Americans’ offshore accounts worth more than $50,000.”

The reason foreign banks now refuse American clients unless they have a million or so to deposit is the ridiculously onerous reporting requirements imposed by this stupid, counter-productive legislation.

The practical effect is just to make life more difficult for Americans working overseas, and in the case of some very wealthy people, to encourage them to expatriate themselves.

Driving money out of the country doesn’t do average Americans any good.

A couple of other small examples of why this is increasingly a much less free country. Intrade no longer accepts USA based accounts because of heavy-handed regulation by the SEC, and many investment funds aren’t open to US citizens or residents because of the ridiculously expensive compliance costs.

If you want to discourage tax avoidance, why not bring the corporate and personal income tax rates down to the levels of so-called tax havens. There is something like 1.7 trillion in corporate funds currently held overseas by US companies. Imagine if that was returned and invested in the US or returned to US shareholders.

Look what happened when Britain for example had confiscatory tax rates under Labour in the 60’s / 70’s. Huge amounts of money left the country, and along with Obama-style over-regulation and coddling of trade unions, it brought the economy close to collapse.

It seems lefties never learn. The disgusting Obama administration is probably the most reactionary and economically illiterate one seen in a supposedly free country in decades.

3 Barflytom  Mon, Jan 21, 2013 10:55:37pm

Btw ggt, you got the acronym wrong; it’s FATCA, not FACTA.

FATCA (T), geddit ? Another demonstration of how childish and vindictive the dems have become.

There are so many examples of how damaging it is to investment and economic growth to keep demonizing the “rich”, it’s hard to avoid the conclusion that the dems just don’t care how much they damage the economy, as long as their vile class warfare rhetoric keeps getting them re-elected.

And if any of you lefty losers think a million bucks makes someone “rich” these days, then you’re even more out of touch than I realised. Try moving to London or Switzerland with just that amount of capital - you’d barely qualify as middle class.

4 Obdicut  Tue, Jan 22, 2013 10:16:49am

re: #3 Barflytom

Try moving to London or Switzerland with just that amount of capital - you’d barely qualify as middle class.

Speaking of just flat-out lies:

Switzerland has a per-capita average income of $83,073. If you got just 8% income on your million dollars, which would be a distinctly average return, you’d be right in the middle. If you aggressively pursued stock investment, you’d get about 20% returns.

Does it bug you to have to lie so much?

5 Barflytom  Wed, Jan 23, 2013 12:52:06am

re: #4 Obdicut

Perhaps you’d want a place to live - the median price of a house in Switzerland is about $ 900,000, and double that in a major city.
Swiss 10yr bonds currently yield about 0.7%, and were yielding about 0.5% most of last year.

So, a slightly different definition of what would be “middle class” is a flat out lie. Lies I tell ya’ !!!! My point is you wouldn’t be “rich”, or even living in the same postal code as anybody “rich”.

Does it bug you to have to split hairs so much ?

6 Barflytom  Wed, Jan 23, 2013 1:14:10am

re: #4 Obdicut

….and I look forward to your next comment pointing out the difference between median and average. You can also argue about stock market returns over 10 years, the precise definition of “postal code”, and then the definition of “middle class”, which as you know can mean different things depending on whether you are discussing average income, or social standing viewed from the perspective of the British aristocracy.

Then, if you have a few more hours to spare, we can argue about the definition of “lying”, including the difference between normal lying and “flat-out” lying.

Do you list “missing the point” among your hobbies ?

7 Obdicut  Fri, Jan 25, 2013 2:29:01am

re: #5 Barflytom

Perhaps you’d want a place to live - the median price of a house in Switzerland is about $ 900,000, and double that in a major city.

Yeah, which is why I’d probably rent, like most Swiss do, since renting is so much cheaper than house-buying.

[Link: www.globalpropertyguide.com…]

Swiss 10yr bonds currently yield about 0.7%, and were yielding about 0.5% most of last year.

That’s nice.

You are an incredibly bad debater. Comically bad. And I’ve finally figured out the bizarre way you write is supposed to be funny. You might want to explicitly declare that or something.

8 Obdicut  Fri, Jan 25, 2013 3:54:21am

Switzerland also has very high personal income tax; I’m confused how if, according to you, high taxes destroy competitiveness, the Swiss are able to tax so highly and yet have this incredibly high standard of living, according to you. They also have a capital as well as an income tax on corporations.


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