(07-29-2013 04:52 PM)Owl 69/70/75 Wrote: [ -> ] (07-29-2013 04:33 PM)Fitbud Wrote: [ -> ]I thought high taxes was going discourage rich people from doing anything.
Apparently not.
Nope, that's never been the claim.
What high taxes will do is cause "rich" people to move investments to other jurisdictions where taxes are lower. In this case that doesn't appply because you kind of have to play the British Open in Britain But things that are movable will move.
So you mean like moving money off shore?
Agreed.
(07-29-2013 04:53 PM)Fitbud Wrote: [ -> ] (07-29-2013 04:52 PM)Owl 69/70/75 Wrote: [ -> ] (07-29-2013 04:33 PM)Fitbud Wrote: [ -> ]I thought high taxes was going discourage rich people from doing anything.
Apparently not.
Nope, that's never been the claim.
What high taxes will do is cause "rich" people to move investments to other jurisdictions where taxes are lower. In this case that doesn't appply because you kind of have to play the British Open in Britain But things that are movable will move.
So you mean like moving money off shore?
Agreed.
That would be one of the things.
(07-29-2013 04:45 PM)Redwingtom Wrote: [ -> ] (07-29-2013 04:39 PM)uofmcamaro Wrote: [ -> ]And for those that think that this is great that he is taxed at such a high rate....what has the government's that confiscate that money done with it that is worth while?
Clearly nothing. 
I doubt we can really tell a difference between if they hadn't taxed the hell out of him as opposed to him being able to keep what he earned.
Look, I'm not against taxes but 61% of your income is criminal. No other way to look at it. Regardless if afterward you are rich or not...that is over half of what you earned. That is just ridiculous. Flat tax needs to happen.
Here's what kills me; Mickelson probably doesn't use many government resources but he has to pay through the nose to support them. Meanwhile, back in Detroit, the people who use a lot of government resources don't pay into the system. Wealth redistribution at its finest.
(07-29-2013 07:17 PM)smn1256 Wrote: [ -> ]Here's what kills me; Mickelson probably doesn't use many government resources but he has to pay through the nose to support them. Meanwhile, back in Detroit, the people who use a lot of government resources don't pay into the system. Wealth redistribution at its finest.
Except military and police protection, the interstates that transport him to his tournaments so he can make millions, the electrical, water and sewer systems that furnish the fancy hotels he stays at, the FAA that protects him when he flies in his private planes all over the country and on and on...but other than that...yeah...he uses nothing.
You people are so damned clueless sometimes. Geez.
Lastly, I'm on record already as saying the latest CA state tax hike from 10% to 13% is too much, so without that he'd be under 60%. And once again, I doubt very highly that his effective tax rate is anywhere close to 60%. And you do realize that's a cumulative number of his total tax burden.
(07-30-2013 09:08 AM)Redwingtom Wrote: [ -> ]Except military and police protection, the interstates that transport him to his tournaments so he can make millions, the electrical, water and sewer systems that furnish the fancy hotels he stays at, the FAA that protects him when he flies in his private planes all over the country and on and on...but other than that...yeah...he uses nothing.
Except he pays gas taxes for the interstates, or tolls. He pays for the water and sewer through utility bills. The electrical system is private, but obviously, you know that. He pays fees to use those airports.
So, should we add those fees/taxes to this to show how his burden increases further?