Wealthy Are Dumping Assets Fast Before Year's End... Including Their Business Or Maybe Your Job

Originally posted by Jeremiah65
Free trade agreements have basically killed the tariff. It worked well for years but...oh well, that is another story.

Really? Wow. In studying US History years and years ago, this was the way we kept foreign items in our market from being less competitive. It seems so simple.

Suppose I have to learn about this free trade thing, huh? Thanks for the info.

Originally posted by LiveEquation
reply to post by davcwebb

 

It only shows how greedy the wealthy are, all they care about is their wealth. Their employees are just a means to that wealth

Are you an idiot (sorry but I need to ask)

You build a business to make money. You never build a business to employ people. You employ people as a means to expand the business. Jobs are not a right, they are a benefit of an expanding business.

Your comments are truly the most naive I've seen on ATS so far outright.. without exception..

Proof in point. Do you own a house? Do you mow your own lawns to save money or do you employ someone to do them for you just to create a job for someone? And if you don't own a house (probably not based on your lack of understanding) do you own a car? If so do you wash it yourself, or do you pay someone to do it...just so someone else can earn some money?

I already know the answer dude but pleeease come back and defend yourself. I need a laugh.!

reply to post by TheOtter


Sure, you can increase tariffs on imported goods.

Then the goods cost more, people will not buy as much and you don't end up with a net gain in income for the government.

Or the business owner just gives up and retires.

Originally posted by micmerci
...And they all said 'just tax the wealthy more, that'll fix the problem'. They wont sell off assets. They won't slow the economy. They won't hand out massive layoffs and take their businesses elsewhere. This will work trust me.

Yeah right

Would places like Commie Walmart move to China perhaps?
Considering how big they are and how many they employ, it would cause some harm.
Only thing stopping them is their number one customer are US Citizens

reply to post by Wildbob77


My thought was, yeah, consumers won't buy as much, but maybe it would bring manufacturing jobs back to America or allow small businesses with American products to offer them for a price that beats the big guys who went overseas (e.g. WalMart as the first to come to mind. I don't know how this would directly affect the deficit, but it could be affected indirectly. More people working would bring in greater income taxes. More people working would reduce the number on welfare.

I just want to say that I'm not schooled in economics, but this makes sense to me as a layman. Er, laywoman.

Edit: I am reading up on these theories, just so y'all know I'm not expecting ATS to teach me economics 101. One curious fact I found on Wkipedia is the following:

Tariffs, often called customs, were by far the largest source of United States federal revenue from the 1790s to the eve of World War I, when they were surpassed by income taxes.

Was this because tariffs were drastically reduced or because more people started working? Or was there a monumental tax increase that just happened to surpass tariff revenue?
Wiki entry

reply to post by Cherry0


The Wall Street Banksters and Financial Terrorists are criminal and ruthless enough to make Al Queda Terrorists blush.

Originally posted by LiveEquation
reply to post by davcwebb

 

It only shows how greedy the wealthy are, all they care about is their wealth. Their employees are just a means to that wealth

Funny how you got all those stars for this comment, but through my own personal experience in this past year losing a business in Obama's America and all, I truly found out how much money matters to everyone!!! Certain life experiences will let you know who your true friends and family are, and it's all about money. All those stars as if money doesn't matter to any of them. I bet 95% of them would trade places with those wealthy if they could. Hypocrites.

Originally posted by jtma508
Yup. This is what is happening alright. EVERY business in the U.S. is going to sell (not sure to whom) or close and the entire economy is going to stop.

Look around the world. This isn't a U.S. problem. It's massive, pervasive and Global. You've got to be mainlining something really strong if you think the 'Romney Plan' (whatever THAT was) would have changed anything. The bottom line is this: if there is a consumer demand for something, someone will be willing to meet that demand and business will expand or contract accordingly. Paid employee benefits are tax deductible. They reduce your tax liability (against your profits) not increase it. If demand for your business is too low for you to stay open you fail. If you close a thriving business to avoid paying taxes you're an idiot.

I'm sorry but your business theory is crackpot lol, but I employ something similar in my personal spending. When I see crap I want at a good price, I buy it, and tell my wife I'm saving us money lol. But every month when my credit card bill comes she's not buying it.

reply to post by TheOtter


Your inclination was correct. The tariff once balanced the playing field. It prevented our market from being flooded by cheap products coming from places that operated at slave wages or child labor. It did nothing to rectify the situation in said country, it just made it more difficult for them to profit here in the USA.

Once the tariffs disappeared, many American Companies began to set up operations in these places. Manufacturing was cheap, environmental standards were non existent and there was no penalty (tariffs) to import those products back into the USA. Win-win for them.

I am not going to pretend to know when it all actually started, but I remember when I was first keenly aware of it. A prediction by Ross Perot that NAFTA would create a giant sucking sound as all our manufacturing jobs left the country....and he was right, (NAFTA= North American Free Trade Agreement).

That might not be the first piece of legislation that started the problem, but it was one of the first that I am aware of and there has been many since...And calling it a problem I guess is in the eyes of the beholder. For the average blue collar worker, it was "doom on" as textiles and many different kinds of manufacturing fled the country for cheap labor and no EPA to deal with. If I were an import merchant and could buy millions of dollars worth of cheap, poorly made products and import to the USA...I suppose I'd be loving it.

reply to post by davcwebb

Obamacare is a big topic of discussion with the business owners I know. I think it's more of the unease and mystery that surrounds the bill that they don't actually know how much they will be hit with in fines. For instance one guy I know has 25 employees and will have to pay $2000 per employee, or $50,000 in fines to the IRS. OR .. buy health insurance for everyone, at the cost of $180,000. He either loses half his income or get buried in debt. Either way he plans on laying off half his employees. It might get a little less fuzzy when the tax bills are due and business owners know what they are paying, but as it stands they could be losing a TON of money. And to all the extra-idiotic Liberals owning a business does not make you rich. Most small business owners make under $50k in total profits yet employee more employees than all corporations combined.

reply to post by pacifier2012


This post shows the attitude that business has taken on in the last 40years. This is a carry over from our slavery days that reintroduced itself. The plantation owners thought this very same way.

reply to post by Rockpuck


People have not idea what they are wishing for, the rich "will pay more taxes as the can afford it" but can the Obamacare be affordable for the working class to be the targets of this endeavor? it will come with a bundle of taxes for all because the mandate will become a tax as per Supreme court ruling and have nothing to do with the rich



Most big companies will move oversea leaving many unemployed, the Obama cuts will leave many unemployed next January in government positions, Obamacare will hit with new taxes on the working class and as usual the income earners will be the losers.

reply to post by MOMof3


Obama does have many obfuscated in this nation right now with his political capital, see anybody that is an income earner in this nation and is not rich are all slaves of the masters in the white house, they own all of us, so slavery is still very much alive in this nation and is not just for one side alone

Originally posted by SeekerofTruth101
reply to post by kozmo

 

Goodbye. C yer. Ciao. C' la vie.

And take your insults with you. Just remember to pay your exit tax.

You may had build up your ...er...whatever you call it, but without the social expenditure spent on you by all americans past and present in building up this country, you would probably be picking at dumpsites for food as in Somalia.

May you not choke on the 'fruits of your supposed labour' that others had paved for you. Without others support, you are nothing.

Cheers.

SeekerofTruth? Hmmmmm... more like "Spreader of ignorance".

I'm not going anywhere, but you Communists are! Obama is just what this country needs for 4 more years to wake people and rid the planet of this blatant ignorance! The time is nigh. You and your ilk are closer to being on the endangered species list than you realize. You will see in time.

Originally posted by GrimReaper86
reply to post by micmerci

 

What would you expect from such greedy people? They don't want to take a cut to their take home profits so they just fire someone instead...."Sorry did you need that job to get by? I just want to be able to buy another Lexus next year." It's greed, pure and simple, you can blame this on the president for imposing taxes on the rich if you want but personally I think it makes more sense to blame the rich greedy asshole firing you.

edit on 14-11-2012 by GrimReaper86 because: spelling

You must be referring to George Soros and Warren Buffet, right? Two of the richest liberals on the planet. How do you think they got that way? Hint: It wasn't from being all "liberally"!!!

Those who live in glass houses should not cast stones.

i think they're dumping the dollar as well before the years out. selling off assets right now and buying metals with the dollars would be a smart move. stocks and the dollar are going to fall like a strippers panties at Mardi Gras, before years end.

reply to post by marg6043


I agree with your point. But that is what happens when private industry fails to see its workers as part of their means to get to their goal. It is not the workers fault that health, food, housing has outpaced their income. When private industry fails to provide the means for its workers to live, as history has shown, the government will step in. More so in this country than any other. We have killers in this country with access to automatic weapons, just waiting for a reason.

reply to post by darkhorserider


Sure the poor can get poorer, the fact you are on here posting shows you ar elikely more wealthy then the majority of people living on this planet. I'll make a wild wager that none of your ribs are showing either, and that you are at the very least pleasently plump......you also do not live in the sort of fear a community does that doesn't know where it will get food, or how it will find water, or have energy for warmth.....

people who make your sort of comments clearly are the most naive, sheltered people....in desperate need of being introduced to REAL poverty.....because let me tell you something in hyperinflation there is no "food stamps" worth a can of beans....."and likely no rule of law......it's the jungle....and its how much of the world lives and you are ill prepared. people who had the money to prepare and organize will be the only ones in good shape. There is no "even" playing field in nature.....there is only strong and weak.

Originally posted by ForkandSpoon
reply to post by darkhorserider

 

Sure the poor can get poorer, the fact you are on here posting shows you ar elikely more wealthy then the majority of people living on this planet. I'll make a wild wager that none of your ribs are showing either, and that you are at the very least pleasently plump......you also do not live in the sort of fear a community does that doesn't know where it will get food, or how it will find water, or have energy for warmth.....

people who make your sort of comments clearly are the most naive, sheltered people....in desperate need of being introduced to REAL poverty.....because let me tell you something in hyperinflation there is no "food stamps" worth a can of beans....."and likely no rule of law......it's the jungle....and its how much of the world lives and you are ill prepared. people who had the money to prepare and organize will be the only ones in good shape. There is no "even" playing field in nature.....there is only strong and weak.

You're talking about 2 different things. Currently, even the homeless people in the US are "pleasantly plump" and usually obese! Under our current conditions, the poor people have cell phones, and plenty of food on the table, and subsidized rent, etc., etc. BUT, they have no money, and no stock market crash is going to change that. They figure out creative ways to get cash from time to time, but then they spend it immediately. So, they can't have any less money than they currently have.

NOW, if a major crash causes a collapse of government and social benefits, and we go into survival mode, then it is the law of the jungle. This part I can agree with, but once again, the poor people have been hustling and scrounging, and making do with nothing for a long time already. They are still the most likely to adapt and survive after a major crash. Hyper inflation is the most damaging to those with the most money. Poor people are much better at making something out of nothing.

A major economic crash and subsequent turmoil evens the playing field where everyone has equal opportunity to emerge from the crash successfully or not. Our current system has the chips stacked in favor of those who already have money. Hell, if I had just $10k in the bank right now, I could probably make millions in real estate while the market is down!

reply to post by detachedindividual

So who is buying the business, an alien race?

An Alien Race or the businesses sell to themselves on a reincorporated name at a loss.
Its called "HOPELESS CHANGE"