Dodgers Owners- Made $108 million over 4 years. Taxes? $0.00

[EL PRESIDENTE]

http://www.latimes.com/business/la-fi-hiltzik24-2010feb24,0,5865964.column

The McCourts, who own the Los Angeles Dodgers (so she says; he says he's the owner and she's not), jointly pocketed income totaling $108 million from 2004 through 2009, according to documents Jamie McCourt recently filed in the couple's divorce case in Los Angeles County Superior Court.

On that sum, they paid zero federal and state income tax. Jamie suggests that some tax breaks will apply this year too.

This reminds me of the old line about how true scandal lies not in what's illegal, but what's legal. It's certainly an edifying window into the lengths some people will go to avoid paying taxes.

The court papers indicate that the McCourts deliberately structured their business at least partially to allow them to live tax-free.

www.fairtax.org

Its weird, bookkeeper at work said that we pay more taxes than our boss for some reason.

 

[Eastoff]

http://www.latimes.com/business/la-fi-hiltzik24-2010feb24,0,5865964.column




www.fairtax.org

Its weird, bookkeeper at work said that we pay more taxes than our boss for some reason.

we need the rich to be tax free so they can give us jobs

 

[EL PRESIDENTE]

Flat Tax!

 

[Eastoff]

Flat Tax!

make the rich pay less and the poor pay more! WOO!

 

[EL PRESIDENTE]

make the rich pay less and the poor pay more! WOO!

Everyone should pay the same percentage.

 

[barfo]

Its weird, bookkeeper at work said that we pay more taxes than our boss for some reason.

You share your tax returns with the bookkeeper at work?

barfo

 

[EL PRESIDENTE]

You share your tax returns with the bookkeeper at work?

barfo

I think she was speaking hypothetically.

 

[barfo]

I think she was speaking out of her shapely ass.

fixed.

barfo

 

[drexlersdad]

abolish the irs and then flat sales tax.

 

[EL PRESIDENTE]

I think there should be a small flat income tax as well.

 

[Blazer_Hippie]

I think there should be a small flat income tax as well.

Ugg...I wish people actually understood what a flat tax is. If the only thing we did was institute a flat tax, the owners in the original story would still pay $0 in tax.

The problem isn't the tax rate, it's the deductions and legal loopholes which a flat tax does nothing to fix...

 

[EL PRESIDENTE]

Ugg...I wish people actually understood what a flat tax is. If the only thing we did was institute a flat tax, the owners in the original story would still pay $0 in tax.

The problem isn't the tax rate, it's the deductions and legal loopholes which a flat tax does nothing to fix...

Well, I would support eliminating the loopholes and deductions across the board. Every single one of them.

 

[Blazer_Hippie]

Well, I would support eliminating the loopholes and deductions across the board. Every single one of them.

It's called our "activist tax code". That's how the government controls behavior. They want people to buy houses, they make loan interest deductible, they want companies to make capital investments, they change the rules for expensing the investments...

Problem is in most cases these encouragements don't work exactly as intended and they also lead to abuse. I'm always in favor of radically reducing these things...

I dislike the flat tax, though. You'd fix the problems of companies not paying anything by just wiping the tax code clean...

 

[SlyPokerDog]

Invade Canada!

 

[EL PRESIDENTE]

Do it!

 

[Minstrel]

Its weird, bookkeeper at work said that we pay more taxes than our boss for some reason.

I thought you were self-employed or something.

In any case, Warren Buffet has noted in the past that, using legal methods, he actually pays less taxes than his secretary who makes 70k/year or something.

 

[EL PRESIDENTE]

I thought you were self-employed or something.

In any case, Warren Buffet has noted in the past that, using legal methods, he actually pays less taxes than his secretary who makes 70k/year or something.

I have a day job and freelance.

 

[BLAZER PROPHET]

Ugg...I wish people actually understood what a flat tax is. If the only thing we did was institute a flat tax, the owners in the original story would still pay $0 in tax.

The problem isn't the tax rate, it's the deductions and legal loopholes which a flat tax does nothing to fix...

Wrong.

A flat tax has no loopholes and no deductions. Every cent that comes thru the door is taxed. Because no much money does come thru the door the tax is very small.

 

[Shapecity]

They're talking about implementing VAT system which prevents any loopholes by taxing the manufacturer's directly on every widget they produce.

 

[barfo]

I thought you were self-employed or something.

In any case, Warren Buffet has noted in the past that, using legal methods, he actually pays less taxes than his secretary who makes 70k/year or something.

I believe he said he pays a lower rate than his secretary, not less tax.

barfo

 

[hasoos]

Wow that's just real fair considering how many of the cities resources they use to run their business. That's the whole fucking problem with this country. Everybody wants all of the resources to be provided by the government, but nobody wants to pay for it.

 

[Minstrel]

I believe he said he pays a lower rate than his secretary, not less tax.

barfo

Ah okay. I suppose that actually sounds more realistic.

 

[44Thrilla]

consumption tax is the way to go.

 

[Blazer_Hippie]

Wrong.

A flat tax has no loopholes and no deductions. Every cent that comes thru the door is taxed. Because no much money does come thru the door the tax is very small.

Wrong..unless you have some particular version of a plan involving a flat tax you're referring to.

Generally "flat tax" is used to refer to the tax rate.

How taxable income is calculated is the problem, not the fact that there are different percentages used...at least as far as how complicated it is and why high earners sometimes pay so little in taxes.

 

[tlongII]

There is way too little information presented here to determine whether it's "fair" or not.

 

[Ed O]

make the rich pay less and the poor pay more! WOO!

How can the Dodgers owners pay less than zero?

Ed O.

 

[Eastoff]

How can the Dodgers owners pay less than zero?

Ed O.

i was being sarcastic about flat taxes. but I get your point.