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Why Give Cars to Multi-Millionaires?

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Postby SHOCKandAWE » Wed Jul 13, 2005 7:45 pm

Matthias wrote:
jjigglers wrote:
WharfRat wrote:For the same reasons they give hefty tax breaks to millionaires. They've got the rest of us by the balls.


I thought your income tax % goes up as your income goes up? :-?


depends on your accountant.


Amen!
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Postby SHOCKandAWE » Wed Jul 13, 2005 7:49 pm

I would love to see someone lock this thread before I have a aneurysm.

I am not even going to go there with this thread!
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Postby great gretzky » Wed Jul 13, 2005 8:11 pm

beltrans_boy wrote:So I'm the only one who thinks that that money should go to the victims of the London bombings?

:-?


care to rephrase that?

I don't believe that anyone here thinks money shouldn't go there.

what money is a different story.
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Postby beltrans_boy » Wed Jul 13, 2005 8:25 pm

great gretzky wrote:
beltrans_boy wrote:So I'm the only one who thinks that that money should go to the victims of the London bombings?

:-?


care to rephrase that?

I don't believe that anyone here thinks money shouldn't go there.

what money is a different story.

The money that otherwise went to give Miguel Tejada a brand new Corvette. The company is obviously taking a loss of about $60,000, so why not just give it to the Red Cross?
[size=10]"Men are apt to mistake the strength of their feeling for the strength of their argument." [/size]
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Postby SHOCKandAWE » Wed Jul 13, 2005 8:29 pm

beltrans_boy wrote:
great gretzky wrote:
beltrans_boy wrote:So I'm the only one who thinks that that money should go to the victims of the London bombings?

:-?


care to rephrase that?

I don't believe that anyone here thinks money shouldn't go there.

what money is a different story.

The money that otherwise went to give Miguel Tejada a brand new Corvette. The company is obviously taking a loss of about $60,000, so why not just give it to the Red Cross?


No wonder GM is in so much trouble. They keep giving their cars away
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Postby d18Mike » Wed Jul 13, 2005 10:01 pm

I' ve been involved in marketing endeavors where a car has been given away. Typically you offer the guy the car or about half of the value in cash. Or in some cases you can sign it over directly to chairity as a tax write-off.

So it is about advertising here -- not giving a car to someone who really does not want or need it. Having the AS MVP stand next to your product on national TV for that period of time is worth 10X what GM has in that car.
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Postby DCNats » Thu Jul 14, 2005 11:22 pm

There's a lot going on in this thread and much of it has little to do with a car.

Those saying that the rich do not pay more in taxes as a percentage of their income are absolutely correct. Through deductions (especially mortgage) and loopholes, most of the extremely wealthy pay a smaller effective tax rate than the average minimum wage earner. This is not politics (something I'm not very interested in discussing), just economic fact.

Anyway, I agree that there should have been done to show our solidarity with England than a brief moment of silence. Whether that onus falls on GM at all is another matter, but there's not doubt that we would have expected more than we gave our closest allies.
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Postby blankman » Fri Jul 15, 2005 12:29 am

DCNats wrote:There's a lot going on in this thread and much of it has little to do with a car.

Those saying that the rich do not pay more in taxes as a percentage of their income are absolutely correct. Through deductions (especially mortgage) and loopholes, most of the extremely wealthy pay a smaller effective tax rate than the average minimum wage earner. This is not politics (something I'm not very interested in discussing), just economic fact.

Anyway, I agree that there should have been done to show our solidarity with England than a brief moment of silence. Whether that onus falls on GM at all is another matter, but there's not doubt that we would have expected more than we gave our closest allies.


They played the British national anthem as well.

Leave it to the government and private citizens/company for monetary help. I think MLB did what they should have done about the situation, knowing their place and paying respects nicely.
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Postby josebach » Fri Jul 15, 2005 9:00 am

I agree that the rich should be philanthropic, but living in America not only gives them the right to earn/inherit/win their money but it also gives them the right to keep it and spend it any legal way they want. Think about it. How many of you smoke or drink? Why shouldn't you give that money to the London bombing victims?

Why... Because it's your right to smoke and drink just like it's Chevrolet's right to try to market their stupid Corvette in the All-Star Game where the audience demographic fits their target market.

Take away any of these rights and this wouldn't be America.

As far as taxes. Here's an interesting article on how taxes work. It's extremely simplified and generalized, but the basic jist of it is pretty accurate.

http://www.snopes.com/business/taxes/howtaxes.asp
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Postby josebach » Fri Jul 15, 2005 9:09 am

DCNats wrote:Those saying that the rich do not pay more in taxes as a percentage of their income are absolutely correct. Through deductions (especially mortgage) and loopholes, most of the extremely wealthy pay a smaller effective tax rate than the average minimum wage earner. This is not politics (something I'm not very interested in discussing), just economic fact.


Fact, huh? :-b

ok
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