cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Senior Advisor

Re: 'Buffet' tax

Just not true.

Highlighted
Senior Advisor

Re: How silly!

Mr. Kraft, your 6-7K could be worth 2-3K a year from now. Nothing is guaranteed.

 

 

Investors is where the capital comes from to create jobs. Tax away capital and tax away jobs. Very simple to understand.

Highlighted
Advisor

Re: How silly!

You remain astonishing, but get easier to understand.

 

Are you saying that speculation should be protected?  It was, I suppose, for all of those commercial banks that became investment banks after the repeal of Glass-Stegal and other de-regulatory moves so maybe farm land should get some sort of TARP via preferential tax treatment, huh? Or all commercial investments? Some sort of a reward from the rest of the taxpayers for being sharp enough to have got in at the bottom?

 

Now if Don's land went down to $200 an acre I suppose he'd be able to declare a loss, but I'm doubting that he'd need it.

Highlighted
Senior Advisor

Re: How silly!

How did you get should speculation be protected from my post?

Highlighted
Veteran Advisor

Re: 'Buffet' tax

So, I ask you this.  If Berkshire Hathaway tells the IRS to fly a kite, and they have court hearings, who is the #1 person that they are going to go after?

 

Highlighted
Honored Advisor

Re: How silly!

.Smiley Very Happy   Yes, but Don if you were the poor Schmiel that bought that $900/a farm 5yrs earlier you would`ve paid nearly $3000/a.  See, it`s timing timing timing.  If corn goes back to C.O.P. prices of $4.50 land, over time will also drop 40%.  Your $7,000 land may go to the low 4`s.   For the sake of those that are paying $7,000 to $14,000, I hope they are cash buyers.  The thing with land, it`s in tight hands, high demand and very little for sale.  If only 10 farms sell in a county over a year it can support artifical sky high prices.  However, what happens if interest rates go up and investers can get better returns in the money market, farmer`s can`t swing the 20% interest rates and all of a sudden you go from 10 farms selling up to 100 farms for sale?   That is a very realistic scenario that one should consider before getting too giddy. 

Highlighted
Honored Advisor

Re: By right`s way `gains` tax should be Zero

It is Berkshire, but Buff and Berk are the same.  What happens to Berk stock the day Buff assumes room temperature?

Highlighted
Advisor

Re: 'Buffet' tax

The CEO? The Chief Accounting Officer? The firm that does their taxes for them?Primary legal counsel?

 

Probably not the primary stock holder.

 

Not defending him or anything or anybody else, but Warren won't get the first phone call or subpeona.

 

It's a business structure system that's been in place and endorsed by lack of resistance or complaint for generations.

Highlighted
Advisor

Re: How silly!

I've seen it cycle a number of times in my lifetime...BUT...when you say:

 

 "If only 10 farms sell in a county over a year it can support artifical sky high prices"

 

.

 

Those prices are real. They are recorded as REAL estate, With the transaction price attatched. Transaction were made or contracts signed.

 

They are real...not artifical. The next round of sales  may go down, even drasticly, but those are real when struck.

 

Another guy along with 3020 asking for some special dispensation for the noble cause of ag land ownership? If your concerns are "real", if you really think the risks involved  should demand it....then don't be carping on here over TARP and stimulous programs. Or even corporate tax breaks.

 

Maybe because a land owner employs one full time hired man and two part timers in the Spring and Fall you should have qualified for tax increment financing or your farm made a tax free zone because of the employment you create in te community.

 

Sheeze.

 

Like with alot of stuff that's vulnerable to hypocrisy......either you is or you ain't.

Highlighted
Veteran Advisor

Re: By right`s way `gains` tax should be Zero

Don't think ithey are.  He only owns 30% of Bershire.