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bruce MN
Advisor

Re: Really Good Reporting there, Bruce

And it gaurantees that you stay in business, as part of the 70-99%ers.  Keeps you fat like that for a while.  That's what runs of high profitibility generally do.  

 

The commercial aircraft business grew like Jack's beanstalk after WW2 because there was so much had been earned during the war that was GOING BACK INTO THE ECONOMY.  Catapulting, actually. Rocketing. 

 

In the meantime, some temporary players get to eat caviar they earned simply by showing up.   A person should always be hyper aware of that.

johnaa
Advisor

Re: Fantasyland

 

  "Mitt is a smart man, though, maybe his capital gains came from selling shares of stock and thus he avoided the double tax issues. He may have invested in stock or was granted options in those companies he turned around and profited handsomely for his efforts when they became solvent again."

 

  That's rich!  The smartest thing he did was managing to be born with a silver spoon in his yap.   Started at the top surrounded by the best advisors money could buy, imagine he didn't hesitate to fire any that didn't make him money. 

  

  You will never see what he could do as potus, he's unelectable.  He will energize the Obummer base and turn off all those people who voted for 'change last time, 'anyone but McRomney'  --http://lewrockwell.com/crovelli/crovelli66.1.html

  SNIP-->Republicans sure have short memories. It was just four years ago that they went to the polls in the primaries and elected the most "moderate" and "electable" candidate they could find in the hope that they had a man who was palatable to the general population. Their reward for their unprincipled pragmatism was an ass-kicking in the general election that few Americans will ever forget. John McCain and Sarah Palin certainly won’t forget it.

 

  Four years later, having learned absolutely nothing from the election of 2008, Republican voters are once again lining up behind the most moderate and supposedly "electable" candidate that they can find in the pragmatic hope that they can beat Obama in the general election. They have become so unprincipled and pragmatic, in fact, that they are lining up behind the very man who brought European-style socialized medicine to our fair shores, simply because they have been told that he is more "electable" than anyone else in the field. How they can expect an outcome that’s better than four years ago is difficult to fathom, unless they think that their new moderate’s plastic hair can compensate for his obvious blandness.

 

SNIP-->

  Here’s a novel idea for Republicans: Vote based upon principle, not based upon whatever the bobble-headed morons in the media establishment say is strategically expedient. Your strategic pragmatism got you nowhere four years ago. Young people and independents in this country are not any more impressed with bland flip-floppers from Massachusetts than they are impressed with nut-job moderates from Arizona.

 

  These guys don’t even impress Republicans themselves. If they want a "moderate" who stands for war and socialized medicine, they might as well stick with the moderate, warmongering socialist they already have.

schnurrbart
Veteran Advisor

Re: Fantasyland

You have a lot of laughing to do because from where I see, you are all A S S.  Most money in this country is taxed at least twice.  If all you want to do is trade insults, go for it.  I am quite sure I am up to the task.

Nebrfarmr
Veteran Advisor

Re: Really Good Reporting there, Bruce


@bruce MN wrote:

Conversation not too long ago with an aquaintance from way back too long ago in college.  He's been involved in a small business that does construction landscaping.   Lots of upscale work in the TC metro.  Residential and commercial.  Been very successful but recently hitting a real deamnd slowdown.

He said that in his line, small businesses are becoming dinosuars.  Everything is being done in "sub" mode and only the soft palmed project managers make any money.  No available margins on high transparency priced and easily discounted materials (suppliers need cash flow ) and contracted short hours labor.  Says that there will be no small businesses in the all not too distant future, outside of the service sector.   ALL of the profit creating vehicles have been derailed.

 

I mentioned to him that the most prominent small businesses in some if not many areas may wind up being some of these spectacularly expanded farming operations, chartered in various ways, with many of them doing 10s of millions in gross business annually. 

 

His response to me was that would be tragic if it were indeed true  for "communities" because his tax accountant tells him that farmers have become political zombies who are interested in one and one thing only and that would be tax avoidance.  The accountant went on to tell him it had become a religion with them and that they were essentially  "all Republicans who would crawl in bed with anybody over a dime in taxes".

 

Upon which he in turn asked me how that could be becasue he'd grown up believing that nearly all farmers were Democrats.

 

I would say the majority of farmers I know, tend to vote Democratic, but will also crawl in bed with anybody over a dime in taxes, as well.  I can tell you stories of trusts that are set up for a couple generations down, so no taxes are paid, income that is put off into another year, to minimize taxes, etc, etc.  Paying the least taxes they can, is not a GOP thing, it is generally looked upon as minimizing an 'expense' the same as buying a tractor from a dealer with the lower bid, or shopping around for the best fertilizer buy.

 

All that aside, I can see how this current stage play of portraying a defunct, useless, wasteful and eternally meddlesome government and historically exhorbitant (check the record on that one) taxes of all sorts has become the rallying cry of the most prosperous couple of percent of 1 1/2 % of the population.  The real beauty is how they get the rest to march in their parades and carry the water.  It's not like there is a reliable promise in there somewhere.


 

I think I may be oversimplifying a bit, but it works along the lines of - let's give farmers a little break, and they will vote this way, and we'll give hammer handle manufacturers a special little cut, and the buggy wheel makers, etc, etc until they get enough people to follow them, not noticing that the biggest beneficiary is the one claiming to 'help' all the 'little people' in the various groups.

That is why I think, more importantly than the actual tax RATE, is a tax that is applied EQUALLY, with no special loopholes, for special groups.  All that does is cause divides, and class warfare, and bickering amongst the people over whether or not fiddle bow stringers 'deserve' a special tax break or not, instead of the big picture, of how the politicians, and their special interests, are in it only for themselves, and unless stopped, will flush the whole country down the toilet.

old man
Senior Contributor

Re: The Mittster

I don't think that there should be a special tax rate for Capital Gains. The rate should be the same as for earned income, but Capital Gains should be indexed for inflation so there would be no tax on PHANTOM GAINS

Example------- I bought my farm in 1963 for $700 an acre. Today, if I sold for $5000 an acre, I would have a capital gain and have to pay 15% of $4300 an acre.

 That $700 would buy about the same in 1963 as $5000 will do today

Maybe Mitt Romney has a lot of Phantom Gains

 

 

 

What I suggest would be much fairer

 

BA Deere
Honored Advisor

Re: The Mittster

I totally agree!  But if the government couldn`t tax US on THEIR mismanagement of OUR currency, where would they get their revenue? Smiley LOL  I really think that Mitt Romney should bring out his tax returns and use this as a "teachable moment" and show the public the TRUTH about this confiscatory, job killing tax system.  I have shown in other posts how inheritance tax is right out of the communist manifeso and how job creators are double taxed.  Liberals are essentially belly aching that the second time that money is taxed..it isn`t at a high enough rate...I give up willfully ignorant people can just wallow in their stupidity and vote Democrat.  Mitt Romney or any of the Republicans are our last chance to straighten things out, Mitt appears to have the best chance of winning and the most financial experience of anyone running, during my lifetime anyway. 

kraft-t
Senior Advisor

Re: The Mittster

If selling prices are indicative of my latest purchase. that parcel has appreciated $5000 in the last 5 years. And i am not comparing it to the $20K land in northwest iowa.

 

Land appreciation has greatly exceed inflation for people with quality iowa land. $900 land in 1986 is probably worth in the $7 to $8k in todays market.  $2200 land bought in the late 90's would sell for over $8k.

 

Keep in mind that working people with stagnant payroll checks are trying to buy goods and services in this inflated market. And nobody is suggesting they pay a 15% tax rate because of inflation.

 

BYw. they recently sold  a half section about 6 miles from me for 10,700  per acre. 82 csr.

kraft-t
Senior Advisor

Re: The Mittster

Question> Are you the old guy with million in your estate or are you the young pup that wants to start where daddy ended up?

 

iF IT'S NOT YOUR MONEY, YOU DON'T HAVE A DOG IN THIS HUNT.

 

For your information, there is no one that is required to buy into a corporation. They know full well what they are buying and are well aware of corporate tax rates going in before they even buy the stock.

 

If they do not want to pay corporate taxes, they should not buy stock. It's as simple as that.

 

Now if they are so fortunate as to make money on their investment they can pay taxes just like the rest of us. The so called job creators are not creating jobs as we were3 told if they only got favorable tax rates.

 

Democrats or republicans shouldn't buy your BS. Man up and pay your way and quityerbellyaching!