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Senior Contributor

Ideal situation

That is low production coupled with low prices.Those of you that are adverse to paying taxes this should be the best of times for you. I would prefer a bumper crop and high prices accompanied by a healthy check to the IRS. Alas it looks like you guys will win this time and I will be sorely disappointed. sob sob!

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6 Replies
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Senior Advisor

Re: Ideal situation

Really Kraft, we are gonna be winners with these low prices? Don't spin previous conversations out of context.
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Honored Advisor

Re: Ideal situation

We need an "all politics" section for Kraft.   We could call it " The O'Krafty Factor"

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Senior Advisor

Re: Ideal situation

Well, of course, ;your finanical scenario is wrong.  Many of us have made pretty good money the last few years, and some pushed last year's income into this year, so what we will have is a pretty good income in 2014 and a low income in 2015 to pay the tax bill with.

Thsoe averse to paying taxes when they have no money will have plenty of reason to wish they'd managed taxes differently, but it seemed like a good idea at the time.

Bumper crop and high prices - pretty nice picture.  Do we see big crops and big prices quite often?  I'll have to keep my eye out for one of those.

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Veteran Advisor

Re: Ideal situation

Shifty, aren't you the guy still holding 2013 and 2014 soybeans and not paying your taxes on either crop?

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Senior Contributor

Re: Ideal situation

Nope cashed in for $13 a mere $2 less than i could have had a few months sooner.  A full dollar a bushel more than the elevator posted bid. A premium from a processor that needed the beans badly.

I would rather have paid taxes on $17 beans but I missed the boat waiting for my ship to come in. HOwever, I am prepared to admit that at times I am wrong which if physically impossible for Red Steele to admit that.

 

BTW most of you guys wanted to pay less taxes and the market is making that possible. That is making you happy right? Maybe that will make you understand why I prefer to pay more taxes rather than less.

 

I was holding 2012 beans and 2013 beans. My 2014 beans have yet to be harvested. You musta thought i farm in Brazil!

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Veteran Advisor

Re: Ideal situation

Actually, its pretty great right now....Crop Insurance is going to be a winner this fall, with revenue elections....Buying some odds and ends equipment for 30-40 cents on the dollar....If I had sold $5 and paid taxes on that, I would be in worse net position than getting the deals right now.

 

And land should get really affordable soon...just as soon as  those guys with the big forward contracts get rid of their money!

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