posted
Purl Gurl, jason's $58k annual household income and what he does with it, is his buisness...Besides I would much rather he shared it with us than giving it to the casino's... The above is my knee jerk reaction...I am one of those bad old republicans...However I am afraid you have hit upon something.... Purl, in a more serious tone..Many of us who play stocks, are in the the $60k-$125k annual household income category. Hopefully people in this category have they're children raised, and have something put aside for they're grand children before they get the great idea to become suddenly rich in the markets!!!!
Getting rich in a short period of time was a common occurance during the stock bubble of 2000...THIS IS NOT THE TIME TO THINK THAT WAY PERIOD..
If I lose everything in the markets, I am perfectly happy to live in a tent along a remote river, paning for gold and fishing to my hearts content..So if some of you have not conciderd financial ruin maybe you had better start!!!
...Also people who use these damnable credit card checks to play the markets,,cover your azz,,one slip up and your going to wish you never saw one of them..
posted
speaking of credit cards.... you do realise that these sharp drops are forcing margin calls right? and the fast "whips" back up have been forcing the shorts (margin again) to cover....
i don't think America is served well with the GOP vs Dem anymore...they aren't that different, and they are all getting their campaign money from the same places...
i see we have made bankruptcy a little harder too...that oughta help out the credit card co's...
i can't seem to find whether they decided to cancel the "millionaire's homestead exemptions" that some states have, but it looks like they did...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
Still, it will probably be rather easy for someone like Trump to declare bankruptcy and then have the Governor of PA invite him into the PA gambling arena.
Hey, Dusty, I have always wanted to try to pan for gold. Do you really do it? PM me.
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posted
glassman," the millionaire's homestead exemptions " as you know, was designed to keep family farms and ranches within a family when the estate rolled over...Most people I know in that situation, never did trust the government to come thru on that....So they took matters into they're own hands....There are many legal and creative ways to out fox the IRS pertaining to farms and ranches..
As long as the kids don't throw the old folks in the ditch!!
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posted
avoid by not trading on margin it's tempting though.
quote:Originally posted by glassman: speaking of credit cards.... you do realise that these sharp drops are forcing margin calls right? and the fast "whips" back up have been forcing the shorts (margin again) to cover....
i don't think America is served well with the GOP vs Dem anymore...they aren't that different, and they are all getting their campaign money from the same places...
i see we have made bankruptcy a little harder too...that oughta help out the credit card co's...
i can't seem to find whether they decided to cancel the "millionaire's homestead exemptions" that some states have, but it looks like they did...
posted
speaking of margin calls - you wouldn't get them if you were trading stricly with the cash you have. are there other types of calls one could get like a minimum equity call?
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posted
....There are many legal and creative ways to out fox the IRS pertaining to farms and ranches..
yes...life insurance policies can be set up..incorporation..etc...as far as estate taxes go..
BUT i was refering to the bankruptcy laws that allow/ed filers to keep their million$ homes under bankruptcy protection.....i was looking to see if they plugged that loophole too...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
Wallace, Hey whats going on dude...I can't hold the PM page long enough to PM ya right now....
Yes I do pan gold occasionally..Once on the Rouge river I had my pole resting on a stick,, while I was panning some gravel..Damn salmon decided to hit my spin glow [ after hours of nothing ] and my pole was heading for the river.
Took off after my pole and spilled the gravel,,I was left with , no pole, no fish and no clean gravel..That damn fish...............
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posted
Glassman,,I don't know notin bout million dollar house's..If you saw mine you would believe me.
They can't hide they're money in Oregon pertaining to a bankrupt situation..I think they can retain they're home if the judge and lender agree..So I guess if your going to get in trouble around here you better have a mortgage...Strange is'nt it..
posted
Funny thing is i dont think the general public is aware this new Banktruptcy bill got passed lol.. people are too concerned with taxes, social security , education, health issues etc.. that this one flew past american's radars with the exception of a few like us.. another great example of politicians going to bed with Big Corporations in this case credit card companies and Banks.. what they dont get is that if people can't get bankruptcy protection then people will be more reluctant to borrow money from the banks or open up credit card accounts which means they will not spend money on goods and services which in turn slows the economy even more down... my guess is that Bush will sign this into law but somewhere down the road it will be found to be a huge mistake and either be revised or repealed... if it don't believe me they will feel it at election time though im sure the politicians whether Dem or Rep will say they were against it in the first place but we know that will be a crock of Bull to get votes.. oh by the way im a Liberal Democrat if u care to know lol but i think all politicians or politics in general are evil .. all institutions really.. corporations, government, religions etc.. but hey thats just me lol ...
-------------------- Let the world change you... And you can change the world.
posted
IMO, PurlGurl has a one track and hateful mind. He/she hates Bush so much that what ever he does is wrong How come your Demo pass some of his bills? lol
quote:Originally posted by gmh37: IMO, PurlGurl has a one track and hateful mind. He/she hates Bush so much that what ever he does is wrong How come your Demo pass some of his bills? lol
gmh37
LOL, right is right, Purl Gurl is right
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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this is what the pres passed into law that effected me.
$1,000-per-child tax credit, now effective through 2010. This credit has been a moving target since 2001. If Congress had not extended the $1,000 credit, this amount would have fallen back to $700 in 2005.
The expanded 10% tax bracket, now fully effective through 2010. The new law continues the $14,000 and $7,000 levels through 2010 and indexes them for inflation.
Marriage penalty relief in the 15% tax bracket, now effective through 2010. The new law completes the phased-in increase in the top end of the 15% bracket started by EGTRRA and JGTRRA.
Full marriage penalty relief in the standard deduction, now effective through 2010. This change accelerates these benefits for 2005 through 2008. The benefit continues through 2009 as a result of EGTRRA.
Extension of the higher alternative minimum tax (AMT) exemptions through 2005. Congress is given one more year to start addressing the problem that millions of taxpayers eventually will end up paying AMT. AMT taxpayers can enjoy one more year of higher exemption amounts. Other special provisions, including tax relief aimed at lowincome families and military families, were added as well.
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Top 50% of Wage Earners Pay 96.03% of Income Taxes The share of total income taxes paid by the top 1% fell to 33.89% from 37.42% in 2000. This is mainly because their income share (not just wages) fell from 20.81% to 17.53%. However, their average tax rate actually rose slightly from 27.45% to 27.50%.
Top 5% pay 53.25% of all income taxes (Down from 2000 figure: 56.47%). The top 10% pay 64.89% (Down from 2000 figure: 67.33%). The top 25% pay 82.9% (Down from 2000 figure: 84.01%). The top 50% pay 96.03% (Down from 2000 figure: 96.09%). The bottom 50%? They pay 3.97% of all income taxes. The top 1% is paying more than ten times the federal income taxes than the bottom 50%! And who earns what? The top 1% earns 17.53 (2000: 20.81%) of all income. The top 5% earns 31.99 (2000: 35.30%). The top 10% earns 43.11% (2000: 46.01%); the top 25% earns 65.23% (2000: 67.15%), and the top 50% earns 86.19% (2000: 87.01%) of all the income.
The bottom 50% is paying a tiny bit of the taxes, so you can't give them much of a tax cut by definition. Yet these are the people to whom the Democrats claim to want to give tax cuts. Remember this the next time you hear the "tax cuts for the rich" business. Understand that the so-called rich are about the only ones paying taxes anymore.
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that's funny, EVERYBODY pays taxes.... ever hear of federal gasoline taxes? since 1932... sales taxes are "equal" accross the board... why don't we go to that system? the "rich" don't want to...
tax cuts ARE for the rich, not the poor, this is true..
the poor couldn't pay any more than they already do..they don't have anything with which to pay..
at the end of the year? if you aren't in the top 50% income? you don't have ANY money...LOL
[ April 17, 2005, 11:17: Message edited by: glassman ]
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
iplabs, I would think you would know better than to believe that dope head Rush Limbaugh, with his being a well known hype liar. Read his article carefully and you will quickly realize he is pumping out more lies than Bush.
He is a hint. Those old IRS figures, if those numbers actually did come from the IRS, show one-half of tax payers pay just short of one-hundred percent of taxes. That is a figure reflecting one-half of tax payers, not just the rich. Rush Limbaugh is very popular amongst the under-educated because they are so gullible and believe his twisting of facts into what they want to hear.
Those numbers have nothing to do with total tax paid but rather percentage of "reported" income and exclude other taxes, such as social security and wealth not taxed which is hidden via tax loopholes and fake incorporation by the rich.
You should trust intoxicated Rush Limbaugh about as far as you can flick a sticky booger.
gmh37, my goodness, such hatred you hold for me. Relax child, you may become so full of hatred you will lose control and piddle your pants.
For others, I claim no political party as my own. Consider this. Kerry lost the election to one of the most stupid persons alive. What does that say about Kerry?
Bush won the election on the homophobic vote. What does that say about Americans?
Rush Limbaugh is a drug addict and suffers impaired thinking along with being an entertainer not an intellectual. What does that say about right-wing conservative republicans?
Ralph Nader is a has-been leftist who could not win an election for Village Idiot Of The Year. What does that say about left-wing liberals?
Middle class salt-of-the-earth carry the tax burden for America, and Bush lied about giving tax cuts to those in need of tax relief, the middle class.
Bush did not lie about giving tax cuts to his wealthy and supportive friends.
Did you note the G7, in an ignorant bozo knee-jerk response to Friday's market event, carefully hinted Bush's economic policies are to blame?
They are so weak willed, such diaper boys, they are afraid to actually criticize Bush for ruining world economies.
The big G7! Such ignorant bozos who could not find their own butts with both hands. Many of us, which includes me, started warning about bad economic conditions back at the beginning of last year.
The G7 just realized this past Friday something is wrong?
Have you looked at the French G7 minister? He truly physically looks like a clown!
posted
Glassman, you forgot the federal excise tax on car tires, which is very substantial.
That is a tax paid by the majority of Americans, which are the poor and the middle class.
Do you, the reader, know how all that federal tax money collected from car tires is spent? It is a lot of money. So how is that money spent?
There is also both a state and a federal tax on gasoline, intended to be spent on roadways. Are our roads and highways in good condition?
Are our transportation needs being met?
California pays the most for gasoline. Why? Because we are taxed at a higher rate than all other states.
I suppose Rush Limbaugh would twist that around, Californians paying more in gasoline taxes, into some "fact" like all Californians drive gas guzzling Hummers and it is only "supply and demand" at work, not record high taxes.
Something else, while I am on a rant, California uses special blend gasolines for Winter versus Summer for cleaner air. That costs us more. It is good to help keep our air clean, or is it?
If you buy a new car, you don't have to take a smog test for six years. What does that encourage? Rich kids modifying new cars into nitrous oxide burning race cars which produce more pollution than all NASCAR race cars combined (actual fact) along with killing hundreds of innocent people while racing.
Here is a laugh, the republicans in California made an attempt to roll smog laws back to all year models, then back to 1958 years models, then settled for 1976 and newer year models.
They did this because republicans believe classic car collectors create more smog than all cars on the road. These are car collectors who keep their beautiful antiques parked in a garage and take them to car shows on a trailer.
Imagine a Ford Model-T retrofitted with smog equipment, and a brand new nitrous rice rocket which produces such toxic gases you will die if you stand behind it.
posted
Purl Gurl, here's my take on this political bickering this morning....It is representative of the polarization of two belief systems at work in our country......But please this nonsensical name calling should be saved for the next election cycle....However it can be very funny reading quips of this banter...
On to a more serious subject...Purl, what is your take on a flat tax?? Thankyou
PS Oregon is catching up with California tax wise .Our property taxes are nuts! As I am sure you know we have no sales tax.
"...representative of the polarization of two belief systems at work in our country...."
I have written I claim no political party. I am not polarized. I am outspoken. I do not mince my words.
Dustoff also writes,
"...this nonsensical name calling...."
George Bush is exceptionally ignorant. Rush Limbaugh is a mentally impaired drug addict. John Kerry is a poorly skilled politician. Ralph Nader is a decades long has-been. Half of America did vote homophobic.
posted
A front wheel drive Honda spining it's wheels in 5 th gear is a beautiful sight at dusk !!Love that oxide..And I ain't no rich kid..
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posted
Sticky boogers are like politicians. Sticky boogers just jump from one finger to another, but it is still the same hand, a hand you do not want to shake.
Back when she was still a diaper girl, I am trying to teach her how to blow her nose. She has a cold and a seriously boogered up nose. I hold a Kleenex to her nose and say, "Blow Traci, blow your nose," and mimic by blowing air through my nose.
She refuses, "Me do, me do."
By this time she has a rather large sticky booger hanging out her left nostril. "Blow Traci, blow!"
"Me do, me do"
I pick the sticky booger out of her nose and wipe it on the Kleenex. She is enraged, "Me do, me do!"
"Ok, find, do it yourself," and I toss the Kleenex at her. She unfolds the wadded Kleenex, picks out the sticky booger, shoves it back up her nose, then blows her nose, successfully. "Me do, me do!"
posted
hey, i just figgered out how to get to run the country... go to to Yale...
Negroponte and Goss (both class of 60? hmmmm...) and Bolton are all the just the most recent APPOINTMENTS from the Yale gang...
George H. W. Bush (B.A. 1948), President of the United States (1989-1993) George W. Bush (B.A. 1968), President of the United States (2001-present) Richard B. Cheney*, Vice President of the United States (2001-present) William Jefferson Clinton (J.D.), President of the United States (1993-2001) Gerald Ford (J.D.), President of the United States (1974-1977) George H. W. Bush (B.A. 1948), President of the United States (1989-1993) George W. Bush (B.A. 1968), President of the United States (2001-present) William Jefferson Clinton (J.D.), President of the United States (1993-2001) Gerald Ford (J.D.), President of the United States (1974-1977) Hillary Clinton (J.D.), U.S. Senator, New York (2001-present) William H. Donaldson, Chairman of the S.E.C. (2003-present), co-founder of Donaldson, Lufkin & Jenrette George Pataki, Governor of New York (1995-present) Joseph Lieberman, U.S. Senator, Connecticut (1989-present) John Kerry, U.S. Senator, Massachusetts (1985-present)
note you don't have to graduate--at least Cheney didn't....
oh yeah don't count this guy out yet...LOL
Howard Dean, Governor of Vermont (1991-2003)
and of course with Bush and Kerry in last time? they couldn't lose...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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"im not sure who suggested it but a flat sales tax would be UNBELIEVABLY unfair to lower income families...the only fair way to do it would be a flat income tax...."
A flat sales (income) tax and a flat income tax, are the same. Only difference is a sales tax is collected at the register which reduces tax evasion to zero, or nearly so in reality.
I would also support special taxes on alcoholic beverages, tobacco and Viagra.
Jason also writes,
"...first off someone who makes 1mil a year spends the same amount at the grocery store as the guy who makes 10k a year...."
That is untrue. A single mom struggling to survive will buy bread, eggs and hamburger. A millionaire will buy champagne, caviar and sirloin tips. That millionaire will most likely have someone do the shopping, as with housework.
Our struggling single mom is hoping to have enough money left, after buying bare basic foods, to pay her rent, and maybe have some money left for her bus fare to work.
Our millionaire, while a paid maid is cleaning house, while the grocery is delivering fine food, while the nanny preps the kids for private school, our millionaire is out shopping for a Mercedes.
We help the disadvantage through assistance programs. We don't care about the wealthy.
Point is, if taxes are to be fair, all must pay the exact same rate. Poor people spend less money and are taxed less. Rich people spend more money and are taxed more. Seems a logical and fair way to me.
Greater fairness is had when our government uses a large portion of tax revenue to better the poor through food, education and housing assistance; afford the poor a better chance to advance in life.
You know this "no child left behind" thing of George Bush? He brags about it but secretly cuts the funding for the program.
Know how Texas reported such great strides in student grades? Fraud. Bush, while governor, put in place a system which fraudulently reports bogus grade improvements. This is well known and was a special report on Sixty Minutes or similar.
Bush is known for leaving behind kids of poor families and kids of low income families.
"...so the person making more money would pay a FAR lower percent of his income in taxes frankly this system would be a disaster...."
That is the Bush system, yes?
You need to research this topic, carefully. Since 1990, poor and middle class income has fallen and taxes have increased, while rich class income has increased and taxes have decreased.
Here is an article discussing loss of middle class income since _only_ 2000 year, which happens to be the year Bush took office. Research on your part will show middle class income down a lot more since 1990, while rich enjoy more income and less taxes.
the only way a flat tax can work is if it is collected at the income level
a person who makes a million bucks a year will almost certainly never spend his millions or at the very least put LARGE chunks of it into retirement programs to make him even more money that hell never have to pay taxes on it would create a far larger imbalance than already exists
your assertion that people who make that much more money spend ALL of that money is simply foolish
flat sales tax would never ever work because the people in the 20k bracket would all of thier money and be taxxed for all of thier wages while the high income brackets would be taxxed for a FAR smaller portion of thier income thus would pay a far smaller % of thier wages in taxes
-------------------- "The Americans will always do the right thing... After they've exhausted all the alternatives." - Winston Churchill
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Of course. However, you failed an important test. There is no tax on food. Only time food is taxed is if it is heated or prepared. You did not catch this deliberate mindgame of mine.
I will counter by writing,
"You are not paying attention to your thinking."
I will qualify my own words by adding twenty-nine states do not tax food, four states afford lower taxes on food, five states afford rebates on food tax for the poor and seven states tax you for food.
Are you sure you want to debate me? I am known for laying intellectual traps.
posted
how about the nanny the millionaire would get for his kids and the private tutors guess what those are services and thus arent taxxed at least in my state services arent taxxed
hows that for failing your own test
you are quite wrong
-------------------- "The Americans will always do the right thing... After they've exhausted all the alternatives." - Winston Churchill
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