Election 2012 Is Comming

Cain has a new campaign manager...... Tiger Woods

keep in mind Ski, if you opt to purchase an American made Christmas gift for someone at a cost of 64.00, you will create 200,000 jobs here in the red white and blue

I hear they have a new Cain stamp, when you lick it, it giggles

I just made that one up, thats a keeper

eric lavine wrote: im tearing up here guys, the only thing I want to clear up is that i do often make remarks about our military actions and my disclaimer is always towards the government and not geared towards the individual who is put into harms way, they have a job to do and do it very well, i would never protest a soldier or a marine, if i was in the same circumstance I too would do the same...I get alot of information streamed from the guys who have been there.

Nothing to say Eric. Freedom aint free!! And get rid of the freeking liberals in goverment. Tired of big goverment in the free market fking up everything!! No goverment in the free market!!

azeus17 wrote: Please let me know if I am wrong as I am looking for a way to minimize my liabilities.

How about moving out of Michigan for starters, Maybe Florida or the one of the Dakotas?

Well, just about the time I posted that Barney Frank should be one of the first tossed into jail due to his role in the mortgage meltdown, he announced today that he won't be seeking re-election next year. Good riddance! Let's weed some more of them out.

David,
My statement about not recommending stocks was in jest as well, along with my quip insinuating that I would necessarily trust a licensed planner/ broker.
I believe we probably have much more in common than we have differences. I know you are passionate about your views, and that, I believe, is important. If I didn't want to hear others opinions I wouldn't visit this thread. I also agree that trying to survive on public assistance is miserable for everyone. I certainly don't have all of the answers. I believe that we must have tolerance for others in order to solve problems that we all share. I consider myself an independent, I have never voted a straight ticket. I am sick of this gridlock.
The fact that you value independence, education, family, and have a good work ethic speaks highly of you. Since you have a CC, that puts you over the top.
I would enjoy meeting you and seeing you boat sometime.

I will never give investment advice to anyone, not because I don't want to share, but because I don't know anything more than others looking for a good investment. I am not licensed as a financial planner or broker, and I view much of the limited success I have had as just plain luck.
I am very conservative financially. I drive a 7 year old Saturn Ion with 140,000 miles on the clock, live in a modest blue collar neighborhood, and buy the majority of my clothes at Farm & Fleet. My Saturday Mustang purchase was extravagant and I will be selling two antique boats to recoup the price. I have one of my antique motorcycles up on eBay right now. I want to sell most of the material crap I have accumulated over the years. I believe the best signature on the site is "The things you own will come to own you" I have realized that I get very little joy from any but a very few of my material possessions. They are just excess baggage. I am NOT one of the rich ones. I also believe that we all owe a debt of gratitude to the country that afforded us the opportunities we have. Some of the comments I have seen on this thread seem to indicate that the authors are not grateful for these opportunities and want to transform this country to something it is not and never has been. Unless there is compassion for others there is no real joy or satisfaction in ones life. My generation changed the country through the protests by the Freedom Riders, the civil rights movement, and the Vietnam war protests. The attitudes and opinions condemning the actions of those who want to change the world they will inherit remind me of those of my parents generation who condemned the Vietnam war protesters. I did not experience those attitudes at home from my parents however. My father, a WWII B24 bomber pilot met my mother, an Army Air Force nurse when he was recovering from injuries from an aircraft crash. They, having proudly served in the war, were also opposed to our involvement in Vietnam. I see the occupy movement as the next wave of change. Those who fail or refuse to recognize trends and public opinions are positioned to be left behind.
That is all.

it was an after thought and probably worded wrong, not a shelter, just plain old its not taxed and i have a feeling the ones who benefit the most from it are the ones that molded the tax law....I see it as income, but on the other side of the coin what if you take a hit on the stock? is that shown as a loss on your 1040?

OverMyHead wrote: 999

I suppose it beats 666

John, I forgot, send some excess money to CCfan!!!!

eric lavine wrote: Now Martha let me tell you about this little investment thats been kicking around the office, my dad has the power to sign on the dotted line, but........whats in it for him? in my book John, I feel you should pay 35% of it, but, if i did have that kinda pocket change rolling around, i would be looking for a shelter because im greedy and I dont like to give my hard earned money away, im intitled to it, I deserve it, I know people......

I agree Eric. 35% would be reasonable in that case. It is of course hypothetical. I don't understand the tax shelter statement. If you don't have to pay income tax on it what are you sheltering it against? You can just take your profits as you like and pay no tax as it stands right now. Reinvestment is not a requirement. Feel free to buy a Balding Male White (BMW) or a Mange Roller (Range Rover) with it and give someone in Germany or India a job building it with your tax free income. The rest you can invest in your emerging markets fund and finance foreign competition. After all, who cares when you have your pie?
Oh, BTW I don't have to pay into Social Security with that income either, and if I buy a new iPad or computer, or jewelry, as a gift for the wife and kids this year I would of course do it on the Interweb, after all, why pay sales tax on your high ticket items. Then I will complain that my state is broke.

Well let's see, just a hypothetical here:
Let's say I sell 1000 shares of the AAPL I have accumulated over a number of years at a cost basis of $34.00 for spending money this year. I sell them for $356.00 / share, about the current price. I have owned them more than a year. I get $356,000 for the 1000 shares which is $322,000 profit and that is my income for the year besides a small pension. What is my tax on that 322,000 unearned income?
I hope you guessed $0.00. If not you have the wrong answer.
Keep thinking its fair.

John b....I have read your posts before, and I think I read that you are retired. Correct me if I am wrong. If you are retired, you are living on savings, and dividends, I assume. Those are taxed at lower rates than ordinary income. 15% I believe vs. say 25-38% or so for ordinary income also known as salaries, wages, tips, etc.

When I retire, I sure as heck hope to pay the lower rates. It is mostly retired people living on dividends. They have worked hard their whole lives, and scrimped and saved to get to a point to be able to do that. I say that if Warren Buffet, who is a big proponent of wanting to pay higher taxes, want to pay more to the government, then by all means, write a check out and send it in. However, I don't think many of the "limosine liberals" actually do it. They want me and you to pay more, but, they just talk. Of course, its very easy for a billionaire like Buffet to say that he doesn't need all that money. Let him live on a salary, put kids through college, save for retirement, and pay sky high property taxes. He may sing a different tune. But, he has lots of billions. He is a little too comfy throwing my money around as I see it.

By the way, congrats on your new boat. I saw pictures of it on Gary's post. Very nice rig!

I am as happy as can be! My portfolio is up about 48% since Obama took office and my tax rate is less than either of my daughters rates, even though their income is less that 20% of mine. I pay all of the taxes I am required to under the present code, I even add the optional fee to my boat registrations to support clean water. I am certainly not "rich" by the standards of many, most of you on this site undoubtedly have much more than me, but I have more than food and shelter. The economy couldn't be better if you have some money! If you are trying to find any job out there to pay your bills, or if you are just scraping by, or losing your house and medical coverage, don't think I am not grateful to you for paying a healthy share of my taxes with your higher tax rate.
BTW, I just bought another CC Mustang Saturday with my tax savings. This one is pretty nice and original too, another Holman Moody. I hope you who are scraping by don't figure it out, after all, if I paid the same rate as my daughters do I may have to thin the boat collection down to just six. What would my summer home neighbors think if I had only six boats? I believe they would think I had fallen on hard times.
The failure of the system is so glaring that a person must have VERY dark sunglasses on not to see it. The tax rate SHOULD be higher for those with higher incomes. How much material crap can you own? There was a time in my youth that I actually believed more was better. I have gained some wisdom since then. Greed is a cancer. The joy of life and is not found on the bottom of a ledger sheet.