Election 2012 Is Comming |
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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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?
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"the things you own will start to own you"
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davidg
Grand Poobah Joined: January-07-2008 Location: NW Chicagoland Status: Offline Points: 2239 |
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John....Two questions! 1.) Any good stock picks you looking at now? 2.) Can I get the name of our tax guy? |
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john b
Grand Poobah Joined: July-06-2011 Location: lake Sweeny Status: Offline Points: 3241 |
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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. |
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1970 Mustang "Theseus' paradox"
If everyone else is doing it, you're too late! |
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davidg
Grand Poobah Joined: January-07-2008 Location: NW Chicagoland Status: Offline Points: 2239 |
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John...I was kidding you about investment advice. I tend to be an index fund guy anyway. A great way to diversify, and save $$$ vs. actively managed funds. I have not had much luck with individual stocks. But, you find the right stock, and it can be very lucrative. I remember some friends recommended Apple back around '96. Now that is advise I should have taken. But, who knows how a stock will turn out. I My tax guy is Mr. Turbo Tax. Cheaper that way since I have the usual deductions. I also live as inexpensively as possible. We drive a 2003 Mountaineer with 120,000 on it. No plans to get rid of it yet. Really enjoy not having a $500/month car payment. We just took our first family vacation in over 10 years this past June. Putting my kids through school and staying out of debt as much as possible are my goals.
I appreciate your viewpoint on this great country, and share those sentiments. However, I don't necessarily agree with your thoughts on the current protests. As I have stated before, I am not sure what they really want. Nobody has made a compelling argument as to the goal of the protests...other than they don't like the "1%", and they want their student loans forgiven. I just keep thinking that there has to be something more to it than just that. Also, we may view compassion differently. As you know, I tend to view compassion as not having generations of people become dependant on government for their existance. What a miserable life that is. And, in my view, it has ruined a countless number of lives. Again, the road to hell is paved with good intentions. Anyway, discussion for another time. You will have to come out to a Chicago Beers sometime. It would be good to meet you. |
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john b
Grand Poobah Joined: July-06-2011 Location: lake Sweeny Status: Offline Points: 3241 |
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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. |
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1970 Mustang "Theseus' paradox"
If everyone else is doing it, you're too late! |
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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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.
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"the things you own will start to own you"
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davidg
Grand Poobah Joined: January-07-2008 Location: NW Chicagoland Status: Offline Points: 2239 |
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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.
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azeus17
Gold Member Joined: August-19-2007 Location: Grand Rapids, M Status: Offline Points: 576 |
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I am not an expert by any means, but I have been doing some research on this topic as my wife and I recently sold some stock for the 20% down payment on our house. From what I understand, your explanation is off. Correct me if I am wrong, but the 0% tax on capital gains is only on the amount sold that when added to your regular income puts you into the 25% tax bracket. For your example, say you earn $40,000 in regular taxable income, only $28k of your capital gains (total of $68,000, limit for 15% tax bracket) is non taxable...the remainder of your $350,000 is taxed at the regular long term rate of 15%. (this is for married, filing jointly) Even if you earned zero in taxable wages, you would still be left with a large tax liability. Please let me know if I am wrong as I am looking for a way to minimize my liabilities. |
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Boats:
Current: 02 SANTE Sold: 89 Sport Nautique |
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OverMyHead
Grand Poobah Joined: March-14-2008 Location: MN Status: Offline Points: 4861 |
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How about moving out of Michigan for starters, Maybe Florida or the one of the Dakotas? |
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For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats.
1987 Ski Nautique |
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azeus17
Gold Member Joined: August-19-2007 Location: Grand Rapids, M Status: Offline Points: 576 |
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Was in FL for 3 years, and Arkansas for 2 years after that. Back to MI with the birth of our first child to be near grandparents. Lucky enough to find a great job in this state. If the rest of the family would move to the Dakota's, I might give those a try too!
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Boats:
Current: 02 SANTE Sold: 89 Sport Nautique |
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skicat2001
Platinum Member Joined: November-24-2008 Location: Ft. Worth TX Status: Offline Points: 1950 |
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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!! |
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1985 CC 2001-SOLD
Lee Michael Johnson |
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skicat2001
Platinum Member Joined: November-24-2008 Location: Ft. Worth TX Status: Offline Points: 1950 |
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AMERICA WE MUST WAKE UP!
Talk about slapping the American people in the face. This president needs to be out of office and deported. This is freaking unbelievable! 44 CENT FOREVER STAMP Apparently they think that putting "hearts" and "butterflies" on the new stamp will make most people NOT realize that the rest is Arabic, and not something we Americans should support ! New Stamp - the second one! USPS New 44-Cent Stamp Celebrates a Muslim holiday ! If there is only ONE thing you forward today... let it be this! President Obama has directed the United States Postal Service, to REMEMBER and HONOR the EID MUSLIM holiday season with a new commemorative 44-Cent First Class Holiday Postage Stamp. REMEMBER to adamantly & vocally BOYCOTT this stamp when you are purchasing your stamps at the post office. All you have to say is "No thank you, I do not want that Muslim Stamp on my letters!" Pass this along to every Patriotic American that you know ! Honor the United States of America ! "In God we trust" |
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1985 CC 2001-SOLD
Lee Michael Johnson |
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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I hear they have a new Cain stamp, when you lick it, it giggles
I just made that one up, thats a keeper |
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"the things you own will start to own you"
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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lame
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"the things you own will start to own you"
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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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
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"the things you own will start to own you"
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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Damn, just think if you bought all your gifts made in America....we would be talking about boats right now
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"the things you own will start to own you"
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harddock
Platinum Member Joined: June-04-2008 Location: Toontown, MA Status: Offline Points: 1763 |
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Cain has a new campaign manager...... Tiger Woods
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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its funny, the power of the boob tube, suttle hints of purchasing American made products, obviously to me the core of this countries problem undisputeably, but I think sublimily it will catch on. we have a entire generation morally undisturbed of everyday purchases...really, at what age does one become concerned about their surroundings? this is the *************** that should be taught in our schools, along with history starting at 1492 not 1826, Weve done our justice worldwide and we need to concentrate on us, take care of number one, obviously feed the hungry kids around the world and thats it, what a debocle the government has become, I try not to be anti-government but your left with no choice, its a mockery of what it was built upon, you boys are running out of time and canidates, were looking for the best of the best, and ya keep shootin blanks. I dont know about you guys, but im looking for a savior and niether side is coming up with one, well were stuck with what we have for 4 more, but you guys keep painting yourselves into a corner...to me it seems true colors are showing and im not being bias, you threw 8 or so at us and your down to one. we are a beacon worldwide and we are used to set an example, what do our neighbors think?
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"the things you own will start to own you"
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BuffaloBFN
Grand Poobah Joined: June-24-2007 Location: Gainesville,GA Status: Offline Points: 6094 |
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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well Greg, your only single hopeful, used his head with no brains
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"the things you own will start to own you"
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harddock
Platinum Member Joined: June-04-2008 Location: Toontown, MA Status: Offline Points: 1763 |
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Some times when the family buiseness is run by the second or even third generation things go down hill. They were handed a business they were not ready to handle. They're young, good looking, and talk a good story. They have big ideas and usually spend big too. Before things get real bad grampa, or dad comes out of retirement, digs in and gets things straightened out. We have had three terms of the kids at the helm and look what has happened, Big ideas and big spending. It is time to put an expierenced grown up back in the office to straighten things out.
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BuffaloBFN
Grand Poobah Joined: June-24-2007 Location: Gainesville,GA Status: Offline Points: 6094 |
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I wonder why BO is so terrified of Cain. Things don't just happen...there are always reasons/motives. |
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BuffaloBFN
Grand Poobah Joined: June-24-2007 Location: Gainesville,GA Status: Offline Points: 6094 |
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Eric, give me a ring when you have a minute. Unrelated.
six seven eight 316 4438 |
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OverMyHead
Grand Poobah Joined: March-14-2008 Location: MN Status: Offline Points: 4861 |
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It is a basic design flaw that a man only has enough bloodflow to run one of them at a time. It does reveal a character flaw, and a lack of loyalty to me if it is true. Imagine where Clinton would have wound up if it had been revealed that he had bunch of affairs before running for president...oh never mind, but imagine his legacy if he had one in the oval office.....never mind again, damn media and their double standards! |
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For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats.
1987 Ski Nautique |
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Riley
Grand Poobah Joined: January-19-2004 Location: Portland, ME Status: Offline Points: 7954 |
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If what they are saying about Cain is not true, it is horrible what they are doing to him. If it is true, he is stupid for running.
Who's going to step up and replace Barney Frank in Mass? |
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BuffaloBFN
Grand Poobah Joined: June-24-2007 Location: Gainesville,GA Status: Offline Points: 6094 |
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That's one heckuva point sir. Why would he ever enter the race if he knew what the media was likely to find?
I don't know, but I hope for whoever's sake, they physically replace the chair. |
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eric lavine
Grand Poobah Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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well seeing that brain dont think, i would tend to believe its true....look how long State Penn was covered up, you know that went all the way to the dean......if you wanna get laid go buy a damn hooker, then you could qustion credibility, its implanted in my brain already and when you mention his name, the first thing that pops into my head is what the allegations are. he's done at this point he is a vote stealer
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"the things you own will start to own you"
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wingwrench
Senior Member Joined: December-11-2010 Location: Lakeland, FL Status: Offline Points: 155 |
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If Cain wasn't a threat none of this nonsense would be out there. Only a conservative can be convicted on hearsay. Obama knows he can't beat him.
A true test of how true this stuff is, look at the bank accounts of the accusers. You won't hear that on your lame stream media. My money and vote is still with Cain. |
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skicat2001
Platinum Member Joined: November-24-2008 Location: Ft. Worth TX Status: Offline Points: 1950 |
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I would have to agree. Liberal media destroyed Cain, but I still like the guy. He has some great business ideas that Obama cant even think off. He justs wants to spend money, keep taxing the rich, and he couldnt create a job if he tried. I am good friends here with alot of my neighbors. The score in my neighborhood is 100-0 Republicans.. Newt will prevail |
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1985 CC 2001-SOLD
Lee Michael Johnson |
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john b
Grand Poobah Joined: July-06-2011 Location: lake Sweeny Status: Offline Points: 3241 |
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He's just another Re-pud-lickin! |
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1970 Mustang "Theseus' paradox"
If everyone else is doing it, you're too late! |
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