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Thread: The Fiscal Cliff - Part 2

  1. #11
    Senior Member Franco's Avatar
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    I am trying to sell as much of my investment property as I can before the end of the year. I placed it all on the market last October with an agent(except of the home I just had built) when I had a feeling Obama would win reelection. I don't mind paying the 15% on Capital Gains but I'll be damned if I am going to pay more. Same for the few stocks I bought last month. Market is up and all was sold today, same reason. And, I won't be reinvesting any of it!
    It's time we abandon our party affiliations and rather than being good Dems or good Repubs we all become good Americans. MJH345

  2. #12
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    Quote Originally Posted by Franco View Post
    Well Marv, we agree on something! The cost to the oil companies to produce a barrel of oil within the USA is the highest in the world. If push comes to shove, believe me they don't need the USA. Though, we will be buying their oil. And may your God help you if the government thinks they can produce oil as safely and productive as the major oil companies do. Dubai is offereing all kinds of incentives to get companies like Exxon Mobile to move there.
    We probably agree on a lot of things from the business world - where we don't agree is how & who would provide the climate to make that happen. I do have the background of responsible positions in 2 major companies in 2 different major industries with 2 different methods of management to draw upon & that's why I believe that my or a similar approach is best for the country .

    We have seen Boeing go to Chicago where they are a player with more competition for attention than they would have had in Seattle, yet they moved. We saw Boeing go to SC for a more favorable work environment. So moves are not out of the question, but I will say this, going to a foreign country should be well thought out before making the move. You are only a regime change away from things changing drastically. In my formal education we were taught that unstable governments require a higher rate of return in order to cover the cost of locating in that country. In the mining business you go where the ore is depostited, so you are restircrted in that manner. But it's only ore if it can be mined at a profit, so if the country makes it cost prohibitive, it's waste . but true.
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  3. #13
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    Quote Originally Posted by Franco View Post
    I am trying to sell as much of my investment property as I can before the end of the year. I placed it all on the market last October with an agent(except of the home I just had built) when I had a feeling Obama would win reelection. I don't mind paying the 15% on Capital Gains but I'll be damned if I am going to pay more. Same for the few stocks I bought last month. Market is up and all was sold today, same reason. And, I won't be reinvesting any of it!
    We have harvested some low hanging fruit but I still believe the market is the only place that will provide the inflation hedge to deal with what's going to happen so am still investing. There are bargains out there. I sat on a 12 bagger in GX because i did not want to contribute to Clinton's legacy. Guess what, Gary Winnick was a crook, the company folded, we lost a bundle & Winnick walks free because he contributed to the right politicians including George HW. That will not change my opinion that this is the greatest country in the world & the only way to make money is participate.
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  4. #14
    Senior Member huntinman's Avatar
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    Quote Originally Posted by Marvin S View Post
    Murral, I do not look down my nose at you as I do not look down my nose at anyone . What I do do is feel sorry for you with a damn near empty tool box attempting to compete in any venue .

    You know little of me yet as others have pointed out, you make a feeble attempt to characterize me & them. We grew up in the same environment, I would venture to say that my circumstances were much more trying than yours, yet somehow I managed to rise above that whereas you apparently did not. I would say you might want to think about that but I believe you incapable of rational thought.

    BTW, I would explain Risk-Reward ratio to you but again, I did not say capital gains should be taxed as ordinary income - I said - Hedge Fund folks should not be able to treat short term gains as long term capital gains - it has to do with risk-reward, a subject you apparently are not converse in .

    Bingo................
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    Quote Originally Posted by Marvin S View Post
    Murral, I do not look down my nose at you as I do not look down my nose at anyone . What I do do is feel sorry for you with a damn near empty tool box attempting to compete in any venue .

    You know little of me yet as others have pointed out, you make a feeble attempt to characterize me & them. We grew up in the same environment, I would venture to say that my circumstances were much more trying than yours, yet somehow I managed to rise above that whereas you apparently did not. I would say you might want to think about that but I believe you incapable of rational thought.

    BTW, I would explain Risk-Reward ratio to you but again, I did not say capital gains should be taxed as ordinary income - I said - Hedge Fund folks should not be able to treat short term gains as long term capital gains - it has to do with risk-reward, a subject you apparently are not converse in .
    You and I did grow up with the same circumstances, and yes yours probably was more trying than mine. I got out of poverty, just never forgot where I came from. I am very capable of rational thought, what is rational to me may not be rational to you. I have competed in venues that you probably would not do well in. Different circumstances and different venues. You probably did very well in intellectual venues and possibly physical venues, where I did well in physical venues. somebody must've thought I had pretty rational thoughts, because they promoted me up the ladder. You don't get promoted by being stupid. I don't have the extra income or money to be able to play with those hedge funds. I really don't want to be rich because I have seen how money changes people. the worst hipocrites to me are the ones that have risen above their humble beginnings and for get where they came from.

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    Quote Originally Posted by huntinman View Post
    Bingo................
    And why don't you go back and get under the rock you've been hiding under since Rmoney got his arse kicked.

  7. #17
    Senior Member Franco's Avatar
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    Quote Originally Posted by Marvin S View Post
    We probably agree on a lot of things from the business world - where we don't agree is how & who would provide the climate to make that happen. I do have the background of responsible positions in 2 major companies in 2 different major industries with 2 different methods of management to draw upon & that's why I believe that my or a similar approach is best for the country .

    We have seen Boeing go to Chicago where they are a player with more competition for attention than they would have had in Seattle, yet they moved. We saw Boeing go to SC for a more favorable work environment. So moves are not out of the question, but I will say this, going to a foreign country should be well thought out before making the move. You are only a regime change away from things changing drastically. In my formal education we were taught that unstable governments require a higher rate of return in order to cover the cost of locating in that country. In the mining business you go where the ore is depostited, so you are restircrted in that manner. But it's only ore if it can be mined at a profit, so if the country makes it cost prohibitive, it's waste . but true.
    THe United Arab Emirates is one of the most stable areas of the world. Certainly more stable than most of Europe, Asia, Africa, S America.

    I got into the stock market in October and now I am out. I'm not going to pay more than 15% on Capital Gains, period!

    In 37 years working in radio, I have had the privledge of working with hundreds of small and medium sized businesses and ad agencies. There aren't many retail or services businesses that I am not familiar with or how they make their money. One key to being sucessful in my field is in becoming an expert in other peoples' businesses. I am an "idea man" and a problem solver. If one can't talk their language then one can't be truly successful. I've also spent much of my career working for the biggest and what use to be the best broadcast company in the USA until the Thunder, Wonder, Blunder syndrome affected the corporate bottom line.

    Luckily, I live in an area that is thriving. Our area has always been the hub for offshore oil activity but our city leaders had the foresight to wire the city with Fiber Optics which has also made us a medical hub. Not talking service level income for the area but jobs that pay substanial incomes. And, I hear he concerns from the locals as well as the rest of the company in the 45 markets that we are in around the country.

    WE are all paying way too much in taxes! Over half of my income goes to; Federal taxes, State taxes, sales tax, gasoline taxes, etc. Enough is enough! I tell folks all the time that we now work for the government and they look at me like duh. Government is now the privlidged class, we work for them and I'm getting out!

    The best thing that could happen to this country economically is for the 53% that pay taxes is for all of us to get a huge reduction in the taxes we pay! That would be a major strimulus and not the phoney kind the government is always peddling!
    Last edited by Franco; 12-12-2012 at 10:39 PM.
    It's time we abandon our party affiliations and rather than being good Dems or good Repubs we all become good Americans. MJH345

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    Quote Originally Posted by murral stark View Post
    Hey Marvin,
    I only take the standard deduction each year. Don't make enough money to have to worry about all of those deductions that you "Rich OLD FARTS" can take. It's condescending azzholes like you that made me "hate" rich people and makes me want to "stick it to 'em" every chance I get. I know some people that have alot of "wealth", but they don't talk down to people or look down their noses at them. It's the people like you that walk around with your nose in the air so high that if it rained, you'd drown, that causes the hatred. Your great President Ronald Reagan talked about trickle down. When can we expect to see that? We got the down, just not the trickle.
    .................................................. ........are you sure that you hate the people or is their actions that you hate ?
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    ~Will Rogers~

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    Quote Originally Posted by charly_t View Post
    .................................................. ........are you sure that you hate the people or is their actions that you hate ?
    The ones that I dealt with personally, I hate them with a passion. The other rich people I don't know, I hate their actions but don't know enough of them to hate them personally.

  10. #20
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    A number of things said are not based on rational thought as much as reactions in thoughts. Thus, they are thoughtless thoughts. A ratio of thoughts will in this thread will determine those thoughts which are thoughtless.

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