[cyphire]

Wow Drunkle – I wished that I had read your post instead of replying to Surveyor. I know that I didn’t even express myself half as well as you did. I also really admire Warren Buffett.

[cyphire]

Wow Drunkle – I wished that I had read your post instead of replying to Surveyor. I know that I didn’t even express myself half as well as you did. I also really admire Warren Buffett.

[cyphire]

Surveyor – there is inherent waste in government… absolutely agree with you. With higher taxes we could start retiring the debt and have programs to make the country not just a vehicle for the wealthier getting wealthier. I don’t agree that giving money to the government is wasteful, just that it is inefficient.

CEO’s and upper management fly private jets (citing security issues – yes, I’m sure that the people who sell seeds at ADM should worry that terrorists are waiting for them in the first class lounge)… They are thieves.

People around La Jolla need the extra Ferrari, Masarati, ect. Far better that they have some toys then kids in the inner city getting job training.

I know that you will all accuse me of being a bleeding heart liberal. I am a liberal and proud of it. I’m not a bleeding heart, I’m a business person. We paid lots of money for training for our employees, and every dollar we paid came back to us 3 fold. Set up job corps, set up training, give kids after school programs and teacher assistants, and start up jobs… and crack sales and robberies will go down. Thats not liberalism, it’s just good business. Increase taxes on the wealthy – we are becoming a third world country in the gap between rich and poor. Our middle class is shrinking and under pressure, and all ALL the money is flowing to the top.

I had a summer job for the guy who made the most money in the US last year (Jim Simons). I made 4$/hour (back in the 70’s), he made a billion and a half salary last year. I don’t begrudge it – quite the opposite! But take the hedge fund profits, the oil profits, etc. and apply reasonable but normal taxes to them – instead of letting them write the legislation in DC with their lobbyists.

[cyphire]

Surveyor – there is inherent waste in government… absolutely agree with you. With higher taxes we could start retiring the debt and have programs to make the country not just a vehicle for the wealthier getting wealthier. I don’t agree that giving money to the government is wasteful, just that it is inefficient.

CEO’s and upper management fly private jets (citing security issues – yes, I’m sure that the people who sell seeds at ADM should worry that terrorists are waiting for them in the first class lounge)… They are thieves.

People around La Jolla need the extra Ferrari, Masarati, ect. Far better that they have some toys then kids in the inner city getting job training.

I know that you will all accuse me of being a bleeding heart liberal. I am a liberal and proud of it. I’m not a bleeding heart, I’m a business person. We paid lots of money for training for our employees, and every dollar we paid came back to us 3 fold. Set up job corps, set up training, give kids after school programs and teacher assistants, and start up jobs… and crack sales and robberies will go down. Thats not liberalism, it’s just good business. Increase taxes on the wealthy – we are becoming a third world country in the gap between rich and poor. Our middle class is shrinking and under pressure, and all ALL the money is flowing to the top.

I had a summer job for the guy who made the most money in the US last year (Jim Simons). I made 4$/hour (back in the 70’s), he made a billion and a half salary last year. I don’t begrudge it – quite the opposite! But take the hedge fund profits, the oil profits, etc. and apply reasonable but normal taxes to them – instead of letting them write the legislation in DC with their lobbyists.

[cyphire]

Hate to burst your bubble jg, there aren’t a lot of people who earn more than me. I just set up an interlocking trust because I wanted to protect my assets up to the point legally allowed. Also when my children inherit, I want the money that is left to be doled out to them at 25, 30, and 35 years of age. I am not unhappy about the government taking 50% of anything above 7 million dollars from me. My kids aren’t getting matching Ferrari’s when they graduate high school – even though I could buy them a set each. Estate tax is just a way of distributing wealth created to the betterment of society Perhaps you and PD forget that any money made above a certain point was made off the sweat of others.

My father made very good money for his time (up to about 200k at his best) – but I had to earn the money for my first car and he matched it ($1500) for a tank which cost more in gas then would believed possible even at 1970’s prices.

I worked for his company for a time and learned all I could. I was paid a low wage, then a better one, then I started my own company and made him very proud. Thats the American dream.

I busted my ass and worked like a dog to get where I am today. I started a software company in the 80’s and sold it last week. The people who worked for me were fairly paid – but the way the system is set up I made the real money. I’m not ashamed of that but grateful. I think that higher taxes on everyone above a million dollars is a fine thing. Even though it would cost me money – I would be happy to have more social services and to help create a better society. If it is handled right (big if the way the government usually works.)

While I applaud the brainwashing of ‘hope and work for a better future’, the folks in DC are screwing you and millions of others out of their future by keeping the vast majority of money in the hands of a tiny fraction of the country. This is done by low taxes and a different set of rules for the top. But keep shouting the platitudes – and worrying that too many people in the slums are getting too many social services! (sorry – or was that PD?).

And the poster is right about the lottery. Poor people spend dollars they can’t afford trying (using after-tax money) and then not only do they get less than 50% of them money collected (and then the present value of that so call it 20%), they then pay a new income tax on that money (so basically the government keeps 90% of the lottery money).

Ciao

[cyphire]

Hate to burst your bubble jg, there aren’t a lot of people who earn more than me. I just set up an interlocking trust because I wanted to protect my assets up to the point legally allowed. Also when my children inherit, I want the money that is left to be doled out to them at 25, 30, and 35 years of age. I am not unhappy about the government taking 50% of anything above 7 million dollars from me. My kids aren’t getting matching Ferrari’s when they graduate high school – even though I could buy them a set each. Estate tax is just a way of distributing wealth created to the betterment of society Perhaps you and PD forget that any money made above a certain point was made off the sweat of others.

My father made very good money for his time (up to about 200k at his best) – but I had to earn the money for my first car and he matched it ($1500) for a tank which cost more in gas then would believed possible even at 1970’s prices.

I worked for his company for a time and learned all I could. I was paid a low wage, then a better one, then I started my own company and made him very proud. Thats the American dream.

I busted my ass and worked like a dog to get where I am today. I started a software company in the 80’s and sold it last week. The people who worked for me were fairly paid – but the way the system is set up I made the real money. I’m not ashamed of that but grateful. I think that higher taxes on everyone above a million dollars is a fine thing. Even though it would cost me money – I would be happy to have more social services and to help create a better society. If it is handled right (big if the way the government usually works.)

While I applaud the brainwashing of ‘hope and work for a better future’, the folks in DC are screwing you and millions of others out of their future by keeping the vast majority of money in the hands of a tiny fraction of the country. This is done by low taxes and a different set of rules for the top. But keep shouting the platitudes – and worrying that too many people in the slums are getting too many social services! (sorry – or was that PD?).

And the poster is right about the lottery. Poor people spend dollars they can’t afford trying (using after-tax money) and then not only do they get less than 50% of them money collected (and then the present value of that so call it 20%), they then pay a new income tax on that money (so basically the government keeps 90% of the lottery money).

Ciao

[cyphire]

I understand your consternation PD, believe me I do. But a society has to have rules and ethics – you don’t exist in a vacuum. Why is it that the rich are getting so much richer? Is it hard work, dedication, or is society just set up for the benefit of the rich? The idea is that above a certain limit society gets to share in what you have. It’s a tax. If you want to eliminate the estate tax, then lets have a much higher graduated tax – and remove what George Bush did – steal from the rest of society so some people could buy more cars and bigger houses.

I am an entrepreneur – I don’t like insanely high taxes – but our current tax system is not only very unfair, it is legalized theft. The rich are paying a tiny percentage of taxes compared to the average joe (based on disposable income). Take someone making 30K per year. After paying for housing, basic food, insurance, etc. there is nothing left. Take someone making 400K… After paying for housing, basic food, insurance, (and taxes)… Woh! There is 200K left over!!! Woo HOO!

And JG – nice to be on the top… But the folks that cut your grass, wire your houses, cook your meals, clean up your tables and change your oil deserve services also. Funny – but all the people of have so much really think that everyone else should get crap.

PD and JG… Perhaps you are feeling some guilt?

[cyphire]

I understand your consternation PD, believe me I do. But a society has to have rules and ethics – you don’t exist in a vacuum. Why is it that the rich are getting so much richer? Is it hard work, dedication, or is society just set up for the benefit of the rich? The idea is that above a certain limit society gets to share in what you have. It’s a tax. If you want to eliminate the estate tax, then lets have a much higher graduated tax – and remove what George Bush did – steal from the rest of society so some people could buy more cars and bigger houses.

I am an entrepreneur – I don’t like insanely high taxes – but our current tax system is not only very unfair, it is legalized theft. The rich are paying a tiny percentage of taxes compared to the average joe (based on disposable income). Take someone making 30K per year. After paying for housing, basic food, insurance, etc. there is nothing left. Take someone making 400K… After paying for housing, basic food, insurance, (and taxes)… Woh! There is 200K left over!!! Woo HOO!

And JG – nice to be on the top… But the folks that cut your grass, wire your houses, cook your meals, clean up your tables and change your oil deserve services also. Funny – but all the people of have so much really think that everyone else should get crap.

PD and JG… Perhaps you are feeling some guilt?

[cyphire]

SD Realtor… Ever heard of a company called Zymos?

Just wondering.

[cyphire]

SD Realtor… Ever heard of a company called Zymos?

Just wondering.

[cyphire]

I agree Chris.

I don’t want a large number of people to be hurt – but if they start playing games with the market economics, then someone will get hurt. Prices need to come down. Anything that changes this will provide some relief for some, but will hurt the vast majority who can’t buy homes.

Lets face it. There is no significant reason for the price run up, no one but hard core Realtors with only greed on their side can make a point for this. What goes up must come down to a fundamental point. We have been living on credit in this society for too long, there has to be a correction. Even if it isn’t a massive correction, with interest rates where they are now most people can’t buy. That isn’t right. Also – what about all the baby boomers. They need to sell. With prices this high there has to be downward pressure. With downward pressure will increase the buyers.

Just my opinion – remember – we are just after the largest price increase on record. Prices were still flat or higher a year ago. This roller coaster is just heading down and it will gather speed.

[cyphire]

I agree Chris.

I don’t want a large number of people to be hurt – but if they start playing games with the market economics, then someone will get hurt. Prices need to come down. Anything that changes this will provide some relief for some, but will hurt the vast majority who can’t buy homes.

Lets face it. There is no significant reason for the price run up, no one but hard core Realtors with only greed on their side can make a point for this. What goes up must come down to a fundamental point. We have been living on credit in this society for too long, there has to be a correction. Even if it isn’t a massive correction, with interest rates where they are now most people can’t buy. That isn’t right. Also – what about all the baby boomers. They need to sell. With prices this high there has to be downward pressure. With downward pressure will increase the buyers.

Just my opinion – remember – we are just after the largest price increase on record. Prices were still flat or higher a year ago. This roller coaster is just heading down and it will gather speed.

[cyphire]

Having just set up a trust (to avoid some of the estate taxes), I would still agree with PerryChase and the other poster. Look – I understand both sides of these views, but think that our country is set up pretty unfairly. Estate taxes above a certain amount seem to me to be a reasonable precaution against keeping large estates in family hands who didn’t earn them.

Current law:

* The federal estate tax exemption amount is $2,000,000 in 2006 increasing to $3,500,000 in 2009. The highest federal estate tax rate is 46% in 2006 and decreases to 45% in 2007-2009. The federal estate tax will be repealed on 1/1/10 until 12/31/10. Beginning 2011, the federal estate tax will be reinstated with a federal estate tax exemption amount of $1,000,000 and a maximum estate tax rate of 55%. Currently, bills are pending in Congress that, if passed, would permanently repeal or otherwise lessen the impact of the federal estate tax.

First of all the people who watch American Idol (including myself even though I despise all reality shows – hey it’s a singing competition!) all work. They work pretty hard, get a couple of weeks vacation if they are lucky, and pay taxes. Have you guys forgot that most of the wealth in this country is in the hands of a small percentage?

The people at the top have the power, are the employers and have been structuring the tax system and the benefits of the tax system to their own advantage (including mine) to the detriment of the rest of society. Literally all the wealth created in the last 30 years have gone to the upper brackets – the rest of the brackets have stayed the same or gone down.

Until last week I owned a company. As hard as I worked, I also made the rules. And all the people in the company had to punch a clock and deal with lopsided earning power. Lets face it. Not only were jobs not created or earning power increased for the vast number of Americans during Bush’s tax cut system, but all it did was enrich the wealthy and the rich. We paid our employees at or above (in some cases way above) current price points – but still we made even more money.

I’m amazed at people who have disdain for “the great unwashed”. It’s these people who have the crappy jobs, work their asses off doing menial labor. Have to put up with personalities like some of the voices recently expressed in this blog, et. cetera.

I want my children to stand on their own two feet. That being said, they will start with a HUGE advantage compared to the rest of society. JG your kids go to private school. despite any taxes you might pay they will have lots of material possessions from you. The average kid in this country goes to public school, private school isn’t an option for them economically. The bottom percentage of our society goes to crap public schools, deals with drugs and metal detectors, gangs, violence. My kids also go to private school… Will probably go to an elite university and will have a trust fund in 7 figures. Do you really think it’s unfair to lose half of the estate above some number of million dollars to provide for the rest of society? I don’t. I’m glad to pay it.

The problem we have in this country is too low taxes. We also have the problem that most of the guys at the top are stealing from everyone else. A study was just done that showed that the average of all mergers in the last 20 years have resulted in less then the seperate companies to the stockholders… Some percentage of the people who are employed by the former companies lost their jobs.. The CEO’s and the executives got insanely rich. Without actually having any better performance. What a country!

Keep voting your pocketbook… You have to live with your conscious.

[cyphire]

Having just set up a trust (to avoid some of the estate taxes), I would still agree with PerryChase and the other poster. Look – I understand both sides of these views, but think that our country is set up pretty unfairly. Estate taxes above a certain amount seem to me to be a reasonable precaution against keeping large estates in family hands who didn’t earn them.

Current law:

* The federal estate tax exemption amount is $2,000,000 in 2006 increasing to $3,500,000 in 2009. The highest federal estate tax rate is 46% in 2006 and decreases to 45% in 2007-2009. The federal estate tax will be repealed on 1/1/10 until 12/31/10. Beginning 2011, the federal estate tax will be reinstated with a federal estate tax exemption amount of $1,000,000 and a maximum estate tax rate of 55%. Currently, bills are pending in Congress that, if passed, would permanently repeal or otherwise lessen the impact of the federal estate tax.

First of all the people who watch American Idol (including myself even though I despise all reality shows – hey it’s a singing competition!) all work. They work pretty hard, get a couple of weeks vacation if they are lucky, and pay taxes. Have you guys forgot that most of the wealth in this country is in the hands of a small percentage?

The people at the top have the power, are the employers and have been structuring the tax system and the benefits of the tax system to their own advantage (including mine) to the detriment of the rest of society. Literally all the wealth created in the last 30 years have gone to the upper brackets – the rest of the brackets have stayed the same or gone down.

Until last week I owned a company. As hard as I worked, I also made the rules. And all the people in the company had to punch a clock and deal with lopsided earning power. Lets face it. Not only were jobs not created or earning power increased for the vast number of Americans during Bush’s tax cut system, but all it did was enrich the wealthy and the rich. We paid our employees at or above (in some cases way above) current price points – but still we made even more money.

I’m amazed at people who have disdain for “the great unwashed”. It’s these people who have the crappy jobs, work their asses off doing menial labor. Have to put up with personalities like some of the voices recently expressed in this blog, et. cetera.

I want my children to stand on their own two feet. That being said, they will start with a HUGE advantage compared to the rest of society. JG your kids go to private school. despite any taxes you might pay they will have lots of material possessions from you. The average kid in this country goes to public school, private school isn’t an option for them economically. The bottom percentage of our society goes to crap public schools, deals with drugs and metal detectors, gangs, violence. My kids also go to private school… Will probably go to an elite university and will have a trust fund in 7 figures. Do you really think it’s unfair to lose half of the estate above some number of million dollars to provide for the rest of society? I don’t. I’m glad to pay it.

The problem we have in this country is too low taxes. We also have the problem that most of the guys at the top are stealing from everyone else. A study was just done that showed that the average of all mergers in the last 20 years have resulted in less then the seperate companies to the stockholders… Some percentage of the people who are employed by the former companies lost their jobs.. The CEO’s and the executives got insanely rich. Without actually having any better performance. What a country!

Keep voting your pocketbook… You have to live with your conscious.

[cyphire]

Ozzie – are you a programmer? Designer? I just sold my software company… And also dropped out of school about 25 years ago.

I’ve been slacking for a few years also!

[Author]

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