[RottedOak]

Not to mention delayed inspections, missed appointments, etc., as people deal with evacuations for themselves and their families. I would think that the fact that it is near the end of the month is especially unhelpful. Don’t lots of escrows close in the later part of the month?

[RottedOak]

Not to mention delayed inspections, missed appointments, etc., as people deal with evacuations for themselves and their families. I would think that the fact that it is near the end of the month is especially unhelpful. Don’t lots of escrows close in the later part of the month?

[RottedOak]

You are correct that insurance companies will pull most of their payout funds from other areas (definitely a net loss globally). However, not all losses are insured, and not all insurance funds will be spent locally. Some of the insured will take the money and leave. And the insurers will make up for their payouts with rate increases that will drain money from the area. Nor is the economic disruption limited to “this week.” All of the effort that goes into rebuilding over the next several years — the arguing with insurance companies, the permit processes, hiring contractors, etc. — is a diversion for the homeowners. Some of that (all the overhead for dealing with insurers and government) is pure loss with no net production. If you focus narrowly enough, you can find “winners,” but even with a temporary inflow of insurance money, I doubt the long-term result will be a net gain for the region.

[RottedOak]

You are correct that insurance companies will pull most of their payout funds from other areas (definitely a net loss globally). However, not all losses are insured, and not all insurance funds will be spent locally. Some of the insured will take the money and leave. And the insurers will make up for their payouts with rate increases that will drain money from the area. Nor is the economic disruption limited to “this week.” All of the effort that goes into rebuilding over the next several years — the arguing with insurance companies, the permit processes, hiring contractors, etc. — is a diversion for the homeowners. Some of that (all the overhead for dealing with insurers and government) is pure loss with no net production. If you focus narrowly enough, you can find “winners,” but even with a temporary inflow of insurance money, I doubt the long-term result will be a net gain for the region.

[RottedOak]

You are correct that insurance companies will pull most of their payout funds from other areas (definitely a net loss globally). However, not all losses are insured, and not all insurance funds will be spent locally. Some of the insured will take the money and leave. And the insurers will make up for their payouts with rate increases that will drain money from the area. Nor is the economic disruption limited to “this week.” All of the effort that goes into rebuilding over the next several years — the arguing with insurance companies, the permit processes, hiring contractors, etc. — is a diversion for the homeowners. Some of that (all the overhead for dealing with insurers and government) is pure loss with no net production. If you focus narrowly enough, you can find “winners,” but even with a temporary inflow of insurance money, I doubt the long-term result will be a net gain for the region.

[RottedOak]

The key, of course, is to take these things if you have time to pack up and evacuate in an orderly fashion. Hopefully anyone who is following the story closely will be able to do that. On the other hand, if firemen show up at your door and say to get out now, and you haven’t prepared your belongings — leave them! No photos are as precious as your life. But if you have time and are anywhere that even might be asked to evacuate, f_l_u is right: pack some things up in advance, so you can grab them and go if and when the time comes.

Remember, ‘P’ stands for priorities:

1) people
2) pets
3) papers (important ones that you may need, such as id, deeds and insurance docs, not your Playboy collection)
4) precious keepsakes (if they are irreplaceable, small and can stand being stuffed into your trunk or a travel bag)

If it isn’t on that list, don’t futz around with it. That jewelry you like can be replaced with another pieces that you will love just as much. Ditto for any “mementos” piled in your garage. Etc.

[RottedOak]

The key, of course, is to take these things if you have time to pack up and evacuate in an orderly fashion. Hopefully anyone who is following the story closely will be able to do that. On the other hand, if firemen show up at your door and say to get out now, and you haven’t prepared your belongings — leave them! No photos are as precious as your life. But if you have time and are anywhere that even might be asked to evacuate, f_l_u is right: pack some things up in advance, so you can grab them and go if and when the time comes.

Remember, ‘P’ stands for priorities:

1) people
2) pets
3) papers (important ones that you may need, such as id, deeds and insurance docs, not your Playboy collection)
4) precious keepsakes (if they are irreplaceable, small and can stand being stuffed into your trunk or a travel bag)

If it isn’t on that list, don’t futz around with it. That jewelry you like can be replaced with another pieces that you will love just as much. Ditto for any “mementos” piled in your garage. Etc.

[RottedOak]

The key, of course, is to take these things if you have time to pack up and evacuate in an orderly fashion. Hopefully anyone who is following the story closely will be able to do that. On the other hand, if firemen show up at your door and say to get out now, and you haven’t prepared your belongings — leave them! No photos are as precious as your life. But if you have time and are anywhere that even might be asked to evacuate, f_l_u is right: pack some things up in advance, so you can grab them and go if and when the time comes.

Remember, ‘P’ stands for priorities:

1) people
2) pets
3) papers (important ones that you may need, such as id, deeds and insurance docs, not your Playboy collection)
4) precious keepsakes (if they are irreplaceable, small and can stand being stuffed into your trunk or a travel bag)

If it isn’t on that list, don’t futz around with it. That jewelry you like can be replaced with another pieces that you will love just as much. Ditto for any “mementos” piled in your garage. Etc.

[RottedOak]

I haven’t been by the area in several months, but I assume there is still a large gay bar across the street? Go to your balcony and pick someone from the closing time meat market. There’s a selling point they don’t mention on their website.

[RottedOak]

One problem is that many sellers these days have loans for more than what the property would sell for, or have loan terms you wouldn’t want to take over. These won’t be good candidates. At the opposite extreme, a seller with substantial equity is going to want a significant cash payment that most buyers won’t have. And REOs can’t be purchased this way. So buyers would have to do quite a bit of searching to find a deal that would work as a “subject to” purchase.

The good news is that if you have the time to sift through the listings, inventory is so high and sits so long that you probably could find some opportunities where this type of approach would make sense. Assuming of course that you can find a deal where it makes sense to buy in the first place!

[RottedOak]

My, my, rankandfile, that’s a lot of venom towards me for simply pointing out the fact that trying to use these arguments in a tax case will not work and will result in additional penalties. I didn’t call anyone serfs or kooks or silly. Others have already pointed to the very detailed “Tax Protester FAQ” at http://evans-legal.com/dan/tpfaq.html, which addresses all of the specific arguments you bring up, so I won’t repeat most of it. I will point out the rather clear language of the 16th Amendment itself:

“The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

Note the words “from whatever source derived” (no exception for labor and wages). The reason the courts ruled that the amendment didn’t create any new taxing power is because they held that Congress always had the power to tax incomes — the issue clarified in the amendment is that this could be done without regard to “apportionment among the several States.”

I’d prefer that the income tax be abolished, but that doesn’t mean I will swallow every argument someone tries to make against it. The arguments made in this thread (and elsewhere) claiming that the US Constitution doesn’t allow an income tax, etc., are entirely unconvincing to me.

[RottedOak]

My, my, rankandfile, that’s a lot of venom towards me for simply pointing out the fact that trying to use these arguments in a tax case will not work and will result in additional penalties. I didn’t call anyone serfs or kooks or silly. Others have already pointed to the very detailed “Tax Protester FAQ” at http://evans-legal.com/dan/tpfaq.html, which addresses all of the specific arguments you bring up, so I won’t repeat most of it. I will point out the rather clear language of the 16th Amendment itself:

“The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

Note the words “from whatever source derived” (no exception for labor and wages). The reason the courts ruled that the amendment didn’t create any new taxing power is because they held that Congress always had the power to tax incomes — the issue clarified in the amendment is that this could be done without regard to “apportionment among the several States.”

I’d prefer that the income tax be abolished, but that doesn’t mean I will swallow every argument someone tries to make against it. The arguments made in this thread (and elsewhere) claiming that the US Constitution doesn’t allow an income tax, etc., are entirely unconvincing to me.

[RottedOak]

Rustico, you are absolutely right about size envy. I think there is far too much emphasis on the size of man’s “entertainment center.” Who cares how big it is, as long as it fits comfortably in your nook? Also, contrary to popular belief, the largest sized entertainment centers are not necessarily black. You can get an large one with wood in a variety of different finishes.

[RottedOak]

Rustico, you are absolutely right about size envy. I think there is far too much emphasis on the size of man’s “entertainment center.” Who cares how big it is, as long as it fits comfortably in your nook? Also, contrary to popular belief, the largest sized entertainment centers are not necessarily black. You can get an large one with wood in a variety of different finishes.

[RottedOak]

Please note that if you try to use any of the typical tax protest arguments (no law requires filing, etc.) as a basis for failure to file, the IRS will assess a substantial additional penalty for taking a “frivolous position” against filing. These arguments get traction on discussion boards and in ordinary conversation because most people don’t have the detailed knowledge of constitutional and statute law to refute them, but in court they will just make the judge mad at you for wasting the court’s time.

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