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Old 10-12-2017, 09:50 AM
 
Location: Forests of Maine
30,685 posts, read 49,462,974 times
Reputation: 19134

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Quote:
Originally Posted by FiveLoaves View Post
You're kidding, right ?? Those two are not even in the bottom Quartile. You have to wade thru all the dreck that is Buchanon, Johnson, Pierce and Millard Fillmore before you get to your two nominees.
Those are the two names that I have most often heard nominated for the honor.

 
Old 10-12-2017, 10:24 AM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Five Loaves-told ya. Buy stock is the real way. Shareholders before workers will see the money
 
Old 10-12-2017, 10:36 AM
 
Location: Charleston, SC
1,362 posts, read 767,627 times
Reputation: 2428
Mr. T--
Ha-Ha. My Wife is the original Buy & Hold Blue Chip Investor. She's got that part of it covered.

At this point, I'm enjoying the Creative Writing aspect of all this.....some of my recent long posts are pretty darn good, if I do say so myself. I think I'll save them in a Word file, and copy/paste them when SportyMisty or Tall Traveler regurgitate their take on things.

Meanwhile, the Tweeter-in-Chief is trying to figure out what the 25th Amendment is all about.
 
Old 10-12-2017, 12:07 PM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by FiveLoaves View Post
Mr. T--
Ha-Ha. My Wife is the original Buy & Hold Blue Chip Investor. She's got that part of it covered.

At this point, I'm enjoying the Creative Writing aspect of all this.....some of my recent long posts are pretty darn good, if I do say so myself. I think I'll save them in a Word file, and copy/paste them when SportyMisty or Tall Traveler regurgitate their take on things.

Meanwhile, the Tweeter-in-Chief is trying to figure out what the 25th Amendment is all about.
And no one will tell him what it is
 
Old 10-12-2017, 07:20 PM
 
Location: Baltimore, MD
3,745 posts, read 4,219,341 times
Reputation: 6866
Quote:
Originally Posted by SportyandMisty View Post
Please name 5 loopholes in the tax code. Seriously. Name 5.
Quote:
Originally Posted by cb2008 View Post
The tax code does not name them "loopholes". That is for the smart corporate attorneys - who actually help the GOP congressmen to write the tax laws that they present, even the very language - to manipulate the tax code in order to not pay their fair share. They work in tandem. The Corporations write the laws, lobby the politicians who help pass those laws. They too work in tandem.

One example - the so called carried interest tax for private equity companies.



It is performance fee. shouild ordinarily be taxed as ordinary income. it has magically turned into "carried intrest" and is taxed at capital gains rate of 15%. Like if you received a bonus, instead of regular tax, you will only pay 15% . How did that tax rate come about? The corporations lobbied and got it written that way. A legal loophole.

You can multiply the number of such favorable laws written by corporations for themselves. If you an ordinary scmuck working a day job you would would never know about it. And if you are a Trumpy you will BELIEVE it is is GOD's will that tax laws should be written this way for the poor corps.
One of Trump's minions, Treasury Secretary Mnuchin, stated that the deduction for state and local taxes was a major loophole that needed to be closed. He is a multimillionaire. Trump is a multimillionaire. It is presumed that multimillionaires are more than familiar with loopholes. Therefore it must be true.
 
Old 10-13-2017, 10:27 AM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by lenora View Post
One of Trump's minions, Treasury Secretary Mnuchin, stated that the deduction for state and local taxes was a major loophole that needed to be closed. He is a multimillionaire. Trump is a multimillionaire. It is presumed that multimillionaires are more than familiar with loopholes. Therefore it must be true.
There is supposedly already a compromise in the works for the state and local tax deduction.

http://www.politico.com/story/2017/1...promise-243731

Quote:
House Republicans are moving closer to keeping some form of the state and local tax deduction, and President Donald Trump isn’t standing in the way, signaling a possible breakthrough in an early spat over tax reform.
Several lawmakers who huddled with GOP leaders Thursday indicated that the talks were going well.

Recent discussions have involved capping the deduction on those with incomes somewhere between $200,000 to $400,000, meaning taxpayers earning less than that could still capture the benefit, according to a source with close ties to the Trump administration. White House officials are tangentially involved but letting the tax committees on Capitol Hill take the lead, the source said.
The solution could also include gradually phasing out the deduction based on income level.
 
Old 10-13-2017, 12:57 PM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
https://www.bloomberg.com/news/artic...l-senator-says

Quote:
The treatment of state and local tax deductions will be the “largest hang up” for Republican efforts to revamp the individual side of the tax code, Senator Tim Scott of South Carolina said Friday.
Quote:
Scott, a member of the tax-writing Senate Finance Committee, said he expects the panel’s tax bill will repeal the so-called SALT deduction entirely. But the House -- where roughly two dozen Republican members want to preserve the break in some form -- will likely include an income cap on it, “in the $200,000 to $250,000 range,” he said.

House Republican leaders met Thursday to discuss a possible accommodation for those members, who represent districts in high-tax states, including New York. Representative Peter King of Long Island and others have suggested phasing the deduction out above adjusted gross incomes of $400,000.

“Watching the debate today in the House, it appears they’re going to land somewhere in the middle of that,” Scott said.*His remarks came*during a panel discussion at a policy meeting for conservative donors organized by the Koch political network at the St. Regis Hotel in New York.
 
Old 10-13-2017, 03:03 PM
 
Location: Baltimore, MD
3,745 posts, read 4,219,341 times
Reputation: 6866
Quote:
Originally Posted by TuborgP View Post
There is supposedly already a compromise in the works for the state and local tax deduction.

GOP lawmakers may be close to compromise on state, local tax deduction - POLITICO
I assume my sarcasm didn't come through. There is no way this particular deduction could be identified as a loop hole. Unless Mnuchin purposefully used the term to appeal to the Administration's supporters, that was just plain weird.
 
Old 10-13-2017, 03:14 PM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by lenora View Post
I assume my sarcasm didn't come through. There is no way this particular deduction could be identified as a loop hole. Unless Mnuchin purposefully used the term to appeal to the Administration's supporters, that was just plain weird.
No I got your sarcasm. My thought has always been that I have deductions and others have loopholes. Not literally but that is my sarcasm. Mnuchin and Cohn are millionaires many times over with no political experience. Like those of us in this forum we know and speak from our world and what we consider normal.

As you note with Mnuchin at this point much of what he says is a tad on the non normal side. On the other hand like others in the administration their public comments are often for a audience of one.
 
Old 10-14-2017, 08:06 AM
 
Location: Manhattan
21,478 posts, read 28,370,231 times
Reputation: 9755
Quote:
Originally Posted by Submariner View Post
I thought that title was a tie between Woodrow Wilson and Jimmy Carter.

Don't forget Ulysses S. Grant.
The president most worth emulating has to be William Henry Harrison who had the good sense to croak 1 month after his inauguration.
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