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Here is your open thread for Monday April 16th, 2012. You may post random links and off-topic discussions here. Also, if you have an idea or a topic you’d like to see covered in an article, please make it known.
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By pfft @ 46:
I’m confused. Are you saying President Obama is a socialist? ;-)
From the SOTUA:
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Remember the Heydays, When Homelessness and Begging Were Convined to Just Seattle’s Pike Street Area
Now its spreading everywhere in the Seattle area. Irrespective the stand on homeless shelters is “not in my neighborhood”.
Article in part:
“…”This is an issue, a problem that is not going to leave Kent anytime soon,” said Terry Pallas, shelter director for Union Gospel Mission. “As a matter of fact, if anything, we … project that it is just going to get worse.”…”
http://www.kentreporter.com/news/147071475.html
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By pfft @ 46:
First, it’s a deduction, not a credit. Second, in any case that would have absolutely no impact on whether or note that statement is correct.
Before you call something out as wrong, you should at least understand it.
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By pfft @ 46:
Not bizarre at all. You just don’t understand. Here’s a clue. Just because it’s something President Obama supports, that doesn’t mean it’s a good idea. The people currently out of work because President Obama has been repeatedly pushing this idea hopefully understand.
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RE: Kary L. Krismer @ 1 –
Yes Kary
There’s hogwash on both sides of that political fence. The Republican “job providers” with tax breaks just insource into America on the cheap or outsource our jobs away. The deficit with no end mentality makes as much common sense has taking out a 2nd mortgage to avoid forclosure.
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Cheney, with new body part in tow, spoke out this week, calling Obama’s presidency an ‘unmitigated disaster’. After all, he does have firsthand knowledge of unmitigated disasters…no?
On a happier note, the NAR, MBA & ABA are fighting the CFPB tooth & nail…so as to continue making zero & negative amortizing loans. Keep up the good work boys & girls.
http://online.wsj.com/article/SB10001424052702304299304577346493034232660.html?mod=WSJ_Banking_leftHeadlines
It was great to listen to David Walker on Squawk Box this am; too bad no one will heed his warnings.
That is all.
Have a nice day.
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I know pfft doesn’t read stale weekday threads, so just in case Natalia doesn’t either . . ..
By Kary L. Krismer @ 52:
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RE: Kary L. Krismer @ 4 –
“Just because it’s something President Obama supports, that doesn’t mean it’s a good idea”
Whoa! Expect a knock on your door late tonight. The back door. ;-)
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By Scotsman @ 8:
Where have you been Scotsman? Knocking is so 1970s . . . “No-knock” is the standard these days, and you’ll get in big trouble for shooting back at them while they are breaking into your home (and if they kill your dog in the process, well, too bad). Also, make sure to have giant house numbers out front, as they have a really bad track record when it comes to accidently getting the wrong address . . . (sorry to pfft but no links today, you can do your own searching to verify all of this)
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David Stockman on the Bill Maher show. He is brilliant. And spot on.
28% is only 2% away from the Buffet Rule.
Obama – the hip Ronald Reagan.
Tax Reform Act of 1986
reduced individual income tax rates (top rate 28%) and repealed capital gains exclusion
repealed investment tax credit
lowered corporation income tax rates; top rate lowered to 34 percent
increased personal exemption amount from $1,080 to $2,000
set uniform capitalization rules for manufacturing or construction
increased standard deduction from $3,670 to $5,000 (joints)
limited deduction for nonbusiness interest
repealed second earner deduction
limited passive losses
established income limits on use of IRAs for taxpayers covered by pensions
revised corporate minimum tax
repealed sales tax deduction for individuals
set 2-percent floor on miscellaneous itemized deductions
http://www.econdataus.com/taxcuts.html
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RE: Kary L. Krismer @ 7 –
Tatiana and I do read the posts almost everyday Kary. We can’t seem to get any sleep drinking all of this coffee!
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The taxes are done and e-filed!
We had to pay almost $500, so we got to keep that money in our own bank account for that much longer and earn interest in the amount of, um, er, well, let’s just say that the tax software would have rounded it down to $0. After two consecutive late-niters muttering not-very-nice things at the computer, I’m ready to sign up for the flat tax – anybody know how I can enroll?
The good news is (or is it bad, it depends upon how you look at it), my annual property tax amount will exceed my mortgage interest this coming year. I know that it’s really cheap to rent funds right now, but I am looking forward to only having to rent my house from King County and not also from the bank. Sadly, the way things are going, the county taxes will probably reach my entire PITI (for my meager house, anyways) in my lifetime.
Looking at my return, my wife and I combined contributed almost THREE TIMES as much (in actual dollars) to charities as VP Biden did, and we make wayyyyy less than he does! It just cracks me up, these people who love giving OTHER people’s $ away but fail to do so themselves. I seem to recall that Al Gore had a similarly dismal giving level while he was the VP and was making his returns public. Put up or shut up, as my mom used to say . . .
According to this article, Biden and his wife have been tightwads for years (and yes, Cheney was also percentage-wise, although in total funds he still gave a lot more than the Bidens):
http://www.usatoday.com/news/politics/election2008/2008-09-12-biden-financial_N.htm
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RE: redmondjp @ 12 –
Obama Was a 1% Charity Giver BTW [to That Wild-eyed Church He Used to Go to Regularly]
Before he got elected in 2008.
I know what you mean, and its not just money…..I volunteer my time and efforts for good causes for about half my income….hades, just giving a poor family a bag of groceries now-a-days is better than letting these charity organizations skim your contributions for fat management fees too.
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McKenna wanders down to Clark county in yet another poorly written article.
http://www.columbian.com/news/2012/apr/16/mckenna-highlights-help-for-homeowners/
“Like thousands of Clark County homeowners who received a notice of mortgage default in 2009, Jim Fleming got into trouble after his income as a real estate broker dropped dramatically.
[snip]
“You’re so upset, you can’t think clearly,” said Fleming, a father of four who has lived in his ranch-style home for 21 years.”
Interesting – loan mod on a 21 year loan? I wonder if the reporter even picked up on that.
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By redmondjp @ 12:
And don’t forget the Dear Leader, The Great One, O-Man himself. Cheapskate first class until he started running for the Senate, then he had to make some PR donations.
That’s par for the course for “liberals”. Their brains are wired to think that the Government will take care of it so they don’t have to personally do anything. Hence you always see whiny lefties demanding higher taxes, more regulations, more “compassion” from the Govt and yet rarely lifting a finger themselves either through money or time.
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RE: ChrisM @ 14 –
5 will get you 10 it was a refied HELOC fueled spending binge on cars, vacations and the latest iCrap.
About when I started reading here (~year or so ago ????) there was a place about 1/2 mile away up for short sale. Bought about the same time as I did (early / mid 90′s) for within 10k. Short sale price was ~1.5x original purchase price. Makes you go hmmmmmmmm. Takes about 3 seconds to figure out what they did – pull the equity and blow it.
Jim Flemming: It’s NOT about the income being reduced. It’s about your spending that went haywire. Look in the mirror and you’ll see the problem.
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When it comes to giving to charity, study after study shows that the low-income tiers give (proportionately) more than others.
http://www.mcclatchydc.com/2009/05/19/68456/americas-poor-are-its-most-generous.html
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RE: redmondjp @ 12 – Thank goodness for tax software! Maybe someday we can muster the collective political will to simplify the U.S. tax structure, but I’m not holding my breath. My total tax rate for 2011: 17.7%. The only part of the number that is soft is the WA state sales tax. I used the estimate from IRS tables / tax software, which seemed a little on the low side but without verifying receipts I have no way to know for sure.
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By aerojd @ 18:
Amen to that! I used the state tax estimate from the software/tables as well, and manually added one “big ticket” sales tax item on a used pickup that I purchased (always save those receipts from the title transfer!). If one were to manually enter the receipt amounts on a weekly or monthly basis, it might be doable to get an actual value.
You are correct about the tax code not likely changing; the thousands of those involved in the tax “business” today have a vested interest (not to mention lobbyists) in making sure that things stay complicated. That’s the reality and I wish I could convince my “fair-tax” evangelizing friends (who I agree with in principle) of that.
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By Kary L. Krismer @ 3:
comparing Romney’s federal taxes to a regular person’s is not fair because 1/2 of taxpayers don’t earn enough to qualifty for Federal taxes. romney made $20 million last year and paid under 15%. state taxes are regressive and therefore a higher burden for the poor and middle class.
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By Kary L. Krismer @ 4:
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By Blurtman @ 10:
even better in video.
http://www.youtube.com/watch?v=rnpG6qCltCw
http://www.youtube.com/watch?v=KTBt5APga7Q
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By No Name Guy @ 15:
Obama is raising taxes on himself so you’re wrong…
Buffett is for raising taxes on himself as are a lot of very successful people. Bill Gates is on that list too.
“Their brains are wired to think that the Government will take care of it so they don’t have to personally do anything.”
the government is us and so therefore we are the government. It’s called a community coming together and doing together what we couldn’t do alone. it’s the basis of a functioning society really. I guess you don’t know that though.
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By pfft @ 21:
Unfortunately President Obama doesn’t understand business, and that they make decisions based on what they think the future might be. When you have the President repeatedly pushing for tax increases, that affects what business does. President Obama is in many ways his own worst enemy when it comes to the economy.
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