Paul Gosar thinks that no one should have government provided health care, or that your neighbors should be the ones educating your children. Here’s the thing Paul, we keep cutting educational funding and schools have no choice but to cut physical education, music and art. So what do we get? Army recruits too fat to survive boot camp. Have you noticed that most terrorists who live in caves and train in the desert are thin? We can’t keep up. Our primary and secondary educational systems are failing our kids and in the long run, our fat stupid children won’t be able to stave off the healthier, better educated sand eating enemies.
Gosar is a threat to national security. He and his “cost” slashing buddies want to let the national highway system and infrastructure fall into disrepair. The thing is, his deep pocketed capitalist corporate friends need the highways to continue moving their product to market. And the country needs the highways to move military equipment. The original push for the national highway system was to compete with Germany and win the second World War. Are the highways any less important today?
We need government support for highways, for the smart grid, to bring energy independence to the US. We need our hundred year old water mains replaced and repaired. Does Gosar believe that private companies are willing to replace government investment in our aging infrastructure? Do you?
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I sold FIZZ today @ 13.50. I had adjusted my sale price since the recent chart showed a trading channel up to 13.50. The profit is not nearly as “good” as it would be at $15.00, but I went for a quicker turn versus a higher single return. As I commented before, I could be looking for a few more turns.
Net profit: $29.99, 2.29%. Annual rate of return (which assumes that one could continue at this rate) 150% – holding period was 9 days.
Disclaimer: This is not a recommendation for this stock one way or the other, just what I’m doing. I’m not selling stocks, you need your own broker.
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In This is What You Get I wrote
The so-called rich who supposedly created jobs, stuck their money in the stock market and reaped a 15% tax rate instead of starting businesses which would have been taxed at over 30% – higher if you count all the unemployment taxes, workers’ compensation, etc. See how that works? 15% versus over 30%, where would you put your money if you had it, start a business with all of the headaches or just put it into IBM stock?
which caused my mind to have a flash of brilliance – even if I do say so myself.
Here’s my tax plan: eliminate the reduced long term holding rate. See how easy that is? Of course you can’t just toss it right out the window, there has to be some kind of balance. Here’s my balance and my reasoning. Let’s use IBM stock from the quote as an example. If investors paid the same on net profits from businesses as they do for net profits on long term stock sales the negative tax consequence of hiring someone versus buying IBM stock goes away.
There has to be an exception of course and I think even Warren Buffett will like my idea. Drum roll please… allow lower tax rates on new stock issues or new company investments. If there are too many trees in this forest, let’s look around. If you buy 100 shares of IBM in the stock market you are not buying them from IBM and IBM gets no direct benefit from your purchase. In fact IBM may not have gotten any direct benefit from your purchase in years or decades1 when the shares were first issued. Let people who are willing to invest in startups or in new stock issues get a break similar to the small business stock break that true engines of the economy invest in. Let the stodgy investors have their IBM but give them no break for buying their shares from another shareholder.
So the following people would be on the same footing – tax-wise at least:
- Small business owners who work in their business and hire people
- Hedge fund investors
- Old money families, living off the dividends and capital gains created by others
- People receiving payments from their Traditional IRAs or other retirement plan deducted from taxable income at some point in the past2
I would leave the special treatment on government bonds alone. Ditto (whoops, Limpbaugh may try to sue me for using that word) the home sale exclusion. I say if you want reduced taxes from investments, loaning money to the government benefits everyone. If the rates on other investments rise, big money is more likely to seek non-taxed returns theoretically reducing the interest rate required to be paid due to demand.
Now, why did I write that Warren Buffett would like this idea? First, he’s stated that he doesn’t really think that it’s fair that he pays a lower rate than his administrative assistant. Second, he has infused GE (and others) with direct capital (taking out warrants and preferred stock) and would under these rules still benefit from lower tax rates since he has purchased his stock directly from the company.
So is it brilliant or what? I wonder if Obama or McCain read this blog?
- Of course the value of the shares boosts IBM’s ability to borrow money and issue bonds which admittedly does benefit IBM
- Who get screwed under the current system because their stocks and bonds and dividends are treated the same tax-wise as wages. They would still be treated as wages, but everyone else in the stock and bond boat would be taxed the same.
I was going to run all the calculations on owning IBM stock, but the sun is getting low in the west and I’ve real work to do.
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I posted that I was looking for National Beverage to hit 14.00. I’m looking for it to go over 15.00 with the sell order in at $15.05. That’s closer to a $200.00 move.
Same disclaimers apply. You have to find your own broker.
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When you vote repugnican you get people like Paul Gosar. Gosar wants to cut federal funds for education. According to the AZ Daily Sun, when asked about teacher pay (which is pretty miserable) and text books,
Gosar said the community at large and businesses should step in to teach students somewhat, as an answer on how to improve education overall.
Well that will fix everything. Why don’t we just close all of the schools and fire all of the teachers and let whichever unemployed parents there are out there teach our kids.
And he would vote to extend the Bush tax cuts (which is moot at the moment)
One student raised the Bush-era tax cuts for the wealthy, and asked whether they should be extended.
Gosar said they should, to prime spending, help small businesses, and as a matter of fairness for those who had the ingenuity or put the labor into making money.
Tax policy to influence public policy? I thought the government wasn’t into that. Regardless, the Bush era tax cuts did nothing to promote employment. Job growth during Bush’s rein was flaccid. The so-called rich who supposedly created jobs, stuck their money in the stock market and reaped a 15% tax rate instead of starting businesses which would have been taxed at over 30% – higher if you count all the unemployment taxes, workers’ compensation, etc. See how that works? 15% versus over 30%, where would you put your money if you had it, start a business with all of the headaches or just put it into IBM stock?
Gosar goes on,
He pointed to what he called burdensome requirements.
“If I do business with any one of you over $600, I have to tell the government about it. I have to fill this form out. And that’s not right. That’s onerous,” he said.
Hmm… if I have a business and I spend a certain amount of money ($600) then I have to tell the government who I spent the money with? Oh, boo-hoo. It’s called a receipt. I’m simplifying, but the 1099 is essentially a receipt.
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Just for kicks here’s what I own today: 225 shares of ANH bought at 6.80 (ex-dividend date on Dec 23 for .22 x 225 = 49.50) I’m looking for the price to pop above 7.35 for .55 share profit (minus commissions). 100 shares FIZZ @ 13.00. Looking for the price to hit 14.00.
Also looking to buy ELNK 200 @ 8.50 and sell @ 9.05 – day order (renewed from yesterday, if it climbs up I’ll be looking for something else)
I’m not recommending these stocks. I don’t sell stocks and I’m no expert. I’m baring (periodically) these trades so you can see what I do. On these three stocks, I’ll post when I sell with profit % and a calculated APR
The Catholic church should get out of the business of helping people and providing potentially life saving health care. The reason, if you have not heard the story, St. Josephs hospital in Phoenix saves a woman’s life by terminating her pregnancy. Now the Catholic church thinks it knows best about health care and is threatening to remove its support (and funding). The catholic church that hunted people as witches, perpetrated the inquisition, baptized South American babies so they would go to heaven moments later when their heads were bashed in with the back of an ax in the hands of their baptizers and covered up sexual abuse of children for decades wants to decide if a woman lives or dies by prohibiting a legal termination procedure.
In an episode of “House” a young girl has a medical problem that causes all manner of medical distress. There is nothing the doctors can do until they realize the the girl is pregnant – and terminating the pregnancy “cures” her. The girl does not want her parents to know that she was pregnant nor that she had a termination – abortion. Dr House tells her parents that she had a “growth” that once removed resolved all of her symptoms. Although fictional, would Dr House have had to tell the same tale to an outside dictator if he were not in a research hospital but a church ruddered entity?
Until there is proof – real proof – that the church and religion are able to adequately care for people in a medical setting then they should step aside. By adequate I mean through nothing other than prayer save the life of someone who is bleeding out. Through nothing other than prayer – regrow a missing limb. Through nothing other than prayer save a life, cure cancer. It can’t be done or would already have been, over and over. Until that day let the professionals do their job without consulting Matthew, Mark, Luke and John.
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If you are one of the long term unemployed, then you might be losing your unemployment check. The Repugnicans are blocking anything and everything so they can get continued tax breaks for themselves and their well to do friends. Bill Clinton keeps his giant tax break and you get to shop the food bank. Time to get in line behind William Gates Sr. and Warren Buffet and rework the tax code. Giving away government money to wealthy people does not create jobs – they got wealthy by getting more work out of their workers and pocketing the profits, not by giving raises or hiring more employees.
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I just put in the term “pot worms” over on the gardenweb forums. The Microsoft “sponsored links” returns (and I’m not giving free advertising to these yucks)
Ancient Secrets Neti Pot Sale Lowest Price Guaranteed, Buy Now!
Find Pot Online. Free Shipping $50 on 100,000 Items!
(OK – this one links to Target’s web site so I don’t think it’s what you think it is.)
Drug Addiction Treatment & Rehab. Free Information, Get Help Today!
How to Remove Worms. Worms Removal Instructions.
Links to an internet security site – wrong kind of worm.
This is the company that’s supposed to make the search “decisions” for you? Thanks, but no thanks.
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