yo mama Posted August 6, 2009 Share Posted August 6, 2009 Actually, I'm under the impression that it's pretty easy to not pay them much of anything if you have a good account and lawyer. It is true that thoughtful planning can result in greater tax-efficiency, but that's usually at the expense of a loss of control and/or flexibility in connection with the assets at issue. But make no mistake: the IRS isn't above extorting taxes that aren't owed under the law, but that are less than the legal fees necessary to prove it. Happens all the time. Quote Link to comment Share on other sites More sharing options...
Sugar Magnolia Posted August 6, 2009 Share Posted August 6, 2009 Mmmm . . . rich people are delicious! Like a combination of caviar and Kobe beef . . . . I wash them down with the blood of non-believers that tastes remarkably like Cristal . . . Thank god I'm not rich anymore We retired a little sooner than maybe we should have-- so not so much in the rich category anymore. Quote Link to comment Share on other sites More sharing options...
Clubfoothead Posted August 6, 2009 Share Posted August 6, 2009 Are you disputing that the FED's historical manipulation of money supply has nothing to do with the current crisis? Or are you saying the government stimulus programs will not delay the current crisis? Or both? I'm also curious to know if you think the worst is over and if you think we are in a recession or depression or neither. Did the current crisis impact China's managed economy? Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 6, 2009 Share Posted August 6, 2009 Did the current crisis impact China's managed economy? I know nothing about China or their economy. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted August 6, 2009 Share Posted August 6, 2009 I know nothing about China or their economy. Those people have funny eyes. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted August 6, 2009 Share Posted August 6, 2009 After 8 years of a laissez-faire approach to the economy and big business and a trillion dollar bailout, now I'm supposed to believe government involvement is the problem? Laughable. What's laughable is any educated person really believing the US economy is anything approaching laissez-faire over the last 90 years. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 6, 2009 Share Posted August 6, 2009 I know nothing about China or their economy. the only thing I know about them lately is that they recently spent 80B in gold and to make such a bullish investment you'd have to assume that there would be massive inflation in not just the global reserve currency....but pretty much worldwide.... Quote Link to comment Share on other sites More sharing options...
wiegie Posted August 6, 2009 Share Posted August 6, 2009 What's laughable is any educated person really believing the US economy is anything approaching laissez-faire over the last 90 years. and those last 90 years have really sucked ass, haven't they? Quote Link to comment Share on other sites More sharing options...
westvirginia Posted August 6, 2009 Share Posted August 6, 2009 and those last 90 years have really sucked ass, haven't they? Well, three depressions, two world wars, Depends on how you look at it, I guess. Quote Link to comment Share on other sites More sharing options...
wiegie Posted August 6, 2009 Share Posted August 6, 2009 Well, three depressions, two world wars, Depends on how you look at it, I guess. Feel free to pick any other 90-year period in any other society in the course of human history in which you would have rather lived. Please let us know what it is. Quote Link to comment Share on other sites More sharing options...
TimC Posted August 6, 2009 Share Posted August 6, 2009 I'll take the last 90 years instead of the next 90 years.... About half of U.S. mortgages seen underwater by 2011 Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 6, 2009 Share Posted August 6, 2009 I'll take the last 90 years instead of the next 90 years.... About half of U.S. mortgages seen underwater by 2011 I was about to say that.... the next 90 years look to be what the last 90 were not... Quote Link to comment Share on other sites More sharing options...
westvirginia Posted August 6, 2009 Share Posted August 6, 2009 Feel free to pick any other 90-year period in any other society in the course of human history in which you would have rather lived. Please let us know what it is. I don't know why all the animosity - all I'm saying is I'd rather 10 or 12 people responsible to no one but themselves NOT have the ability to expand and contract the entire economy. You say it works. I suppose, and steroids work for athletes and Adderall works for energy-ridden kids. But is it wise? We're seeing right now some of the costs of living far beyond means and inflating the values of everything, much like they did in 1929. And since you know so much, wiegie, how much of the expansion over the last century is due to technological advancements and things IN SPITE OF fedgov, and how much is because of fedgov? Quote Link to comment Share on other sites More sharing options...
westvirginia Posted August 6, 2009 Share Posted August 6, 2009 I'll take the last 90 years instead of the next 90 years.... About half of U.S. mortgages seen underwater by 2011 But hey - the obamessiah passed the stimulus, so, we're in a period of recovery, right? Quote Link to comment Share on other sites More sharing options...
whomper Posted August 6, 2009 Share Posted August 6, 2009 We should play Acey Duecy against China for everything we owe them Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 6, 2009 Share Posted August 6, 2009 But hey - the obamessiah passed the stimulus, so, we're in a period of recovery, right? recovery = 2nd stage of the recession Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 6, 2009 Share Posted August 6, 2009 and those last 90 years have really sucked ass, haven't they? Any reason why you're avoiding my questions to you? Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 6, 2009 Share Posted August 6, 2009 We should play Acey Duecy against China for everything we owe them maaan....that's too risky ahaha Quote Link to comment Share on other sites More sharing options...
whomper Posted August 6, 2009 Share Posted August 6, 2009 I have a theory on life that all should embrace. No matter what the situation is this will make it seem brighter. Just add the number 2 to it and the words electric Bugaloo Ex The Recession The Recession 2 Electric Bugaloo Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 6, 2009 Share Posted August 6, 2009 recovery = 2nd stage of the recession depression Fixed. Oh, and China buying all that gold confirms in my mind that gold and silver are heading down. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 6, 2009 Share Posted August 6, 2009 Fixed. Oh, and China buying all that gold confirms in my mind that gold and silver are heading down. you should have crossed out the "2nd stage" part as well and ever since China bought all that gold, it has gone up pretty well....why do you think that they will go down? Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 6, 2009 Share Posted August 6, 2009 I have a theory on life that all should embrace. No matter what the situation is this will make it seem brighter. Just add the number 2 to it and the words electric Bugaloo Ex The Recession The Recession 2 Electric Bugaloo yeah, there is no way you can say that with a straight face....it's just impossible... while the word "recession " = Quote Link to comment Share on other sites More sharing options...
wiegie Posted August 6, 2009 Share Posted August 6, 2009 Are you disputing that the FED's historical manipulation of money supply has nothing to do with the current crisis? Or are you saying the government stimulus programs will not delay the current crisis? Or both? I'm also curious to know if you think the worst is over and if you think we are in a recession or depression or neither. Alan Greenspan f'd up in the early part of this decade--no doubt about it. (However, this is NOT the same as saying that the economy would be better without the FED.) (To put it in sports terms, if Brian Urlacher badly misses a tackle causing the Bears to lose a game, you can blame him while at the same time not argue that the Bears would be better without him.) I don't know what mean about the government stimulus programs delaying the current crisis. If you are asking whether I think the plans are prolonging the crisis, the answer is "no". If you are asking if the economy will be paying for these current programs for some time in the future, then the answer is yes. (To use a medical analogy, if you need emergency surgery, it probably is a good idea to have the surgery even if you will be paying medical bills for a long time into the future.) We are certainly in a recession, but there is no clear definition of depression, so I am pretty much unable to objectively say whether we are in one or not. I am hopeful that the worst is over (allthough I think the unemployment rate is going to get worse for at least another few months. I also think the recovery is shaky because the financial system is still a mess and that things could get quite a bit worse if things don't stabilize there. Additionally, I think the recovery is going to be quite slow and not all that robust). On a final thought, I think that things would have been much worse if the fed and government didn't take any action and just waited for the economy to fix itself. Quote Link to comment Share on other sites More sharing options...
wiegie Posted August 6, 2009 Share Posted August 6, 2009 (And I am out for a while because I have a research project that I need to get done by tomorrow and I have to stop procrastinating.) Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 6, 2009 Share Posted August 6, 2009 (And I am out for a while because I have no answer for brent.) Quote Link to comment Share on other sites More sharing options...
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