How will you protect your assets under Obama?

[Care4all]

FYI-main street is usual 6 months behind wall street....

predicting 8-10% unemployment in 2009 on cnbc financial shows i've been glued to...we will see if it pans out, with all the financial boosts our gvt has been doing...

 

[dilloduck]

FYI-main street is usual 6 months behind wall street....

predicting 8-10% unemployment in 2009 on cnbc financial shows i've been glued to...we will see if it pans out, with all the financial boosts our gvt has been doing...

no worries--Obama can do it all !!

 

[Care4all]

no single person will heal this mess....it could take a decade or even a generation or two, to pay for it.

 

[dilloduck]

no single person will heal this mess....it could take a decade or even a generation or two, to pay for it.

It is quite possible to make it worse tho. I'm sure both candidates are capable of that.

 

[efice32]

So, (some of) you people think income is the only variable in this game, eh?

Does that mean that the guys who own those pesky contracting companies like Joe the plumber and Sparky the HVAC guy are lying to me when they whine about their costs going up and that I should be prepared for yet more price increases if Obama’s “ideas” like mandatory health insurance come to fruition? Why those pinheads.

How about my maintenance and make ready guys, what the hell am I gonna do about them. I may have to insure them if Robin Hood takes the helm. Ah hell, maybe I’ll just put them all on part time and double the crew size, you know, spread the wealth around and all that jazz. Come to think of it, a couple of those assholes have Obama bumper stickers. Hmmm…

I guess the insurance people are lying to me about escalating prices as well. I better rush right out and replace them.

The bottom line is: Small businesses like mine are getting hit pretty hard already. In an Obama administration with the majority of the legislature being democrat, we better start taking cover now.

Like I said in a previous post, our salaries are going to be the last thing to get hit, if at all, and we’ll do whatever it takes to ensure that we continue to net the income we’re accustomed to and I don't really care how much that costs somebody else.

By the way, the rental business has picked up nicely over the last year and a half.

You're conveniently forgetting the part about where you get a tax credit for creating a job in America. Hire someone else, give another person some income, get a tax credit. Win/win situation.

 

[PeterS]

So, my question is: What kind of tax shelter(s) would you be looking at if you were about to become a victim of Robin Hood and his merry men?

The same ones that I would be looking at under McCain. What does who is president have to do with you taking advantage of a tax shelter. Is it your contention that conservatives don't take advantage of tax shelters under conservative presidents?

 

[Skull Pilot]

FYI-main street is usual 6 months behind wall street....

predicting 8-10% unemployment in 2009 on cnbc financial shows i've been glued to...we will see if it pans out, with all the financial boosts our gvt has been doing...

But according to BHO we've all been "hurting" for years now.

 

[Kit Parker]

It astounds me that people here are making over $250K a year running businesses can find the time to post on boards like these.

When I was running a business that didn't even GROSS that amount of money I was too damned busy to waste time on something like this.

Nobama, you claim that your grossing more than $250K in PROFIT every year in your business?

Is that what you're claiming?

They can indeed make over $250K when they count their "disability" check..

 

[NOBama]

The same ones that I would be looking at under McCain. What does who is president have to do with you taking advantage of a tax shelter. Is it your contention that conservatives don't take advantage of tax shelters under conservative presidents?

Try reading and comprehending before hitting the reply button.

 

[Ravi]

Why is there air?

Do you have a personal income of over $250,000 a year? I can't imagine why you won't answer this question.

 

[editec]

And that 8 -10 % is just the employment numbers they're willing to give us.

Throw in the underemployed and I'm guessing the real number is in the mid teens.

 

[Care4all]

But according to BHO we've all been "hurting" for years now.

we have been, the average individual income for the middle class has GONE DOWN the last 8 years, the first time in our history where the middle class folks as a 'whole', didn't increase.

 

[glockmail]

But according to BHO we've all been "hurting" for years now.

Ooohh! You used his middle initial. Racist!!

 

[editec]

Do you have a personal income of over $250,000 a year? I can't imagine why you won't answer this question.

I think he already did.

He said that he and his wife have real estate holdings which gross over $250K in profits.

Now I used to (in the late 70s) manage 106 units in Boston's South End. They were in 4 rehabbed buildings.

They didn't make anything like that amount in profits, but of course, they were still paying for their rehabilitation construction, too.

Now if Nobama owns income properties free and clear then making $250 K a year is easily believable. Two people could easily manage properties and make that much money and even have enough time to waste in a place like this, too

Although it seems a fortune to me, $250 K a year isn't really a whole lot of money, anymore.

What's that put him, in the top 10% of incomes?

How he amassed that much property to begin with is, of course, the more interesting question, but if he owns enough income properties outright, I can easily believe that he's pulling down that kind of dough.

Here's what I suspect, though...somebody started out on third base and didn't actually bat his way to that exaulted fiscal situation alone.

Am I right Nobama?

Or are you goign to tell us that you started out with nothing and saved enough money from your dayjob to own enough real estate that it now pays you $250K a year in profits?

 

[NOBama]

Am I right Nobama?

No. You’re a presumptuous fool who doesn’t believe that anybody who’s been successful in life can participate on the internet.

 

[Ravi]

No. You’re a presumptuous fool who doesn’t believe that anybody who’s been successful in life can participate on the internet.

No one is saying you can't participate. But what's the point of lying about being a small business owner that takes a $250,000 personal income? It just makes your entire OP glaringly false.

Support McCain as you will, but why support him for false reasons?

 

[editec]

No. You’re a presumptuous fool who doesn’t believe that anybody who’s been successful in life can participate on the internet.

Oh I believe that people, a few, do make that kind of money starting with nothing.

So that's your story eh?

You started out with nothing, went to school, studied hard, found a career that give you enough disposable income to buy enough rental real estate to bring home $250 K a year in profits, eh?


I'm truly impressed... if that's true.

 

[GigiBowman]

I think a lot of the reason that people in my age group (40's) are not as well off as we could have been is because of the large amount of divorce that took place.

I look at where I am now...Started in the early 80's. First house $65,000, second house $180,000....had a house, had the 3 kids, had the pets, the 2.5 cars, blah blah blah....

DIVORCE

Split things up, start from scratch, back to the bottom....

6 years later married guy who got divorced too

He lost his house, has to pay the child support, start from the bottom again

and scenarios like this:

I gave house to x-husband (anything to get rid of the Nazi I was married to lol)
He gave house to x-wife (anything to get rid of nurse ratched)

We have nothing

His x-wife married a guy who got the house...they sold both their houses and had a mcMansion built.

We have nothing but 4 kids to send to college

my x-husband got the house but married a woman who had triplets with a man who never paid her a dime of child support and got no house....


Now.....I look at my cousin
who got married a few months after me in the 80's

They are doing VERY VERY well. They are celebrating their 25th anniversary soon (mine would have been 3 days ago)....

nothing ever got split up, they lost no houses, they bought a house that was $245,000 back then and it's worth 1.3 million now.

I just think a lot of the people who just don't have it now....might have had it had they stayed married....

and a lot of people who did stay married might have made wise real estate investments back in the 80's that have paid off this 25 years later.

Kudo's to them all for marrying the right person the first time lol

 

[GigiBowman]

interesting article today:

King Henry Paulson says: 'Buy banks!'
But gurus say no: Cool Andy, Mad Jimmy, Genius John, Nervy Naomi
King Henry's bank edict will trigger 'greatest ever depression' - MarketWatch

 

[NOBama]

Oh I believe that people, a few, do make that kind of money starting with nothing.

So that's your story eh?

You started out with nothing, went to school, studied hard, found a career that give you enough disposable income to buy enough rental real estate to bring home $250 K a year in profits, eh?


I'm truly impressed... if that's true.

Its mind boggling how many people can be so hateful towards anyone who has enjoyed any success in life. This, I will never understand.

How absurd to think that no person of success could Google "political message boards" one day, find this message board, and choose to join it’s membership. It was, after all, at the top of the search results page.

Your obtuse responses to a post of real importance to a situation that many people may suddenly find themselves in is nothing more than attempt to attack the messenger who posted it because the subject matter doesn’t fit into your pathetic political portfolio of podunk opinions.

You Mr. Ed, of all the people on this forum with whom I’ve conversed, are particularly transparent. Your suspicion that one's success may completely fabricated combined with a congratulatory comment if it’s true are disparaging at best. Your rigid thinking and narrow minded views have and always will prevent you from seeing opportunity where others see only despair. Yet, in your own mind, you have aspired to a level of knowledge which affords you the wisdom to outline the logical progression of another person’s life. That’s simply amazing. I sincerely hope that one day you will look back on your ideologically flawed musings here and reflect upon how differently life could have been for you had you the wherewithal to consider a path less beaten.

Someone once said: It’s not the gale but the set of your sail that determines which way you go.

Ed, we’re planning to take the boat out this afternoon and I regret that we’re so far apart that I couldn’t invite you to join us. The exploration each others views on life, business, and society in general on a personal level, amongst people who wish you nothing less than the best in life, would be most intriguing on such a beautiful afternoon with a slight breeze on port and a snifter of spirits at our side.

Enjoy the remainder of your day, Ed. I’m sure my wife, I, and the 4 other people joining us certainly will.