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investing (made) dollars now in hopes of future gains involves risk anyway you slice it.
Just look at a simpler approach.
If a dollar today was the same as $1.65 then, the $150k house would now appreciate to $247,500 at that inflation rate. If it is sold at $250,000, the the taxable amount should only be $2,500. However, the cost of selling the house was likely more than $2,500, and there would probably be no taxable profit.
investing (made) dollars now in hopes of future gains involves risk anyway you slice it.
There was a time that AIG, GM, Ford, GE, etc. were all considered "AAA safe" stocks because all you had to do was buy them, put them away in the safety deposit box, and just clip coupons as the dividends rolled in.
Is it my imagination, or are democrats targeting companies that pay stock holders dividends?
Last edited by CosmicCowboy; 08-18-2012 at 04:56 PM.
There was a time when US big companies made most of their profits doing industrial stuff.
now they as much if not more profit gambling on Wall St, without all the messy, expensive employees to pay.
Damn boo, you broke my helicopter.
Gecko is lying, tax-evading bas
"Maddow said, in 2002 when Romney was running for governor of Massachusetts, it was demanded of him that he release tax returns to demonstrate a residency in that state of at least seven years. Romney refused and insisted that the public take his word for it.
Eventually it came out that Romney had lied. He was forced to pay Massachusetts taxes retroactively, because when he said that the public would have to take his word that he had paid taxes for seven years as a Massachusetts resident, it simply wasn’t true.
Now he wants us to take his word that he has paid at least 13 percent of his massive income over the last 10 years in taxes. Why should we take him at face value? He has demonstrated a willingness to prevaricate on this very subject in his career as a public figure.
“The precedent for trusting them on this,” Maddow said, “is not good.”"
http://www.rawstory.com/rs/2012/08/1...=Google+Reader
yep, Gecko is certainly lying about his hidden tax returns, and the 13%.
Maddog
so did Gecko lie about MA residency and taxes and was forced to pay them, or not?
if I know but Maddog is no more credible than you are.
Bouton's at least thinks he's telling the truth. People like the Mad Cow flat out lie.
So they can save on the gains from their primary residences too.
Duh.
I already did.
Started drinking a little early?
Nope. I should have quoted more, but it still applies regardless.
Seven Tax Return Questions Mitt Romney Left Unanswered Today
1) What kind of taxes? Does that 13 percent cover income taxes, capital gains taxes, or some combination? By Romney’s own admission, nearly all of his income comes from investments (so the low capital gains tax rate helps him drive his overall rate far below that of many middle-class families).
2) What sort of deductions did Romney employ? In addition to the deduction they receive for classifying Ann Romney’s horse as a business, what other deductions are the Romneys using to lower their tax rate?
3) How did Romney’s IRA grow so large? Romney’s retirement account contains more than $100 million, despite annual limits on contributions. How did that happen?
4) What sort of offshore tax strategies does Romney use? While Romney was on the executive committee of Marriott, the company employed complex strategies known as “Son of Boss” to dodge taxes, prompting consequences with the IRS. Did Romney use a similar strategy for his own taxes?
5) Was Romney’s Swiss bank account disclosed on all tax returns for all years? Did he file a Report of Foreign Bank and Financial Accounts (FBAR) as required by the deadline for each year he had the account?
6) Did Romney participate in the IRS’s settlement initiative for undeclared offshore financial accounts (the amnesty)? In 2009, the IRS gave American citizens a window to declare their Swiss bank accounts and avoid prosecution for tax dodging, before it launched a crackdown on foreign accounts. As Slate’s Matt Yglesias wrote, “Romney might well have thought in 2007 and 2008 that there was nothing to fear about a non-disclosed offshore account he’d set up years earlier precisely because it wasn’t disclosed. But then came the settlement and the rush of non-disclosers to apply for the amnesty.”
7) Why did Romney invest in Houston rental real estate that was explicitly marketed as a tax shelter? As The New York Times reported, Romney was an investor in a real estate scheme in which the organizers “played up the tax shelter benefits.” The deal turned out to be a lousy investment.
http://thinkprogress.org/economy/201...urn-questions/
THE HEAT IS ON!
And it ain't coming off.
Gecko is a lying, tax-evading asshole.
You are funny as boutox.
If Obama thought there was a chance in they could get Romney on tax evasion the IRS would be crawling up his ass with a microscope right now.
You are just a stupid smurf that vomits back your thinkprogress masters .
Remember, the government has SEEN all his tax returns.
Maddow claim, if false, would be legal slander, so why isn't Gecko attack dogs all over her ass today? why aren't they coming out and denying it and trashing her?
Maddow isn't talking about the FEDERAL, she's talking about MA residents' STATE taxes.
It's Saturday. His Attorney is in the Hamptons, dumbass.
so Gecko and Ryan, who was in FL "defending" the Medicare he intends to destroy, Gecko's hit men, remain silent today, this weekend, Sunday morning talk shows?
I don't like Maddow either but there's Boston Globe articles proving her assertion if you know where to look, tbh....
I'll bet they already did and found nothing bad. In this administration with it's leaking of secrets and leaks from agencies as bad as they are, you can be sure if they could find dirt on Romney, we would know it.
Do you remember everything you did or signed from 10 years ago?
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