
Brew
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Everything posted by Brew
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Rich people don't pay much in taxes (now in CR) - ProPublica
Brew replied to Wally Fairway's topic in Cloak Room
That shipped sailed a few thousand pages ago. Like most things, if we would approach it with a clean slate we would have a much better system. However, in all things government related they can't go with the clean slate approach and instead amend and abridge. The problem we have now is that they have done that more in the last 3-4 years than any time I remember and they are doing it in more sweeping fashion without considering the side effects. The tax code is a clusterfuck at this point which wasn't really the case 10-15 years ago. -
Rich people don't pay much in taxes (now in CR) - ProPublica
Brew replied to Wally Fairway's topic in Cloak Room
That's stretching it quite a bit I would say especially when accounting for the average marginal tax rates that people in a lower income bracket pay. -
Rich people don't pay much in taxes (now in CR) - ProPublica
Brew replied to Wally Fairway's topic in Cloak Room
A strict flat tax would not be a regressive TAX without the use of deductions. You can call it regressive in the general sense of your feelings on taxation as a whole, but it is not a regressive tax. Credits/deductions have led to a more progressive income tax system. Again, you may argue it's regressive in general terms, but it is progressive in specific tax terms which are related to percentage of tax paid in relation to income. It's why marginal rates increase as income goes up outside of some very specific examples being used in this thread. I don't agree with your premise in regards to the income tax system. They are paying high marginal tax rates on income especially in relation to those in the lower range of your numbers outside of again a few very specific examples. They are not paying tax on deferrals of income like retirement plans, unrealized gains, etc. but that's a separate debate from the income tax system. I've made my arguments on the pitfalls of a wealth tax before. -
Rich people don't pay much in taxes (now in CR) - ProPublica
Brew replied to Wally Fairway's topic in Cloak Room
Estate tax needs to be rolled back and all formed trusts should remain part of the taxable estates for the individual. We have allowed people to form trusts to get around end of life care issues to protect their “estates” as well as allowed the formation of certain trusts to avoid inheritance tax. -
Rich people don't pay much in taxes (now in CR) - ProPublica
Brew replied to Wally Fairway's topic in Cloak Room
Sweet, another Surly tax policy debate. A strict flat tax by definition would not be regressive as it is a flat tax. At the point credits/deductions are added, then it will become regressive (less likely) or progressive (more likely). You all are using the top .000001% for your arguments, when the average “rich” person is paying pretty close to the max marginal rate that is out there until they reach the point of retiring and living off investments. They don’t have the luxury of capital like the ones being discussed to fully take advantage of the tax system outside of the 20% pass through deduction gift they have gotten the last few years. Those guys can do it because they are operating inside the largest public companies out there with access to pretty well unlimited capital, your local guy running a $100m company and making $5M a year can’t operate that far into the gray and is well into the 30’s on their marginal tax rate. We keep going in this circle, but you’re arguing over a handful of people ultimately. There are ways to pull them back into the system if they are generating any income, but that still will not cover all of them. As far as the argument about building infrastructure, you individually may have paid for it but you didn’t build it. The guy that took the risk, started the company, bought the assets, hired the employees, etc. built it and was paid for each of those risks. Plenty of guys have gone under in those industries. -
Sanibel, off Fort Myers.
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We have to run 60+ miles to get close to 100 feet of depth. I have pretty well given it up and only fish inshore. It’s easier to drive to Miami and charter out of there than make long runs.
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Sucks for the banks ultimately, tying up capital in a timeline that is constantly adjusting and should have been cleared last fall for everyone based on the original premise. Instead they are 14 months out on our loan when we filed forgiveness on the first possible day. The fees don’t look as good when you get into year 2 of holding the debt.
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When we stayed on Chalk Sound, we ate at Las Brisas and Chinsons pretty much every meal. Both were excellent. When we moved over to the Gansevoort, we ate on site every meal. The restaurant on the beach was really good for a lunch place. I don’t have much else other than that.
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Smoke and mirrors for most and mainly a kick to the nuts of Ireland. Edit to add: It is a nice change for the US to be leading discussions rather than acting like a petulant child in the corner though.
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I can’t speak for F500 companies because I don’t do any work for them, I can speak on what I see in the 7 - low 9 figure valuation companies as they are where I spend most of my time. I don’t know that I would say the people that run those companies are necessarily smarter than 99.99999% of the population, but I would say they are smarter/more astute than a large percentage of the population. Most have made bets and taken risks that most “average” people can’t fathom and that is worth something substantial. I don’t know what that number is, but I see the high side on companies I deal with in the 100:1 to 300:1 range top to bottom salaries in the larger operations. Honestly, most I see are 10:1 to 50:1 until they get well into the 8 figures in revenue. I don’t know where the magic line in the sand is where it becomes excessive, but I don’t think that is it. Others would probably say that no one is worth that much though. I can tell you with 100% certainty that the number of people that work for me that could do what I do, put in the hours I do, oversee the growth we have had in the last 5 years, etc. is pretty fucking slim. They don’t have the drive, the interest in giving up their family time, the wherewithal to deal with client issues, etc. to ever be able to do it. They are excellent at what they do, but I’m better at what I do and that’s not a knock on them at all. We couldn’t do what we do without them, but this doesn’t exist without a few of us. What’s that worth? I don’t have an answer, but there are definitely people out there that operate under a different mindset than the average person and are financially successful because of it. I’ve read things on Jeff Bezos and that dude is in that .0000001% of smartest guys out there doing things no one else could think of, but I’m still not buying shit from his companies because I think it’s bad for the people I do business with and the country at large. I also don’t eat at anything other than local owned restaurants, shop local as much as i can, etc., so everyone has some version of some weird ass principles they live by.
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Do you ever add anything useful to a discussion, because I’m pretty sure I’ve only seen you being a douchebag for the most part in threads? This thread is more cloakroom than most cloakroom threads at this point. The art of discussion and disagreement is pretty well gone at the moment which hurts discussion in the CR. Throw out a viewpoint that JJ doesn’t agree with and you’re a Nazi. It’s fucking stupid and lazy, but it’s where we are at even though I’m sure he’s the first one on the bus to deride Trump for his name calling. The R party is in a world of shit at their own making, but there are plenty of R’s that realize that. There are also plenty of shitty ones, but those two groups aren’t necessarily the same. There are a lot of opinions I do and don’t agree with in this thread, but for the most part does anyone really fall 100% on one side of the fence at this point? For me the need to try and end the Trump cycle outweighed my other viewpoints on things so I voted D. I expect that to continue for some period, but I wouldn’t say I identify as a D at this point nor will I going forward. However, people I know have marked with me with the scarlet D because of my vote and there are several I don’t have to worry about talking to any further. When you live in a state that goes 80% R, it is what it is.
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Hey now, don’t get carried away. I’ve got a new boat to pay for.
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Bought the bottom expecting it’s normal bounce, it did not. I have more shares of this than I originally planned, but whatever. It’s going to roll at some point.
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Just seems much simpler to stay offsite and drive in and park. We have done it every trip to both sets of parks and their parking system is so easy I don’t mind paying. They tell you where to park, the shuttles are running constantly, you never have to wait on the tram more than a couple of minutes, do it in reverse at night with no wait for buses, etc. Get a private house, stay in one of the time share resorts if that’s your preference, etc. We do stay onsite for Universal (usually the Portifino) because the perks make it worth it.
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First Snook of the summer in shitty beach conditions, hopefully the water improves in the next day or two. Still beats sitting in the office the next couple of months.
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Hit the stores that aren’t directly on the interstates in small towns. I’ve had plenty of luck finding decent bottles on the shelves. Pappy, no. Others lower on the totem pole, yes. If nothing else, you can buy all the ER and BT you want. I picked up a GTS for a decent price and several other things close to retail on my last trip.
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This dog is like having a baby, throw him in the car and he’s out. 6 hours in and besides a couple stops, he’ll pretty much stay there wedged up under the seat in his bed.
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You’re in the redneck riviera and pretty much the heart of it as other areas have tried to go more upscale. It is what it is, but the fishing is great out of there. We looked around Perdido before we bought in SWFL, but it was not our scene even though the drive would have been much better. If you figure this tournament fishing out and need some people, I’m always looking for a way to blow some cash. Best plan is buy a boat, hire a crew, and spend some serious coin I would imagine.
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That’s part of the reason it’s taken me so long to find something. All my boats have either been white on white with an accent color or white and black exterior with white interior. Same for vehicles (except for they are white on grey), I’m as vanilla as they come. I also wanted a standard windshield. This one has a light gray interior with black accents which took some getting past, but I think I may end up liking it better than white because it should hide spots easier
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Flew to Chicago for a couple of days last week for the first time since all this started. Airports were great with traveler counts down, flights on time, boarding/deplaning organized, etc. We go to Chicago a couple of times a year normally. It’s been hit hard, lots of closed places but the ones we frequent were still there. Police presence downtown was extremely high. Heading out for South Florida tomorrow, be interesting to see how the community we are in down there is dealing with this since we were there at Christmas. Bunch of old people, so it has stayed locked down for the most part.
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Picked up yesterday, a little lighter in the pocketbook now. Going from a rotation of boats from the 2000’s to a 2020 was a little eye opening today. The sales guy looked at me funny when I asked where the key was at. Everything is touchscreen which is going to take some getting used too. My wife asked me this morning if this ended my hunt for a bay boat, nope. You can’t have enough boat options although I may be looking a little older and cheaper for that one.
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So what you’re saying is you prefer to be on the boat by yourself. Seems perfectly reasonable to me.
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