Brew
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Posts posted by Brew
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14 minutes ago, Mojo Hand said:
You said this proves that "Trump was right, lower taxes leads to more tax revenue. We should celebrate." Now you are saying that the low receipts aren't necessarily caused by the tax law, we have to wait and see. Those are two different arguments.
Did you completely skip the first paragraph of the post you just quoted?
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28 minutes ago, David Dennison said:
You didn't read any of the report, did you?
Yes, did you? The first sentence in my post was facetious for the record in case that wasn’t clear enough to you.
“Although some provisions of last year’s major tax legislation (Public Law 115-97) affect receipts, the timing of those effects is highly uncertain. The amount collected in recent months might not indicate the amount that individuals or businesses ultimately will pay for tax year 2018.”
That from the CBO report doesn’t really match up with “The rising deficit is largely the result of the tax cuts President Trump signed into law at the end of last year, as well as a bipartisan agreement to boost spending, according to CBO.” from the Hill article.
Hence the reason I asked what they base it on. There was a report out last week that individuals were going to owe more than expected at year end because of screw ups in the IRS tax tables this year. We’re two estimated payments and half a year’s withholding into the tax law changes at this point. I think the corporate reduction is ultimately going to greatly exceed expectations, but it’s still early.
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Trump was right, lower taxes leads to more tax revenue. We should celebrate.
The headline in the post above is slightly misleading when the article specifically states that the effect of tax law changes on collections is uncertain. The article makes more sense than the Hill link above.
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Anyone do a seasonal type membership with Freedom Boat Club or one of the others rather than an annual? I’m trying to get a rough cost to decide whether I just want to buy, but I don’t really want to call them and get on their radar yet. We’ll be in South Florida for 3 months a year going forward so it makes some sense to look into it so we have a variety of boats to use. I’ve also got restrictions on what can be kept at the house so owning may end up being too much trouble and I don’t think the MC is going to be that useful down there.
I’m also curious whether you run into issues using boats back to back days as we’ll be out quite a bit.
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1 hour ago, Handcruser said:
I hate the fish and ski's because they dont do either very well. You're also getting to the point where your kids are going to be more into social activities with friends than they are now. I would bet they would be more interested in skiing/tubing/surfing on the weekends with friends than they would a 5am wake up call for fishing. Especially your daughter.
If I'm accurate, then I would go ski boat all day every day. And if you play your cards right and shop wisely, you can get something really nice for under 25k.
I would go inboard, with a tower and speakers. Preferably v-drive. Everyone will say master craft, Malibu, nautique, etc. Those are all good but crazy priced.
Lots of other good options out there if well cared for and low hours.
Sent from my SM-G960U using Tapatalk
You just have to shop, be willing to travel, and not plan on buying new within that budget. I bought an 06 MC X-1 for the number you have above and wouldn’t sell it for close to that if someone laid cash in front of me tomorrow.
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You will have to wait on G650 as he is the only one qualified to make boat recommendations.
Do you fish or are you looking at that style because it is what you had before? Have you had boats as an adult? What type of lake/river are you on as far as rough, fairly smooth, etc? Do you like to cruise, carry many people, just want to pull tubes, etc?
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I’m curious how they track their information. Outside of the bonus depreciation component that was retroactive to 9/1/17, all other changes were 2018 changes. Do they use estimates of tax collections during the year since collections really only happen quarterly? Are they using actual spring collections which are just true up payments/refunds and quarterly estimates?
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6 hours ago, Brisketexan said:
I dunno. Ever see an autistic dog?
I mean, I haven't.
But I bet it's pretty sad and shit.
I really wonder about my neighbors lab sometime just for the record.
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I have it, doctor says it is nerves compressing because of your arm being at an angle and your weight compressing the elbow/shoulder. Your body is trained to wake up before it goes too far which is why you wake up. It still can cause long term nerve issues according to him and if you drink it can be a serious issue because you don’t wake up like you are supposed to.
We changed our mattress and pillowsto something more supportive and the issue isn’t as bad but still happens. I can’t sleep on a soft mattress with a soft pillow at this point or it happens all night long.
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8 hours ago, kevwun said:
The DA has now dropped the murder charges against both of the brothers. From the little I read and saw of it, it was a really big leap to charge them with murder when they didn't have any proof that they knew that it was going to happen and neither was directly involved.
The whole thing seems like a bad deal but who knows what all really went on. Flashing the money on Instagram and a few other things made it not look all that great for them. Once they got back in the vehicles and left with the other two, it wasn't going to end well for them whether they knew or not. It's been in the news quite a bit here locally and has been interesting. The older brother seemed to be completely clueless about any of it and still ended up losing his football scholarship and having to leave IU. Isaiah comes across like he has the mentality of a kid in everything that is out there. Then their house burns this spring. It's been a rough year and there is no way Isaiah makes it through his 5 years.
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#412, in for about tree fiddy.
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15 hours ago, Hank_Hill said:
Is it all the same? Obviously not. But its still fucking pizza and I have yet to try any that made me say "Hey, I'd rather not be eating this."
Next time you’re in St Louis try Imo’s and get back with me. My wife loves it. I grab something at the hotel bar or ball game the nights she wants Imo’s.
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2 hours ago, luke duke said:
How do I neg rep this guy?Leave him alone, his mentally challenged strength didn’t come in until he was 18 either.
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15 hours ago, Dutchrudder said:
Breaking Bad is the greatest TV show of all time, and Ozymandias is the best episode of the show. How that's not in the top 3 is beyond me. Somehow The OC and Survivor got rated higher. lol...
I assume Survivor is pretty high because it basically started that genre of show that now dominates the TV.
There are a number of shows in there I have never heard of. I watch very little TV but I did find that strange.
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2 hours ago, 4th and 5 said:
He’s got mental disabilities
I think the prosecution will let him slide.
So are you saying the charges may get tossed?
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3 hours ago, Pescado_Rojo said:
Anyone that fishes regularly in Florida should be supporting that organization. The voters already passed Amendment 1 and US Sugar has already agreed to sell the land needed for the corrective actions, but everything is held up like usual.
For those that want to see what the effect of the water releases are, go to the website above and view the current Lighthouse Beach Aerial images and then click the 2018 archives and view the February/March images. You'll also see the beaches empty in the current pictures because no one is going out.
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https://www.si.com/nfl/2018/08/04/ray-lewis-hall-fame-weekend-atlanta-murders
Pretty good read by Klemko on his opinion on the NFL sheltering Lewis and others from answering questions relevant to anything.
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30 minutes ago, Ogie Ogilthorpe said:
Red tide keeping me off the water this weekend. Dead fish everywhere, 400 turtles cleaned off the beach. Whale shark even washed up. The worst was a baby manatee clinging to its dead mother.
It it is fucking brutal
Sitting on a Sanibel now and it’s a sad mess. In 20 years of coming down here, I haven’t seen anything like it. We tried walking the beach yesterday and it has improved, but the smell of death is still strong. The fisheries have taken a beating based on what I have seen on the beach and floating in the water the last few days. Ended up not doing any fishing because of it. Bought another house while here though, so hopefully it gets better.
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7 hours ago, JimmyJames said:
My point is related to the difference between the tax rate between capital gains versus regular income, so your argument about the mortgage interest deduction misses the mark. Of course that incitiveses it. That’s not the point. And it’s minimal compared to overall taxes, as our resident troll has pointed out.
Back to what I’m actually arguing, why should the federal government favor investment in capital gains over income derived from work? Why should Eric trump investment into his investment into a stock be taxed at a lower rate than a surgeon who performs heart surgery? Is his investment that much more valuable? 15 percent versus 40?
I answered and you responded to it in post #304. It has pinballed back and forth over the years but has generally been used to try and spur economic growth/investment/saving. I think the studies show little correlation between the rate and economic growth, but do show a higher rate of savings. I think there are other studies that show a lower capital gains tax being the sweet spot for total tax collections also. A higher capital gains tax results in less income subject to tax likely because of tax planning.
My comparison to interest deductions is relevant, the government is in the incentive business and uses the tax code to do it.
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There is some debate but most think the severity of it traces back to Lake O water releases and it keeping the water table nutrient rich. That combined with higher than normal water temps and too much rain is causing major problems. The lake and the water releases are causing problems up and down the coast at this point.
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On 7/31/2018 at 8:39 PM, Brew said:
Heading out to Sanibel tomorrow. Hopefully the red tide and shitty water don’t cancel my fishing plans. It’s looking pretty rough down there right now.
Welp, no fishing due to the red tide. It’s worse than I’ve ever seen it. It just smells like death everywhere with dead fish piled up on the beaches and floating in the water. It’s f-ing sad and hopefully this state gets it’s head out of it’s ass and votes for new leadership. I signed a contract on a house while there, so hopefully the last 20 years are more indicative of the future than the last couple of months.
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4 hours ago, 27-25 said:
I was under the impression that work was a good thing. Was I misinformed?
And I'm not arguing that the rates be the same. I am arguing that I see no rationale for widening the difference further. The rich were already getting richer. The endgame of widening income disparity will not end well for anyone, even the rich.
Your first statement is stupid just for the record and more hyperbole that goes nowhere other than inflaming one side or the other. The flip side of your argument is that without capital investment there would be no work for the worker bees to perform. Both sides of the aisle have placed a perceived value on that resulting in lower capital gains rates.
This whole us versus them mentality is tired at this point. I made my stance on the tax system clear in my post above. Go to a flat or tiered structure with no deductions so everyone pays something and the system can’t be gamed. However, there will still be rich/poor and employee/employer. The tax structure has jack shit to do with income disparity and those that lash out at it with that mentality are just trying to find an argument.
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4 hours ago, sidis said:
specifically, are you talking about pass-through entities as to whether or not they qualify for the reduced tax rate based on being a services company? As in, if you are a 100% services company like a doctor's office or consulting group, one doesn't qualify for the reduced rate and are stuck with the old rate? or something more specific?
That is one issue although it isn’t a rate issue. You get a 20% deduction on oss through entities with service providers having a phase out on that 20% deduction. Most service providers that phase out rent buildings from partnerships they own separately, what income do you have to take into account under that scenario? Are there going to be reasonable rent adjustments for those like us that pay rent at a significant premium to lower self employment tax. Another is related to the issues around reasonable comp in those entities. There has been some movement this week, but there is still a lot that is vague at best.
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8 hours ago, JimmyJames said:
So the government picks the winners. Of course investment of capital into business is a good thing. So is working to earn a paycheck and provide a service. Which one is better?
No, the government picks what to incentivize just like they incentivize home ownership over renting, just like they incentivize giving to charities, just like they incentivize those that produce a tangible good over those that provide a service, just like they incentivize being a landlord, just like they incentivize going to college, just like they incentivize retirement investing for lower income people which I don’t qualify for, etc.
They incentivize the investment of cash into business interests over investing the cash in your local banks savings account and paying ordinary rates on the interest. Low/moderate income people pay zero capital gains tax so they have an even bigger incentive although most lack the means. I’m not saying it is right or wrong, but there is a reason and you may not agree with it. There are plenty of components that people don’t agree with and it’s usually the ones they aren’t getting.
You want to complain about social engineering, explain the child tax credit, the earned income credit, etc. to me. It’s a two way street and everyone in the system is getting some benefit. My vote is to scrap it all and go to a tiered system with no adjustments.
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Tax reform
in Cloak Room
Posted · Edited by Brew
Article says receipts up over 10 month period. 7 of those months fall in 2018. The only month specifically mentioned as down is July. Article last week said withholdings are going to be short this year due to table issues which will result in additional money or less refund in Spring of 2019.
Point remains that it is too early to make any sort of determination as to what receipts will be for this year and the overall affect of the tax law changes on receipts and the CBO makes that same assessment in the article. The Hill’s article is misleading above which was what started my questions.
Hope that clears up your confusion.