O/T: BLOG POST OF THE DAY

[Tim Daneliuk]

In general, they ought to be similar, at least up to a point. People that invest this way are all investing approximately the same kinds of deals. However, Romney, like any principal in a partnership, stood to do better in a couple ways in all probability:

- Bain likely got significant fees for doing the various buyout deals. 20% of the total deal value is not uncommon. As a partner, he'd have gotten a piece of that fee.

- Using various (legal) mechanisms, Romney's end from these deals would be treated as "compensation" and probably more of it would be able to be tax deferred than the other investors' for whom the money was a profit on an investment and thereby taxed immediately.

- As a partner/employee at Bain, he probably had access to deals that their smaller investors would not. That is, he could get into syndicates that others would not be able to .

None of this is remarkable or unethical so long as no fraud was involved.

[Tim Daneliuk]

Just because you don't like something does not make it unethical. For it to be unethical it would involve him using some form of fraud, force, or threat. I see no evidence of any of the above.

[Just Wondering]

Uh, your "no deductions" plan starts off with a deduction. Your "prebate" is a deduction.

[krw]

More and more, yes.

[krw]

You're simply nuts! Obama's doesn't even *have* a plan, except to borrow another $15T (more like $25) over the next decade.

[krw]

Your boy Obama is doing such a great job of that!

[Ed Pawlowski]

Why not? If it is legal, it was deemed right by the lawmakers. If Romney or others want to give money away, fine, but that should be their decision, not mine and yours.

Wish I could remember the details of a 60 Minutes piece asking about some corporations with operations off shore. They would bring them back of the tax rate was lower. We accept nothing over a lower percentage of billions.

Our tax code is terrible and should be tossed out. The code should be re-written and no more than three pages long. Problem is, that would put many accountants and lawyers out of work.

[Ed Pawlowski]

We are not discussing the need to build bridges. What we do want though, is a fair contribution towards paying for them. Under present laws, that is not possible.

I don't blame anyone that avoids taxes when following the tax code. I'd take every possible advantage. Don't throw darts at the tax payer, toss those darts at the people that passed our inane tax laws.

[Larry Jaques]

Veery much so.

I believe the excess is taxed. Just the $6k is written off, until it's cashed in.

How do we get all the richies to do this, Han? Then again, how much of their wealth was created outside the US? Most richies are men/women of the world, with MANY international business dealings.

Good question.

-- And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom. -- Anaïs Nin

[Larry Jaques]

It's also possible for people to put their shares of their companies into the IRA, which may be true in this case.

All businesspeople who do well take care of themselves first. If they're not solvent, they lose the business and their employees lose their jobs. I hope Han tells us what he meant by that.

I'd like to see that, too. IAC, I won't be voting for the Romneycritter.

-- And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom. -- Anaïs Nin

[Larry Jaques]

What's "feel-good" about incidentals?

How many richies do you know who keep -all- their money in US-only banks/investments? Most don't because interest is higher elsewhere, not to mention lower or no taxes elsewhere.

-- And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom. -- Anaïs Nin

[Larry Jaques]

Somebody point out to the Left that there are more rich Demonrats than rich Repugnicans.

Have you guys seen the Tony Robbins collapse video yet? It's -very- interesting.

in there, he comes in at 51 seconds.

-- And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom. -- Anaïs Nin

[Larry Jaques]

That's only if you listen to Obama's spin numbers.

Deficit or debt? The deficit is Washington's daily overspending. IOW: pork.

Those bastards in D.C. need to pass a Balanced Budget Amendment.

-- And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom. -- Anaïs Nin

[Mike M]

Sometime back Karl posted an article on Credit Cards and the Federal Reserve. Good reading, it doesn't really matter which you elect they are all puppets for the Uber rich. We have the best politicians that money can buy.

Mike M

[dadiOH]

It doesn't matter where the money is, interest on it is subject to US taxes, not local.

[dadiOH]

True. But only an amount with a value equal to or less than the maximum allowable IRA contribution.

[Larry Jaques]

Tell that to the guy who wrote the wiki on it. From

Large balances

While the average and median IRA individual balance in 2008 were approximately $70,000 and $20,000, higher balances are not rare. 6.3% of individuals had total balances of $250,000 or more (about 12.5 times the median),[17] and in rare cases, individuals own IRAs with very substantial balances, in some cases $100 million or above (about

5,000 times the median individual balance).[18] This typically occurs when founders of companies place shares in their own company in an IRA, and the share value subsequently rises substantially.[18]

-- And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom. -- Anaïs Nin

[Han]

Larry Jaques wrote in news: [e-mail]:

My wife made me ditch her books :(

[Han]

" [e-mail]" wrote in news: [e-mail]:

Growing WILL need stimulus and taxation ...

[dadiOH]

That doesn't change what I said. Those founder's shares value had to be no more than the maximum allowable IRA contribution when they were placed in the IRA. There is no limit on how much the items in an IRA can grow *after* they are in the IRA; in fact, that is the whole idea.