O/T: BLOG POST OF THE DAY

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

More and more, yes.

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

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

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.

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.

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

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

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

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.

-- 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

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

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

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

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

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

-- 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 wrote in news: snipped-for-privacy@4ax.com:

My wife made me ditch her books :(

" snipped-for-privacy@att.bizzzzzzzzzzzz" wrote in news: snipped-for-privacy@4ax.com:

Growing WILL need stimulus and taxation ...

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.

We already have.Bush's TARP was about $1T. Obama added almost another $5T in self-stimulation. Neither worked. They simply gave the very people that failed to behave responsibly a get out of jail free card. Among these include the bankers, the people that bought homes as items of speculation, and people living far beyond their means.

How much more shall we spend before folks on your side of the political divide finally admit it does not work?

BTW, what neither your side nor most so-called conservatives get it that what Obama did was NOT Keynesian. It was far worse. A Keynes stimulus would have gone directly into the economy in the form of jobs for the masses. Obama self-stimulation was designed to benefit his favored oligarchs and low rent voter base but it produces no jobs of any note outside the wretched public sector. Now Keynes was wrong on many levels, but Obama's actions are pure political megalomania trying to get people to like him.