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Topic: In other news ...

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847badgerfan

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Re: In other news ...
« Reply #17892 on: July 12, 2022, 01:15:18 PM »
When they quit allowing deductions for auto load interest, I began taking out home equity loans to buy cars. Got a lower rate and was still able to decuct the interest.
Yep.
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Cincydawg

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Re: In other news ...
« Reply #17893 on: July 12, 2022, 02:14:50 PM »
Autoloaders are the best.

bayareabadger

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Re: In other news ...
« Reply #17894 on: July 12, 2022, 02:40:28 PM »
When they quit allowing deductions for auto load interest, I began taking out home equity loans to buy cars. Got a lower rate and was still able to decuct the interest.
I’m some ways, this feels like another reason to roll that back, but I can’t put a finger on why in a well-rounded way. 

847badgerfan

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Re: In other news ...
« Reply #17895 on: July 12, 2022, 02:56:19 PM »
I could get behind eliminating ALL deductions and loopholes, and then have everyone pay 10-12 percent, regardless of income and regardless of the source (with some exceptions, like a pre-existing Roth IRA).

But, nobody would ever propose this, because the people in power are mostly beholden to the mega-rich, and therefore highly compromised. 
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longhorn320

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Re: In other news ...
« Reply #17896 on: July 12, 2022, 03:12:26 PM »
I could get behind eliminating ALL deductions and loopholes, and then have everyone pay 10-12 percent, regardless of income and regardless of the source (with some exceptions, like a pre-existing Roth IRA).

But, nobody would ever propose this, because the people in power are mostly beholden to the mega-rich, and therefore highly compromised.
do you have any idea how many folks would be out of work

it will never happen but I do like the idea
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Cincydawg

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Re: In other news ...
« Reply #17897 on: July 12, 2022, 03:12:30 PM »
The mega-rich have no need for income.  They can easily avoid any income tax.

utee94

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Re: In other news ...
« Reply #17898 on: July 12, 2022, 03:18:44 PM »
The mega-rich have no need for income.  They can easily avoid any income tax.
The mega-rich tend to have corporate holdings, and those corporations are being taxed at least twice, and depending on the industry's regulations, sometimes many more times than that.


Cincydawg

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Re: In other news ...
« Reply #17899 on: July 12, 2022, 03:24:13 PM »
They often have stock holdings that pay no dividends.  They can easily borrow on those holdings and have plenty of money, but no "income".  This is the main way they avoid income tax, they simply don't have income.


utee94

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Re: In other news ...
« Reply #17900 on: July 12, 2022, 03:35:27 PM »
They often have stock holdings that pay no dividends.  They can easily borrow on those holdings and have plenty of money, but no "income".  This is the main way they avoid income tax, they simply don't have income.


The value of the holdings themselves is determined by the value placed by the market on that company's retained earnings.  The value of retained earnings is impacted directly by the corporate taxes paid.

Cincydawg

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Re: In other news ...
« Reply #17901 on: July 12, 2022, 03:42:01 PM »
I figure customers pay corporate taxes anyway, just like any business expense.  Either way, they can borrow indefinitely, almost.

Musk sold a slew of Tesla stock in part to pay for Twitter, the deal that may have fallen through.


Cincydawg

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Re: In other news ...
« Reply #17902 on: July 12, 2022, 03:44:43 PM »


How one might define "best" obviously is variable.  I personally would list something like Kansas or one of the Academies as "best".  If you could coacj, where would you like most to coach?  Stanford would make my list.  Washington?  UCSD?  Eastern Michigan?


longhorn320

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Re: In other news ...
« Reply #17903 on: July 12, 2022, 03:45:03 PM »
They often have stock holdings that pay no dividends.  They can easily borrow on those holdings and have plenty of money, but no "income".  This is the main way they avoid income tax, they simply don't have income.


Ive read this in several places but this seems like short term solution

they cant borrow forever cause sooner or later those loans will need to be repaid
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Cincydawg

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Re: In other news ...
« Reply #17904 on: July 12, 2022, 03:52:16 PM »
Well, let's imagine I own say $3 billion in stock, which is not unheard of, but I'd call that mega wealthy.  Let's say I need $20 million a year in cash to live. Anything spent over that is buying assets, like another Gulfstream.  So, how many years can I borrow $20 million, pay the interest, and not run out?  This presumes the $3 billion doesn't appreciate, which generally it does.

And maybe every so often I sell some stock and pay it all back and taxes too.  Maybe every ten years I have an enormous tax bill.  Or not.

A feller can live pretty well on $20 million a year.  It's been done.

FearlessF

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Re: In other news ...
« Reply #17905 on: July 12, 2022, 04:55:29 PM »


How one might define "best" obviously is variable.  I personally would list something like Kansas or one of the Academies as "best".  If you could coacj, where would you like most to coach?  Stanford would make my list.  Washington?  UCSD?  Eastern Michigan?


the list above is tied heavily to recruiting, which is what most coaches with aspirations desire
I'd be content with a low pressure job in a great climate/city.
a coordinator position would be fine for me - even less pressure and plenty of money for a poor dirt farmer
Stanford and Cal Berkeley would be on top of my list - I like the Bay area
Perhaps UNC, NC State or Virginia on the East side
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