Anybody have any good economy statistics for me still?

redsfann

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What if the statement isn't all that true, though? It's a difference of opinion that redsfann and I have. No biggie. One of us will be proven wrong because we are on very opposite ends of opinion on this.


It would be good for our economy if I'm wrong, dawgball. And since I'm self-employed, I have complete control over where my retirement assets are--instead of only having a half-dozen or so crappy mutual funds to chose from in an employers plan. That makes it much easier for me to move assets quickly when conditions warrent doing so.
I know I'm very fortunate that way--as long as my choices are the right ones.

regardless of whether or not the US is entering/will be entering/is already in a recession, I will need a lot of convincing to stop shorting the dollar or move out of commodities.
 
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redsfann

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Then he raised my future quarterly estimates.

My quarterly estimated tax payments for 2008 will be double what they were 3 years ago. I contract with small businesses to buy their written-off debt, then collect it via court cases. Business has never been better; I turn down new clients all the time.

There will always be a segment of the population that doesn't pay its bills; these last few years its become a tsunami.
Every indication from my little corner of the universe is that things will get much worse before they get better...:shrug:
 

MadJack

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I contract with small businesses to buy their written-off debt, then collect it via court cases

just locally?
 

IntenseOperator

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My quarterly estimated tax payments for 2008 will be double what they were 3 years ago. I contract with small businesses to buy their written-off debt, then collect it via court cases. Business has never been better; I turn down new clients all the time.

There will always be a segment of the population that doesn't pay its bills; these last few years its become a tsunami.
Every indication from my little corner of the universe is that things will get much worse before they get better...:shrug:


since you brought this up....another story he told me

He has recently come across clients with (I don't know the proper terminology) "debt approval" :shrug: from their credit card companies. Were they are absolved of the credit card debt they owe. He said one client got waived for 90 dimes of charges. Then she was upset because Uncle Sam wanted his cut. Just cuz she was waived the charges, Uncle Sam wants 18 dimes of that "gift". He said this is something even any bankruptcy can't absolve.
 

MadJack

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since you brought this up....another story he told me

He has recently come across clients with (I don't know the proper terminology) "debt approval" :shrug: from their credit card companies. Were they are absolved of the credit card debt they owe. He said one client got waived for 90 dimes of charges. Then she was upset because Uncle Sam wanted his cut. Just cuz she was waived the charges, Uncle Sam wants 18 dimes of that "gift". He said this is something even any bankruptcy can't absolve.

i knew a guy that went bankrupt and got ALL IRS debt included, while they were at it. it's not impossible to get IRS debt disolved.

how can the IRS want a piece of the action of that woman's debt that was written off? she paid her taxes, i assume, on money she made, why does she owe the IRS on money she never made to pay back a loan? BS! she better be seeing a better accountant.
 

IntenseOperator

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Jack, I don't doubt this guy's abilities (had him 20 years with an audit under my belt). At first he said he was taken by surprise as well but looked into it and said they are correct. He does all the monthly financials for a number of businesses. I'm just a small fish in his pond. They have changed bankruptcy laws in recent years so maybe the program is different now.
 

MadJack

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and while everybody is talking about how their estimated tax payments are going up this year, mine won't be. i'm back to about the year 2001 as far as that goes, thanks to these hypocrites that want to protect us from the evils of gambling except their own horse racing and lotteries.
 

MadJack

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They have changed bankruptcy laws in recent years so maybe the program is different now.
maybe so. probably so. greedy bastards.

still don't see how they can tax somebody on money they haven't even made :shrug:
 

redsfann

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just locally?

within 80 miles of the Quad Cities, in both Illinois and Iowa. Do a bit of driving so the gas prices directly affect my bottom line.
Gov't raised the per mile write-off to 50.5 cents per mile from 48.5 cents in '07.
I'm thinking if gas reaches 4 a gallon, it won't be enough to keep me from taking a pay cut...
 

MadJack

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within 80 miles of the Quad Cities, in both Illinois and Iowa. Do a bit of driving so the gas prices directly affect my bottom line.
Gov't raised the per mile write-off to 50.5 cents per mile from 48.5 cents in '07.
I'm thinking if gas reaches 4 a gallon, it won't be enough to keep me from taking a pay cut...
interesting business. i might have to get in touch as i'm always looking for something. that's if you don't mind me picking your brain and you don't mind sharing :)
 

dawgball

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she paid her taxes, i assume, on money she made, why does she owe the IRS on money she never made to pay back a loan? BS! she better be seeing a better accountant.

Do you not consider the money that she spent and now waived as income? I would. If it wasn't like this, what's to stop anyone from going out and running up debt that they have no intention of repaying. Eventually, it would get waived by someone.

On another note from this, it may be because the credit card company waived it??? I have no idea.

I think most of you guys know I want the government out of as much shit as we can get them out of. But I feel this woman was just compensated $90K. Pay your bill if you're going to spend it.

chadman -- we have just had a crazy good economy for a while now especially when you factor in housing price gains overall (not the last 6 months -- they're still well higher even with the corrections). So if someone did not plan for the future in some of those times instead of upping their cell phone plans and buying big screens :0corn , then should we as the general public have to front that bill?

I don't really want to get in an argumentitive discussion with anyone here, but at some freaking point it has to come down to self-control. There are examples of just plain bad luck, but they are the exception and not the rule. We should not govern based on them, imo.

I just got back from the Preds pissing away playoff hopes (for the most part), so if I'm not making sense just ignore this post.

:00hour
 

DOGS THAT BARK

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Well, it sure isn't currently helping me right now...the trip was far more expensive than it would have been a few short years ago - plane tickets really expensive due to fuel costs, gas prices upwards of $4 per gallon there, food costs plenty high, which can't currently all be blamed on local Hawaii costs.

And, I hardly think that you and I are exemplary measures of EVERYONE, now are we? If I had not chosen to live in a small town and aggressively pay down debt, then I would not be doing nearly as well as I am now. The economy certainly is not helpful to me right now, especially considering how much I have to drive every business day.

And you...you are probably just spinning off some of your oil company shareholder profits for your trip...:tongue

Despite my jabs...I hope you have a wonderful trip. Sounds like a good time.

--and there lies gist of the matter--Chad You take responsibilty for your destiny and do the right things--those that live beneath their means will always surpass those that live beyond their means.
Interest can be your best friend or your worst enemy.

The biggest factor in economy is employment--followed by inflation and interest rates.

These will be the key elements in months to come-and while currently they are very good collectively- we have had slide in employment for 2 consecutive months though minor--but could be indicator of things to come.
--On the stimulus package--don't think the checks will make any difff and personally think it is waste of money--2nd only to the cost of mailing notices--however believe the key will be the tax saving in package to businesses for expansion.
I think this will be the key to watch--and give us a true barometer of actual strenth of corporate america. If they feel business is good--they will no doubt take advantage of these in next 6 months--before possible changing of guard and loss of these tax breaks--
 

redsfann

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interesting business. i might have to get in touch as i'm always looking for something. that's if you don't mind me picking your brain and you don't mind sharing :)

Sure, Jack. I can answer any questions you might have about what I do. I can't imagine what you would have to go through to start something like what I do--9.5 years ago I bought my client list from a guy who had built the business from the ground up. In addition, every state is different in how they deal with small claims cases and garnishment of wages.
Also, there are a number of national companies that do what I do; intense competition and their size allows them to really put the screws to someone trying to get started on their own.
Do you live near a population center? There are approx 750,000 people in the area I cover--enough for both the big, national companies and smaller, independents like me to make a dollar or two.
I don't know how long it would take you to get established, build a client list, ect, ect....
 

redsfann

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--and there lies gist of the matter--Chad You take responsibilty for your destiny and do the right things--those that live beneath their means will always surpass those that live beyond their means.
Interest can be your best friend or your worst enemy.

The biggest factor in economy is employment--followed by inflation and interest rates.

These will be the key elements in months to come-and while currently they are very good collectively- we have had slide in employment for 2 consecutive months though minor--but could be indicator of things to come.
--On the stimulus package--don't think the checks will make any difff and personally think it is waste of money--2nd only to the cost of mailing notices--however believe the key will be the tax saving in package to businesses for expansion.
I think this will be the key to watch--and give us a true barometer of actual strenth of corporate america. If they feel business is good--they will no doubt take advantage of these in next 6 months--before possible changing of guard and loss of these tax breaks--

Great post, Dogs. As I said in an earlier post; there are always people who are not going to pay their debts--but we ( meaning all Americans, as a collective group) over the last couple of decades--have decided that there is nothing wrong with spending beyond our means.
And with help from 0 down, adjustable rate mortgages and other creative loans, we have been able to keep spending beyond our collective means.
i believe what we are seeing now is the beginning of the end of all that"easy" credit that got us in this mess in the 1st place.
Which means things will be a bit rough for a while; it has happened before and it will happen again. We will muddle through it and things should be better overall in the long-run.
 

djv

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Reds if gas becomes a problem and you have got something closer to me then you. You can always contract me out. And being in full retirement workfor less then what others might. My old company works me out about 100 hours a year so I have time. Helps keep the mind sharp. Talking about gas remember 1999 and 12 bucks a barrel of oil and 1 buck gas. Seems like 100 years ago.
And with all these smart oil men in office last 8 years what happen.
 

DOGS THAT BARK

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Thought this interesting
---trying to figure out who in reality would really have no prob with adding 50 cents or dollar on cost of gas --

Michigan Congressman Wants 50-Cent Tax Hike on Every Gallon of Gas
Wednesday, March 19, 2008



ADVERTISEMENTA Michigan congressman wants to put a 50-cent tax on every gallon of gasoline to try to cut back on Americans' consumption.

Polls show that a majority of Americans support policies that would reduce greenhouse gases. But when it comes to paying for it, it's a different story.

Rep. John Dingell, D-Mich., wants to help cut consumption with a gas tax but some don't agree with the idea, according to a new poll by the National Center for Public Policy Research.

The poll, scheduled to be released on Thursday, shows 48 percent don't support paying even a penny more, 28 percent would pay up to 50 cents more, 10 percent would pay more than 50 cents and 8 percent would pay more than a dollar.

"I don't want to pay more, I don't think anyone wants to," said Karen Deacon, a motorist.

"I think that wouldn't make any sense," said Frankie Hoe, a motorist. "Ugh ... who's making the money from all this and where is that money going? Is it going to go green? I don't see any green things anywhere."

The automobile is the nation's biggest polluter; Americans use more gas than the next 20 countries combined.

Some environmentalists and economists say pain at the pump may be bad for Americans, but good medicine for a sick planet.

But others say it wouldn't change much. Even if Americans abandoned their cars, global emissions would fall by less than one percent.

"A tax on gas is a way to reduce dependence on import oil, reduce traffic congrestion and reduce carbon emissions," said Lester Brown, president of the Earth Policy Institute.

The Earth Policy Institute proposes raising the gas tax 30 cents per gallon each year over a decade and offset with a reduction of income taxes, Brown said.

David Ridenour, vice president of the National Center for Public Policy Research, said the proposal wouldn't help long term.

"I think when you are talking about raising gas prices, there may be short-term reduction, put off vacations, but bottom line is over long term, that isn't going to have much of an effect," Ridenour said.

While Dingell's idea will likely lie dormant until after the 2008 election, the idea of carbon taxes is not. Hillary Clinton, Barack Obama and John McCain all support some type of system that either directly or indirectly will raise prices to penalize polluters.
 

JCDunkDogs

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Gas prices and driving habits...its a topic worthy of its own thread...I know that if gas goes over $4 gal. anyone with a hybrid or other more fuel efficient vehicle better get a car alarm.
 
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