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Originally posted by Phedreus
reply to post by camaro68ss
Like me my accountant and tax lawyer are very good at their jobs. I trust their opinions. Their projections, and highly qualified opinions pointed to an ever increasing social debt load, with more and more government policies which would strangle business growth. Coupled with the continuing economic slowdown what reasonable person in a posistion to do so would not look to the welfare of his family first. When your own accountant and lawyer, (both good friends) are telling you its time to get out and they themselves are making preperations to do the same, I take their advice seriously.
Originally posted by Whiffer Nippets
Nope. Sorry. I ran this by an accountant. I am correct.
And if he claims to have enough "income" to support his supposed lifestyle - yeah - he ain't going in no 'poor bracket'.
Besides which - he stated himself that his accountants do not know what their doing.
This story is nothing but a fantasy built to Propagandize against so called "Socialists".
Again, it's an interesting story - but there are far too many holes in it.
If you're going to try and float BS it actually helps if you know what you are talking about.
That's his biggest mistake - he knows no details. Anyone with a supposedly mid sized and successful business who's been doing it for 30 years has absolutely got to know some basics of accounting. They would not say - "my accountants set it up in such a way" - he would use more detail.
And - he's liquidating this biz due to the upcoming health care plan? Yeah - that's how many years off? And yes a competent accountant would know how to work with this.
Who in the heck is going to listen to an "accountant" who claims they don't know what to do and they have no data?
Right. That's exactly what I'd do. Liquidate my biz because my accountant says they have no data and don't know what to do. Sure.
This story is pure fiction.
The Court ruled that no such contract exists, and that there is no contractual right to receive Social Security payments. Payments due under Social Security are not “property” rights and are not protected by the Takings Clause of the Fifth Amendment. The interest of a beneficiary of Social Security is protected only by the Due Process Clause.
Teleport back to 2009 January. Lets Imagine Obama takes a part of what he's spent: 4 trillion dollars. Now lets say we spent 10 million to higher 5 think tanks made of random people a told them to select 20 companies, like Tesla car, or other innovation companies. We split it up and give each company 190 billion dollars of what's left of the 4 trill. Banks invest, companies succeed, new jobs, no bailouts, and still 9 billion to spare.
Those inovational companies replace the dying, now dead corporations we bailed out. Their facilities are bought by these next-gen corporations, and new jobs become available to new companies. We get oil independence from Cars like Tesla Car inc, we get exports of such cars, we have manufacturing come back to America, and essentially new technology and a new world power called the US.
But no. We did not do this. We bailed out failing companies that failed us again. sadface.
Lets go back further, to the Panic of 1907. Same thing now. The federal reserve was created to try and stop it. However, all that did was cause overproduction, and the great depression. It is all happening again. We are once again in 1907-1909. We should not repeat past mistakes. Investing in these companies would skip 20 years worth of repeating history.
There's just one problem, of course. Over production. But luckily for us, we are in a different global market than then. So over consumption would not be a problem with 2 billion oil dependent people in India and China.
What we have done is only make these problems involve more money, not stop them. There will be a great depression in a few years, just as the 1907 crisis lead to it.
Originally posted by golddustgecko
I went into a bakery the other day. It was new to me. I said, How long have you been in business? He said a year. I said I never heard of you until recently. He said he did not advertise, because then he got more business than he and his wife could handle, and he did not want to hire anyone because he would have to pay more in taxes. (Pissed me off, as make my living by creating advertising.) Then he began whining about taxes and bad government. By that point, I was losing my appetite for the baked goods. Nonetheless, I bought a couple eclairs. But will never go back, ever.
Now, down the street a mile or two, is another new bakery. The lady who runs it employs several young people, and the place is full of life and creativity. They are doing great.
A year from now, the selfish man and wife will have moved on, and the other new bakery will still be there, supported by the community. This is how it rolls in a small town here.
Originally posted by krunchy
You sound more like an angry child than a competent businessman. You claim that economic doom and gloom lies ahead, yet you willingly close a profitable buinsess that you admit has no debt. Selling this business would have gained you some profit, but instead of acting rationally you take your ball and go home.
Sorry I just don't buy anything you're saying. Oh and your sig quote from an admitted racist pretty much seals the case.
Originally posted by ChrisCrikey
Good riddance Galt's Gulch fantacists. Contrary to your opinions and Randian beliefs there are still plenty of good, productive, creative and intelligent people to take your place. If anything there are hundreds of thousands qualified, motivated and overqualified who are still willing to participate, strive to make a better world, better laws and a work for sustainable businesses to take your place.
Oh, I will say the OP is certainly entitled to enjoy the SS paid into and to benefit from the trust and bond created between generations. Do they wish the trust to be fulfilled for future generations or will they just take theirs and turn their back on that trust in the future? Just wondering how far this philosophy goes in this case.