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Post by nitro27 on Jun 30, 2019 6:34:30 GMT -6
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Post by chummer16 on Jun 30, 2019 7:40:54 GMT -6
The guy that started Home Depot said the same thing. I don’t remember how he worded it, but he said these socialists are the enemy of all businesses and corporations. He is spot on. so what's the safe bet. I only have 60k in individual stocks. I plan on picking an exit spot any time next summer to sell. I will sit out until after the election and then pick a soft spot to get back in. Not sure what if anything to do with the IRA’s. I’m 43 so probably limited what I can do there. If I were close to retirement I would be moving stuff to cover the crash that is coming if Trump loses. If he wins then we have 4 more years of growth to ride.
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Post by Freeborn on Jun 30, 2019 7:59:17 GMT -6
I only have 60k in individual stocks. I plan on picking an exit spot any time next summer to sell. I will sit out until after the election and then pick a soft spot to get back in. Not sure what if anything to do with the IRA’s. I’m 43 so probably limited what I can do there. If I were close to retirement I would be moving stuff to cover the crash that is coming if Trump loses. If he wins then we have 4 more years of growth to ride. There is no way a socialist will win this next election, that's why the Dems want a moderate like Biden. The polls are wrong as they are national and the election is based on an electoral college. The polls are often inaccurate as people today are uncomfortable indicating what they truly believe because people are afraid of the rath of the current culture. Our media is truly treasonous in their behavior by enabling this culture crap and their monopoly (to few of owners compared to historic times) Needs to be broken up. Currently the credibility of the press is very low. Like ATT and others the government needs to step in and diversify media ownership. I'm hoping this occurs if Trump gets reelected. Can Trump lose, only by a quality moderate Democratic candidate which I don't see.
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Post by sd51555 on Jun 30, 2019 8:12:54 GMT -6
I only have 60k in individual stocks. I plan on picking an exit spot any time next summer to sell. I will sit out until after the election and then pick a soft spot to get back in. Not sure what if anything to do with the IRA’s. I’m 43 so probably limited what I can do there. If I were close to retirement I would be moving stuff to cover the crash that is coming if Trump loses. If he wins then we have 4 more years of growth to ride. www.choosefi.com/how-and-why-to-set-up-a-roth-ira-conversion-ladder/When I was in the process of converting my old 401k to a roth IRA, I kept conversion forms pre-filled out on my computer, and in my bag. When the markets or individual companies would take a shit (10% or more) I'd quickly do a conversion on whatever fell. It enabled me to slide shares under the tax fence at nice discounts. Here's a good example that just happened in Marathon Petroleum. It was rolling around at $60+/share for the longest time, and then the bottom fell out. Convert "x" number of shares at $63 x tax @ 30% = $18.90/share Convert "x" number of shares at $46 x tax @ 30% = $13.80/share
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Post by sd51555 on Jun 30, 2019 8:21:49 GMT -6
Shit, here's the chart. We've likely gotten the last tax cut we'll ever get. An even bigger problem is emerging than the baby boomers and their issues. The illness bills aren't hitting people in their 60's anymore. It's hitting in people's 30s. It's going to take immense amounts of money to keep people alive for 50-60 years after age 30 for all the ailments that are now more common than not. With all that shit going on, I don't want to hold an open promise to future tax rates.
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Post by Freeborn on Jun 30, 2019 8:56:56 GMT -6
Shit, here's the chart. We've likely gotten the last tax cut we'll ever get. An even bigger problem is emerging than the baby boomers and their issues. The illness bills aren't hitting people in their 60's anymore. It's hitting in people's 30s. It's going to take immense amounts of money to keep people alive for 50-60 years after age 30 for all the ailments that are now more common than not. With all that shit going on, I don't want to hold an open promise to future tax rates. What are we looking at?
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Post by sd51555 on Jun 30, 2019 9:04:33 GMT -6
Shit, here's the chart. We've likely gotten the last tax cut we'll ever get. An even bigger problem is emerging than the baby boomers and their issues. The illness bills aren't hitting people in their 60's anymore. It's hitting in people's 30s. It's going to take immense amounts of money to keep people alive for 50-60 years after age 30 for all the ailments that are now more common than not. With all that shit going on, I don't want to hold an open promise to future tax rates. What are we looking at? Opportunistic converting to minimize tax costs. That's a price chart on Marathon Petroleum showing the good and bad, and how to turn the bad into tax savings on an otherwise decent company.
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Post by Sandbur on Jun 30, 2019 11:56:45 GMT -6
I only have 60k in individual stocks. I plan on picking an exit spot any time next summer to sell. I will sit out until after the election and then pick a soft spot to get back in. Not sure what if anything to do with the IRA’s. I’m 43 so probably limited what I can do there. If I were close to retirement I would be moving stuff to cover the crash that is coming if Trump loses. If he wins then we have 4 more years of growth to ride. There is no way a socialist will win this next election, that's why the Dems want a moderate like Biden. The polls are wrong as they are national and the election is based on an electoral college. The polls are often inaccurate as people today are uncomfortable indicating what they truly believe because people are afraid of the rath of the current culture. Our media is truly treasonous in their behavior by enabling this culture crap and their monopoly (to few of owners compared to historic times) Needs to be broken up. Currently the credibility of the press is very low. Like ATT and others the government needs to step in and diversify media ownership. I'm hoping this occurs if Trump gets reelected. Can Trump lose, only by a quality moderate Democratic candidate which I don't see. I am not so sure Trump can win after talking to some of my (wrong thinking) relatives and in laws. Of course, this is Minnesota.
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Post by badgerfowl on Jun 30, 2019 12:56:53 GMT -6
Trump should win in a landslide. Only thing that might make it interesting is if the economy tanks.
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Post by Freeborn on Jun 30, 2019 13:03:35 GMT -6
There is no way a socialist will win this next election, that's why the Dems want a moderate like Biden. The polls are wrong as they are national and the election is based on an electoral college. The polls are often inaccurate as people today are uncomfortable indicating what they truly believe because people are afraid of the rath of the current culture. Our media is truly treasonous in their behavior by enabling this culture crap and their monopoly (to few of owners compared to historic times) Needs to be broken up. Currently the credibility of the press is very low. Like ATT and others the government needs to step in and diversify media ownership. I'm hoping this occurs if Trump gets reelected. Can Trump lose, only by a quality moderate Democratic candidate which I don't see. I am not so sure Trump can win after talking to some of my (wrong thinking) relatives and in laws. Of course, this is Minnesota. Would your family prefer more illegal immigrants, more taxes, a slower economy, lower wages, rapararion, redistribution of income etc? The media chooses the opposite side of whatever Trump does. If you look at the stats citizens are better off now than under Obama, wages are better and trending in the right direction, macro economic trends are particularly good and if maintained will help Americans much more than redistribution. You want to kill the middle class, elect a Democrat and watch the tax and redistribution machine take off. Sad times when people only care about free stuff. It seems people don't recognize or care about the difference between a legitimate path to help all citizens vs payments to buy power. "Capitalism is the best path to Prosperity". The alternative is a pathway to provide power to politicians.
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Post by MoBuckChaser on Jun 30, 2019 16:10:23 GMT -6
"Capitalism is the best path to Prosperity".
Yes, but being in the 35% tax bracket, I sure am wondering about that statement now.
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Post by Sandbur on Jun 30, 2019 16:38:33 GMT -6
I quit talking to some of them about politics. It is hopeless. I don’t talk to them much anyway.
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Post by sd51555 on Jun 30, 2019 16:54:57 GMT -6
I quit talking to some of them about politics. It is hopeless. I don’t talk to them much anyway. They live in a bubble. They likely don't spend much time in liberal strongholds. If they did, they'd have a change of heart quickly. Send them down to the Eden Prairie Walmart or the Minneapolis farmers market around 1pm on Sundays. Not many pockets of stupid people left out there, but they exist. Rural MN has quite a bit yet. If they don't see the problems, and nobody tells them there are problems, then there are no problems.
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Post by Freeborn on Jun 30, 2019 18:20:23 GMT -6
"Capitalism is the best path to Prosperity". Yes, but being in the 35% tax bracket, I sure am wondering about that statement now. If a Democrat gets elected you haven't seen anything. There is a historical record of rates as high as 90%, terrifying isn't it? The current group has talked of rates as high as 70%, talk about an economy killer. 35% stinks but your more successful than most.
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Post by Foggy on Jun 30, 2019 18:48:00 GMT -6
I remember when the federal tax rates were about 70% for the top income tax payers.......and that was back about 1976 or so? Anyway.....I knew folks that would rather buy over-priced art (Picasso was huge then) and try their hands at oil and gas drilling and such.....rather than give the government 70% tax on their earnings. I had a friend that sold goofy art like that....and he made a good living. Folks wasted allot of money on screwy stuff back then.....but what are the alternatives? I hope we dont go back to those times.
Been learning more about OZ and why I NEED to become a resident of that place rather than MN. One thing for sure.....the community property laws "with stepped up basis" at time of you or your spouses demise could be HUGE for some folks. (ESPECIALLY THOSE WITH FARM LAND - read that again!). I am going to file my taxes via OZ this next year as I will now meet all the criteria to be a resident of that state. Not sure why I waited so long. The tax savings will pay for my new home......and my family will appreciate the estate tax savings when I am gone (it's a big number). SCREW MN......I paid them enough already!....more than I should have.
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