Mike wants us to stay in debt because he hates Trump..

Make it make sense..

---

Mike wants us to stay in debt because he hates Trump..

Make it make sense..

No I don't.
I'd like to see the deficit meaningfully reduced and I don't care who does it.
These little million here, million there announcements aren't going to make a difference though.

---

My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

Mike wants us to stay in debt because he hates Trump..

Make it make sense..

No I don't.
I'd like to see the deficit meaningfully reduced and I don't care who does it.
These little million here, million there announcements aren't going to make a difference though.

Won't make a difference????? I had a habit of just dumping change out of my pockets at the end of the day just about anywhere in my apartment, coffee table, end table, home bar, dresser, you name it. After about 6 months I decided to grab one of my Crown Royal bags, gather it all up and use the coin machine at my bank. I was expecting maybe $20 - $25 total..... I was not really paying attention to the total as the coins were being counted...... I glanced over and it was above $50, in the end, I had about $70 in change just sitting around so...... A million here and a Million over there and any other place adds up one HELL OF A LOT FASTER then you think........... Get real Dude.... or They/Them..... whatever the hell your pronouns are........

---

Mike wants us to stay in debt because he hates Trump..

Make it make sense..

No I don't.
I'd like to see the deficit meaningfully reduced and I don't care who does it.
These little million here, million there announcements aren't going to make a difference though.

I have attempted to explain it to you, but have failed. I believe it is because of :

A. You have vary little experience operating a real business so do not understand the impact of costs on an ongoing concern.
B. Have a closed mind and are just a useful idiot.
C. Know this is helping and believe by ignoring real issues you can con the rest of us into buying in to your view of the world.
D. Just a troll with pulling people's chain.

Doesn't matter.  You cannot scare us as you do not make much sense at all. Below is a link to a summary of the GAO report which tells us all that 25% of our current deficit is just the items you feel are immaterial.  The actual report is available online and you can read it yourself.

Quit being a pigeon. You are actually better than that.

https://www.cagw.org/in-the-news/2024-09-06-000000-0

---

A new broom always sweeps clean.

more to come, not going to stop, not going to wait.

Secretary Doug Burgum
@SecretaryBurgum
·
4h
Tyler and the @Interior
@DOGE
team work tirelessly every day (including weekends!) to save taxpayer dollars and help balance the federal budget so we can pay down the national debt.

They’re individually reviewing 36,000+ Interior grants and contracts and have identified massive amounts of waste, fraud, and abuse already!

Tyler talked about this common sense effort of government efficiency last night with @ElonMusk
and @BretBaier
??

---

A new broom always sweeps clean.

The beat goes on.


Department of Government Efficiency
@DOGE
Contract update!

Over the last 3 days, agencies terminated 121 wasteful contracts with a ceiling value of $351M and savings of $156M, including a $1.6M DEI contract for “strategies for implementing ‘social emotional’ learning”, and a $143K Dept. of Transportation contract for “social media support services”.

---

A new broom always sweeps clean.

Meat Puppet's handlers were tossing those gold bars over the side. 

Here’s who’s on Elon Musk's DOGE team: 7 names

...Tyler Hassen, a former oil executive, is working at the Interior Department for DOGE. Politico’s E&E News reported earlier this month that he was promoted to acting assistant secretary of policy, management and budget at the agency.

He alleged Thursday there was no departmental oversight at the Interior Department “whatsoever” under the Biden administration.

“We are now reviewing every single contract, every single grant, and when things come to my attention that don’t make sense, I’m bringing them to Secretary [Doug] Burgum,” Hassen said.

---

Meat Puppet's handlers were tossing those gold bars over the side. 

Here’s who’s on Elon Musk's DOGE team: 7 names

...Tyler Hassen, a former oil executive, is working at the Interior Department for DOGE. Politico’s E&E News reported earlier this month that he was promoted to acting assistant secretary of policy, management and budget at the agency.

He alleged Thursday there was no departmental oversight at the Interior Department “whatsoever” under the Biden administration.

“We are now reviewing every single contract, every single grant, and when things come to my attention that don’t make sense, I’m bringing them to Secretary [Doug] Burgum,” Hassen said.

This is a good line up of like Elon, successful businessmen who do not need the money. They are patriots that are operating for free. They are trying to bring our government into this century. The interview link I posted earlier of the Bret Bair interview is a must listen if a person wants to get a feel for what is going on and the approach. It is a far cry from what has been portrayed in the legacy media and by the democrats. I feel many are just criticizing based on propaganda without taking the time to see for themselves. Those people are just idiots whose opinions do not deserve our consideration.

Their overall goal is a 15% reduction in costs. (1 trillion) Actually sounds pretty doable seeing as most every process has not been updated for decades.

---

A new broom always sweeps clean.

---

Mike wants us to stay in debt because he hates Trump..

Make it make sense..

No I don't.
I'd like to see the deficit meaningfully reduced and I don't care who does it.
These little million here, million there announcements aren't going to make a difference though.

"A journey of a thousand miles begins with a single step."  Laozi

The numbers are far greater than the million here, million there, that you allege.  Regardless of the actual dollars amounts, the message is clear and it's one of hope for the average citizen.  The era of wasteful government spending, without oversight or accountability, is over.   

It's obvious that you do care and can't stand the thought of Trump being successful.  There's a new sheriff in town, get used to it.

---

When you get into the endzone, act like you've been there before.

One thing is for sure, the funds to pay protestors must be pretty tough for Democrats to come by these days. Has anyone else noticed that a majority of the protestors outside the Tesla dealerships are mostly older lefties who don't seem to have anything better to do? I didn't see any black-hooded young punks with face coverings threatening violence. George Soros needs to dig a little deeper.

---

One thing is for sure, the funds to pay protestors must be pretty tough for Democrats to come by these days. Has anyone else noticed that a majority of the protestors outside the Tesla dealerships are mostly older lefties who don't seem to have anything better to do? I didn't see any black-hooded young punks with face coverings threatening violence. George Soros needs to dig a little deeper.

Saw video of a a couple locations where the Elon/Trump supporters vastly outnumbered the protestors. The supporter were between the Tesla dealership and the protestors. Seems if they are outnumbered they get a bit skittish ... LOL  only brave when they outnumber....

The issue the protestors had were numbers since they can't afford to pay them like the last time. Also, since the DOJ is going to look for money ties they have to be extremely careful as the money leaves tracks. These are the same people that protest everything.

---

A new broom always sweeps clean.

I need to know a little more about the $1 billion spent on a 10 question online survey whose results weren't used for anything. Was $1 billion in fact spent on this? Who in government said "we need this survey"? Who in government looked at the bid and said "sounds reasonable"? Who in government approved the bid? Who in government looked the other way? Who is the company that put the survey together and felt emboldened enough to ask for $1 billion for their time and effort? If what is reported is in fact true, all involved should be investigated, cavity searched and likely put in jail for a very long time because I would find it extremely hard to believe that there wasn't an intent to defraud somewhere along the line.

---

The way to decrease the deficit is to close the tax loopholes.
The Republicans are lying when they say it can be done by cutting little nickel and dime grants. That won't work, because the things Republicans are cutting are just too small. The Democrats are lying when they say can be done by increasing top marginal rates. That won't work because only professional athletes are really paying those top marginal rates, everybody else is hiding their earnings as other things.
The loopholes are the big deal.
Close the carried interest loophole, and start collecting capital gains tax on any asset used as collateral on a loan (tax the change in value between when it was purchased and when the lender assessed it). There are other similar loopholes to close.

---

My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

The way to decrease the deficit is to close the tax loopholes.
The Republicans are lying when they say it can be done by cutting little nickel and dime grants. That won't work, because the things Republicans are cutting are just too small. The Democrats are lying when they say can be done by increasing top marginal rates. That won't work because only professional athletes are really paying those top marginal rates, everybody else is hiding their earnings as other things.
The loopholes are the big deal.
Close the carried interest loophole,  and start collecting capital gains tax on any asset used as collateral on a loan (tax the change in value between when it was purchased and when the lender assessed it). There are other similar loopholes to close.

Tax an unrealized gain?  That's a stretch, even for you.  

If the change in value is negative, will I get a tax refund?

---

When you get into the endzone, act like you've been there before.

The way to decrease the deficit is to close the tax loopholes.
The Republicans are lying when they say it can be done by cutting little nickel and dime grants. That won't work, because the things Republicans are cutting are just too small. The Democrats are lying when they say can be done by increasing top marginal rates. That won't work because only professional athletes are really paying those top marginal rates, everybody else is hiding their earnings as other things.
The loopholes are the big deal.
Close the carried interest loophole,  and start collecting capital gains tax on any asset used as collateral on a loan (tax the change in value between when it was purchased and when the lender assessed it). There are other similar loopholes to close.

Tax an unrealized gain?  That's a stretch, even for you.  

If the change in value is negative, will I get a tax refund?

Taking out a loan with the asset as collateral should be considered realizing the gain, but only for the fraction of the asset that was actually offered as collateral. 

For instance if I bought a thousand shares of Acme Corporation at $100 each, and more than a year later they have appreciated to $500 each, that is an unrealized gain of $400,000. I'm not saying that should be taxed. I'm saying that if I choose to take out a $200,000 loan, and I offer my shares of Acme Corporation as collateral, then a fraction of my unrealized $400,000 gain is effectively realized at that point, and I should be taxed on it. In this case the fraction would be $200,000 / $500,000 equals 40% of the $400,000 gain which would be $160,000.  The rate on that should be roughly 25%, So it becomes a $40,000 tax liability to create $200,000 of income off of my $500,000 asset. Today that tax liability for $200,000 of income would be zero. The fact that we don't tax that now is pretty unfair.  

You can read more about this, it is called the buy, borrow, die strategy. Google is your friend. 

To answer your question, if you realize a loss, yes that becomes a tax deduction. If my proposal were enacted, and you took out a loan offering a depreciated asset as collateral, yes that could and should become a realized loss and therefore a tax deduction.

---

My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

The way to decrease the deficit is to close the tax loopholes.
The Republicans are lying when they say it can be done by cutting little nickel and dime grants. That won't work, because the things Republicans are cutting are just too small. The Democrats are lying when they say can be done by increasing top marginal rates. That won't work because only professional athletes are really paying those top marginal rates, everybody else is hiding their earnings as other things.
The loopholes are the big deal.
Close the carried interest loophole,  and start collecting capital gains tax on any asset used as collateral on a loan (tax the change in value between when it was purchased and when the lender assessed it). There are other similar loopholes to close.

So you don't want the nickle and dime stuff cut? what an attitude, just keep on wasting...lol

Yes tax the rich. LOL the top 50% of earners pay about 97.5% of the taxes. The Dems have run on this forever. I remember Clinton actually doing this. He got a law passed that said only 1 million dollars of executive compensation could be deducted as a business expense. Sound quite aggressive until you realize the law excluded free stock. So his donors just switched the compensation contracts. Next time you hear a Dem saying this know they are assuming you are too uneducated to realize the scam. Smoke and mirrors guys. Actually the Republican's idea of no tax on tips and none on SSI is refreshing that actually has an impact. 

interesting chart here. This is the reason Trump floated no taxes for those earning under $150,000 a year. 
https://usafacts.org/articles/who-pays-t...ncome-tax/

Clinton also fired about 350,000 federal employees. I didn't see any judges speaking out then.

---

A new broom always sweeps clean.

Tax an unrealized gain?  That's a stretch, even for you.  

If the change in value is negative, will I get a tax refund?

Taking out a loan with the asset as collateral should be considered realizing the gain, but only for the fraction of the asset that was actually offered as collateral. 

For instance if I bought a thousand shares of Acme Corporation at $100 each, and more than a year later they have appreciated to $500 each, that is an unrealized gain of $400,000. I'm not saying that should be taxed. I'm saying that if I choose to take out a $200,000 loan, and I offer my shares of Acme Corporation as collateral, then a fraction of my unrealized $400,000 gain is effectively realized at that point, and I should be taxed on it. In this case the fraction would be $200,000 / $500,000 equals 40% of the $400,000 gain which would be $160,000.  The rate on that should be roughly 25%, So it becomes a $40,000 tax liability to create $200,000 of income off of my $500,000 asset. Today that tax liability for $200,000 of income would be zero. The fact that we don't tax that now is pretty unfair.  

You can read more about this, it is called the buy, borrow, die strategy. Google is your friend. 

To answer your question, if you realize a loss, yes that becomes a tax deduction. If my proposal were enacted, and you took out a loan offering a depreciated asset as collateral, yes that could and should become a realized loss and therefore a tax deduction.

First of all, to get a loan using stock as collateral, a bank will typically want double the loan amount at the current trading price.  For a 200k loan, that means 400k stock for security, so your tax calculation is wrong. 

Second, borrowed money is NOT income.  Income you can keep, borrowed funds have to be paid back.  It only becomes taxable income if the debt is forgiven by the lender, in which case you should receive a 1099-C.

Third, you just killed the home-equity loan business.  

Now let's talk about losses.  Under your plan, if I paid 50k for a new car (or boat, tractor, RV, etc.) a few years ago, and now it's worth 20k, I could take out a loan against it and the IRS would send me a refund for my "loss"?  SWEET!

---

When you get into the endzone, act like you've been there before.

Taking out a loan with the asset as collateral should be considered realizing the gain, but only for the fraction of the asset that was actually offered as collateral. 

For instance if I bought a thousand shares of Acme Corporation at $100 each, and more than a year later they have appreciated to $500 each, that is an unrealized gain of $400,000. I'm not saying that should be taxed. I'm saying that if I choose to take out a $200,000 loan, and I offer my shares of Acme Corporation as collateral, then a fraction of my unrealized $400,000 gain is effectively realized at that point, and I should be taxed on it. In this case the fraction would be $200,000 / $500,000 equals 40% of the $400,000 gain which would be $160,000.  The rate on that should be roughly 25%, So it becomes a $40,000 tax liability to create $200,000 of income off of my $500,000 asset. Today that tax liability for $200,000 of income would be zero. The fact that we don't tax that now is pretty unfair.  

You can read more about this, it is called the buy, borrow, die strategy. Google is your friend. 

To answer your question, if you realize a loss, yes that becomes a tax deduction. If my proposal were enacted, and you took out a loan offering a depreciated asset as collateral, yes that could and should become a realized loss and therefore a tax deduction.

First of all, to get a loan using stock as collateral, a bank will typically want double the loan amount at the current trading price.  For a 200k loan, that means 400k stock for security, so your tax calculation is wrong. 

Second, borrowed money is NOT income.  Income you can keep, borrowed funds have to be paid back.  It only becomes taxable income if the debt is forgiven by the lender, in which case you should receive a 1099-C.

Third, you just killed the home-equity loan business.  

Now let's talk about losses.  Under your plan, if I paid 50k for a new car (or boat, tractor, RV, etc.) a few years ago, and now it's worth 20k, I could take out a loan against it and the IRS would send me a refund for my "loss"?  SWEET!

The people writing the law would be free to use either the loan amount or the bank-demanded multiple of the loan amount in their tax calculation. I suggest the loan amount, which results in a lower tax.

As far as HELOCs, if it's a primary residence, its gains already aren't taxable, regardless of if the gains were realized as a sale or as a loan.

If it was a business vehicle, you could already claim its depreciation as a loss.  For a personal vehicle you can not.

Got any more misinformation?

---

My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

First of all, to get a loan using stock as collateral, a bank will typically want double the loan amount at the current trading price.  For a 200k loan, that means 400k stock for security, so your tax calculation is wrong. 

Second, borrowed money is NOT income.  Income you can keep, borrowed funds have to be paid back.  It only becomes taxable income if the debt is forgiven by the lender, in which case you should receive a 1099-C.

Third, you just killed the home-equity loan business.  

Now let's talk about losses.  Under your plan, if I paid 50k for a new car (or boat, tractor, RV, etc.) a few years ago, and now it's worth 20k, I could take out a loan against it and the IRS would send me a refund for my "loss"?  SWEET!

The people writing the law would be free to use either the loan amount or the bank-demanded multiple of the loan amount in their tax calculation. I suggest the loan amount, which results in a lower tax. 

As far as HELOCs, if it's a primary residence, its gains already aren't taxable, regardless of if the gains were realized as a sale or as a loan.

If it was a business vehicle, you could already claim its depreciation as a loss.  For a personal vehicle you can not.

Got any more misinformation?

Your providing quite enough...

---

A new broom always sweeps clean.