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Barack Obama is Brilliant Thread; HUH?
Topic Started: Mar 3 2011, 11:12 PM (16,448 Views)
kbp

Baldo
Mar 24 2012, 09:41 AM
General Mills - One the world's largest food companies says their input cost inflation rate is 10-11%. Their brand portfolio includes more than 100 leading U.S. brands and numerous category leaders around the world
http://www.zerohedge.com/contributed/2012-12-23/no-inflation-general-mills-begs-differ

In fiscal 2011, global net sales for General Mills were $14.9 billion.

We're one of the largest food companies in the world, marketing in more than 100 countries.
http://www.generalmills.com/en/Company/Businesses.aspx


But Uncle Ben says inflation is under control. Of course when you can arbitrarily set interests rate near zero who cares at the Fed.

Lucy somebody got some explain' to do!!

Of course any of us peons who buy our own gas & shop for our food understand our cost of living in those two sectors, which effect us everyday, are soaring,
I buy all the groceries in the household (and do the cooking). Over a period of less than 12 months all prices have went up, especially in the produce department (fresh fruits & veg's). Both the apple juice and tortilia chips I buy were $o.99 less than a year ago; two specific products I buy weekly. The chips have gone up to $1.19 and the juice $1.49.

Unfortunately, all row crops (grains) were already going up due to the "green" gas they use the corn for ..that gas we all get to help pay for!
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Kerri P.
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http://news.yahoo.com/top-obama-campaign-donor-accused-fraud-204442621.html
Top Obama campaign donor accused of fraud
By JACK GILLUM | Associated Press – 5 hrs ago

WASHINGTON (AP) — A major donor to President Barack Obama has been accused of defrauding a businessman and impersonating a bank official, creating new headaches for Obama's re-election campaign as it deals with the questionable history of another top supporter.

The New York donor, Abake Assongba, and her husband contributed more than $50,000 to Obama's re-election effort this year, federal records show. But Assongba is also fending off a civil court case in Florida, where she's accused of thieving more than $650,000 to help build a multimillion-dollar home in the state — a charge her husband denies.

Obama is the only presidential contender this year who released his list of "bundlers," the financiers who raise campaign money by soliciting high-dollar contributions from friends and associates. But that disclosure has not come without snags; his campaign returned $200,000 last month to Carlos and Alberto Cardona, the brothers of a Mexican fugitive wanted on federal drug charges.

snip...
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kbp

Email I received...


Quote:
 
HOME SALES TAX

I thought you might find SICKENING!

The National Association of Realtors is all over this and working to get it repealed, -- before it takes effect. But, I am very pleased we aren't the only ones who know about this ploy to steal billions from unsuspecting homeowners. How many realtors do you think will vote Democratic in 2012?

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill, -- and it goes into effect in 2013. Why 2013? Could it be so that it doesn’t come to light until after the 2012 elections? So, this is ‘change you can believe in’?

Under the new health care bill all real estate transactions will be subject to a 3.8% sales tax.

If you sell a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation, -- who often downsize their homes. Does this make your November, 2012 vote more important?

Oh, you weren't aware that this was in the Obama Care bill? Guess what; you aren't alone! There are more than a few members of Congress that weren't aware of it either.

Verified at : http://www.truthorfiction.com/rumors/h/health-plan.htm


It seems like it will only hit singles above $200,000 and couples above $250,000. I'm not sure how it alters the one time sale exemption.

Anyway, I'd seen mention of the capital gains tax increase but, no political adds telling how that applies to selling your home. Seems like it would have been a good topic to toss out again and again.
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cks
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This will also affect those who inherit as many often sell a parent's home (upon death) as part of settling the estate since they (the surviving) often have their own places of residence and in order to disperse the assets equally need for that sale to take place.
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kbp

cks
Apr 2 2012, 09:48 AM
This will also affect those who inherit as many often sell a parent's home (upon death) as part of settling the estate since they (the surviving) often have their own places of residence and in order to disperse the assets equally need for that sale to take place.
As a general rule (unless it changed also!), the VALUE of the property sold is that it holds on the date of the death (the personal residence of the deceased). It's like any capital gain acquired between the date it was purchased and the death is ....buried.

If the estate settlement is held up and the property appreciates in value, that gain is taxable.

I'm NOT an accountant, but that is how I have always understood it.

Property owned as a business, like rentals, will be hit.
Edited by kbp, Apr 2 2012, 10:25 AM.
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Baldo
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Remember back in Feb 2010?

Speaking about the economy at an event in New Hampshire, Mr Obama told Americans: "When times are tough, you tighten your belts.

"You don't go buying a boat when you can barely pay your mortgage. You don't blow a bunch of cash on Vegas when you're trying to save for college. You prioritise. You make tough choices."...snipped
http://www.telegraph.co.uk/news/worldnews/barackobama/7149616/Barack-Obama-tells-Americans-dont-go-to-Las-Vegas.html


GSA head resigns amid reports of lavish spending


A senior government official resigned Monday after a report concluded her agency improperly paid for an "over-the-top" training session near Las Vegas that featured a mind reader, bicycle giveaways and lavish after-hour receptions in resort suites for federal workers.

The White House accepted General Services Administration chief Martha Johnson's resignation after she dismissed two deputies and suspended other career employees over an $820,000 conference. The 300-person event at the M Resort Spa and Casino in Henderson, Nev., included a $95-per-person dinner and reception as well as various violations of federal laws and policies.

...The planners spent more than $136,000 on a pre-conference visit to Las Vegas, including $57 lunches, according to an internal review first reported by The Washington Post.

That report also found "redundant and wasteful" practices, such as hiring outside event planners when the agency already has in-house workers for those tasks. Those outside planners received a $12,000 commission from the resort, which the investigators said "strongly indicates that further discounts might have been available to GSA if GSA had contracted the hotel directly."...snipped

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/04/02/national/w133642D42.DTL&tsp=1


Inspector general's Report came out today, that's why!

http://www.federalnewsradio.com/pdfs/040212_gsa_spending_IGreport.pdf

$44 per person for breakfast! In Henderson!! Are you kidding me?
Edited by Baldo, Apr 2 2012, 11:55 PM.
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kbp

It sounds like quite a bargain to take 300 people on a vacation trip for $820,000. Maybe she should help Mobama plan vacations.
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cks
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kbp
Apr 2 2012, 10:24 AM
cks
Apr 2 2012, 09:48 AM
This will also affect those who inherit as many often sell a parent's home (upon death) as part of settling the estate since they (the surviving) often have their own places of residence and in order to disperse the assets equally need for that sale to take place.
As a general rule (unless it changed also!), the VALUE of the property sold is that it holds on the date of the death (the personal residence of the deceased). It's like any capital gain acquired between the date it was purchased and the death is ....buried.

If the estate settlement is held up and the property appreciates in value, that gain is taxable.

I'm NOT an accountant, but that is how I have always understood it.

Property owned as a business, like rentals, will be hit.
My point is this:

Let us say that the house one inherited is worth 350 thousand. One already has a home, therefore, no need for two and furthermore, does not want to assume the mess of renting it. One will be taxed on the sale of that home (according to the Obamacare package) over and beyond (that is the ten percent or whatever the figure is) the usual transfer taxes, etc. that one incurs on the sale of property.
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kbp

cks
Apr 3 2012, 05:10 AM
kbp
Apr 2 2012, 10:24 AM
cks
Apr 2 2012, 09:48 AM
This will also affect those who inherit as many often sell a parent's home (upon death) as part of settling the estate since they (the surviving) often have their own places of residence and in order to disperse the assets equally need for that sale to take place.
As a general rule (unless it changed also!), the VALUE of the property sold is that it holds on the date of the death (the personal residence of the deceased). It's like any capital gain acquired between the date it was purchased and the death is ....buried.

If the estate settlement is held up and the property appreciates in value, that gain is taxable.

I'm NOT an accountant, but that is how I have always understood it.

Property owned as a business, like rentals, will be hit.
My point is this:

Let us say that the house one inherited is worth 350 thousand. One already has a home, therefore, no need for two and furthermore, does not want to assume the mess of renting it. One will be taxed on the sale of that home (according to the Obamacare package) over and beyond (that is the ten percent or whatever the figure is) the usual transfer taxes, etc. that one incurs on the sale of property.
As I'm understanding it, leaving myself open for correction as the non-expert here(!), Obama added 3.8% taxes to Capital Gains. Normally the Capital Gain is the increase in sale price above purchase price. I believe in estates the so called "purchase price" I mentioned as being used to determine Capital Gains is replaced with the appraised value at the time of death.
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kbp

Obamanomics plan: 'cash for clunkers' !
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cks
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kbp
Apr 3 2012, 07:42 AM
cks
Apr 3 2012, 05:10 AM
kbp
Apr 2 2012, 10:24 AM
cks
Apr 2 2012, 09:48 AM
This will also affect those who inherit as many often sell a parent's home (upon death) as part of settling the estate since they (the surviving) often have their own places of residence and in order to disperse the assets equally need for that sale to take place.
As a general rule (unless it changed also!), the VALUE of the property sold is that it holds on the date of the death (the personal residence of the deceased). It's like any capital gain acquired between the date it was purchased and the death is ....buried.

If the estate settlement is held up and the property appreciates in value, that gain is taxable.

I'm NOT an accountant, but that is how I have always understood it.

Property owned as a business, like rentals, will be hit.
My point is this:

Let us say that the house one inherited is worth 350 thousand. One already has a home, therefore, no need for two and furthermore, does not want to assume the mess of renting it. One will be taxed on the sale of that home (according to the Obamacare package) over and beyond (that is the ten percent or whatever the figure is) the usual transfer taxes, etc. that one incurs on the sale of property.
As I'm understanding it, leaving myself open for correction as the non-expert here(!), Obama added 3.8% taxes to Capital Gains. Normally the Capital Gain is the increase in sale price above purchase price. I believe in estates the so called "purchase price" I mentioned as being used to determine Capital Gains is replaced with the appraised value at the time of death.
You are probably right - I am no accountant.......I just know that we are in a situation (inherited a property) that we are going to have to sell and if we don't get it sold before the end of the year, we will be paying the Obama tax in addition. :uhoh:
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kbp

cks
Apr 3 2012, 05:00 PM
kbp
Apr 3 2012, 07:42 AM
cks
Apr 3 2012, 05:10 AM
kbp
Apr 2 2012, 10:24 AM
cks
Apr 2 2012, 09:48 AM
This will also affect those who inherit as many often sell a parent's home (upon death) as part of settling the estate since they (the surviving) often have their own places of residence and in order to disperse the assets equally need for that sale to take place.
As a general rule (unless it changed also!), the VALUE of the property sold is that it holds on the date of the death (the personal residence of the deceased). It's like any capital gain acquired between the date it was purchased and the death is ....buried.

If the estate settlement is held up and the property appreciates in value, that gain is taxable.

I'm NOT an accountant, but that is how I have always understood it.

Property owned as a business, like rentals, will be hit.
My point is this:

Let us say that the house one inherited is worth 350 thousand. One already has a home, therefore, no need for two and furthermore, does not want to assume the mess of renting it. One will be taxed on the sale of that home (according to the Obamacare package) over and beyond (that is the ten percent or whatever the figure is) the usual transfer taxes, etc. that one incurs on the sale of property.
As I'm understanding it, leaving myself open for correction as the non-expert here(!), Obama added 3.8% taxes to Capital Gains. Normally the Capital Gain is the increase in sale price above purchase price. I believe in estates the so called "purchase price" I mentioned as being used to determine Capital Gains is replaced with the appraised value at the time of death.
You are probably right - I am no accountant.......I just know that we are in a situation (inherited a property) that we are going to have to sell and if we don't get it sold before the end of the year, we will be paying the Obama tax in addition. :uhoh:
I recall reading that he wanted to change the inheritance tax, but have no clue whether or not that might be what happens 1-1-13.

Sorry for your loss. I guess the bright side is you will have some sort of bounty you must worry about taxes on.
Edited by kbp, Apr 3 2012, 05:31 PM.
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LTC8K6
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Assistant to The Devil Himself
Posting these here as well as the healthcare bill thread. They might even deserve their own discussion.

Good stuff from Powerline:


Obama Walks Back Supreme Court Threat, Still Gets It Wrong

http://www.powerlineblog.com/archives/2012/04/obama-walks-back-supreme-court-threat-still-gets-it-wrong.php


Barack Obama, Constitutional Ignoramus

http://www.powerlineblog.com/archives/2012/04/barack-obama-constitutional-ignoramus.php
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kbp

LTC8K6
Apr 3 2012, 11:01 PM
Posting these here as well as the healthcare bill thread. They might even deserve their own discussion.

Good stuff from Powerline:


Obama Walks Back Supreme Court Threat, Still Gets It Wrong

http://www.powerlineblog.com/archives/2012/04/obama-walks-back-supreme-court-threat-still-gets-it-wrong.php


Barack Obama, Constitutional Ignoramus

http://www.powerlineblog.com/archives/2012/04/barack-obama-constitutional-ignoramus.php
I should probably fit it into LIES also ...maybe some day a liberal will argue he wasn't a liar then and we'll just agree to go along with "ignoramus".

That's a debate question you follow up with; 'well, which one was it'!
:laughin:
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kbp

Looks like an example of his briliance to me...

Quote:
 
Bill Clinton: Obama can argue he steadied economy

....[Bill Clinton] replied that if Mr. Obama can’t make that case, “it is only because of the financial collapse that occurred in September 2008,” before Obama took office.

Mr. Obama can assert that “we put a floor under the recession and kept it from becoming a depression,” Mr. Clinton said....


The great combination of "blame Bush" and "it would have been worse".

ABC’s “Good Morning America” should have asked Bill why Barry's masterful economic team was so far off in their numbers that they never even came close to the solutions promised.





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