Girls, you may not need High School??

[Unregistered]

Romney was criticized for not paying income taxes - he didnt have ordinary income to tax. If I hit the lottery, I would live off the interest and thats not ordinary income so effectively I wouldnt have to pay income tax.

Romney was criticized for not giving more than 2 years of returns and owning to the fact that he was wealthy. Clinton is making the same mistake now.

Bloomberg tells it like it is. It is silly to try to say your an every day person when you are clearly living large. I think American's appreciate people that have made it to the top. They don't appreciate the people that try to something they are not.

[Unregistered]

Business are in the business of making money. Just like anyone here and will take advantage of every opportunity to lessen costs and increase profits (ie Fiscal Cliff, Stimulus, etc). Nothing new there. The US rate is the highest in the world and not many actually pay that but they are paying their fair share of taxes overall. Creating a headline that says these companies dont pay taxes is an excercise in painting by numbers. Cant say that this is strictly a Republican or Democrat issue. If the rent gets to high, what do you do? You look for another place.

Romney was criticized for not paying income taxes - he didnt have ordinary income to tax. If I hit the lottery, I would live off the interest and thats not ordinary income so effectively I wouldnt have to pay income tax.

Well, that's almost right except for being horribly wrong. You would pay a massive income tax bill on the lottery winnings AND you would also have the pleasure of paying ongoing capital gains tax on any income you made on the invested net proceeds.

Romney's case was actually a little more interesting as it went beyond the usual capital gains vs ordinary income question. When you invest in PE you can make money that should probably come in the form of regular income appear as an appreciation of an equity stake in the firm. When you work a regular salaried job you don't have the luxury of simply re-categorizing your paycheck as a capital gain which can be offset by other capital losses.

It all starts with the government's idiotic byzantine tax system which picks winners and losers and double or triple taxes everything under the sun. If you dislike people getting away with nonsense in the shadows of the tax system you should love a flat tax. If you are in a position of political leverage and enjoy getting over on your fellow citizens you HATE the flat tax.

[Unregistered]

I have that is why I am a Libertarian. Since Ross Perot, I have voted for 3rd party candidates.

In that case, you are a racist.

[Unregistered]

In that case, you are a racist.

what?

[Unregistered]

In that case, you are a racist.

Quite the opposite.

[Unregistered]

In that case, you are a racist.

"Third Party" is a code word for "Tea Party" and "Tea Party" is a code word for "I don't like black people".

Paid for by Biden / Warren 2015.

[Unregistered]

Well, that's almost right except for being horribly wrong. You would pay a massive income tax bill on the lottery winnings AND you would also have the pleasure of paying ongoing capital gains tax on any income you made on the invested net proceeds.

Romney's case was actually a little more interesting as it went beyond the usual capital gains vs ordinary income question. When you invest in PE you can make money that should probably come in the form of regular income appear as an appreciation of an equity stake in the firm. When you work a regular salaried job you don't have the luxury of simply re-categorizing your paycheck as a capital gain which can be offset by other capital losses.

It all starts with the government's idiotic byzantine tax system which picks winners and losers and double or triple taxes everything under the sun. If you dislike people getting away with nonsense in the shadows of the tax system you should love a flat tax. If you are in a position of political leverage and enjoy getting over on your fellow citizens you HATE the flat tax.

Please re-read what I said: "If I hit the lottery, I would live off the interest and thats not ordinary income so effectively I wouldnt have to pay income tax." Thats Net after taking the PV Lump Sum amount after the intial tax hit. I wouldnt have to report ordinary income anymore.

[Unregistered]

"Third Party" is a code word for "Tea Party" and "Tea Party" is a code word for "I don't like black people".

Paid for by Biden / Warren 2015.

Take it to the politics section or Stormfront, BTNT.

[Unregistered]

Please re-read what I said: "If I hit the lottery, I would live off the interest and thats not ordinary income so effectively I wouldnt have to pay income tax." Thats Net after taking the PV Lump Sum amount after the intial tax hit. I wouldnt have to report ordinary income anymore.

In order to live of the interest from your lottery win, your net proceeds would need to be invested. Gains from those investments are not ordinary income and so not subject to income tax per se, but I do believe your investment income would still taxed, just at a lower rate (e.g. as long-term capital gains) which is the rate the IB and private equity guys typically try to pay on their millions.

[Unregistered]

"Third Party" is a code word for "Tea Party" and "Tea Party" is a code word for "I don't like black people".

Paid for by Biden / Warren 2015.

Oh yeah. The race card is the only card left in their deck to play.

[Unregistered]

In order to live of the interest from your lottery win, your net proceeds would need to be invested. Gains from those investments are not ordinary income and so not subject to income tax per se, but I do believe your investment income would still taxed, just at a lower rate (e.g. as long-term capital gains) which is the rate the IB and private equity guys typically try to pay on their millions.

That isn't the issue. The issue with the private equity guys is that they take their "salary" as carried interest. So, instead of having their salary taxed as ordinary income, it is taxed at the much lower, and non-progressive (not completely true as of 2013 there are two rates) long term capital gains.

[Unregistered]

In order to live of the interest from your lottery win, your net proceeds would need to be invested. Gains from those investments are not ordinary income and so not subject to income tax per se, but I do believe your investment income would still taxed, just at a lower rate (e.g. as long-term capital gains) which is the rate the IB and private equity guys typically try to pay on their millions.

Totally agree.

[Unregistered]

That isn't the issue. The issue with the private equity guys is that they take their "salary" as carried interest. So, instead of having their salary taxed as ordinary income, it is taxed at the much lower, and non-progressive (not completely true as of 2013 there are two rates) long term capital gains.

Or they may not take a salary

[Unregistered]

Or they may not take a salary

Only schmucks work for a salary.

[Unregistered]

Well, Morgan Andrews from NH, the longtime Stars player did play for her high school all 4 years, and clearly her game and development was quite damaged by the low level of high school play.....she was merely the number one recruit in country, plays for one of the best college teams in the country (Notre Dame), led the Irish in scoring, and was ACC Freshman of the year...oh and she's also a star on the U20 National team. I bet when it's all said and done, even with all she's accomplished, some of her fondest memories will be representing her High school on the soccer field. But, all you disillusioned parents, go ahead and listen to the Stars talking heads who are CLEARLY thinking in the best interest of the players and NOT simply looking to lock up your kids and your money for more months than they have them already. I'm sure that keeping them away from kick ball soccer in high school is your ticket to success, and that they will surpass the achievements of Andrews because she was so stunted.

PS, I will let you in on a secret, most of the success of the very top tier players comes a drive that comes from 'within' and a certain amount of innate natural ability that is fueled by this drive. Parents, Coaches, and teammates have very little to do with that. Your kid either has it or not, and more likely not. Just let them enjoy their high school years and have fun playing the sport they like.