[DeTomaso] NPC - Corporate taxes

Mon Nov 8 22:06:59 EST 2010

Thankfully, that plan was nipped in the bud last Tuesday.  Now, maybe we can
keep the ones that we have.....

Michael

On Mon, Nov 8, 2010 at 10:02 PM, Peter Kovacs <peter-kovacs at sbcglobal.net>wrote:

>   But then I'd have no Pantera and never would have had an opportunity to
> get this much free advice from such a brilliant group!!
>
>  *Peter Kovacs*
> *209 345-6708 *
> *209 436-2000 fx*
>
>
>  ------------------------------
> *From:* "michael at michaelshortt.com" <michaelsavga at gmail.com>
> *To:* Peter Kovacs <peter-kovacs at sbcglobal.net>
> *Sent:* Mon, November 8, 2010 6:54:34 PM
>
> *Subject:* Re: [DeTomaso] NPC - Corporate taxes
>
> Clearly, aside from being a really bad landlord, you realized no profits,
> therefore no taxes.
> But since this blackhole of an investment isn't your primary residence,
> when you sell it, you would be taxed on the profit from what you originally
> paid and what you collected when it was sold.
>
> But if you were a smarter investor and PAID CASH for an investment (rental
> ) property like you should be doing anyway, then you would be taxed on the
> net profits after all your yearly expenses were paid.  So if this blackhole
> generates 12,000 in rent and has 5,000 in expenses, your net is 7,000, at
> 10%, you owe 700.00   Pay up sucker.
>
> Michael
>
>
>
> On Mon, Nov 8, 2010 at 9:33 PM, Peter Kovacs <peter-kovacs at sbcglobal.net>wrote:
>
>>   $#i+! How much crap am I going to take for leaving off the 0??
>>
>>  *Peter Kovacs*
>> *209 345-6708 *
>> *209 436-2000 fx*
>>
>>
>>  ------------------------------
>> *From:* Peter Kovacs <peter-kovacs at sbcglobal.net>
>> *To:* michael at michaelshortt.com; wkooiman at earthlink.net
>> *Cc:* kenn_green at yahoo.com; Larry Finch <fresnofinches at aol.com>;
>> detomaso at realbig.com; P6746 at aol.com
>> *Sent:* Mon, November 8, 2010 6:25:06 PM
>>
>> *Subject:* Re: [DeTomaso] NPC - Corporate taxes
>>
>> So if I have a rental and receive $1000 per month in rent, but pay out
>> $800 per
>> month in interest toward the payment, $100 per month in insurance, $150
>> per
>> month toward taxes, and $50 to a gardener......
>>
>> do I pay $120 in flat tax for the $100 rent when I actually lost $100
>> assuming
>> no repairs?
>>
>> Peter Kovacs
>> 209 345-6708
>> 209 436-2000 fx
>>
>>
>>
>>
>> ________________________________
>> From: "michael at michaelshortt.com" <michaelsavga at gmail.com>
>> To: wkooiman at earthlink.net
>> Cc: detomaso at realbig.com; kenn_green at yahoo.com; P6746 at aol.com; Larry
>> Finch
>> <fresnofinches at aol.com>
>> Sent: Mon, November 8, 2010 4:30:24 PM
>> Subject: Re: [DeTomaso] NPC - Corporate taxes
>>
>> If EVERYBODY paid about 12% of gross income with Zero deductions, we'd be
>> more than flush. I mean everybody, from the kid at McDonalds to Bill
>> Gates.
>> Michael Shortt
>> On Nov 8, 2010 7:11 PM, <wkooiman at earthlink.net> wrote:
>> >
>> > Maybe the individuals' portion has been increasing because there are
>> fewer
>> individuals working. That's the way percentages work.
>> >
>> > In the past 10 years, we've probably lost 10 million jobs due to
>> outsourcing.
>> >
>> > And when 10 million jobs go overseas, corporations pay less taxes, so
>> it's
>> a double-whammy.
>> >
>> > I guessed at the 10M number. I don't know the actual figure. I'm sure
>> it's
>> a big number, though.
>> >
>> > My point is that you are right. Individuals are paying more taxes. And
>> the
>> reason they are paying more taxes is because more jobs are going overseas.
>> If we get the jobs to come back stateside, individuals will pay a lower
>> percentage because it is spread across more people. Corporations will pay
>> a
>> higher percentage because they have to pay for payroll taxes.
>> >
>> > -----Original Message-----
>> >>From: Larry Finch <fresnofinches at aol.com>
>> >>Sent: Nov 8, 2010 4:01 PM
>> >>To: kenn_green at yahoo.com, doug351c at gmail.com, detomaso at realbig.com,
>> chrisvkimball at msn.com, P6746 at aol.com
>> >>Subject: Re: [DeTomaso] NPC - Corporate taxes
>> >>
>> >>
>> >> While tax RATES are an interesting portion of the issue, I haven't seen
>> any of my detractors contest
>> >>my post which pointed out the actual share of overall US taxes received
>> that are PAID by corporations has
>> >>been lessening while the individuals' portion has been increasing.
>> >>
>> >>But those figures aren't what my detractors want to learn about, or
>> apparently, comprehend.
>> >>
>> >>Perhaps the corporate-politico-lobbyist machine has added enough
>> loopholes
>> and write-offs in recent decades to
>> >>give the "high taxes are killing us" corporate crocodile tears apparent
>> validity to those not willing to look at the
>> >>bottom line of who is now actually PAYING what?
>> >>
>> >>And just for the record, just as both sides of the aisle are in the
>> pocket
>> of the Wall Street-corporate machine, so too is the corporate-owned media.
>> >>They depend on advertising, not letters to the editor. They know who to
>> side with, and despite the off-repeated 'liberal media' buzzword,
>> >>for the most part the media's agenda is not the Common Man's agenda.
>> >>
>> >>Larry
>> >>
>> >>P.S. - Ken, I'm still waiting to hear the details on the Civil War you
>> alluded to in your recent post. Or did I infer something other than what
>> you
>> >> meant by your use of the word revolution? To me a revolution is an
>> internal armed uprising against a government. You could have said
>> >> it would be time for increased political action, time to propose and
>> pass
>> changes to the constitution, time for peaceful demonstrations to
>> >> garner support for changes in laws and regulations. But you said
>> revolution.
>> >> Again, please provide the details of just what your revolution would
>> entail.
>> >>
>> >>
>> >>
>> >>
>> >>
>> >>
>> >>
>> >>
>> >>-----Original Message-----
>> >>From: Ken Green <kenn_green at yahoo.com>
>> >>To: Doug Braun <doug351c at gmail.com>; fresnofinches at aol.com; Pantera
>> List
>> Serve <detomaso at realbig.com>; Christopher Kimball <chrisvkimball at msn.com>
>> >>Sent: Mon, Nov 8, 2010 10:49 am
>> >>Subject: Re: [DeTomaso] NPC - Corporate taxes
>> >>
>> >>
>> >>
>> >>
>> >>Darn it Chris, don't confuse the rhetoric with facts. The liberal main
>> stream media won't stand for it!
>> >>
>> >>Ken
>> >>
>> >>--- On Mon, 11/8/10, Christopher Kimball <chrisvkimball at msn.com> wrote:
>> >>
>> >>
>> >>From: Christopher Kimball <chrisvkimball at msn.com>
>> >>Subject: Re: [DeTomaso] NPC - Corporate taxes
>> >>To: "Doug Braun" <doug351c at gmail.com>, fresnofinches at aol.com, "Pantera
>> List Serve" <detomaso at realbig.com>
>> >>Date: Monday, November 8, 2010, 9:59 AM
>> >>
>> >>
>> >>
>> >>By the way, there was a response about corporate taxes versus personal
>> taxes. Corporate tax rates are as follows (2209 rates):
>> >>
>> >>75,000 to 100,000: 34% tax rate
>> >>100,000 to 335,000: 39% tax rate
>> >>
>> >>So you'll notice, the tax rates are higher than individual tax rates.
>> It's
>> true that many large corporations have years when they pay little or no
>> taxes, but in many cases that's because they have carry-forward losses
>> from
>> previous years. That, or they're getting subsidies from the Government for
>> creating "green energy" products, that on their own wouldn't make a dime,
>> but would instead lose money. In fact, the head of our regional power
>> company spoke at Rotary the other day, and when questioned, she had to
>> admit
>> that the wind power facilities they are operating would be a total
>> money-losing proposition if it weren't for Federal subsidies.
>> >>
>> >>Oh, and by the way, trust tax rates are even more egregious. After only
>> the first $11,200 of income, the rate is 35%, or in other words, the same
>> as
>> the top marginal individual rate.
>> >>
>> >>Sincerely,
>> >>
>> >>Chris
>> >>
>> >>
>> >>
>> >>
>> >>
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>
>
>
> --
>
>
>
>
>
>
>
> Michael L. Shortt
> Savannah, Georgia
> www.michaelshortt.com
> michael at michaelshortt.com
> 912-232-9390
>
>
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-- 

Michael L. Shortt
Savannah, Georgia
www.michaelshortt.com
michael at michaelshortt.com
912-232-9390

This email is protected by the Electronic Communications Privacy
Act, 18 U.S.C. Sec. 2510-2521, is confidential and may be legally
privileged.  If you are not the intended recipient, you are hereby notified
that any retention, dissemination, distribution or copying of this
communication is strictly prohibited.  Please reply to the sender that you
have received this message in error, then delete it.  Thank you