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Old 05-06-2016, 04:19 PM   #1
Replaced_Texan
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I used to be disgusted, and now I try to be amused.

It's been years. A new board for the new Trump party.
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Old 05-06-2016, 04:46 PM   #2
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A couple of Wonks since the last board is closed for bidness

1. Section 162(m). TM I have no doubt there will still be many bankers, lawyers, doctors, etc., still paid in excess of $250K. I just want their employers taxed for it. I want the rest of America making their $16,000-$40,000 to stop subsidizing the ones who don't need welfare. The additional tax revenue can be put to use rebuilding roads and schools, creating jobs that pay a living wage and restoring infrastructure.

2. GGG, You say there are ways that clever lawyers use to get around 162(m). Please to show me how they will do that when there are no exceptions to 162(m) and all increases in wealth are taxed identically? As for sourcing rules, I would deal with them thus: if income from outside the US produces cash or its equivalent that comes into the hands of a domestic individual or entity, it becomes taxable US income. Loans, investment, whatever. Once the cash crosses the border it's taxed. If it is converted to hard goods and then those are imported, deem a sale at fmv at the moment the property crosses.
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Old 05-06-2016, 04:51 PM   #3
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Re: Not Bob's new politics thread

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Originally Posted by Replaced_Texan View Post
It's been years. A new board for the new Trump party.
Congrats NotBob. Let's talk about the Meters. A New Orleans quartet founded by Art Neville (later of the Neville Brothers), they were deeply rooted in traditional New Orleans music, but also pioneered a stripped down, riff-oriented funk groove, often instrumental, that puts them right up with James Brown, P-Funk, and later Prince, as one of the more influential funk groups of all time. You can tell this is the case in part by discovering how often they have been sampled in hip hop over the years. Because I missed the Dose yesterday, today is a Double Shot Daily Dose of the Meters, two of their earliest hits that helped define their sound. Cissy Strut:

https://www.youtube.com/watch?v=4_iC0MyIykM

And Look Ka Py Py. Both gems:

https://www.youtube.com/watch?v=kYfCTHf2ne4
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Old 05-06-2016, 05:35 PM   #4
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Re: Not Bob's new politics thread

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Originally Posted by Pretty Little Flower View Post
Congrats NotBob. Let's talk about the Meters. A New Orleans quartet founded by Art Neville (later of the Neville Brothers), they were deeply rooted in traditional New Orleans music, but also pioneered a stripped down, riff-oriented funk groove, often instrumental, that puts them right up with James Brown, P-Funk, and later Prince, as one of the more influential funk groups of all time. You can tell this is the case in part by discovering how often they have been sampled in hip hop over the years. Because I missed the Dose yesterday, today is a Double Shot Daily Dose of the Meters, two of their earliest hits that helped define their sound. Cissy Strut:

https://www.youtube.com/watch?v=4_iC0MyIykM

And Look Ka Py Py. Both gems:

https://www.youtube.com/watch?v=kYfCTHf2ne4
I think the new board ought to be called "Funk Trump".

But this is Not Bob's board. We only live in it.
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Last edited by Greedy,Greedy,Greedy; 05-06-2016 at 05:39 PM.
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Old 05-06-2016, 05:37 PM   #5
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Re: A couple of Wonks since the last board is closed for bidness

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1. Section 162(m). TM I have no doubt there will still be many bankers, lawyers, doctors, etc., still paid in excess of $250K. I just want their employers taxed for it. I want the rest of America making their $16,000-$40,000 to stop subsidizing the ones who don't need welfare. The additional tax revenue can be put to use rebuilding roads and schools, creating jobs that pay a living wage and restoring infrastructure.

2. GGG, You say there are ways that clever lawyers use to get around 162(m). Please to show me how they will do that when there are no exceptions to 162(m) and all increases in wealth are taxed identically? As for sourcing rules, I would deal with them thus: if income from outside the US produces cash or its equivalent that comes into the hands of a domestic individual or entity, it becomes taxable US income. Loans, investment, whatever. Once the cash crosses the border it's taxed. If it is converted to hard goods and then those are imported, deem a sale at fmv at the moment the property crosses.
162(m) relates to business deduction of salary. Just make it something other than salary, whether dividends or equity comp what have you. Lawyers who take partnership draws aren't subject to 162(m); it is a corporate provision.

So you're saying that if I keep my cash abroad it's not taxed here. WAHOOO! Not a problem. Retiring to the little Attican villa owned by an offshore trust sounds cool. In the meantime, Canada is close and very, very nice.
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Old 05-07-2016, 03:37 PM   #6
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Re: Not Bob's new politics thread

One thing Trump has revealed is that an awful lot of Republicans haven't really been interested in what have been Republican elite's priorities -- free trade, immigration reform, cutting entitlements, tax cuts for the wealthy -- and care more about other things -- in particular, jobs and and halting immigration. Some of this has been clear for a while, especially re immigration reform, but Trump has had a freedom to depart from the orthodoxy across a range of issues.

Does Trump's wealth and skill working the media give him an independence that other Republican politicians won't be able to replicate, or will we see other Republican politicians echoing his positions? In the former case, he's an outlier and the GOP tries to revert to form in the next election, but in the latter case you have something more like a cleavage in the GOP.

Am assuming Trump loses in the fall, but if he wins all bets are off.
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Old 05-07-2016, 06:46 PM   #7
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Re: Not Bob's new politics thread

Wonk, so much for your thought that your vote won't matter. Trump has made Georgia a swing state.

http://thehill.com/blogs/ballot-box/...tie-in-georgia
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Old 05-08-2016, 05:13 PM   #8
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Re: A couple of Wonks since the last board is closed for bidness

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162(m) relates to business deduction of salary. Just make it something other than salary, whether dividends or equity comp what have you. Lawyers who take partnership draws aren't subject to 162(m); it is a corporate provision.

So you're saying that if I keep my cash abroad it's not taxed here. WAHOOO! Not a problem. Retiring to the little Attican villa owned by an offshore trust sounds cool. In the meantime, Canada is close and very, very nice.
As for Section 162(m), I would repeal everything but Section 162(m)(1), redefine it to apply to all business entities not disregarded for FIT, and make the only limitation on it an allowance for any compensation to the extent it is exempt from employee income and deductible to the employer under IRC 401. Also, dividends, equity, options, etc. are all taxable compensation except to the extent excluded under the Code. My first step would be to remove all exclusions except for income treated as income of the sole owner of a disregarded entity or income subject to IRC 401.

If it's earned in the US, it's taxed in the US. I was talking about removing the ability to offshore earnings or inbound earnings through loans or other constructive transactions.
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Old 05-08-2016, 05:15 PM   #9
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Re: Not Bob's new politics thread

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Wonk, so much for your thought that your vote won't matter. Trump has made Georgia a swing state.

http://thehill.com/blogs/ballot-box/...tie-in-georgia
Hils it is, then. #NeverTrump
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Old 05-08-2016, 05:36 PM   #10
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Re: Not Bob's new politics thread

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Originally Posted by Tyrone Slothrop View Post
One thing Trump has revealed is that an awful lot of Republicans haven't really been interested in what have been Republican elite's priorities -- free trade, immigration reform, cutting entitlements, tax cuts for the wealthy -- and care more about other things -- in particular, jobs and and halting immigration. Some of this has been clear for a while, especially re immigration reform, but Trump has had a freedom to depart from the orthodoxy across a range of issues.

Does Trump's wealth and skill working the media give him an independence that other Republican politicians won't be able to replicate, or will we see other Republican politicians echoing his positions? In the former case, he's an outlier and the GOP tries to revert to form in the next election, but in the latter case you have something more like a cleavage in the GOP.

Am assuming Trump loses in the fall, but if he wins all bets are off.
Sebby, is this you? https://zeroanthropology.net/2016/05...united-states/
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Old 05-09-2016, 11:27 AM   #11
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Re: A couple of Wonks since the last board is closed for bidness

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As for Section 162(m), I would repeal everything but Section 162(m)(1), redefine it to apply to all business entities not disregarded for FIT, and make the only limitation on it an allowance for any compensation to the extent it is exempt from employee income and deductible to the employer under IRC 401. Also, dividends, equity, options, etc. are all taxable compensation except to the extent excluded under the Code. My first step would be to remove all exclusions except for income treated as income of the sole owner of a disregarded entity or income subject to IRC 401.

If it's earned in the US, it's taxed in the US. I was talking about removing the ability to offshore earnings or inbound earnings through loans or other constructive transactions.
I love the world of mythically idyllic tax code rewrites. I think it would be a good concept for a computer game, a sort of Oregon Trail kind of thing where if you write the right provisions you get steady economy growth distributed among the whole population and if you fuck up Donald Trump builds a tax-advantaged empire and takes all the little people's money at the casino.

We could call the game "Congress".
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Old 05-09-2016, 11:57 AM   #12
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Re: Not Bob's new politics thread

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Hils it is, then. #NeverTrump
1. Awesome.
2. This is interesting to me. I wonder if there are more liberals in Georgia than one would think who would come out to vote now that their votes actually mean something.

TM
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Old 05-09-2016, 12:11 PM   #13
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Re: Not Bob's new politics thread

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1. Awesome.
2. This is interesting to me. I wonder if there are more liberals in Georgia than one would think who would come out to vote now that their votes actually mean something.

TM
Massive Numbers.

Georgia is 55% nonhispanic white. It's quite easy to see a candidate with a big margin among minority voters and white women easily winning there if you had strong turnout.

In general, this is why my attitude toward the various "demands" Bernie makes on behalf of his middle aged white male bernie bros and the college students who never vote is a yawn. Hillary's number one priority should be turnout among minorities in Red and Purple states, not appeasing Bernie. If she cranks it up there, we can win the house back.
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Old 05-09-2016, 01:17 PM   #14
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Re: Not Bob's new politics thread

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Originally Posted by ThurgreedMarshall View Post
1. Awesome.
2. This is interesting to me. I wonder if there are more liberals in Georgia than one would think who would come out to vote now that their votes actually mean something.

TM


And/or if this being a truly competitive race drives minority turnout to higher levels than it has been (at least in years where Obama wasn't on the ballot).
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Old 05-09-2016, 01:39 PM   #15
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Re: Not Bob's new politics thread

https://www.youtube.com/watch?v=NHS-K7OuLAc

Don't miss the comments on this. Hill-arious.
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