Will it work?

From Bloomberg:

New Jersey Senate Passes Charitable Tax Workaround

New Jersey residents might be able to avoid federal deduction limits on property taxes by converting them to a charitable contribution under a proposal the state Senate approved Feb. 26.

S.B. 1893 would permit municipalities, counties, or school districts to establish charitable funds and allow donors to receive property tax credits in exchange for donations. The proposal is similar to proposals in other states, such as California and New York, that aim to use charitable contributions as a way around the state and local tax deduction cap included in the new federal tax law.

Under the new law, taxpayers who itemize deductions on their federal return may deduct up to $10,000 in state and local sales, individual income, and property taxes (SALT deduction). Previously the SALT deduction was unlimited.

Sponsored by Senate President Stephen Sweeney (D) and Deputy Majority Leader Sen. Paul Sarlo (D), the measure passed the Senate by a vote of 28-9.

The proposal is one of many legislative fixes that New Jersey is considering to counteract heavy tax burdens resulting from the 2017 federal tax act ( Pub. L. No. 115-97). New Jersey residents pay high state and local taxes as well as some of the highest property taxes in the country.

The charitable deduction proposal has support from Gov. Phil Murphy (D), who earlier this month told a gathering of mayors that shifting property tax payments to a charitable contribution system “provides residents with significant deductibility from their federal income taxes.”

Under the proposal, the local government unit would need to pass an ordinance or resolution to establish the fund, set an annual donation cap, and set an annual limit on tax credit funding that could be made available. The limit on tax credit funding would equal 90 percent of the annual donation cap, according to a Feb. 15 statement accompanying the bill.

However, Treasury Secretary Steven Mnuchin has cast doubt on such workarounds and has threatened to audit taxpayers who use them. IRS Publication 526 says that taxpayers can’t deduct as a charitable contribution any payment for which they receive a benefit in return.

Several Republican Senators who voted against the bill expressed concerns that the IRS wouldn’t accept the workaround.

“This deduction is worth a hundred million dollars in tax revenue. There’s no way the federal government is going to look away,” said Sen. Joseph Pennacchio (R). “I don’t want to put my taxpayers at risk.”

Sen. Steven V. Oroho (R) worried that “we’re going to give our residents a false sense of security.”

Sarlo said there are 33 other states that have similar programs. “If the IRS rules that we cannot proceed, then I would love to be at the table when we challenge them in court,” he said during debate on the bill.

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146 Responses to Will it work?

  1. grim says:

    Couple of things to consider with this one:

    1. Will going against Trump in such a public way create a situation where he actively works against NJ in key funding/spending bills?

    2. Will other states see NJ in a negative light, thus taking positions against NJ funding/spending programs?

    3. Will this program disproportionately benefit the wealthy, who have the ability to make large “donations”, because they have the free cash to do it. I suspect that mortgage companies that are paying property taxes out of escrow are not going to go through with this funny business, thus someone would need to pay their property taxes twice to get the benefit. In NJ, this means paying out 2x property taxes until the escrow is refunded? Not sure how this will play out, but we clearly saw that it was the wealthy that took advantage of the temporary tax prepayment scheme.

  2. Regards Retards says:

    Looks like Russia still wants to blow the US up. Neat.

  3. grim says:

    Really expected this much earlier. Not the gun control, but the pivot to center.

    https://www.cnn.com/videos/politics/2018/03/01/mobapp-sen-dianne-feinstein-giddy-trump-gun-bill.cnn

  4. Regards Retards says:

    6:08 People are fed up.

  5. Regards Retards says:

    There may be good reasons not to regulate firearms further, but the individual’s absolute claim that his or her guns are nobody’s business is not one of them. To even make this assertion is an illustration of what the legal scholar and diplomat Mary Ann Glendon calls “the illusion of absoluteness,” an idea that is hostile to the possibility of political community. All rights have limits. The question is who determines them. For the framers of the Constitution, the answer was that the people do.

  6. Regards Retards says:

    season is in full swing in California, and the Golden State just took home a booby prize of its own.
    California ranks dead last among U.S. states in quality of life, according to a study by U.S. News, ranking behind New Jersey (49th) and Indiana (48th).
    The ignominious honor reflects California’s low marks in the sub-categories of environmental quality and social engagement. The latter category measures voting participation and community bonds.
    Californians scored poorly in part because they’re simply insufferable, U.S. News suggested.
    “In addition to a healthy environment, a person’s quality of life is largely a result of their interactions with those around them,” the magazine wrote in a blurb accompanying the results.
    U.S. News ranked each state in seven other areas, which were weighted based on a survey that determined their importance to the public: health care, education, economy, opportunity, infrastructure, crime and corrections, and fiscal stability.
    S

  7. The Original NJ ExPat says:

    Dem platform: Tax the rich…in other states.

  8. The Original NJ ExPat says:

    What’s the deal with tax escrow accounts? I’ve only owned condos ( 2 in NJ, one in MA) and I don’t think I ever had an escrow account for taxes, definitely not here in MA, anyway. The same goes for insurance, I guess that goes more part and parcel with condos, since the only thing that an owner needs to insure is the space between the walls. Assuming you have significant equity, can you re-jigger a NJ mortgage on a SFH so that the payments are principal plus interest and nothing more? I know mortgage servicers have a lot of sly ways to make money on insurance and PMI and probably wouldn’t want to give up those revenues.

  9. The Original NJ ExPat says:

    I think when it comes to gun control, Trump can say whatever he wants because there is very little chance a bill will ever appear on his desk to sign.

  10. The Original NJ ExPat says:

    Same goes for DACA. Dems want to run on “no DACA”.

  11. The Original NJ ExPat says:

    As in, “There will be no DACA unless you put us back in power.”

  12. The Original NJ ExPat says:

    NJ is exactly the same as California, just without the hot women, great weather, and beautiful scenery. Other than that, exactly the same.

  13. Ex-Jersey says:

    California is fascinating. But yeah, the weather. The single unifying factor and the single most important resource this God Forsaken place has to offer. Because when you are ‘out here’ you are really waaaaay the F*ck out here. Gorgeous women? Yes. Though my sweet long term object of affection is a Pennsylvania gal who if I am not mistaken is World Class.

  14. Juice Box says:

    Earthquakes, raging fires, mudslides, droughts, the ocean is freezing year round, the highway system sucks, and the stink of neoliberals. What’s not to love about California?

  15. Very Stable Genius says:

    @sahilkapur

    RECENT NEWS

    • Hope Hicks resigns
    • Jared loses top secret clearance
    • Kelly vs. JaVanka
    • Trump vs. Sessions
    • Companies ditch NRA
    • Trump-Hill gun meeting
    • Manafort trial date
    • Mueller on Trump/Dem emails
    • Carson/HUD’s $31k dining set
    • Don Young weighs in on Jews

  16. grim says:

    7:47 – You forgot the meth

  17. Very Stable Genius says:

    @bessbell

    Whatever you think about Hope Hicks, you have to admit it’s impressive that at only 29 years old, she already has a lifetime of regrets!

  18. grim says:

    Pretty sure she is going to walk into a fairly fat 6 figure job, having connections to the administration.

  19. Very Stable Genius says:

    @kurteichenwald

    Now that Hope Hicks has resigned after being berat3d by trump fo testifying truthfully, I have one thing to say:

    I warned you Hope.
    And you thought you knew him better than I do.
    I’ve known him longer than you’ve been alive.
    And now you know I was right.

  20. Blue Ribbon Teacher says:

    West coasters in general are pretty loopy. My sister moved out to Portland a few years ago and assimilated with them instantly. She’s now screaming to reintroduce wolves everywhere. She’s marching about some health bill there. In that city, they all want $15 minimum wage, but only want to work part time. She’s surrounded by a bunch of other transplants from around the country who all have little motivation to work hard to get ahead. With respect to legalization, she and the rest of her new found friends kill brain cells on a daily basis.

    That show Portlandia called Portland the city where young folks go to retire. They are right.

  21. Very Stable Genius says:

    she’ll need it to pay mounting legal fees

    grim says:
    March 1, 2018 at 7:55 am
    Pretty sure she is going to walk into a fairly fat 6 figure job, having connections to the administration.

  22. D-FENS says:

    People want to ban “assault style” weapons including the AR-15 but the trouble is, the 2A was written to protect exactly those weapons.

  23. Very Stable Genius says:

    in the south you can stop a brother from voting, but not in Cali

    @Taniel

    Voting rights milestone: today, California expanded its automatic voter registration law to automatic voter *pre*-registration!

    16- and 17-year olds who get their license/ID will now be automatically preregistered and ready to vote when they turn 18

  24. grim says:

    People want to ban “assault style” weapons including the AR-15 but the trouble is, the 2A was written to protect exactly those weapons.

    Just ban pistol grip rifles, and require a longer minimum barrel length, say 20″.

    Rifles should be rifles, no? Short barrel pistol grip semi-autos – have zero sporting use. Or, treat pistol grip short barrel guns as handguns.

  25. Very Stable Genius says:

    @Califernian_Dad

    Trump’s only advisor who has a longer tenure than Hope Hick is Vladimir Putin.

  26. D-FENS says:

    AR-15’s aren’t owned for sporting use. That is not the second amendment’s intention.

    The people who wrote it went to war against the greatest military on earth at the time and won. When they came back they wrote the second amendment protecting the right to own “arms”. The same arms that would be carried by someone battling an oppressive government. The same “arms” that a soldier would carry.

  27. Juice Box says:

    Don’t have the stats in front of me but if you ban manufacturing and distribution of handguns but not legal ownership handgun murder go way way down.

  28. Juice Box says:

    Are there even any good rock and roll bands coming out to California anymore?

  29. Very Stable Genius says:

    @shomaristone

    The Trump Administration Who’s Out List:

    Hope Hicks
    Sally Yates
    Michael Flynn
    James Comey
    Mike Dubke
    Walter Shaub
    Sean Spicer
    Reince Priebus
    Anthony Scaramucci
    Steve Bannon
    George Sifakis
    Sebastian Gorka
    Thomas Price
    Dina Powell
    Omarosa Manigault
    #HopeHicks

  30. Blue Ribbon Teacher says:

    Are there even any good rock and roll bands coming out to California anymore?

    Only decent one I’ve picked up listening to was Foster the People. Great live band as well if you check out youtube.

  31. grim says:

    AR-15’s aren’t owned for sporting use. That is not the second amendment’s intention.

    Cool, so lets require them to all be hot pink, for safety purposes. That doesn’t violate 2A.

  32. Blue Ribbon Teacher says:

    Pretty sure she is going to walk into a fairly fat 6 figure job, having connections to the administration.

    Easily. I’m always amazed at how people with amazing connections through their parents can major in English and instantly be propelled to success.

  33. Juice Box says:

    BLUE – that’s a boy band that doesn’t play rock and roll

  34. joyce says:

    joyce says:
    March 1, 2018 at 12:50 am
    Still confused I see.

    Fabius Maximus says:
    February 28, 2018 at 11:12 pm
    Joyce,

    I am all for self-regulation. But what I have found is that companies and industries have a hard time doing it.

    My view has always been that if an industry or company will not self-regulate, then it is the gvmts job to step up and regulate for them. In this case, industry and the gvmt are failing and if the market wants to step up, I’m all for it.

    joyce says:
    February 28, 2018 at 10:18 pm
    “IF gvmt won’t do anything, the market will. What a beautiful thing.”

    Are we going to hear more or less from you about ‘self-regulation’ now? You always confused it with market regulation … so I was curious.

  35. Libturd says:

    Wish that list would include every member of the congress and senate too.

    “The same arms that would be carried by someone battling an oppressive government. The same “arms” that a soldier would carry.”

    So Walmart should sell nukes?

  36. Very Stable Genius says:

    @kylegriffin1

    57% of all adults think Trump is racist, including:
    —More than 8 in 10 blacks
    —Three-quarters of Hispanics
    —Nearly half of whites

    (AP/NORC poll)

  37. D-FENS says:

    Funny Grim. Understand I’m not against doing “something”. It’s just that I’ve run every possible scenario and would like whatever is done to be effective.

    Banning AR-15’s would eventually be tossed by a conservative Supreme court.

    Amending the constitution to remove the 2A is never going to happen. Nor should it. Two thirds of congress would have to pass the amendment and then the legislatures of 38 states would have to ratify it. I doubt you could find 38 states do do that…ever.

  38. dentss dunnigan says:

    I don’t see where this state has any argument that the fed is limiting PT deduction ,when the state has been doing that on the state form for over 20 years ….This is just Murphy rewarding his rich pay with another tax break now that the AMT is gone …

  39. Bloomberg News says:

    I second that, 2A says “arms” not guns..so why are RPG launchers and other useful armaments seemingly not allowed. Never understood those types of restrictions.

    And why did they add that “militia” comment? Was that to insure that the individual arms could keep pace with the military? I assume.

  40. grim says:

    So Walmart should sell nukes?

    2A has nothing to do with battling a foreign government, and everything to do with battling an oppressive local government.

    The Federal Government should fear uprising, and should fear being toppled by the people, this is no different from the other checks and balances our forefathers put in place. Just as the Executive is a check to the Legislative, and the Judicial is check to the Executive. The fear of revolution should be check to all.

  41. D-FENS says:

    This is such a ridiculous argument and adds nothing to the discussion.

    Think…what can be done in the context I described?

    Libturd says:
    March 1, 2018 at 8:28 am
    Wish that list would include every member of the congress and senate too.

    “The same arms that would be carried by someone battling an oppressive government. The same “arms” that a soldier would carry.”

    So Walmart should sell nukes?

  42. Very Stable Genius says:

    @nycjim
    Wall Street Journal editorial board hints rather bluntly that it’s time for #Ivanka and #Jared to go.

    “Mr. Trump’s second year could determine his presidential fate as Mr. Mueller’s probe rolls on and midterm elections give Democrats a chance to take the House and impeach him. Mr. Trump needs the discipline that Mr. Kelly has imposed, and the White House announced Wednesday that communications aide Hope Hicks plans to resign after she became a political target.

    Mr. Kushner and Ivanka have to decide if they’d serve themselves and the President better by walking away from their formal White House roles.”

  43. The Original NJ ExPat says:

    8:12 – The Bill of Rights was written in 1689. All we did was copy it 100 years later.

  44. Libturd says:

    On the lead article.

    It’s completely divisive politicking going on at the expense of the average voter who already was blue in these states. No wealthy person, in their right mind (nor would their accountant), risk audit in exchange for a max of 10,000 in tax deductions. It’s just another, let’s try to make Trump look bad to constituents who already think Trump is bad. This is what NJ got in electing drop trow Murphy. At least with Christie, we got two or three good years before the presidential aspirations began and NJ became less important. The former ambassador to Germany had presidential aspirations when he was still at Goldman. He is simply using NJ much like Hillary used New York. Only Murphy will fail miserably since he has no name recognition whatsoever.

    And worst of all, the real downside of this proposal is the potential worse treatment from DC in response to it, which Grim already pointed out.

  45. Ex-Jersey says:

    8:16…it’s a mixed bag. The fossils are all here. I’m seeing Psychedelic Furs with my wife and child sitting at a table having dinner (row 1) soon. Love that. The scene out here is very chilled. Closer to LA? Well hell I have no idea……I’m an old fart bro. Gen X. Semi-retired and chillin’ while my arthritis takes a break.

  46. Libturd says:

    The weed is good out there.

  47. The Original NJ ExPat says:

    Don’t have the stats in front of me but if you only allow registered Republicans to own firearms the murder rate will go way down. The elite Democrats don’t want any and don’t want anybody to own any, so why not just start with that half of the population and see how it works out?

    Don’t have the stats in front of me but if you ban manufacturing and distribution of handguns but not legal ownership handgun murder go way way down.

  48. The Original NJ ExPat says:

    ^^^ The Dems would never go for that, though. Chicago would turn Republican in a heartbeat.

  49. Bystander says:

    Then maybe be 2a should have been smart enough to keep the battle fair. Pretty sure the “local” govt has a variety of armed units, gases and high grade military
    weaponry that man-children shooting up the forest can only masturbate to in gun and ammos magazine. 2A is really there to shoot fellow citizens when you are mad at the world or if fear a collapse of civilization. No, I am not talking about hunters or other recreational users but these “militias”.

  50. D-FENS says:

    https://www.npr.org/2014/06/05/319072156/guns-kept-people-alive-during-the-civil-rights-movement

    Bystander says:
    March 1, 2018 at 8:49 am
    Then maybe be 2a should have been smart enough to keep the battle fair. Pretty sure the “local” govt has a variety of armed units, gases and high grade military
    weaponry that man-children shooting up the forest can only masturbate to in gun and ammos magazine. 2A is really there to shoot fellow citizens when you are mad at the world or if fear a collapse of civilization. No, I am not talking about hunters or other recreational users but these “militias”.

  51. Grim says:

    high grade military
    weaponry that man-children shooting up the forest can only masturbate to in gun and ammos magazine.

    Hence pink guns. Most of these idiotic gun nuts are so homophobic that they wouldn’t dare own a pink gun. What better way to completely emasculate this machismo gun culture. Maybe require rhinestones too.

  52. Grim says:

    Jobless claims near 50 year low.

  53. No One says:

    “A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.”

    It’s pretty clear what the purpose of the second amendment was. To allow local militias to keep arms. Which would be equivalent to our local police forces now. And they said “the people” not “every man”. Thus I don’t read this as an individual right, but rather as a general right of communities to have well-regulated groups of armed forces to protect them from threats.
    How tightly guarded access to guns for individuals are can be determined at the state and municipal level.

  54. grim says:

    Cool interpretation, but you are wrong.

  55. Ex-Jersey says:

    My arthritis has never felt better. Not using any pain patches on the hands. Instead, there is a kick ass ointment……from nature. Sun worship is a thing here. As are creative types. They are quite literally everywhere. Everyone plays something, Everyone has a golden schwanz.

  56. Juice Box says:

    Here are the Scotus rulings on 2A, courtesy of JFPO

    http://jpfo.org/articles-assd03/scotus-2a-decisions.htm

  57. Libturd says:

    How about we just shape the barrel to look like a big dick. Wait, that would make the guns more popular with that crowd. Maybe I’ll make a picture later today.

  58. grim says:

    Let me quote Mr. Hamilton of Broadway Fame. Fairly clear that the intent of 2A was for the people to be able to defend themselves, or their liberties, against the federal government and their standing armies. Period.

    This will not only lessen the call for military establishments, but if circumstances should at any time oblige the government to form an army of any magnitude that army can never be formidable to the liberties of the people while there is a large body of citizens, little, if at all, inferior to them in discipline and the use of arms, who stand ready to defend their own rights and those of their fellow-citizens. This appears to me the only substitute that can be devised for a standing army, and the best possible security against it, if it should exist.

  59. Fabius Maximus says:

    “Bear arms” was covered in DC vs Heller and the answer is fuzzy on most of it, but very clear that you don’t get what the army get.

    I’m not sure how the court would go on a new Gun law. With Scalia gone, you’ll get a different response. I suspect Roberts would pull another protect the legacy vote as he did with OCare and you get a 5-4 on tighter restrictions.

  60. Juice Box says:

    Smallest nuke deployed by the US military (82nd Airborne, yes they dropped them from planes!) up until 1968 was the Davey Crockett. A 51 lb recoilless gun munition, dialable yield 10 ton to 1 kiloton. Good for zombie hoards and tank formations not for self-protection or hunting. Even if you survived the blast the radiation dose at the lowest yield was fatal up to 600 meters.

  61. Libturd says:

    “Even if you survived the blast the radiation dose at the lowest yield was fatal up to 600 meters.”

    Bet that would reheat your chicken tenders in a jiff.

  62. Mike says:

    I guess my prediction for 2018 is out, I said the cap on the SALT will be forgotten about my March and I was wrong. Just wondering in order for a charitable contribution to be allowed you cannot receive a benefit from it, so a homeowner who pays for garbage pick up separately from his taxes should be fine.

  63. Libturd says:

    There is a slight chance we’ll get some super heavy snow rates for a short duration in Northern Jersey as the winds whip around 70mph as this storm pulls away. I would fill up today just in case of wide-scale blackouts and start your generators.

  64. grim says:

    Brave the storm, distillery will be open from 5-9 tomorrow.

  65. Libturd says:

    Come on Obama, get those markets moving up again!

  66. Libturd says:

    Should be a rainstorm around here till the very end.

  67. Blue Ribbon Teacher says:

    BLUE – that’s a boy band that doesn’t play rock and roll

    I’d say far from it if you’ve seen them live. I’d say they are closer to Radiohead than anything else we’ve seen. Maybe not Rock and Roll in a traditional sense but guitars and drums. Other than that, Cage the Elephant was good for a while but they seemed to jump the shark. You’re right though, it’s been a pretty pathetic music scene overall the past 15 years.

  68. Blue Ribbon Teacher says:

    8:16…it’s a mixed bag. The fossils are all here. I’m seeing Psychedelic Furs with my wife and child sitting at a table having dinner (row 1) soon. Love that. The scene out here is very chilled. Closer to LA? Well hell I have no idea……I’m an old fart bro. Gen X. Semi-retired and chillin’ while my arthritis takes a break.

    I didn’t realize Psychedelic Furs were still active. Foo Fighters did a decent cover of Sister Europe.

  69. Hold my beer says:

    I have seen pink camo rifles and shotguns at cabellas.

  70. joyce says:

    And equality was covered in Plessy v. Ferguson. There are countless examples of stare decisis being thrown out the window and precedents overturned.

    Fabius Maximus says:
    March 1, 2018 at 9:24 am
    “Bear arms” was covered in DC vs Heller

  71. chicagofinance says:

    Post on Linked-In from a Store Manager of a retail chain (re: my response to Liberal hubris):

    I made 2 employees cry today and it’s all my company’s fault….
    Today we got the news that every associate is getting a pay raise. EVERYONE in my store. And some of my part time associates are now eligible for paid time off. I got to deliver this news and it made them cry. Why? Because they felt appreciated for all the work they do. Because they can take an extra day off every once in a while and not worry about paying the bills. Because the extra money every week pays for food and clothes and extra fun stuff for their kids and trips to see family overseas. They make our company great, and our great company recognized them for it today. Never been more proud.
    2 cried. All were elated. Thank you BBW

  72. Bystander says:

    Dfens,

    We are not talking Bull Connor with batons and hoses anymore. It is well known that federal govt has been weaponizing local police for 15 years now. Patriot act, Homeland security..ya know keep us all “safe”.

  73. The Great Pumpkin says:

    Dude, our founding fathers made this constitution during the age of absolute monarchs. If you feel oppressed by your govt, go rally others who feel oppressed and go vote out the current administration. What do you think will happen to trump….they will vote his a$$ out if he doesn’t start changing. Why would you need guns to change govt in 2018?

    D-FENS says:
    March 1, 2018 at 8:34 am
    This is such a ridiculous argument and adds nothing to the discussion.

    Think…what can be done in the context I described?

  74. The Great Pumpkin says:

    Cali is a beautiful place. People can hate on it, but it really is a beautiful place along the coasts and Tahoe area. Hence, why it costs multi millions to live in these locations.

  75. The Great Pumpkin says:

    When will people start to realize how on point Pumpkin has been with his calls for the best economic boom of our lifetime. How much more evidence do people need? Roaring 20’s 2.0, folks.

    Grim says:
    March 1, 2018 at 8:58 am
    Jobless claims near 50 year low.

  76. chicagofinance says:

    Where the fcuk is Murphy anyway? He is already on vacation……

    Libturd says:
    March 1, 2018 at 8:38 am
    On the lead article.

    It’s completely divisive politicking going on at the expense of the average voter who already was blue in these states. No wealthy person, in their right mind (nor would their accountant), risk audit in exchange for a max of 10,000 in tax deductions. It’s just another, let’s try to make Trump look bad to constituents who already think Trump is bad. This is what NJ got in electing drop trow Murphy. At least with Christie, we got two or three good years before the presidential aspirations began and NJ became less important. The former ambassador to Germany had presidential aspirations when he was still at Goldman. He is simply using NJ much like Hillary used New York. Only Murphy will fail miserably since he has no name recognition whatsoever.

    And worst of all, the real downside of this proposal is the potential worse treatment from DC in response to it, which Grim already pointed out.

  77. Fabius Maximus says:

    Chi,

    My company released its benfit enhancements. We always had full 401K match, so they got creative with things like 4 weeks Paternity Leave. The note stated that while the tax cuts benefit the company as a whole they are not the reason for the changes. That is down to a contunued drive for associate commitment and retention.
    With low unemployment (Thanks O), the companies are fighting to retain their workers.

  78. The Great Pumpkin says:

    They just won’t stop!

    Russia’s Putin unveils ‘invincible’ nuclear weapons – BBC News US
    https://apple.news/A2CkDjEPMRLaa7NrVFeRfLg

  79. The Great Pumpkin says:

    Can someone acknowledge how I called this way back in 2912/13.

    “ That is down to a contunued drive for associate commitment and retention.
    With low unemployment (Thanks O), the companies are fighting to retain their workers.”

  80. The Great Pumpkin says:

    Best calls ever on this blog and not one person is man enough to say ….nice call!

  81. Fast Eddie says:

    Jobless claims near 50 year low.

    Thank you, President Trump!

  82. grim says:

    With low unemployment (Thanks O), the companies are fighting to retain their workers.

    We are seeing huge growth in operations in Columbia, Mexico, and Nicaragua. US companies that would have never previously considered near-shore latin America are eating it up.

  83. Fast Eddie says:

    Not only is the average annual growth rate of just 1.48% during Obama’s business cycle the weakest of any expansion since at least 1949, he has just become the only President to have not had even one year of 3% GDP growth.

    He was such a weak president on every front.

  84. Blue Ribbon Teacher says:

    When will people start to realize how on point Pumpkin has been with his calls for the best economic boom of our lifetime. How much more evidence do people need? Roaring 20’s 2.0, folks.

    If you were truly benefiting from your amazing calls, you would have been throwing it in our face as to how much money you were making in the stock market on a daily basis.

  85. Libturd says:

    Not every front. He did have pretty good couth.

  86. Libturd says:

    Instead, Pumps is eating a lot of pancakes and waffles.

  87. The Great Pumpkin says:

    Betraying their own citizens for easy profit. Why pay your workers more when you can take advantage of slave labor. This behavior hurts our economy in the longterm, haven’t we learned this by now?

    “We are seeing huge growth in operations in Columbia, Mexico, and Nicaragua. US companies that would have never previously considered near-shore latin America are eating it up.”

  88. Fabius Maximus says:

    Columbia, Mexico, and Nicaragua aren’t stocking shelves in Walmart!

  89. Fast Eddie says:

    Not every front. He did have pretty good couth.

    You mean he was a master in duplicity.

  90. The Great Pumpkin says:

    Want me to boast? Okay.

    In 13 years, my properties will be paid off. Technically, I can retire after that, but won’t.

    As for stocks, I went aggressive with our 401ks since 2011. Never once listented to the chatter that a correction or crash was coming. Stuck to my own analysis. So have done extremely well in the past 8 years.

    On my mortgage alone, I prob saved over 200,000 in interest payments by hitting 2.75%.

    I was not born a millionaire, so I did as much as I could with what I had. Remember, I put down 20% on my 650,000 home purchased at the ripe young age of 31. Wish I could have put more in stocks, but I wasn’t about risking the majority of my money. Stuck to what I know was good long term bets with min risk. Took risks like nhmd that did not work out, but that’s what you do with 1-3% of your money. Try to hit a home run and not worry about losing it.

    I’m running a marathon here to become a millionaire. Not risking it all to get rich in 5 years. I’m positioning myself to live a normal life and not worry about money. I have no desire to be filthy rich, but if it happens, it happens.

    “If you were truly benefiting from your amazing calls, you would have been throwing it in our face as to how much money you were making in the stock market on a daily basis.”

  91. The Original NJ ExPat says:

    Hahahahahaahahahahaha!

    Instead, Pumps is eating a lot of pancakes and waffles.

  92. Ex-Jersey says:

    9:56 Cage is good. But they are Kentucky boys…..from Bowling Green. Place they make Corvettes and I did my undergrad……Woooot. The scene here is kind of fascinating . With millennial love of elevator music there are plenty of those gentle vibe bands…..but there is a very big rock undercurrent. They encourage people to turn up their guitars and play. I like it. With the incredible weather come every form of fitness and sun worship. The water, waves, mountains, and those sweet caves….

  93. The Original NJ ExPat says:

    Pumps is living the good life just a few counties away from NYC. He can even see the twinkling lights on Broadway from his house. Oh, wait. Those are just cars whizzing by.

  94. Libturd says:

    How much do you think you need to retire Pumps? And at what age?

  95. 30 year realtor says:

    Defend yourself from the government? The government should be kept in check by fear of armed over through from citizens? This is a specious argument! The government has you and your like minded, armed to the teeth civilian friends so out gunned that there isn’t a chance you could possibly prevail. The entire notion is nothing more than nonsense!

  96. Blue Ribbon Teacher says:

    I was not born a millionaire, so I did as much as I could with what I had. Remember, I put down 20% on my 650,000 home purchased at the ripe young age of 31.

    I put down 40% at the same age…and I was in school up until age 28. I’m not impressed.

  97. Mike S says:

    650K to live on a busy road? i’d never in my life pay that

    Location location location, can upgrade a crappy house in a great location, can’t move a great house in a crappy one.

  98. Libturd says:

    Wait, didn’t grammy put down the 20%?

  99. Libturd says:

    I have an even better success story, but it involves the long legged sister of Ms. New Jersey.

  100. D-FENS says:

    How’s the war in Afghanistan going? Did we win yet?

    30 year realtor says:
    March 1, 2018 at 12:42 pm
    Defend yourself from the government? The government should be kept in check by fear of armed over through from citizens? This is a specious argument! The government has you and your like minded, armed to the teeth civilian friends so out gunned that there isn’t a chance you could possibly prevail. The entire notion is nothing more than nonsense!

  101. joyce says:

    Right or wrong, if you don’t like the bedrock principles and laws of the country, the constitution must be amended. If you just ignore it and interpret it differently to suit your current desires, don’t cry when it’s ignored/interpreted in ways you don’t like in the future.

  102. joyce says:

    What we consider lobbying today and free speech regarding campaigning (unlimited money, etc.) is terrible… but it’s tough to prevent without either violating or amending the first amendment.

  103. Bystander says:

    Chi,

    A real tear jerker..if only those employees realized that they are paying for their raise via $1 trillion added to debt..but lets pat those big companies on the back..touching really.

  104. grim says:

    Defend yourself from the government? The government should be kept in check by fear of armed over through from citizens? This is a specious argument! The government has you and your like minded, armed to the teeth civilian friends so out gunned that there isn’t a chance you could possibly prevail. The entire notion is nothing more than nonsense!

    Suspect you may have forgotten how this country was formed/founded.

  105. chicagofinance says:

    Nancy MacLean, the Duke University historian who wrote Democracy in Chains, the deeply conspiratorial and much-criticized biography of public choice economist James Buchanan, told an audience in New York last week that Buchanan and other early leaders of the limited-government movement “seem to be on the autism spectrum.”

    According to MacLean, there is a connection between autism and libertarianism, and that connection is not feeling “solidarity or empathy,” and having “kind of difficult human relationships sometimes.” The implication is that libertarianism is similarly cold and unfeeling, and attracts people who don’t care about others.

    This decidedly unempathetic assertion was MacLean’s answer to a question from the audience at NYC’s Unitarian Church of All Souls: “Where do [Buchanan’s] motivations lie? Are they ones of personal greed? It seems like it’s a little grander, is it malevolence?”

    Democracy in Chains, it will be helpful to know, makes the case that Buchanan, who won a Nobel Prize in 1986 for his work on public choice theory, was sympathetic to the segregationist cause; in MacLean’s telling, Buchanan joined the burgeoning libertarian movement in the latter half of the 20th century because he wanted to safeguard the rights and property of white people. The evidence she provides is scant—and at times wholly flawed—which is probably why the historian Phil Magness, left-of-center academics Steven Teles and Henry Farrell, and many others, have thoroughly eviscerated her theory.

    When asked whether “greed or malevolence” was the better explanation for Buchanan’s desire to curb the power of the state, MacLean thanked the audience member for his “profound question.” Then she confides in a low tone, “I didn’t put this in the book but I’ll say it here” and goes on to explain:

    It’s striking to me how many of the architects of this cause seem to be on the autism spectrum. People who don’t feel solidarity or empathy with others, and who have kind of difficult human relationships sometimes.

    In Buchanan’s family, his grandfather had actually been a populist governor of Tennessee… he ended up a very bitter man but he was very well known, and Buchanan’s own parents wanted him to go into politics and have a political career. Buchanan says in his memoir, “there were early misgivings about my personality.” Like they knew he would never make it in politics. But who knows, this is speculation right? Part of me, since you’ve asked me in the way you have, part of me feels like there was this some kind of wound in him that he couldn’t be this political figure, and then he made it his mission to kind of debunk the whole of politics to show that no one who was in it was good. But I don’t know.

  106. grim says:

    Columbia, Mexico, and Nicaragua aren’t stocking shelves in Walmart!

    So by your argument, the fact that Walmart has moved thousands of back-office jobs to nearshore outsourcing is irrelevant if the last few people standing get a token raise?

    Yeah.

  107. Fast Eddie says:

    A real tear jerker..if only those employees realized that they are paying for their raise via $1 trillion added to debt..

    We’re you concerned when Obama added $10 trillion in 8 years?

  108. Fast Eddie says:

    We’re = Were

  109. Libturd says:

    I was.

  110. The Great Pumpkin says:

    I have no intentions of retiring, but I’m setting myself up so that I can choose to do so if I want. Also don’t want someone to have me by the balls. If I’m working, it’s because I want to. In my 50’s, passive income should be enough that I can live off it (if nothing major goes wrong).

  111. D-FENS says:

    Florida school shooter’s rifle only used 10 round magazines

    http://www.miamiherald.com/news/local/community/broward/article202486304.html

    Several state legislators who visited the school with crime-scene investigators said they learned from police that Cruz’s rifle was not top-of-the-line, perhaps explaining the malfunction.

    The “weapon and bullets were not high quality and were breaking apart,” one of the legislators, state Sen. Lauren Book, D-Plantation, told the Herald.

    Cruz went in with only 10-round magazines because larger clips would not fit in his duffel bag, Book said.

  112. 30 year realtor says:

    Grim, Are we talking musket and cannon or are we talking armored vehicles and large ordinance. If I were making odds the Colonists would have been a long shot against the British. For a group of citizen rebels with legal guns vs the US and local governments it does not even warrant setting odds. Even the local and county police have armored vehicles and other military surplus weapons that citizens cannot purchase.

    If I am debating on the side of gun ownership in the US I am not making the keep the government in check argument. Thee argument for raising a citizen militia due to a circumstance where the government has failed to protect would be far more effective.

  113. Fabius Maximus says:

    “Walmart has moved thousands of back-office jobs to nearshore outsourcing”

    So what percentage of the 1.4 million US employees are you outsourcing?

  114. Angry! says:

    Democrats…

    Today – Surrender your guns for the Children. There is no need to fear your government!

    Yesterday- OMG THE RUSSIANS HAVE INSERTED A PUPPET DICTATOR TO DESTROY OUR DEMOCRACY!

    Last November- OMG A INSANE MEGALOMANIAC IS IN THE WHITE HOUSE WITH THE NUCLEAR FOOTBALL!

    Last Year – OMG THE POLICE STATE IS GUNNING US DOWN!

    Two Administrations Ago – OMG THE REPUBLICAN’S ARE GOING TO REPEAL ROE V WADE AND EVERYTHING ELSE!

    But yes, lets give the Government the authorization to not only disregard amendments, but start with the primary amendment designed specifically as a check against the government itself, all directly due to the government’s failure to keep its citizens safe in the first place, all to avoid an “epidemic” that to date since 1982 (per Mother Jones) has claimed less lives the police kill in a single year (according to FBI statistics).

    And you know what… it may just happen.

  115. Bystander says:

    Fast,

    Not here to defend Obama who I disagreed with on numerous spending bills and cronyism but I am unbias enough to see difference between 10% unemployment vs 4% when entering office..or a dow headed to 6,500 vs. inheriting almost 20,000. Just like I can see born on third Trump and his minions claiming home run from a tax cut that is being paid by future burdens while teary eyed CEOs , dropping crumbs, wave the flag.

  116. The Great Pumpkin says:

    This was my second home purchase, not my first.

    “I put down 40% at the same age…and I was in school up until age 28. I’m not impressed.”

  117. Bystander says:

    Disclaimer: I work for the US entity of a European IB who sucked up the 14% tax cut and gave no raises. I am also actively looking for another job but finding low balling f*cks all around. Bitter I am.

  118. Trick says:

    Our company is using it to pay down debt, we are budgeted to receive only a 1% raise.
    But they still find a way to pay there dividends

  119. PumpkinFace says:

    What were the details on the first purchase?

    The Great Pumpkin says:
    March 1, 2018 at 2:58 pm
    This was my second home purchase, not my first.

  120. The Great Pumpkin says:

    What’s so bad about the location? Someone payed almost 1.3 million for the house across the street from me….they must be idiots too right?

    It’s a double yellow county road. Yes, cars drive down my road, but it’s not like a marathon line of cars. I don’t walk out my front door and automatically see cars driving down the road. They randomly drive by. I have no problem with it, otherwise I would not have bought it. This is not like some heavily driven main road, but it is a double yellow (35 mph).

    Not everyone has a phobia of a double yellow road. It’s convenient to live on these roads for some. Street is always plowed. Plus you don’t have to pay the premium to live at the end of a cul-de-sac.

    I have a very nice house that’s very appealing to the eye. It’s not some behemoth, but it’s very well detailed both inside and out. For example, I have copper gutters and beautiful wooden garage doors that cost god knows how much. Entire foundation wrapped in stone. Beautiful wooded ceiling on my front porch. 50 year roof made to resemble slate. Custom built shed outfitted in hardy siding. Brazilian tiger wood two level deck. Also, screened in porch area under the top level deck. Composite flooring and wood shingles both inside and outside screened porch area.

    I also take crazy care of my lawn. Last August I totally renovated entire lawn with Blueberry Kentucky bluegrass. It’s a mono stand. Came out pretty well. I have some bare areas that didn’t germinate, so will seed those areas this month with same top of the line seed species, even though it does a great job of spreading by itself. Majority of lawn cane in beautiful. Highly recommend this species, color is absolutely beautiful for our area.

    I have had random people stop to take pictures of my house. If I was at the end of a cul-de-sac, no one would be doing that. I happen to like that, it makes me feel good that people appreciate the beauty of my home. It’s a lot of work and money to keep your house nice, so it’s nice to hear random people compliment you on your home.

    Mike S says:
    March 1, 2018 at 12:57 pm
    650K to live on a busy road? i’d never in my life pay that

    Location location location, can upgrade a crappy house in a great location, can’t move a great house in a crappy one.

  121. D-FENS says:

    The point is not in favor or against gun ownership. It IS the reason that the second amendment was written, and given the current political climate, the amendment will not be removed.

    30 year realtor says:
    March 1, 2018 at 2:42 pm
    Grim, Are we talking musket and cannon or are we talking armored vehicles and large ordinance. If I were making odds the Colonists would have been a long shot against the British. For a group of citizen rebels with legal guns vs the US and local governments it does not even warrant setting odds. Even the local and county police have armored vehicles and other military surplus weapons that citizens cannot purchase.

    If I am debating on the side of gun ownership in the US I am not making the keep the government in check argument. Thee argument for raising a citizen militia due to a circumstance where the government has failed to protect would be far more effective.

  122. The Great Pumpkin says:

    1%? That’s fuc!ing criminal in this economy. What a bunch of selfish pricks. The writing is on the wall, get out of that company….they won’t survive this leg of the economic cycle with 1% raises. They will only attract bad talent that will take your company down.

    Trick says:
    March 1, 2018 at 3:21 pm
    Our company is using it to pay down debt, we are budgeted to receive only a 1% raise.
    But they still find a way to pay there dividends

  123. The Great Pumpkin says:

    So selfish! Sickening! Huge tax cut and they can’t even give a dime? You seriously need to keep looking, no way this holds up in this economy.

    Bystander says:
    March 1, 2018 at 3:06 pm
    Disclaimer: I work for the US entity of a European IB who sucked up the 14% tax cut and gave no raises. I am also actively looking for another job but finding low balling f*cks all around. Bitter I am.

  124. The Great Pumpkin says:

    I would say rather well.

    Also, if they wanted to, they could kill them all in a blink of an eye. Intentions in Afghanistan are only to kill those that fight back.

    D-FENS says:
    March 1, 2018 at 1:40 pm
    How’s the war in Afghanistan going? Did we win yet?

  125. The Great Pumpkin says:

    Bought a multi from my grandma. No, it was not given to me. She had 6 kids, so why would it just be given to one grandson. She did give me a slight discount on the price. I just bought it at the right time. Real estate was not in vogue, stocks were, so it was very good timing on my part. Bought before the early 2000s housing bubble. Due to the timing of the purchase, I have killed it on this investment. Took a 20% down payment and a 15 year loan, and knocked it out of the park.

    PumpkinFace says:
    March 1, 2018 at 3:26 pm
    What were the details on the first purchase?

  126. chicagofinance says:

    …….and you wonder why America is at each other’s throats…….

    https://nypost.com/2018/02/28/frozen-2-director-open-to-possibility-of-elsa-having-female-love-interest/

  127. chicagofinance says:

    I have killed it on this investment……. fka “I ripped off an elderly family member.”

    The Great Pumpkin says:
    March 1, 2018 at 3:52 pm
    Bought a multi from my grandma. No, it was not given to me. She had 6 kids, so why would it just be given to one grandson. She did give me a slight discount on the price. I just bought it at the right time. Real estate was not in vogue, stocks were, so it was very good timing on my part. Bought before the early 2000s housing bubble. Due to the timing of the purchase, I have killed it on this investment. Took a 20% down payment and a 15 year loan, and knocked it out of the park.

    PumpkinFace says:
    March 1, 2018 at 3:26 pm
    What were the details on the first purchase?

  128. Libturd says:

    Tiger Wood kinda sucks.

  129. Hold my beer says:

    Hopefully he kept her off the pole

  130. The Great Pumpkin says:

    Lol…good one.

    chicagofinance says:
    March 1, 2018 at 4:44 pm
    I have killed it on this investment……. fka “I ripped off an elderly family member.”

  131. PumpkinFace says:

    You’re too stupid to realize it was sarcasm.

  132. No One says:

    Chifi,
    I’ve heard about that biographical attack on Buchanan before. Here’s a summary of her argument:
    Buchanan argued that government officials are not angels but pursue their own interests, and that many take advantage of their power. Because I don’t like how that sounds I’m going to insinuate that he was a racist hater of humanity who was probably also autistic. And by the way, if you seek protection from overbearing government you’re probably an autistic jerk too. In contrast, I hold hands with others while singing songs and do lots of other virtue signaling to show that lovers of humanity like big government to smush all the people together into a collective.

  133. chicagofinance says:

    No one……what is the purpose of making such a statement for her? Does she really believe what is coming out of her mouth?

  134. The Great Pumpkin says:

    Yes, I should have known just another hater.

    PumpkinFace says:
    March 1, 2018 at 5:04 pm
    You’re too stupid to realize it was sarcasm.

  135. Regards Retards says:

    There There Pumpkin.You do you.

  136. Blue Ribbon Teacher says:

    Bought a multi from my grandma. No, it was not given to me. She had 6 kids, so why would it just be given to one grandson

    My parents bought my older sister and apartment in NYC at age 21. They didn’t even buy my little sister a car. Why?

  137. Juice Box says:

    Pumps – Before I call you a name again,stop already. We all know the story of the poor “tennis pro” who made it big in Clifton real estate.

    Now tell us why a house in Central Florida is worth more than your home?

  138. Juice Box says:

    Eddie

    re: “We’re you concerned when Obama added $10 trillion in 8 years?”

    Only concern is hugs and is it sans Vaseline….

  139. The Original NJ ExPat says:

    He just does it the pumpkin way. No numbers, no math required. Highly predictable. If you can’t pass HS math class it’s unlikely you’ll ever use math to any great good for the rest of your life.

    I have no intentions of retiring, but I’m setting myself up so that I can choose to do so if I want.

  140. The Original NJ ExPat says:

    30 year – you would have missed the main point then, just like you’re missing the main point now. The British could conquer any town, they just didn’t have the manpower to hold every town. The same would be true today. Further, imagine what happens in the well-behaved major cities if suddenly agricultural operations are stopped.

    If I were making odds the Colonists would have been a long shot against the British.

  141. Walking bye says:

    30 year, it’s actually kibdbof interesting how people behave during a disruption and it’s been studied though I don’t remember the actual timeline. It goes something like the first days of a disruption there is a shock in the community and life stops. Next there is a feeling of togetherness and assisting one another. Within a week though people turn on each other and violence ensues with chaos. Your best bet is to get out of dodge before this.

  142. Walking bye says:

    Oops I meant ex pay

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