From HousingWire:
CoreLogic: Home prices rose 6.9% annually in August
Home prices are up both year over year and month over month for August, according to CoreLogic (CLGX).
According to the CoreLogic HPI, home prices nationwide, including distressed sales, increased by 6.9% in August 2015 compared with August 2014 and increased by 1.2% in August 2015 compared with July 2015.
The CoreLogic HPI Forecast indicates that home prices are projected to increase by 4.3% on a year-over-year basis from August 2015 to August 2016 and remain unchanged month over month from August 2015 to September 2015.
…
“Economic forecasts generally project higher mortgage rates and more single-family housing starts for 2016. These forces should dampen demand and augment supply, leading to a moderation in home price growth,” said Frank Nothaft, chief economist for CoreLogic. “Over the next 12 months through August 2016, CoreLogic projects its national HPI to rise 4.3%, less than the 6.9% gain over the 12 months through August 2015.”
…
“Home price appreciation in cities like New York, Los Angeles, Dallas, Atlanta and San Francisco remain very strong reflecting higher demand and constrained supplies,” said Anand Nallathambi, president and CEO of CoreLogic.
August HPI for Metro, including distressed:
New York-Jersey City-White Plains NY-NJ – Up 6.8%
Philly – Up 8.6%
Statewide:
New York – Up 8.6%
New Jersey – Up 2.2%
Pennsylvania – Up 2.2%
Connecticut – Up 1.8%
Congratulations to long long long time friends Dan and Jeremy!
http://www.nj.com/somerset/index.ssf/2015/10/hillsborough_2.html#incart_river_home
Congrats to your buddies. Hope their brew makes it up this way.
Not sure how they market but Stirling Hotel is very microbrew friendly and pulls in large crowds interested in same. May have had a recent ownership change as there has been some movement on long time practices but could be worth a call.
Grim
I was at some micro brewery place in Fairfield a few weeks ago. It was a total industrial area, wouldn’t know it was there. The women had a baby shower so the dad to be brought all the men to this place that had all kinds of brew machinery and many forms of beer. I forgot the name of the joint. All I know is that my drinking days are long gone.
[2] grim
>like<
For what it’s worth…of all the beer majors, Sam Adams still brews the most crafty beer. In a way, they really were the pioneers of good beer in this country. Without them, we’d all probably still be drinking yeasty Miller and boring Bud.
From yesterday:
“The US is more than 29% of World Top Consumer Market coming next is Japan at almost 8.5%. Seems to me, we can really squeezed this companies and get what we want.”
Guys, I am talking about where international companies spend their capital – physical plant, hard R&D type dollars. Jobs.
I am specifically *not* talking about where these international companies sell their product. Consumers.
Employer v. consumer. We want the former. They will always have access to the latter.
Probably one of the more serious items I’ve posted in a while: Ignore these companies’ ability to relocate at your own risk. Whether we are speaking of companies locating from NJ to SC or from US to Ireland. A hubris of ‘we can squeeze them hard’ is the surest way to make them flee.
With $100B trapped outside of the US and the pack of jackals in DC looking to extract every last drop of tax revenue how soon do you think it will be before Apple says “fukc it” and drops a shiny new Cupertino outside of the US? Who’s that going to hurt? Apple? Or 2,000 of that year’s CS/SE college grads in the US looking to start a career?
You may not like it. But you need them more than they need you.
[7] left wing
I loved phoenix’ and plumpkins responses yesterday. Clear a call as can be made for impenetrable walls of protectionism.
I don’t know what a fully self- contained economy would look like. No exports and high-priced imports. Two easy calls are screaming inflation and the enviros going absolutely apeshite batty as they get tossed under a steamroller.
There would be a lot of collateral damage in their utopian economy, ring-fenced off from the rest of the world. Right now, the rest of the world puts up with the largest customer. When that status ends, watch out.
Gas was shut off. The explosion now appears to have been intentional.
“a beautician who may have used chemicals from her nearby salon”
http://www.ny1.com/nyc/all-boroughs/news/2015/10/7/police-investigate-whether-something-other-than-gas-caused-borough-park-building-explosion.html
leftwing says:
October 4, 2015 at 8:09 am
another deadly gas explosion in nyc last night. 10+ dead now over three recent incidents.
ban natural gas in apartment buildings, please.
D, I was tongue in cheek.
[7] leftwing
I predict a liberal interpretation and application of Exon-Florio should that come to pass.
Nom, it’s the hypocrisy of the left that kills me.
While I would not advocate ring fence protectionism if that is the way the country wants to go so be it. Just be honest about what you are doing and understand it will have real economic consequences – it will not come for free for the US.
On the tax issue multinationals are being skewered for legally reducing their statutory tax rate and saving money by eschewing some ill-defined ‘social duty’ to their community by people who do exactly the same in their personal lives through:
Taking every personal tax deduction available to them
Utilizing HSAs, 401Ks, and IRAs to reduce tax liability
Buying their vehicle from the regional superstore not the local dealer
Shopping Home Depot rather than the local hardware store
Shopping Costco rather than their local supermarket
Shopping Amazon rather than their local Main St
And on…..
Until these critics are willing to file their taxes without any of their allowed deductions and toss their club cards to pay more for a product to support their communities they have no right to call out multinationals for behaving the same way.
It is the ultimate hypocrisy to hold a multinational company to a ‘community standard of social duty’ while you are paying less than your personal statutory tax rate and your wallet is fat with national chain store club cards.
I really feel like I need a good shower sometimes after dealing with the left.
We won’t win a tariff war? We can’t sustain our economy on our own market with a few other markets sprinkled in? You are being taken for a ride if you think otherwise.
Comrade Nom Deplume and his amazing trick back says:
October 7, 2015 at 8:05 am
[7] left wing
I loved phoenix’ and plumpkins responses yesterday. Clear a call as can be made for impenetrable walls of protectionism.
I don’t know what a fully self- contained economy would look like. No exports and high-priced imports. Two easy calls are screaming inflation and the enviros going absolutely apeshite batty as they get tossed under a steamroller.
There would be a lot of collateral damage in their utopian economy, ring-fenced off from the rest of the world. Right now, the rest of the world puts up with the largest customer. When that status ends, watch out.
13- We hold all the cards, so why are we not using it for the good of all America, instead our policies are totally shifted towards rewarding the 1% and screwing everyone else. Why can’t you see this?
They conduct their personal lives in exactly the same way as a corporate yet they are shocked – shocked and horrified! – with the corporation and yelp and bay for change.
Piously indignant hypocritical pr1cks.
“We hold all the cards, so why are we not using it for the good of all America, instead our policies are totally shifted towards rewarding the 1% and screwing everyone else. Why can’t you see this?”
You don’t hold all the cards. You’re sitting there thinking that two pair is royal flush and going all in.
If you are referring to protectionism go for it. I don’t believe it is the right thing to do, as I do not believe unfettered free trade is the right thing either.
If any nation can pull it off with the least amount of pain the US can. But understand there will be pain and by nature it will affect those on the lower rungs disproportionately.
Shocking, no different from the average American who despite pledging allegiance to the confederate flag, wouldn’t actually ever buy anything American, instead spending their dollars with the lowest cost foreign provider of a product or service.
How? If i was like these bloodsuckers, my tenants wouldn’t have the same rent level as when they moved in 7 years ago. I’m not anything like these individuals with no conscience who turn their back on their communities and country.
leftwing says:
October 7, 2015 at 8:28 am
They conduct their personal lives in exactly the same way as a corporate yet they are shocked – shocked and horrified! – with the corporation and yelp and bay for change.
Piously indignant hypocritical pr1cks.
Pumps, the bottom line on the mutinational tax issue is that they are driving their tax rate beneath the effective US rate through effective and legal tax planning.
Until you are willing to file *your* taxes without your legal tax advantages you have no standing to criticize them.
Or, if you do, you are a hypocrite.
If you want to take the two inconsistent stands wear the label proudly. It is part of the dress code of the knee-jerk liberal.
The current trade agreements are hollowing out the consumer’s ability to create demand. How in the world can protectionism be worse than this, the money is slowly leaving the country?
leftwing says:
October 7, 2015 at 8:31 am
“We hold all the cards, so why are we not using it for the good of all America, instead our policies are totally shifted towards rewarding the 1% and screwing everyone else. Why can’t you see this?”
You don’t hold all the cards. You’re sitting there thinking that two pair is royal flush and going all in.
If you are referring to protectionism go for it. I don’t believe it is the right thing to do, as I do not believe unfettered free trade is the right thing either.
If any nation can pull it off with the least amount of pain the US can. But understand there will be pain and by nature it will affect those on the lower rungs disproportionately.
20- Also, why is alright for every other major economy to have protectionist measures? Why are we the only ones with the (almost) wide open access to our market? Why, if no one else does it? Our ultra rich are selling us out and you just don’t realize it. You offer defense for their actions.
At the distillery we are using bottles made in America, we are using corks/tops that are made in America. Needless to say, all of our raw materials are not only American, but sourced as locally as possible. Barrels are American oak, made in America. Labels are made in America. Whiskey, Rum, and Gin made right here, by hand.
“The current trade agreements are hollowing out the consumer’s ability to create demand.”
“How in the world can protectionism be worse than this, the money is slowly leaving the country?”
OK, Pumps no more replies to you after this one. I don’t have time today to get trapped in the cone of illogic.
Your first statement is non-sequitur. It literally makes no sense whatsoever.
On protectionism it is like being the victor in a street brawl. Yeah, you are the one left standing but you are surrounded by bodies and bloody and beaten. There is a side of me that could be persuaded to go a limited protectionist route. The difference between you and I is that I suspect you think protectionism will be some magic elixir while I understand it will be cutting off a major limb to potentially better the body.
Its not easy to get American glass either.
Ardagh/Anchor Glass in NJ closed just this year, 150 years of operation. Very sad.
Rumor is that Snapple moved their glass to China, so 300 NJ workers lost their jobs.
I bet you the difference was probably 3 cents a bottle.
Grim, 24.
You’re probably right. And it is a shame.
Even worse – and I am very far from Greenpeace – is that somehow the economics work to manufacture that glass in China while paying all the transport costs to *ship it over here*. Biggest waste of productive resources and unnecessary consumption and pollution describable.
Beware the TPP.
I remember as a kid going to brookdale soda, bringing back cases of empties and picking up cases of soda. Bottles were cleaned and refilled numerous times.
Use your time wisely Grim. You’re like the Drudge of Real Estate.
[Matt] Drudge asserted that copyright laws which prevent websites from even linking to news stories were being advanced.
“I had a Supreme Court Justice tell me it’s over for me,” said Drudge. “They’ve got the votes now to enforce copyright law, you’re out of there. They’re going to make it so you can’t even use headlines.”
“To have a Supreme Court Justice say to me it’s over, they’ve got the votes, which means time is limited,” he added, noting that a day was coming when simply operating an independent website could be outlawed.
“That will end (it) for me – fine – I’ve had a hell of a run,” said Drudge, adding that web users were being pushed into the cyber “ghettos” of Twitter, Facebook and Instagram.
News media is in for a shock, the main factor in helping the survivors make the transition from print to digital media were the blogs. Perhaps I’m biased.
Blogs and other websites drive traffic, they provide visibility, they enable better search rankings, etc etc.
I have a stack of cease and desists that is a foot high. You name it, their lawyers sent me demands to remove all links. At one point the NJ papers even fired shots across the bow.
There were probably a hundred links/articles removed over the years. Hell, I’ve even been threatened suit by people named in articles, claiming I’m party to slander.
The small media outlets are going to be the ones who suffer, as will new and provocative writers. Blogs provide enormous visibility to these smaller venues and authors that simply wouldn’t gain the kid of notoriety without the visibility.
Seems to me,the biggest problem is how do we stop domestic Companies from having foreign Subsidiaries for tax haven? This is where the most of the problem occurs. How do we stop a domestic Company buying a small foreign Company and make it look like the domestic Company is losing money and the foreign Company is making tons of money and pay the Tax Haven Tax rate? You say, Lower our Tax rate to the Tax Haven tax rate. Ok let us do that. Will that stop the domestic Company from Building a Foreign Subsidiary? I think not. He gets a tax break on losses in the US and still pays the lower tax rate in the Tax Haven Country. 2nd. If the Company brings home earnings from the foreign subsidiary, he will still pay zero tax in the US because we match the Tax Haven tax rate. There is no Double Tax. If the Subsidiary paid 10% on taxes in the tax haven we need to give the Company a 10% credit that was paid and if we matched the 10% tax rate the Company might end up getting a Refund after deducting cost of accounting transfers. No?
I can see why these guys want to do it, they want to own the conversation, what happens here, the dialogue.
You’ve all seen it.
There are 100 times as many regular visitors and views on a topic once you include the discussion. That drives traffic, readership, regular visitors. That’s what they need to drive advertising revenue.
They don’t care about the copyright. They want to own the discussion. Imagine if that discussion moved from 100 disparate blogs into a single place. The traffic and eyeballs would be enormous.
It’s slowly happening organically. Look at the discussions on NJ.com. 5 years ago nobody posted there, it was a ghost town. Now they’ll get 300+ comments on an article.
30 – Easy. Eliminate corporate and income taxes and move to a pure consumption tax. Something like a 30% tax on all goods and services, including those imported and exported.
If you can’t control the tax on manufacture, or where the service activities are performed, you tax the consumption, which can’t be off-shored.
“Now they’ll get 300+ comments on an article.”
Yes…300 comments claiming it’s either the blue team or red team’s fault.
Grim – ‘Flounder’ Really? Makes me think of the movie “Animal House’. :).
https://www.youtube.com/watch?v=0Dy2fo6E_pI
“Drop and give me twenty” Sheet, I had to do 50.
*BTW – Flying Fish is a good NJ microbrew.
Zero point zero.
Love it! LOL!
This is the Delta house? Right?
“Seems to me,the biggest problem is how do we stop domestic Companies from having foreign Subsidiaries for tax haven?”
If this is what you believe you are in more trouble than I ever imagined.
1. Anytime you need to ‘stop’ something entities will find a way around it including location, ie you can’t ‘stop’ it.
2. You do understand this has little to do with US revenue and US profits? The ‘tax haven’ talk is about legally incorporated foreign subsidiaries doing business outside of the US organizing their affairs outside of the US to minimize their outside of US taxes? In other words, the jingoistic and imperialistic p1gs in the US feel they have the right to reach in between European revenue, European corporate structure, and sovereign European governments with their own tax code to take money for the US. Who the fukc is the US to do that? Get outta here you arr0gant b@stard.
Grim 29.
Or original content generating discussion becomes king.
Nom can write a law column open to discussion, I’ll do business, Pumps can be parody, and there are more than enough people to politics and real estate.
Idea copyrighted, btw.
I can be the coupon section.
I second Grim’s consumption tax motion. Tour the extent you must tax, consumption is much better than production and savings, both being the drivers of long term economic growth.
I wrote a regular column for NYU’s MBA newspaper. It was a lot of effort, but fun. And divisive.
2. Grim, if these guys need to borrow some money I know a couple of other guys that can lend them investment capital.. Moral and upstanding citizens….
http://www.bloomberg.com/news/features/2015-10-06/how-two-guys-lost-god-and-found-40-million
Sorry to be impatient, I asked a question yesterday concerning Transaction Broker. Basically I was making an offer on a house in Fort Lee, and only by reading the offer sheet that our agent was “Transaction Broker” not Buyer’s Agent. He never verbally discussed it with us. So I stopped everything… Isn’t this type of information be disclosed legally when dealing with an agent? He is now saying that nobody want to sign Exclusive Buyer’s Agent Agreement for 6 months, but he’ll do it here.
Just want your opinions since I’ve been lurking here for a while and “trust” your opinions more than this dude at this point.
TIA
To expand on 38.
Most countries outside of the US generally only tax entities (people and corporations) on income actually generated within their borders.
The US is one of a very few countries (and nearly alone in the developed world) that taxes its citizens on worldwide income. That frame of reference is important. The US begins as an outlier tax pig at the trough. Most countries determine what earnings you have only in their country (even if you live there or for companies are incorporated there). Again, even although you may live in a certain European country you are generally taxed only on your earnings in that country, not on earnings in other countries.
A common tax structure causing all the uproar has a multinational forming two Irish subsidiaries *for its EU business*. One has all the EU operations except IP. The other *Irish* subsidiary has all the IP but operates physically and legally in a no/low tax country. The *Irish* IP subsidiary then licenses the IP to the *Irish* operating subsidiary. Since IP has substantial earnings associated with it the net effect is moving these *European only* earnings from one higher tax *Irish* subsidiary to a much lower taxed *Irish* subsidiary.
So what facts do we actually have here? The business is all European – no US generated revenue or profits are associated with this. The incorporation is all European. The tax locations are all European. The two subsidiaries are incorporated in the same European country for G0d’s sake, ie the Irish are OK with two Irish companies moving their operations around to minimize their Irish taxes.
So why is the US even involved at all in this totally European issue? Because as the pig at the trough we want taxes at US rates for companies’ earnings EVERYWHERE, even for their all European businesses. We base that outlandish claim on the fact that the company is incorporated and headquartered in the US.
So if I am a US based multinational facing the US reaching into my all European business for taxes *even though the Europeans themselves are alright with how I am structured over there* what is my solution?
Yup, you got it. See you later US. We are moving. We are re-incorporating and taking our headquarters to Europe. Now the US only gets taxes on just the US business and any cash that would have been trapped is sprung free.
Hey US, pigs get slaughtered.
And, again, capital moves to where it is treated the best.
Transaction broker essentially means he owes you no fiduciary responsibility. His responsibility is only to facilitate the transaction.
19 LW,
I like the term “legal tax planning.”
What exactly is the function of a lobbyist? Do these lobbyist’s pay politicians to help pass laws to promote certain tax advantages?
So yes, I agree the corporations ARE working under the laws-the one’s they have bought and paid for.
Look to the house on the left of yours, across the street, then to the right- any of those guys paying a lobbyist to a bribeable politician for a tax break?
So in your example, one is a hypocrite for benefiting/adhering to a law that they had no hand in creating, whereas the other a saint for adhering to a law that they created all by themselves…
“Mutinational tax issue is that they are driving their tax rate beneath the effective US rate through effective and legal tax planning.
Until you are willing to file *your* taxes without your legal tax advantages you have no standing to criticize them.
“I can be the coupon section.”
Lib, F-that. It’s been long on my calendar that once my desk clears I’m going to make you an offer you can’t refuse to turn you into electronic media and we will both be bazillionaires.
Yeah I got that part… I just feel like Pig that is bout to get slaughtered, so I’m wondering if this normal practice with real estate agents in NJ. (on buyer’s side)
“Look to the house on the left of yours, across the street, then to the right- any of those guys paying a lobbyist to a bribeable politician for a tax break?”
Phoenix, yes. Each and every house to the right and left of you and me.
It’s called NAR and *your* mortgage interest deduction.
Somebody with actual RE broker knowledge answer Choo. He’s dying here……
We do actaully have ‘real estate’ in our title lol.
51. used to have more listing here few years back LOL
Sign of a healthier RE market? Need to find something else to b1tch about now, LOL.
Even Fast Eddie acquiesced.
45 LW
“The US begins as an outlier tax pig at the trough.”
I could see that. However, we also have a behemoth of a military that is all over the world to protect these “multinational” corporations. I’m sure it is quite expensive to maintain this defense. So yeah, asking them to cough up a few bucks in profit in order to protect them, (they are citizens) is not too much. American military bases are all over the world protecting the interests of these companies and that has a cost that needs to be paid.
54 – Phoenix,
I could be wrong, but I would assume most places Multinationals due business are not the same places our Military is present and/or required for stability or protection.
If anything, I would argue the funds received from Multinationals is already given in support of sending our military into high risk zones, with little economic incentive to do so, for the perceived safety of the American People and not to the multinationals direct benefit.
But if I am mistaken, let me know.
Seems our military is more interested in protecting sand than IBM. Can’t seem to recall invading Cuba because United Fruit was nationalized.
The specificity of your argument is specious. In no US multinational board room are members saying “whew, glad we are headquartered in Palo Alto just in case we need to pick up the phone to the Joint Chiefs…”
What I will grant you is that the willingness and ability of multinationals to relocate is directly correlated to the political stability of the area in which they are considering, ie it’s not worth saving a few bucks to move into a war zone.
I think I cautioned recently on corporate mobility that we are not in the 1970s or 80s anymore. I agree that macro picture the end of the Cold War and subsequent European union including currency (much lower costs, no need to hedge 12 currencies), politics, and rule of law has made it much easier to move.
And, factor in a generally skilled, adequately educated workforce that speaks English and is culturally similar and the winner is…..Ireland.
Capital moves where it is treated best.
NJ, SC, US, IRE.
The trade and tax threads have so much misinformation in them that it’s hard to know where to begin. Winning the argument is easy but doing it properly takes time, time I don’t really have. Suffice it to say, if a particular person’s argument strikes you as BS, it probably is.
I never checked transaction broker, I don’t know many people who have ever checked transaction broker. In my eyes a transaction broker is a specialized model where the buyer and seller understand that they are hiring an individual simply to facilitate a transaction, not represent them. This is atypical given the rest of the activities that take place. If that agent showed you two properties, he or she is acting as an agent, not as a transaction broker.
That said, I’ve never ever required anyone to sign an exclusive buyer’s agency contract, nor do I think checking the buyer’s agent box requires that. An agent can represent you and your interests without forcing the buyer into a multi-month contract for exclusivity. By the way, exclusive buyer agent agreements aren’t worth the toilet paper they are printed on.
Honestly, it probably has more to do with his or her office, and what they were told or trained to do, and do it out of rote.
Otherwise, it gives them a complete out from a liability perspective. Lets say for example, they knew about an underground oil tank, but didn’t disclose it to you. As a transaction broker, they are not liable. As an agent, they are. If you try to sue them, you will lose, they are not your agent, there is no agency relationship, they owe you no fiduciary duty. Likewise, you probably wouldn’t ever find them negligent.
If there is a listing agent on the other side, and your agent is listed as transaction broker, why the hell would you use them? In that transaction, nobody has any responsibility to look out for your interest, except your attorney.
Nom, me? LMK.
I am neither an international tax accountant nor lawyer. But I have been first hand in the middle of some of these corporate transactions. I stand by the argument and conclusion. Tell me the US isn’t the most aggressive international tax regime as related to the geographic origin of earnings. If some individual facts may not be spot on, seriously I’d be interested in knowing.
Personally, from the individual side, I can assure the idiocy of the US international tax regime as I lived it for about eight years (five years overseas and thanks to the US a three year ‘tail’ after I moved back). My 2006 tax returns were literally *bound*, they are no joke nearly two inches thick. Sadly that was with most of my earnings at the time being W2. Can’t imagine what it would have been if life were a bit more complicated then.
New Jersey Transaction Broker – https://www.youtube.com/watch?v=-1E-32E0Xqk
I don’t agree with all the points here, especially confidentiality, as the agent is financially motivated to close a deal with no liability. Weigh those considerations as you will.
Even Fast Eddie acquiesced.
That’s when you know the end is truly nigh!
Hey Nom, related to the above you’ll appreciate this.
The firm had its accountant (Big Four at the time, PWC) do our individual taxes overseas due to the complexity. Standard ‘benefit’ for US expats. Letter comes from the accountants including the exculpatory phrase stating that the returns are at the end of the day mine and I’m responsible for everything on them.
Not only did I not sign it, I replied stating I’m essentially disclaiming the returns as I have no idea of the underlying law and that it was so complex and dense I had no way of becoming educated enough to opine whether they were correct or not.
Caused quite a stir, right up to corporate HR.
I’m going to try to use that with the IRS next year.
Makes you wonder, shouldn’t tax law be so simple that even Joe 6 Pack can understand it?
Yup, exactly as I thought. He didn’t disclose this info verbally and tried to sneak it in as part of the offer.
Now I’m wondering if this is illegal or just not “ethical”!
If I make an offer w/ another agent will this became a problem since he showed the house to us? (even tho we found it and asked him to show it to us) We have signed nothing at this point…
Thanks Grim… all I needed was confirmation. I donated to the site… get you some hipster 6 pack.
CIS What must be done:
1) Inform buyer/seller – lessee/landlord of the four business relationships:
To the Buyer:
a) verbally– prior to the first discussion at which the buyer’s motivation or financial ability to buy is discussed.
b) written – give the Consumer Information Statement at first business
meeting prior to the discussion of the buyer’s needs. Definitely prior
to the showing.
LW: I agree with you. Foreign income should not be taxed but that is not the current law. It is either we change the law or we cover the loop hole. Thousands of Expats living abroad paying their share.
Consumption Tax will eliminate income from abroad to be taxed. Everything will be Domestic Taxes. Again we either change the law or cover the Loop Hole.
Will lowering the Corporate Tax rate make the Companies eliminate Foreign Subsidiaries? Will it bring more foreign earnings from the US foreign subsidiary to the US? I think Not. As explained in #30.
I see your point and you are absolutely right but that is not the current law
66 – sounds like Grim better put that money towards his legal defense fund.
No worries Grim, that stack of cease and desist letters is your indication that you’re doing something right.
Yome
We’re getting closer. Difference is I don’t see corporations managing their affairs in accordance with existing law especially for maters mostly outside of US as a ‘loophole’.
Separately, I would be OK with a consumption tax (or VAT) provided that if and only if all income taxes go away and are assured to stay away. Like amend the constitution certainty.
Otherwise, as sure as the sun will set in the West tonight, income tax rates will go down initially with the implementation of a consumption tax and within a decade be right back where they were without any commensurate decrease in the consumption tax.
The real problem we are all not discussing is DC’s insatiable, bottomless appetite for our money.
https://www.washingtonpost.com/news/grade-point/wp/2015/10/07/why-you-shouldnt-be-surprised-that-convicted-criminals-crushed-the-harvard-debate-team/
Last month, a debate team of three inmates with violent criminal records defeated a team of three Harvard University undergraduates.
Dewey LeBouef partners being tried found not guilty.
Wow, I remember both Dewey Ballantine and Lebouef Lamb.
Shame.
Huh. Seems like we scared off plumpy and anon.
That’s no fun.
Shocking, no different from the average American who despite pledging allegiance to the confederate flag, wouldn’t actually ever buy anything American, instead spending their dollars with the lowest cost foreign provider of a product or service.
When I still played guitar, I was big into equipment. The effects pedal manufacturers were all outsourced and the electronics they used were lower quality materials which affected the tone of your guitar noticeably. Kinda sad that they sacrifice the quality of their product to save a whole 25 cents in raw materials on a product they sell for $50. But when you sell your pedals to a bunch of 15 year old newbies, they wouldn’t know the difference.
There are bunch of domestic manufacturers of pedals who do it in their basement. The casings are made more durable, the electronics are flawless, and the tone you get from them is 10 times better. Instead of $50, you fork out $150 for the equipment. I always went this option, because I liked their product. Quality was what I was after.
I have a theory that the sacrifices we make for lowest cost end up costing us more. Every blender you buy from target will break and sooner rather than later. Meanwhile, I have my grandfather’s blender from the 1960s. The thing is an absolute tank and never stops.
69 LW
“The real problem we are all not discussing is DC’s insatiable, bottomless appetite for our money.”
I agree. Here is where your bottomless appetite for money goes. Medicare and Social Security- If you want to attack the big spending, there is your target..
And now comes the fun part, who gets to decide the winners and losers in that game.
Keep raising the age of retirement so less can collect?
Cutting the current payment to retirees, like they are doing to the Chicago Teamsters?
Grandfathered??
The federal government is budgeted to spend $3.8 trillion in FY 2015, of which about $0.6 trillion is transferred to state and local governments. Federal pension programs, including Social Security, will cost about $959 billion; federal health care programs, including Medicare and the federal share of Medicaid, will cost $1,018 billion; defense, including the Departments of Defense and State, and the Veterans Administration, will cost about $814 billion. Federal welfare costs will come in at $376 billion, and federal education programs will cost about $149 billion.
http://www.usgovernmentspending.com/current_spending
Ben, I agree.
Have a snowblower from the 60’s made in America.
Have had parts made for it by a local machine shop to keep it going.
Built well enough for my kid to use it in her old age…
“I have a theory that the sacrifices we make for lowest cost end up costing us more.”
Totally agree. In money and more importantly time. The cheap toilet tank fixtures are killing me. Two toilets running now as they have broken, likely replace four or five annually. I am delaying a Home Depot run, need to find time to see if I can retrofit the old metal ball and chain and find some on line. LOL.
To grim’s earlier point on the 3 cent difference on the glass bottle. I wonder how much overlap there is among the people gnashing and grinding their teeth over the outsourcing of US glass jobs and the people who come back from costco elated they just picked up a twenty pack of Snapple for $4.99.
Can’t have one without the other, and ultimately consumer demand drives the product manufactured. Want volume, cheapest price, and indifferent to quality? Jobs outsourced to produce. Want (or willing to accept) low volume, better quality, but pay more? Stays onshore.
Want to fix the glass outsourcing? Don’t pack the SUV with Snapple and buy something local and artisanal.
examples of it are provided herein every day, all day long
Comrade Nom Deplume, the anon-tidote says:
October 7, 2015 at 11:42 am
Suffice it to say, if a particular person’s argument strikes you as BS, it probably is.
BTW, I doubt Snapple bottles are made in China. The cost of bottles relative to the volume they occupy in an ocean container makes me suspect that would be cost-inefficient due to transportation costs.
The less space and weight something takes up relative to its cost makes it more likely to be importable from afar. Furthermore, glass doesn’t have high labor cost content. The cost is mostly sand and soda ash, plus the energy to melt it, plus the cost to transport it. I doubt the costs of those stack up much in favor of China, unless the US government has piled up so much regulation on manufacturing and energy that it artificially pumps up US costs.
This is why you also never see paper towels and other low value bulky items from China.
Comrade,
Seems like you’re getting busy again. We’ll, busy enough to not answer anyone’s question/comment… but just enough time to remind us you’re know the answer yet are busy.
Looks like Chinese are competing for wine bottles though:
http://www.advancedlabelsnw.com/blog/chinese-glass-bottles-inexpensive-or-cheap
“A three-story, 55,000-square foot Toys R Us store will be added to American Dream Meadowlands, a long-delayed mall and entertainment center in New Jersey, the toy company announced. The new location will include the company’s branded FAO Schwarz products”
re: Cheap imported Chinese Glass.
bongs aren’t made in the USA anymore either.
63. This is the end…..beautiful friend….the end…..
Ignorance of the law is no excuse; unless you write or enforce the laws, then ignorance is not only bliss it’s a free pass.
grim says:
October 7, 2015 at 12:11 pm
I’m going to try to use that with the IRS next year.
Makes you wonder, shouldn’t tax law be so simple that even Joe 6 Pack can understand it?
69
Leftwing,
But the money doesn’t stay in DC does it?
Pretty sure that 50 years ago, you’d be laughed at if you said you were going to buy iced tea in glass bottles.
A-none;
Just curious since you’re such an expert on raising the minimum wage — how many people on your payroll? Do you pay any of them less than $15/hr? hat percentage of the workforce?
84 – Is law for the people, or for the lawyers?
I will not be monetized. Well for the right price…
Leftwing [75];
I wonder how much overlap there is among the people gnashing and grinding their teeth over the outsourcing of US glass jobs and the people who come back from costco elated they just picked up a twenty pack of Snapple for $4.99.
Snapple bottles sold in Costco are plastic. So what’s the outrage du jour there? Funding terrorism by patronizing “BIG OIL”? Or supporting US refiners by finding a market for their byproducts?
Grim [65];
Problems with tax law reform:
1) Every single deduction has a constituency that bought and paid for their little exclusion. Can’t hold a candle to the heat that can be brought to bear for “simplification”;
2) What else can the politicians sell but amendments to the law? You may know the DC term “milk run” — its when a scary bill is proposed (that may have little or no chance of being enacted) and congress critters sends “Dear Constituent” letters to interested and affected parties soliciting donations to “Stop this travesty from ever becoming law!” Cha-ching!
3) There is literally a billion dollar industry built around tax prep and compliance, from the big 4 down to Jackson Hewitt and H&R Block. I know an old acquaintance with a PhD in materials science from MIT who ended up working processing forms for the IRS in Georgia. All of those jobs instantly go away if people can file their taxes on a postcard.
I’m not saying any of these are GOOD reasons not to change; but they are legitimate ones.
I was going to say the analogy of the NAR was a huge stretch… but it’s not, it doesn’t fit. The NAR lobbies on behalf of realtors and other industry players, not homeowners.
leftwing says:
October 7, 2015 at 11:09 am
“Look to the house on the left of yours, across the street, then to the right- any of those guys paying a lobbyist to a bribeable politician for a tax break?”
Phoenix, yes. Each and every house to the right and left of you and me.
It’s called NAR and *your* mortgage interest deduction.
91
Moose,
Agreed, though I would reclassify them from reasons to impediments. And don’t forget about the lawyers.
I actually did a shipping audit once. Very brief many years ago.
When you ship long distances via cargo ships freight costs vary widely depending on what you are shipping and if they can ship both ways. And insurance is a big factor.
Cheapest thing to ship is Lumber. It can’t sink, if it goes in water, not damaged. No pollution hazard.
Most expensive toxic, heavy items that sink that if land on the ocean floor has to be cleaned up. Also more dangerous as boat more likely to sink.
Moral of story was a boat full of lumber that floats is almost impossible to sink, a boat full of heavy things with dangerous chemicals, explosives, heavy stuff like cars, or metals good luck in a storm.
I was told crews like sneakers, furniture, lumber. A boat full of washing machines and fridges even no so good, you sink like a brick. A metal boat full of metal. Not good.
Thomsville furniture during audit had a boat coming in from Asia. I was told during audit that was a good boat. Entire shipment floats
Once they had a shipment of Toyotas in a storm and boats rolled into ocean. I heard bad ship. Don’t want to be thrown into water with 4,000 pound metal cars coming out. Rather be in water floating coffee tables and dressers.
[77] a not
“examples of it are provided herein every day, all day long”
Then I suggest you and pumpkin step away from the keyboard
[79] Joyce
Yup. I’d go into more detail but, hey, busy
[61] leftwing,
No, not you. You make sense. But it was either Yome or Phoenix that was so off base on one description, it wasn’t funny. Was going to dive in but there was so much wrong, I would have written a treatise.
And as Joyce pithily observed, I ain’t got time for that.
D-FENS says:
October 7, 2015 at 1:12 pm
Huh. Seems like we scared off plumpy and anon.
Just say something capitalistic and they’ll come out. Like deer to a salt lick. Too bad I can’t dispatch them similarly.
86: Grim,
Or water for individual consumption.
I know this has been discussed in various forms, but I didn’t know there was a term for it. Had anyone heard of the “Bennett Hypothesis”? I don’t necessarily agree with it in the entirety, but the gist sure is accurate.
http://www.accountingtoday.com/news/tax-practice/congress-eyes-impact-of-tax-breaks-on-rising-tuition-costs-76039-1.html
The best way to get onto a quick path to protectionism is to start a big, fat war.
Hell has frozen over
http://www.northjersey.com/news/after-years-long-battle-tenafly-signs-police-contract-with-no-raises-for-three-years-1.1427309