A Suspect Rally, Leaky Tax Records

Looks – based on early futures – like the market is heading skyward with the Dow pointing to a +350-point pop at the open.

Unfortunately, there are too many moving pieces for the rally to be called sustainable on a number of fronts.  We can wade through them one-at-a-time and I think you’ll see what I’m talking about.

Slamming Trump Finances

Biggest buzz on the net this morning seems to be the NY Times piece over here on Donald Trump’s reputed income tax filings.  The headline is interesting, too:  “Long-Concealed Records Show Trump’s Chronic Losses and Years of Tax Avoidance.

The story – while certainly damaging to Trump – leaves us asking a number of critical thinking questions that (for now) remain in the “Unanswerable column.”

  • The  NY Times doesn’t say where the records came from.  Since we know Trump has been under ongoing review by the IRS, did the  Times get the records from an “official source” and – if so – why aren’t people going to jail?
  • The  Times  also doesn’t give us a clinical definition of what a “billionaire” is.  And that’s something of a critical point.  For example, is….
    • A Billionaire someone with $1 billion of assets?
    • …or is a Billionaire someone with $1-billion of “net worth?”
    • …or is a Billionaire someone with $1-billion of “ready cash?”
  • Last, but not least, is why does the reporting on this not honor the Tax Code, instead of making use of the Tax Code “bad”?

People With Real Money…

,,,march to a “different drummer.”  They are pretty clear on the principle of “not confusing “work” with “income.”  They are only weakly related.

Just to give you a thumbnail:  If you are an “employee” you take an employer’s check –  taxes are witheld.  And at the end of the year, that’s broadly what you made and what you owe on.

But, owning a business is a whole OTHER way of Life.  It’s the difference between being a “worker” and being an “owner.”

America Treats “Owners” Very Well

Say you stop being an employee.  Instead you go into some kind of business.  Look at how you can “work” the tax angles (and these are only a very few!):

  • What you wear to work (in your business) may be deductible.  Uniforms.  Or, in Hollywood, where appearance is the product, make-up, wardrobe, grooming, trainers may qualify… because that’s your product…
  • When you go to a work location, your vehicle becomes an expense item:  You can depreciate it, charge-off your gas, maintenance, insurance, and more…  (Or you can claim the IRS allowed mileage deduction.)
  • If you have a separate building for your business, all those expenses are a write-off against income.  Rent/mortgage, utilities…Including the biggie:  Depreciation.
  • All your tools and supplies (including office furniture, computers, software, phones, and related,. your expenses may include pens, paper, furniture, office chair, postage…the list is endless.
  • Bad debts are deductible.  Taxes generally…fees and commissions paid….
  • People in a hurry can (of course) write off their  airplanes.  Because time is money and it’s customary for high-end execs to have a business jet…No airport delays for them, by golly.
  • There are limitations on entertainment, food, and travel.  But if you don’t understand that many T&E (travel and entertainment) expenses are totally legit, you’ve missed understanding the tax-advantaged Life of Owners.

At the end of the day, the  NY Times “tax story” seems to us to exploit the public’s lack of understanding about how the two economic classes in America work. 

Those who file long-form is one class of folks while those who have a less than 4-page return are plebes.  (Disclosure:  The Ure’s tax filing for 2019 was 42-pages, for example.  And we’re super conservative in what we write off and we NEVER  try to “push it.”  In “the game” – we “know our place.”)  In big real estate organizations, everything is open to “pushing.”  The public may be appalled, but that’s “the deal” and if you’re an “owner” – you love it!

Bottom line:  The Trump “tax revelations” story has “shock value” only if you don’t know “how the game works.”  When you do, it’s a kind of ho-hum.

We’ve always assumed Trump was basing his “billionaire” claims on total asset values, not cash in his checking account.  Because that’s “how the game is played.”  Even people with a handful of rental homes can be “Asset-Rich” while at the same time being “Cash-Poor.”

Turnaround Tuesday Ahead?

While market futures are trying to gin-up a 400 point rally today, there are plenty of side bets to be made on what’s possible later this week.

  • For example, could Joe Biden use the “tax revelations” as a pretext to not “waste my time debating a liar”?  Nasty Nancy has been pre-selling “No debate” in background.
  • Or, what happens when the taxes become a “get Trump” debate question if there’s not a counter-balancing “What about Hunter’s Burisma deal or threatening to have Obama fire someone if a Ukraine guy didn’t go along…?”
  • Skipping the Silly Season episodes, tomorrow the Case-Shiller Housing report will be out.  Call us skeptical, but how far is UP, anyway?  We think BLM and Antifa are already hurting big city real estate.
  • And don’t forget this is “Employment Week.”  We have ADP Wednesday, then Job Cuts Thursday along with weekly filings, and then the Federal data Friday.

Notwithstanding, it’s pretty clear the markets are saying “Biden being up +10 in some polls is not scaring us…”

Wonder Why?

Markets don’t really fear Slow Joe and “Scare-Us”  because business knows that “corporations don’t pay taxes:  People do.  So when [whoever] wins the White House (and it almost doesn’t matter) for next year, any tax increases will be passed on to who?  You and me, Bubba.

All of us can change our names to Ben Dover.  Corporations are – in a sense – only passthroughs for costs and efficiencies.

America has Electile Dysfunction.  Only the crooks will argue that changing the Electoral College of turning D.C. isn’t a state is the “blue pill for all that ails us.”  It’s not.  We don’t have a big National Goal, a thrilling New Technology…and with declining pop-growth, the American economic system is a disaster without a growth story to tell.

Media Playing “The Race Card”

Having overdone the virus hysteria, the “billionaire who isn’t” and what’s actually not a bad year (all things considered) we see the “race game” coming out in unusual ways in headlines.

“White men backing Trump say they can’t be swayed.”  We would sure like to see an equality of coverage of Black and Hispanic men’s voting preferences.   Dividing us to conquer…that’s the game.  Ure’s Union of Solidarity (people4people) is dangerous and threatens the Monetizers and Marxists.

Subtle how American politics is about our tiny differences and not about our common shared values (like invention, exploration, sound money, lower taxes, more investment in future).  Instead – race and gender-based stories?  GMAFB.

We need to be demanding faster internet, more police (not less), and lower taxes for smaller bureaucracies. Could-a, should-a, would-a….

Quest for What Matters

We will be terribly disappointed if one of the key questions in the “debate” tomorrow isn’t about “law and order.”  Especially with headlines line “Los Angeles officer ‘will be ok’ after being injured during shooting inside police station, authorities say” making the rounds.  Biden’s got exposure on this issue.

Cause and effect?  Meanwhile, we can’t help but wonder – with all the demonstrations and stress in Louisville – whether the move of Papa John’s Pizza corporate offices to the Atlanta area might not be telegraphing something.  What have I been telling you?  “Business goes where money flows…”  Stories like “Louisville protesters defy curfew in third night of Breonna Taylor demonstrations” came after the announcement.  But before, there were stories like “Tension rises in Louisville, while violence breaks out in Rochester…”

Corporations are not especially tied to specific communities…and they home shop just like individuals do…  Peaceful neighborhoods and homes matter.

It’s something of an international trend we can see starting up: With “social distancing” and social stresses building in cities, we can make out (in stories like Rising number of Londoners looking for work outside capital, says job site) a general dissatisfaction with cities.

The nextgen of “hipster” housesteaders may be eyeing the exits with good reason.

Golden State Bummers

The lesson from the lack of controlled burns being funded in forestry management is still being driven home: Extreme fire danger likely as record-breaking heat continues in California.

Meantime, financially strapped California is eyeing a huge wealth tax.  With predictable consequences such as “Billionaire ‘Bond King’ Gundlach hints he might leave California to a lower-tax state if local taxes for the wealthy are raised.”  Dude – No state income tax in Texas!

Not that Texas is perfect:  We have a deadly brain-eating amoeba outbreak down at Lake Jackson, Texas in the Houston area (Brazoria County). [Medical thought, though:  How would you differentially diagnose a brain-eating disease as differentiated from a case of California?]

And other things are shaky in California (besides finances!): 3.4 Earthquake Rattles East And South Bay.  Not stirred, we trust?

Off to see if the futures can run up to 400-points... good luck to us all and we will maybe see today if our outlook changes.

Psst!  Want in the “Biden cancels out of the debate” pool, ol’ Zeus the Cat has set up in the office here?  Damn cat’s always looking for action…

Write when you get rich,


76 thoughts on “A Suspect Rally, Leaky Tax Records”

  1. called rigged .. just load shorts here .. whatever you disposed last Monday .. put em back on .. must hold core position and work em over .. this is a sick world full of lies and evil .. keep dignity , discipline and direction .. short everything .. its finished .. tides go up tides go down .. the ebbs and flows

    • “this is a sick world full of lies and evil ..”

      Per chance, which part of this “sick world” do you inhabit? I see a very wonderful world with a very few sick individuals in it. Dealing with those seems to be our problem.

  2. Well as the fella said Americans won’t be happy with their democracy until they have a complete moron in the oval office, and we are getting damn close to that in the one party system.

    We need a simple graduated flat tax system with no deductions to get the tax skimmers, but neither party will as long as they can buy the congress, house, oval office and the high court,by the way are any of those clowns on that court constitutional scholars,I rather doubt it,as Sandra Day O’Conner said on Washington Journal one day “we the high court make no decisions until we confer with the president to see what his wish’s are”,and that just about says it all, as to what type of corruption exist in what we call a government, and just one reason I quit voting I’ll be no part of such a system.!!!

  3. Re. Trump NY Times & taxes.

    I seem to recall not long ago (2 months?) reading that Trump’s real estate fell $600 million in value.

    He could be hurting.

    • George, if I’m not mistaken those tax records were part of a stash of financial records Mary Trump had legal access to, and I believe the legal right to dispose of as she saw fit. This came about due to her legal challenge in the probate of Fred Trump’s estate.
      According to book I have just read. BTW, there is a much more interesting story here, than tax records that has not been reported on.

  4. “the reporting on this not honor the Tax Code, instead of making use of the Tax Code “bad”?”

    My thought is .. the tax code being written for those with huge assets..IT use to bother me.. that someone I knew that had millions.. paid way less in taxes than I did.Look at any giveaway line up.. you see more mercede’s than you do chevys LOL… the tax code is written that it allowes for that.. where for the average wage earner is who the govt. really expects to see the tax’s from I have many friends with a bigger bank ballance than I do that pays pennies on taxes compared to my dollars. so it doesn’t surprise me.. to even see him get a return or an Earned income credit allowance LOL LOL LOL.. I have always wanted to see a more unified tax system but unfortunately it doesn’t look like it will ever happen in my lifetime .. to use it is what it was written for and I hold no ill feelings for DJT for using the tax laws that were written for high income earners just like him.. take the banking scandal of congress.. if I tried to rip the banks off or go around writing bad checks I would go to prison.. instead they got just shy million dollar credit cards to use and forgiveness of the years of banking scandals.. https://www.senate.gov/CRSpubs/9c14ec69-c4e4-4bd8-8953-f73daa1640e4.pdf
    they use the fact that he uses the laws put in place for citizens just like him with huge amounts of property and on the books cash.. even though they do use those same tax laws..
    its a dead horse issue.. and I doubt I will ever live long enough to see the laws changed.. ( that is also why I think he wanted to see the economy rebooted as quick as he did.. the velocity of cash flow was left in full swing and his assets are paper and property assets.. the velocity of cash flow the pendulum swung the other direction..
    the big money earners go out of their way to hide their earnings to.. or move outside the USA so they don’t have to pay for their earnings in the USA.. what was it.. 2.7 trillion of un taxed income being held in offshore untaxed by fortune five hundred companies…..



    Laws and the Tax codes are different for the working wage earner and the billionaire.. and that is also something that they should be fearful of to.. that pendulum swinging.. all they have to do is look at the past and the writings of one adolph to see how it is a design and plan.. all put in place before many of us were born.. Our currency the world currency nothing more than a piece of paper that has been sold to everyone as having value without being bonded to anything at all for that value.. gold silver. my favorite they should make currency bonded to nuts.. nut bucks.. LOL… hey they grabbed my nuts illegally LOL LOL LOL

  5. However Mr Trump may have his $72mm refund revoked and he has a little problem of a $300-$400mm debt coming up in the next couple of years with that paragon of virtue Deutsche Bank …… A bird told me they have him by the short hairs but the statute of limitations is running out hence his desire to prolong the election process til that time and/or forgiveness granted him by a loaded ‘Supreme court you know a dismissal for the good of the country. etc

  6. NYT ya say, knows all about Trumps taxes,,,hummmm, here is what they said in 2016
    he could have avoided paying taxes


    such an unbias informing publication,,we all should totally depend on for accurate information to direct and control the sheeple,,sarcasm on my part

    must of us know ,income tax is ownership of the slave class, collecting for the Feral reserve, a private bank(s),, there was no income tax before the federal Reserve Act. It is going to be very interesting to see what comes of this WAR among the Titans,, they shot the Kennedys in the last great battle,,Trump wants to end the Fed or just take it over, not personally but by the U.S.Treasury,,just an ownership change from private to gov,,where the US Constitution put it in the 1st place.
    As we sit in on this, live action History class,

  7. Timely Dude -Timely Headline..

    IMHO – The Whole F-ing Shooting Match is SUSPECT.

    ..Suspect Presidential Candidate, Suspect ex-President &VP, Suspect Chief Justice, Suspect Speaker of the House, (2) Suspect ex secretary of state..The List goes on, and on – Suspect Precious Metals Markets, Suspect Bankers – no wait They ARE GUILTY ..Jain,Dimon – hell just throw a Rock in the air at a Banking CEO Conference – GUARANTEED U will HIT someone GUILTY.

    That is the MAIN Difference – “they” just Pay a relatively SMALL FINE, and Admit No GUILT.

    Is this GREAT F-ING country or what?

    By the By – Can U feel the CHILLDOWN coming ? WINTER IS COMING – Got Nat. Gaz?

  8. “a general dissatisfaction with cities.”


    take SANFRAN.. the bay area.. beautiful once a glorious place to visit.. now.. take a look at it today.. the class separation.. we will still find the area’s of the old san fran.. but get into the city.. take a look at the working class.. there has always been the poor.. then the working poor but now we outsourced the jobs and the pride of the country.. dumbed up our youth and made an education a life long payment to keep those children from seeing a decent lifestyle..
    what is it.. poverty 117 thousand a year..

    where the rest of the country it is The maximum gross monthly income is 130 percent of the federal poverty level, and the maximum net monthly income is 100 percent of the federal poverty level. the gross monthly income to be eligible for SNAP is $990. a far cry from 117 k
    with the vast majority of the households earning way less it is pretty well established that unless the wealthy are equalizing the pay of the employee’s.. instead the vast majority of businesses are eliminating certain benefits.. all of this causes stress.. one old neighborhood in our local city is now a slum with shootings and constant police action.. that wasn’t even considered twenty years ago.. it was a nice middle class neighborhood.. they are leaving for safety.. yet the area’s of safety are slowly being strangled away.. the vast majority of uneducated will read the stories of the rich and wealthy not having the same expenses of those working in a wage hour position and this causes a rift in the social classes even more.. that is how adolph was able to imprison the wealthy in germany and put them through the gas chambers and slavery.. same scenario.. different times.. different social classes.. leaving the one percent to be launched into outer limits from their ill gotten gains.. you can’t take anymore from those that don’t have it.. so who do you target..I would think those that have it. the lower incomes are already enslaved by them.. but I think that the one percent want to have control of it all and will go to any means necessary to get it….the same scenario just a different time..

    • “that is how adolph was able to imprison the wealthy in germany”

      Do YOU know @ least one (1) to whom it happened? ;-)
      Just asking!!

      • “Do YOU know @ least one (1) to whom it happened? ;-)
        Just asking!!”

        Yes I did boshevic.. I took care of a woman that was in Auschwitz… I took care of a guy that was a guard at Auschwitz.. and I took care of a man that liberated the prisoners at Aushwitz.. the man that liberated the prisoners or was there.. he lived with us for several years.. it was hard for him to talk about it.. but while watching the schindlers list.. he said.. they sure didn’t look like that.. and then the stories came out.. the man that was a guard.. he had been in a prison camp that was located in our area.. his family hated him.. absolutely he died the most miserable death that I couldn’t understand until his obituary came out.. he never talked about it.. the little lady.. loved oreo cookies.. LOL I would bring them in for her to snack on.. she was a hoot and you never went in her room at night.. once in a while she wold talk about her experiences there and the loss..
        and even though there has been cast a shadow of doubt on it happening lately.. I heard first hand accounts of the things that went on…

      • I totally forgot one lol.. of course they never went to the camps.. but they had a harrowing escape and escaped going to the camps and the ghetto. hiding in ditches and culverts gutters being hunted.
        There were times when I would go in to check on her that she would start screaming because she thought I was a nazi..I would have to call her daughter to talk to mom..she told me stories of their escape . She was one of the three kids..a professor at an esteemed college out east. Her father was a very wealthy attorney there..
        And up until a couple tears ago was a dear friend..

        Through the years working in healthcare we have met people from many walks of life. Many of my coworkers didn’t care to know the people we have met. For me listening to their life stories was the highlight of mine…

      • I was a little concerned about the ‘gas chambers.’ Didn’t you hear that there were NO gas chambers. People were not gassed to death. People were deloused. For an expert on adolph, I though you would know by now, that the 6 million is a great big fat lie.

      • “have different concepts about
        “wealthy people” otherwise there is no issue.”

        Its always a business model.. even now we go to war so that someone can gain control of something..and to enslave the people.. Adolph had a hatred for the jewish community for a few reasons.. He used the inequality of the jewish neighborhoods ( the affluent neighborhoods ) to push his agenda to make Germany great again after the Weimar depression by pointing out those inequalities. Similar to our country today.. we turn a blind eye to the corruptive nature of our political leaders because we as the mass of the nations laborers are dependent on them for our daily survival..
        when we need to worry is when they start to use the excuses that our struggles are a reflection of someone else’s gain..
        we already see that when the image points to someone higher up on the scale they make it disappear rather than deal with it. instead the finger pointing goes towards someone that is just below that..
        When their actions get the blessings of the citizens.. then we can worry.. what if so funny about it .. is that it was all avoidable..

      • “Lootb & bolshevic have different concepts about
        “wealthy people” otherwise there is no issue.”

        I personally don’t care what other people have.. we need that social class separation in any modern society..

        History is chock full of examples on how society needs that separation..

    • Hi, George,

      Mr. Looking out of the box relates some interesting life stories. When I was employed at a custom design jewelry store in Atlanta in the mid 1980’s, we had customers who had been in concentration camps; they had numbers tattooed on the inside of their wrists. The store owner, who was a Jewish, told me to treat these persons like royalty, which we all did. How they survived is a testimonial to human nature.

      • AMEN Nancy.. She was awesome couldn’t have weighed fifty pounds soaking wet.. if you went in her room to check on her at night and startled her.. she would smack you with that fifty pounds and you knew you had been smacked.. I would buy her Oreo’s and she would get up and sit around and visit.. some of the stories are hard to imagine that we as humans could lower ourselves to those levels.. sad.. makes me sad..
        I have many stories.. forty years worth taking care of people.. the gentleman living in our spare bedroom right now.. he trained and groomed famous race horses.. LOL.. the fun stories of his pony winning one of the races…
        what always surprised me is most of the floor workers.. were so busy not paying attention to the people as persons.. or acting as if they weren’t even in the room instead they would disassociate themselves from the person and view the person as a job. I kind of get it to though.. that way your not touched by the situation and deal with the illness or trauma. That is one reason I could never work in Ped’s.. it would be to traumatic for me… I in turn loved that part of the job being able to help those that needed that extra hand up.. and then to learn their life’s experiences.. its been a wonderful run.. My wife and I both relish that part of the job.. the one thing I learned is .. You haven’t ever seen it all.. the minute you think you have something comes along and surprises the heck out of you..

  9. About the debate. Trump made a stupid strategic move. By calling Biden out on his mental state, he set an extremely low bar for Biden and what the electorate expects of him. The thing is, Biden isn’t even close to being mentally incapable. He is extremely lucid and knowledgeable. It could be a beat down of historical proportions. Trump will do what Trump does and never answer a question…he will deflect to talking points and non-sensical anecdotes given to him by Stephen Miller, his evil muse.

    Meanwhile, Biden, who understands government, the world we live in and to the policies we abide by will debunk all of the Trump talking points. I know first hand that…He will say the following.
    1. Democrats are NOT after your guns America. They just want to mirror getting a gun license similar to with getting A drivers license.
    2. The Democrats like to talk about climate Change…Biden will talk about Jobs…Clean energy employs 8 times more people than the fossil fuel industry and that will grow exponentially under Biden’s watch. From electric cars to re-structuring our grid system…our old infrastructure is like the typewriter…clean energy is the computer/digital/AI age.
    3. The stock market will not crash under a Biden Presidency. If anything, Biden will seek peace with the GOP. Stabilizing the division amongst the two parties will stabilize the markets. No more wild swings is really what the markets need right now.
    4. Violence and unrest will not increase under Biden. Who is President now? Seems to me the violence in the streets is happening under Trumps watch. Just as many of those violent protestors are raging against Trump as they Are against the injustice…or whatever they call it. Division begets division. Hate begets hate. Can these “protestors really be angry at a new President that wants to bring everyone together? Biden is not a sympathizer to the unnecessary violence. He has made that very clear in his town halls and Zoom calls. I see this all stopping under his watch.
    5. The poor will not move next door to you in your entitled neighborhoods. That’s What Trump wants you to think. Most of the affordable housing that is being proposed is in opportunity zones that surround mass transit. Nice, big McMansions are not near trains and light rail. Trump also wants you to think that All poor people are criminals and drug dealers. Being in real estate, my experience is that those people that seek a better life are the ones seeking housing in opportunity zones. They want nd desire a better opportunity. Good for them and good for this country. My immigrant Sicilian grandparents We’re the at bottom of societies barrel.

    There are more Issues that are going to be discussed, but I have to go to work.

    • Mark Is in his dream world once again. According to him, Biden sounds like a Savior of the USA only he forgets that Biden is 78 years old, has been in his basement for almost the entire primary and hasn’t had one hard or opposition question asked him this entire time! (not that Chris Wallace will be any better).

      He also wants us to think that the riots in each of the Democrat leadership cities aren’t extortion for the USA to see what will happen if they don’t do everything they want; Elect Kamala Harris as president. Sleepy, Dementia, pre-Alzheimer’s Joe will bow out within the first 6 months. That has always been the plan. Remember Harris is left of Bernie in her voting in the Senate.

      Utopia for the left is the new green deal. All the jobs it will create and all the wonderful things for the workers it will provide, except that without a viable replacement for fossil fuel, the economy of our country will be tanked even more than we have seen with COVID. His ignorance of the many uses and needs for fossil fuel is and stark, as OAC, Bernie, and Biden combined.

      Mark is fun to have around for a laugh once in a while but, then when you see things like the above you realize how scary it is that there are people like him, that are naive and that blatantly ignorant. That is why people like me have the guns we have, to protect us from the likes of people like him; thinking they can take over the country, take away our rights. (“we just want a license like to drive a car”…BS, we all know that’s to have an itemized list of where and who owns the guns, they are coming for).

      The bar for “BitMe” has been lowered since the moron started his campaign. Trump had nothing to do with that. Is Biden an idiot? Of course, he is. Obama had to hide him most of the last 4 years of his trm because of the stupid things he says. will he do fine in a debate, even our President said he would. Does it mean he has the mental acuity to run this country?


    • DEMENTIA – Is defined as “the Loss of Cognitive functioning”

      Observe the mans face whenever he is in public, very rare that he ever gets out in public. The “signs” are there for those with eyes to see – CLEARLY.

      Epic meltdown for all to witness on tap -if that arrogant idiot ever makes it to the Debate podium, let alone Election Day.

      Biden will NOT make it the Election – He is shot.

      U R literally beating a “dead horse” !

      • Warning flag – we take your phrase “He is…[word] to mean tired, over the hill, useless…” just to make it clear this site does not condone any illegal behavior!

      • I have personally seen dementia close up – one is ex-gf…really sad…would get angry and hit (sometimes me)and throw things. She calls me sometimes from the home but i have to do the talking since she has few words.

        Biden is pure elder abuse. I blame Jill.

        We shall see how the debates go. I would dearly love an evenly matched but, but oh well.

    • “he will deflect to talking points ”

      Don’t they all!

      Green jobs … GMAFB… how many millions of possible corruptive dealings was there an abuse of power in covering up on the issues of the business dealings by the son of JB and him even bragging that he had given ultimatums.. who do you trust.. I definitely don’t trust JB I do trust DJT more even with all his faults. No one has committed suicide because they talked against him or were asked to testify they maybe lost their jobs but they are alive and working elsewhere.
      Theres so much corruption in the beltway it’s really hard to distinguish the honest from the dishonest.
      Serious issues seem to vanish and become forgotten whenever it deals with the politically powerful and the absolute wealthy..






      I personally don’t trust anyone in office at this point.. to many issues that are overlooked..to many misdirected to other things.
      With so much corruption in DC its scarey.

      • The problem with “green energy” is the efficiency isn’t there.

        “Green energy” can’t compete with petro-energy on a cost, or a space basis.

        BP is the largest provider of solar panels and PV technology in Ureope. Their losses are cushioned by subsidies, and written off their advertising budget.

        The problem with “green jobs” is people don’t work for free. Their pay has to come from somewhere. Producing a product for which production cost is greater than market value is not a sustainable business model.

        The “Market” dictates that when “petro” cost exceeds “green” cost, production will shift to “green technology,” not before.

        If there weren’t governmental juggling of the market via “rebates & incentives,” there’d be virtually no market.

        At this point in time, the only way to establish a “green new deal” would be to outlaw petrofuels, which would also eliminate the raw materials from which solar panels and windmills are made.

        I invested a considerable amount of time and energy in the 1970s and early ’80s, trying to build a viable turbine-driven, solar-hydrogen hybrid car… This ain’t my first rodeo.

      • “The problem with “green energy” is the efficiency isn’t there.”

        I have issues seeing green energy on a large scale and I support the use of all methods of production of power.. the cost of the infrastructure changes alone would be a nightmare for large scale wind and solar.. and the way they plan to do it doesn’t make any sense to me.. I do love small scale.. I was amazed at how fast my system paid for itself.( I to bought the BS fed everyone). I figured maybe ten years and even with all the extra and paying the higher inflated cost at the time it paid for itself in five years..
        If the power companies would embrace changes and offer price stabilization to those willing to invest in a home system for lets say the ten year period.. if they allowed the power company to have the rights to any excess.. they would be amazed at how much they could possibly generate.
        from my standpoint.. for the price of two of the big wind turbines there could be a ten kw solar power system put on every home in our state.. giving the power company a potential of what is it 7600 mw per hour plus.. our system produces right at 37 kw per day.. give or take.. when I had a meter that went backwards I use to get the biggest thrill out of going out to watch it flip back ten kw.. LOL.. people put them in with the thought of making big money.. I disagree with that view to.. we should be putting them in to assist the utility companies with the increased demands without being paid back for any excess.. smaller solar farms.. (I love solar towers.. I think it is the way.. put in a small tower every forty miles wherever they have a boost station) and embrace the technology.. you would still need the larger wind turbines.. but seriously I think they are a waste of money and resources..
        My personal view of the grid is that of a tree.. the tree depends on its roots to draw water to keep the tree alive.. it flows up the trunk and out the branches to the leaves.. you need that.. but most people don’t realize is the leaves generate an electrical charge.. to help the roots and the branches to work efficiently.. the crown of the tree line will always give you the best solar panel angle for your area.. we should be the tree… unfortunately this idea will never fly.. I am not sure why for sure but my guess is that they see it as a loss of control.. so they will spend millions doing just what they do in the box.. they will put huge solar farms and then make huge infrastructure changes that amplifies the arguments of efficiency. sort of like putting heavy weights on the ankles of a marathon runner while he is in a big race..
        I had a scientist friend that use to razz me about solar.. even though they put solar panels on satellites and equipment going into space.. then there was a huge storm on the east coast.. it took out the grid.. after a couple of weeks.. he called me to apologize saying that they were cooking in their home.. after he retired he wanted to put in solar.. living in the sw he discovered even in the desert his system paid for itself not in five years but in six months.. they kept the windows cracked for fresh air in the house.. even though the air was running non stop.. it was the best thing he had ever done..
        while others would lease their systems.. ( they are real idiots down there to get suckered into a deal like that LOL)

    • Mark,

      Why do you think clean energy has more employed than coal? Do you think it could be related to .gov’s constant intervention/incentives/directives?

      Can’t wait to see just how lucid Mr. Biden is at the debate, you clearly haven’t seen him attempt to respond off teleprompter.

      Best of Luck!

    • “The stock market will not crash under a Biden Presidency. If anything, Biden will seek peace with the GOP. Stabilizing the division amongst the two parties will stabilize the markets. ”

      Now this is a stupid question I know.. but how can stabilizing the division between two parties stabilize a checkbook that has so many bad checks written on it that there isn’t anyway to recover from the financial death spiral.. the crash has nothing to do with whether the left or right will actually speak to one another all anyone has to do is go out and talk to those making an hourly wage.. waddle your butt down to the break room for coffee sometime and listen to the little folks making an hourly wage.. guaranteed it won’t take long to get the true vision of what is going on…. or they even stop spending billions to try and overthrow a president.. the market has to do with an income.. you get an income you spend from that income.. if you over extend your spending your going to suffer.. we have been over extending our spending.. big time..
      do you charge a point of interest or continue to give free money away.. if your giving free money away and still spending you just deepened the crevasse you are trying not to fall into.. stop spending you expedite that same fall.. we are damned if we do and damned if we don’t at this point.. even if they started to tax the untaxed trillions they can’t recover enough capital to stop this decline.. of course I am a bottom feeder so they might have some moves that I have never heard of.. you just can’t paper over it anymore its there.. deep and ugly. I am lucky in that I don’t have very far to fall during the decent..

    • The entire corrupt Biden family has been enriched at taxpayers’ expense…where’s Hunter?
      Trump’s leadership has accomplished so much more for the USA in 47 days than old Biden
      has in 47 years.

      • After a hard day’s work, Which I started at 5am this morning, it is so sad to see that the rest of you on George’s site are stuck in a coma of delusion. I accomplished a hell of a lot today. What did you all do except spew garbage On George’s great site. Healthier deserves better readers than this.

        I can’t for the life of me understand why you insist that Biden is the crook, when there are vaults of data points, thousands of lawsuits, dozens of books, testimony by all of his ex cabinet members that Trump himself hired, that all think Trump is a mentally challenged danger to this country. Wake up dolts!

        See you at the debates!

      • Mark- All of you are spend too much time obsessing over partisan gang activities. The D’s are supporting revolution in the streets, and your non-Trump R’s are exploiting the situation. That isn’t how we settle political grievances in this country.

      • “After a hard day’s work, Which I started at 5am this morning, ”

        You must be coming down with something to sleep in so late..

        When I burn daylight like that I am usually coming down with a cold or something.. hope you get to feeling better..

    • Wow. That was quite delusional. Seriously I’m not a US citizen, but like many out here in outremer land I take a keen interest in what is what in the empire.
      Biden is a machine politician of the old school type. His record speaks to this. And if you consider him to be intelligent in any real sense then I can only assume you are another product of your country’s broken education system.

    • From my latest electric bill from the local PUD (PUBLIC Utility District) a statement from one of the commissioners: As most of us are aware, a recent heat wave impacted California, Oregon and Washington. A result of the heat wave was that millions of Californians were without electrical power, because of rolling blackouts, during certain hours of the evening, primarily because utilities didn’t have the resources to meet the huge demand from their customers who were trying to stay cool in the heat. The cause: “the peak demand was steady during the late hours,” said the spokesperson for CASIO, “and we had thousands of megawatts of solar reducing their output as the sun set.” Solar energy couldn’t be relied on to meet demands.
      According to the California Energy Commission, the state gets 32% of its energy from renewable resources (solar, wind, small hydro systems, geothermal and biomass generations.) That represents a major investment in renewable energy resources. Investing in renewable energy is a smart idea, but not when you do it at the expense of a reliable operating system. As I read about the hardships impacting the residents of California, I wondered if that could ever happen in Washington State. My answer was “if we increase our reliance on resource that can’t always be counted on AND remove reliable hydroelectric generation, yes it could”

      • just had another power outage IN THE MOHAVE! now this can be life threatening if it is 122 in the shade! Much more and I will will move to TX which has its own power grid and probably not adverse to Gen. 4 nuclear.

    • Mark, Owning firearms is a right, not a privilege!

      It’s constitutionally guaranteed, as in “SHALL NOT BE INFRINGED”!

      A license is the means for converting a right into a privilege.

  10. Wealth begets influence, influence begets more wealth, that in turn begets even more wealth etc., etc…… Our CONgress is composed mostly if not entirely of millionaires, guess who their law making favors. Joe Lunchbucket will always be stuck with “trickle down”.

  11. “corporations don’t pay taxes: People do. ”

    We are looted by people who hide behind cleverly worded pieces of paper.

  12. I would love to find a group of tax preparation professionals (CPAs, lawyers, etc) with high net worth clients get together to discuss what is being raised as an issue here. The main difference between asset intensive streams of income and streams of income based on services is the timing of recognition of income or losses for tax purposes. If I am a business owner and need to buy tangible stuff to generate income, I get to depreciate the stuff on an accelerated basis for tax purposes. That front loaded expense is often offset later when the asset is sold and the gain is treated as ordinary income subject to your highest marginal tax rate to the extent you took depreciation expense. Then the remainder of the gain is taxed at other – usually lower – rates. If you “exchange” real estate, you can defer that gain recognition to the date the replacement property is sold. You used to be able to do this with other business assets, but the Trump tax bill eliminated that treatment. As a matter of fact, having several high net worth clients with rental real estate, I noticed there are several provisions of the Trump tax bill that limit previously favorable treatment for real estate activities or disallow some of the favorable business treatments added through the bill. Maybe a couple of favorable items were added. But all in all, I thought the Trump tax bill would be a negative for Trump’s tax situation as it relates to real estate activities. You don’t see a politician work to put in place laws unfavorable to them and their sycophants. But then Trump isn’t a politician in my view.

  13. Time for a digital detox. getting off the internet for a while except streaming music. Cleanse the mind of artificial electronic serotonin stimulants.

    See ya around. I heading to the gym anf then im going griz hunting.

    Later dudes.

    • Andy why for God’s sake “going griz hunting?” Why are God’s s creation bothering YOU? Somethings don’t make sense to me — and this certainly is one of them. ‘-((.

  14. Oh and George, if you lock yourself out of the truck. Talk calmly to the lock.

    Rememeber: communication is Key.

    Shit the pun police! Time to skeeeyyydadle!

  15. Wealth taxes cause people to flee. Case in point the Berlin Wall. So many East Germans fled for West Germany that the government built a wall to keep them in.

    The reality is that these taxes represent the last gasp of a fading era of growth. When you look at those regions of North America that boomed during and after WW2 they are all reaching the limits to growth.

    A very large part of the reason for their success was a massive infrastructure build out during the 1933 – 1990 era. This infrastructure provided the foundation for economic growth. Those infrastructure systems are now operating at full capacity. The only way future growth can be achieved is to invest in building out massive new water, sewage, electric and freeway infrastructure capable of supporting new cities and subdivisions.

    Governments over the last forty years put in place legal structures that strangle growth and permitting systems and litigation guarantees that ensure that it is virtually impossible to build any new infrastructure.

    As an historic example, the city of Los Angeles bought up water rights in the early 20th century. That water was then piped in an aqueduct to Los Angeles and allowed for the growth of the city. No water, no growth.

    Wherever you live in the USA or Canada: Look at the existing infrastructure, is it sufficient for growth? If not just try to build an aqueduct today. Try to build a desalination plant today. Try to build a hydro dam or a sewage treatment plant or a freeway. Try to build a natural gas power plant or a pipeline to it.

    What if your energy source is coal? Then you will have to build a coal gasification plant at the mine site because there is no scenario where any Government or Court will allow a coal plant to be built anywhere.

    In many areas legislation is now in place that imposes a litigation guarantee on any new project. Hence growth will stop. People will leave. But as they do they will take their new ideas and new industries with them. As the best and brightest leave for opportunity elsewhere the system will stagnate requiring higher taxes to maintain it which will accelerate the emigration to regions of opportunity.

    Right now Asia is the region of opportunity. China with its belt and road is the only major power building infrastructure on a massive global scale. Russia has built its new infrastructure to serve the Chinese market. An attempt to build a pipeline from Russia to Germany is being met with very tough opposition from the USA.

    In other words decline is the future. Not growth.

  16. Yo Radioman –

    Sure is a funny looking 5 Down today, pardner, must be that other count..

    Count DeMoanay needs to sharpen his pencil a lil bit me thinks.

    Seems like the Count has been Cheating off of Ure Chief Statistician at the G.U School of Statistical Fraud, Dean of Sample Corruption.

    Perhaps Ure been wearing that Mouth Diaper too looong and the O2 levels are running low –

    like when running O2 mask- races on Boomers – next hookup could be several hundred feet down the next passageway..rut ruh.

    No Worries – If Ure short – Ure SHORT Profits !

    Delta Neutral is the place BCN likes to be..

    THIRTY THOU ON THE DOW! – “book em dano”

    Dont look now Neo-Luddites – but Bicoins are building up pressure, building up energy stores, coiling as it were – ready to strike out at $20k soonly.

    “to a great mind”, like BCN’s, “nothing is little,’remarked holmes, sententiously”

    NO BTC 4 U ! – he said, abounding in aphorisms or maxims.

    aphorism = a concise statement of a principle.

  17. Actually, the vast majority of “tax breaks for the wealthy” are available to all. ‘Thing is, in nearly 20 years of tax preparation, I would always run “itemized deductions” against the “standard deduction” before giving a customer a “finalized return,” and for employees (as opposed for employers) I never once found an employee whose itemized deductions exceeded their standard deduction — not even close, EVER!

    The tax code doesn’t favor “the wealthy” out of “preference” (one law for thee, another for me…) it favors them by establishing a floating, but considerably above average income point at which p/l, gambling, business, t&e, depreciation, etc., become viable as itemized deductions…

    • Itemized deductions, regardless of merit, invite an audit. The cost of any audit will most likely far exceed the value of the deduction. IMHO, I’d much rather take a standard deduction and leave very little remaining in question. Very few of us have the knowledge and body language skills to win.

      NEVER meet with the IRS in person unless you’re highly experienced(positively) with bureaucracy. It’s usually a waste of time and there will be questions that you may not want to answer. You might not even know the answer. Always send either a lawyer or an accountant depending on the situation. The thousands you spend may save you many times more.

      • I was tagged once for an audit. It was essentially a request for more information. I supplied the information (and then some), the audit was dropped before I ever got to the face-to-face.

        DON’T fight the IRS (and don’t p!ss them off!)

        BTW, I quit doing taxes for others, for fun and profit, in 2004. Quicken/Quickbooks was becoming popular, and the tax code had attained such a level of convoluted confusion that it became not worth it for me to sign under a client’s name any more…

      • “DON’T fight the IRS (and don’t p!ss them off!”

        Amen Ray…. I have a friend that was called in and they upset him on a minor mistake he had made.. he got mad and said.. LOL LOL LOL “YOU CAN JUST SUCK WALLY” LOL LOL LOL

        he came back from his meeting white as a ghost.. he said never piss off the IRS they were going to auction off his house and personal stuff.. the VA uses them as their collection agent.. we didn’t have an income for a year.. my costs at the VA were about a grand a month.. they just went to my bank asked for the grand a month and the bank gave it to them and I paid the penalties associated with not having enough funds.. the bank said the penalties were easier to deal with than to tell the IRS.. nope not enough money in the account..

    • ” I never once found an employee whose itemized deductions exceeded their standard deduction — not even close, EVER!”

      for an hourly wage employee.. I don’t think they ever could…Personally I would rather pay in a little extra than take a deduction that could possibly be questioned..I don’t have the dollars to fight it

    • I never once found an employee whose itemized deductions exceeded their standard deduction — not even close, EVER!

      Really? Before Trump changed things, it was fairly easy for a married couple to exceed the standard deduction (12k) using mortgage interest and charitable contributions to save money by itemizing. Now though, the standard deduction has almost doubled (24k) making it much harder to come out ahead.

      • OBX; exactly. I always itemized and came out ahead, single, or married with income under $130k and then really under $45k, always worked out in our favor. Now, even with paying high property taxes twice in one year, and interest, I can’t do it because it won’t reach $24k. We came out slightly ahead with the new tax law only because the $24k standard deduction (which includes the other one), is in total about $1800 more than doing it separately. So, in other words, some dollars ahead, but when this law expires, I plan on being mortgage free so it doesn’t matter what my deductions are or are not, and reduce property taxes as low as possible. After that, for the average person, what is there to itemize and deduct? Healthcare costs? Possibly.

    • When my kids were young and there were lots of expenses, I did the household portion of our income taxes, itemizing every deduction I could possibly scrounge up (husband’s law firm did the business portion). The itemized deductions amounted to more than the standard deduction. I had saved every receipt that included a state sales tax, and the sales tax deduction probably tipped the scales in favor of itemizing. The accountant who did the final preparation was amazed!

  18. the deep staters are SCARED shitless, this resolution is nothing short of ridiculous
    but the M&M bros will think it is the best thing since they found the cheese that slid off their plate


    it’s like they walk past the elephant in the room and accuse the mouse of leaving a 300 lb pile of shit on the floor, they call out 6 nut jobs and do their best to label them Qanon as thousands of BLM/antifa burn riot loot and terrorize citizens in the democrat ran cities,,,,,guilty people are always scared when the heat is on,,,past the popcor_n,,the show must go on,,need some circus music here

    • It’s an insult to clear thinking. It considers right wing thinking, aka “conspiracy theories”. as a cause for left wing violence and rioting. In short, it demonizes thinking out of the box as equivalent to left wing acts of insurrection.

      It’s clever in a dark kind of way and has no business even being raised as an issue in the House. The acts of violence are overtly illegal. Choosing to believe “conspiracy theories” is protected thought under the Constitution. BTW, the term “conspiracy theory” was coined and promoted by the CIA and other agencies as a means to discredit such thoughts.

  19. very very good thought . yep . George nails it again ..”can the potass pardon himself ?” love mind stimulus !! that’s why urban survival is the only place I visit on the global gulag .. good question, just shows how sexed this world is .. god Amerika .

  20. Short sellers get too far out in front of the market and the frantic bear market rally follows. With record short interest reported last week, I would expect some margin calls might be keeping things roaring for a while.

  21. Here’s a read for the morning constitutional.

    Originalism and Stare Decisis

    Amy Coney Barrett, Notre Dame Law School


    The question whether stare decisis is compatible with originalism has occupied both originalists and their critics. In this Essay, I explore what light Justice Scalia’s approach to precedent casts on that question. I argue that while he did treat stare decisis as a pragmatic exception to originalism, that exception was not nearly so gaping as his “fainthearted” quip suggests. In fact, a survey of his opinions regarding precedent suggests new lines of inquiry for originalists grappling with the role of stare decisis in constitutional adjudication.


  22. Someone said these huge predictions for all trash . Mr nazi I think. It’s so gone I haves bottle recyclers tipping me gold to the moon . Really ? What next ? Mark Twain . Be great full for the fools

  23. horror stories coming out in gulag Australia of banks treatment of customers .. 2 many shorts eh ? not enough .. let it all go to hell .. shorts ahead of themselves ? not enough on .. a glacier will slide

  24. FHA Mortgage Delinquencies Hit Record 17.4%

    We’re doing just great!

    Hmmm. A triple top in SPX at 3375 near a trendline and the debates tonight.

    If I had to guess, I’d say this is setting up for a better than expected performance by Biden tonight, aka, 2016 WikiLeaks style where he has an “edge” thanks to media and targeted preparation. Trump will have to divert subjects to those not known in advance.

    • Meh,
      The damn thing stopped at equal lengths down. It’s really trying to screw with me and test patience the last few days, but that’s fine… I’ll play whatever direction it wants to go, and be present for nearly every tick, since this sucker really likes to catch one off guard. 3400 and it’s anyone’s guess how this debate goes.

    • Remember when Hilliary had a lighted dashboard on her debate podium? It helped her with the debate in real time? Remember that Hillary was wearing an ear piece so she could be coached in real time? Remember when that African American woman admitted to giving her the debate questions ahead of time? Remember when that AA woman then cried racism when she was outed and fired from CNN? Then remember how she got offered a great gig on FOX, but was a constant guest on PBS? Oh, yeah, her name just came to me, Donna Brazile.

      Who will be Biden’s Donna Brazile for this debate?

      I wonder if the opening question from Chris Wallace to Mr. Biden will be: “Mr. Biden, your reputation, and it is backed up by multiple videos, is such that you like to kiss, squeeze, nuzzle, and grab women and girls by their hair, neck, boobs, and arms, as well as Tara Reid has come out saying you also like to grab them by the pussy, do you have anything to say to those allegations?” And in order to soften the blow. “Is it true that you like women?”

      I mean, “Come On, Man.”

      I am popping my organic popcorn on the stove top with no salt Irish buttah, and I am sitting my bootsie down so that I can hear this HOOT show which is gonna cause memes and laughs AROUND THE WORLD. I am hoping that Trump will demonstrate his uncanny ability for the one liners, and that Biden will show those shiny shark teeth!

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