heropretend

Members
  • Content count

    293
  • Joined

  • Last visited

Community Reputation

3 Neutral

About heropretend

  • Rank
    Footballguy

Contact Methods

  • ICQ
    0
  1. Pretty sound advice again, but I feel some of your posts seem like you are suggesting that everyone needs to go ALL IN on energy stocks. Sure you can average down and look good in 10 years, but you're managing millions. Individual investors can't afford to average down stocks until they're long term investments without going significantly overweight. If the energy market goes lower or just stays low for longer than anyone anticipates than the guy with 10k in a rothira buys XOM and is just a few bad months before they sell XOM at a 30% haircut to buy up some USO cause they didn't like that the oil price increases didn't correlate with XOM share price. And then they find this thread.
  2. You must be hanging around some serious fans. I only have a handful of friends with the watch and they love Apple. Most people that buy iPhones do so because they are a good, easy-to-use product that they are familiar with, not because they are running a status ladder against other Apple users. If the watch does well it's going to be for the same reasons.Watches can already be luxury status symbols. If that's important to you, you aren't buying an Apple Watch. iPhones are priced around $650 and a great upper end budget Moto G 3rd gen is $220. I don't want to talk contracts or anything and upgrade cycles. Merely pointing out, there is a huge difference in price without a huge difference in useability. The Apple Watch is just starting to gain traction and you do have a handful of friends who bought it. I do too. I don't see them flashing it as a status symbol, but at the same time I haven't heard a great reason to buy one from people using it. That leads me to believe they are buying it only to differentiate their IPhone/iSTATUS from their parents' or colleagues' iPhoniness. The Apple Watch is useless to me and you and yet quarterly sales of "other" jumped $1.6 billion. Those aren't apple tv and headphone sales. The Galaxy S5 was priced about the same as the 6 as I recall. Apple phones carry a premium, but it's not $400.The "other" category exists so they can mask sales of individual products. That doesn't mean that sales were bad, but if they were good, we would have heard about it elsewhere I suspect. If you have the disposable income and like Apple products I don't see why you wouldn't try it out. They are kind of fun even if not overly useful. They will improve it I'm sure, but I think it really needs to differentiate itself beyond an extension of the phone to get much traction. The Moto G 3rd gen is really $220 unlocked and new. The Nexus 5x is at $300 new right now. These phones work on all carriers and the price difference is $470 and $390 while the average iphone price last quarter was $690. Those are good but not great phones that work well for the majority of people at a fraction of the cost. People don't buy those phones because it's not an iPhone. It's like a cast iron pot, people buy a le creuset over a lodge logic or kirkland. These are status symbols. The iPhone is unique is because it's a status symbol that everyone thinks is better AND everyone owns. The other category grew $1.6 billion with no other significant product rebooted. It's pretty safe to assume the headphone, iPod and apple tv markets aren't responsible for the $1.6 billion growth. How can you really explain $1.6 billion increase in "other" if you're not tying it to the watch?
  3. You must be hanging around some serious fans. I only have a handful of friends with the watch and they love Apple. Most people that buy iPhones do so because they are a good, easy-to-use product that they are familiar with, not because they are running a status ladder against other Apple users. If the watch does well it's going to be for the same reasons.Watches can already be luxury status symbols. If that's important to you, you aren't buying an Apple Watch. iPhones are priced around $650 and a great upper end budget Moto G 3rd gen is $220. I don't want to talk contracts or anything and upgrade cycles. Merely pointing out, there is a huge difference in price without a huge difference in useability. The Apple Watch is just starting to gain traction and you do have a handful of friends who bought it. I do too. I don't see them flashing it as a status symbol, but at the same time I haven't heard a great reason to buy one from people using it. That leads me to believe they are buying it only to differentiate their IPhone/iSTATUS from their parents' or colleagues' iPhoniness. The Apple Watch is useless to me and you and yet quarterly sales of "other" jumped $1.6 billion. Those aren't apple tv and headphone sales.
  4. There are tons of reasons oil can stay low for longer and break Todem. Fracking can stop and start production on a dime. There doesn't seem to be any worry of supply not meeting demand. Fusion and alternative technology is advancing. Hydrogen, fuel cell, nuclear, solar, wind etc. Global environment concerns. Look at some coal charts, coal divesting, etc. The oil industry might be the next target of big government. Oil reliant countries are generally unstable and don't work well together. What country cuts first? Self driving cars, different modes of transportation, etc will use less non-renewables China is slowing, Europe in recession. US projects slow growth into 2035. I'm not predicting the end of oil, but: Energy demand is growing slowly and looks to continue slowing. Energy supply is growing due to: 1. inability of companies/countries to curb production as they hope to service their debts. 2. efficiency of use and alternatives
  5. I'm starting to see the Apple Watch as a means of iPhone users signaling their status over other iPhone users. Wherever we go with wearables or VR or cars, with Apple's perception as a luxury brand and best in class design, Apple is going to dominate the market. If everyone owns an iPhone then its no longer an iPhone cycle, but an Apple Watch or Apple glasses or Apple Car cycle that then upgrades into perpetuity. If everything is an extension of the iPhone then Apple's long term potential market to takeover is every luxury/status symbol.
  6. High gas prices, blame Obama Low gas prices, blame Obama
  7. used to buy FAZ and SKF back in the day. Lost more than my current net worth. Hope everyone watching this thread sees how destructive leveraged etfs are.
  8. Since no one has any answers: 1. Set the lowest tax rate to 0% on the first $15,000. Poors will spend it all immediately anyway. 2. Shift welfare spending to a universal basic income. But only do this after we see how it goes in Denmark. 3. Transparent and competitive market pricing on all health coverage open across states. We should know what's in a medical bill. Can't go universal health care cause every hypochondriac will abuse the system. 4. Have a 25% income tax rate on all income after 15,000. 5. 75% estate tax above $2 million. The current system leads to overcharging olds in the last years of their lives on health care and sucks capital out of the economy. Force horders of assets to pass along money to their younger heirs and charities while they are alive....its just dumb to leave the money in the pockets of the olds while they die. 6. Don't tax financial transactions because jesus, liquidity is important. No extra taxes on the rich.
  9. Let's start by understanding that a large percentage of the poor in this country had a chance to be not poor. 14.8 percent of the country is in poverty...and a decent percentage of that 14.8 percent didn't have to be...let's say half. That means 92% of the country had a very good chance at the American Middle Class, which oh by the way, is better off than 99% of the world's population. Just because you were born in this country, doesn't mean you deserve or are entitled to a damn thing. Imagine a world without poors. Everyone works hard and saves and invests enough to own a house, car, and retire by 50. There are less workers, more retired people, and more money is held in low risk bonds and cds. No one spends enough of their income for economic growth. How does this world grow? Why does anyone invest? I don't like the idea of welfare either. I don't like the wealth gap. But it works. Welfare and entitlements solve the problem of distribution of goods and services. Unfortunately the hard working middle class support the system. The real problem isn't your idea of fairness and entitlement, but how do we make the world safer, better and more livable and how do we take care of our inner circle. Why you mad bro? The ability of the world to produce lazy entitled poors who spend everything is propping up your stock prices and lowering the cost of production of goods and services. The system makes your life better, keeps your family safe, and lifts the poors out of extreme poverty and starvation. I think you absolutely can't have a suffering class who are willing to behead you for a bowl of rice and beans. I think you absolutely need people on welfare who save 0% and consume 100%. Who said life is fair??? Jesus I guess. Who gets to retire by 50? Some of us lucky working stiffs.
  10. Lower oil prices (due to excess supply, not decreased demand) are good for the overall economy because the cost of doing business is lower. There's really no debating this. A lot of economists like Krugman have been saying that low oil prices are good for the overall economy is but a crashing oil industry and high yield debt can cause destabilization, political worries, etc and hurt the overall outlook. So low and lower oil and gas is good, but 99 cent store oil and gas is not good.
  11. I'd assume someone making over $400,000 is already maxing their SEP. Then I would do a lot of business travel. Take clients out. If you have kids, hire them and set up Roth IRA's for them, buy new office equipment and furniture. And the ultimate crazy one - give your employees a big bonus. Everything you just named is accounted for in normal day to day business expenses, it's not some loophole or accounting trick to decrease income. If my employee's laptop breaks down, I'm paying to have it fixed or buying them a new one. It's expense, just like cost of goods sold, wages, advertising, necessary business travel, desks as needed for employees, etc. It's not some tax plan to reduce income. The statement you made was that as a CPA I should know there were "many ways" to reduce taxable income for a small business, inferring by some accounting practice or loophole small businesses could gain an advantage. There simply isn't anything like that. I realize it fits an agenda to represent it as so, but it isn't the case. It's just terrible that someone believes running a small business is some tax haven and is telling a CPA that they're doing it wrong if they're not Warren Buffet yet. Buying that Eames lounger for $5k means cutting into your margin or taking on $5k more work and deducting what, 40%? So I want to spend $3k on a chair and lower margins further so I can say I paid less taxes???
  12. Do all kids have an equal opp at a good education? What if mom n dad are drug addicts in one form or another, is it the kids fault? Should we just make blanket statements about everyone's soul or just what works and makes us feel better about ourselves? Trip, I like your posts because a lot of folks feel the same as you do. I waffle some but I feel like the working poor suffer as much as anyone. How can a 14 year old know what is best for them? A lot of folks go out and find themselves in their 20s and then go to school. Trip, ,ost of us with educations did work hard, but we also had more chances. I agree that everyone has a chance, but for poors their chance starts early and ends early. I'm willing to bet that everyone on these forums had by historical levels some ridiculously supportive backgrounds with personal computers, no teenage preggers, internet access, ability to take out a student loan and receive some assistance from parents when buying their first car, house, degree, etc.
  13. How do you qualify "living"?Like I said...housing, food, and health care. What kind/quality/quantity of housing, food, and health care, and for how many people? What else should it "cover"? What exactly is over the top? Should a person working full-time be homeless? Be hungry? Die because they can't afford health care? I'm trying to figure out what you guys are thinking. My idea is the very basics - a small one bedroom apartment, enough money to buy food at a grocery store and not go hungry, and health care when they need it. If you aren't willing to pay someone enough so they can afford to live then you shouldn't have employees. More households should be shared. That's how it's always been done. We're moving towards 30% single households and 70% 2 person households. This idea that we all deserve our own place and all the poor are starving is baloney. Nobody starves in the US, most of the homeless are homeless because of mental illness.
  14. I think you're seriously misunderstanding what has been said. Someone suggested we limit net worth to $1 billion and tax and redistribute everything above. I responded that would cut all incentive for billionaires to earn another dollar. Duh. You're the one with the weird rhetoric. Billionaires with lower tax rates aren't even working for their money so of course they'll be motivated and have incentive at a 50% income tax. I may be wrong, but I think if you tax anything above 200k above 50% then we're going to stop working as hard for that 201k. Put it another way, you and I, we will always need every dollar we make. We will not die with billions in the bank. We will die happily broke with a bit of inheritance or donations leftover. I have much much less incentive to make more $$$$ after being taxed 50%. A billionaire should pay a bit more than me obviously. Their money will always be working for them. Extra income above the hypothetical 50% tax rate will go to their LEGACY. They're motivated by their ego.
  15. This is interesting. At what percent tax rate do you think people lose all incentive to produce any more? At what percent do they begin to lose incentive?Follow up question, do you think you pay a higher or lower percentage of your income in taxes than billionaires do? Have you lost all incentive to work? I don't know. My guess is 50 percent. But let's change the word here from incentive to motivation. I'll be back later tonight, but what do you think? If you asked me, if I was a billionaire with my current situation and lifestyle if I'd lose all incentive to work if every dollar over a billion was taxed or transferred than the answer is yes, eff all work over $1 billion. I think obviously you lose all incentive if every dollar over a billion is taken away. Motivation wise, this depends too much on lifestyle and who or what you relate to. No one here is a billionaire after all.