All Forum Posts by: John Clark

From your thread posts you think that you'll clear $80k. Long term capital gains tax is 15 percent, which in your case is $12k. That gives you about $68k in cash at the end of the day. You are not going to find a lower tax rate than 15 percent, and you risk opportunity costs if you tie up money in opportunity zones and what not.

Why not just pay the taxes and have about $65k in dry powder to use for a duplex after you've lived in your area and searched for places for a year?

Like others have said, the tax system is favorable for selling long term assets. Nobody likes taxes. Shooting yourself in the foot because you want to avoid them is foolhardy, though. Your opportunities are in flux. That means liquidity is everything.

" My point is this; Governments taxing it's populace to build roads is way more inefficient then the folks keeping their own money and building their own damn roads.

Sorry if this truth is inconvenient to your theory."

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Gary, like I said, you're in denial. Let me use your own example: A substantial proportion of roads in America in the 18th and 19th centuries were privately constructed and operated toll roads. There are very few today (there's a highway in Texas, and the Pennsylvania and Maine turnpikes started out as private, dunno if they still are). Why? Governments could do a better job.

And I notice you've run right away from my example of Central Park in New York City.

So sing and dance all you want, but the fact that governments waste money has nothing to do with the governments' right to look after health, safety, and welfare. Your singing and dancing doesn't alter the fact that your wealth (and mine) was built on a foundation laid by the government.

"If you want to shout nasty names at everyone on this thread who disagree's with you, then might I suggest one thing that took me a while to learn in my personal life... "
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I'm not shouting nasty names, Anthony, I'm telling you to stop trying to wrap yourself in the flag by comparing your opposition to how states have fought the Covid-19 outbreak to what our founding fathers did. Let me tell you something I learned in my personal life -- during my time as a Marine Corps infantryman (0311, thank you, Honorable Discharge as a Sergeant (and I enlisted when I was 20)) no less: People who wrap themselves in the flag deserve to have the flagpole rammed up their butts. There no "anti-America" rhetoric coming from me.

There has been no deprivation of due process. States are preserving health, safety, and welfare. You'll be able to enforce your contracts after the event. Go back and re-take your eighth grade civics class if you don't believe me.

Do I like not being able to evict? No. Do I think that government intervention in the market is going to cause distortions? Yes. But your hystrionics and attempts at wrapping yourself in the flag are both idiotic in the extreme, and ignore both American law and American history.

Now, what was your MOS, final rank, and type of discharge?

"BTW, under your theorem, everyone should be rich, as everyone has access to the same infrastructure. All citizens of socialist countries should also be rich because the people own the infrastructure and means of production. Sorry, complete folly."

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Gary, you either didn't read my post or didn't read it for comprehension. I wrote that you built your wealth on a foundation provided by the government. You cannot deny that. How you jump from "you built yours" to "why isn't everyone rich then, huh?" is beyond me.

You and I took advantage of the opportunities governments created by giving us the foundation of a civilized society. Others don't and didn't. They aren't well off. We are. That is irrelevant to the fact that it was government that gave us the foundation of our success: infrastructure, the opportunities created by the presence of infrastructure (e.g. Central Park in New York,  mass transit stations near property we own, etc.) education, rule of law. The list goes on.

Is tax money squandered? Certainly. That is irrelevant to the simple fact that your wealth and my wealth is due to government action. Whether you want to whine about it or not, Gary, you have to give the Devil his due, and no, you did NOT build your wealth on your own. Your logic in trying to prove you did build it yourself  (why isn't everyone rich) is delusional in the extreme.

@Andrey Y

"If you are under the age of 60 and healthy, you're chance of dying from Covid-19 if you catch it, is exactly 0.002% (Infection fatality rate). Across all ages/overall, its 0.2-0.3%. Influenza is 0.1%."

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Lethality rates are meaningless without infection rates. Why do you omit infection rates in your comparison of Covid-19 and seasonal influenza?

"How did you manage to make this a race issue? This has absolutely nothing to do with blacks or whites. Honestly this has become so far fetched. The point in which I’m trying to make is that I believe there’s a middle ground between socialism and advocating Jim Crow."
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Hold on there, Sport. YOU are the one who brought up freedoms and liberty as our "founding fathers" knew it. They knew slavery and supported it. The point is that you take the good with the bad. So you get to wax rapsodic about our founding fathers defending property, you have to accept the fact that slaves were property. Guess what? Our founding fathers were not perfect and did not create a perfect system.

So now the state has temporarily stripped you of the ability to evict tenants. How is that "socialism" by any rational definition of the word? You'll be able to go after your tenants for back rent, and evict them, within a reasonable defined  length of time -- the end of the pandemic. That's not "socialism." It's not expropriation. It's state's exercising their inherent powers in the way they have exercised those powers for centuries (yes, even before, during, and after, our founding fathers).

Here's a suggestion: Stop your idiotic attempts at wrapping yourself in the flag.

"Anthony Jasmine

"How we respond to this pandemic is what I’m referring to when I say natural. Society has faced tough situations throughout all of human history. An artificially propped up economy that will inevitably collapse is not the solution."
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It created a new solution when everything shook out. Thus we will create a new solution without the hystrionics of ersatz historians. After all, the black death ended feudalism. Can't we agree that covid-19 will require governments to pay rents for those who dont? With appropriate penallties?

To your other response about your Rosa Parks rhetoric. No, that’s not what I mean. I think that we mutually and rationally understand that there’s a middle ground between socialism and institutional racism.

"I think that we mutually and rationally understand that there’s a middle ground between socialism and institutional racism. "

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No dice Anthony, but you are completely and totally ignorant of the approach the South took to Slavery. Don't even try to defend your ignorance. THEY WERE TALKING PROPERTY!! AND RIGHTS1111

The merest internet search will show your folly.

That leaves aside the assumption you cook up about socialism. Do you stand for the proposition that renters are racists? Or victims of racism? Or that rational responses to pandemics are racism?

"Nuff said.

"Tom Gimer  The only potential defendants here are the seller, and the buyer's attorney and real estate broker. This absolutely should never have been an issue left open to resolve post-closing."

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If the buyer wants to leave the issue open after closing the buyer's lawyer's duty is to counsel his client that the client is an eff****ing idiot. The buyer's lawyer's second duty is to paper his butt six ways to Sunday about all the ramifications of his client being an eff***ing idiot.

That done, the buyer has no recourse against his own lawyer.

"@Tom Gimer

@John Clark Nobody suggested suing the other guy's attorney."

Wrong. suit vs. attorney has always been a part of the discussion. Those people are wrong, too.
Here :;;;;;;;;;;;;;

"Think a lawsuit arguing breach of contract, and negligence on the part of the 1st attorney, Ms. ****, would be the best course of action. "

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The people who want to sue the seller's lawyer are wrong because he had no duty and no contract, with the buyer.

SUE the SELLER if able!!!!!!!!!!!!!

"Don't you think that the government could have possibly maybe just interfered a little less, and maybe things might be a little better? "
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Could have? Sure. Did it make a passable fist of the job under the circumstances? Yes. Don't let great be the enemy of good. work towards improvement, not perfection. We'll be perfect when we're dead.
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"Maybe we as Americans should allow the people to govern themselves a little as our founding fathers fought for that right? "
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Are you telling us that the colored need to go to the back of the bus?