<p>I think she is way smarter than billy. Who ever gets her will be very lucky.</p>
<p>who do you think will get her?</p>
<p>The first major university that needs a rain maker. It wouldn’t surprise me if an ivy league school dumps a Pres. to get her.</p>
<p>Razorsharp, I just shake my head at your posts. </p>
<p>Do you ever listen to Sheila Bair?</p>
<p>OK - possible</p>
<p>“As I understand it, the state already does. What is new is that the state colleges and universities now will be able to.”</p>
<p>Well, it if it is the law, it is the law.</p>
<p>That is why nobody objects to senators or congressman or their buddies trading on inside information. The law is the law.</p>
<p>Who makes these laws? :)</p>
<p>Doct, who are you talking about? There must be a post that was deleted.</p>
<p>Its from another blog discussing Hillary</p>
<p>I surmised it was Bill and Hill :)</p>
<p>The Billy threw me. :)</p>
<p>I don’t follow Sheila Bair. What do you think of her dstark?</p>
<p>I think you should read her book, or if you get a chance watch and listen to her. She is a republican.</p>
<p>
</p>
<p>She does not like Geithner but the consensus seems to be that he has done a pretty good job after a rocky start. Am i wrong on that?</p>
<p>Hasn’t all of TARP been paid back?</p>
<p>TARP was just a piece of the bailout.</p>
<p>I am sure the banks like Geithner. We are told what the consensus is.</p>
<p>We are always told what to think.</p>
<p>I don’t know if you have a job, but if you do, do you get to pay long term capital gains taxes on that income? Do you get to pay long term capital gains taxes on other people’s capital?</p>
<p>Yes, I know it is hard to believe that someone would hire me but I have a job. My job is not to make investments so I don’t pay capital gains on my income. It’s just ordinary income.</p>
<p>What is capital gains is determined by congress and the Prez not but those who take advantage of it. Don’t hate the player, hate the game.</p>
<p>So back again to hedging home heating oil, for you experts out there, besides using the unh etf, do you know of any companies such as oil etc that have a good corrrelation with the price of heating oil?</p>
<p>“What is capital gains is determined by congress and the Prez not but those who take advantage of it. Don’t hate the player, hate the game.”</p>
<p>That is not true. Congress and the president are advised on the tax rates. I don’t remember when pe firms got their tax advantages, but the tax advantages were not the ideas of the politicians. I do remember when market makers, and traders of futures got their tax breaks. It wasn’t Rostenkowski’s or Reagan’s idea. They were conduits.</p>
<p>When a small segment of the population controls about $8 trillion, and the stock market is worth about $15 trillion or so, that control isn’t benign. It is not an accident that the owners of hedge funds and private
equity funds have great tax benefits. These firms control a lot of money and they have power. They dictate what they want, and if they don’t get it, they will fund somebody else who will get them what they want.</p>
<p>I am pretty sure the universities of Washington did not come up with the
idea, “Hey. Let’s invest in private equity.”, and I am pretty sure the elected officials didn’t either.</p>
<p>This wouldn’t be an issue if pe did so well. Some firms have a great track record. 75 percent of pe firms don’t beat the public markets. I am
probably being generous. That doesn’t sound great to me.</p>
<p>We have the fees of 2 percent on assets. 15 to 20 percent of the profits. Not easy to beat market returns. PE firms use leverage which helps on
the upside. There is so much capital in that space now, how is that money going to be invested profitably?</p>
<p>Plus, there seems to be collusion between the pe firms, which according to the law is illegal, and I know some people care about laws. And the owners of the pe firms are subsidized by other taxpayers, and I know some people hate subsidies. </p>
<p>Harvard and Yale have found their PE investments illiquid. I am sure other schools have found their pe investements illiquid. </p>
<p>Why do the universities of the state of Washington want to invest in pe? I forgot. :)</p>
<p>This is why I don’t like the guys on CNBC. Guys like Rick Santelli. </p>
<p>Does Rick ever mention the tax breaks floor traders, and he used to be a floor trader, get?
He interviews floor traders and they complain about taxes and the deficit, right?</p>
<p>Does Rick ever mention the tax breaks he used to get and floor traders get now?
Because while he rants and raves about the 47 percent who don’t pay income taxes, I never see him mention that his fellow traders (the traders that trade futures and options) pay 60 percent of their short
term profits in long term capital gains taxes.</p>
<p>That means that for every 100,000 in income, the floor traders are
saving about $12,000 in taxes. That means razorsharp, that if you make $100,000 from your job, and a floor trader makes $100,000, the floor
trader is paying $12,000 less than you are in income taxes. And some
guy who makes $30,000 a year, who pays nothing in income taxes and is part of the 47 percent, isn’t getting a $12,000 tax break either. </p>
<p>Let me know when you see Rick Santelli mention this on tv. I will watch a video replay. There could be more breaks for floor traders too. And it isn’t just floor traders. Other professional traders get these breaks. HFT firms get these breaks. They trade for microseconds and pay long term capital gains on some of their short term profits. Pretty good deal. HFT firms are going to be investigated quite a bit in the future, all the while receiving tax breaks. :)</p>
<p>Too be fair, if you trade futures you can get some of these tax breaks. Same with some of the index options.</p>
<p>In regards to my prior post, to be more accurate, unlike the guys on CNBC who don’t care about accuracy, the $12,000 per $100,000 savings is comparing the top bracket of 35 percent to the long term gains tax of 15 percent.</p>
<p>So…the first $100,000 of earnings for a floor trader isn’t taxed $12,000 less than ordinary income. The savings are less than $12,000. The tax savings increase as the traders income increases.</p>
<p>If this isn’t understandable, sorry.</p>
<p>Rick understands it. ;)</p>
<p>I love Rick Santelli. He is the most informed person on CNBC. </p>
<p>In my job, I can make $100,000 but I cannot lose $100,000. A floor trader can lose $100,000 because his job involves capital risk. To compensate for the extra risk of futures trading, I can see why capital gains treatment would be appropriate. Don’t regular investors who trade futures also get capital gains treatment for their trade profits? Without floor traders there is no futures market. It makes sense to create an incentive for them to take a risk with their money so the rest of us have a market in which to invest.</p>