Gotta check out this blog if you're interested in tax lien sales!
http://taxlienconsulting.blogspot.com/
v/r,
FMC
Friday, November 14, 2008
TAX LIEN SALES - An Alternative Investment Strategy
In the midst of the current economic climate, it seems reasonable to believe that it will be more difficult for folks to pay their tax bills in the years ahead. Putting my investor's hat on for a moment, I've been wondering if there is money to be made in tax lien auctions.
Here's the scenario:
People don’t pay their property tax
The county publicly advertises who did NOT pay their property taxes...ouch.
Before the tax lien sale, investors put down a deposit ahead of time with the county in order to take part in the auction.
Investors then go to the tax lien sale
Preferably go IN PERSON to a small town’s tax lien sale, if this is even possible anymore. While online sales are more the norm, there are more bidders in internet auctions; as such, you'll likely experience higher bidding prices online
Everybody gets together in person or online on a particular day and bids
Example: You may pay 8% upfront on $1,000 tax owed by a homeowner ($80 upfront cost...this is non-refundable...basically, the bid amt. is the risk you must accept to take part in the auction)
If you win the bid, you'd then have the right to pay that person’s tax obligation for future years. This is an important legal requirement, as it gives you the ability to receive additional compensation (investment returns) from the homeowner when they ultimately pay their tax bill + penalties for paying late. Also, paying someone else's property taxes upfront can POSSIBLY result in you owning the property outright!! Read on...
Basically, you'd hold the tax lien certificate until the property owner pays the tax they owe
When time passes and the homeowner eventually pays their tax bill, you get a return on your investment…you usually have a high rate of return each year (could be a 14% return on your $1,000 investment)
First year you could get one rate of return (let's say, a 6% return)….the next year you could possible get a higher 14% return, etc.
After 3 years, let's say, you can potentially be awarded a “quiet title” (this grand prize is not likely, cuz' most folks end up paying their tax bill when push comes to shove); if you were awarded the quiet title, though, you’d want to advertise in the paper that the owner needs to pay their taxes (this ad serves as legal notice to all interested parties like the owner, bank, etc.) that you, the holder of the tax lien certificate, could purchase the property for $3,000 ($1,000 each year), plus the original $80, and thus take ownership of the entire property for a mere $3,080...these numbers are just used for illustration purposes...again, this grand prize scenario typically doesn't happen. With that said, you're STILL more likely to get a return on your investment from holding the tax lien certificate for a while, which is a good thing!!
Potential pitfalls:
If you pay the $1,080 upfront and the owner pays all of their tax liability the next day, you’re out $80...oh well, you have to accept some risk...however, the longer it takes the homeowner to pay his or her taxes,the more money you can potentially make on your investment when they finally make a payment...this return on investment is likely higher than anything you can get in the stock market at the moment.
You need to know what type of land/house you want to buy a tax lien on and what you can do with the property...do the homework...this stuff is not for amateurs!
Bottom line:
Folks who are breaking the law by not paying their taxes put their own assets at risk
It appears to me that savvy investors who can find in-person auctions may fare better than tax lien auctions held online.
This type of investing seeems like a reasonable alternative to the stock market; however, invest at your own risk…most folks eventually pay the tax they owe.
I haven’t decided whether or not to implement this investment strategy. On one hand, it seems kinda cruel to punish someone down on their luck; however, if folks are breaking the law by not paying their taxes, their local government is going to make them pay more no matter what...investors who agree to pay someone else's tax bill RIGHT NOW should be compensated for bailing these folks out on a temporary basis.
While I remain conflicted on this topic, I’m curious if this type of investment strategy will grow in popularity over the next couple of years, given the current economic crisis. If folks can't pay their mortgages, why should we believe they'd be able to pay their property taxes?
http://en.wikipedia.org/wiki/Tax_lien_sale
FMC
Here's the scenario:
People don’t pay their property tax
The county publicly advertises who did NOT pay their property taxes...ouch.
Before the tax lien sale, investors put down a deposit ahead of time with the county in order to take part in the auction.
Investors then go to the tax lien sale
Preferably go IN PERSON to a small town’s tax lien sale, if this is even possible anymore. While online sales are more the norm, there are more bidders in internet auctions; as such, you'll likely experience higher bidding prices online
Everybody gets together in person or online on a particular day and bids
Example: You may pay 8% upfront on $1,000 tax owed by a homeowner ($80 upfront cost...this is non-refundable...basically, the bid amt. is the risk you must accept to take part in the auction)
If you win the bid, you'd then have the right to pay that person’s tax obligation for future years. This is an important legal requirement, as it gives you the ability to receive additional compensation (investment returns) from the homeowner when they ultimately pay their tax bill + penalties for paying late. Also, paying someone else's property taxes upfront can POSSIBLY result in you owning the property outright!! Read on...
Basically, you'd hold the tax lien certificate until the property owner pays the tax they owe
When time passes and the homeowner eventually pays their tax bill, you get a return on your investment…you usually have a high rate of return each year (could be a 14% return on your $1,000 investment)
First year you could get one rate of return (let's say, a 6% return)….the next year you could possible get a higher 14% return, etc.
After 3 years, let's say, you can potentially be awarded a “quiet title” (this grand prize is not likely, cuz' most folks end up paying their tax bill when push comes to shove); if you were awarded the quiet title, though, you’d want to advertise in the paper that the owner needs to pay their taxes (this ad serves as legal notice to all interested parties like the owner, bank, etc.) that you, the holder of the tax lien certificate, could purchase the property for $3,000 ($1,000 each year), plus the original $80, and thus take ownership of the entire property for a mere $3,080...these numbers are just used for illustration purposes...again, this grand prize scenario typically doesn't happen. With that said, you're STILL more likely to get a return on your investment from holding the tax lien certificate for a while, which is a good thing!!
Potential pitfalls:
If you pay the $1,080 upfront and the owner pays all of their tax liability the next day, you’re out $80...oh well, you have to accept some risk...however, the longer it takes the homeowner to pay his or her taxes,the more money you can potentially make on your investment when they finally make a payment...this return on investment is likely higher than anything you can get in the stock market at the moment.
You need to know what type of land/house you want to buy a tax lien on and what you can do with the property...do the homework...this stuff is not for amateurs!
Bottom line:
Folks who are breaking the law by not paying their taxes put their own assets at risk
It appears to me that savvy investors who can find in-person auctions may fare better than tax lien auctions held online.
This type of investing seeems like a reasonable alternative to the stock market; however, invest at your own risk…most folks eventually pay the tax they owe.
I haven’t decided whether or not to implement this investment strategy. On one hand, it seems kinda cruel to punish someone down on their luck; however, if folks are breaking the law by not paying their taxes, their local government is going to make them pay more no matter what...investors who agree to pay someone else's tax bill RIGHT NOW should be compensated for bailing these folks out on a temporary basis.
While I remain conflicted on this topic, I’m curious if this type of investment strategy will grow in popularity over the next couple of years, given the current economic crisis. If folks can't pay their mortgages, why should we believe they'd be able to pay their property taxes?
http://en.wikipedia.org/wiki/Tax_lien_sale
FMC
Thursday, November 6, 2008
Random Thoughts from a Conservative Mind
‘Market Pricing’
It’s amazing to see that the same ideologues who formed the policies that created the economic crisis are now in charge of 'fixing' it. Most Americans are do not understand HOW we got here; however, everyone seems to be more interested in all of the new, creative ways to artificially keep home prices and stock prices high. This mindset is what got us into the problem in the first place! The market knows better and is pricing in all of the future tax hikes, government intervention, isolationist policies, and asset devaluations that are coming our way.
‘Class Warfare & Investing’
Since we're going to a Chicago-style approach to governing the country, expect the duck and weave from investors in an effort to save their money and more cautiously invest. What the class warfare-types out there don't understand is that you need the 'rich folks' to invest their dollars in the market before the 'poor folk’s' 401K balances can go up…if you punish the ‘rich’, as Obama wants to do, you get the results we've seen over the past few months: an uncertain market that is pricing in higher expected costs of doing business. The trickle down is that everyone suffers more in a socialist-driven environment.
Admittedly, certain industries the government deems acceptable will benefit, at least in the very short term...the market will pounce on these industries fast, so it’s helpful to know just what Obamasan is going to do if you want to make money in this market going forward. Expect a lot of volatility…right now, we’ve got lower than average volume coupled with a derivatives market that can drive stock prices violently one way or another…proceed with caution if you proceed at all. Personally, I’d look at maxing out tax-deferred instruments, look closely at municipal bonds, and do a lot of praying.
‘Obama’s Motives’
The way I see it, an Obama administration will be more concerned with picking specific winners and losers in the market, while at the same time punishing some of the most successful industries in an effort to further specific social and economic agendas. Obama himself said that the Constitution does not go far enough with providing the Courts the authority to redistribute income (this is a social agenda, right?? The ‘tax cut’ for 95% of Americans clearly ties into this agenda). This message may have helped to win votes, but it has NOTHING to do with helping the overall economy whatsoever. I predict that Obama will have to rescind his tax cut proposal, citing the economy as the primary reason. Hey, it worked for Clinton.
Other Dems like Pelosi have said that they can't worry about offshore drilling because they're trying to “Save the planet” (if this isn't putting ideology before the people, I don't know what is). These policies, in my view, are driven primarily by guilt and go far beyond the tenets of even socialism...this stuff borders on sheer delusion.
Even though crazy people have elected crazy people to some of the highest offices in the land, certain industries in our economy will nevertheless bounce back under an Obama administration (yes, it's possible). When they do, they’ll bounce back hard, even violently in some cases. When will this happen and what are the industries? I dunno, and neither does the market at the moment. There's too much uncertainty right now to figure this out...this is why everyone is running for the exits.
To make everyone feel better, everything will likely get better at some point...wow, that was easy...pointless & completely arbitary. Here's another one: by the time the new Obama puppy is completely potty-trained, we'll see a stabilization in the markets. Wow, that was easy too...I should be an analyst.
‘Emotional Election’
The American people may have voted on emotion for this election; however, it doesn't take a rocket scientist to know that if you take enough money from hardworking Americans, they'll eventually vote you out of office. Americans have already shown that their support of environmentalism has its limits...I estimate the support threshold of environmentalist-waco policies is around $4.00/gallon, unleaded.
Let’s face it…environmental agendas cost a lot of money...I don't believe the average American family is willing to pay much more than they're paying now to implement these agendas, no matter how guilty they feel. The race guilt has been assuaged for many liberals with the election of Obama, so why should they do much more in the future to promote environmental policies? If supporting these policies means higher taxes, lost jobs, or lower wages, then wait just a dog-gone minute...they didn't sign up for this much pain...they thought they were getting a check. The bottom line is that everyone has their limits...the Dumb and the Ignorant are no exception.
‘The Misled & Misinformed’
It’s amazing to see that the same ideologues who formed the policies that created the economic crisis are now in charge of 'fixing' it. Currently, most Americans are not talking about WHY we got here or even understand HOW we got here, but everyone is definitely concerned about all of the new, creative ways to artificially keep prices high so that they can keep all of the stuff that they shouldn't have bought in the first place. This backwards mindset is what got us into the problem in the first place! The market knows this and is pricing in all of the future tax hikes, inevitable government intervention, and general uncertainty surrounding a President who believes that reparations for slavery should be paid by today's taxpayers.
“Recommendations”
1) Pray often for the country
2) Find every ounce of humor within every pound of stupidity on display
3) Turn off the television for four years
4) Buy a puppy…you’ll be happier
FMC
It’s amazing to see that the same ideologues who formed the policies that created the economic crisis are now in charge of 'fixing' it. Most Americans are do not understand HOW we got here; however, everyone seems to be more interested in all of the new, creative ways to artificially keep home prices and stock prices high. This mindset is what got us into the problem in the first place! The market knows better and is pricing in all of the future tax hikes, government intervention, isolationist policies, and asset devaluations that are coming our way.
‘Class Warfare & Investing’
Since we're going to a Chicago-style approach to governing the country, expect the duck and weave from investors in an effort to save their money and more cautiously invest. What the class warfare-types out there don't understand is that you need the 'rich folks' to invest their dollars in the market before the 'poor folk’s' 401K balances can go up…if you punish the ‘rich’, as Obama wants to do, you get the results we've seen over the past few months: an uncertain market that is pricing in higher expected costs of doing business. The trickle down is that everyone suffers more in a socialist-driven environment.
Admittedly, certain industries the government deems acceptable will benefit, at least in the very short term...the market will pounce on these industries fast, so it’s helpful to know just what Obamasan is going to do if you want to make money in this market going forward. Expect a lot of volatility…right now, we’ve got lower than average volume coupled with a derivatives market that can drive stock prices violently one way or another…proceed with caution if you proceed at all. Personally, I’d look at maxing out tax-deferred instruments, look closely at municipal bonds, and do a lot of praying.
‘Obama’s Motives’
The way I see it, an Obama administration will be more concerned with picking specific winners and losers in the market, while at the same time punishing some of the most successful industries in an effort to further specific social and economic agendas. Obama himself said that the Constitution does not go far enough with providing the Courts the authority to redistribute income (this is a social agenda, right?? The ‘tax cut’ for 95% of Americans clearly ties into this agenda). This message may have helped to win votes, but it has NOTHING to do with helping the overall economy whatsoever. I predict that Obama will have to rescind his tax cut proposal, citing the economy as the primary reason. Hey, it worked for Clinton.
Other Dems like Pelosi have said that they can't worry about offshore drilling because they're trying to “Save the planet” (if this isn't putting ideology before the people, I don't know what is). These policies, in my view, are driven primarily by guilt and go far beyond the tenets of even socialism...this stuff borders on sheer delusion.
Even though crazy people have elected crazy people to some of the highest offices in the land, certain industries in our economy will nevertheless bounce back under an Obama administration (yes, it's possible). When they do, they’ll bounce back hard, even violently in some cases. When will this happen and what are the industries? I dunno, and neither does the market at the moment. There's too much uncertainty right now to figure this out...this is why everyone is running for the exits.
To make everyone feel better, everything will likely get better at some point...wow, that was easy...pointless & completely arbitary. Here's another one: by the time the new Obama puppy is completely potty-trained, we'll see a stabilization in the markets. Wow, that was easy too...I should be an analyst.
‘Emotional Election’
The American people may have voted on emotion for this election; however, it doesn't take a rocket scientist to know that if you take enough money from hardworking Americans, they'll eventually vote you out of office. Americans have already shown that their support of environmentalism has its limits...I estimate the support threshold of environmentalist-waco policies is around $4.00/gallon, unleaded.
Let’s face it…environmental agendas cost a lot of money...I don't believe the average American family is willing to pay much more than they're paying now to implement these agendas, no matter how guilty they feel. The race guilt has been assuaged for many liberals with the election of Obama, so why should they do much more in the future to promote environmental policies? If supporting these policies means higher taxes, lost jobs, or lower wages, then wait just a dog-gone minute...they didn't sign up for this much pain...they thought they were getting a check. The bottom line is that everyone has their limits...the Dumb and the Ignorant are no exception.
‘The Misled & Misinformed’
It’s amazing to see that the same ideologues who formed the policies that created the economic crisis are now in charge of 'fixing' it. Currently, most Americans are not talking about WHY we got here or even understand HOW we got here, but everyone is definitely concerned about all of the new, creative ways to artificially keep prices high so that they can keep all of the stuff that they shouldn't have bought in the first place. This backwards mindset is what got us into the problem in the first place! The market knows this and is pricing in all of the future tax hikes, inevitable government intervention, and general uncertainty surrounding a President who believes that reparations for slavery should be paid by today's taxpayers.
“Recommendations”
1) Pray often for the country
2) Find every ounce of humor within every pound of stupidity on display
3) Turn off the television for four years
4) Buy a puppy…you’ll be happier
FMC
CHANGE IS COMING: HIGHER TAXES
Here are some of the confiscatory tax increases Obama has thrown around (I feel like I’m in the twilight zone while writing this):
1) Foreign Income Tax Credit: I saw on the news today that Obama wants to eliminate the foreign income tax credit for multi-national businesses…doing away with this credit is essentially a tax increase on multi-national corporations…currently, if an American business has income from foreign-based operations, a tax credit in the amount of the overseas income tax paid can be taken on the U.S. tax return…the current practice is good for business, as companies currently don't pay tax twice on revenues earned overseas.
To my knowledge, under Obama, foreign income tax would be paid to the foreign country AND the foreign income would be taxed AGAIN in the U.S. when the income is reported on the U.S. tax return...this sucks! This is a HUGE deal for multi-national firms…being taxed twice on foreign income means less incentive to expand international operations, less money to hire new employees, and lower overall corporate profits. It’s just another example of how Obama's tax plan will kill American jobs by increasing the cost of doing business.
Just wait, I predict Obama will publicly say that he will not increase federal corporate income taxes…”Keep ‘em at 35%”, he’ll say. This will be the headline in the liberal media. However, most folks will not understand the effect of repealing the foreign income tax credit. Keeping the corporate income tax the same will pacify the uninformed…the Dems love to keep their own constituents in the dark on the facts, so it's wise to keep the repeal of the foreign tax credit in mind when the Dems come out w/ their 'gracious' 35% corporate income tax non-decision. And yes, they'll expect thanks from all of us for not raising this corporate income tax rate...just wait and see.
2) Cap & Trade Penalty – this is basically penalizing industries that create carbon emissions (i.e., coal industry and the like). Obama has said he would essentially institute penalties on the coal industry (in his own words, he said he’d bankrupt these companies!!) in an effort to pump more money into other more favorable energy industries of his choosing, such as solar…I’m not making this stuff up...Obama’s on the record w/ a San Francisco newspaper. In my view, Obama wants to penalize one industry in order to create an entirely new industry…this is government picking winners and losers again…we saw how well this worked with Lehman Brothers.
How is Obama going to pick winners and losers in different industries with our trading partners? Is this even possible?? China is causing more global pollution problems than anyone else with its coal plants…is Obama going to penalize China as well? Where does his approach stop? The markets have no idea, and we can see them price in the uncertainty on this issue and other issues as well.
Since coal is the #1 resource that provides electricity in America, expect energy bills to go up A LOT for most Americans if the coal industry is penalized to the max as Obama has suggested.
But, hey, if you believe that global temperatures will go down by .7 degrees over the next 100 years (maybe) if we punish the coal industry, then you’ll appreciate this selfish approach to government intervention. This is just one example of how the environmentalists are ruining the country. These folks are completely brainwashed and will stop at nothing to get what they want.
Meanwhile, folks who disagree with this approach will have to pay higher taxes to make the dream a reality. When are the majority of folks going to get a clue?
3) Obama wants to increase cap gains tax to 20%
Gee, this will help investment, won’t it? Not at all. In a tough market, this additional 5% means a lot to an individual investor, particularly when there aren't a lot of stocks moving to the upside.
4) Obama wants to increase taxes for single folks making over $200K and increase taxes for couples making over $250K…the upper cap on these federal income tax increases are close to 40%...of course, this % does not include Obama’s increases in payroll taxes and social security taxes…we could see effective tax rates at over 60% for the ‘rich’.
Why increase taxes on anyone right now? If you tax rich people more, they’ll simply hold on to their money, find more creative ways to save, or simply won’t invest as much. Also, you'll have more under-the-table illegal activity increase as a result of the new tax climate.
Chicago-style politics, here we come...
v/r,
FMC
1) Foreign Income Tax Credit: I saw on the news today that Obama wants to eliminate the foreign income tax credit for multi-national businesses…doing away with this credit is essentially a tax increase on multi-national corporations…currently, if an American business has income from foreign-based operations, a tax credit in the amount of the overseas income tax paid can be taken on the U.S. tax return…the current practice is good for business, as companies currently don't pay tax twice on revenues earned overseas.
To my knowledge, under Obama, foreign income tax would be paid to the foreign country AND the foreign income would be taxed AGAIN in the U.S. when the income is reported on the U.S. tax return...this sucks! This is a HUGE deal for multi-national firms…being taxed twice on foreign income means less incentive to expand international operations, less money to hire new employees, and lower overall corporate profits. It’s just another example of how Obama's tax plan will kill American jobs by increasing the cost of doing business.
Just wait, I predict Obama will publicly say that he will not increase federal corporate income taxes…”Keep ‘em at 35%”, he’ll say. This will be the headline in the liberal media. However, most folks will not understand the effect of repealing the foreign income tax credit. Keeping the corporate income tax the same will pacify the uninformed…the Dems love to keep their own constituents in the dark on the facts, so it's wise to keep the repeal of the foreign tax credit in mind when the Dems come out w/ their 'gracious' 35% corporate income tax non-decision. And yes, they'll expect thanks from all of us for not raising this corporate income tax rate...just wait and see.
2) Cap & Trade Penalty – this is basically penalizing industries that create carbon emissions (i.e., coal industry and the like). Obama has said he would essentially institute penalties on the coal industry (in his own words, he said he’d bankrupt these companies!!) in an effort to pump more money into other more favorable energy industries of his choosing, such as solar…I’m not making this stuff up...Obama’s on the record w/ a San Francisco newspaper. In my view, Obama wants to penalize one industry in order to create an entirely new industry…this is government picking winners and losers again…we saw how well this worked with Lehman Brothers.
How is Obama going to pick winners and losers in different industries with our trading partners? Is this even possible?? China is causing more global pollution problems than anyone else with its coal plants…is Obama going to penalize China as well? Where does his approach stop? The markets have no idea, and we can see them price in the uncertainty on this issue and other issues as well.
Since coal is the #1 resource that provides electricity in America, expect energy bills to go up A LOT for most Americans if the coal industry is penalized to the max as Obama has suggested.
But, hey, if you believe that global temperatures will go down by .7 degrees over the next 100 years (maybe) if we punish the coal industry, then you’ll appreciate this selfish approach to government intervention. This is just one example of how the environmentalists are ruining the country. These folks are completely brainwashed and will stop at nothing to get what they want.
Meanwhile, folks who disagree with this approach will have to pay higher taxes to make the dream a reality. When are the majority of folks going to get a clue?
3) Obama wants to increase cap gains tax to 20%
Gee, this will help investment, won’t it? Not at all. In a tough market, this additional 5% means a lot to an individual investor, particularly when there aren't a lot of stocks moving to the upside.
4) Obama wants to increase taxes for single folks making over $200K and increase taxes for couples making over $250K…the upper cap on these federal income tax increases are close to 40%...of course, this % does not include Obama’s increases in payroll taxes and social security taxes…we could see effective tax rates at over 60% for the ‘rich’.
Why increase taxes on anyone right now? If you tax rich people more, they’ll simply hold on to their money, find more creative ways to save, or simply won’t invest as much. Also, you'll have more under-the-table illegal activity increase as a result of the new tax climate.
Chicago-style politics, here we come...
v/r,
FMC
Wednesday, November 5, 2008
A GAME OF EXPECTATIONS
Even though we’ve heard sweeping rhetoric and platitudes from Obama over the past two years and expectations have been set very high, expect the Dems to dial it back a notch (okay, twenty notches) in the coming months. If you listen to Obama carefully, he has already begun to set lower expectations for the months and years ahead…expect Obama to give himself a number of ‘outs’ over the next six months that will artfully allow him to retreat from his campaign promises.
These ‘outs’ will likely be billed by Obama as accepting the brutal realities of the current economic climate. It’s actually quite humorous to watch this happen so quickly after the election. I have no doubt that most Americans don’t have a clue as to how these lowered expectations will influence them...these folks are sheep.
I predict that the rosy outlook for Obama will change for many after the sunshine period of the next few months is over. If the economy gets worse over the next few years (and it likely will), don’t be surprised if Obama gets thrown under the bus by many voters as quickly as he has been embraced.
On some level, I believe that many on the left have assuaged their guilt by electing a minority President who is, in reality, the least qualified candidate for the Presidency in the history of our country. If someone doesn't believe that race didn't play a big part in this election, they're crazy. Don't be surprised if the majority of American's self-professed altriusm quickly comes into conflict with the realities of higher prices and higher taxes they must now pay to achieve that warm, squishy feeling they so adamantly desired.
Oh, the market is down another 300 points today on the Obama decision. Perhaps the market keeps pricing in the expected tax increases, as it has done for weeks now...duh. Perhaps Obama supporters who have 401Ks thought that their retirement plans were based on something other than stock prices...
v/r,
FMC
These ‘outs’ will likely be billed by Obama as accepting the brutal realities of the current economic climate. It’s actually quite humorous to watch this happen so quickly after the election. I have no doubt that most Americans don’t have a clue as to how these lowered expectations will influence them...these folks are sheep.
I predict that the rosy outlook for Obama will change for many after the sunshine period of the next few months is over. If the economy gets worse over the next few years (and it likely will), don’t be surprised if Obama gets thrown under the bus by many voters as quickly as he has been embraced.
On some level, I believe that many on the left have assuaged their guilt by electing a minority President who is, in reality, the least qualified candidate for the Presidency in the history of our country. If someone doesn't believe that race didn't play a big part in this election, they're crazy. Don't be surprised if the majority of American's self-professed altriusm quickly comes into conflict with the realities of higher prices and higher taxes they must now pay to achieve that warm, squishy feeling they so adamantly desired.
Oh, the market is down another 300 points today on the Obama decision. Perhaps the market keeps pricing in the expected tax increases, as it has done for weeks now...duh. Perhaps Obama supporters who have 401Ks thought that their retirement plans were based on something other than stock prices...
v/r,
FMC
Tuesday, October 14, 2008
What is Obama Hiding?
Here is a fascinating phone conversation with Phil Berg on the Obama citizenship issue:
http://www.myfoxtoledo.com/myfox/MyFox/pages/sidebar_video.jsp?contentId=7637919&version=1&locale=EN-US
v/r,
FMC
http://www.myfoxtoledo.com/myfox/MyFox/pages/sidebar_video.jsp?contentId=7637919&version=1&locale=EN-US
v/r,
FMC
Monday, October 13, 2008
Subscribe to:
Posts (Atom)
