It is a bit absurd to even label this crises 1500x or 1000x the depression. We are no where near those levels in Unemployment (Yes even the shadow Gov numbers are bullshit), GDP negitve numbers, Bank Failuers, etc.
But what we are in danger of is the following:
http://www.economist.com/opinion/displaystory.cfm?story_id=13576151
Currently I am in the AMT ballpark. Every time I bring in money to fund one of my projects, i get 10% at face value. However, after taxes, and what not, I get paid out far less. I'm fully vested in my own 401k, at 10% of my yearly earnings. I have opened IRA's and I am full vested in those as well. I still clear enough to live a great life after taxes...but the point is..... I pay far more than my fair share.
So, now we are trying to figuer out....How to I not make over 200k next year. Is there a way to pay out commission's later after that tax year, like a gold'n hand cuff with out taxation. How in the hell do I and the other members of my Private Equity Team prevent 50% of our earnings from going to the goverment, in a legal manner? Once that happens and we and others will find a legal way, watch what happens to the Economy.
We are working with a Tax Attorney now and hopefully will find some loop hole somewhere.
But right now, looks like 2010 may be the year the Economy really gets knocked down if the tax laws that OBAMA wants to put into play, come to life.
however, right now....we are no where near 1928-1930s level.
But what we are in danger of is the following:
http://www.economist.com/opinion/displaystory.cfm?story_id=13576151
Currently I am in the AMT ballpark. Every time I bring in money to fund one of my projects, i get 10% at face value. However, after taxes, and what not, I get paid out far less. I'm fully vested in my own 401k, at 10% of my yearly earnings. I have opened IRA's and I am full vested in those as well. I still clear enough to live a great life after taxes...but the point is..... I pay far more than my fair share.
So, now we are trying to figuer out....How to I not make over 200k next year. Is there a way to pay out commission's later after that tax year, like a gold'n hand cuff with out taxation. How in the hell do I and the other members of my Private Equity Team prevent 50% of our earnings from going to the goverment, in a legal manner? Once that happens and we and others will find a legal way, watch what happens to the Economy.
We are working with a Tax Attorney now and hopefully will find some loop hole somewhere.
But right now, looks like 2010 may be the year the Economy really gets knocked down if the tax laws that OBAMA wants to put into play, come to life.
however, right now....we are no where near 1928-1930s level.