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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (4340)	10/13/2016 10:39:45 AM
From: Kirk ©	Read Replies (1) \| Respond to of 26440

I bought a lot of GE, especially AFTER Buffett made that big loan with the huge option to buy more at $23. I even posted publicly about it when the shares where under $6 Tax free till you sell it and make capital gains or give it to a foundation and never pay taxes. I'd like to see capital gains get regular taxes but the cost basis indexed for inflation. I have a HUGE 7 figure gain on my house that is mostly from 22 years of inflation and soaring cost of living in the SF Bay Area. I and many I know won't sell because we'd be hit with $13.3% Super Wealthy punishment in CA plus what another 23% or so at the Fed level. More than a third of the gain goes to taxes so after buying and selling commissions, it makes it hard to downsize and not have to move into a far less desirable area. When Warren gets real about higher taxes - he'll say tax deductions on charitable givings to foundation should be stopped as a loop hole. I agree but hard to see the wealthy giving up this loop-hole of filling these foundations with off-spring and political payoffs or using the money to generate huge "speaking fees" for retired politicians to repay favors. I say make it simple and equal for all with a progressive rate based on income and no deductions / loop holes. Welcome aboard! The alternative tax credit should also go with any forced increase in the minimum wage rate. I'm mixed on that. I would like to see "tips" eliminated in the US and perhaps have a 5-yr "transition period" where restaurants and any other business that is "tipped" starts with a service fee that they eventually work into the overall advertised price. Here in over regulated Taxifornia, restaurants can't take the tips and redistribute it to the kitchen staff so they are having a hard time finding enough workers who are good cooks. That picture I posted on facebook with a very happy client was from the third Italian restaurant we tried for lunch. Her first two choices were closed for lunch with help wanted signs on the windows. There is so much "under the table" / side job income being skated as well. How many of us know people on disability also working under the table? P.S. temps got down to 35 last night - I spent the day harvesting all the ripe tomatoes - I'll be shipping your package early next week at the latest. My mouth is watering. I'm sure looking forward to that! Thanks in advance.