patrick.net

Egads101,
Can you answer a landlording question? Do you own the houses in your own name (presumably not "The Oracle")? Or did you set up an LLC?
I can imagine benefits for your own name: access to lower interest rates for one.
But with an LLC, if the economy tanked and the values and rents dropped, you could let the LLC go bankrupt while your personal assets would be separate. Or if there were some lawsuit, this might offer protection.

Are taxes better for personal ownership or LLC? I imagine property taxes are the same, but there could be an income tax difference.

CA landlords; if you own the home in an LLC, can you sell the LLC instead of the house? Then the LLC still owns the house, so the prop 13 tax basis is still low. Does this work?

Thanks for any inputs.

It's a stepping stone job, bootcamp for evil bankers. Some eventually move to their dream job as Nazi camp prison guards.

bgamall4 says

Lol, Dan, that is cute!

tatupu70 says

Reality says

Your post# 185 "One President does not trump 30 years of data."

How do you twist that into saying "Carter as one failure out of 2 Post WWII decades"? Do you think those two statements are the same?

How did you twist "3 post-WWII decades" into "2 Post"?

"One President does not trump 3 decades of data" of course is the same as claiming Carter as the singular failure in the post-WWII 3 decades when I was saying things were bad before Reagan whereas you claim things were peachy except for Carter (the "One President").

tatupu70 says

Reality says

Don't you know that when it comes to presidential elections, "It's the economy, stupid!"

lol--I think that statement assumed that there weren't 52 American hostages held for 444 days. That might tend to trump some general rules.

The election was a landslide, not a close-run. The failure of the rescue attempt by the US government (while Ross Perot successfully rescued his company employees at the same time) was symptomatic of the decay that had been accelearated by LBJ's gun-and-butter program and made all the worse by Nixon, and then ineffective subsequent care-takers Ford and Carter.

tatupu70 says

Reality says

The wealth and power of a pretty young thing

Who is talking about power? I'm talking about wealth.

What is wealth but the power to get someone else to do things that you'd like done for you? The pretty young thing has plenty "asset."

APOCALYPSEFUCK is Comptroller says

FortWayne says

Some eventually move to their dream job as Nazi camp prison guards.

Well, it's better than having no career path, right?

They sure are goal oriented.

ThreeBays says

What does the government have to do with the $35 Tylenol pill?

In two ways:

1. Government licensing requirement for hospitals and medical practice licenses makes most areas in the country monopolized by one hospital, few practitioners . . . and no service price list.

2. Government subsidy on certain patients and requirement to treat all patients at emergency rooms force hospitals to think up ways to transfer cost via silly vehicles, like the $35 Tylenol pill.

The US has a free market place if ever there was one. Free as in "your money or your life" free.

Medicine is one of the most heavily regulated industries in the US, along with education and banking. As you can see how well the people are treated in those three industries, compared to other industries where free market competition is more dominant.

So let me get this straight, big corporations surely should be forced to pay more to their employees because they are so flush with cash, except for when the market conditions deteriorate, then they immediately need Fed assistance, in fact let's leave the fiat-printing switch in the on-position forever to prevent the market from ever deteriorating. Sounds like a good business model to me. Wait, but the CEOs and owners still take away way too much money, so let's somehow regulate that part as well. Looks like we arrived at central planning then ;)

Foreclosures are a result of falling prices, not the cause.

ThreeBays says

Do you think Medicare pays $35 for Tylenol? Medicare pays a lot less for services than private insurance, which is a lot less than what hospitals would like to charge.

That's the crux of cost-transferring. Hospitals can get away with it because most hospitals are geographical monopolies thanks to local zoning and licensing requirement.

mell says

I already said that companies without debt would have done fine and even welcomed the new opportunities.

Yes, I'm sure CEOs of other companies were sitting around praying for financial Armageddon because the resulting 50% unemployment would do wonders for their sales and profits.

mell says

Cool! What do I win if I'm picked? How about unlimited backstopping of my brokerage account with some freshly minted fiat? I have some big bets to make!

You realize that you'd be receiving LOANS, right? So, when you lose, you lose. You'd just have the opportunity to work the rest of your life to pay it back.

FortWayne says

robcolorado says

I sense a lot of hate for Realtors on this website. It's subtle, like an undertone...but it's there. :p

Not all realtors. But there is a significant dislike for certain types of realtors, flippers, etc... Just people who are completely worthless middle men that lie, cheat, and steal their way into a position to screw others around them.

I don't think anyone likes the type of people who take advantage of others for personal gain.

I don't disagree; if they're not adding value, they're worthless and extracting wealth from the transaction.

Reality says

tatupu70 says

Reality says

The wealth and power of a pretty young thing

Who is talking about power? I'm talking about wealth.

What is wealth but the power to get someone else to do things that you'd like done for you? The pretty young thing has plenty "asset."

lol--OK pretty girls aside. If the world works like you say it does, wouldn't it be reflected in the measurable wealth?

Because the measurable wealth inequality behaves exactly how I would predict based on the tax rates at the time.

robcolorado says

I don't disagree; if they're not adding value, they're worthless and extracting wealth from the transaction.

http://www.youtube.com/embed/IFyxmdnv3qE

Typical right wing obstructionist bullshit. Do they offer any alternative plan for reforming healthcare? No. Do they acknowledge that the system was broken, with double-digit annual premium increases, people going bankrupt from illnesses, and millions of uninsured who either couldn't afford insurance or weren't even ALLOWED to buy insurance? No. How about reasonable refutations of the points Obama made in that speech? Nope, just "Obama lied!!! Waaah!!!!". If you want to be technical, it wasn't a lie. Plans are grandfathered in unless they change, so all the plans that were discontinued were changed. ACA hasn't caused anyone to lose "their" insurance, because their policy was changed by the insurance company. Therefore it is not "their" insurance.

People's insurance plans were dropped ALL THE TIME before ACA. So why is that suddenly slightly higher on the scale of atrocities than the Holocaust? It's not. What it is, is the republicans tried 40 times to abolish ACA, and failed. So then the republican governors had hissy fits and refused to set up exchanges in their states. Then the republicans shut down the government, a tactic which failed miserably. Now they are out of obstructionist ideas, so they're just going to scream "Obama lied!!" at the top of their lungs, even though not a single one of them has offered a reasonable explanation as to why there shouldn't be minimum standards for insurance, or offered a reasonable alternative.

Just a gigantic hissy fit by the one percent. That's what this is.

Homeboy says

Typical right wing obstructionist bullshit.

Obama lied about this on at least 29 incidents, and is there some reason why you don't have a problem wihttthat?

zzyzzx says

Obama lied about this on at least 29 incidents, and is there some reason why you don't have a problem wihttthat?

I wrote a detailed 20 line explanation of why the republican fixation on "Obama lied" is silly and counter-productive, and you reply with:

Obama lied.

Nice.

Tell me why you don't think there should be minimum standards for health insurance.

I don't know why Obama fan boys just can't admit that he lied and not spin this back to the other side. Show yourself some respect and just admit it (without caveat) instead of having your tongue so far up his ass that you can't focus on anything else but Obamalingus.

Homeboy says

Tell me why you don't think there should be minimum standards for health insurance.

I don't think the government knows what's better for me than I do.

I think people should have choices. Democrats seem very anti-choice.

Why do Democrats hate freedom?

zzyzzx says

I don't think the government knows what's better for me than I do.

I think people should have choices. Democrats seem very anti-choice.

Why do Democrats hate freedom?

So then you were happy with double-digit annual health insurance premium increases, millions who couldn't get health insurance, and illness being the number one cause of bankruptcy?

Homeboy says

zzyzzx says

I don't think the government knows what's better for me than I do.

I think people should have choices. Democrats seem very anti-choice.

Why do Democrats hate freedom?

So then you were happy with double-digit annual health insurance premium increases, millions who couldn't get health insurance, and illness being the number one cause of bankruptcy?

Caused by fat, lazy, unhealthy people on entitlements put in place by fiscal liberals

In russia there's a saying, "a cat thought too and ended up in a soup." Why would anyone ever believe any politician? Better yet, why would someone identify with them?

It's "money laundering or fuck you," America!

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

Say hey! This was in the Wall Street Journal on March 30, 1999. Note "... how much it will buy."

Holy cow/interesting/compelling ...!

And where is it up to date??? Right here ... see the first chart shown in this thread.
Recent Dow day is Tuesday, November 5, 2013 __ Level is 99.6

WOW! It is hideous that this is hidden! Is there any such "Homes, Inflation Adjusted"? Yes! This was in the New York Times on August 27, 2006:

And up to date (by me) is here:
http://patrick.net/?p=1219038&c=999083#comment-999083

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

And http://patrick.net/?p=1230886

Homeboy says

Typical right wing obstructionist bullshit. Do they offer any alternative plan
for reforming healthcare? No.

Dude - reforming our healthcare system simply was not the most urgent thing facing our country. Expecially during the height of the "Great Recession" when we had so many other important things Obama and Congress should have been focusing on.......like the economy and jobs.

Our healthcare system has flaws and needs some reform, but before Obamacare 85% of Americans had health insurance and 87% were satisfied or very satisfied with the coverage. In a country of 300+ million people, I think these numbers aren't too bad. Certainly not worth throwing the entire system on its head like we are currently seeing now.
http://www.gallup.com/poll/123149/cost-is-foremost-healthcare-issue-for-americans.aspx

You *should* know darn well that there was not a chance in hell that Obamacare would have passed even the Democrat controlled Congress if Obama was honest in telling us about the increased costs.

APOCALYPSEFUCK is Comptroller says

Cash Sales = Money Laundering Transactions

Well, that explains the high prices in Florida. Buying houses has always been a way to launder drug money in Florida. It's the blowshine state.

This is exactly why in France it is not possible - or so I was told on my recent trip there - to purchase a house "all cash".

If you're bored this afternoon, look at all the non-mortgaged transactions in your county, print them out and send them to police and bank regulators with a recommendation to investigate.

And then what? They spread your printed docs out on the floor in the shape of a pentagram and have a big gay buttsex orgy?

tatupu70 says

Reality says

tatupu70 says

Reality says

The wealth and power of a pretty young thing

Who is talking about power? I'm talking about wealth.

What is wealth but the power to get someone else to do things that you'd like done for you? The pretty young thing has plenty "asset."

lol--OK pretty girls aside. If the world works like you say it does, wouldn't it be reflected in the measurable wealth?

Why? How do you measure the power of a pretty girl, or that of a bureaucrat? How much is Obama's executive power worth in monetary terms? It's not possible to measure. It certainly is worth quite a lot to Michele's classmate from Princeton!

Because the measurable wealth inequality behaves exactly how I would predict based on the tax rates at the time.

And that would be quite irrelevant in a society where money can not buy everything . . . in most societies money can not buy everything. That makes your numerical measure worthless because it is incomplete and the ratio is not fixed for different people and different circumstances.

ThreeBays says

Reality says

That's the crux of cost-transferring. Hospitals can get away with it because most hospitals are geographical monopolies thanks to local zoning and licensing requirement.

Cost transfer is an excuse. It's price gouging. It needs to be stopped by regulation.

Of course when the hospital says it costs $10,000 for a birth and Medicare pays "only" $3,000 then the hospital will cry foul and transfer $20,000 to the private buyer. The crux is that it really costs only $1,000 to provide the service.

Exactly like I said in the quote above, the hospitals can do that because they are geographical monopolies in most places, thanks to government regulation and licensing requirement before anyone can open a hospital nowadays.

Homeboy says

the republican fixation on "Obama lied"

It's understandable: they have endured "Bbbbbooooosh lied!" being thrown at them at every turn in every discussion (no matter the topic) for the last 10 years so now they want dems to get a taste of the same medicine.

errc says

If you're bored this afternoon, look at all the non-mortgaged transactions in your county, print them out and send them to police and bank regulators with a recommendation to investigate.

And then what? They spread your printed docs out on the floor in the shape of a pentagram and have a big gay buttsex orgy?

No need for homophobic slurs while bashing our permabulls. I mean, do it if you want, it's free speech, but it's tacky.

Obama's lies are so bad - how bad are they? Well, last I heard Kenya was saying that Obama was born in America. That's how bad his lies are.

debyne says

Caused by fat, lazy, unhealthy people on entitlements put in place by fiscal liberals

Oh, o.k. - that's a perfectly reasonable position to take.

Straw Man says

It's understandable: they have endured "Bbbbbooooosh lied!" being thrown at them at every turn in every discussion (no matter the topic) for the last 10 years so now they want dems to get a taste of the same medicine.

Yes, inventing false ties to Al Qaeda and using forged documents to claim that Iraq had nuclear weapons in order to justify an armed invasion is EXACTLY the same as trying to reform healthcare.

define minimum standard for someone who is a ssocal2 says

Dude - reforming our healthcare system simply was not the most urgent thing facing our country. Expecially during the height of the "Great Recession" when we had so many other important things Obama and Congress should have been focusing on.......like the economy and jobs.

and for good reason they both should be looking into growing jobs and our industries ...
long term unemployment is at historic levels. But Obama is too busy chasing his legacy.

Call it Crazy says

Sooo... telling bold faced lies to try and "sell" your reformed healthcare law is acceptable in your eyes, right..

I didn't say it was acceptable. I said it's hardly comparable to using forged documents to falsely justify a war.

By the way, the expression is BALD faced lie, not bold faced lie.

Call it Crazy says

And the tens of thousands who are losing the plans they WANTED due to these lies is acceptable too, right??

Of course it's acceptable. Nobody is losing their health insurance. They simply have to go onto their state exchange and select a plan, which will be a BETTER plan than what they had before. Insurance companies changed their plans all the time before ACA, why is this suddenly armageddon? The plans you are referring to, that have been discontinued, were discontinued because they did not provide essential minimum coverage. In other words, they were crap.