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Real Truth

Member since: Oct 21st, 2006

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Recent Comments:

Steelers' Coaching Departures May Become an Exodous (Fanhouse NFL Blog)

Jan 15th 2010 2:07PM Good Lord, JJ. If you can't spell EXODUS don't use it in a headline.

Glenn Beck Set to Lose on His New Canaan Home - Not That He Needs the Money (Shelterpop)

Dec 21st 2009 1:58AM Brooke:

You have a problem with math. A $250,000 writedown is 6%. Far better than the usual home sale. It's one part in 17.

McCain Wonders If the Rich Need More Money (News Campus Blog)

Oct 16th 2008 2:40AM This probably is a worn out fact, but the top 1% of income folks in the country pay 40% of the Federal Income Taxes. The bottom 50% pay 3% of the Federal Income Taxes. The top 1.35 million filers pay 13 times as much as the bottom 67.5 million filers.

How much do you want? Did a poor man ever offer you a job? I employ 40+ people and pay them well. How many do you support?

Two-thirds of corporations pay no income tax... Let's increase that number! (WalletPop)

Aug 16th 2008 3:51AM Tracy:

This GAO study is very misleading. They include Sub-S and LLC corporations. They average reader does not understand K1s and the flow to 1040s instead of 1120s. 50%

The Richest 1% (Politics Daily)

Jul 24th 2008 5:34PM This is a multipart diatribe from a 1%er. Read it all carefully.
I am way up in the 1% group. How did I get there? In high school, while 2/3 of the kids around me were screwing off, I studied. In college, while 2/3 of the kids were screwing off and partying, I studied.
When I graduated after eight years (5 in graduate school) I owed $7000 in student loans, equivalent to $100,000+ today, I paid it off in two years. Pretty tough on a salary of $10,000 and $18,000 for those two years.
How? Ny wife sewed her own maternity clothes. We never took a vacation. We had one small car. We never ate out. We had one small, used TV. And two kids. Priority number one was to pay off that debt.
After two years, I started a very small electronics company. I had $600 to my name.
We U-Hauled our pitiful stuff to Connecticut where the company was set up. After five years of 100 hour weeks, sales reached $4 million.
I started another computer company after that, but it's not important in this discussion. With the money I earned and kept earning, I funded startup companies for people I respected whom I had met along the way. Those worked out.
The companies I have started or funded employ more than 1000 people today, each of whom is making a robust salary and supporting their families well.
Fair share? I pay more than 35% of my gross income in taxes of one sort or another. I pay more taxes than 500 families in the bottom 50%.
Do I feel sorry for the bottom 50%? Retired/fixed income and just making it...yes. Disabled and just making it...yes. The rest...in general, no.
There is a guy outside right now repairing a fence. As is common with handymen, he is paid $30/hour. I just got a call from the guy who maintains my pool. He spends about four hours per month, and gets paid $125/month. He knows his stuff and has over 50 regular customers. About $72,000 annually.
Yesterday, an appliance repair specialist spent two hours fixing my freezer. He got $215.
So, if you'd get your fat ass off your couch and learn something useful, you could easily earn $60,000 per year. Appliance repair, high level pool maintenance, welding, HVAC, electrician, plumber, bookkeeper, house cleaning (mine gets $25/hour), carpentry, cabinetmaking, auto repair, computer maintenance, computer programming, and on and on.
The government doesn't owe you anything. I don't owe you anything. But I am happy to pay you well if you know something useful and are reliable.
You have life, liberty and the pursuit (not guarantee) of happiness. Stop whining and pursue it.

Oil on ice (BloggingStocks)

Jul 24th 2008 2:30PM It is this kind of shallow reporting that misinforms so many. If the estimate of recoverable crude in the Arctic were true...none could be produced before 2018 and full extraction would be spread over a 20 year reservoir life.

So let's make that 4.5 billion per year recovered from 2018-2039. That's 4,500 million barrels per year, or 12.3 million barrels per day, compared to the world's today (not 2018) usage of 85 million barrels per day. Five percent.

The High-Definition Low Down (Shopping Articles Blog)

Jun 6th 2008 2:57PM Typo. The LG is 42"

The High-Definition Low Down (Shopping Articles Blog)

Jun 6th 2008 2:55PM Way out of date on prices. I just bought an LG 47" high def for $920 and a 50" Panasonic for $1500. From the internet.

The Ala Carting of Video on the Net - Will it lead to disaster ? (Blog Maverick)

May 24th 2008 5:53PM I'm sure you know DirecTV has effectively removed UHD, by charging $4.99/month for it and a few other HD channels no longer included in its "HD" package.

It's a shame. Fortunately, HDNET is still included.

Letting the house go: Am I making the right decision? (WalletPop)

Mar 18th 2008 2:19PM Good decision. I hope I helped.