Ferrari Mailing List: Re: "Economics"

[Erik Nielsen (judge4re]

Sound like you need a better CPA...



On Wed, Nov 12, 2008 at 5:37 PM, Charles Perry
<charles [at] carolina-sound.com> wrote:
> Mike -
>
> When did you become such a flaming liberal? Do you need rescuing from the 
> Northeast? We will help you!!
>
> Ric is dead on with all of this. It's not the Pickens or the Buffetts that 
> are suffering from this incessant taxation - it's me! Last year, after paying 
> well into six figures in Federal taxes throughout the year, I found out in 
> April that I owed another $4,000 in Federal taxes thanks to the Alternative 
> Minimum Tax (AMT) - originally a "soak the rich" tax which is now affecting 
> millions of upper middle class families like mine.
>
> You know me - you've been to my house - you know my lifestyle. I am not 
> wallowing in money, and $4k still means a helluva lot to me. Yes, I own some 
> nice cars, but the youngest of which is 10 years old now - I'm not in the 
> "pay an extra $100k for a 599 to be first in SC" club. For me to pay that 
> incremental $4k, my company has to make an extra $10k in profit to pay that 
> to me. For that to happen, we have to sell another $40,000 in goods and 
> services. Each of the four members of my family is in the same position, so 
> our company has to sell another $160,000 in goods and services JUST TO PAY 
> THE AMT - never mind the oppressive regular tax.
>
> There are millions of small businesses that don't gross $160k in a year, let 
> alone make that just to "allow" their principles to pay AMT. Furthermore, if 
> we had that extra $40k in profit that we have to use to use for AMT to use 
> for something else, I would hire someone to reduce my 110 hour work week and 
> give me some time with my family. That would be me CREATING A JOB - just like 
> the Dems always claim to want to do. But that job will never exist because of 
> the AMT. And for every new tax that is heaped upon me because I work hard and 
> am therefore "unspeakably wealthy," that is one LESS job that I will create 
> and that much less my company can do to keep the economy moving.
>
> Worse, my parents are paying thousands of dollars a month in life insurance 
> premiums to provide a policy that will pay the Death Tax on the value of this 
> business when they die, so that the government doesn't force my brother and I 
> to sell the company that our family has worked decades to build so that the 
> Dems can give half of it to some people who chose not to build anything for 
> themselves.
>
> This is really, really, simple stuff and I KNOW you are this smart. I, for 
> one, am definitely crying...
>
> -- charles
>
>
>
> -----Original Message-----
> From: Michael James [mailto:cavallino_rapante [at] yahoo.com]
> Sent: Wednesday, November 12, 2008 2:33 PM
> To: Charles Perry
> Cc: The FerrariList
> Subject: Re: [Ferrari] Are Ferraris Losing Their Good Looks?
>
>
> For me, its a waste of bandwidth to 'come to the aid' of folks who don't seem 
> to want or need defending.  Every time I read of T.Boon Picken's exploits, 
> he's made another $100 Million, he certainly isn't looking for a shoulder to 
> cry on
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