Ferrari Mailing List: [No Ferrari] "Economics" un founded rumor department alert.

[philville dejazzd.com (philville]

   This is with no knowledge of accuracy or basis of fact, but I heard
   this morning ( from an intelligent source) tha H. Paulson has ram
   rodded through a law or bill that allows any financial entity who
   purchases or has purchased a failing financial entity to use the
   losses of that failing entity as a tax benefit.

   It seems to me that some one is being screwed out of some thin here,
   but I am not sure who....I am fairly certain that it is not Paulson

   The way I see it is that if you generate horrendous liabilities which
   you can not service so you sell your self to me at a discount price
   because of these liabilities which never get paid because they are
   alredy "losses" and then the Fed. allows me to write off the losses
   for which I have not paid....sounds good to me ....don't we have the
   collective brain power to turn this into some form of business
   venture  hmmmm is Milken on our mailing??
   ----- Original Message -----
   From: Michael James <cavallino_rapante [at] yahoo.com>
   Date: Thursday, November 13, 2008 8:28 pm
   Subject: Re: [Ferrari] "Economics"
   To: Phil Tegtmeier <philville [at] dejazzd.com>
   Cc: The FerrariList <ferrari [at] ferrarilist.com>
   >
   >
   > Hey, Hey!  I'm a centrist at worst - I've seen both sides of
   > this political fence, and trust me there are way too many purple-
   > haired liberals up here in MA to shove the likes of me within
   > arm's length of Limbaugh himself.  I'm just not 'buying' into
   > the sky-is-falling on the high-wage-earner crowd.
   >
   > The sky is falling on EVERYONE regardless of social class.  If a
   > rising tide floats all boats, a lowering tide will sink all of
   > them, too.  This isn't a time for our weathiest Americans to
   > think they're being 'picked-on'....to me, that's just plain
   > silly.  Who amongst us is weeping for the disappearing middle
   > class?  Or am I to believe that they are unaffected by all
   > this?  Anyone on FList lose their house lately?  Or do they not
   > matter in Ric's economic model, since he may not be one of
   > them?  I'm very sorry if the salaried-employees of the world
   > (myself included) are not fit to sit at his table.  Last time I
   > checked, I've paid into the system FAR more than I've ever
   > gotten out of it, if anything.  Ric wants to rant and rave about
   > 'social welfare programs' all he wants to, he's dancing around
   > what its really called:  Social Security.  That ticking time
   > bomb created because all americans are living longer than the
   > benefit was anticipated to
   >  cover.  That is not a Marxist conspiracy.  Thanks to the
   > advances of healthcare, proper diet, exercise, and all that,
   > people are living well into their 90s, and continuing to draw
   > that social benefit - which is only going to get larger and
   > larger and larger (he's right about all that).  He's also right
   > that its one of the Govt.'s largest financial expenditures.  But
   > he's wrong to point a finger at ME about it.  I'm not a Baby
   > Boomer, remember?  I don't draw a Social Security check.  Never
   > have, and probably never will.  My grandmother does,
   > though....she's 86.  My great-grandmother does, she's 103 - yes,
   > One Hundred Three.  Blame them for your higher taxes, if you
   > must - their only crime is they haven't died yet.  I'll let them
   > all know Ric is cheering for their early demise.
   >
   > That social program that Ric is going ballistic over isn't a
   > 'class' issue - wanna cut Social Security?  Medicare/Medicade?
   > Go NUTS!  Be my guest, I'm pretty sure it won't be around when
   > I'm old enough to use it anyway.  Feel free to eliminate Social
   > Security.  Seriously.  I guarantee you that will eliminate a
   > serious financial crisis our nation faces.  Consequences be
   > damned.  Lets figure-out how to get rid of all these 'old
   > people' first, though.  Make sure everyone 'expires' on the
   > morning of their 68th birthday - past that, and they're dipping
   > into the SS money-trough deeper than what they originally put
   > into the SS system.
   >
   > I don't think its unreasonable to understand that our Govt. has
   > been spending a ton of money on things that it can no longer
   > afford.  I'm fairly pragmatic about this.  I am employed by a
   > Defense Contractor, I know where my bread is buttered, but we as
   > a company have lost money so Uncle Sam could divert more and
   > more funds to support the war effort.  I'm up here in MA
   > building Warships for the US Navy, but we're running a skeleton
   > crew and barely able to keep the lights on.  How much extra have
   > all of you kicked-in to pay for the war you all supported so
   > much?  Yea, I thought so...lets all pack our bags and move to
   > Guatemala.  I don't understand this philosophy.  For the
   > past seven years, the USA has undertaken a great campaign
   > against Global Terrorism, and wrung-up a huge tab to provide for
   > our nation's security.  The Govt., as a result, has gotten
   > larger in-response to this threat.  This was seen, seven years
   > ago, as a necessity to
   >  chase and defend against Bin Ladin and his ilk.  We-the-
   > People were all on-board with this plan then...The bill for
   > all of this will be paid......when???
   >
   > Love to all,
   >
   > Michael
   >
   >
   >
   > --- On Wed, 11/12/08, Charles Perry <charles [at] carolina-
   > sound.com> wrote:
   >
   > From: Charles Perry <charles [at] carolina-sound.com>
   > Subject: RE: [Ferrari] "Economics"
   > To: cavallino_rapante [at] yahoo.com
   > Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
   > Date: Wednesday, November 12, 2008, 6:37 PM
   >
   > 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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   Philip "Phil" Tegtmeier
   39 Churchill Drive
   Elverson Pa 19520
   610.525.8949
   And, go to: ... www.PhilvilleUSA.com