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

[Larry B (larrybard]

I believe what this refers to is that there are certain IRS restrictions on the 
ability of companies to make use of net operating losses when there is a change 
of control, and the government's takeover of Fannie and Freddie would be deemed 
such changes of control. In these special cases, however, the IRS will permit 
the entities to retain their NOLs.> From: philville [at] dejazzd.com> Date: 
Fri, 14 Nov 2008 15:50:06 -0500> Subject: [Ferrari] [No Ferrari] "Economics" un 
founded rumor department alert.> CC: ferrari [at] ferrarilist.com> To: 
larrybard [at] hotmail.com> > > 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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http://www.F1Headlines.com/> Philip "Phil" Tegtmeier> 39 Churchill Drive> 
Elverson Pa 19520> 610.525.8949> And, go to: ... www.PhilvilleUSA.com