Gold over $1700 again~ Silver touching $33/oz!

Net effect of globalization middle class has to now compete with growing middle class in emerging countries when the worker pool is increasing wages can't really go up. Also it our education system is too subsidized with priority given to college degree rather than what merit this degree has. Speaking of this amount of young well educated adults coming from other regions' is set to explode in coming year, in other hand amount of US citizen graduates for Engineering and medical fields is at all time lows.

Yes there are few living off income from welfare, food stamps, schooling etc from US government but i think population paying zero taxes is relatively small. Problem is there is currently too many loop holes and tax credits which need to be closed off and move towards a more flat tax system which both parties oppose.

 

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Know what a cool loophole is? Because I work at home, I was able to get a 2 bedroom condo instead of a 1 bedroom, and I can write off the 20% of my rent because that second bedroom constitutes 20% of the square footage of the condo.

I essentially got an office to work in at home for free. Silly BS our government should NOT be paying for. I also disagree with writeoffs for charitable donations... it's charity, not government-subsidized giving. I disagree with 15% tax on dividends (and dividends will constitute almost 20% of my income this year!) and think it should be more like 30%. There's no reason why dividends (which mostly go to the wealthy) should only be taxed at 15%.

 

I don't think it's fair for the more wealthy pay a higher percentage of taxes, but I also don't think it's fair for corporations to get tax breaks. Put some tariffs in place and if they want to go overseas let em. The system robs from everybody except for the ultra rich who get to print the money. They just pit us against each other so we end up like crabs in a basket, pulling someone else down to get a leg up, but nobody escapes. Personally I am all for higher taxes, with the contingency that they go toward infrastructure and government jobs that are in no way affiliated with social programs which I do not like my taxes being spent on. I only have a problem with wealth transfer or applying the rules unfairly. I don't want a free handout, and I don't want to be forced into charity by the government. I'll do that on my own as I see fit, but being voluntold isn't the way it should be.

 

OK guys and gal, the last page or more has been on politics and not on the OP. Nothing mentioned has changed the basis for PM in the last 3 weeks.

Continuation will close the threads and may produce bad effects.
Thanks.

Jim

 

Did you know that money from which the dividends come from has already been taxed at about 35% plus state taxes. Lets say 45%, (since I am from MN), has already been taxed from this profit. Now there is 55% of the profit left. They distribute this as stock dividends. Now, even at the "low" rate of 15%, with state taxes, (again, since I am from MN), 25% is taken away. This means the government has taken 45+(55*.25)=58.75% of this profit in taxes. So, how high is high enough for you? You want the government to take 70%, 80%? What would be "fair"?

Edit, sorry Jim, our posts crossed. I will not post any more.

 

Problem is, very few corporations pay tax rates anything near that.

EDIT: Removed political stuff here... Didn't see the mod warning up there.


Aaaaanyways...

Silver hasn't moved much since that spike 3 (trading) days ago or so. Does anybody have access to see what the bids/asks above and under spot are? Wondering where resistance is building stronger ahead of BB's Friday presumptive announcement of QE3.

Could be a case of buy the rumor, sell the news.

 

Well, back to the subject at hand. Gold will rise on and off until the end of the year and will end up higher than it is now. Not much else to say about it. So I guess I'll go back to my summer vacation and work on getting ready for the fall vacation.

 

Silver and gold will continue to rise until late November when I plan to attend a big show around these parts. The prices will peak the day I buy and then plummet immediately, probably seconds after I make my purchases.

 

If you did it right, you could have been getting hammered and driving a fly whip and still done all those things. You did it wrong.