dream_weasel

Is red lobster run by sovcits? Was the article written by sovcits? Where are the sovcits, Mr Bones?!

I have been to some nice places for seafood, but in my city there's only red lobster if you need a crab fix. It does the job, but it's getting pricey for what you get.

Sorry I guess then I don't understand the distinction you're making? It's not as though stocks are not liquid (or that margin loans are not) or that stocks are all funny money. I suppose if the tax rate was so exorbitant that selling stock would tank the share prices these ultra wealthy folks are holding them I see your point. I don't think these numbers are that high though.

I agree if you're saying that the cash-out net worth of these people is lower than their market valuations, but I doubt that it's so much lower that they are no longer ultra rich. Besides, stocks are still assets to borrow against which is how the game is played at that level, so while the number is "fake" it's also kinda not.

NBD, I saw this first actually.

True fact. That said, where I live A10s fly out of Grissom AFB still all the time.

Cards... Yes...

And my axe!

Yeah it's taxed at a much lower rate. Short term capital gains is a real bitch. Long term isn't so bad unless you're liquidating a lot... Like enough to buy a house or car or something we are discussing now. Over 450k ish is taxed 20%, but you can get a margin loan for 3 to 12 percent AND it's tax deductible lol.

Really, if you aren't rich with stock you are getting F-ed in the A...

Well, if you take the current US "budget" as $4T per year, it's a bit over $10B per day. So yeah it runs for more than a day.

Of course, this should be treated the same way as if you were to lose your job: you probably cut your expenses so as not to spend all your money in the first 2 weeks. Maybe the US would finally stop paying for tanks the army doesn't want?

You're mostly right here, except stocks are an asset you can take a loan against with a margin loan or a line of credit. I suggest if you are doing that it SHOULD count as realized gains because you absolutely can use such a loan to buy a house, a car, a yacht, an island in the South Pacific, or an aircraft carrier.

Or at least the same number of numbers.

That definitely looks like a guy who would have ploopy open source headphones.