I was scared for a moment lol. You sounded exactly like a democrat saying the govt knows better to do with our money. Thx for the clarification. You are responding to someone who blocked me too, making it a bit more unclear.
Ah the old block someone schitck. Never got that, just scroll past, to me it’s a weak way to “respond”.
Stock picking is largely based on luck. The market sets a forward looking price on a company based upon the available information. In essence, to argue that you can beat the market as a whole consistently and are not just upping your risk, you would need to argue that you know better than the market as a whole, which largely consists of extremely highly paid professional experts on specific companies and industries who spend their whole day doing this. The likelihood of that being really true for a little side money and with a bit of personal research is extremely low. Active investors rarely beat the markets when risk is taken into account.
That is just it. The inheritance tax gets very few people. And it is typically going to be the rare celebrity that for whatever reason did not pay an attorney to protect it or the family that built a business likely farming and also did not pay an attorney to protect it. If anyone thinks Warren Buffett is leaving his money to be taxed by the death tax…they are naive.
It “gets” very few people, because relatively few have an estate worth $10 or $15 million. The exemption itself is quite generous most people don’t need to do anything to avoid it (still a good idea to have a will or trust for expediency). Buffet is avoiding it through philanthropy. Seems fair to do that. But if he passed $100 billion to his kids, I see no logical reason to not tax that at the highest rate. The problem with that level of wealth is their ability to peddle influence. Do we want thousands “never worked a day in their lives” billionaires with no clue about anything except how to buy off politicians? It creates a caste system which is pretty antithetical to American ideals. I think giving it all away to charity ala Buffet is the ideal (actually goes too far in my view lol), but even if the govt taxed 50% and lit it on fire through inefficiency and spending that would be better than a caste system which can only lead to societal rot.
So you don't think that tax rates (taxes paid as a percentage of income) are relevant to a discussion about which income groups pay the highest percentage of taxes? Bless your heart. And I've had many of these discussions with you RWs over the years and you always only want to focus on federal income taxes. When anyone brings up the entire tax picture you always start screaming that we are only talking about federal income taxes. So predictable and so intellectually dishonest. But I'll continue to talk about all taxes in any discussion of tax fairness. Deal with it or scurry off.
With you, I'm sure it's all based on luck. What are some of the individual stocks you own and when did you buy them?
Yeah I don't block too many people, but I had to with O&B because he was stalking me. He would bring me up in threads I hadn't even posted in. Creepy.
That's because the ultra wealthy have gamed the system so they don't have to pay their fair share of taxes. We need to change the inheritance tax so that it 'gets' more people.
It's funny to see a PA act like he's some sort of expert on stocks. A lot of true experts can't consistently beat the S&P but PA can. Yeah right.
I won’t “scurry off”, the discussion was about who pay the most FEDERAL INCOME taxes. This was in response to talk of increasing those taxes because the idea that the rich don’t pay their fair share of federal income taxes. When it’s pointed out that the top % of earners pay (depending upon the source and year) 42+% of FEDERAL INCOME TAXES, the usual suspects like to change the discussion to include “all taxes”. Based on whole numbers those evil rich still pay the largest amount in dollars. You suggested that wasn’t true and were proven wrong so you changed the discussion. Only when the metric gets changed to a % of income does it seem to change. I say that because which group of taxpayers has a higher % of unreported income? The rich guy or the lower bracket people who work under the table, off the books or get paid in cash and never report that income? I’ve seen those posts before and some even try to say the rent is paying the property taxes to make it appear they pay more than they really do. Sorry you don’t like the facts the wealth envy is showing.
Anyone who dismisses stock picking as luck is not one who should be in the market. Or at least should let someone else pick their stocks. Never said I’m an expert anywhere.
I’ll be happy to PM you some screen shots later. Some buys in the last 18 months, AMD, MRVL, ALT, VKTX. Did a 36 trade on PRTA Longer term buy I got GE in the $6-7 range. BA at $140 a few years back. Your tone is really quite rude considering you really don’t know much about anyone on these boards and what expertise they may or may not have, just be nice to be all knowing…
Well let's use you and Jeff Bezos as an example. How much in (total) taxes did you pay last year and what is your net worth. Then we can do the same for Bezos and compare the percentages. Then we can come up with a rate that we think is fair to both of you.
I think what we both paid is fair. If you don't think what Bezo's paid is fair, how much should his tax rates have been increased to make it fair?
Concentrated bets make wealth; diversification preserves that wealth. Whether it be stocks, a business, crypto, whatever. I’ve seen plenty of people make 100x on concentrated bets. The trick is then whether they are willing to diversify out of those bets. The fear actually isn’t the taxation usually but the “missing out” of additional gains.
It is no different than betting on sports. Sure, I might know that Florida is likely to beat St. Mary's in baseball, but the market also recognizes that likelihood and prices accordingly. Similarly, I might be able to predict that one firm will make more money in the future than a competitor. But, if I am correct on that, the market has already priced that as well. The way to make money stock picking is to know more than the entire market about a firm. Here is the secret: very few people actually do. You have to either just substitute risk to chase returns or outsmart a huge quantity of experts. https://www.cnbc.com/2020/09/18/stock-picking-has-a-terrible-track-record-and-its-getting-worse.html
Wow, since all of your deals make so much money, you really should get hundreds of millions of dollars in investments (at least, maybe find billions). You should be able to increase your wealth considerably by doing that. It shouldn't be a problem convincing people to invest with you as well. Look how much money they could make.
