What Irked You Today?

[Harry P.]

Harry, I'm no expert, but if your account lost value, don't you have some capital losses in that same account that would offset the capital gains?

The way it was explained to me, even though the account as a whole lost value, there were certain segments of it that actually increased in value... so I owe cap gains tax on the parts of the account that grew. Makes no sense to me at all.

[Crazy Ed]

   Harry, I'm guessing those gains were on Stocks that were sold and the funds were used to buy other Stocks. Those Gains are Taxable. But unrealised Loss's as unsold Stocks can't be claimed until they are sold at a loss.

[crazyjim]

We have AARP do our taxes.  They do it for free and we usually get a refund.

[Harry P.]

   Harry, I'm guessing those gains were on Stocks that were sold and the funds were used to buy other Stocks. Those Gains are Taxable. But unrealised Loss's as unsold Stocks can't be claimed until they are sold at a loss.

Yeah, I guess that's the way it works. I trust my investment guy/CPA... I'm sure he knows what he's doing. I was just flabbergasted when it turned out I owed cap gains taxes on an account that had lost value overall.

[Harry P.]

We have AARP do our taxes.  They do it for free and we usually get a refund.

If you're getting a refund, that means you're being overtaxed throughout the year... instead of you keeping your money, Uncle Sam is taking it and investing it throughout the year, instead of you keeping it and investing it on your behalf... then you get a "refund" because the government was taking too much from you throughout the year. My CPA told me that at tax time, the closer you are to "0" when it comes to how much you owe/how much you get back, the better.

[crazyjim]

Zero is always the plan, but getting back a couple hundred feels good.  Besides, the USA could use the money.

[Harry P.]

Zero is always the plan, but getting back a couple hundred feels good.  Besides, the USA could use the money.

But if you had invested that couple hundred, at the end of the year you would have been ahead. Instead, you basically loaned the government money.

[crazyjim]

Yes and that's OK with us.

[Harry P.]

Yes and that's OK with us.

Uncle Sam must love you!

[Crazy Ed]

   The FedEx Dummy just tied a package to our Fence rather that "Deliver" it, AGAIN. I've been telling EVERY new Driver I get a chance to speak to NOT to do that. Heck have any of you retrieved a package that's in a plastic bag that a Cow has gnawed on? I have............

[cobraman]

It's funny that sometimes we can get back a few hundred bucks and feel good. We seem to forget the several thousands we paid and did not get back. : )

[Crazy Ed]

   The other thing about a Tax Refund is it's just like those Old Christmas Accounts we used to have in Grade School. The Banks would hold your Money  All Year so you'd save it and not spend it, and in return for that they'd pay you ZERO interest.

[Harry P.]

...and in return for that they'd pay you ZERO interest.

Exactly. You're lending the government a loan at zero interest. Not my idea of a good deal.

[Tom Geiger]

It's funny that sometimes we can get back a few hundred bucks and feel good. We seem to forget the several thousands we paid and did not get back. : )

No that's FREE MONEY!  It's a gift from the government !   At least that's how some idiots blow through it!   

 

[High octane]

What irks me to no end and it just doesn't seem to stop, is the way our auto industry has changed over the last several years and is part of the "global economy." Our auto makers are continually moving their plants to other countries, leaving the skilled American workers without jobs and standing in the unemployment lines. It's no wonder that Detroit filled for bankruptcy after what our auto makers havevdone to that city. And it's not only the auto makers but other companies too. It's sad news for today's working force.

[cobraman]

Truer words were never spoken.

[Slomoslam]

Exactly. You're lending the government a loan at zero interest. Not my idea of a good deal.

The gov has done a masterful job on getting some people to believe they've been given something in the form of a refund.  If you gave your bank $1,000 and they returned the same amount a year later you'd be throwing bricks through their windows. I guess when it's the government, we're just shocked they didn't steal all of it.

[cowboy rich]

What irked me today!! Haggard died. And in my opinion so did country music.

Rich

[Ace-Garageguy]

What irks me to no end and it just doesn't seem to stop, is the way our auto industry has changed over the last several years and is part of the "global economy." Our auto makers are continually moving their plants to other countries, leaving the skilled American workers without jobs and standing in the unemployment lines. It's no wonder that Detroit filled for bankruptcy after what our auto makers havevdone to that city. And it's not only the auto makers but other companies too. It's sad news for today's working force.

Ah yes...remember when ol' Henry Ford thought it might be nice to pay his workers enough so they could afford to buy the cars they were building? One of the things that really started the US industrial economy humming, which in turn helped to give America the highest standard of living on the planet...and to develop the production capability sufficient to supply the victors of two world wars.

How totally obsolete.    

Now the bloodless CYA bean-counters define "good business" as cutting the last nickel out of the cost of every product, sourcing production in China, and cutting the heart out of the American economy in the process.

The world IS run by short-sighted idiots who fail to understand how things are interrelated.

Edited April 7, 2016 by Ace-Garageguy

[Tom Geiger]

Ah yes...remember when ol' Henry Ford thought it might be nice to pay his workers enough so they could afford to buy the cars they were building? One of the things that really started the US industrial economy humming, which in turn helped to give America the highest standard of living on the planet...and to develop the production capability sufficient to supply the victors of two world wars.

How totally obsolete.    

Now the bloodless CYA bean-counters define "good business" as cutting the last nickel out of the cost of every product, sourcing production in China, and cutting the heart out of the American economy in the process.

The world IS run by short-sighted idiots who fail to understand how things are interrelated.

Yes, ole Henry recognized that if you wanted to sell a ton of cars you needed to create a middle class. And the principle that people would work with more pride if they could own the product they made.    And a funny thing happened on the way to the bank... Ford actually made money by paying people MORE.   It was discovered that the savings that came from the hire / train / lose employee cycle was eliminated.  

[Tom Geiger]

What has irked me the past few weeks....   The first 20 miles I travel to work on the Pennsylvania Turnpike is a four lane divided highway... two lanes each way.  On a good day, traffic runs 75-80 mph.  Lately, it's been clogged by slow moving trucks.  There's nothing like a 50-55 mph procession behind two tractor trailers, running side by side.  

[Harry P.]

Regarding Detroit and the auto industry...

Keep in mind that Detroit has been governed by crooks for many years, and that has nothing to do with the auto industry. Corrupt politicians who were badly mismanaging–even literally stealing–public funds played a big part in Detroit's collapse. I know what I'm talking about, because the same exact scenario is playing out here in Chicago.

[Harry P.]

What has irked me the past few weeks....   The first 20 miles I travel to work on the Pennsylvania Turnpike is a four lane divided highway... two lanes each way.  On a good day, traffic runs 75-80 mph.  Lately, it's been clogged by slow moving trucks.  There's nothing like a 50-55 mph procession behind two tractor trailers, running side by side.  

Nothing burns me more than two semis rolling along side by side, holding up everyone behind them. They are supposed to stay in one lane, unless passing. You'd think that "professional" drivers would know better.

[Agent G]

Regarding Detroit and the auto industry...

Keep in mind that Detroit has been governed by crooks for many years, and that has nothing to do with the auto industry. Corrupt politicians who were badly mismanaging–even literally stealing–public funds played a big part in Detroit's collapse. I know what I'm talking about, because the same exact scenario is playing out here in Chicago.

St Louis as well. The tried and true police headquarters building was suddenly "condemned" by city inspectors a few years after I retired. A nice vacant office building was offered at a bargain price. Turns out the old building sits on prime real estate, and the new building was an albatross around the owners neck. Win-win for silly hall and everyone's brothers in law.

G

[Harry P.]

Yet another example of the wretched state Illinois is in, thanks to our politicians...

Used to be that you would get a renewal form in the mail when your license plate sticker was close to expiration. You signed the form, enclosed your check, and mailed it off to Springfield... and a week or two later your new sticker came in the mail. Simple, painless.

Well, because of the state's budget crisis (caused entirely by the state's corrupt and inept politicians), the Secretary of State's office no longer mails out those renewal forms, in order to save a few bucks. So now the onus is on the driver to know when his sticker is up for renewal.

They never told us of this change... never a word about how the driver now has to keep tabs on his renewal date and buy the new sticker. So you can guess what happened. Millions of people, who had relied on the mailed renewal forms all these years, suddenly were caught with expired license plates! And you know what comes next... Illinois has collected a record amount of overdue license fines, due to people simply not realizing that they are no longer getting their renewals in the mail.