Replies to This Discussion

Permalink Reply by Martin on July 23, 2008 at 12:52

Banking legislation that had separated the functions of Investment banks and commercial banks. Senator Phil Graham introduced legislation in 1999 (not exactly sure of year) which set this distinction aside. The SEC -- it is/was originally set up to maintain an orderly stock market and a relatively level playing field for the individual investor. It hasn't done squat for the small investor such as you or I probably are.

i will try to provide more information in the next few days. For example, the banking legislation that was set aside.

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Permalink Reply by Martin on July 23, 2008 at 12:38

Better off? There are a lot fewer of them after 7.5 years of GWB

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Permalink Reply by BLZBub on July 21, 2008 at 16:25

To make up for it, why don't you give ALL your bonus & royalties to the government... then you won't have to "get by" like the "rich"

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Permalink Reply by herefordsnshale on July 21, 2008 at 12:59

I was let go from a good paying job three years ago. I didn't whine and moan or blame anyone, I started my own business. In a little more than two years I was doing better than my old salary. I am better off now than I was four years ago and in four years I'm going to be better off than I am now! (Hefty Haynesville Shale royalties won't hurt either!!) I consider myself an individualist, that's the problem with the country today, there's not enough individualists. Too many people think it's the government's (or some corporation's) responsiblilty to take care of them. Don't get me wrong, I certainly don't want that moron Obama to win, I know there's trouble ahead if he does, his messes will have to be cleaned up, but we've survived bad presidents before. We survived LBJ, Carter, and Clinton, and we will survive him too.

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Permalink Reply by Martin on July 22, 2008 at 13:48

But will we survive GWB?

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Permalink Reply by Shelley on July 22, 2008 at 4:09

Yes i feel we are going to been in for something ..... we are self-employed and now taxes and fuel is killings us... as for as insurance. well we are ---- out of luck... my family only pays nearly 650.00 dollars a month for a family of four... we have very high ductables. Don't know if we can handle high taxes and more goverment controll.............. We just country folks trying to make a living, and the goverment is killing us.. And by the way has for as middle class, well theres two kind..... poor 1st middle class and 2nd middle class. well the 1st middle class is the one footing the billl!!!!!!!!!!!! so when all is said we are screwed. have a good day!!!

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Permalink Reply by easttexas12 on July 22, 2008 at 4:37

We are in the middle of a financial melt down in the markets, bank failures (plural), wars and rumors of wars (Iran)? Yeah, Its a GREAT IDEA to elect a 70 year old thats been in Washington for over thirty years & half his staff are lobbyist? He'll put us on the RIGHT track alright, the one we're on now.
Im a refuge' of the Republican Party. I voted for Bush 4 times, I represented several precincts at the state convention during Bush Sr's re-election campaign. Let me tell you, Bush has gutted the Republican Party. He's the Jimmy Carter of this age. McCain won't be able to overcome this high tide.

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Permalink Reply by herefordsnshale on July 22, 2008 at 10:33

You're right in a sense, the Republican Party has been gutted so to speak, but not by Bush. The Republican Party is messed up because of the so-called "moderates" in the party who won't take a stand for low taxes and limited government. Big government just seems to be the "in" thing right now with both parties. The bank problem was a disaster waiting to happen, remember all the ads a few years ago for interest only loans and adjustable rate loans with "teaser" starting rates. Obviously a lot of loans were going to be made to people who can't pay them back. I don't know why anyone was surprised when so many of those people defaulted.

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Permalink Reply by RJ on July 22, 2008 at 10:43

Have heard that the lease bonus money will be taxed at around the 40-43% range:( IS this RIGHT?? For god sakes 40%??? Anyone know what the taxes would be?? Is it added to your income or what??

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Permalink Reply by herefordsnshale on July 22, 2008 at 10:49

Lease bonuses do not fall under the capital gains tax, they are taxed as income. Yes, the rate will be 40-45%.

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Permalink Reply by RJ on July 22, 2008 at 11:28

Thanks.But if they are taxed as income 40% would be in the higher tax braket right?So one would add the bonus to their income then. So if you had an acre and only made 30-40k per year the taxes would be much less than 40%. Correct me if im wrong here.

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Permalink Reply by herefordsnshale on July 23, 2008 at 12:34

I'm not a CPA, maybe someone with more knowledge will weigh in. My guess would be you would pay somewhere between 25% and 40% of the lease bonus in taxes.

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