Derby Trail Forums

Go Back   Derby Trail Forums > The Steve Dellinger Discourse Den
Register FAQ Members List Calendar Today's Posts

Reply
 
Thread Tools Display Modes
  #1  
Old 03-18-2009, 12:00 PM
ARyan's Avatar
ARyan ARyan is offline
Woodbine
 
Join Date: Jun 2006
Location: Upstate, NY
Posts: 1,010
Default New IRS rules offer relief for Madoff victims

http://www.boston.com/business/artic...adoff_victims/


What a joke...
Reply With Quote
  #2  
Old 03-18-2009, 12:18 PM
GBBob GBBob is offline
Hialeah Park
 
Join Date: Jun 2007
Posts: 6,341
Default

Quote:
Originally Posted by ARyan
Why is that a joke? They paid taxes on profits that weren't real and monies that never existed.
Reply With Quote
  #3  
Old 03-18-2009, 12:23 PM
Danzig Danzig is offline
Dee Tee Stables
 
Join Date: May 2006
Location: The Natural State
Posts: 29,939
Default

i suppose that since 401k's are untaxed while invested, you can't claim any losses?
__________________
Books serve to show a man that those original thoughts of his aren't very new at all.
Abraham Lincoln
Reply With Quote
  #4  
Old 03-18-2009, 12:31 PM
ARyan's Avatar
ARyan ARyan is offline
Woodbine
 
Join Date: Jun 2006
Location: Upstate, NY
Posts: 1,010
Default

Quote:
Originally Posted by GBBob
Why is that a joke? They paid taxes on profits that weren't real and monies that never existed.
Seriously, you do not get why this is completely ridiculous?
Reply With Quote
  #5  
Old 03-18-2009, 12:49 PM
gales0678 gales0678 is offline
Oriental Park
 
Join Date: May 2006
Location: new york
Posts: 3,670
Default

let's say i gave madoff 100k and he simply passed on the 100k to bob in yr 1

bob takes my 100 k pays takes on 35% so he gets 65K - the govt has to give him back the 35 k , because it is now found out that it was not income., it's a simple as that

don't forget , the clawback rule may require bob to give back 100k to the trustee because the 100k is someone else $$ , so he really may not be getting a refund
Reply With Quote
  #6  
Old 03-18-2009, 12:55 PM
GBBob GBBob is offline
Hialeah Park
 
Join Date: Jun 2007
Posts: 6,341
Default

Quote:
Originally Posted by ARyan
Seriously, you do not get why this is completely ridiculous?
Honestly...and maybe I'm missing something, but I don't. I'm not even sure you think it's "ridiculous" because it doesn't go far enough to help the victims or because you think they should have no tax relief at all, even though a similar rule has always been on the books.
Reply With Quote
  #7  
Old 03-18-2009, 01:25 PM
philcski's Avatar
philcski philcski is offline
Goodwood
 
Join Date: Jun 2006
Location: Mission Viejo, CA
Posts: 8,872
Default

Quote:
Originally Posted by ARyan
how is this a joke?
__________________
please use generalizations and non-truths when arguing your side, thank you
Reply With Quote
  #8  
Old 03-18-2009, 01:49 PM
The Indomitable DrugS's Avatar
The Indomitable DrugS The Indomitable DrugS is offline
Flemington
 
Join Date: Dec 2006
Posts: 11,007
Default

Anyone who invested with Bernie should get pies thrown on them on top of none of the money they lost back.

The guy showed something like just two monthly losses in 30 years. Just an impossible silly record. Even Sumitas could have probably concluding the guy was a fraud if he examined his past record close enough. Who needs proof of wrongdoing when commen sense says that no one can do that on the legit?

There's an old saying around here ... "what's the difference between the Big 10 and the SEC?" ... "one group still has teeth and doesn't routinely take forays into there siblings genitals ... and the other is in the South East."

The Securites and Exchange Commish might not be guilty of the crime of weak non-conference scheduling - but it's pretty obvious they take forays into the genitals of Wall Street elite and are disgustingly pro big business - pro fat cat. Why do they even exist again?
Reply With Quote
  #9  
Old 03-18-2009, 02:14 PM
declansharbor's Avatar
declansharbor declansharbor is offline
Hialeah Park
 
Join Date: Jun 2006
Location: Exit 30
Posts: 6,357
Default

Quote:
Originally Posted by ARyan
Seriously, you do not get why this is completely ridiculous?
I'm not sure that I do either. Do you think they should treat it as 'ordinary investment losses'?

Some of the investors are at fault for stretching themselves thin in this one particular investment, rather than spreading their monies around.
__________________
"A person who saw no important difference between the fire outside a Neandrathal's cave and a working thermo-nuclear reactor might tell you that junk bonds and derivatives BOTH serve to energize capital"

- Nathan Israel
Reply With Quote
  #10  
Old 03-18-2009, 02:28 PM
The Indomitable DrugS's Avatar
The Indomitable DrugS The Indomitable DrugS is offline
Flemington
 
Join Date: Dec 2006
Posts: 11,007
Default

Quote:
Originally Posted by declansharbor
Some of the investors are at fault for stretching themselves thin in this one particular investment, rather than spreading their monies around.
At fault for stretching themselves thin? WTF?

If you're dumb enough to believe that the guy isn't a fraud because of his dazzling record over 30 years .. you'd have to be a complete idiot to have any investment anywhere else.
Reply With Quote
  #11  
Old 03-18-2009, 10:52 PM
Cannon Shell's Avatar
Cannon Shell Cannon Shell is offline
Sha Tin
 
Join Date: Aug 2006
Posts: 20,855
Default

The IRS showing compassion is a positive step regardless of who it is aimed at.
Reply With Quote
  #12  
Old 03-18-2009, 11:05 PM
pgardn
 
Posts: n/a
Default

Quote:
Originally Posted by The Indomitable DrugS
At fault for stretching themselves thin? WTF?

If you're dumb enough to believe that the guy isn't a fraud because of his dazzling record over 30 years .. you'd have to be a complete idiot to have any investment anywhere else.
Some of the charities... it is a sad thing.
The private investors that hardly ever saw a lose
probably thought he was doing some sort of
insider trading and could have been very greedy.
They had to think something was amiss.

Or... yes.
I guess they could have been plain stupid.
Reply With Quote
  #13  
Old 03-19-2009, 12:00 AM
Coach Pants
 
Posts: n/a
Default

F.uck those rich dumb f.ucks.
Reply With Quote
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 06:56 PM.


Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.