Posted by Leonard Steinberg on April 16th, 2012 As politicians blabber about the Buffet Rule and taxation fairness, I thought a recent Wall Street Journal article outlined the ‘non-soundbite’ version of what is really going on tax-wise in the USA. The only conclusion I can draw is that the system is much too complicated. Here are… [Read More]
BANKS POISED FOR DISMAL FOURTH QUARTER RESULTS: BAD FOR NEW YORK?
Posted by Leonard Steinberg on January 7th, 2012 Banks will start posting results for the fourth quarter and year end starting next week, and the results are poised to be weak. Weak results result in many things, so here is my evaluation: 1) Bonuses will probably be down rather sharply from last year, I… [Read More]
THE 'TAXES' THAT, IF REDUCED, COULD BOOST OUR ECONOMY MORE THAN ANY OTHER
Posted by Leonard Steinberg on December 21st, 2011 There are certain essential expenses that Americans incur that are a form of taxation…..Here are two examples: GAS: The average American spends over $ 4,100/year on gasoline…..thats over 8% of their income! Now thats quite a tax. Gas prices are artificially high because of OPEC’s ability to… [Read More]
THE LANDLORDS ARE WINNING.
Posted by Leonard Steinberg on December 4th, 2011 We have read the headlines about how rents keep rising, in some areas rather dramatically, and now word that Sam Zell’s Equity is about to buy a 26,5% stake in Archstone, both two of the US’s largest owners of some 200,000 rental apartments. So why would Equity… [Read More]
LEONA HELMSLEY LIVES! THE NOUVEAU LITTLE PEOPLE PAY TAXES
Posted by Leonard Steinberg on March 30th, 2011 OIl companies scream DRILL BABY DRILL, as it will be good for the USA, create jobs, generate tax revenues, yet Transocean denounces their USA ownership status, moves to Switzerland, and avoids $ 2 billion in taxes. 35% corporate tax rates are amongst the highest in the world,… [Read More]
RENTS ARE TOO DAMN HIGH? MIDDLE CLASS IS THE NEW POOR (IN NEW YORK)!
Rents in New York, Los Angeles and Washington D.C. average $2,090 and are among the highest in the nation, running as much as 218% higher than in other major metro areas, according to Movoto.com, which tracks sales and rental prices in the 40 largest U.S. cities. “This fact is common knowledge throughout our dear land and… [Read More]
RUSH LIMBAUGH SELLS NEW YORK APARTMENT
A year after railing about the high tax burden on wealthy New Yorkers, Rush Limbaugh, the super-rich conservative radio talk-show host has sold his Liberace-meets-Ivana-Trump-meets-Donatella Versace Fifth Avenue penthouse to an undisclosed buyer. Mr. Limbaugh’s 10-room condominium, which features a 30-foot-wide living room with fireplace and four terraces overlooking Central Park at East 86th Street,… [Read More]
FEDERAL TAXATION STUPIDITY – IT GETS WORSE IN 2013!
Is the Federal Government blind, stupid, or worse, thoroughly corrupt? I suspect its all three. Why on earth do federal taxes make absolutely ZERO accounting for the cost-of-living in various cities? Is it accurate that $ 250,000.00 earned in Manhattan is the equivilant of earning $ 250,000.00 in Tulsa, Oklahoma or Albany, New York? NO!… [Read More]
BARCLAYS PROFITS DOUBLE: IS THIS GOOD NEWS?
Barclay’s announced its profits doubled! The world is alarmed! Nothing about this alarms me…. Think about the market share Barclay’s picked up when they took over Lehman, buying out the company at a bargain price. Think about the money made as the world population increased their savings in the past 12 months, while Barclay’s… [Read More]