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MrRodgers -> RE: House TARP Over-sight committee new bailout ? (2/4/2011 11:46:53 AM)
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quote:
ORIGINAL: Musicmystery
quote:
Commercial properties start going under and standing vacant then that means jobs will be lost
If commercial properties go under to the tune of the business closing, then it wasn't a viable business, real estate notwithstanding.
A business might well abandon a property merely because it's worth less than the mortgage, and move on, loaded with cash.
Maybe to buy that cheap abandoned building across the street.
I won't write a book here but I have been in comm. real estate sales off and on (more off lately) for 20 years. And the whole problem, well much of the problem beyond greed and avarice inspiring the purchase of very, very favorable capital gains tax status from our plutocracy...
...is these pieces of commercial property are all separate little LLC's (Limited LIABILITY Company) and most of the money (as much as possible) invested was of course...borrowed. That is the capitalist way...always, always risk other peoples' money.
So when a country such as ours with a culture of money and profit, you ALWAYS borrow what you can to make as much as you can risking others' money. Then get a 15% tax rate because you risked the most important thing in life...your [sic] money (in fact somebody elses money) YOU get a tax code incentive and in a so-called free market that isn't supposed to need any other incentives.
Isn't life beautiful ? You rich yet ?
In fact for a very reasonable fee (many, many $1000's) I will tell you all...all about how we can make some real fuck'n money and pay NO, that's right kinkroids...NO taxes at all...state or federal income tax.
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