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 Replies: 35 / Views: 2,728 |
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Pillar of the Community
United States
1026 Posts |
Well not sure what will happen but being retired I sit and watch allot of experts over the past couple days talking. They all seem to agree no matter what we are in for a recession that they all seem to think will last a couple years.
If the economy gets bad and people lose there jobs they have to do what they can to get money like sell there coin collections.
I sure hope all these experts are wrong or we are in for some tough times in the next few years.
I have lived through some recessions but they all say not like we are going to see in the months to come.
I guess the next couple of weeks will show what is going to happen slowly.
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Pillar of the Community
United States
1415 Posts |
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Without going into politics, there are 2 ways of balancing a small gap of $700Bn, cut costs or increase taxes Not to get into politics myself. But if ya look at the history, increasing taxes does not increase revenues. It actually reduces revenues in the long run. Ya get a bump the first year as the tax is retro active, then ya loose. I'm still up in the air about the $700B buyout (I guess for a better word). The government owning objects in the private sector? It worked for Chrysler and the savings&loans, but they were small potatoes.  |
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Moderator
 United States
188439 Posts |
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Ah yes...the age old argument of the lesser of two evils: taxes on income vs. taxes on consumption. I know which one I favour. If you want to know why, you will have to ask me in the General Discussion Forum.  |
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Pillar of the Community
United States
2600 Posts |
Maryland 6%, Delaware 0%. Guess where I am moving my businesses to and only 6 miles way.
Jim
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Moderator
United States
188439 Posts |
For those near borders, you should live in the state with no personal income tax and shop in the state with the lower sales tax! |
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Pillar of the Community
United States
860 Posts |
Just came from my friend's gold,silver, diamond exchange/coin store, and there were sellers of Grandpa's coins to make ends meet this month.s rent. They said they were selling the lesser stuff, proof sets, War Nickels, whitman folders,etc. Next month,they may dip into the morgans. One of the Lincoln's #1 folder had a price for the missing 1914-D of $42 written in the blank, so it was put together a long time ago, but circulated, no key stuff. My county in Calif. has the highest unemployment rate of the state. 19.2% in May 2008. So many are selling what ever they can come up with. Sad situation. Jim |
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Pillar of the Community
United States
1231 Posts |
New Hampshire has no state income tax or sales tax. We have alot of out of state people who come shopping here.
But the property tax sucks!!
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Moderator
United States
188439 Posts |
So in New Hampshire, property owners bear all of the burden? That does not seem to be fair at all.
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Pillar of the Community
United States
1231 Posts |
I agree it isn't fair. But NH has alot of vaction/second homes that people from other states own. Anyone with lake front property gets taxed extra hard.
Our property tax runs about $2,600 a year for our town. The houses that I paint on the lakefront have tax bills around $30-40K a year. Almost every house I have painted in the last 5 years has been a second/vacation home for rich people from other states. I welcome them to keep buying. The builder that I work for has 3 more houses already sold and waiting to be built. The lowest price house he offers starts at $2.5 million.
It's good for people from Mass and Maine. They can come shopping and pay no taxes. We have alot of Canadians who come down and go shopping also. And now with their dollar worth more than ours, they come even more.
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Pillar of the Community
United States
632 Posts |
 .........  Edited by acidic1
10/03/2008 8:19 pm
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Pillar of the Community
United States
5318 Posts |
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Our property tax runs about $2,600 a year for our town  Anyone who bought here recently can expect $16K+ per year for a SFR. As expected, tax liens are rife. Quote:
How will the recent collapse of the financial system and the recession affect coin prices and investments? Just my quick take that I'm noticing more collectors selling coins to maintain cashflow. If we do see a banking lockup, I expect a big dump on the market, particularly bullion-grade coins. |
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Moderator
United States
188439 Posts |
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Anyone who bought here recently can expect $16K+ per year for a SFR. As expected, tax liens are rife. In Old Soviet California, they put lien on you!   |
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Pillar of the Community
United States
5318 Posts |
Quote:In Old Soviet California, they put lien on you! There's some truth to that. Luckily, the property I own was bought long ago. Here the irony is that despite the property tax windfall for 1998-2006, the state has yet another budgetary crisis. Beyond belief. That flag is funny...appropriate for the city of Berkeley and other faux-progressive (nimbyist) towns. However, the bear flag is a nice piece of California history which originated in a popular uprising against Spanish colonial rule--nearby in Sonoma. Edited by KurtS
10/04/2008 1:52 pm
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Moderator
United States
188439 Posts |
I agree, a nice flag with great history!  |
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Valued Member
United States
417 Posts |
I'm happy with 6.5% sales tax and 0 income tax. Unhappy with having to sell off the majority of the collection last year, but we won't get into that |
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Replies: 35 / Views: 2,728 |
First Page
Posted 10/01/2008 09:22 am
