Lund Explorer

Wanting to make a brief comment on a national sales tax that I wonder if people take into consideration. That is the large one time purchase. Assume that 23% is law, and it's now time for some young couple to make the jump into the American dream of home ownership. Modest home and for the sake of making the calculations easier, let's say the price is $200k. Gone are the days of getting a 100% equity mortgage, but to be kind, this couple finds a banker willing to take 10% down. How in the world is this couple going to afford dropping 33% of the purchase price to walk in the door of this new home? $66K plus loan costs to buy a house worth $200k that you still owe $190k for? That's going to take a real modification of how people look at buying a home. Until then, home sales will most likely drop along with property values for those who already own their homes. Home sales may spike right before such a tax kicks in, but it will surely crash right afterwards. How about buying a new bass boat, camper, or the truck to tow them with? How much of a downstroke is going to be required on a new Ranger or BassCat? How about the 4x4 you get to drag it from lake to lake? Okay, I'll shut up now as I've gone a ways beyond being brief!

Believe it or not Snook, the nightmare that was the SBT is finally over. The SBT(Single Business Tax) was a tax on what I could best describe as "modified net profits". Your example of a business with revenues of $500k and expenses of $660k, though it generated a net loss didn't absolve it of owing taxes under SBT once you added back in all of the nondeductible expenses. Those expenses, which include payroll, payroll taxes, other employee benefits, depreciation, interest payments, and many other items, punished businesses in this state for way too many years. It recently morphed into the new and improved MBT (Michigan Business Tax) which for some types of business wasn't much of an improvement. The MBT was broken down into two taxes. Three quarters of one percent charged on gross profits plus another 4%-5% charged on net profits. And on top of that was a surcharge to help balance the budget! If the company you gave as an example was one that had high gross profits, such as a hotel, bowling center, golf course, or a company with commission sales, they could owe a good amount of tax even though they still recorded a loss. Manufacturing companies also couldn't deduct production worker costs in calculating gross profits. Quite honestly, this new tax was simply insane. Fortunately, we now have a corporate income tax on C-Corporations and LLC's that are taxed as if they were a C-Corp. Individuals, S-Corps, Partnerships, and other pass through entities no longer have to pay a business tax in Michigan. Such was not the case before when such taxpayers not only had to pay SBT/MBT, but also were subject to regular income taxes on the net income. And people wonder why I fully endorse the consumption of alcohol..... For accountants anyways!

Welcome to the forum. So I'll start to answer your question with a question. After you've caught your limit, what do you change in your quest for that kicker?

Before this gets shut down sadly, I wanted to recall a story I heard a few years back. Former Senator Alan Simpson had taken the floor of the Senate during a debate on SS & Medicare, and to make his point he told a story about his Grandfather being pulled over by a Wyoming State Trooper for speeding. The elder Simpson was driving the old farm truck into town when he got pulled over. When the tropper explained why he had been stopped, he exclaimed that it was impossible for this old farm truck to go that fast. So the trooper asked him if he had a governer on board, an office that the middle of the Simpson clan held at the time. "Naw" the elder Simpson stated, "That's just manure you're smelling!" Of course at the time he told this story, Mr. Simpson had already decided to retire from the Senate, and as he told it that it mattered very little if he actually spoke his mind. Maybe we just need a little more of that these days. BTW, he is still telling it the way it is. Googling up his latest comments on social security as the co-chair of the bi-partisan debt commission only proves it. Not an exact quote, but close.... "Social Security is like a milk cow with 310 million teats!"

Gosh, I didn't even get the chance to welcome you to the forum..... You were really going to like it here!

So, last night we had a severe thunderstorm form up over the top of our little rurual county and it put on quite a light show. Watching the 11pm news, the weatherman came on to say that in the last hour that over 30,000 lighting bolts had been recorded in the county..... 30,000! That's over 500 every minute. In a square shaped county, 24 miles by 24 miles. 576 square miles in size, that's 52 lighting strikes per/sq. mile. Just over one minute per/strike, per/mile for an hour. It was almost an afterthought that it also dropped 3-4 inches of rain in that same hour, and just under 6 inches in the two hours or so before the storm left. So far as I've gathered, there were two homes that caught fire, one factory that took a direct hit and gave over 300 people a day off in the middle of the week, and one fax machine in Rodney that no longer works. But 30,000 lighting strikes in one hour? Makes me happy I wasn't on the lake!

Open the following link, hit auto repeat, crank up the volume, and leave for the rest of the day! Oompah!!!

Nope.... I'm going to disagree. This is a country that figured out how to go to the moon less than two decades after the first rocket was launched into orbit. As long as we all decide to band together for a common cause I don't think anything is beyond our ability to overcome it. Granted it seems that we have gone from Menlo Park to "As Seen On TV".... But I wouldn't throw in the jockstrap too quick!

The bottom line on all of this isn't solely about taxes or spending, but the shortfall between the two. Taxes? It doesn't take too much digging to find numerous loopholes in the existing tax laws that allows certain companies/individuals to pay less than their contemporaries. There are companies that pay little to no taxes in this country because they shelter profits off shore. It's very simple. Company XYZ has its products manufactured by Subsidiary "A" in a foreign country which then sells the product to Subsidiary "B" in a country that doesn't tax corporations. Then the Subsidiary "B" resells the products to the retail branch of Company XYZ at an inflated price to be sold in this country for little if any profit. Little or no profit means little or no tax liabilities. The individuals who truly own and manage Company XYZ pay greatly reduced taxes on their earnings due to other loopholes. Taking a modest (in their view) salary to manage the company, while taking any excess out in the form of stock options and dividends which avoid social security and regular income taxes. Many of these folks, much like Warren Buffet pay a flat 15% capital gains tax on the majority of their income. Also, many small businesses in this country may never leave our shores but still avoid some taxes. Companies run as "S" Corporations distribute profits to their shareholders who then report those taxes on their respective individual returns. However, anything these owners receive in excess of what is loosely referred to as a fair wage, is also not subjected to social security taxes. That is a savings of almost 15% on much of that income. Spending? Taking a look at what the government spends is something no one can really grasp. What is the difference between discretional on non-discretional spending? We don't even need to mention pork projects. I'm really tired of listening to politicians and others say that we only have a spending problem, especially when those same people probably have little understanding as to what we really spend. So here's my take on it. We need to figure out just what this country NEEDS to spend. We need to figure out how much it is going to really cost to maintain a sane amount of social programs, a military that can protect us, to maintain and expand our infrastructure, to set aside enough to insure that we can survive a potential catastrophe, and with enough left over to pay off this horrendous debt load. Once we know what we really need to spend, then we can figure out how to pay for it. We need to close loopholes that allow multinational companies to operate here tax free, just as much as we need to revisit the idea that a single mother of two children earning $10k per/year qualifies for a $5k tax refund. We need to enforce fair trade through the use of tariffs on products dumped on our shores. A country that artificially lowers the value of its currency to gain an unfair trade advantage, should be treated the same as a country who sells their products here for less than they charge their own people. Finally, we need to figure out what activities should require a user fee based type of tax to fund the many government organizations that oversee those activities. Just like hunters/fishermen pay built in taxes on the products they use in turn for game/fish management, people who want to travel on smooth roads or cross safe bridges should be willing to pay fuel taxes to cover the cost to have that privilege. If an industry needs to be monitored by organizations such as the EPA or OSHA, then there should be a fair way to generate the revenues to cover those costs. Almost sound like I'm proposing that we have a balanced budget.... And maybe I am. There will always be times when a country, company, or individual needs to borrow money for some unforeseen problem, or to fund an expansion, and there isn't anything wrong with that. But regardless of the entity, none should think they can last long spending more than they make on day to day expenses. A year or so ago, I read an editorial where the author said that "Taxes are the cost of citizenship.", and I couldn't agree more. If we want to live in a country that offers the most to its people, then we should be willing to pay the most. If we don't mind living in a banana republic, then we should pay their taxes. I truly think that a country full of people who will pay almost any amount to have a cell phone that does everything, anywhere, should be willing to agree to do this.

So let's see if I've got this right.... Only one day left, everything is gone before the next sunrise? I'd start the day off by fishing my favorite lake and off the water by noon. Spend the early afternoon talking to all the kids/grandkids with a little left over for a visit with Mom. Get to the bank before it closes and withdraw about $10k worth of hundred dollar bills. And then spend the evening going fullbore Charlie Sheen! Sit down at the bar, order a shot/beer, pay for it with a C-Note, tell the cute little bartender to KEEP THE CHANGE! Do this a few times in the first hour, and then see how many times she'll slap my face before kicking me out the door! Go to the next bar, pay the cabby an outlandish amount, and repeat the above steps until it's time to call the cab company again. Keep this up until you are finally escorted by a uniformed gentleman to a special room with no furniture for the rest of the night. Use my one phone call to tell the wife that I love her, and will see her on the other side! Anybody want to tag along?

Assuming that you are going to keep in the back of your mind both the type of tow vehicle you've got and where it is going to be stored, I think your priority should be based on the all mighty dollar. You need to consider not only purchase price, but maybe more importantly it's potential resale value. Being that this will be your first boat probably means it won't be your last one. The last thing you'll need is owning a boat that no one wants to take off your hands. One of the best ways to do this is by finding out what brands others in your region own. You may have to pay a little extra when you purchase, but it should mean you'll get that back when its time to upgrade. The rest is fairly easy.... The engine should be in solid running condition so that you aren't stuck at the ramp when everyone else is blasting off. Spend a few extra bucks by having a trusted marine mechanic inspect the engine prior to the purchase. Depending on how old the package is, you may find a wide variety of engine types from the older carbed motors with oil blending units, to more modern fuel/oil injection models. Remember that the gas engine will make up half the cost of a new boat, and will be the fastest to depreciation in value. The boat itself, assuming that it will be a glass model, needs to be looked at for both structural and cosmetic issues. Cosmetic issues may not stop you from being able to operate the boat, but can be a good bargaining point if the prior owner has been a little rough on it. Your main concern should be wether the hull, deck, transom, and stringers are all solid and undamaged. It is a lot easier to replace worn carpet than a broken stringer. The trailer also need to be looked at. Look at the tires to make sure they are in good shape and also to see if there are any wear spots that could indicate an axle or alignment problem. Make sure the trailer's bunks are in good shape and aren't warped or worn out. The bunks sould fit the shape of the boat's hull. If they don't, find out if this may have caused any hull damage. How's the rust? Many older trailers get beat up over time from traveling down our roads. Two things I wouldn't worry about are the lights and the bearings. Set aside enough cash to replace both if needed. I'd never buy a new boat without going through the steps of tearing apart all of the bearings and repacking them. You don't want to be the guy with his boat parked on the side of the road! Electronics? Unless you're buying a boat that is only a year or two old, plan on upgrading all of them. Set aside enough cash to purchase all new batteries, and two quality Graph/GPS/SI/DI units for the bow and console. There have been so many upgrades in the last few years, why get stuck with older technology that puts you at a disadvantage. Hope this helps, because you're on your way to many years of buying, owning, and selling. Any money saved in the future should be spent on tackle, not correcting mistakes!

Congratulations on your first win. Hopefully many more to come in the near future.

Welcome to the forum! You're going to find a whole lot of very accomplished anglers around here that will give you all of the advice they can. You'll also find that there are many articles and videos that could keep you busy for days on end. Clicking on the link below takes you to one section of them that you may find helpful. http://www.bassresource.com/how-to-fish I hope you'll enjoy it around here.

Congrats! Does this mean you'll be giving up tournaments so you can babysit on Friday nights?

Granted he probably did, that was the reason for the little smiley. Meant only as a gentle nudge in the ribs, and no way near a slam.

Do a search for the old In-Fisherman formula for success and study it. I think you'll find that once you learn the basis for that theory, things will be much easier to understand.

Nah, I think I'll take the good old USA. Cash may be close to the same, but when it come to the intangibles, I think this country's oil leases alone are going to add up to a lot more than the handful of securities Apple might have. The only problem we have right now is the fact that for every dollar the gov't spends they have to borrow forty cents of it. A balanced budget might work, but nobody in this country has ever grown without the chance to carry some debt at one time or another. The key is going to be working towards making ends meet and paying off that $14 Trillion dollar mortgage is a reasonable amount of time. And just like you, me, or any other working stiff, we can't keep asking for a pay decrease until we can afford that luxury. This problem has exploded within the last ten years or so. Nobody needs to point fingers at any political party, we just need to look at what life was like back then..... Before the current economic theories we're living with were put into practice on a full time basis.

Should've come up with that before you mis-quoted Warren Buffet, huh?

I sure hope that all of you got away from the ARM on your house and paid down those c/cards. Not sure how bad stocks will get hit, but I remember the bad old days (late 70's -to- early 80's) when interest rates went nuts.

Welcome to the forum, you're going to find all sorts of knowledge here. To your problem, did you consider going back to another light action rod? It's easier to compare apples to apples than apples to oranges. Someday soon, you will run across a gentleman named Catt, and he may repeat some very sage advice of his; "If you use the same tactics, you'll only get the same results" <or close to that>. If you were happy with your results, then maybe using the same tactics and tackle is your answer.

Where's Fish Chris when you need to hear about how to place a gob of live nightcrawlers in her face? If you're stuck on artificial baits though, I'd suggest not tossing the bait right on top of the bass, but well ahead of it's route of travel.

Sadly, it probably won't. This isn't the first time that an addiction has caused the death of someone too young, and it most likely won't be the last. Worse yet, while there have been many of the rich and famous that have fallen victim, are the untold numbers of average citizens that die without so much as a notice outside a greiving family. Not until society decides to stop lauding over addicts, for whatever supposed talents they have, will the cycle possibly end. Maybe it wouldn't have changed the outcome here, but what if everyone had just turned away their support for this young woman's "show" when her problems had first shown up. I'm not saying not to help, but to stop playing her music, stop all of the insane media coverage, to take away her doorway to further fame. Could it have changed her mind if she had known that the only way back to her fans was through sobriety?

If you are serious about getting into this networking thing, then you need to start looking to your parents, relatives, neighbors, or friends of the family. Quite often, a good word put in by one or more of these folks gets your foot in the door the fastest. Word to the wise though.... If you get a job based on their help, don't foul it up. That's the most assured way of never getting that kind of help ever again.

Please don't ask me to go out in that garage to take that picture. From the way it sounds, you've got a good idea where to mount it, other than below the level of the boat. Mine is level with the bottom of the boat so that I don't bump it on anything I may run on top of. Your transom should be thick enough that using a 1/4" to 1/2" sheet metal screw (stainless of course) without going all the way through it. Using tape on the drill bit should allow you to know when to stop drilling. On my last install, I used clear DAP silicone sealant. Put on a wide spread of it the size of the entire bracket, and then screwed it down. Not sure how long you should wait, but I took mine out the next day with no problem. Remember to put in several cable holders on the transom as well.

Sorry, that's the name around here for a crawler harness.