"When he founded Harbor Freight Tools four decades ago, its unlikely
Allan Smidt expected it would end like it did this spring, when his own
son had an executive walk him out the door and lock him out of the
building."
http://www.vcstar.com/news/2010/jul/19/harbor-freight-ceo-accused-by-parents-of-looting /
Interesting comments on working at HF
http://www.jobvent.com/harbor-freight-tools-job-reviews-C6325?searchType=company&searchText=harbor%20freight
Assuming above story is factually correct, this is one of the few times I
approve of post
term abortion ;)
Wes
--
"Additionally as a security officer, I carry a gun to protect
government officials but my life isn't worth protecting at home
in their eyes." Dick Anthony Heller
Excuse me?
Do you have a clue as to what you are talking about?
Transferring money to anyone (such as heir) as a gift, while alive,
subjects them to gift tax, which is very similar (and is designed to
supplant) estate tax.
Getting money from daddy when daddy is alive, is generally taxed the
same way as when daddy is dead.
Um, if I remember right, you do not have enough assets as to pay
estate tax, right? Why are you including yourself into "the rest of
us"?
If, indeed, your assets do not exceed estate tax deduction, they you
or your heirs would not be "paying".
Only one death out of 200, creates a situation where estate taxes
would be payable (per Warren Buffett, I am sure that he is right).
This is an empty argument. Any kind of economic activity has this
nature.
I could hire people to build 20 statues of me. But, while they are
employed to build statues, they would not be doing something more
useful. Or my money could be taxed, and spent by the government to
build 20 missiles, that would be fired at the current enemy of free
world. It is similar in nature also. Just to give you two examples.
I do not believe that resources are allocated correctly, if dynasties
of do-nothings maintain full control of assets that they never worked
to create. I would be OK with replacing "full" with "partial", which is
what estate tax accomplishes. It whittles down those dynasties over
the years.
i
On Fri, 30 Jul 2010 13:21:35 -0500, Ignoramus18915
Ig, the gov't wouldn't build missiles with it, it would be sucked into
a payout to a fraudulent contractor somewhere in the particular
CONgresscritter's district who would kick back 20% of it to the CON.
The project would be a highway to nowhere, a bridge to nowhere, a
military dock on a closed base in Hawaii, or other somesuch bullshit
thing. Sure a few guys would be working, but it would involve fewer
of them than possible because it's a gov't job and unions are
involved, ensuring the highest possible wages to the worst possible
workers for the grimiest of builders...
The CONgresscritter's portion would then to go Columbia to support
some drug dealer there while supporting the CON's coke habit, to
brothels, to subverted aides and pages (of both sexes), and to the
Mafia, who helps enforce the CON's will in his district.
Just so you know, that's what's happened to the American Way. :(
Vote Democratic; Feed a dealer and Madam Today!
--
To see what is right, and not to do it, is want of courage or of principle.
-- Confucius
Staying at family compounds, buying on family charge accounts, payments for
bogus services, staff on family payroll, there are probably a lot of ways to
prop up her lifestyle without gift taxes.
Most of it is probably legal. Staying at your Dad's house or summer home is
not taxable. What if your family has five homes/complexes? While you're
there you have use of the family vehicles, servants, club
memberships....supplement that with some carefully crafted trust fund money
and earnings- she's rich without large taxable transfers.
Even if it's taxed, the tax doesn't take all of it. You people act like
someone ending up with a hundred million dollars out of a 200 million
dollar estate is impoverished or something.
-0400 typed in rec.crafts.metalworking the following:
And you act as if having the government take half of what you
saved and earned over the course of your life is not a bad thing.
Some people behave as if something is okay, as long as it involves
large amounts of money.
--
pyotr filipivich
We will drink no whiskey before its nine.
-0400 typed in rec.crafts.metalworking the following:
So you don't care if the government decides that you are "rich"
and deserve to make a "voluntary investment" of half of your savings?
Or all that surplus moeny you have?
Unprincipled rat bastard, ain't you. Like I said, you don't care
what happens, as long as it involves lots of other people's money.
tschus
pyotr
--
pyotr filipivich
We will drink no whiskey before its nine.
-0700 typed in rec.crafts.metalworking the following:
I should amend that to read: Some people behave as if something is
okay, as long as it involves large amounts of other people's money.
Come to think of it, as long as they just tax those people who
still favor Obama tax increases, who am I to complain? They get to
pay more in tax, and the government get the revenue.
--
pyotr filipivich
We will drink no whiskey before its nine.
Well, yes, but no assets are transferred. My kids stay at my home too
(expensive) and I wipe their butts (could also be expensive, but I do
it for free).
i
Hilton may be lacking in the morals area but she's one sharp broad - a
millionaire in her own right many times over.
Paris Hilton has become a brand and that brand has left the person behind.
She is now Paris Hilton, Inc.
JC
-0400 typed in rec.crafts.metalworking the following:
And doubt you not that the family and company have some very sharp
tax attorneys who have figured that all out.
That is the real problem with the "tax the Rich" mentality. The
alleged targets (The Rich) are able to afford the lawyers and
accountants to find the ways and means to accomplish the desired end,
while those who would like to become rich, are not able to afford them
This is one reason why big corporations don't really mind business
regulations. They can afford the compliance costs in terms of
employees who do nothing but fill out government paperwork.
--
pyotr filipivich
We will drink no whiskey before its nine.
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