TO THE WISE ONE, I'M SEEKING KNOWLEDGE

[afadi]

Please refer to the statement below:



"Now let's put taxes into the calculus. First, let's say per your suggestion, I use this loan as extra income to, say, "flip a house". Then, assuming that the Bush tax cuts expire, I would pay 39.6 percent in federal income taxes on that extra income. Beyond that, the phaseout of deductions adds 1.2 percentage points to my effective marginal tax rate. I also pay Medicare tax, which the recent health care bill is raising to 3.8 percent, starting in 2013. And in Massachusetts, I pay 5.3 percent in state income taxes, part of which I get back as a federal deduction. Putting all those taxes together, that $1,000 of pretax income becomes only $523 of saving. "


First off, I'm assuming - as you used US dollars and you are in the US, as is Nii - that the governing Tax Code here is the IRS's.

Given that, please enlighten me on the following:

1) tell me when loans became extra income that could be taxed. Let me help you - loans are considered taxable income to a borrower only ONCE THE DEBT IS DISCHARGED. However, here in this wonderful well-thought-out materpiece of yours, you did not mention the loan being discharged.

You see, the term "extra income" is in fact a term of art (look that up), which, erm does NOT apply here. You got a loan. It is NOT extra income, and NOT taxable UNTIL discharged. Erm, in YOUR own "thought experiment" (forgive me as I laughed at the word "thought," owing to the fact that it implied - HECK, averred, that some thinking was done before), you NEVER mentioned or implied that the loan had been discharged. Never.

2) Even if you try to weasel your way - laughably by the way - into saying the taxation was on the basis of the property purchased, you did NOT state how much you flipped the property for, and what the profit was, so your "calcualtions" derived, are thoroughly rubbish. What you DID do, was base it - to derive the $523 figure - on the $1000 you borrowed, inferring, you sold the property for a $1000.

Begs the following questions:

1) What idiot borrows a $1000 to buy a house for a $1000 and then sells it for....a $1000?????? (in effect, you have borrowed money to incur taxes, leaving you worse off than before, genius!);

2) So really, this supercillious rant of yours is actually based on an incorrect, false and downright blatantly untruthful premise is it not??

3) Furthermore, given that living in the US as with many western nations, everything from rental applications, mortgages, and now even jobs and college applications are in part decided on basis of your credit score, isn't it a VERY stupid statement to question the basic sound advice to be creditworthy??

Over to you for more "enlightenment."

I eagerly await you to show me the error of my ways. I humbly accept whatever learnings I can get from this distinguished forum.

And to the numbnuts who jumped on this like a "messiah" had come to lead you out of the miasma of your fetid existence, you DO realize Jim Jones led people too right? What happened to THEM?

lmao.

[Kwakwe Last Stop]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

[afadi]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

[paabo]

A lot to catch up on this web of Ghana. I feel it should make some interesting read.

[Nanasei-Coach Appiah #1Fa]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Boss it was not meant to be understood. It was meant to completely confused and belittle Niidawg and that was accomplish without a doubt.

[Biya]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

[keen observer]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Boss it was not meant to be understood. It was meant to completely confused and belittle Niidawg and that was accomplish without a doubt.

[Turbo Turbulance]

Idiots go for loans with an "Arithmetic" mindset; the smart ones go for loans with a "Mathematical" mindset; the former should NEVER go for a loan !!

The greatest secrets have been buried in writing; it is the responsibility of everyone to READ the TERMS carefully with understanding, when going for loans, especially the ones printed so tiny that one has to use a hubble telescope to identify what is written.

[keen observer]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

There goes that idiot who only logs in to insult me.
Dude, i am not Ahoofe, if you have beef with him, go find him and insult him..Your behavior here is getting stale..Take a look at your posts on Ghanaweb. More than 90% are one line insults directed at me because in your warped mind you think i am Okuampah Ahoofe!!
The mere fact that you cannot distinguish an English professor from me, says more about your sanity than anything else!! Moron!!!
This is the last time i respond to you!!

[Turbo Turbulance]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

Biya is obsessed with KO.

Looks like you're deeply in love with KO.

You mention him in almost all your posts.

Compulsive Obsesive Disorder don catch you, huh ?

[keen observer]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

Biya is obsessed with KO.

Looks like you're deeply in love with KO.

You mention him in almost all your posts.

Compulsive Obsesive Disorder don catch you, huh ?

He probably uses a different handle and only logs in as 'Biya' to insult me..What an obsession.

[Biya]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

There goes that idiot who only logs in to insult me.
Dude, i am not Ahoofe, if you have beef with him, go find him and insult him..Your behavior here is getting stale..Take a look at your posts on Ghanaweb. More than 90% are one line insults directed at me because in your warped mind you think i am Okuampah Ahoofe!!
The mere fact that you cannot distinguish an English professor from me, says more about your sanity than anything else!! Moron!!!
This is the last time i respond to you!!

I log on just to insult YOU? Yeah, maybe I'm learning from YOU. Moron.

[Biya]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

Biya is obsessed with KO.

Looks like you're deeply in love with KO.

You mention him in almost all your posts.

Compulsive Obsesive Disorder don catch you, huh ?

Spot on Turbo Man. I just can't stand his old, wrinkled hypocritical behind. Now he accuses me of logging on just to get him. Watch him closely and you'll see he does the same exact thing to other people. Watch him!

[niidawg3]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Boss it was not meant to be understood. It was meant to completely confused and belittle Niidawg and that was accomplish without a doubt.

You are joking right. Confuse me. 90% of what he said made no sense, and i treated that nonsense as such. But hey - he is obviously Captain Ghanaweb for some of you - who comes out of his phone booth every once in a while to fight beefs on your behalf ... so i can see why you love the n-igga.

KO - how be things this morning? You den the wife go go church? A nice family moment ...

[keen observer]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

Biya is obsessed with KO.

Looks like you're deeply in love with KO.

You mention him in almost all your posts.

Compulsive Obsesive Disorder don catch you, huh ?

Spot on Turbo Man. I just can't stand his old, wrinkled hypocritical behind. Now he accuses me of logging on just to get him. Watch him closely and you'll see he does the same exact thing to other people. Watch him!

Delusional fo-ol!! 90% of your posts are insults directed at me!! Are 90% of my posts directed at any one individual? You stupid idiot!! Like i said, if you have a fight with Ahoofe go look for him and insult him..Don't assume that he is me!! You moda focking moron!!!

[Biya]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

Biya is obsessed with KO.

Looks like you're deeply in love with KO.

You mention him in almost all your posts.

Compulsive Obsesive Disorder don catch you, huh ?

He probably uses a different handle and only logs in as 'Biya' to insult me..What an obsession.

Yeah, I bet by next week you'll say Biya = NiiDawg just as you lied that FIO = Alancus. Kwasia.

[keen observer]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

Biya is obsessed with KO.

Looks like you're deeply in love with KO.

You mention him in almost all your posts.

Compulsive Obsesive Disorder don catch you, huh ?

He probably uses a different handle and only logs in as 'Biya' to insult me..What an obsession.

Yeah, I bet by next week you'll say Biya = NiiDawg just as you lied that FIO = Alancus. Kwasia.

I lied? You stupid idiot? Where were you when FIO outted himself? You were too busy looking for my posts to insult me!! Moron!!!

[afadi]

Erm, why was this moved??

[Biya]

Yeah, i did not get Bank's whole thing with the credit score issue. It does not make sense.

None whatsoever, but in the land of the blind, the one-eyed-man is king to be followed and praised.

Are you talking about KO?

Biya is obsessed with KO.

Looks like you're deeply in love with KO.

You mention him in almost all your posts.

Compulsive Obsesive Disorder don catch you, huh ?

He probably uses a different handle and only logs in as 'Biya' to insult me..What an obsession.

Yeah, I bet by next week you'll say Biya = NiiDawg just as you lied that FIO = Alancus. Kwasia.

I lied? You stupid idiot? Where were you when FIO outted himself? You were too busy looking for my posts to insult me!! Moron!!!

And how exactly did FIO out himself? By confessing that to YOU? You're more f00lish than I previously thought. WOW!

[Turbo Turbulance]

Erm, why was this moved??

So this thread ended up in a SUSU Forum ?

Susu paa forum, dem don degrade thread im value.

Thread movers association at work, abi.