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Comment Re:Tax planning and rich people (Score 1) 2115

You're not entirely correct. Short term capital gains occur when profits are generated on assets owned for less than a year. These gains are fully taxed as income. Long tern capital gains ( > 1 year) are taxed at a lower rate. In Buffett's case, he has owned his BH shares since they were created, so he just sells off enough shares throughout the year to cover A PORTION of his income needs.

Comment Re:Boo-hoo! (Score 0, Offtopic) 121

Hello taiwanjohn, nice to meet you. I'm a "Fat-cat commodities gambler" here in Chicago. Have been in the business for over 20 years along with writing proprietary software for other "fat-cats" and "fat-cat firms" for even longer. I too pay taxes (a very large amount) and spend money in our economy just like you. So what industry and line of work are you in?

Comment SyFy Channel Saved Me Money! (Score 4, Interesting) 742

The programming has become so bad that when deciding on a cable tv package the only significant difference (for us) between the tier I ordered and the one above was the Syfy, Bravo and an extra c-span.

I ordered the lesser priced service specifically because I was no longer interested in that channel. So Syfy sucking has saved me $20+/month

It looks like I'll get my science fiction in print and from any number of the streaming services.

Comment Re:In other news... (Score 1) 574

Big corporations put their computers physically close to the stock exchange to have that nanosecond advantage for their automatic buying / selling machines. But that is obviously OK.

And we pay dearly for this proximity
"The right to directly trade shares on the exchange is conferred upon owners of the 1366 "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number was increased several times over the years. In 1953, the exchange stopped at 1366 seats. These seats are a sought-after commodity as they confer the ability to directly trade stock on the NYSE. Seat prices have varied widely over the years, generally falling during recessions and rising during economic expansions. The most expensive inflation-adjusted seat was sold in 1929 for $625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $4 million in the late 1990s and $1 million in 2001. In 2005, seat prices shot up to $3.25 million as the exchange was set to merge with Archipelago and become a for-profit, publicly traded company. Seat owners received $500,000 cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange."


Submission + - Rare Borland Memorabilia for Haitian Relief ( 1

santakrooz writes: Embarcadero employees, many of whom are original Borland engineers and employees from the early Turbo Pascal, Quattro Pro, Paradox, JBuilder, Delphi and Borland C++ teams, are auctioning off rare and historical Borland memorabilia to raise money for Haitian Relief efforts. Proceeds are going to the Clinton/Bush Haiti Relief Fund.

Comment Re:the real threat will be government intervention (Score 1) 388

And because this is Slashdot, I feel the need to point out that the above post is sarcasm...

Sarcasm noted. However, seeing that you have been modded up to 5 fills me with fear for the future. The fact that so many people agree with your inclusion of media/press with the other professions you mentioned as one to be regulated is, in fact, breathtaking.

Comment Re:the real threat will be government intervention (Score 1) 388

After Fox News won their argument in Florida establishing there was no need for them to report only the truth or facts, I see lots of room for regulation.

What case are you referring to here? And are you advocating government regulation of private media BEYOND existing libel laws? If so, what does that regulation specifically address?

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