a.SafaLab
The Neolibertarian NetworkExcuse The Hostility…
…but this makes me nuts.
Jay Stevens writes about about the failed Babcock & Brown purchase of Nothwestern Energy and comments on B&B’s practice of “Sale In/Lease Out” deals that they do around the country:
?Sale in, lease out? transactions (SILOs) are those in which a corporation buys a public utility ? a subway, toll booths, utility companies ? and leases the property back to the owners, usually a municipal government. The corporation gets a tax break from the deal; the municipal government gets an immediate cash infusion.The problem with these kind of deals is that, one, it’s a tax-shelter scam, enabling big businesses to cheat on their taxes… (emphasis added)
Cheat on their taxes? WTF is worng with these neo-soclialits that they think that taking a legal tax break is cheating? Here’s a new headline then:
Jay Stevens cheats on his taxes by taking the interest deduction on his house and claiming his kids as dependants!
Yeah, that’s obsurd, but so is calling any legal tax break “cheating.” Now fit that in with all of the tax based social engineering that progressives call for – breaks on alternative energy, breaks for affordable housing, etc. and either these folks are intellectually dishonest of so poorly educated that they don’t understant that it’s the friggin’ government that has made these tax breaks possible. Write your congressman for chrissakes and get off your shit.
I don’t know if the PSC made the right decision or not and I’ll bet that their decision was not based on good economic information as much as it was the fear of the ghost of “deregulation” – which is a great example of a political misnomer. But for the life of me I don’t understand why there has to be an issue made of a non-issue (since this deal wasn’t a “SILO” in the first place and, in the second, Stevens doesn’t seem to understand municple finance beyond making monsters of corporations.)
Some people seem to find it important to hunt for invisable bogymen. Get a grip.
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Just curious why you think they were fined twice, once in 2004 and once in 2006 for setting up sham tax shelters? Because they’re legal?
Thanks for taking the quote out of context. I see you’re as intellectually honest as ever.
Damn that neo-liberal, Chuck Grassley! I’m far from an economic expert, but it took me all of 15 seconds on Google to find out Grassley sponsored a bill that made SILOs in violation of tax law. God, I hope you’re not handling anybody’s money…
It’s absolutely irrelevant if the law is changed to close a “loophole”. The tax laws are complicated and Congress errs all the time in making laws that are vague and ridden with contradictions. And I don’t give a shit if Grassley calls them “scams” either – that’s just political double speak. What happens is that Congress finds a place where they fucked up and then they blame their ill written law on those who find a legal way to treat the asset and the income.
As of B&B being fined twice, even Mark T has defended what they have done in the context of the complexity of the law. But you never miss an opportunity to take a shot a big business. I find your propensity to throw out the words “cheat” and “lie” to be sophomoric. In fact, I think you should stick to writing about things you understand and leave tax law to others who actually have a clue.
As for your crack at my ability in my profession, that’s great. You’re an idiot inasmuch as you don’t even really know what I do. Quite sanctemonius, really.
One more thing, how the fuck did I take that out of context?
Umm, you made him look bad?
Let’s see…if there’s a law passed to close the SILO loophole…then the company in question gets fined for breaking that tax law…I mean…it’s wrong for me to call them a tax cheat? Seriously?
I have no idea what you do, I just hope that you’re not handling somebody’s money, that’s all. I mean, if you’re calling me (and Chuck Grassley) a neo-socialist because I think it’s scummy to break tax laws…I mean…if you were investing my money, I’d be nervous.
I heartily apologize to your delicate sensibilities that I actually try to learn anything new. I wrote another post with Ochenski’s and Tokarski’s explanations that did, I admit, have a better grasp of the issue. So now I know more.
BTW, you could learn a little civility from the Tokarskis. Mark was very gracious in the comments of that post to my finanical ignorance and clarified some of the points I made. You could stand a little of that, you know.
You could learn a little civility too inasmuch as you launch ad hominem into unrelated things, such as my work, when you feel offended. This is not the firt time you’ve done it and I think your priggish snark is illustriative of closed mindedness and lack of intellectual prowess. So allow me to do so in return.
A) Your fist sentence is rediculous in that you don’t even know the nature of the fines. It’s just more of your populist shit.
B) Your an asshole that proves that vocabulary and ignorance breed nonsense. (this would be the ad hominmen part.)
C) Quit trying to defend an indefensible position. You don’t know what you’re talking about here and you’re just looking for ghosts.
Your a hand wringing pussy that, in no small part, adds to the wussification of the modern culture through your neo-socialist nanny-state “Please someone do something!” cry for someone elses resources.
Last but not least, I wouldn’t have you as a client if you had several million dollars. You’ld be the kind of asshole know-it-all client that would always thinks he could do a better job than me. I think you’re an idiot and every time you write more of your progressive babble it reaffirms my opinion.
LOL!
Wow, Mr. Budge. Words escape me… I’d offer a defense, but I think you’ve done all the work for me.
Thanks!
…and an obtuse asshole too.
What hostility?
Yeah, what hostility? And from now on I’m going to stop sugar coating my opinion. It’s tough being the perfect gentleman that I am and I don’t think I can do it any longer.
To quote one of my favorite cartoon philosophers; “That’s alls I can stands and I can’t stands no more!”
Ethical instruction from Yosemite Sam? Maybe he can teach some gun safety classes when he’s done with the moral philosophy.
Err. Popeye. Damn ignorant of cartoons I am.
I am not drawing any parallels here Jay, but, I want to relate a story to you.
Remember the Bozeman senatorial debate where they let Stan Jones debate? He didn’t have anything to lose or gain so he was a loose cannon firing at will. While it hurt the other guy more, our guy didn’t come out of it unscathed.
Both the mainstream candidates could have spent time engaging Mr Jone’s tirade, but to what benefit? To what gain? Now, Mr Jones is a relatively smart man but obviously apt to go off the deep end at times (ingesting colloidal silver because he is afraid that Y2k would see the end of antibiotics). Maybe it is better not to go down that road.
With that said, good work Dave. I haven’t heard a lack of civility on a blog like that since What’s Right in Montana closed its doors.
Glad to do it. Want some more?
Dave,
Is the person who signs their name ‘David’ and moves discourse past the stage of spirited discussion to worse than playground name calling like
‘Your an asshole’
‘hand wringing pussy’
Is that you? Really?
“Just for shits and nickles – I assume you take yourself too seriously. Lighten up.”
Quote courtesy of Dave Budge only a few days ago. I smell a flip flopper!
Shane, yes it’s me. Judge all you like but what I said… I think – as it pertains to Stevens. But you’re not privy to the insults he’s cast my way over time. So it’s kind of “inside baseball.”
And BTW, I’m a victim of a form of blogger’s Torretts. It happens once in a while. I make no appolgies.