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-- ready ugly about his dot com live Tracy -- kind of came back -- can't get enough I know little.
I love each and every one of you.
I do bloody Tracy by the way I had another something in this there's going to be like some you -- -- -- -- and get -- like bloodstain Atlanta.
No my best friend going up as a salesman.
Dave Hunt Danzig and they and he he always had our show.
No they've dancing is not and I should you pay so much Glenn Danzig and its international.
I was on -- -- -- Glenn Danzig.
-- -- dancing he's -- salesman.
And he has an internal ledger in his head to -- if you if you if he does it's only forty wants a UC tickets for gamers com sometime.
He might -- gotten me tickets for Ronnie James deal in 1985.
It is a great show last -- but he's gonna look of that ledger when days like.
All right any else those -- James the other seats -- he's good to see I thought maybe -- get me you know Doug SEC Yankee Stadium.
I can't I understand you know what is it was some sales below.
I mean my parents have a friend like that -- he holds the door for you once and you along for the rest of your life and it's and it's just eat you -- big.
Once immediate help put some old man met on the street on TV because he held the door for me one time pretty neat stuff -- -- -- any it's -- salespeople and no knock on sales people.
Although I -- and so it is -- they actually keep this internal ledger thing going in their heads at all times I alien ideas need.
Personally I -- a little we had to settle up at some point in time you know.
Must we sad that and I think gumption is gumption I'm an eye on it come -- -- run your routes well now I have part of that is yeah.
A bit when you say that I didn't do.
I want to welcome everybody to show we're glad you joined us today we do have an up market that's up 71 points which is exciting and of itself because we're in this trading range we've been bouncing off the bottom of that range.
-- -- -- -- -- -- Since last Tuesday we had one bad day yesterday sort of the hangover after.
-- -- Labor Day but now we're we're higher.
Short week still low volume.
Fed minutes fanatic -- what we're expecting out of that -- but you know I was ready to -- days are -- -- NASA and its database which is why they -- the base because we all wanted to be blowing like a Beige Book.
We wanted to look at the cover of the shining -- like that we wanted to be a book that so boring.
Nobody wants to read it what they're telling us nothing new OK fine let's move on that's what we want and it's why they called the -- -- -- because it was a Ferrari red book.
Doing all we read that thing.
Oh my god you're worried about.
Digital and data Doug -- rumor is true and then I -- -- -- that there's a Beige Book is -- -- no one talks about it that's greats let's move on pace so I know we you know we have.
George euros here with us to talk about commodities is up but they're still like.
Personal -- -- oracle deal is the gift that keeps giving.
Mark -- now hired by oracle.
Oracle now suing asking the HP now suing because they never got that Philly will not compete.
The only people seems pretty cut and dried and that how could you not make mark Perry signed a non compete before he walked up the death.
Think I think he did.
And that's what they're suing to enforce the -- -- -- -- did did you like officially not sign it by the time you -- fully with US EU signed it he had that agreement is as contract -- HP and then he had a separate agreement that he signed upon leaving.
Still they're suing to enforce that agreement the judge Gonzales on bonding company -- today the judge said look.
It's really cut and -- which should be cut and -- case the question is the court will decide how much money.
That oracle is gonna have to pay -- ready.
-- for damages how much will damage HP -- -- marker to be president of oracle so.
On top of the one million dollar salary almost one million dollars which isn't a whole lot really when you talk about -- I guess I didn't -- That and ten million shares of stocks and that's a lot.
Oracle may have to pay and they -- to pay.
Millions of dollars I don't know how many in the millions of dollars to HP for the services of markets -- states and for that.
And he's eligible for his fun great -- and I Don -- after five years.
-- dad -- -- I'm not sure what that bonus is that -- -- should mean there's obviously bonus structures with a lot more now that 900.
Plus thousand dollars out.
And -- was -- a big news today right there and like.
Well -- lit a bit of it was.
It's our fault but it's now all these other people it's new and it's usually when it's Greig and it's Halliburton it's -- Melbourne for the cements.
And rig was were responsible for this so.
That's not a surprise now now -- up its comedy skit coming up.
-- NGOs here was this the situation well thank you for having me we're delighted exciting -- believe -- -- -- well especially -- think we have any excitement this week I get -- on the very closely.
Tomorrow lot of people will be your off.
And and -- or shortened week it started late.
And here we are new highs in some precious Reynolds include -- including -- especially.
Of course I've been.
The ratio silver to gold recently and silver really is coming -- And and it's now twenty dollars.
Right about where the technicians like it to be.
And gold is that 1260.
Which means all those 1250 calls that I thought turns acted on the floor -- little while ago two weeks whom are in the money.
Yeah and so I think there's going to be a lot of a lot of fun war in the next couple of weeks about this price area -- -- why balance -- -- -- -- well and I don't mining companies love this though.
Area calls because of course it's revenue producing in the long run.
And and so the trade is short for gold eventually.
For their future production.
On the other hand.
The buyers that we're the hedge funds and the money managers who like gold.
Are are now in the money.
And so America is going to be forcing whole lot of volatility in the course the -- of the price.
The bigger the volatility percentage wise because -- because you think in the law the war there in the money.
The more at the yards -- you'll get a -- -- -- -- B course on hold backs.
The options become futures contracts.
They aren't cash settled so that if you're long or coal.
You will who got long a futures contract on expiration of its in the money.
And if you're short -- cool you're automatically short -- futures contract.
Our contract is the biggest open interest contract on comics it's huge which means we're going to have an unusually big roll over from December to February of next year.
They're just in a couple months.
Yeah -- -- sending somebody just wrote in and -- I don't understand investing in a volatile metal.
Real state as an example as a better inflation -- -- can actually earn dividends in the form of rent it's you look the other hand I think real estate is not -- not portable.
And you -- are -- loyal we're just not when I'm old but gold is portable and liquid and has no allegiances.
And has become another currency.
Real estate probably has its place an alternative investments and and of course oil certainly has its place an alternative investments.
Because it's a black gold on the other hand.
Today in order to be a commodity analyst you can't just watch the commodities that you're used to.
You have to look at interest rates.
Car you have to look at.
Whether ship being you have to look at certainly.
Currency movements and interest rate -- announcements.
And the movements in the stock market so you've got to have our eyes in the back of your head practically 24 hours.
Today -- -- -- the conventional thinking is dollar goes down.
He's the nominee not these dollar denominated currencies go up oil gold goes up there's an inverse relationship there although X has certainly -- -- the -- But today there's a divergence the stock market -- up and gold was up or -- and crew did have a rally.
On the other hand there's so much crude around that now we have to assume that there -- is not need based in other words.
It's not being refined yet for the winter for heating oil.
By the way that's -- I like platinum and palladium because platinum.
Is used our bench that before.
Crude -- -- the heating oil and gasoline so the oil companies need platinum.
The jewelry trade likes platinum also because it's a higher priced.
And it's always been higher price so there's not as much sticker shock and platinum jewelry as there will be little old and here I like platinum and I like palladium.
Which is the cheaper version of platinum -- -- industrial metals I like some industrial metals.
So I like some industrial metals that are marketing on the right because if you like the industrials.
How -- we don't like -- and the invasion being crude as well because then we were making of that basically on the global market expanding.
Which -- -- seeing that it's slow them down but there's so much crude.
That is difficult for it to make my way not if you look at -- lie lie and play around palladium.
And of course there's copper.
I mean you look at yourself on you don't think of -- but if you look at the lights on the ceiling every building has stuff copper wiring.
And if you we are going to have.
That stimulus even though the administration today's Scott -- a good stimulus.
But some sort of a kicker.
-- and you are going to have a rebound in housing you're gonna need copper and of course if we're gonna have a very good -- here in China for example having a super car here.
They're using nickel and chrome and steal.
And and all the -- -- industries have to have two day a catalytic converter for every country which years ago they didn't.
You -- -- assembly line that went to the United States and Canada.
And then you have an assembly line that went to countries that did not need -- political murders who know Greenlaw.
And now today the -- automobile industry has won assembly line every car gets the catalytic or murder.
And now you're also going to have more diesel engines.
More diesel powered cars longer gas mileage they use more -- -- catalytic or murder so yes I platinum employee of the time.
George thank you so much good -- -- thank you don't always -- is up to date on what's going on.
So that commodities -- with the precious metals in the industrial metals and oil and gas and we need to know all about those things.
-- we -- yet -- Somebody on the website talking about real estate.
We certainly talked a lot about that let's talk more about that Phil Keating Fox News joins us right now from Miami and -- We've been talking a lot about distressed real estates.
And there's a very interesting market -- particularly where you are where you getting a certain group of people coming down and buying a lot of realists they aren't you.
The other -- -- from all around the world Germany France Italy and Venezuela Mexico other parts of South America.
And these are people that have a lot of money basically what you see behind our studio window here is is what you see in abundance in South Florida that are.
That is a Condo tower especially in downtown Miami for example.
Condominiums were built and sold according to kind of vultures dot com we'll between 2000 -- -- -- 2007.
When the market crashed.
That volume of available condominium property trouble -- the 34000 and clearly all of that has not sold yet but right now you can get a Condo on the beach.
That went for a 172000.
Dollars just couple years ago you currently get it for about 50000.
The price per square foot is very beneficial the trick is though you've got to have cash and a lot of it.
It takes -- blocks to visit -- -- our Brothers com.
That's because Angel in Santiago bought 39 condos all in foreclosure all lines.
For seven million -- exceeds a nice letter view they fled to seventeen of their Miami units for a real quick profit and plan to sell the arrests in three to five years when they hope to doubled their investment.
And my -- never been so down so when you're such an island -- but you can -- Bulk buying is one segment of the real estate business that's booming right now.
In Florida especially Miami -- there is plenty of opportunity due to tower after tower of distrust and discounted condos this is.
If you don't have or can't -- stand no chance you're gonna get crushed.
And as you have cash Condo vultures dot com's Peter to -- he says.
-- deals are everywhere and lo and behold.
It's on the market today 50000 dollars and will probably trade at 35 to 40000 dollars and it was released a 17272000.
Dollars what was purchased for.
And right now in Miami Dade County and Fort Lauderdale Broward county and up in Palm Beach County.
And those three counties alone in South Florida there are 6000.
Condominium for sale that you can now get for about 50000 dollars and again.
These were going for a 150 a 172.
Prior to the crash back -- through 2007.
So it's Miami Atlanta.
And San Diego a lot of opportunity but most of the people about 83%.
Of all of the purchases here of these bulk.
So you're buying in massive -- here they're all baking that in three to five years they'll be in the doubled their investment of today.
And that investment today is actually buying those properties for less than what the developer paid to build them.
So it's a great deal there all distressed properties all of foreclosures.
But the key is right now you got to have cash because.
The developers and the banks that are holding these distressed properties.
They don't want to deal with waiting for financing to come around and financings just simply not coming around fast and easy enough according to -- Yeah I -- well I'm still more properties that are not finished I mean there's a ton of undeveloped or.
Products down -- that the developers haven't even finished yet you still -- have more units coming to market could you potentially see these prices fall further.
-- possible however the square foot selling part right now is actually starting to increase right now going for maybe.
245 square foot but a lot of these people who plan to.
Roll these in football is Condo units in the next -- -- five years there really expecting it's gonna get to 300 dollars a square foot.
By the time they sell doubling their investment and you saw in the piece there we rolled around town.
As we shot the story you can see the concrete rebar sticking out it isn't going to be a big property lot of Condo units said.
The -- stop building because it was clear.
There was not going to be in the buyers out there for a while.
Failure awesome thanks so much for doing that for us.
Hey thank you competing there looking down in Miami my favorite place -- -- well Miami is a -- and generals foreclosure rules are different than ours.
Here you bat and I don't know them off the -- have in my head but here.
You go to court steps you have you come with a -- -- -- you have time to come up with a difference.
In Florida you basically if you buy something on the court steps in foreclosure you pretty much.
-- down an -- leading reason we have sixty minutes -- come up with a different city to have the money don't they got him -- here you can go by your property in the -- go to the bank and had a little something -- -- -- some cash out of somebody and floated.
He can't slow it down there it's yet either had to -- -- well I'm just -- -- -- -- the people coming it.
From beachfront Condo those -- -- 172000.
Dollars -- menace.
Solid after he should do know him and move down there yeah.
Down there forever yeah.
Are we think would break -- -- a lot -- -- to taxes -- -- this stuff negative -- I didn't -- I'm back foxbusiness.com live my mind is racing know it is because really.
I take a home equity line around my house and am presuming to get one.
-- good fifty grand I -- -- and they Obama some little place.
American -- that the interests this.
Right -- then real estate value dropped even more both here and there so much.
-- -- buying real estate in Miami on margin.
I am I am losing him but appreciating it I'm loving it mattered predominantly -- -- like settlement follows Washington's.
You just really just do you -- Another heart attack -- say it's about conservative investing ideas.
I mean I I'm I'm looking at putting my money under a rock.
You know -- and I read where water wears conservative opinions Daytona sort of gets the other concern actually gets you almost losing money exactly because of -- -- -- dollar on -- money market fund.
And yeah I mean I if you've had that a mix I guess if you have.
A mix the proper mix of investments in addition to that very risky real estate play this -- but is it risky I mean -- that Bonnie would say.
A nice place and I send my name is not going anywhere it is coastal beach front property.
Well I -- if you.
Barney would go see is banker and would do is accountants and the tell him -- -- to Jillian dollars the by 35 condos.
Like that you know those two folks that we just saw and I think -- -- In on that debt ceiling may not used to put it past him a -- a -- -- and I and it's.
College close to college kids are back in college easy.
Parents work there.
Focus is off to send these kids on a four year beer excursion and now I'm getting worse -- worse.
At that you never simple -- more there's a new course called zombies 101.
You do not know this is not the Obama zombies of anybody's heard of -- are zombies now this is zombies.
To what ever.
All these crazy zombie stories best zombies in history zombie movies not all things went there -- -- -- -- around.
-- -- like a history hit it's a history class and the -- it's a history of of the horror films four of the horror genre.
The right and that's what it is reform for good reasons -- or bad reasons that's for the classes.
A good time.
Let me ask you would you pay it you can't Kimmelman said -- On taken zombies -- won this Mr.
Well I I would say you you is your classmate liberal -- from Franklin Pierce -- live watches film foot clearance from liberal rob -- Franklin Pierce College.
Thousands Franklin Pierce when he had what you -- you are gonna foxy for you writing a novel a hole out in the woods holding hands it's you're.
You don't she's teaching zombies why no one -- -- claiming media -- I think that those are the types that you -- liberalized but -- site.
It's college isn't good enough and what do you do wouldn't college what he'd done in college to prepare yourself is -- taking zombie -- look.
You can take classes like that in most colleges now -- we went to school is doing to school of engineering schools but most college you deal very liberal arts degree.
Or or track or path and part of that is.
Taking classes real hold hands and you tell stories all they wanted to play the guitar -- Expensive it is for you know understandably didn't Charles Taylor and -- who might not mingle and get behind -- -- -- their losses and this is what some college kids.
Yeah I don't think -- years you can learn about zombies but couldn't get -- -- -- -- well rounded experience but I'm not sure I'm all about the zombie and what was the strangest.
This is classic took in -- I didn't take anything out with the Georgia Tech is a math and science.
In light duty you DL is very very straight -- -- -- did you take like approximate -- yeah that's -- well it's an all that's got hot shots which isn't in the entry level.
You out geology class in a lot of athletes and that's what it called a -- for jobs I I don't expect him.
The physics of the weather we've had to say it is plus 800 fitness -- that's how it's all of the weather.
But the weather class what actually talked about the science and physics of the weather was an interesting meeting -- out there outlook -- at -- clouds insane that's a cat that's done that the horse with a hat on it.
We we lean and mean literally wounds on the couple's visit the physics of the -- Yeah that at least you can you sending you could have tracking hurricane this week in and said.
And it's not come -- go away.
Here's the thing that David Danzig friend of mine that the -- -- has the ledger in his head.
-- -- what everybody goes and he know went to Tulane is a very good school lot of Smart -- very easily but they have classes at Tulane where they hold hands and talk about their feelings.
You know so I mean you can go to schools like that very liberal talk -- your feelings that come -- -- still be really Smart and very high terrible person.
As don't know what you're getting at him but I look back at college when I get -- -- college.
I would say that my favorite classes the mythology class -- and I and I -- you're my mother was crying when I signed up where.
But -- -- because it was really interesting -- learned about -- the Greek gods and goddesses.
You know a college really is 400 going off on -- -- and -- -- colleges for.
That is a test to see if you willing to put in the work.
They're literally -- -- -- -- was for us in Georgia Tech because all this stuff going to our heads all this math and science fair computers I can do all that math and science now.
It was a test to see here are you willing to stay up for two straight days.
And do things that you just you shouldn't physically deal -- possibly be able to do are you willing to put in the work if not gonna -- out.
If you lord here.
Naked -- slide and that's what I need to get out yeah you got.
A graduate of -- Yeah they're actually let's get the third and at the -- up for two straight days on the third day.
That's exactly what happened so you see that's part of that -- can you say Stanford teams I don't know man I lost the mind one mothers who had -- they had -- -- -- wake up and be ready if they'll put your time on and go back to work.
-- he didn't do that.
You're liable you know and so -- that we sell all around the -- they might then we'll come on and tell me it is first -- -- -- -- and looking for it.
For a high five from his mother and I like that about him and throw out what you -- your and I can see that's -- that he can be that he can feel comfortable enough and.
-- -- caught my -- you if you remember correctly about a month ago.
I was the field Marshal of the Fox Business never brewers.
-- General and field Marshal.
Palm consumer reports coming out with -- list of the top burgers taste wise.
They interviewed was -- 20000.
People in a survey.
And they said rank your top burgers from one to eighteen equity eighteen burger chains out there number 15 guys number -- in and out burger that's out west.
Number three foot brokers which I really like a lot of us this morning -- the -- but brokers.
McDonald's is last.
On this list very interesting McDonald's is probably the best franchise in the world.
You know it's the good it is in -- spur -- -- -- but as a great company in terms of the way they operate.
Impeccable and -- -- as a franchise where.
Can't do no wrong they are recognizes the best and we'll but yet a burger the worst -- of all these -- Mike Cassel beat -- sonic yeah.
I mean VMware idiom that her last February 18 out of eighteen -- -- is -- -- all about burgers a love that wait what what did you say it was first -- is small one dusting executives say that that's very small five guys -- Pretty good.
And had Burger King was the third which was third place that you would you expected to be some aspirin and I would think I mean -- -- -- -- very little knowledge -- fast food Burger King Wendy's rank what above McDonald's.
And you -- -- -- -- considering making these in place to be in the whole wide world.
Do you -- Jeff Flock is joining us from Seneca Illinois right now all -- all he knows quite a bit about McDonald's and McDonald's is based in Oak Park.
Illinois right outside of Chicago Jeff McDonald's just a staple and in Chicago isn't -- it's like it's a shrine almost.
-- -- -- Did you talk about food in McDonald's -- burgers McDonald's is COX hope it stays right there what is -- oak park Illinois right.
-- -- -- -- -- -- -- yeah exactly and you know speaking of which.
-- used cooking oil right there they -- From McDonald's did you get from McDonald's fan mail him.
-- live from vendors and they collect from many different quick serve restaurants to this it might have I don't know in this case -- it if he came directly from there.
How did a biodiesel plant this is the REG plan renewable.
Energy group plans outside Chicago actually in the town of Seneca Illinois.
And maybe you see it this is how bio diesel gets made.
We're talking to the presidency all of our Ricci today at -- -- hole about.
The president's tax breaks and you would -- really.
Rather had a targeted tax break to help your industry which.
Needs help it's a developing -- -- absolutely artistry is less than 10% utilized right now because we don't ever blenders tax credit.
And we fundamentally need.
It turns around and wonders tax credit before I think any additional capital -- dominant and so what blenders tax credits for those that don't know they basically.
Give a tax break to those who -- that some.
Bio diesel in with the other diesel yep absolutely so.
Yet essentially there's a dollar for every gallon that the federal government supports.
Biodiesel is so that it's a product -- -- parody with other -- -- that are widely subsidize themselves.
-- -- and and this is absolutely talking to people in business about what does business need well.
The -- is talking about capital expenditure tax credits and R&D tax credits.
You've already expenditure capital you've already -- your are indeed not that you don't continue to do it -- That's that the big benefit for you.
Yet -- it if if we wanna see this technology.
In this energy independence actually brought board right now.
What we need is predictable market place and predictable regulations so that we can actually run it in Ron Paul.
Yeah and it just to show you I mean I always look to see what's really going on there you see in these maybe -- -- streams of pipes and you know all that stuff behind this that's actually part of the distillation process so they can do.
But -- biopsies that this is what's called choice white Greece and Dan tell me where do you get that.
Well this essentially -- bat so it would live from.
The rendered we buy it from the the industry where livestock -- process stand.
That's what you started and so we turn and physical product did otherwise.
Ideas and animal feed on the chemicals this is a much better eastbourne I can pour this into my diesel engine not that I have a diesel engine but I could -- reported that they're not looking at other things.
This is -- -- corn oil now what does this come from what process -- systems this is -- -- -- oil not fit for human consumption comes out of they waste stream and an ethanol plant.
So this comes out with ethanol plant goes to way.
To -- biodiesel plant and again you make something that doesn't matter what color it is time now that they color doesn't matter there's little bits that -- and have nothing to do with the fuel quality.
In the feed stock will generally determine the color.
In many many ways interest thing well I just I'm fascinated by the sort that Owens beat.
Boy that's a -- of -- and things that you don't want to touch ability.
What we're we're great at taking natural and pretty is it.
Recycle fats and -- turn -- into something very.
Again I inevitable whether -- not drinking it.
Well that then that's a beautiful.
Container diesel fuel biodiesel that you could run any diesel engine on.
-- I think my -- ancestors may have distilled that back in the hills of West Virginia somewhere for human consumption that's right in the original diesel engine was actually built to run up in an oil.
Not not the colonies.
So we're getting back to senator Hillary so bottom line guys -- without talking to business what -- they need I mean nobody wants to turn their nose up -- the capital expenditure credit or an R&D credit.
But dairy industries that he targeted help -- -- one up because obviously it's it's a big help to the nation's energy security.
Always great to make something here you know they have it.
This terrible what they call -- refining capacity to move -- -- diesel or.
A regular gas in the US for her petroleum this is new refining capacity yes absolutely.
You know every time Avery one of these plants on line -- adding new production and putting energy that's been produced in this country in the hands of our drivers.
And you don't have to buy product from overseas.
Well said Dan -- president CO all renewable.
Energy group -- -- -- Ames Iowa Jenna and I -- this one question.
What -- I asked him what in particular would make a difference and cause him to go out and hire someone today because I agree with him.
Capex spending R&D credits useless for today what does he need today.
Great question Tracey asks it to -- make you go out today and hire somebody new.
What would you need is a businessman.
What would be most helpful for you to add people at this point.
-- that -- be most important thing is predictability.
Again without knowledge of this this subsidy that has been there it's been a perfunctory approval for years.
No more but -- bipartisan support.
In congress than than ever wonders -- -- -- itself and everybody would like to -- but it's just stuck.
Just do it and and make it so that you can count on as a businessperson you need predictability so you can make plans going absolutely we've we've been living with the year -- year approval multi year biodiesel credit and we -- -- spread a question if you got that you could then bank on additional gain the additional need.
And you would start to because Tracy.
I wanna say I didn't ask you this question -- that you there's three pieces of this plan I hear the one homing in on the right hand side the -- -- seem quiet.
Yeah I would hire people who run those other two if you had -- need my full expectation would be we continue to improve this facility and yet more jobs this subject -- -- 38 jobs here how many more you're Rambo weather I think we get probably get over fifty.
There's several jobs created Jeff thank you have gone up for me -- appreciate.
Experts only -- -- I cannot take my complete non set for McDonald's and a transition into biofuels.
Great -- -- from wanna thank Dana the president is -- renewable.
Energy group as well we think -- break when we come back we continue talking about taxes and what it could mean in what it probably will mean for you with these latest the proposals.
-- -- only hear from the president actually 2 o'clock today compensated.
-- -- -- bad time on would now.
-- Tracy Byrnes Chris -- is back with us again the Dow is up seventy points it's a nice flat green block actually.
We started day out we pretty much stay there considering there's like.
I say this for people back -- is pretty much back kids are back in school although we do of Jewish holidays coming up so we're gonna have attacking weak.
That being said we'll take a positive seven points and -- -- -- talk about the president's 200 billion dollar.
Gifts so to speak to the small businesses out there he's gonna announce details at 2 o'clock today we're gonna get more information on the tax breaks that he's gonna offer people.
Even so this year tax practitioner -- -- & Associates to talk about all this.
-- -- I'm gonna tell you my gut with these with all these cuts is that it's a bunch of PR.
Because he's -- -- these breaks capital expenditures in particular and I know we're gonna talk about this this notion that you can write off.
-- -- on by big -- today great all off today.
Means nothing to the guy who can't make payroll.
Can afforded by the truck in the first place.
That's an excellent point but additionally a proposal.
And the finished product may be too profoundly different things.
That you're saying that you're saying about.
Who's going to be allowed didn't truly take the 100% right off well that's exactly right because right now it's just say.
Foggy notion that may sound good -- can't but help but wonder that there might not be some degree of Machiavellian.
Advocates see here.
Where if they put this forward.
Than leaving it with all sorts of various problems.
Maybe the other side of the aisle will say this is unacceptable it's not that good -- it we just reinforce that party of now.
Which sort of gets to the point the fact that and I said OK these these -- tax breaks are fine.
At some point in time and it's tax code needs to be re written in rethought because it's just too big and this is sort of part and parcel of what you're saying.
By the time it gets done it's gonna go from the headline at the present is gonna speak about today Cleveland to.
Hundreds of pages of gobbledygook that is gonna -- eliminate.
Prevent half the people that would have benefited from getting involved in the first place so it's sort of like.
There's a bigger problem here and it's this tax code is.
It's -- Davis but isn't it favors right.
Well I know now -- I am a firm believer in the internal revenue code even though it is expanded exponentially.
Has your business because of it -- but I think that's very true I grew up dog -- -- -- back.
However the biggest problem is a lot of the laws and guidelines are seemingly contradictory.
They all have to work together and that's really one of the issues about when you say okay we're going to allow for this opportunity.
The actual compliance.
For regular individuals or business owners.
May be wildly different than what it's been described to the public and that's a real issue.
Right because to chris' point by the time they write it all up the only guy that can take this 100 -- -- right up will be you know some guy who makes.
Wallets down in Chinatown and has won like by the time you get through all the exceptions it's not going to.
And this is a law of unintended consequences over and over again with this administration we keep seeing this race so we're using tax code.
To make -- more voluminous as a book of favors as a big PR solemn to say I'm giving you tax break look -- making all better but that's not gonna create jobs.
That fact and I don't think we can necessarily look.
Too short term solutions to solve long term problems.
I love the idea of decreasing taxes I think we all pay too much taxes.
And then there's a significant portion of our population that is not paying enough.
And those are not the upper Echelon earners quite the opposite of the people who are engaging in commerce.
And just not paying a thing receiving refundable credits that they probably not even -- -- -- I taken issue with additional -- to -- an issue with the we're spending of our elected officials.
I think there really should be some accountability here because it's not a bottomless well.
What do you think about that sex just in general as as -- I'm opposed to it and I'm.
Vigorously opposed to it I don't think it's conducive to business and we need business.
In the United States.
And any additional burdens of that is detrimental.
But you do to actually -- -- you know that.
When -- appreciate something over the course of four years or five years or three years even.
It's is sort of like a little -- -- get every year to offset whatever use you know any kind of -- income you -- So we're presuming that all the -- next year's going to be great year and we're not gonna need these did you know depreciation write -- we know -- -- hill I agree it's all doing is weren't more.
Kicking the can down the road again -- another way of kicking the can down.
Would just like to say one thing I don't want to mislead any of your audience here we actually do defense and representation.
We don't prepare tax returns look -- -- I had really planned that attack certainly it's okay -- you know we're saying absolutely I -- one about a flat tax is what are your feelings on taxes in general because there are alternatives to like we said.
The tax code that's like dad -- that as loopholes and everything else all it a flat tax would do your point tax everybody.
Maybe sell it smacks of a simple solution to a complex problem -- is the flat tax -- -- like going to be applied to corporations and businesses are they going to stay in the remaining system.
How will that work for flew through corporations.
And how much.
Are you going to be taxed watt light.
I've heard a lot of numbers and -- around I think what we need to do again at the risk of being redundant is.
Demand our elected officials and -- -- more responsible spending.
But then what happens.
If there's no flat tax there's -- back tax.
It might take away from -- business that's that on the table right but what's left re doing the internal revenue code and mean.
No one wants that's not talk about kicking that can down the road everyone's gonna put that off for the next administration and then it just gets bigger and they here.
That's a fact but unfortunately.
A lot of the people who are tinkering with these.
The codes and rules on the guidelines.
I've never run a business or been involved in the business and things theoretically makes sound very good.
But in the actual -- and moments of conducting trade and commerce it just doesn't work it becomes very complicated.
So as far as revising the entire -- -- -- I would not recommend anyone undertake that all it -- least you.
Experience all of these unintended consequences were trying to avoid.
-- David have the blessing from god who was within the last couple of days I've seen a report that said.
Are hiring in the in the finance industry particularly financial planners in accounts is going to be.
One of the areas in addition to health care we're really gonna see a lot of jobs created do you see that in the next year two years because of the tax code because of people worried about taxes coming up do you -- -- industry really sort of they had some professionals.
Well I certainly hope so high.
Don't think it's -- that -- -- hear that people you know retain competent counsel.
I personally have not seen in -- a big spike in lesson that I would certainly hope that's because.
Because it's very confusing Simmons just -- on the boards that someone should finally roll up their sleeves and tackle this IRS code.
And I think that is the only answer right now unless we go to a flat tax or consumption tax and that -- have you wanna call and there's no other way to do it.
Think of how many.
And I wanna save billions of dollars I don't know the exact that.
How much to corporate America spend on getting ready for like seagate remember all -- the hullabaloo about that was -- -- going to be the end of the world.
-- we have -- -- -- the change all the computer programming and billions of dollars was -- getting ready for Y two K why can't we look at this in a similar -- just say we have.
To tackle -- this is going to be that did the tax world's Y two K and just make it simpler.
What it would really be but if if if somebody ever did that.
And save the government a year from a lot of money to go in that you can retired -- -- worry about the very complicated IRS code.
And he wouldn't it.
It hurt -- industrialised it would make it easier on everybody else maybe maybe not again because the problem with this issue is a lot of the.
Fruits of your labor will not bloom until the coming years.
And you may find that revision was no benefit whatsoever -- -- you may not know until -- you.
Either way the way Cheney's right now is.
And I keep saying it's a book -- favors you know.
Farmers get a tax break because somebody spoke up from the farm states and nobody speaking up in new York New Jersey press I don't know why so we keep getting hammered left and -- and it's just.
It's not being used the way it was originally and spend a -- that's why we do but we don't need to be taxed come up.
You can have a little -- in Miami who weren't tax.
It's kind of your little one film David thanks to -- -- thank you very much for having me thank you their data sales tax practitioner at -- associates here in New York City I mean.
You know -- a direct attack about this all day long.
I do but.
It's only have to be in this is ridiculous.
And the -- promise.
Tim in new tax breaks -- -- -- tax.
Credit or something sounds so fabulous as a headline Olympics comes to shove it's not gonna mean any.
Let's let's face it this is a very political as much as it is -- -- with what the president is going to be talking about today a lot of political undertones you want them officially.
-- we talk about fishing right now we do -- stand ready.
I don't know -- know what's the what's the great thing a break and we'll come back what -- will efficiently combat tank I -- know anything about -- good thing.
Well I knew where they -- -- is -- so you I'll take a break.
Market continues to show green up 81 points on the day that's committed ownership stake in the I thought I'd give it -- more time -- talk about dessert -- a little -- that's.
But first he got it's wedding -- had initiating means he's not you know it's good -- he had talked about fish.
You know the main course before you can get into the desert so let's do that right now -- -- Dan -- From our Seattle bureau you know all the talk over the last few months and rightfully so has been about fishing in the gulf and how that industry's been hurt well Dan.
There is you know the fishing all around the country and there are other parts were fishing may be hurt even more so than policing an -- Over the last couple months.
Yeah -- not only fishing jobs in the Gulf of Mexico but all sold jobs period.
Right now we're talking a -- the need to create jobs and the Obama administration Democratic Party which is in power is getting hammered for not creating jobs.
And this -- proposal this variation by the national marine fisheries service.
Would actually kill hundreds of high paying fishing jobs that would also have residual effects on the lots of industries.
And businesses that read that read you know depend.
On those fishing jobs up there in Alaska and it's all well the -- line.
The -- line has been studied for over a decade they've looked at the population of the western.
Stellar sea lion -- of the on the western edge of the Aleutian Islands and -- noticed that has declined 45%.
Over the last decade.
And so -- looking out what could be possibly causing this and one of the possibilities.
Is the lack of food.
They're seeing lower and lower ball rates birth rates and they think that it could be due to lower weight so the females.
And -- they've decided that one thing they can do now is to go after the fishing industry rate they're off the -- solutions that would be that the bulk of the diet for the sea -- the act a -- -- And also the Pacific cod.
And so that they have been recommended closing those two fisheries starting in January 2011.
And that is a sixty million dollar a year industry the fishermen are livid they say look you cannot say for sure that this is the reason why the sea lions -- -- decline by the way the eastern sea lion population is doing just fine actually going off.
And there's fishy going on over there as well so all the fishermen are really incredulous you're there wondering why they're getting hammered here at a time when the country is trying to.
Actually create jobs and this would actually kill jobs.
-- -- One -- real quick on this.
-- want -- fishing in the industry tightly controls.
Fishing so you don't older fish and -- whether it's in the -- whether it's off the coast of Alaska.
And they're controls in place or had -- been over the years to make sure that this particular -- -- -- in the Pacific kind of not -- older finished.
-- I know there's absolutely controls in place in fact that that the Alaska fisheries commission does an excellent job of managing.
The size of the fish populations and this is not a -- the fish populations there are plenty of mackerel and plenty of Pacific cod.
This is really about what effect fishing in general of those two species of fish.
-- on the western stellar sea lines so -- again this is not a ball.
You know we are in danger of losing this fishery because the fish aren't coming back this is about what impact -- the fish.
Having on the sea lions.
And again that could be a lot of reasons why the sea lions are in decline and that regional of Alaska could be the fact that the killer whales really do -- number.
I'm not sea lions and it could be ocean conditions it could be.
Disease they just don't know but they say one possibility could be the fishing industry this is what we can't go after this and what we will go after.
Chris thank you very much -- sixty million dollars it and is well thank you Dan appreciate that Dan -- from our Seattle bureau talking about fishing off the coast of Alaska.
On the bolts and I'm sure that's a big part of it that they -- that the people it's affecting the I can't believe somebody hasn't said global warming.
Is why these seals -- so I -- -- -- line -- -- -- are like the best to see when you go to visit.
Do you know you have to be totally up to date here's a look today at proficient at vision out there.
You to be completely up to date have -- come on in child support payments or you will not be issued a fishing license.
Is that what it is blonde look thank you for that little I am chock full of tidbits by the way I don't know if you've noticed this year that -- over here that's longer brought.
He's -- -- artist which is the greatest thing that night he had heard -- -- title as a shooter.
Artist you loved that done is it's -- Yeah.
You know it was bestowed upon me the you know I it was a great nickname is not self given of course but it.
-- cake decorator and I -- designer you hasn't cake decorator you I mean it's like it's artistic.
Wedding cakes and it almost seemed to -- right all adding that okay expert put it -- -- to dive for cakes -- that don't look like -- when they're done.
And as I told you before you came in at island a huge fan my daughter now huge fan of all I don't know what happened.
Reality TV went into the lake the bakery because it is everywhere she watches all of it and she's passed.
It's actually with people several wonderful that like.
But these tween girls are so excited about certain weeks and getting -- containment at this moment his infant -- for a com.
-- -- -- and look at look at my -- MS -- winning case or eight minutes remaining letting.
-- but they used to be like one step above easy -- cupcake.
And now on the side in the wedding cake is there is a really big deal and off the charts price rises it's really made it big jump in what twenty years -- years.
-- how long time we'll just -- -- didn't make it that yeah I.
And yes and it's you know it's -- Minnesota a luxury goods kind of Kate yeah -- business so you know expensive and time to talk and you have to make the best of it you know this is he really if you really need to I think that because this is -- recession.
Because it is not as much disposable income everyone's feeling -- I mean I've been busy but I certainly feel it.
This is a time where people could become creative -- -- with all that down time.
When it instead of worrying about.
Oh am I going to be making this -- in that case I mean I'm just like.
I'm just really creative and now I'm drawing and painting and working on the line of news of housewares and wall coverings.
And -- kind of zero.
-- Only X-Men okay because you -- -- busy and you are and we talked to people even though Chris is not its highs and we talk about weddings and wedding industry has been relatively recession proof.
Selig is yeah mine miles this get -- spin has held on you still have people come in saying I won't pay you ten grand for cake yet -- what.
This has got to be different -- -- I didn't pay ten grand you have to do XYZ for me or something like that yeah.
All the differences that you know people -- -- that I cake makers out there -- -- who make -- for less money and it's something that hey you know but course.
But -- never be -- nice gig at the very different thing you know you just.
I think that.
I think it's just important to see what your client needs.
And if you need and -- if -- like I can easily say well you know if you don't have X amount.
About to -- on this.
I'll tell you what my time is -- and this and I can work I can break down the designer -- because of something beautiful.
As long as the work looks beautiful -- -- As long as I'm happy with -- and they're happy with it then that's great.
You've been incorporated for five years -- -- been business for eighteen years you are you worried about what.
The administration is doing proposing to do moving forward and -- did the impact on your business.
Now doesn't sound like -- something you're moving right -- -- I'm happy.
Now that I'm really though I you know I have a very small business and when you have such a small business you know you have.
There you have the luxury of not overseeing a lot of people you know and you know you know I have I have a kind of -- -- it's -- it's this little old me you know you know though.
I play I'm not really thinking about that and I think that for all where we're creative people in -- creative small business especially this is the time.
To think do things that you didn't want that you didn't have time to do before it get creative I think my sketch book wherever -- go.
And what's gonna happen we get out of the secessionist and you -- work out there.
So you -- -- welcome -- two -- once you're on TLC's ultimate kick off.
You -- this this also help -- Bryant and now we're expanding into other things clearly not leading -- not only creating my -- I don't even know what but -- don't -- Martha Stewart esque thing but like.
One stop shopping Margaret does it all kind of thing yeah.
Hello I'm a designer I'm an artist and I fell on the cake decorating kind of by accident was like the best thing that I happen to me it was really good that it amid great business of it.
But I've always been interested in the -- in -- you know.
And kind of food related design.
I know -- being a little -- could -- and it you have to I'll have to come back.
Don't tell in a few months from the time when you look back and you've got -- -- yeah OK okay you gotta bring -- that way this is second time okay.
We have to remind them combined them drawings you wanna see you realize you're gonna and I definitely -- -- along with those I would be streamlined.
So much trouble you are but but -- We're showing pictures -- -- cakes.
They are at their stunning and not I mean my daughter and I had to say and then there's -- it has their group.
We -- -- at this Margaret thank you for being here come again.
Thank you for Chris but bring your -- and I think it might well I'll -- and I promise to watch -- And -- -- what is the name of the book by the way and go get the Burger -- doesn't want to thank you guys yeah guys.
They were artists -- -- penis you could be sugar daddy came into.
I'm getting close to set a birthday coming weeks ago so I'm getting close I -- -- see your part though is that from.
But -- a new contract we are getting a brilliant film tip off.
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