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Thread: It's about damn time!

  1. #111
    Senior Member TJMAC77SP's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by imnohero View Post
    AA, just skip it. TJ is very invested in being right all the time, even about things he admits he doesn't know about.
    So what part of hemi not being related to the number of spark plugs was I wrong about? What else specifically have I been wrong about (and not admitted it)?
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    Senior Member AJBIGJ's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by TJMAC77SP View Post
    Well, the same search would lead you to the return on investment that BH and other venture capital and private equity companies earn. I would compare that to sales and that number far exceeds $100 million. By the way, should have read more on Google. Buffet only takes a salary of around $100 K each year. The rest of his millions made every year is in capital gains (which is why he only paid the famous 17% income tax rate and my biggest disagreement with Mitt Romney).
    Which is what allowed him to make the comparison with his secretary's salary back when he made his little dubious "Go ahead and tax people like me" spiel a couple years. If his earnings were all income tax based he would not be paying a lower percentage of his income overall than his secretary by a LONNNNG shot (this is also why I'm extremely suspicious of individuals of his stature who develop a sudden interest in charitable givings, would make such a claim as "Go ahead and tax people like me more!", and whose primary expertise is in moving money around to maximize its returns for himself). The point was occasionally relatively small workforces may be required to operationally support businesses with very high revenues, which are the types of organizations that also pay their CEOs a large salary whether it be via direct income or capital gains or some other variation of compensation. We were discussing total compensation to begin with, at least in what I read of it. Whether his income is tied to direct salary or capital gains or whatever the case is a side issue.
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  3. #113
    Senior Member Absinthe Anecdote's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by imnohero View Post
    AA, just skip it. TJ is very invested in being right all the time, even about things he admits he doesn't know about.
    I think so, I explained to him the correlation between dual spark plugs and the Hemi, because he asked, and then, he points out that he didn't say anything wrong.

    He obviously isn't a car guy.

  4. #114
    Senior Member TJMAC77SP's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by AJBIGJ View Post
    Which is what allowed him to make the comparison with his secretary's salary back when he made his little dubious "Go ahead and tax people like me" spiel a couple years. If his earnings were all income tax based he would not be paying a lower percentage of his income overall than his secretary by a LONNNNG shot (this is also why I'm extremely suspicious of individuals of his stature who develop a sudden interest in charitable givings, would make such a claim as "Go ahead and tax people like me more!", and whose primary expertise is in moving money around to maximize its returns for himself). The point was occasionally relatively small workforces may be required to operationally support businesses with very high revenues, which are the types of organizations that also pay their CEOs a large salary whether it be via direct income or capital gains or some other variation of compensation. We were discussing total compensation to begin with, at least in what I read of it. Whether his income is tied to direct salary or capital gains or whatever the case is a side issue.
    Well, his earnings are income based but the difference lies in how the IRS taxes varies types of income. I personally think that all income should be in one category. The capital gains tax rates are generally lower than 'normal' tax rates. The argument in support being that this encourages investments. I think that is bullshit. What would people like Buffet and Trump do with their money if capital gains were taxed at the rate your income gets taxed at...........the same.....they certainly wouldn't stick it in their mattresses.

    Anyway, MY point was that a company employing 3000 people and with sales totaling $100 million is not going to pay their CEO $5 million per year.

    If you are going to lump all of Buffet's earnings into one lump sum then you must do the same with the earnings of BH and that would be a lot more than $100 million thus still within the point I was making.
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    Re: It's about damn time!

    Quote Originally Posted by Absinthe Anecdote View Post
    I think so, I explained to him the correlation between dual spark plugs and the Hemi, because he asked, and then, he points out that he didn't say anything wrong.

    He obviously isn't a car guy.
    Well, since this thread long ago went down the rabbit hole we might as well keep going.

    Actually no imhero isn't right (other than I am self-admittedly not a car guy). I said I wasn't trying to be snotty but if you want to ride imnohero's fail then so be it.

    What you explained has nothing to do with the designation of what make an engine hemispherical (Hemi). Dual spark plugs are in one type of Hemi engine and in fact appear in non hemi engines as well. Most hemi engines remain single spark plug per cylinder. THAT and that alone was my point in reference to Goat's original post regarding his working on his goat.
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    Re: It's about damn time!

    Quote Originally Posted by TJMAC77SP View Post
    Did intend to be snotty.
    Quote Originally Posted by TJMAC77SP View Post
    I said I wasn't trying to be snotty but if you want to ride imnohero's fail then so be it.
    Better go back and edit that one, TJ.

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    Senior Member AJBIGJ's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by TJMAC77SP View Post
    Anyway, MY point was that a company employing 3000 people and with sales totaling $100 million is not going to pay their CEO $5 million per year.
    At $100 Million in sales, no, you're right then, it is not really numerically feasible. My point was revenues are not necessarily tied to the number of people working for the company by itself, depending on the types of products or services delivered. Simple math though. If revenues are higher, operational costs lower, and human resource cost already low (fewer people employed = lower cost) then higher salaries for upper management are quite feasible, especially if you factor in the Capital gains.
    "The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first." ~ Thomas Jefferson

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    Senior Member TJMAC77SP's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by imnohero View Post
    Better go back and edit that one, TJ.
    I wasn't trying to be snotty to AA. No need to edit anything.

    You working on those examples?
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    Senior Member TJMAC77SP's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by AJBIGJ View Post
    At $100 Million in sales, no, you're right then, it is not really numerically feasible. My point was revenues are not necessarily tied to the number of people working for the company by itself, depending on the types of products or services delivered. Simple math though. If revenues are higher, operational costs lower, and human resource cost already low (fewer people employed = lower cost) then higher salaries for upper management are quite feasible, especially if you factor in the Capital gains.
    I get your point.
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  10. #120
    Senior Member Absinthe Anecdote's Avatar
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    Re: It's about damn time!

    Quote Originally Posted by TJMAC77SP View Post
    I wasn't trying to be snotty to AA. No need to edit anything.

    You working on those examples?
    I'm just screwing with you; you can be as snotty as you want, but it is obvious you aren't a car guy, and that you are heavily invested in being the winner of each and every internet squabble that you find yourself entangled in.

    You can pretend to be the winner of this particular squabble and bask in the warm after-glow of a masterfully crafted retort, but keep on your toes, because, imnohero is watching.

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