Jump to content


Burj Khalifa 2,722'
  • Content Count

  • Joined

  • Last visited

Community Reputation

105 Excellent

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Overall, it seems like this has been met with a collective yawn by the public. That is not a good thing, especially for the Dems. Back when Clinton was going through this, it was the top topic on every news and radio station at the time, even the rock and country stations. Now the Clinton thing involved a sex scandal so that played well with pop culture. Most people are not interested in international affairs. Point being, nothing so far is moving the needle of public perception. Hearsay rumors and innuendos don't translate well to creating the public outrage needed to have a meaningful impact. So what we are left with is a wasted 6-9 months of impeaching the president and nothing ever really coming from it, and it will be seen as overly political instead of seeking justice against a corrupt individual. Did we not learn anything from the Clinton scandal. The reason why Watergate was so powerful is because you had collective outrage of both sides of the aisle. Hard evidence had surfaced where you could not defend the president's actions and Nixon was left to fall on his sword. Until more than hearsay arguments come out, the GOP will not have to abandon Trump.
  2. So which project will be finished first, the 4th and Walnut hotel or the Kimpton?
  3. The one thing I noticed driving around Cleveland the last couple months is that it seems like there are quite a few homes for sale (in the nicer neighborhoods) compared to what I have seen in Columbus and Cincinnati. I was in Avon Lake and Bay Village recently and Chagrin a few weeks back and considering it was the slow time, there was quite a bit of inventory on the market which I found a bit odd for this time of year. I have not seen that as much down in Cincinnati or in some of the Columbus neighborhoods, at least to the extent it stood out in Cleveland.
  4. To even add onto your point. If you want to see a rapid destruction of capital, the wealth tax will do that. Depending on how much pain Warren wants to provide by it, you will have significant paper write downs of asset values to escape the wealth tax thresholds, not to mention the people who will be chased to invest in new exotic investments as a way to escape the tax. You will also have a significant slowdown in lending because banks will not be able to lend because the value of the assets on their books will have been significantly diminished. Many loans to good borrowers may need to be called in because of the new diminished capital values and paper write downs, as the asset no longer conforms with debt covenants. It could essentially create a 2008 type contraction as lenders will not be able to lend. But..... hey, at least we stuck it to the rich guy.
  5. Depreciation is a form of consumption. If it is a 5 year property, it is deemed to have a 5 year "useful" life. Useful is the key term here, not to be confused with "total". In each year, you consume 20% of the value of the vehicle based on the indexes used. So yes, it is ultimately based on consumption. In most states they are pegged to a Kelly Blue Book or some common index. If the vehicle is totaled out or a complete loss, there are ways to get it down further in many cases but it is a bunch of paperwork
  6. 1) That is still fine. You operate at one tower. You still collect taxes on those rooms to continue to contribute to the overall downtown room pot. Maybe those rooms go somewhere else in the city maybe they don't. 2) It is easier to keep an operating property up as opposed to a vacant one. I know it is subject to demolition, but do we want another white elephant like the Terrace Plaza to deal with. Not a problem if they tear it down in early 2020, but again, without a plan, why have an empty lot for a few years at such a prominent corner.
  7. Heard Julie Calvert on the radio today. Essentially, they are working on the plans for what to do. Don't know if they will expand over Elm or go North over 6th Street. That could be months away. If you don't have the plan for building the convention center expansion, then to me it makes it hard to move ahead with the construction of the new hotel. obviously the drawings reported on last month are far from coming to fruition. My big concern is that they close this asset which is performing, tear it down, and then not have a viable plan for moving forward, or it gets mired in city politics. We are then stuck with an empty lot for a few years until city council gets its head out of its a$$ and figures out a viable plan.
  8. THe worst thing that could come from this is that they close this down and it sits vacant for years until they come up with a plan on what is going to happen next. I think this is the likely scenario as it does not seem to be that there is a cohesive plan going forward. Don't close the hotel down until you know what you are doing first.
  9. They are consumption taxes. In Kentucky and Indiana, the personal property tax phases out after 5 years and are essentially based on the amount of consumption. If you have a 10 year old car, you are just paying a basic "fee" for your tags, if you have a 1 year old Mercedes you pay a lot more than the 10 year old chevy for your tags. However, at the end of the day, these taxes are tied to consumption. The wealth tax is essentially taxed on the "perceived" value of a person's wealth and assets and is taxed just on the fact that they hold the asset, whether it is income generating or not. It creates a disincentive to investment or incentive to pursue risker investments. In addition, it is extremely difficult to measure. Most of the assets that make up such a portfolio are unique and illiquid. Take Donald Trump for example, on some days, he claims he is worth $10 billion, on others he claims it is $2 billion. If the tax man asked, it may be even less. The reason being is that the value of his assets is very fluid and illiquid that it can be whatever you say it is at a given time. This is a horrible way to tax people, it will create huge admin burdens and be extremely difficult and costly to enforce that it is almost not really worth the time. This is why almost every European country that has had a wealth tax in the past has repealed it. It is just a stupid idea.
  10. The thing about Shultz is that he is truly a moderate in the vein of Klobucher or Biden or Buttigieg, where they stake out moderate positions and seek to find conciliatory terms with the left flank on issues that may be important to them. Bloomberg's issue, for better or worse, is that he is hard left on certain issues like Gun Control, or the Environment, but he is hard right on issues dealing with crime and punishment, border security and the military such that he does not really represent the center of the Democratic party very well and while adding things up, he may land in the center, there is really nothing centrist about his positions.
  11. I would imagine it is likely to do with his stop and frisk and no broken windows policy on crime.
  12. I think Bloomberg would be disastrous for the Dem party in the election. He is a liberal who is very authoritative and unapologetically tough on crime. While he may say the right things on gun control and the environment, he would really turn off a lot of progressives. Moderates may rally around him as a suitable alternative to Biden, but the big difference between Bloomberg and Biden is that in my opinion, Biden appears to be more conciliatory and open to discussion with his political rivals on the left whereas Bloomberg appears to be set in his ways and feel he knows best. I don't see him playing well in Iowa and some of the other Midwestern states as he is too authoritative, however, I also don't see the progressives playing well there either. I can see his entry leading to a brokered convention and if he wins, a ton of progressives being turned off, similar to 2016, and refusing to follow him.
  13. property taxes on real estate are more use taxes than a wealth tax also, real property tax is highly inefficient and easily manipulated by those in the know. It is not a great way to tax wealth. When you have an inefficient marketplace such as fixed assets or real estate or closely held companies, you cannot easily determine the "true" value of something.
  14. ^ Because as a country we have always valued individual property rights and that they are controlled by the individuals not the government and a wealth tax runs completely contrary to that principle
  15. That may be the case, but there is something inherently unfair about taking someone's rightfully earned property.
  • Create New...