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Tuesday, March 26, 2013
The Pope of Foam Explains the Science of Beer Brewing
Monday, March 25, 2013
Privacy Will Cost You: Co-op and Condo Tax Abatement To Be ...
Buildings with lots of LLC-owned apartments like the Laureate are likely to suffer the most.
During the past decade, it has become increasingly popular for? home buyers?particularly those with bold-faced names?to shield their identities with LLCs and trusts. By using an LLC, a privacy-minded person can (usually) prevent sleuths from salmon-colored papers like this one from dredging up their purchase from city records and exposing how much they paid and what their new kitchen looks like.
But while such identity cloaking has become all but de rigueur for the celebrity buyer and a matter of preference for other press-averse people, the cost of privacy is poised to go up considerably. That?s because the city?s co-op and condo tax abatement, which has been enjoyed by nearly all co-op and condo owners at a sizable 17.5 percent since 1996, will no longer be available to those who own their apartments through LLCs or trusts. The change will mean considerably higher taxes for some 7,700 property owners.
This winter, the State Legislature voted to extend the condo and co-op tax abatement?which was initially enacted as a temporary measure eliminate the discrepancy between the taxes on single family homes and the much higher taxes on homes in multi-unit buildings?through June 30, 2015. But this time around, the Legislature decided to exclude pied-a-terres from the abatement program?a category which the city?s Department of Finance says includes all trusts or LLCs.
?There is no provision in the new coop/condo abatement law that allows the beneficial owner of a trust or an LLC to qualify for the benefit,? Department of Finance spokesman Owen Stone wrote to The Observer in an email explaining the policy change. ?As you know a new law was enacted last month that restricted the eligibility for the coop/condo abatement to only primary owner occupied residences. We have not changed our interpretation of the law- the law has changed. Under the previous law, there was no restriction, and LLCs and Trusts could qualify, under the new law, they do not.?
Which has not stopped many in the real estate community from slamming the policy as unfair.
?They?re penalizing people who want their privacy or the convenience of owning in a trust,? said Eva Talel, a real estate attorney at Strook & Strook & Lavan. ?For reasons of privacy, not wanting the world to know what you own is perfectly reasonable at any income level, and to throw the people out of this abatement problem seems to be fundamentally unfair.?
?I think there must be a misconception somewhere down the line that things like LLCs or trusts are for rich people, but you don?t have to be rich or advantaged to put your home in a trust,? she added, noting that given the high cost of New York real estate and its rapid appreciation over the last two decades, many New Yorkers count their home as their primary asset. Why should they be punished for trying to lessen their tax burdens in a perfectly legal way?
Even co-op boards, which are notoriously hostile to pied-a-terres (and for demanding reams of personal documentation and disclosure from potential buyers), have started acknowledging the need for trusts in estate planning. More and more of them are now allowing established residents to transfer their apartments into trusts.
?No one would have expected that there would be adverse tax consequences to buying in a trust or an LLC. There aren?t otherwise,? she said. ? I think they made a social engineering decision that these units were owned by more affluent people in more affluent co-ops and were therefore fair game.?
(Another real estate professional likened the change, coming in conjunction with larger tax breaks for less valuable co-ops and condos, to ?class warfare.?)
Ms. Talel also pointed out that the decision to give the tax benefit to only some condo and co-op owners violates the spirit of the original abatement, which was intended, in lieu of more far-reaching tax reform, to equalize the tax burden on single-family homes and those in multi-unit buildings. Townhouse owners are not subject to any restrictions or requirements, primary residence-related or otherwise, to enjoy their lower tax rates. Why should there be a different standard for co-op and condo owners?
Mary Ann Rothman, the executive director of the Council of New York Cooperatives & Condominiums, told?The Observer that the Council begged the Department of Finance to reconsider their interpretation, particularly in respect to trusts.
?We told them that 99 percent of the time, there?s an agreement between the co-op board and the trust that only the trust-holder will live there,? she said, adding that trust-holders can apply for other benefits, like the STAR program.
Ms.Rothman said that building managers are up-in-arms about the changes to the law, which will be phased in over this tax year and the next. It?s also a relatively recent shock?while the primary residence requirement has been anticipated for some time, few anticipated that trusts and LLCs would be excluded from that category.
An additional problem is that in some condo buildings more than three-quarters of the units are owned by LLCs?a serious problem for developments that used the tax benefit for maintenance or capital improvement projects. Now, managing agents will need to either raise maintenance fees or figure out how to cover the lost income.
For its part, the Department of Finance says that its hands are tied, but that it is exploring the possibilities for extending the benefit to some trusts.
?We are continuing to review our options regarding eligibility for beneficial owners of trusts,? Mr. Stone wrote. ?We will listen to the concerns of those who have questions regarding the eligibility for beneficial owners of trusts, and will take them under consideration.?
The department is unlikely to hear many complaints from the property owners themselves, though. While LLC owners will no doubt grumble to their friends, their lawyers and their property managers about the new ?privacy tax,? we don?t anticipate many outspoken opponents or resounding outcries from a group that prefers to remain off the record and under the radar.
kvelsey@observer.com
Follow Kim Velsey via RSS.
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A Book Of Dares
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Being nosy teenagers, they decided to explore Mr. Jones's house more. We find a thick book with buckles around it. Opening it was their biggest mistake. They have to finish the 50 dares before their lives come to end. Once your in, you can never get out..
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This topic is an Out Of Character part of the roleplay, ?A Book Of Dares?. Anything posted here will also show up there.Topic Tags:
Forum for completely Out of Character (OOC) discussion, based around whatever is happening In Character (IC). Discuss plans, storylines, and events; Recruit for your roleplaying game, or find a GM for your playergroup.First post: ? 2 posts ? Page 1 of 1
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States Target Non-Military Drones
Privacy advocates nationwide are concerned that numerous bills being presented to control the use of drones for research and rescue efforts in the United States may not be enough to protect Americans' rights.
Drones are increasingly being used by agencies such as police and fire departments, reports NBC News, and many agencies say the small flying machines are becoming crucial devices. The Federal Aviation Administration has been tasked to integrate drones into the U.S. air space by 2015, but their use for non-military purposes is already growing.
State officials are busy working on bills to protect residents from privacy and safety concerns. For example, Oregon lawmakers have proposed a bill to require anyone who operates a drone to be licensed by the Oregon Department of Aviation, according to the network.
In Indiana, a bill won't allow a news station to use drones to survey traffic or allow law enforcement to send them out searching for lost hikers. In Nebraska drones can't be used to gather information or evidence except in the case of a terrorist threat.
The bills, if passed, will help protect Americans' privacy, advocates argue.
?With drones, we have arrived at a moment when it is technologically possible to engage in constant mass aerial surveillance," American Civil Liberties Union senior policy analyst Jay Stanley told NBC. And even though surveillance cameras already watch people, drones ?raise the stakes considerably from there,? he said.
Domestic drones aren't quite as powerful or effective as those being used by the Pentagon, but they still offer a new tool for law enforcement.
Current laws may be able to help prevent some abuses, said John Villasenor, policy expert with UCLA and the Brookings Institution. However, questions still remain about what will be done with the information that is gathered.
?Whether data's being collected by Google or from cellphones or bank cameras or traffic cameras, I don't think the medium is the essence," countered Michael Toscano, president of the Association for Unmanned Vehicle Systems International, which represents drone makers, according to NBC.
? 2013 Newsmax. All rights reserved.
Source: http://www.newsmax.com/US/States-Target-Non-Military-Drones/2013/03/24/id/496065
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SteveLendmanBlog: Payday Loans: Modern Day Usury
Payday Loans: Modern Day Usury
by Stephen Lendman
Payday loans let predatory lenders rip off unwary borrowers. They provide short-term unsecured quick cash. It comes at a high price. It matches the worst of loan shark practices.
The Center for Responsible Lending (CRL) calls itself a "non-partisan organization that works to protect homeownership and family wealth by fighting predatory lending practices."It's "witnessed, studied, and fought against outrageous lending abuses." They "strip billions of dollars from (unwary) American families."
In July 2009, its report discussed predatory payday lending. It's titled "Phantom Demand: Short-term due date generates need for repeat payday loans, accounting for 76% of total volume."In other words, debt entrapment assures repeat business. Borrowers need new loans to service old ones. They also need help to meet other obligations.
It's a scam. It extracts up to an 400% annual percentage rate (APR). It requires short-term balloon payments. They're do every two weeks. They extract 25 - 50% of borrower income. Doing so leaves them unable to handle daily obligations.?
It forces them into new loans. If not repaid, they're automatically rolled over. Added interest compounds. What a way to make money. It's sure fire profit-making. It works as planned.
In 2010, three million Americans got payday loans online. Doing so expands a lucrative profit source. By 2016, forecasts estimate 60% of payday borrowing this way. It's nearly double 2011's level.
Offshore sites operate. Doing so circumvents state regulations. Shell companies run them. Anything goes is policy. Consumer protections don't exist. Scams are easier than ever. Clever crooks find new ways to steal. It's easy when no one stops them.
New loans follow old ones. Many happen almost immediately. At times it's in a day or less. Doing so locks borrowers in debt. That's what lenders have in mind.
Borrowers "generally open new loans in rapid succession." Around 87% of new ones occur during the next pay period. Half come when borrowers are first able. They're after partially repaid old ones.
"Churning" guarantees big profits. Nearly 59 million loans exceed $20 billion. Loans to one-time borrowers account for 2% of volume.
Churned loans produce $4.5 billion in annual fees. Unwary borrowers don't know what they're getting themselves into. They enticed with first-time discounted or free terms.?
One-fourth of all customers are Social Security recipients. Most getting loans have limited means.
Borrowing becomes habitual. Interest way exceeds principle. Debt entrapment extracts it longterm. Business models prioritize it.
They rip off borrowers for profit. A typical one repays $793 for every $325 borrowed. Abusive lending is longstanding. It's rising exponentially. Hard times increase customers.
Consumer protections don't safeguard them. They're vulnerable to abuse. Debt entrapment devastates them. Eighteen states and the District of Columbia prohibit or impose restrictions. They're too weak to matter.
Several other states have interest rate caps. Banks make payday loans. Wells Fargo, US Bankcorp, Fifth Third Bancorp, and others offer "checking advance products."?
They replicate bad practices. They drain money from low income communities.
They prioritizes grand theft. They circumvent state laws. They do it with impunity. They get away with lawless practices. They prioritize doing so.
They needn't worry. They have friends in high places. Money power runs America. Whatever it wants it gets. Predatory lending harms vulnerable borrowers. Low income households suffer most.
Harvard Business School found payday lending responsible for repeated overdrafts. Checking accounts are lost.
In 2006, Congress capped interest rates for active duty personnel and their families. It did so at 36% APR. Banks find ways of getting around it.?
They get virtually free money. They use it to make more of it. They make it the old fashioned way. They steal it. Payday loans produce big profits. They're at the expense of unwary borrowers.
Companies like Advance America, First Cash, and EZCORP get JPMorgan Chase, Wells Fargo, and/or Bank of America funding. They can't operate without it.?
Banks say they're serving customers. It's a lucrative partnership. They do big time stealing on their own. Their business models prioritize it.
In July 2011, the Center for Public Integrity urged payday loan rollover limits. They're supposed to provide emergency short-term cash.Experts say it's not so. Multiple rollovers follow initial loans. Huge costs are incurred. National limits need to be imposed. Truth in lending rules need clarification. Nothing has been done so far. Grand theft continues.
CRL told Patricia's story. It's typical of others. She's a retired nursing home aide. She had medical issues. She moved closer to family members.
Doing so required paying double rent for a month. She also had relocation expenses. They were more than she could afford.
She sought payday lender help. She took three loans. Two were for $200. Another was for $150. Short-term interest cost her $123.50. She had to repay $673.50.
She had limited means. She couldn't afford it. For nearly two years, she struggled. She paid monthly finance charges. It cost over $2,700 in interest. Her original loan remained unchanged.?
Most others are entrapped the same way. Predatory lenders scam them. They're on their own without help. Getting in bed with loan sharks leaves them unprotected.
Lenders offer a lifeline, they claim. They use it to scam unwary borrowers. They entrap them longterm in debt. Their business model prioritizes usury.
Variants of payday lending are longstanding. Long before credit cards and other current practices, "salary lenders" offered one-week loans. They did so at 120 - 500% APRs.
Illegal practices followed. They included wage garnishment, public embarrassment, extortion, and threats of job loss.
States tried curbing abusive practices. Usury rate caps were imposed. Some worked. Some didn't. Clever lenders find ways around laws and regulations.
Post-WW II, mass-market consumer financing grew. Wide-ranging credit products followed. They included mortgages, credit cards, and other ways to stimulate purchases.
State laws were inadequate. National standards were needed. They weren't forthcoming. Regulations were eased. Federally insured depositories, mortgage lenders, credit card companies, and other financial institutions benefitted.
Washington freed them from state usury laws. Deregulation accelerated. ?Developments encouraged modern-day payday lending.
In 1993, it began. Check Into Cash began operating in Tennessee. Others followed. So did exponential growth. Small and larger operators benefit. Borrowers lose out.
Federal law is largely absent. Inadequate protections exist. Dodd-Frank created the Consumer Financial Protection Bureau (CFPB).
Financial reform gave Wall Street a free pass. It's a stealth scheme for global monetary control.
CFPB is pretense. It's more subterfuge than real. It's cover for business as usual. It lets clever operators circumvent rules and regulations.?
They take full advantage. They do as they please. They do so with impunity. Consumers get hung out to dry.
Richard Cordray heads CFPB. He's a Democrat party insider. He's a former Ohio attorney general, treasurer, legislator and state solicitor. Obama installed him by recess appointment.
He's a Chicago Law School grad. He clerked for conservative Judge Robert Bork on the US Court for the District of Columbia Circuit. He later did for Supreme Court Justice Anthony Kennedy.
He's part of the system. It's manipulative and dirty. Money power controls it. It shouldn't surprise. Whatever Big Money wants it gets. Expect little help for payday borrowers. Expect more smoke than fire.
On January 7, CRL headlined "(Five) US Senators Ask Regulators to Stop Bank Payday lending." Comments addressed Fed Chairman Bernanke, Comptroller Thomas Curry and FDIC chairman Martin Gruenberg.At least four major banks make triple-digit payday loans. Doing so replicates others entrapping borrowers. Expect no relief.?
Letters don't help. Writing them is useless. They substitute for policy. Binding legislation is needed. None is forthcoming.?
Bankers and other predatory lenders are free to keep stealing. They take full advantage. It's the American way. Bipartisan complicity assures it. Nothing in prospect suggests change.
Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net.?
His new book is titled "Banker Occupation: Waging Financial War on Humanity."
http://www.claritypress.com/LendmanII.html
Visit his blog site at sjlendman.blogspot.com.?
Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.
It airs Fridays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.
http://www.progressiveradionetwork.com/the-progressive-news-hour
Source: http://sjlendman.blogspot.com/2013/03/payday-loans-modern-day-usury.html
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Sunday, March 24, 2013
Man Shoots Trusting Horse, Posts It on YouTube | Candace ... - Blogs
Who pets a horse, takes out a gun and shoots it, then posts the video on YouTube?? Someone who believes slaughterhouses should be able to kill horses again in the U.S., and who thinks citizens of this country shouldn?t have the right to protest. Ironically though, he may as well have shot himself in the foot, because the video has created an angry backlash against the slaughter industry, and may impede their goal of reinstating horse slaughter in the U.S..
I have not, and will not watch this video (there is a link to it at the end of this article), and debated as to whether or not I would even write about it but it was this paragraph in an article that tipped the balance:
If you are one of those who make comments like, ?Stop this? -? know that I am trying, but it is YOU that has to stop it. Don?t think that I and a few others can do it without your help. YOU have to put in?the?effort to pick up the phone, to send the email, to protest and support those that are fighting beside you. Don?t think you can just close your eyes and post the occasional comment. To ?Stop this,? YOU have to get involved. Make the calls to your Senators and Representatives. On RT?s blog is a list of email addresses and phone numbers to those who need to be made aware that this incident arouses the anger of every mentally healthy American.? (J. Finch, Habitat for Horses).
I know first hand that people don?t understand the plight that faces horses in this country, they just don?t want to know.? Rescuing horses is heartbreaking business, made worse by people?s criticism (my favorite is ?you must be rich?) and unwillingness to do anything or face the reality of the horse trade.? But the truth is, most horses have a gruesome end in slaughterhouses.
Horse slaughter is a cruel and barbaric process, and is anything but the benign endgame for horses that the slaughterhouses would have you believe. Sure, they kill the old and sick horses, but that is not what keeps them in business ? they prefer healthy horses in good weight.? The racing industry and irresponsible breeders dump their horses there.? Buyers pose as rescuers and take in the horses that families can?t afford, then turn around and sell them to slaughterhouses. The horses? deaths are violent and often bungled, and they suffer unimaginably.
Habitat for Horses has an excellent series of articles on this issue, with solid data to support the revelations of what really happens to beloved horses.
?slaughtered horses are far from old, sick, lame, or emaciated. A USDA-commissioned study conducted by the Colorado State University in 1998 at the two horse slaughterhouses in Texas (Beltex Corp. and Dallas Crown, Inc.) showed that 92% of horses arriving at the plants are in good or excellent condition and are less than eight years old. The remaining 8%, the study found, evidenced recent trauma and other welfare-related problems, which could be attributed to transport conditions. In fact. more than half of that 8% showed clear signs of fighting injuries during transport. Only 1.5% presented significant welfare problems and were deemed unfit for travel. The report does not seem to account for the harsh treatment horses endure at auction yards and slaughter feedlots, including dehydration, starvation, lack of shelter, and medical treatment of existing injuries, which no doubt would worsen with time and transport conditions. This fact is backed by photographic evidence taken at the slaughter plants holding pens. Undercover pictures taken at Dallas Crown, Inc. (the plant formerly located in Kaufman, Texas) show only young, healthy, well-conformed animals, which some injuries, such as bruising and lacerations, clearly received during shipping and handling by killer buyers. No old, diseased or skinny horses were observed, despite the pens being watched for several days at various times.
Although the slaughterhouses have not been able to kill horses in the U.S. for a few years, they are close to being able to open again in several states.
Habitat for Horses has this to say about the other video (see link at the end), where the horse is shot:
?You do not want to see the video. It is far too graphic and far too violent. It has value as an educational tool for those in the mental health field in the study of sociopathic behavior (currently called ?antisocial personality disorder?) and for one other specific purpose ? for it displays the typical personality of those involved in the horse slaughter trade. These same personalities crowd into every horse auction and every slaughterhouse, deriving their pleasure from killing and watching other kill horses.
If you believe the lies about ?unwanted? horses, ?starving? horses, about ?peaceful euthanasia,? then yes, you need to watch it.
If you think sending your horse off to the slaughterhouse is really the way you want to discharge your responsibility for the animal you bought, then yes, you should watch it. This is the type of man to whom you are turning your horse over. If equine slaughterhouses once again open in American ? this man will win.
Once again ? Fair Warning ? DO NOT WATCH ? but if you must, click here?.
Source: http://blog.seattlepi.com/candacewhiting/2013/03/23/man-shoots-trusting-horse-posts-it-on-youtube/
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Find Your Favorite Clothing And Costumes At An Online Music Store
Being a musician or dancer not only requires the appropriate talent to impress an audience, it requires the necessary look to win people over. It's not enough just to act the part, it is important to look the part as well.
Hip Hop apparel includes jewelry, bracelets, earrings, pendants, watches, rings, necklaces, grillz, sunglasses, wallet chains, belt buckles, cuff links, tees, hats, tags, bags, and much more.
It is very awkward listening to a great performance while thinking why is she wearing that outfit? There is something unusual about watching a heavy metal singer in a football jersey, or a hip hop artist in a suit and tie, or a classical musician wearing a leather coat and chains. All of this affect performances in a negative manner.
It is often not the fault of the performer. A person can't wear the proper clothes or costume if he or she does not know what to wear. Musicians and dancers have spent years searching for outfits only to return home empty handed after a day of travelling to several distant locations.
Now with the invention of the internet, there is a solution to those who require help. An online music store provides thousands of choices regarding clothing and costumes for artists. A simple online search will save many hours of offline travelling, dollars spent if you get very lucky and do find what you're looking for, and the frustration of having to go through the annoying process of endless searches for what you require.
Halloween, holiday, movie, mascot, couples, adult, kid, baby, and jazz costumes are of the many costumes that are available with accessories that include wigs, makeup, masks, mustaches, beards, glasses, and a lot more.
Dancewear includes tap, ballet, gymnastics, modern, classic, and jazz costumes. Other items include bottoms, leotards, shoes, tights, tops, tutus, skirts, unitards, and shoes.
Hip Hop apparel includes jewelry, bracelets, earrings, pendants, watches, rings, necklaces, grillz, sunglasses, wallet chains, belt buckles, cuff links, tees, hats, tags, bags, and much more.
Many categories of clothing and costumes are available including items from many of the world's top brands and designers. Delivery is always fast and directly to your favorite location. Discounts, bargains, coupons, contests, free stuff, and a lot more bonuses are included.
You can also check out many of the other categories at an online music store such as musical instruments, DJ and karaoke, drum beats and loops, music lessons, songwriting and composing, dance, sheet music, music books, music magazines, recordings of music, music for children, music for health, internet and satellite radio, games, iPods and iPhones, television and movies, posters and art, memorabilia, tickets, cool stuff, musicians directory, concert calendar, employment and internship, and much more.
Searching and finding what you need has become easier than ever before. Now all that you require is a computer and the internet, not a car, gas money, bus ride, travelling on foot, nagging at someone to take you, or bike ride to out of the way locations that will charge you too much money. Musicians and dancers are going to look better than ever!
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