If Immigration Creates Wealth, Why Is California America's Poverty Capital?

[xfire]

See the poverty that is already reigning in California?

I would rather live in Texas than in California because , it fits more my political ideas and because the state has a huge respect for the 2nd amendment and law enforcement.

Poverty, unfortunately, flourishes in the same places as prosperity, Democrats want to fix that so that everyone flourishes.

Texas is turning Blue, georges, better get here before it flips.

 

[georges]

10 brutal killers on California death row who have been saved by execution moratorium
https://www.washingtonexaminer.com/...tm_medium=app&utm_campaign=push_notifications

 

[georges]

California Law Backfires, Illegal Immigrant Detention Camp Could Now Expand
https://www.westernjournal.com/ap-california-sees-shift-in-immigration-detention-contracts/

CLELAND: PRIVATE RAIL IS A PROMISING ALTERNATIVE TO CALIFORNIA’S HIGH-SPEED TRAIN WRECK
https://dailycaller.com/2019/04/10/cleland-california-rail/

 

[georges]

Californians Are Going To Hate Trump’s New Plan for Illegal Immigrants: ‘We Hereby Demand’
https://www.westernjournal.com/ct/c...&ff_campaign=manualpost&ff_content=2019-04-14

California's AG: Gun Owners Who Have 'High Capacity' Magazines Are Going To...
https://townhall.com/tipsheet/bethb...wild-west-for-highcapacity-magazines-n2544742

 

[Little Red Wagon Repairman]

Oh boy! Oh boy! Am I ever rubbing my hands together now! Soon President Trump will send us these migrants that our Governor was advocating for. We will be rolling in dough soon because those illegals are worth their weight in gold. They will assimilate so well and produce so much that the abundance of new revenue will eliminate our homeless problem too. Yipee!

 

[georges]

CALIFORNIA COUNCILMAN ADDRESSES BACKLASH OVER AMERICAN FLAG THEMED POLICE CARS
https://dailycaller.com/2019/04/15/california-american-flag-police-cars/

 

[Little Red Wagon Repairman]

CALIFORNIA COUNCILMAN ADDRESSES BACKLASH OVER AMERICAN FLAG THEMED POLICE CARS
https://dailycaller.com/2019/04/15/california-american-flag-police-cars/

Georges, in Laguna Beach they'd rather taste the rainbow then salute the flag if you know what I mean.

But, if they are intimidated by an American flag, what about the word "POLICE" written on the side of that sedan? Also, what about that evil, racist, cornfed White behemoth in mirrored sunglasses sitting behind the wheel? Can't they have someone less threatening stopping violent criminals that could also possibly be biracial, genderless, and speaks an indigenous language that requires drum beats?

 

[georges]

Georges, in Laguna Beach they'd rather taste the rainbow then salute the flag if you know what I mean.

But, if they are intimidated by an American flag, what about the word "POLICE" written on the side of that sedan? Also, what about that evil, racist, cornfed White behemoth in mirrored sunglasses sitting behind the wheel? Can't they have someone less threatening stopping violent criminals that could also possibly be biracial, genderless, and speaks an indigenous language that requires drum beats?

I see what you are meaning but what do you expect, they are democraps. I would rather have some vets or bounty hunters to take care of the criminals than rather reckoning on scared out people.

 

[Rey C.]

Immigration creates wealth doesn't mean immigrants get rich

Immigration creates wealth but immigrants are not the beneficiaries of that wealth
Those who benefit from that wealth are those who sell them stuff, those who hire them, those who do business with them.

The income inequality in California is because of Hollywood. Take away Bel-Air, [NOBABE]Beverly Hills[/NOBABE] and Holmby Hills and you've took away a hug part of that income inequality.

Hollywood? Not even close. The revenue and wealth generated by Northern California's Silicon Valley dwarfs the movie and TV industry in SoCal. Cupertino based Apple, by itself, records higher revenues than the movie and TV businesses in Hollywood combined. Apple, Google, Facebook, etc. are all headquartered there. When was the last time you heard about a single billionaire (or even a multi-millionaire) being created because of an entertainment industry related/Hollywood based IPO? The gap between the haves and the have nots in Silicon Valley is rather staggering though - and from what I've read, some places are becoming almost unlivable for "average" people.

An investment advisor says $10 million can buy a comfortable life in Silicon Valley, but nothing 'lavish'

While the (legal) immigrants who work at those places are likely making more money than they would in their home countries, their presence here also depresses the salaries of American workers, who could otherwise demand higher salaries with a tighter labor market. Course, on the flipside, it's become incredibly difficult to find enough Americans who are qualified enough for STEM based jobs. But Mark Zuckerberg isn't pressing for more H1-B visas (just) because he can't find enough talent here. Much like HP and my former company did years ago, people here on visas are like indentured servants. You do better by firing Americans and bringing them in (for less money)... because if they want to stay, they'll do as they're told, do the work and keep their mouths shut.

As for immigration creating wealth... yes and no. Immigrants who bring skills and/or talents to the table probably create wealth. Those who have no skills/talents, and partake of entitlements, probably do not create wealth - quite the opposite. That doesn't make them bad people. It's just a simple math conclusion when someone is taking more out of the pot than they're putting in. I'd say that the average legal/H1-B visa holder probably does create wealth, while I'd say that the average illegal immigrant detracts from wealth - especially if they come here with children.

 

[georges]

IS Cher ONTO SOMETHING? LA IS LAVISHING BENEFITS ON ILLEGAL IMMIGRANTS, WHILE ITS HOMELESS DIE IN RECORD NUMBERS
https://dailycaller.com/2019/04/24/cher-los-angeles-illegal-immigrants-homeless-people/

 

[georges]

Los Angeles Will Celebrate Unveiling of ‘Obama Boulevard’ With Day-Long Party
https://thepoliticalinsider.com/los...party/?utm_medium=web-push&utm_source=wp-send

 

[georges]

CA Can’t Do Anything About the Homeless Problem, but It Can Dedicate a Day to ‘Star Wars’
https://www.westernjournal.com/ct/c...&ff_campaign=manualpost&ff_content=2019-05-04

 

[Little Red Wagon Repairman]

I’m getting sick and tired of this shithole. Me and my wife are thinking about taking off to Texas. If these idiots are dying to pay higher sales tax and gas tax then they can do it without us or any use of our money. The people who run our city are as corrupt as incompetent.

When you own real estate you can’t just leave the next day. I know. But as soon as everything appreciates to my satisfaction is when me and the wife get serious. A mere one million dollars can get a pretty swanky place in Austin. Gotta find a way not to get screwed by the IRS before putting all these eggs in a single basket.

I think the last thing I would do before leaving Los Angeles is to go outside and take a shit on the sidewalk in front of Mayor Garcetti’s house right in front of his family. He shit on my family as long as he was able so why not give the fucker a receipt?

I hope LA turns into Caracas after I leave. The politicians could only dream of such a utopia and I’m sure the remaining zombies would also think it’s a great idea.

 

[Little Red Wagon Repairman]

I’m not the only one planning on leaving. What will the parasite do when there are only other parasites to be used as hosts??? People will wish they only had to deal with poop instead of stepping over corpses on the way to Whole Foods.

 

[Rey C.]

When you own real estate you can’t just leave the next day. I know. But as soon as everything appreciates to my satisfaction is when me and the wife get serious. A mere one million dollars can get a pretty swanky place in Austin. Gotta find a way not to get screwed by the IRS before putting all these eggs in a single basket.

I don't know what type of real estate you're looking to sell (residential, rental, commercial, etc.). But if you have rental or commercial and you want to avoid the capital gains tax hit, assuming you want to continue in real estate, look into 1031 exchanges. You can't really avoid the tax hit, but you can defer it to later (when the investment is totally exited). You could exchange the L.A. properties for like-kind properties in Texas and keep on keepin' on. As far as your personal residence, if you file jointly, you can exclude up to $500K of the profit from the sale.

From what I hear, Austin is a good choice. I'm going down for the F1 race this year and I'll take an extra day to check the city out.

 

[Little Red Wagon Repairman]

I don't know what type of real estate you're looking to sell (residential, rental, commercial, etc.). But if you have rental or commercial and you want to avoid the capital gains tax hit, assuming you want to continue in real estate, look into 1031 exchanges. You can't really avoid the tax hit, but you can defer it to later (when the investment is totally exited). You could exchange the L.A. properties for like-kind properties in Texas and keep on keepin' on. As far as your personal residence, if you file jointly, you can exclude up to $500K of the profit from the sale.

From what I hear, Austin is a good choice. I'm going down for the F1 race this year and I'll take an extra day to check the city out.

Thanks Rey. To be honest I inherited the properties. I have one residence and one piece of income property. I'm a primitive as far as business knowledge. I've never purchased real estate and I've also never sold real estate. I will definitely be needing advice about a Capital Gains Tax strategy. I was thinking about buying a nice home in Austin and maybe an apartment building or something too. I know I got to invest in something to keep the IRS at bay. Not knowing what to do with all the money is better than worrying about not having enough money. I might have to dig a $4 million hole like a dirty cop. You know what real estate sells for out here. Also glad I live cash and carry and don't owe anything to the Jews. They probably scribbled my bank account numbers on their arm though. Fuckers.

I'm not a compulsive person. Also not crazy IRL. I may be upset at what the Mayor and Governor allow to happen but I'm keeping my powder dry at the moment. My income property is in an area called Miracle Mile that is right next to a new subway station being built. Right now I'm having fun telling real estate guys I have no interest in selling then crack jokes during their pitch.

In the end, me and my wife may live our last days in The Philippines together. That's when I'd like to take a walk with as much as I can but still be able to visit the USA.

If you go to Austin please go to Terry Black's BBQ on Barton Springs. Also Kerbey Lane(original location) has amazing breakfasts. I love the Migas and coffee.

 

[georges]

I’m getting sick and tired of this shithole. Me and my wife are thinking about taking off to Texas. If these idiots are dying to pay higher sales tax and gas tax then they can do it without us or any use of our money. The people who run our city are as corrupt as incompetent.

When you own real estate you can’t just leave the next day. I know. But as soon as everything appreciates to my satisfaction is when me and the wife get serious. A mere one million dollars can get a pretty swanky place in Austin. Gotta find a way not to get screwed by the IRS before putting all these eggs in a single basket.

I think the last thing I would do before leaving Los Angeles is to go outside and take a shit on the sidewalk in front of Mayor Garcetti’s house right in front of his family. He shit on my family as long as he was able so why not give the fucker a receipt?

I hope LA turns into Caracas after I leave. The politicians could only dream of such a utopia and I’m sure the remaining zombies would also think it’s a great idea.

Having some family in Dallas and Abylene, I can say that Texas rocks as state. Like they say :"Everything is bigger in Texas" and it indeed is. Texans are great people and great patriots, a reason why I do like the Texas state a lot.

 

[Little Red Wagon Repairman]

Having some family in Dallas and Abylene, I can say that Texas rocks as state. Like they say :"Everything is bigger in Texas" and it indeed is. Texans are great people and great patriots, a reason why I do like the Texas state a lot.

I remember you mentioning having family up around Dallas. I read a lot of people are moving to Arlington where the Texas Rangers play baseball. I thought Plano was pretty nice too. How long has been since you've been to Texas? I hadn't been back to Austin for 20 years and I barely could find the house I lived in. All the new freeways confused me to the point I had no sense of direction. I'd just need to get used to it. Those new freeways are very well put together. Most all of my favorite eating spots are still there and there are good gyms to train at.

 

[Rey C.]

Thanks Rey. To be honest I inherited the properties. I have one residence and one piece of income property. I'm a primitive as far as business knowledge. I've never purchased real estate and I've also never sold real estate. I will definitely be needing advice about a Capital Gains Tax strategy. I was thinking about buying a nice home in Austin and maybe an apartment building or something too. I know I got to invest in something to keep the IRS at bay.

Don't quote me on this, but I'm fairly certain that your cost basis (for tax purposes) will be based on the fair market value of the primary residence property at the time that you inherited it (plus or minus a few months, since real estate can't be valued as quickly or precisely as a stock or bond). In other words, if your family member paid $100K for it in 1970 and it's now worth $1 million, you'd only have to look at what it was worth when you inherited it (let's say $500K when they died in 2010). In that example, since you're married and assuming you lived there for two out of the past five years and you file jointly, you wouldn't owe any capital gains tax, since a married couple filing jointly has a $500K exclusion. But yeah, definitely check with a CPA. Some things have changed over the past couple of years.

If you go to Austin please go to Terry Black's BBQ on Barton Springs. Also Kerbey Lane(original location) has amazing breakfasts. I love the Migas and coffee.

We're going to spend the Monday after the race looking around and being tourists. If those places are near the city center, I'll check them out. Thanks.

 

[Straight Shooter]

I hope LA turns into Caracas after I leave. The politicians could only dream of such a utopia and I’m sure the remaining zombies would also think it’s a great idea.

Keep hoping. There's a reason why people want to go to L.A despite the high taxes and the overall shitiness. It's Because it's fucking L.A. It's ocean. It's beaches. It's nice weather. It's beautiful people. It's glamour. That's never going to change.