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Sunday, December 12, 2010

December 12, 2010, Bob Brinker's Moneytalk: Summary, Excerpts and Commentary

December 12, 2010 at 11:30am....Bob Brinker hosted Moneytalk today. However, I was not available to listen to or write a full summary of the program because of other commitments.

The Hand-bell choir I belong to performed in a Christmas program -- along with a singing choir. (And family and friends attended and spent the day with me.)

My friend and consultant, Jeffchristie, wrote a brief synopsis of some of the high-points of the program for us:
* Bob Brinker began by talking about the tax extension compromise worked out between the Whitehouse and the GOP. He said that president Obama was the big winner since the bill contained stimulus that would improve the economy thus helping him to be reelected in 2012. He went on to say that the big loser was the tea party and people in favor of fiscal responsibility. It will bring the debt close to $14 trillion and put us on a faster pace to $20 trillion in a few years.

* The first caller was from Fairbanks. There was a problem with the line and Bob went on to the next caller.

* Carol was calling from Massachusetts. She ask about paying back money she had received from Social Security, which she took early, so she would get a larger monthly check going forward. Brinker said she better act quickly since the government was going to drop this tax free loan option. Later in the program he noted that the government has already ended it.

* The next caller was in a low tax bracket and ask about the zero capital gains rate. Brinker said he felt that all capital gains should not be taxed.

* Paul called in from Santa Fe. He was worried that his Ginnie Mae fund was going to take a big hit. Bob talked about using a mental stop and how it has to be adjusted for the yearly distribution.

* Herman ask if Coverdale program was going to be extended. Bob said the senate bill would do so but the caller needs to wait a see if it is in the final version. If not the maximum yearly contribution will be limited to $500.

*The guest in the third hour was Josh Kosman. His book is "The buyout of American". It is about private equity firms. They talked about tax policies. Bob said that Warren Buffet has never been one to back away from a tax loophole.

Moneytalk is FREE and available on demand at KGO810 radio for seven days after broadcast. The now once-weekly Sunday program is archived in the 1-4pm time-slots. You can listen or download to your mp3 player, computer or flash drive, and listen at your leisure. KGO: Moneytalk Download (Don't forget to download the Josh Kosman interview in the 3-4 hour of the program.)

Dixiegeezer's red cardinal looks very Christmas-y.


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