Thursday, November 17, 2005

grandstanding ....and is Television is over? and the secret password is UGH-MA

November 16th 2005

Hello,

One of the more interesting developments of the internet is the ability of the consumer to down load data at will. The recent explosion of high speed internet access or broad band access gives the consumer quick and usable way to down load music, or video ,including their favorite TV shows .For a mere $2 you can down load your favorite episode of “Desperate House Wives” commercial free . If this process continues it will be a boom for internet advertising and a boom for those sites that offer the service. The video on demand or information on demand business has been battling those elements who wish to make the internet more like TV force feeding data to unwilling masses. Those that see the power of the internet in its ability to deliver customized services at a mass produced cost have long opposed the TV model and view it as the anti- internet, but now with the availability of high speed internet access the vision long held that commercial ventures can drive enough eyeballs and gather pay per service customers as well as free access customers truly supported by advertising as a business model that’s time is finally come reaching a reality and make traditional TV obsolete.

OK so the jokers in Washington want to blame it on the oil companies. Wind fall profits yea that’s the ticket. Will someone explain to me how raising taxes on a particular industry is going to lower the prices to the consumer a better idea maybe to place a moratorium on all federal and state taxes on gasoline. Isn’t funny when the people who have screwed up energy policy and done everything in their power to undermine the energy independence in the US are going to investigate the effect of their misguided policies? Don’t believe me; when was the last refinery built in the US hummmm oh 1974. How about those wind mills build off of Cape Cod oh that’s right the Kennedy’s didn’t want their view ruined and all those Nuclear Power plants built, oh that’s right it has been about 30 years since the last one. As for me I am buying energy stocks, being a product of the 1970’s I have seen all this before.

A Uniform Gift to Minors (UGMA) otherwise known as an UGH-MA is an account you can set up for your children or and underage person. The IRS allows you to transfer (gift) up to $11,000 per child. It is simple for your broker to set up and does not involve any lawyers. The advantages are that the money is taxed at the child’s rate under the child’s social security number. You can establish and account for anyone underage ,a grandchild and god child and nephew and so on .You are the custodian and make all decisions related to the account until the child comes of age, which in most states is 18. Once the minor reaches legal age they take control of the account and it is there to do as they please yes that means anything so Paris Hilton watch out. As custodian you act as the fiduciary which means you have to handle the money in a “prudent manner” so margin, futures trading, horse racing and sports betting are probably not OK.


James

www.jamesfoytlin.com

3 comments:

Anonymous said...

why would the senate want to follow the carter model ,it was a abject failure.

Anonymous said...

they must be "stuck on stupid"

Anonymous said...

Hello! Jimmy whats up ! its getting colder . now i need some wood for my fireplace or heater could i borrow some wood from you love those energy stocks