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Old 07-28-2013, 12:23 PM   #15
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Originally Posted by wnytaxman View Post
Terry, I think you might be very surprised by how few of those big coaches are full timers or how few of them have big loans on them. Clients of mine that have coaches that are 40' and more generally have more than 50% equity and not one of them is a full timer. I find that most of my clients who have big loans on their RV's are those with travel trailers and even pop ups.
I saw great examples of this a few years back when we spent four months over the winter at Outdoor Resorts in Indio, Ca.

We were in a brand new Itasca Ellipse 40DP and felt like red headed step children in there. The place was full of Marathons, Newells, and Country Coaches. The RV sites are privately owned and ranged in price at that time from just under $300K all the way up to a cool $1M.

Many of these high end rigs weren't occupied most of the time either. Many were owned by folks living in the LA area who used them as weekend "cabins". Each week a coach washing service would come by and wash the rigs whether the owners were there or not.

Some folks do have a lot of money.


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Old 07-28-2013, 01:01 PM   #16
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During my second career , I sold some very expensive toys ranging from $500,000 to $3,500,000 for the new ones. Very few were financed. Most were cash or cashed in stocks and bonds. These people for the most part got their money the old fashioned way , they earned it.


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Old 07-28-2013, 01:10 PM   #17
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Taking a drive in La Jolla (a very exclusive and expensive part of the southern California coast) I thought of this thread. Most everyone there lives in multi million dollar homes, drives expensive cars, and has maids, pool boys and nanny's.

But later that same day, I was in Chula Vista (a less desirable part of southern California, full of hard working but less fortunate people)...

...the differences are striking. In CV there are still many home forclosures, homeless, blight, etc.

Who says the economy has problems? Anyone that looks at the REAL economic indicators can easily see that we still have a serious problem. The deficit, lost value on personal property and personal savings, staggering student debt, all-time record national debt, chronic unemployment, over burdened entitlement system, growing government...and the list goes on and on.

The RV industry in the US is a good indicator of an active economy, BUT activity is not an indicator of the health of the economy.

The mega-rich make money in an up or down economy. But, the nations real economonic health is shown in how the shrinking middle class is carrying the burden of the huge government and the growing welfare segment.

Macro-Economics is only a foggy memory from my college days, but I am sure that growing the government, exporting manufacturing jobs and industrial factories, and importation of goods made in countries that do not care for the environment or its workers is NOT part of the cure of our sick economy.

Just my opinion and only worth what you paid for it.
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Old 07-28-2013, 01:18 PM   #18
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the rich do pay 40% of all the taxes collected and I have no qualm with that..heck when I was a builder and made more than 100 g a yr I paid more than 60 g to the gov which included my self employment taxes...I never thought that was fair...I can make less and end up with more which I did lots of times...just doesn't make sense. the eonomy does suck as the welfare programs have,, how many times doubled in the last five yrs{ now of course I am not talking about every single one ...those folks doent want to work and never will}.. and I also cant figure out why some people want to know were others got there money...just doesn't matter they got it..jeff
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Old 07-28-2013, 01:28 PM   #19
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X2 to Scarab008, beenthere and Cliff, I had my own business as well, and what I had to pay was enormous. I earned mine the old fashioned way and will spend it that way as well. I told my kids that there wont be much to inherit and they seem fine with that.

Cheers !!!
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Old 07-28-2013, 05:18 PM   #20
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If you would like the stats, try this one. A whopping 5% of the tax paying public pays 75% of the income taxes in the US. Almost half of the population pays NO personal income taxes at all. Mega corporations can park money overseas and keep it from the US taxing authorities. So what's one of the top targets of the "tax reformers" in Congress? Why the second and even first mortgage deduction of course. That happens to be the one most used by those of us in the Middle Class.

However, that being said, we still have huge disparities in the US and the Middle Class has shrunk considerably. Much of it is caused by globalization and free trade. Some has been caused by government policies, but there is a real problem right now for those who used to be what we would call Middle Class.

Many of us are at or near retirement, but I do fear for my children and their children. It isn't the same world or even the same country we inherited from our parents and grand parents.
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Old 07-31-2013, 08:58 AM   #21
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Our rig might look like "high dollar" but it represents all that we have and have worked for over 50 years. We stimulated the economy in buying it and hope to pay it off by selling our home (which was a major life investment). So, I doubt it gives any message one way or another about the general state of the economy.

OOPS! I guess that mine is "high dollar" only to me. It doesn't compare to the Provosts or the Newells, etc.

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