VISA

[PUFFS-ENUFF]

Was sitting here bored outta my mind tonite looking at my credit card trying
to decide if I wanted to make a purchase I can't really afford right now.
When I wondered where in the hell does all that money go. Who owns VISA and do they sell stock? Kind of figured that they were much like public utility
companys in the sence that they do not really lose money they just stick in the end users ass. Well anyhow I google visa and it comes up saying that it was started by this guy Dee Hock and they don't sell shares it's all owned by
different banks.
Anyhow turns out this is one interesting guy. He is listed as one of 8 people
that most changed the world in which we live. A couple articles for anyone thats interested http://www.fastcompany.com/online/05/deehock.html http://www.newhorizons.org/lifelong/higher_ed/hock.htm

 

[BuBs]

God - forbid the public get any action on that!

 

[Guest]

Visa and other credit companies have brougth a lot of people a lot of problems. Google "Sean Moyer" for a tragic example.
American consumption debt is now 3000 billion dollar, this amounts roughly to 30000 dollars per family. Since 2005 Americans are "saving negative", 1 pct per year, this is for the first time since the great depression at the end of the twenties. 2/3 of the debts people who go bankrupt have are interests on the 1/3 of lended capital. In 2004 1500000 Americans went bankrupt, 10 times as much as during the great depression.
These debts in combination with the infamous sub prime lending which lead to the recent stock market problems are a hughe risk. The bubble is bound to burst sooner or later. National debt is now 8800 billion dollars. The future is looking grim.

 

[simba]

long story short..

the Federal reserve was started by Super rich to control the Gvt by holding interest for our money that they printed for us..
all of our fed income tax goes to banks it doesnt go to any thing else..
Read up on our money its not ours it private..
(why was kenedy killed? Sivler Notes)

credit cards are the same thing for the citizen..
they allow us to get in debt and then hold that and the interest over our heads..keepin us in check.. you complain about any thing and prices go up..
YOU ARE OWNED>> you are not free....
we are the slaves of the 21st century..

there are 300 billion people in the USA..
only 350 families are Billionairs.. with 99% of the money in the usa
only a about 50 of them have complete control over our government. Via the IRS..
did u know FED income tax is illegal.. we dont have to pay it.. it doesnt get used for any thing in the gvt..
there is NO law that says you have to pay or file Fed income tax..
you just cant lie on it if u do file..
Personal Income is not profit.. you go to work and they pay u what u are worth ((so they say) so it is an equal exchange.. no profit

 

[Guest]

did u know FED income tax is illegal.. we dont have to pay it.. it doesnt get used for any thing in the gvt..
there is NO law that says you have to pay or file Fed income tax..
you just cant lie on it if u do file..
Personal Income is not profit.. you go to work and they pay u what u are worth ((so they say) so it is an equal exchange.. no profit

well then why do people get arrested for tax evasion?

 

[Fidel Castro]

theres was a Federal income tax amendment... but some people claim its illegitimate because it wasnt properly ratified. Nobody has ever won in court with this argument

 

[fr33th3w33d]

well then why do people get arrested for tax evasion?

because billions of dollars are at stake. aggression, violence, prosecution and fear are used to keep people subservient.

people have won federal lawsuits on tax evasion. there is no written law declaring us to pay income taxes.

 

[Fidel Castro]

there is no written law declaring us to pay income taxes.

do you live in the US? did you just ignore my previous post? because there is a specific ammendment that DECLARES US TO PAY INCOME TAX

http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution

 

[BrainBoy]

Yes people have won, but often times the lawyer costs are simply just more then the cost of paying taxes.

 

[Fidel Castro]

people have won income tax cases... duh.

but never by arguing that we dont legally have to pay taxes.

"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."

its in the constitution sorry.

 

[Pixelante]

I don't have the energy to hate on credit card companies.

Yes, they have interest rates that would make Tony Soprano proud. Yes, they charge fees for things that they shouldn't. Yes, they encourage people to carry balances and to pay as little as possible to prolong their interest payments. Yes, they abuse public ignorance about credit, interest, and how the system works. Yes, more should be done to regulate them.

But (and this is a big, long, full-bodied but), it's not the credit card companies' fault that people misuse them. It's not their fault people who don't have incomes that can sustain high balances max their cards out and then only pay them minimum, meanwhile using a second or third card to pay the balance on the first. It's not their fault that they only pay as little as they possibly can and don't concern themselves with their interest rates, which, last time I checked, are printed in giant numbers on your bill and statement. It's not their fault the average American spends themselves into approximately $6,000 of debt on things they probably don't even need.

The average American has no idea what a credit card is or how it works. They think it's a gift certificate or free money. It isn't, nor has it ever been.

I have a credit card or two. I'm young, and my interest rates are insane. My cards are the same ones everyone else has. Guess how much, to the cent, I've paid in interest since I got my card a couple years ago. The answer: $0.00. I pay my balance in full every month. Even if I didn't pay it in full, I would pay it to the maximum I could afford to pay -- not $15 on a $1,000 (or more) balance to prolong the inevitable fact that I borrowed that money and that I owe it back.

Credit is borrowed money on a short-term basis. It's not free money. Credit cards are a tool that, if properly used, can help you manage all your expenses more efficiently, build a good FICA score so that you can get a better mortgage rate on a house, not have to pay deposits for a variety of services, and help you save money on things you buy frequently via rewards like cash back on gasoline or frequent flier miles. And, in cases of emergency they can be used to save your skin and allow you to carry a balance for a little while until you sort your issues out.

The bottom line is that nobody should spend more than they earn. Credit cards facilitate a temporary lifestyle well above your actual income, but the price you pay in the long term for abusing such a tool is quite steep. That's not their problem. Pay what you owe when you owe it, and you will never have problems.

 

[fr33th3w33d]

Yes people have won, but often times the lawyer costs are simply just more then the cost of paying taxes.

its more symoblic than anything. those are the people who actually put their money where their mouth is and do something to fight oppression.

 

[treble]

and if the court determines they are not liable to pay taxes but the irs continues to persecute then wouldn't that suggest the irs are acting outside the law. I mean they collect income tax which is against the law, why would they obey any other legal directives? Seems odd to me. They use the courts against people because people feel bound by the courts but they (irs) don't give them any of the same consideration....above the law

 

[TNTBudSticker]

Visa doesn't issue stock in the stock market...Mastercard was released last year with a share price of $40.00 per share...it hit $169.00 and now going back down since the sub-prime mess.The ticker tape for Mastercard is "MA"

You can see the share price here

http://tools.thestreet.com/tsc/quot...y=12&comp=&lf=1&compidx=aaaaa~0&ma=0&maval=60

Visa will and try to make an IPO which means that they will issue stock so now they are finding a CEO and others that make it work in the market..So when Visa issues new stock ..might make sense to get in..all long as the market is in a bull mode..you'll make money

 

[USAH]

I'm interested in Visa's IPO... any other info on this?

 

[TNTBudSticker]

I usually type the "Visa" in the search box in Firefox and the results come up...most are not updated but I sometime use this link in msn money to check out upcoming IPO's

http://moneycentral.hoovers.com/global/msn/index.xhtml?pageid=10019

Most stocks are priced at the IPO then it will go up or down depending on factors like strong customers,revenues,debts and management..But for more stable growth,dividends is to go with large caps companies

I provided another link for large cap companies ..there is a drop down in the middle of the page to find micro,small,mid,large cap stocks

http://moneycentral.msn.com/investo...cksresults.asp?Category=Cap&Choice=4&MkTrds=1

Alot of folks are getting in tech stocks...like Apple that went $127 to $144 in 5 days

If you want to practice doing trades..go to Zacks.com and sign up and start trading...read about stocks and what makes them tick

 

[simba]

if ur going to invest invest in stocks worth less than 50cents

example in 2003 i talked a freind into shares at $0.08 cents he bought $5k worth..
now hes UBER LOADED.. sold like 2 months ago at $8 bucks a share.. u do the math
not saying company but u could figure it out..

invest in small stocks thhat way even if u invest only 100 on a 10 cent share you could make 1k-100k easy..

 

[thekingofNY]

...
Credit is borrowed money on a short-term basis. It's not free money. Credit cards are a tool that, if properly used, can help you manage all your expenses more efficiently, build a good FICA score so that you can get a better mortgage rate on a house, not have to pay deposits for a variety of services, and help you save money on things you buy frequently via rewards like cash back on gasoline or frequent flier miles. And, in cases of emergency they can be used to save your skin and allow you to carry a balance for a little while until you sort your issues out.

....

No offense or anything there brother but you sound fairly young....guess what, if you really are actually paying off your balances in full each month you are not helping your FICO score as much as you could by carrying a small balance, and you were partially correct about the minimum monthly payment, but too smug and up on your high horse to try to help others;

Bottom line people; always try to pay at the very minimum 2x your minimum payment , 3x if possible. ALWAYS take a day or night to think about any major purchase, if someone is selling you something and they can't let you sleep on it, chances are you probably don't need what they are selling you in the first place. Go to annualcreditreport.com once or twice a year and pull your credit report for free; it will not damage your score and you can select to pull it from one burue, two or all three major ones, I usually pick one and do it every 4 months or so, (probably overkill, but I have been dealing with alot of shiat on mine and need to monitor it closely) however this is completely free. Don't use any of the sites that require you to pay a monthly fee for this service, unless you are trying to fix something. Also Washington Mutual offers free credit report, fico score, and monitoring with their credit cards, although they do use transunion

EDIT: you people that think America is evil and the wealthy people have all the control are morons; I am not saying wealthy people don't often get out of trouble for things in which normal people wouldn't....frankly you guys/girls just sound insane.

Go try not paying your taxes for a long time and see how real that tax law is....its one of the first 20 ****ing amendments jackass, something about the right to collect taxes from the citizens...i want to say the 16th or 17th?

eh my spelling and grammar suck, but you should get my points.

Although I do agree that people bring the debt upon themselves, I don't think people should be able to claim ignorance to that and declare bankruptcy for credit cards....

 

[thekingofNY]

if ur going to invest invest in stocks worth less than 50cents

example in 2003 i talked a freind into shares at $0.08 cents he bought $5k worth..
now hes UBER LOADED.. sold like 2 months ago at $8 bucks a share.. u do the math
not saying company but u could figure it out..

invest in small stocks thhat way even if u invest only 100 on a 10 cent share you could make 1k-100k easy..

Penny stock investing is one of the most risky forms of investing though, chances are you will just loose everything. Personally, if you are into taking chances go with stock options instead, this way you can get big name companies with stocks in the multiple hundred dollar range and only pay 1/10 of the price, hell you are not even really buying the stock, but rather the right to buy it at a certain price.

Your friend was lucky and/or had someone on the inside. If you are just trying to save for retirement or just longer term go with some mutual funds, one high risk, a few medium risk, and one low. If it's definitely for long term, or just for tax purpose's look into a wroth IRA.

You can pm me if you want help on anything credit related, I don't know that much and am not an attorney or accountant, but I do know some, mainly about credit repair and investing.

 

[FrankRizzo]

If you are interested in learning about people that don't pay income tax google Tommy Cryer. He is some guy that just won in court vs the government and how there are no laws saying we must pay. While I don't know much about the subject that would a good place to start.

Also you could check out the movie "Maxed Out." It has nothing to do with income tax but it goes over how **cked the whole credit problem is in this country.

FRizzo