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Mayweather Needs McGregor Fight to Pay Taxes

calamity

calamity

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I've got a lot more formal education than Mayweather (and I'm not all that formally educated) and it's said Mayweather struggles to read. Supposedly he's illiterate or functionally illiterate or at least that is an accusation some have made. But he strikes me as a pretty smart dude. Probably a lot smarter than me. So, I suspect he has a significant portion of dollars converted into precious stones and metals. Maybe has given some dollars to family members to convert and store into bitcoins for him. In other words I'm saying I would hazard a guess he has liquid wealth hidden. I could be wrong of course.

Either way, I know he is a heavy gambler and that is no secret actually. He bets huge hands too. He'll bet in one hand more money than I'll ever see in a life time. But he also wins big too. But as is usually the case with people... he probably loses big as well.




While not talking about Mayweather in this video Joe Rogan and guests touch on some others that gamble hard. The woman says comedian Andrew Clay (I think his name is?) would loose $800,000 in a night to a Las Vegas casino and then have to perform on stage at the casino just to pay them back.

It is interesting how casinos are exempt from the principal of moral hazard that is supposed to govern the decision of other financial institutions like banks. Before the less educated conservative chimes in with their "but nothing should stop grown people," the morally superior, and those with greater inf, knowledge, or just far more intelligent aren't supposed to be preying on people like Satan. That is what makes Satan so dangerous. His far greater level of knowledge and info on human beings, on the individual as well, knowing what drives people where their weaknesses even as individuals are, and his greater intelligence.

https://en.wikipedia.org/wiki/Moral_hazard

In economics, moral hazard occurs when one person takes more risks because someone else bears the cost of those risks. A moral hazard may occur where the actions of one party may change to the detriment of another after a financial transaction has taken place.

Moral hazard occurs under a type of information asymmetry where the risk-taking party to a transaction knows more about its intentions than the party paying the consequences of the risk. More broadly, moral hazard occurs when the party with more information about its actions or intentions has a tendency or incentive to behave inappropriately from the perspective of the party with less information.
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(As a sidebar, the subprime loan scandal with adjustable rate mortgages, the banks were engaging in moral hazard as "subprime" basically meant "credit to poor to risk loaning money too.")





Some people like Dan Bilzerian can actually make a living gambling. He went through Navy SEALs BUDS training before dropping out to help his father. The guy has an incredible life and story. One or two hear attacks brought on by using cocaine, tons of sexy women around him, travels the world, earns millions betting on other gamblers. Politically he's a conservative or libertarian I think. I think. I could be wrong.



(I haven't watched more than a few seconds into the Dan Bilzerian video. I'm already familiar with him, so, I felt no need to watch it.)
 
If you have that much...you have no excuse not hiring and listening to a financial manager and accountant and paying taxes. I'd be set for life on 1,000,000
 
FastPace said:
I've got a lot more formal education than Mayweather (and I'm not all that formally educated) and it's said Mayweather struggles to read. Supposedly he's illiterate or functionally illiterate or at least that is an accusation some have made. But he strikes me as a pretty smart dude. Probably a lot smarter than me. So, I suspect he has a significant portion of dollars converted into precious stones and metals. Maybe has given some dollars to family members to convert and store into bitcoins for him. In other words I'm saying I would hazard a guess he has liquid wealth hidden. I could be wrong of course.

Either way, I know he is a heavy gambler and that is no secret actually. He bets huge hands too. He'll bet in one hand more money than I'll ever see in a life time. But he also wins big too. But as is usually the case with people... he probably loses big as well.




While not talking about Mayweather in this video Joe Rogan and guests touch on some others that gamble hard. The woman says comedian Andrew Clay (I think his name is?) would loose $800,000 in a night to a Las Vegas casino and then have to perform on stage at the casino just to pay them back.

It is interesting how casinos are exempt from the principal of moral hazard that is supposed to govern the decision of other financial institutions like banks. Before the less educated conservative chimes in with their "but nothing should stop grown people," the morally superior, and those with greater inf, knowledge, or just far more intelligent aren't supposed to be preying on people like Satan. That is what makes Satan so dangerous. His far greater level of knowledge and info on human beings, on the individual as well, knowing what drives people where their weaknesses even as individuals are, and his greater intelligence.

https://en.wikipedia.org/wiki/Moral_hazard



(As a sidebar, the subprime loan scandal with adjustable rate mortgages, the banks were engaging in moral hazard as "subprime" basically meant "credit to poor to risk loaning money too.")





Some people like Dan Bilzerian can actually make a living gambling. He went through Navy SEALs BUDS training before dropping out to help his father. The guy has an incredible life and story. One or two hear attacks brought on by using cocaine, tons of sexy women around him, travels the world, earns millions betting on other gamblers. Politically he's a conservative or libertarian I think. I think. I could be wrong.



(I haven't watched more than a few seconds into the Dan Bilzerian video. I'm already familiar with him, so, I felt no need to watch it.)
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It states as much in the beginning of the article:
"Although the taxpayer has substantial assets, those assets are restricted and primarily illiquid," the petition said
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. I think when you have that kind of money, you rarely have very much of it liquid. It's not making you any money when it's just sitting there.
 
Chaddelamancha said:
It states as much in the beginning of the article: . I think when you have that kind of money, you rarely have very much of it liquid. It's not making you any money when it's just sitting there.
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I read that portion of the article. But precious stones and metals would be liquid. But if you have purchased them in a manner not traceable by the IRS, or at least not traceable as *your* assets, then it can't be counted as part of your liquid assets, correct?

I'm not sure how easily bitcoin could be traced either, particularly if you have given money to someone you trust to purchase bitcoin themselves to hide for you. Bitcoin can be converted to cash and that is why I called it liquid.

But I'm certainly no finance pro, so, I could be wrong on some aspect of these things or what qualifies as "liquid."
 
FastPace said:
I read that portion of the article. But precious stones and metals would be liquid. But if you have purchased them in a manner not traceable by the IRS, or at least not traceable as *your* assets, then it can't be counted as part of your liquid assets, correct?

I'm not sure how easily bitcoin could be traced either, particularly if you have given money to someone you trust to purchase bitcoin themselves to hide for you. Bitcoin can be converted to cash and that is why I called it liquid.

But I'm certainly no finance pro, so, I could be wrong on some aspect of these things or what qualifies as "liquid."
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I don't have enough money to worry about these sorts of things. :lol:
 
I give Mayweather and Roy Jones Jr. much credit for at the very least telling Don King and corrupt boxing promoters to shut it up their ass as they were stealing money hand over fist from the athletes themselves. If he is not that educated, he a freegin' business wiz it seems.
 
I'd like to think that Floyd Mayweather is just playing the system to his advantage, and he actually does have plenty of money that he could pay his back taxes if he wanted, but, he does strike me as a dumb guy and I wouldn't be surprised in the least if he has squandered every penny he's ever earned.
 
The Man said:
I'd like to think that Floyd Mayweather is just playing the system to his advantage, and he actually does have plenty of money that he could pay his back taxes if he wanted, but, he does strike me as a dumb guy and I wouldn't be surprised in the least if he has squandered every penny he's ever earned.
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I don't think he can even read but the way he fought in the boxing rings signals an extremely intelligent fighter.
 
Bucky said:
I don't think he can even read but the way he fought in the boxing rings signals an extremely intelligent fighter.
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Intelligent fighter, absolutely, but that doesn't mean he is intelligent. A lot of people who are intelligent fighters would blow $800 million in no time.
 
Chaddelamancha said:
It states as much in the beginning of the article: . I think when you have that kind of money, you rarely have very much of it liquid. It's not making you any money when it's just sitting there.
Click to expand...

You're supposed to pay taxes every quarter---so, maybe he should consider paying his taxes due before buying the assets.
 
blackjack50 said:
If you have that much...you have no excuse not hiring and listening to a financial manager and accountant and paying taxes. I'd be set for life on 1,000,000
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$1,000,000 isn't what it used to be. I'd be tough pressed to feel set for life with it.
 
calamity said:
You're supposed to pay taxes every quarter---so, maybe he should consider paying his taxes due before buying the assets.
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Or paying an estimate every time he gets a payday.
 
FastPace said:
I've got a lot more formal education than Mayweather (and I'm not all that formally educated) and it's said Mayweather struggles to read. Supposedly he's illiterate or functionally illiterate or at least that is an accusation some have made. But he strikes me as a pretty smart dude. Probably a lot smarter than me. So, I suspect he has a significant portion of dollars converted into precious stones and metals. Maybe has given some dollars to family members to convert and store into bitcoins for him. In other words I'm saying I would hazard a guess he has liquid wealth hidden. I could be wrong of course.

Either way, I know he is a heavy gambler and that is no secret actually. He bets huge hands too. He'll bet in one hand more money than I'll ever see in a life time. But he also wins big too. But as is usually the case with people... he probably loses big as well.




While not talking about Mayweather in this video Joe Rogan and guests touch on some others that gamble hard. The woman says comedian Andrew Clay (I think his name is?) would loose $800,000 in a night to a Las Vegas casino and then have to perform on stage at the casino just to pay them back.

It is interesting how casinos are exempt from the principal of moral hazard that is supposed to govern the decision of other financial institutions like banks. Before the less educated conservative chimes in with their "but nothing should stop grown people," the morally superior, and those with greater inf, knowledge, or just far more intelligent aren't supposed to be preying on people like Satan. That is what makes Satan so dangerous. His far greater level of knowledge and info on human beings, on the individual as well, knowing what drives people where their weaknesses even as individuals are, and his greater intelligence.

https://en.wikipedia.org/wiki/Moral_hazard



(As a sidebar, the subprime loan scandal with adjustable rate mortgages, the banks were engaging in moral hazard as "subprime" basically meant "credit to poor to risk loaning money too.")





Some people like Dan Bilzerian can actually make a living gambling. He went through Navy SEALs BUDS training before dropping out to help his father. The guy has an incredible life and story. One or two hear attacks brought on by using cocaine, tons of sexy women around him, travels the world, earns millions betting on other gamblers. Politically he's a conservative or libertarian I think. I think. I could be wrong.



(I haven't watched more than a few seconds into the Dan Bilzerian video. I'm already familiar with him, so, I felt no need to watch it.)
Click to expand...


Floyd Mayweather strikes you as a "smart dude"? He strikes me as a blithering idiot.
 
Chaddelamancha said:
I don't have enough money to worry about these sorts of things. :lol:
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I really admire Bernard Hopkins for all the discipline he has brought into his life even outside of boxing. The guy once lived in prison as a felon and convict but man... his life is more "sober" and disciplined than even many average Joe Americans, let alone celebrities and sports stars.

I'm mean granted... the dude could fight dirty as a boxer. But outside the ring the dude lives extremely "clean" and apparently stays within the means of his wealth.



Bernard Hopkins "Does McGregor Know How To Put Boxing Gloves On"
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I really hope for Mayweather's sake he did not blow through all those hundreds of millions of dollars. I was reading online yesterday that some former professional baseball player, originally from Cuba at that, who made multiple millions over his career is now broke and in debt and only has about $53,000 to his name.

I'm not sure why these sports stars just don't purchase a lifetime annuity with a monthly payout. Set what monthly payment you want to live with, one that you figure is good for you to party like a rock star with, then spend the money buying that for your 30 or 40 year payout. Once you buy it the money is no longer yours, however, the insurance company or bank you bought it through is contractually obligated to keep sending you a monthly check throughout the lifetime of that annuity. So, even if you blow all the remainder of your money you still have those monthly checks coming in.

You don't need to hire financial advisors and "invest your money" or any of that. And each year you can pay the IRS to have their agents do your taxes. The IRS charges a fee if you have them do your taxes. So what. Why stress over the IRS getting the exact amount of tax dollars out of you? Because at last you have the peace of mind your taxes are paid up with the Fed's and the IRS can not come back and blame you. And then you have your annuity you are living with. And you live within the means of your annuity. Say you have an annuity with a $150,000 a month payment to you. What is the problem?

Convert some of your money to gold and silver. And that's it. You have say... $5 million still in the bank. Okay... you blow through that $5 million, or if you are Tyson or Mayweather it was $100 million you had in the bank and then you blow through that. You still have your annuity as your welfare check. (Although, you could convert your gold and silver to cash and blow through that too).




Would I invest in real estate? I personally likely would. But only through opening up a company in which the company owns the property (so I could protect my personal wealth from lawsuits and liability). And only if I could afford to hire a management company to manage it. Because if I want passive income that's exactly what I want: passive. I don't want tenants bothering me 24/7. Nor do I want to give a financial advisor the ability to personally and access all my money and bank accounts.

But you don't need to invest in real estate if you are earning $20 million or $80 million over 10 or 15 years like I said, let alone $300 million or $700 million over your career. Just buy a damned annuity.
 
Kobie said:
Floyd Mayweather strikes you as a "smart dude"? He strikes me as a blithering idiot.
Click to expand...

Was it Bob Arum that used to be Floyd Mayweather's promoter? I can't remember. Whoever it was the guy finally acknowledged on camera that Floyd understood far better than him how to brand and sell himself. He said Floyd had came to him earlier on and said he wanted to become popular in the Hip Hop world, he wanted to become essentially part of the Hip Hop celebrity sphere. His former promoter said he did not understand what Floyd was talking about until he saw Floyd becoming mega rich off of taking charge of his own branding.

You know... Floyd was once branded and marketed as "The Pretty Boy." But he changed his brand marketed himself as "Money Mayweather."

Seems to me that was a smart financial and marketing decision. And if Adam Smith and free market capitalism are true then his financial success (he took charge of via marketing and selling him self) evidences the dud is not nearly as dumb as his critics like to think.




One has to be cognizant of the popularity of bragging, boast, flaunting money in the Hip Hop culture (like making it "rain"). Yeah, it is immoral and decadent. But I never said Floyd was a saint or that he excelled in pursuing to be a modest person. But in terms of marketing himself to the materialistic liberal world, he has done well in that. Even Justin Beber was hanging with the dude in the boxing ring at one point.

Here is a good picture of both image and values in Hip Hop:


DJ Khaled "All I Do Is Win" feat. Ludacris, Rick Ross, T-Pain & Snoop Dogg / Victory In Stores Now
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(Notice the boasting, notice all the *money flashed*)



Now notice Floyd Mayweather flashing money (Frankly, a popular and frequent thing among Hip Hop rappers and drug dealers on videos):


Floyd Mayweather counting $1 Million Dollars
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In the Hip Hop world, the most important thing is $$$$$$$$$$$$$$$$.

So, if you understand that then you better interpret and grasp what ex-con, internet sensation, bodybuilder Kali is saying when he says Trump is okay and all life is about is making money.


My Thoughts On Rich Piana, Hodgetwins, & Donald Trump
Click to expand...
 
Winchester said:
$1,000,000 isn't what it used to be. I'd be tough pressed to feel set for life with it.
Click to expand...

Not me. I could live off the interest on that no problem. That would assume I'm working a job and so is my girlfriend.
 
UPDATE:

"What other mixed martial artist is like me?" he said via his website The MacLife. "He'd need to reincarnate Bruce Lee, and that's the only person he could bring in that that could mimic me, of what way I'm coming at him. I am not like any other mixed martial artist, I am not like any other boxer. I'm in a league of my own, and I will prove that August 26."
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https://www.cbssports.com/boxing/ne...to-bruce-lee-ahead-of-floyd-mayweather-fight/

Connor McGregor compares himself to Bruce Lee.

Justin unfollowed Floyd on Instagram as part of the resetting of boundaries, and our sources say Floyd went "insane, nuclear." He lashed out at Justin, called him a "traitor" because Floyd had stuck with Justin during his meltdown when everyone was attacking Bieber.
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http://www.tmz.com/2017/08/21/justin-bieber-floyd-mayweather-unfollow-instagram-feud/

Justin Bieber and Floyd Mayweather are feuding. Interesting.
 
Bucky said:
UPDATE:



https://www.cbssports.com/boxing/ne...to-bruce-lee-ahead-of-floyd-mayweather-fight/

Connor McGregor compares himself to Bruce Lee.



Floyd Mayweather Angrily Breaks With Justin Bieber after Instagram Diss | TMZ.com

Justin Bieber and Floyd Mayweather are feuding. Interesting.
Click to expand...

Wtf does Bieber have to do with this? Are they like...lovers? And I don't mean that in a homophobic way. I mean that in like a...mayweather is a hardcore boxer and Bieber is a mediocre singer whose balls never dropped




The crowd is not the sum of its parts.

I am a republican who did not vote for Trump (Or Hillary).
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Mayweather will win. Probably round 5-6.




The crowd is not the sum of its parts.

I am a republican who did not vote for Trump (Or Hillary).
Click to expand...
 
A big money scam. Stay away.
 
Nap said:
You give Conner more credit than I do. I doubt it lasts longer than 3 rounds.
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Mayweather is fast. But he isn't going to hit McGregor that hard. McGregor will go farther than you expect. He is younger and in better shape and taller too.




The crowd is not the sum of its parts.

I am a republican who did not vote for Trump (Or Hillary).
Click to expand...
 
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