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Gblock
May 21, 2013 1:14pm
i always assumed that the amount of the donation would then decrease the amount of tax liability by the same amount in one year or spread out over several. not to exceed certain percentages of my total income??
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gut
Posts: 15,058
May 21, 2013 1:14pm
Which is a great illustration of what is wrong with this country. I can completely see how someone would believe as you do, not because they're stupid but because they just don't know.Gblock;1446028 wrote:please enlighten me as i am not a tax expert
You write-off the income, it does not offset our tax liability. Without the donation, his income is $1M higher and he will pay fed/state/local taxes in the neighborhood of 45%, meaning after-tax he has @ $550k in his pocket.
So when he donates $1M, the relevant cost to him is actually $550k, and then the gubmit loses out on $450k in tax revenues.
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Gblock
May 21, 2013 1:15pm
ok so he donated 550,000 then and the gubment 450,000 nicegut;1446036 wrote:Which is a great illustration of what is wrong with this country. I can completely see how someone would believe as you do, not because they're stupid but because they just don't know.
You write-off the income, it does not offset our tax liability. Without the donation, his income is $1M higher and he will pay fed/state/local taxes in the neighborhood of 45%, meaning after-tax he has @ $550k in his pocket.
So when he donates $1M, the relevant cost to him is actually $550k, and then the gubmit loses out on $450k in tax revenues.
ernest_t_bass
Posts: 24,984
May 21, 2013 1:19pm
No. He donated $1,000,000. The donation itself is not taxed. Derp.Gblock;1446041 wrote:ok so he donated 550,000 then and the gubment 450,000 nice
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Gblock
May 21, 2013 1:26pm
so wait did he personally donate this money or did his foundation is pledge this amount?
OKLAHOMA CITY -- Oklahoma City Thunder star Kevin Durant is pledging $1 million for tornado relief through his family foundation.
The American Red Cross announced Tuesday that the gift from The Durant Family Foundation is meant to match other donations and be an incentive for more people to give
http://www.kd35ball.com/about.php
looks like anyone can donate
OKLAHOMA CITY -- Oklahoma City Thunder star Kevin Durant is pledging $1 million for tornado relief through his family foundation.
The American Red Cross announced Tuesday that the gift from The Durant Family Foundation is meant to match other donations and be an incentive for more people to give
http://www.kd35ball.com/about.php
looks like anyone can donate
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Sonofanump
May 21, 2013 1:28pm
He earned $20m, donated $1m, pays $.45m ($8.6m-$.45m = $8.15m) less tax than before.
Mulva
Posts: 13,650
May 21, 2013 1:48pm
Iowa and Indiana are actually 2 of the top 5 or so states in terms of average tornados/10000 square miles.SnotBubbles;1445844 wrote:Missouri & Kansas (as well as Oklahoma in some cases) are considered midwest. But I get what you're saying. Iowa, Illinois, Indiana, Kentucky, Ohio, Minnesota, Wisconsin, Michigan....etc. We probably have one of the smallest threats of a natural disaster.
19 of the 51 "official" (per wiki) f5 tornadoes occurred in one of those states listed.
SportsAndLady
Posts: 35,632
May 21, 2013 4:17pm
Upgraded to EF5
Big_Mirg_ZHS
Posts: 2,079
May 21, 2013 6:19pm
EF 5 would have been my guess.
2 ef5's and on ef4 in the last 14 years in one town. FUCK THAT SHIT.
2 ef5's and on ef4 in the last 14 years in one town. FUCK THAT SHIT.
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gut
Posts: 15,058
May 21, 2013 6:24pm
And two of them carved out basically the same path. I think God is saying he wants that land to be a park.Big_Mirg_ZHS;1446189 wrote:EF 5 would have been my guess.
2 ef5's and on ef4 in the last 14 years in one town. **** THAT ****.
said_aouita
Posts: 8,532
May 21, 2013 6:42pm
I
ironman02
Posts: 4,989
May 21, 2013 8:31pm
I figured they would eventually upgrade this to an EF5. The damage seems too similar to the 1999 tornado that also hit Moore, OK.SportsAndLady;1446140 wrote:Upgraded to EF5
Hard to believe that the same place got destroyed by an EF5 with the fastest winds ever recorded in '99, and then got hammered by another storm that was almost as strong. Crazy odds.
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MontyBrunswick
May 21, 2013 8:43pm
Not necessarily crazy odds. They are in the prime location for tornado activity.ironman02;1446224 wrote:Hard to believe that the same place got destroyed by an EF5 with the fastest winds ever recorded in '99, and then got hammered by another storm that was almost as strong. Crazy odds.
SportsAndLady
Posts: 35,632
May 21, 2013 9:14pm
So are about 100 other towns.dlazz;1446225 wrote:Not necessarily crazy odds. They are in the prime location for tornado activity.
It's still crazy odds to get hit twice by 2 EF5's
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ironman02
Posts: 4,989
May 21, 2013 9:48pm
From what I've seen on the news, it's almost exactly the same path as the '99 tornado. I know they're in the middle of Tornado Alley, but it's pretty unlikely that essentially the same neighborhood would be completely demolished twice by EF5 tornados in a 15-year period.dlazz;1446225 wrote:Not necessarily crazy odds. They are in the prime location for tornado activity.
Mulva
Posts: 13,650
May 21, 2013 10:17pm
I don't understand why anybody would continue living there. Fuck rebuilding. Move somewhere else.
Trueblue23
Posts: 7,463
May 21, 2013 10:28pm
I know a dude who lived in Xenia when the giant tornadoes hit, he said literally most of the town was just gone.
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MontyBrunswick
May 21, 2013 10:40pm
Xenia wasn't the only town hit. There were 30 F4/F5 tornados reported with that storm:Trueblue23;1446323 wrote:I know a dude who lived in Xenia when the giant tornadoes hit, he said literally most of the town was just gone.
http://en.wikipedia.org/wiki/Super_Outbreak
My mom grew up in Xenia when the F5 went through. She still freaks out about storms.
Pics of Xenia post-tornado:
#15 is trippy
http://ww2.ohiohistory.org/etcetera/exhibits/swio/pages/albums/1974_tornado/1974_tornado_albumPage01.html
Classyposter58
Posts: 6,321
May 22, 2013 12:05am
I remember getting hit in 2010 by that tornado. You have to see it to believe it really, the power of these things is unmatched. To see the debris flying, and the amount of it was pure insanity
cruiser_96
Posts: 7,536
May 22, 2013 7:35am
I am more in this vein of thought.Mulva;1446313 wrote:I don't understand why anybody would continue living there. **** rebuilding. Move somewhere else.
But I do get why they stick around. Emotional attachment to an area or group of people is an odd thing.
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WebFire
Posts: 14,779
May 22, 2013 1:46pm
None of the kids drowned.
http://usnews.nbcnews.com/_news/2013/05/22/18419611-names-of-tornado-victims-released-by-medical-examiners-office?liteFive of the eight- and nine-year-olds died of "mechanical asphyxia," which Gov. Fallin's office said referred to "suffocation ... not drowning," despite previous reports that the seven children who died at Plaza Towers Elementary had drowned in the building.
Fab4Runner
Posts: 6,196
May 22, 2013 2:24pm
I wonder what it would feel like to live in one of surviving houses that is right next to one that is completely gone. Has to be crazy.said_aouita;1446200 wrote:
I love big storms, but tornadoes do scare me a bit. I love living where I live and I love being near family, but if I was in that area, I would definitely be moving.
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gut
Posts: 15,058
May 22, 2013 2:30pm
I was going to say it's maybe almost better for your house to be completely destroyed (aside from possessions) vs. patching something up that was severely damaged.
But that begs the question of how do you rebuild that many houses in a reasonable timeframe? Could be 2-3 years before you have a house to move back into.
But that begs the question of how do you rebuild that many houses in a reasonable timeframe? Could be 2-3 years before you have a house to move back into.
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Sonofanump
May 22, 2013 2:37pm
Oh, there will be plenty of contractors waiting in line to rebuild houses. I'm sure many from out of state have already headed there as we speak.gut;1446636 wrote:I was going to say it's maybe almost better for your house to be completely destroyed (aside from possessions) vs. patching something up that was severely damaged.
But that begs the question of how do you rebuild that many houses in a reasonable timeframe? Could be 2-3 years before you have a house to move back into.
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sportchampps
Posts: 7,361
May 22, 2013 2:37pm
After living in Kansas one thing I learned is certain parts of towns are more prone to tornados then others. In Lawrence for example one part usually would get hit because it was West of the hills and east of the lake so basically the tornado would gain strength over the lake then roll through wreaking when it hit the hills. It was more dangerous to live on the west side of town versus the east side. I'm guessing there's something near this town as well that makes this area such a target.