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Settle This Argument For Us

Discussion in 'BlackHat Lounge' started by coreygeer, Aug 13, 2008.

  1. coreygeer

    coreygeer BANNED BANNED

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    Ok.. my room mate says making money online is worthless since no money is guaranteed, and taxes will kill you no matter how much you make since you have to save over 40% of it.

    He says college is the best choice because you're guaranteed a job when you get out and he says as a Journalist he'll be making $90,000+ a year starting out.

    I said .. "you're an idiot.. just because you graduate doesn't mean you're guaranteed to get a job in the industry specially making 90k a month..".

    He says it's better than making money online because taxes kill you.

    He now says he doesn't want to work on the forum and a website together.. (because all he does is watch movies and nothing else) because until someone lays out an exact blue print aka: holds his hand, he is not going to attempt making money online anymore.

    This was more of a rant but eh.. He's one of those guys who is well.. a pathological liar.. he "DOES" know everything and he truly believes he knows everything and his answers are always right. He will argue with you for days on end just to make you believe he is right.
     
  2. BlackLinks

    BlackLinks Newbie

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    Is he not aware of all the tax benefits you can have operating an online business compared to just being a regular employee? You can form an LLC and pay almost no taxes. Everything is deductible from hosting to utilities in your home and gas.
     
  3. Choronzon

    Choronzon Power Member

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    Are you really sure this is even worth arguing about? Easiest way to prove your point would be to go your own way and make a bundle, then make him eat his words...

    Just my 1 pence worth
     
  4. coreygeer

    coreygeer BANNED BANNED

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    Idk, I had a few extra minutes and needed something to rant about.
     
  5. tbenny

    tbenny BANNED BANNED

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    Your roommate is content to be an average schmo, you are not. There is no argumet just a difference in perspective.
     
  6. harneu

    harneu Newbie

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    The more you earn, the more eligible your business becomes for legal tax shelters. Corporations pay maximum 20% tax. And yes all your expenses are tax deductible too!

    It does matter how much tax you need to pay, what is important is how much you keep!
    I would rather earn 50% of $1,000,000 than 70% of $90,000.

    There are no guarantees in life (except for death & taxes) but failure to try is trying to fail.
     
  7. Uptownbulker

    Uptownbulker BANNED BANNED

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    Your roomate is an idiot.

    Get away from him before he drags you down into the intellectual backwater in which he lives.
     
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  8. CyberDilemma

    CyberDilemma Regular Member

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    He might want to ask all the countless unemployed recent college grads about the "guaranteed job" thing. Oh, and a simple call to a local newspaper reporter will thwart his grand illusions about the $90k starting salary for journalists. Just go to freelancer and see how cheaply you can get articles written by these journalism grads and you will see what I mean.

    I'm not knocking college. I have a few degrees myself but it's the real life experiences that bring home the bacon in the long term.
     
  9. eponus

    eponus Registered Member

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    Totally agreed. I have a Master's degree in Computer Science but it's my experience in the field that ultimately counts.

    Also, make sure to tell him that his alleged $90k a year (probably $50k tops) is through working 40 hours / week. Your money will be made passively after you set everything up. Never forget that time is MORE VALUABLE than money - you can make more money, but you cannot make more time.
     
  10. bonermagic

    bonermagic Registered Member

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    nobody... except for maybe MIT/Harvard graduates are getting jobs that pay 90k the first year now. your roommate is a dumbass. (by the way, I LOLd when I read he thought he would make 90k as a journalist)
     
  11. sugarpimp

    sugarpimp Registered Member

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    Also a good argument would be, if you tell him that its possible to avoid paying taxes with offshore company and bank accounts, also its possible with USA Inc and a good accountant.
    Seems like he dont know how to make money and keep it, looks like you are much better in this area;)
     
  12. wmitchell003

    wmitchell003 Regular Member

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    hahaha 90k first year how naive! lol
     
  13. MontyzPython

    MontyzPython BANNED BANNED

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    Sure, $90K in the first year. I've got a bridge I'd like to sell him too. Run. Quickly.
     
  14. delmages

    delmages Jr. VIP Jr. VIP Premium Member

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    Your room mate is a disillusioned jackass. I am currently pursuing a Doctoral degree and even I don't expect a $90,000.00 first year income. A degree does not necessarily predict how employable an individual is or even guarantee a job in one's chosen field upon graduation. It is simply a little piece of paper that says, "Yes, this individual has demonstrated competence in their chosen field".

    You, on the other hand, seem more rational than your half-witted friend. Tell him to go piss up a rope and blaze your own trails. When you are kicking back rolling in the dollars and he is still trying to get a job in journalism (for roughly a quarter of the income he initially anticipated), you can just chuckle.

    PS: You may wish to explain to your unequivocally intelligent friend the benefits of tax shelters. :p
     
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  15. coreygeer

    coreygeer BANNED BANNED

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    Did I forget to mention he goes to a local college around here.

    Some small town college called Urbana University. It's nothing fancy and nothing special, the town's just barely big enough to have one.
     
  16. battman323

    battman323 Regular Member

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    I believe the proper response in this instance is to tell your roommate to go to hell, f*ck off with his worthless journalist dreams, and kiss your golden IM ass.

    The only journalism he'll be doing is reporting on how awesome we all are while he clings to the 20th century illusion of job security in the 21st century. Let him do his own thing and get the hell outta your business.

    If you're going to be black hat, you gotta learn to be more of a maverick. You're like the wild west bandits on the edge of the law. Any partner you get is just gonna dump you sooner or later. Do it on your own.
     
  17. eidyggidogon

    eidyggidogon Newbie

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    Your friend is retarded.
     
  18. topper99

    topper99 Registered Member

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    Just shake your head and smile. We all know who will have the last laugh.
     
  19. BlackBeret

    BlackBeret Regular Member

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    Tell your friend he has to pay taxes on his $90K a year also. If he is an independent contractor he'll be paying both sides of the Social Security tax. I'd be willing to bet it will be close to 40% total he is worried about paying in an online business.

    Like everyone else has said, and I've done in the past, cut the dead weight.
     
  20. yuppy

    yuppy Regular Member

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    fucking dot.

    if he isnt interested in making money, then dont become a partner with him. find someone else.

    seriously, do you want to give half of your money to him?