The pirate panhandler at the 7th ave. B/Q station...

Want to shut down the large, loud, obnoxious panhandler that speaks with everyone that walks by him?

Call him out for wearing Jordans. I did tonight and the guy was tongue tied.

The guy has the gall to beg while wearing shoes that cost $100 bucks. I noticed that he also mixes it up with some sweet timberland boots. Obviously the guy can stand wherever he wants but I'd love to see his reaction if every person calls him out for wearing expensive shoes. Just a simple "Nice kicks" or "Sweet Jordans." I want my panhandlers to have long beards and duct taped busted ass sneaks...not shoes that cost more than mine.

Maybe someone or some agency gave him the shoes?

I doubt it. some people are career panhandlers.

There used to be a guy on 7th and President who would get dropped off every morning. He would go buy a cup of coffee from New World Coffee, dump out the drink, and then use the cup to collect change for the day. I assume someone came to pick him up at the end of the day.

haha this guy is great.

he isnt homeless. One day he told me he had to go home and take care of his mom soon. I was like....wtf.

also I like panhandlers more than bankers and hedge funders when it comes to people leaching off others.

How to hedge funders and bankers leach off others?

Hedge funds are pure evil.

Bankers are OK in my book.

Santa wrote: also I like panhandlers more than bankers and hedge funders when it comes to people leaching off others.

Not to throw this thread completely off topic, but I'd be interested to hear your explanation of what exactly it is that a "hedge fund" does, and why it's so horrible. Likewise, Meredith - what is a hedge fund, and why is it "pure evil?" As opposed to, say, Adolf Eichmann or Joseph Stalin, just to name other entities that others (such as myself) might classify as "pure evil."

Hedge funds are typically open only to a limited range of professional or wealthy investors. This provides them with an exemption in many jurisdictions from regulations governing short selling, derivative contracts, leverage, fee structures and the liquidity of interests in the fund.

In addition to being unregulated, these financial institutions also reap substantial benefits from special tax provisions that, like the regulatory framework, are no longer appropriate. The professional fund managers of these hedge funds and private equity firms are allowed to treat a substantial portion of their compensation as capital gains, meaning they are most likely taxed at 15% rather than the 35% rate that applies to ordinary income such as wages and salary. Such an exemption, however, makes little sense: in economic terms, the fund managers (also known as investment advisors) perform a professional service, much like lawyers or doctors, and receive remuneration for their labor.

Furthermore, the majority of hedge funds are offshore accounts to avoid taxes.

Pure evil in my book.

MeredithB wrote: Hedge funds are typically open only to a limited range of professional or wealthy investors. This provides them with an exemption in many jurisdictions from regulations governing short selling, derivative contracts, leverage, fee structures and the liquidity of interests in the fund.

In addition to being unregulated, these financial institutions also reap substantial benefits from special tax provisions that, like the regulatory framework, are no longer appropriate. The professional fund managers of these hedge funds and private equity firms are allowed to treat a substantial portion of their compensation as capital gains, meaning they are most likely taxed at 15% rather than the 35% rate that applies to ordinary income such as wages and salary. Such an exemption, however, makes little sense: in economic terms, the fund managers (also known as investment advisors) perform a professional service, much like lawyers or doctors, and receive remuneration for their labor.

Furthermore, the majority of hedge funds are offshore accounts to avoid taxes.

Pure evil in my book.

WIN !!!! 8)

Nice copy and paste. These are just investors who are using the existing tax codes and laws to their advantage as much as they can. That is what everyone does - including me when I do my taxes. If I have an option of one way I can declare something and pay $5000 in taxes, or another way to declare it and pay $1000, and both are legal, I'm going to choose the cheaper option of course.

If anything, you can blame the politicians for not closing up the loopholes. A lot of them are investors in the hedge funds themselves.

willregistersoon wrote: If anything, you can blame the politicians for not closing up the loopholes. A lot of them are investors in the hedge funds themselves.

This is the key point. The tax laws aren't some state of nature that the hedge fund managers happened upon and are just trying to take maximum advantage of. The laws were crafted by these people themselves and enacted through their out-sized influence on our government, particularly (although by no means solely) during Republican administrations.

It's not the same as a normal schmoe trying to get the best break they can when they file their taxes.

willregistersoon wrote: Nice copy and paste.

http://www.epi.org/publications/entry/pm120/

Maybe he just has a similar writing style.

...the above would be sarcasm.

Interesting article from 2008 to throw in the mix:

Hedge fund managers throw weight behind Obama
http://www.reuters.com/article/politicsNews/idUSN1136083920080711

so why are we mad at this pirate guy?

he is just asking people for money and they're giving it to him.

so what if he has nice sneakers.

oh and bankers and hedge funders make money by investing other peoples money.

just like panhandlers.

except there is no return with panhandlers apart from them knowing your name and saying stupid things like with the pirate.

willregistersoon wrote: Nice copy and paste. These are just investors who are using the existing tax codes and laws to their advantage as much as they can. That is what everyone does - including me when I do my taxes. If I have an option of one way I can declare something and pay $5000 in taxes, or another way to declare it and pay $1000, and both are legal, I'm going to choose the cheaper option of course.

If anything, you can blame the politicians for not closing up the loopholes. A lot of them are investors in the hedge funds themselves.

I'm not sure I buy this argument...You neglect to mention that the financial industry is one of the largest lobby groups, who spread lots of money around Washington and various state capitals to make sure these "special" tax rules are in place...To extend your analogy, if I could spend an additional $1000 on lobbying and political fundraising to get the rules changed to permit savings of $3000, I'd do it...

Anyway, back to the guy outside the B/Q station...

willregistersoon wrote: Interesting article from 2008 to throw in the mix:

Hedge fund managers throw weight behind Obama
http://www.reuters.com/article/politicsNews/idUSN1136083920080711

That article says, "New figures show the Illinois senator and presumptive Democratic presidential nominee has drawn $822,375 in campaign contributions from employees of hedge funds..."

That could be anyone.

Let's see what Obama does about offshore accounts and the tax loopholes.

He has a cell phone too. On occasion I've seen him duck around the corner and use it.

Santa wrote: so why are we mad at this pirate guy?

he is just asking people for money and they're giving it to him.

so what if he has nice sneakers.

This is a joke, right? I'm all for supporting people that need help...just not the lazy. If you can afford a $100 pair of shoes get the f$$$ out of my face and stop blocking the subway steps.

MeredithB wrote: Hedge funds are typically open only to a limited range of professional or wealthy investors. This provides them with an exemption in many jurisdictions from regulations governing short selling, derivative contracts, leverage, fee structures and the liquidity of interests in the fund.

In addition to being unregulated, these financial institutions also reap substantial benefits from special tax provisions that, like the regulatory framework, are no longer appropriate. The professional fund managers of these hedge funds and private equity firms are allowed to treat a substantial portion of their compensation as capital gains, meaning they are most likely taxed at 15% rather than the 35% rate that applies to ordinary income such as wages and salary. Such an exemption, however, makes little sense: in economic terms, the fund managers (also known as investment advisors) perform a professional service, much like lawyers or doctors, and receive remuneration for their labor.

Furthermore, the majority of hedge funds are offshore accounts to avoid taxes.

Pure evil in my book.

Go MeredithB!

whynot_31 wrote: [quote=willregistersoon]Nice copy and paste.

http://www.epi.org/publications/entry/pm120/

Maybe he just has a similar writing style.

...the above would be sarcasm.
Cut and paste is fine with me! Anyone who took the time to research this topic and share what they learned with us scores good points. Thanks for the info.!

Wait, isn't it fair (or at least "darwinist") to take a sucker's money?

CRAP! I got so distracted by the cut and paste hedge fund debate that I forgot to say what I came here to say: I HATE PANHANDLERS!

Thanks for the shoe observation, Daveon8th. Maybe I should become a panhandler so I too can wear nice shoes.

I support the panhandlers in my neighborhood.

There is one guy who tells me if the train is coming. He doesn't even ask for money but I give him some, not sure why, but he takes it and is very polite to everyone.

whynot_31 wrote: Wait, isn't it fair (or at least "darwinist") to take a sucker's money?

i believe that the correct term would be "barnumist"

Oh ... I forgot that there is a guy in my building and he's always asking if you have a few dollars or some smokes. It makes me crazy because he's been in the building for a million years and his rent is like $300.

People .... stop asking for money. We dont want to give it to you. And stop getting pissed when we dont.

actually asking for a cig is more money than most panhandlers ask for.

also I give money to panhandlers all the time.

A woman (the usual, "I'm broke, my family is in a shelter, I lost my temp job, please give, God bless you.") on the N train panhandling one morning actually chastised the entire car because no one gave her anything. She told us that she ALWAYS gives to poor people. Which kinda confused me.

I like that guy even though I never give him money (I do give to quieter ones on 7th Ave). I'd be more suspicious if he were wearing a pair of Treetorns. I say leave him alone: panhandling is honest work and his shtick must be somewhat effective.

Niner wrote: He has a cell phone too. On occasion I've seen him duck around the corner and use it.

He's probably calling his fund manager