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Post Info TOPIC: Of course he refuses to release his tax returns.


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Of course he refuses to release his tax returns.
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http://www.businessinsider.com/mark-cuban-donald-trump-tax-returns-2016-8



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JW


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Of course he refuses to release his tax returns.
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It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM

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Oh, crap.  It doesn't matter who releases his or her tax returns--how many of us can understand one whit-word of them?

Meanwhile, there's some good news from Tuesday's FL state primaries.  Corrinne Brown, that crooked U.S. Representative from northeast FL who's finally under Federal indictment, lost to Al Lawson in the Democratic primary.  Good riddance, Corrinne Again!



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JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I think I've finally figured you out. Your lobbying for the same position in Trump's administration that Gobbels held in Hitler's.



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JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I am a bit lost JW.

Am I to assume that both S and C Corporations are Limited Liability companies, which is to say that regardless of how much the firm owes, it is only liable to the extent of its assets ? For example, if  Nytram Inc owes $ 100 billions but only has assets of a year's supply of home grown weed plus a tin box containing two brass washers and 50 cents in Continentals, then it is tough luck on the creditors because that is all they will get?



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Of course he refuses to release his tax returns.
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boosewell wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.




I am a bit lost JW.

Am I to assume that both S and C Corporations are Limited Liability companies, which is to say that regardless of how much the firm owes, it is only liable to the extent of its assets ? For example, if  Nytram Inc owes $ 100 billions but only has assets of a year's supply of home grown weed plus a tin box containing two brass washers and 50 cents in Continentals, then it is tough luck on the creditors because that is all they will get?


Trump economics. If you're dumb enough to do business with him you deserve to get screwed. Just ask all the contractors he's fucked over.

 



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RE: Of course he refuses to release his tax returns.
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nytram wrote:
boosewell wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.




I am a bit lost JW.

Am I to assume that both S and C Corporations are Limited Liability companies, which is to say that regardless of how much the firm owes, it is only liable to the extent of its assets ? For example, if  Nytram Inc owes $ 100 billions but only has assets of a year's supply of home grown weed plus a tin box containing two brass washers and 50 cents in Continentals, then it is tough luck on the creditors because that is all they will get?


Trump economics. If you're dumb enough to do business with him you deserve to get screwed. Just ask all the contractors he's fucked over.

 


 Contractors are always getting fucked over, usually by other contractors, largely because they think they know everything, know nothing and don't want to learn. And when they  end their working lives broken and exhausted and without two ha'ppence to bless themselves with, they wonder why.

Having got that out of the way, are S and C corporations limited liability companies as described in my previous post or not ?

 



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JW


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boosewell wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I am a bit lost JW.

Am I to assume that both S and C Corporations are Limited Liability companies, which is to say that regardless of how much the firm owes, it is only liable to the extent of its assets ? For example, if  Nytram Inc owes $ 100 billions but only has assets of a year's supply of home grown weed plus a tin box containing two brass washers and 50 cents in Continentals, then it is tough luck on the creditors because that is all they will get?


 Correct. The difference is in how they are regarded. An 'S' corp. is not an entity in its own right, a 'C' corp. is. An 'S' corp. is basically an addendum to a personal tax filing, a 'C' corp. files for itself.



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JW


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nytram wrote:
boosewell wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.




I am a bit lost JW.

Am I to assume that both S and C Corporations are Limited Liability companies, which is to say that regardless of how much the firm owes, it is only liable to the extent of its assets ? For example, if  Nytram Inc owes $ 100 billions but only has assets of a year's supply of home grown weed plus a tin box containing two brass washers and 50 cents in Continentals, then it is tough luck on the creditors because that is all they will get?


Trump economics. If you're dumb enough to do business with him you deserve to get screwed. Just ask all the contractors he's fucked over.

 


 Why does Trump keep winning the law suits? Sounds more like the contractors are screwing him and not getting away with it.



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aghast wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I think I've finally figured you out. Your lobbying for the same position in Trump's administration that Gobbels held in Hitler's.


 Don't tackle such complex topics. You're, not your and Goebbels, not Gobbels.  



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RE: Of course he refuses to release his tax returns.
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boosewell wrote:
nytram wrote:
boosewell wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.




I am a bit lost JW.

Am I to assume that both S and C Corporations are Limited Liability companies, which is to say that regardless of how much the firm owes, it is only liable to the extent of its assets ? For example, if  Nytram Inc owes $ 100 billions but only has assets of a year's supply of home grown weed plus a tin box containing two brass washers and 50 cents in Continentals, then it is tough luck on the creditors because that is all they will get?


Trump economics. If you're dumb enough to do business with him you deserve to get screwed. Just ask all the contractors he's fucked over.

 


 Contractors are always getting fucked over, usually by other contractors, largely because they think they know everything, know nothing and don't want to learn. And when they  end their working lives broken and exhausted and without two ha'ppence to bless themselves with, they wonder why.


Contractors get fucked over by contractors because contractors know nothing? 

confuse

 

 



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RE: Of course he refuses to release his tax returns.
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JW wrote:
aghast wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I think I've finally figured you out. Your lobbying for the same position in Trump's administration that Gobbels held in Hitler's.


 Don't tackle such complex topics. You're, not your and Goebbels, not Gobbels.  


Got it, Herr Goebbels, you're not just a political Nazi, you're also a spelling Nazi. Clears up why you got your ass kicked as a kid. Even as a child you were a ignorant, racist SOB and the other kids could see it.



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When the people shall have nothing more to eat, they will eat the rich.



Commander, Consolation Prize

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aghast wrote:

 


Got it, Herr Goebbels, you're not just a political Nazi, you're also a spelling Nazi. Clears up why you got your ass kicked as a kid. Even as a child you were a ignorant, racist SOB and the other kids could see it.


 You knew JW when he was a kid?  I thought you were years younger than he. blankstare



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KittyBiggerstaff wrote:
aghast wrote:

 


Got it, Herr Goebbels, you're not just a political Nazi, you're also a spelling Nazi. Clears up why you got your ass kicked as a kid. Even as a child you were a ignorant, racist SOB and the other kids could see it.


 You knew JW when he was a kid?  I thought you were years younger than he. blankstare


 I've never mentioned my age.



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Commander, Consolation Prize

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Nor having the slightest sense of humor. hmm



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JW


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Date:
Of course he refuses to release his tax returns.
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aghast wrote:
JW wrote:
aghast wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I think I've finally figured you out. Your lobbying for the same position in Trump's administration that Gobbels held in Hitler's.


 Don't tackle such complex topics. You're, not your and Goebbels, not Gobbels.  


Got it, Herr Goebbels, you're not just a political Nazi, you're also a spelling Nazi. Clears up why you got your ass kicked as a kid. Even as a child you were a ignorant, racist SOB and the other kids could see it.


 Before ignorant, use 'an', not 'a'. That GED isn't doing you much good, is it Gassy...



-- Edited by JW on Sunday 4th of September 2016 12:31:03 AM

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RE: Of course he refuses to release his tax returns.
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JW wrote:
boosewell wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I am a bit lost JW.

Am I to assume that both S and C Corporations are Limited Liability companies, which is to say that regardless of how much the firm owes, it is only liable to the extent of its assets ? For example, if  Nytram Inc owes $ 100 billions but only has assets of a year's supply of home grown weed plus a tin box containing two brass washers and 50 cents in Continentals, then it is tough luck on the creditors because that is all they will get?


 Correct. The difference is in how they are regarded. An 'S' corp. is not an entity in its own right, a 'C' corp. is. An 'S' corp. is basically an addendum to a personal tax filing, a 'C' corp. files for itself.


 Many thanks.

These S Corporations sound like a UK partnership, with the advantage that the directors aren't "equally and severally liable" for the debts of the company. 



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RE: Of course he refuses to release his tax returns.
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JW wrote:
aghast wrote:
JW wrote:
aghast wrote:
JW wrote:

It sounds sneaky as Hell, the way it is explained in the article. However, to anyone who understands, it is the only way to start a new venture. Only an idiot would start a business as a 'C' corp. The 'S' corp. tax law is specifically designed for new business ventures.

New ventures always cost more than they earn. To make it possible for entrepreneurs to survive the development stage of the business, cost wise, all profits and expenses go on the personal tax return. That makes it possible to write off the business losses from your personal income, which is only fair since it is personal income the entrepreneur has put at risk. Once the business is up and running profitably, it gets changed to a 'C' corp. and operates as its own entity.

Trump is doing what I have done and every savvy entrepreneur, or one who listens to his incorporation lawyer, (or like me, learned the hard way), in the country has done. Mark Cuban would know that if he had any real entrepreneurial experience. Starting an internet business is a very different process than having to invest heavily in a real world business venture. Internet ventures cost virtually nothing to initiate. Buying existing businesses is also a very different situation.

What Trump is doing is 1st grade stuff in the entrepreneurial world.



-- Edited by JW on Friday 2nd of September 2016 01:06:36 AM


I think I've finally figured you out. Your lobbying for the same position in Trump's administration that Gobbels held in Hitler's.


 Don't tackle such complex topics. You're, not your and Goebbels, not Gobbels.  


Got it, Herr Goebbels, you're not just a political Nazi, you're also a spelling Nazi. Clears up why you got your ass kicked as a kid. Even as a child you were a ignorant, racist SOB and the other kids could see it.


 Before ignorant, use 'an', not 'a'. That GED isn't doing you much good, is it Gassy...



-- Edited by JW on Sunday 4th of September 2016 12:31:03 AM


Ever get those lightening bolt tattoos on your forearm removed?



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