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28 minutes ago, WhatADay said:

 Florida doesn't charge state income tax, so Josh won't have to pay state income tax, but he will have to pay federal income tax, and that will probably be around $115, 000 (on the 500K) unless he is smart enough to get some professional advice, which I am not sure he will be.

 

$500,000 automatically puts Josh in the highest tax bracket: 39.6% (which begins at the $418,400 level).  So he would need $81,600 in tax deductions (+ whatever the amount of any other income he has this year, including the $10k or so stipend he was paid for his time in the house) to get down even to the next lower bracket, which is 35%, and since coming up with THAT much in deductions is not likely - that is really probably not going to happen.  (And coming up with $80k plus in tax deductions wouldn't even lower his tax that much at all...he would have to come up with like $200k in tax deductions to make any real dent in his tax bracket.)

 

So, most likely, the tax on his $500k will be $198,000 - not around $115,000.  He'll pay another $4,000 tax for his stipend, plus any other income he has this year will also be taxed at the 39.6% rate.  Since his income other than BB probably had him in a much lower bracket - the BB winnings will cut into his other earnings (since they will be taxed at a higher rate than they would have - ie: the full 39.6% instead of at the 15% or 25% he would have paid without the BB winnings).  So, in the end, the total tax burden on the winnings will probably amount to maybe $205k-220k, depending on what his non BB income is for this year.

 

Many people think that the rich can magically hire a tax adviser and knock that tax way down through legal means, but not really so much.  The only way to come up with $200k+ in tax deductions would be through illegal means, or by doing something like putting the money in an irrevocable trust - meaning he couldn't spend the money ANY time soon!

 

edit: Or he could give a large amount to charity, in which case he won't be spending that money.

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29 minutes ago, WhatADay said:

Josh is the idiot that won 500K, and here is my prediction for the 500K:   probably 50K will go to his and mom/family bills right away.  At least another 25K will be splurged/wasted in the euphoria of the high from winning.   Josh will probably buy a 50 to 80K vehicle right away. (ego purchase- but long term waste of money).  Florida doesn't charge state income tax, so Josh won't have to pay state income tax, but he will have to pay federal income tax, and that will probably be around $115, 000 (on the 500K) unless he is smart enough to get some professional advice, which I am not sure he will be.  He may also buy a house,  and with that kind of money figure floating around in his head, he will probably buy more house than he can afford to keep up, and FL is high on insurance due to hurricanes.  He may or may not be aware of this and may or may not plan accordingly.   The most he should spend of the 385 (after taxes), should have a lot more to do with what he can count on for future income because taxes and insurance  on real estate are big and will continue to go up.  If he is smart, he will put at least 200K  (300K would be brilliant) of the money into long term investments like annuities, bonds,  and  blue chip stocks with good dividends and do that with someone with a solid gold reputation and a track record, who can give honest guidance about what companies to buy NOW.  I would advise him to start reading up on this type of stuff, and if he wants to have some fun, take about 10 or 15 K to 'play' with in the investing arena.  DO NOT TRUST people he doesn't know and now come at him with 'help'.  He is now a target.  I am rambling....   this money can  secure him for life, IF HE IS SMART, invests wisely, and keeps working.   He can't stop working, blow it on expensive vehicles, a big house, partying, and walk away a rich man.  500K just isn't that much money.  BTW, at his age, YEARS of collecting  dividends on blue chip stocks will make him very rich at age 50, 60.   Listening Josh?  PS, by the end of the show, I had decided Josh did have a heart, and I think he will get hit up for loans, etc.  He is going to have to manage that, and  it will be hard for him.  Another idea, get a money manager, once again..  a well known manager,  who charges a low percentage fee for managing and has a stellar solid gold reputation, so he can just tell people he can't make loans, and maybe  he will have money left in a year.

 

You've obviously put a lot of thought into this. 

 

I've never really cared how other people spend their own money.  

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1 hour ago, WhatADay said:

Josh is the idiot that won 500K, and here is my prediction for the 500K:   probably 50K will go to his and mom/family bills right away.  At least another 25K will be splurged/wasted in the euphoria of the high from winning.   Josh will probably buy a 50 to 80K vehicle right away. (ego purchase- but long term waste of money).  Florida doesn't charge state income tax, so Josh won't have to pay state income tax, but he will have to pay federal income tax, and that will probably be around $115, 000 (on the 500K) unless he is smart enough to get some professional advice, which I am not sure he will be.  He may also buy a house,  and with that kind of money figure floating around in his head, he will probably buy more house than he can afford to keep up, and FL is high on insurance due to hurricanes.  He may or may not be aware of this and may or may not plan accordingly.   The most he should spend of the 385 (after taxes), should have a lot more to do with what he can count on for future income because taxes and insurance  on real estate are big and will continue to go up.  If he is smart, he will put at least 200K  (300K would be brilliant) of the money into long term investments like annuities, bonds,  and  blue chip stocks with good dividends and do that with someone with a solid gold reputation and a track record, who can give honest guidance about what companies to buy NOW.  I would advise him to start reading up on this type of stuff, and if he wants to have some fun, take about 10 or 15 K to 'play' with in the investing arena.  DO NOT TRUST people he doesn't know and now come at him with 'help'.  He is now a target.  I am rambling....   this money can  secure him for life, IF HE IS SMART, invests wisely, and keeps working.   He can't stop working, blow it on expensive vehicles, a big house, partying, and walk away a rich man.  500K just isn't that much money.  BTW, at his age, YEARS of collecting  dividends on blue chip stocks will make him very rich at age 50, 60.   Listening Josh?  PS, by the end of the show, I had decided Josh did have a heart, and I think he will get hit up for loans, etc.  He is going to have to manage that, and  it will be hard for him.  Another idea, get a money manager, once again..  a well known manager,  who charges a low percentage fee for managing and has a stellar solid gold reputation, so he can just tell people he can't make loans, and maybe  he will have money left in a year.

I earlier thought along the same lines although not at the level of detail outlined here and stated in an earlier post I thought he would blow through the money in 6 months.  However, today in an interview with Julie Chen on The Talk he was asked what his plans were.  He said his parents had already obtained a financial advisor for him and some of the money will go to help those in need after the hurricane.  I assume the parents know their son and will ensure he doesn't waste the money on stuff.

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6 hours ago, Roli said:

 

You've obviously put a lot of thought into this. 

 

I've never really cared how other people spend their own money.  

Roli,   I probably put 20 minutes of thought into that post while typing it. I manage a trust fund, know people personally who have won much more than 500K. I come from money, and have investments.  I own property in several states, including Florida.  I have made mistakes with money, and made good investments with money.  One thing I haven't done with money is let other people swindle it away from me.  I was just trying to offer some sound advice to protect him.   Some people listen, think about what they hear, and use advice, and others don't.  500K can change Josh's life for the rest of his life IF he invests it wisely, and leaves the dividends / interest alone for years.  If he blows it in the next year, he will have fun for a year, and that will give him a lot of good memories, but personally, I think security for a lifetime is the far better option. That, of course, is a personal decision.  Unlike you, I cringe when I see people become targets for con men. And I have seen it....

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8 hours ago, Roli said:

 

If you're referring to me, I never said he was a game master, but back when Jessica was stupidly calling him stupid, I disagreed with her idiotic judgement of him and stated so on this board.  She's the one who was stupid enough to spend most of her time secluded in bed with Cody instead of playing the game, and didn't even make it to jury.  She's a mean girl, and is unlikely to change.  She got what she deserved. 

 

As far as Josh being "lucky", well, you're entitled to your opinion.  Nobody has any way to prove if it was luck or strategy.  I'll give him the benefit of the doubt based on his DR sessions.   He wasn't my favorite HG by a long shot, but he also wasn't my least favorite.  

 

So you don't think Josh is lucky to be pulled through the season by Paul? You perhaps think this was his plan all along? Every time he entered a room and was so rudely told to leave, the week he stayed in the bedroom alone acting sad because Paul told him to do so, the running to insult (enter name here) because Paul told him to, asking Paul if he can take a nap, all Josh's plan to get to the big prize! Jessica was right to call him stupid. She stayed in bed because she wanted to, Josh did because he was told to. I stand by my opinion that he was lucky to be seated next to the gnome.

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6 hours ago, HeleneL said:

I earlier thought along the same lines although not at the level of detail outlined here and stated in an earlier post I thought he would blow through the money in 6 months.  However, today in an interview with Julie Chen on The Talk he was asked what his plans were.  He said his parents had already obtained a financial advisor for him and some of the money will go to help those in need after the hurricane.  I assume the parents know their son and will ensure he doesn't waste the money on stuff.

 

His parents know he's an idiot, they live with him. At least they're looking out for him. They also know America has seen his bullying ways so they're trying to show he's a really a good guy by helping hurricane victims.

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1 hour ago, WOC said:

 

So you don't think Josh is lucky to be pulled through the season by Paul? You perhaps think this was his plan all along? Every time he entered a room and was so rudely told to leave, the week he stayed in the bedroom alone acting sad because Paul told him to do so, the running to insult (enter name here) because Paul told him to, asking Paul if he can take a nap, all Josh's plan to get to the big prize! Jessica was right to call him stupid. She stayed in bed because she wanted to, Josh did because he was told to. I stand by my opinion that he was lucky to be seated next to the gnome.

ITA. He was extremely lucky. 

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8 hours ago, HeleneL said:

I earlier thought along the same lines although not at the level of detail outlined here and stated in an earlier post I thought he would blow through the money in 6 months.  However, today in an interview with Julie Chen on The Talk he was asked what his plans were.  He said his parents had already obtained a financial advisor for him and some of the money will go to help those in need after the hurricane.  I assume the parents know their son and will ensure he doesn't waste the money on stuff.

Just another case where someone is telling him what to do and easier to understand how Paul was able to pull some of his strings during the game. He should do what he wants with his money since it appears he has no obligations or responsibilities to someone such as wife and children.

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5 hours ago, WhatADay said:

Roli,   I probably put 20 minutes of thought into that post while typing it. I manage a trust fund, know people personally who have won much more than 500K. I come from money, and have investments.  I own property in several states, including Florida.  I have made mistakes with money, and made good investments with money.  One thing I haven't done with money is let other people swindle it away from me.  I was just trying to offer some sound advice to protect him.   Some people listen, think about what they hear, and use advice, and others don't.  500K can change Josh's life for the rest of his life IF he invests it wisely, and leaves the dividends / interest alone for years.  If he blows it in the next year, he will have fun for a year, and that will give him a lot of good memories, but personally, I think security for a lifetime is the far better option. That, of course, is a personal decision.  Unlike you, I cringe when I see people become targets for con men. And I have seen it....

 

Oh, I've seen it too.  I don't know why you would assume that I am not bothered when I see people become targets.  My own brother has been swindled by a "girlfriend" for about 3/4 of a million and it's still happening.  He's "in love"  I'm quite sure that she'll find other interests when she has completely drained him dry.  We tried to get through to him, but he's utterly and completely conned.  But it's his money, and if he wants to continue to live under the illusion that she has the same feelings for him as he has for her, there's nothing we can really do about it.  He's welcome to come and live with me if and when it all comes crashing down.  

 

My siblings and I don't come from money, but we've all worked hard and a couple of us have invested well.  I'm quite comfortable.  It's been a lot of years since I sweated about how I was going to come up with money to pay a bill or buy groceries for my kids.   

 

As it turns out, Josh's parents have already lined up a financial advisor for Josh, and he's thankful that they did, which should say a lot about him.  People have assumed he's stupid.  I don't think so.  

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4 hours ago, WOC said:

 

So you don't think Josh is lucky to be pulled through the season by Paul? You perhaps think this was his plan all along? Every time he entered a room and was so rudely told to leave, the week he stayed in the bedroom alone acting sad because Paul told him to do so, the running to insult (enter name here) because Paul told him to, asking Paul if he can take a nap, all Josh's plan to get to the big prize! Jessica was right to call him stupid. She stayed in bed because she wanted to, Josh did because he was told to. I stand by my opinion that he was lucky to be seated next to the gnome.

 

Again, you're entitled to your opinion.  You've made it clear that you hated Josh for a long time.  Perhaps that has clouded your opinion.  

 

In the end, our opinions don't matter.  Josh's actions from here on will prove who is right.  I was quite impressed with how he spoke in the interviews after the show.  

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4 hours ago, WOC said:

 

His parents know he's an idiot, they live with him. At least they're looking out for him. They also know America has seen his bullying ways so they're trying to show he's a really a good guy by helping hurricane victims.

Oh I agree.  His parents know exactly what would happen if they didn't take charge.  He's extremely immature.  His first order of business after the show was taking everybody out on a drinking binge.  Of course he'll foot the bill. Then it might be dinner for all his friends and family when he gets home.  Then a cousin needs money to pay the rent and another needs a car and poof the money is gone in no time.  His winning was pure dumb luck occasioned by his immaturity.  Instead of making big moves inside the house he decided to tattle tale to evicted HGs about the goings on in the house which turned out to be a major advantage.  HGs were already furious and that last bit just fueled their intention not to let Paul win. 

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5 minutes ago, HeleneL said:

Oh I agree.  His parents know exactly what would happen if they didn't take charge.  He's extremely immature.  His first order of business after the show was taking everybody out on a drinking binge.  Of course he'll foot the bill. Then it might be dinner for all his friends and family when he gets home.  Then a cousin needs money to pay the rent and another needs a car and poof the money is gone in no time.  His winning was pure dumb luck occasioned by his immaturity.  Instead of making big moves inside the house he decided to tattle tale to evicted HGs about the goings on in the house which turned out to be a major advantage.  HGs were already furious and that last bit just fueled their intention not to let Paul win. 

 

Wow.  Lots of assumptions.  Did you watch the backyard interviews?  Or anything since then?  

 

There's nothing wrong with taking a bit of his winnings and celebrating.  From the way he spoke, he is very receptive to good business advice from his father.  That says a lot.  I'm quite confident that Josh will do just fine.  I think some of you here would really love to see him fail, based on your comments here.  That's kinda sad.  

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25 minutes ago, Roli said:

 

Wow.  Lots of assumptions.  Did you watch the backyard interviews?  Or anything since then?  

 

There's nothing wrong with taking a bit of his winnings and celebrating.  From the way he spoke, he is very receptive to good business advice from his father.  That says a lot.  I'm quite confident that Josh will do just fine.  I think some of you here would really love to see him fail, based on your comments here.  That's kinda sad.  

Yes and yes.  I didn't say there was anything wrong with a celebration.  That's what he told Dr. Will he would do.  As for the rest it's what happens when a lot of people win large sums.  People come out of the woodwork for handouts.  Long lost cousins, friend of a friend etc.  I guess you didn't read my earlier post where I said his parents got him a financial advisor.  And that's a good thing because at his age he will be tempted to blow the money on stuff, his friends and not invest in his future.

He's only 23 and also very immature.  So this is just MHO.  If I had won $500K at that age the last thing on my mind would be setting it aside to invest for the future.  You can't honestly think he's a wise independent thinker and business savvy when his "enterprise" consists of selling hair products on EBay.  

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20 minutes ago, HeleneL said:

Yes and yes.  I didn't say there was anything wrong with a celebration.  That's what he told Dr. Will he would do.  As for the rest it's what happens when a lot of people win large sums.  People come out of the woodwork for handouts.  Long lost cousins, friend of a friend etc.  I guess you didn't read my earlier post where I said his parents got him a financial advisor.  And that's a good thing because at his age he will be tempted to blow the money on stuff, his friends and not invest in his future.

He's only 23 and also very immature.  So this is just MHO.  If I had won $500K at that age the last thing on my mind would be setting it aside to invest for the future.  You can't honestly think he's a wise independent thinker and business savvy when his "enterprise" consists of selling hair products on EBay.  

 

I'm not buying your premise that he's immature.  You don't know that.  You only know what you saw him portray on a reality television show.  

 

20 minutes ago, HeleneL said:

You can't honestly think he's a wise independent thinker and business savvy when his "enterprise" consists of selling hair products on EBay.  

 

Well, I can't HONESTLY doubt it either.  As far as the ebay thing, I didn't see any link to his supposed ebay business.  Are we sure it wasn't someone's speculation?  Or maybe even an outright lie?  That's not unheard of on these boards.  Just sayin'.

 

And yes, coming into money can be a real challenge when it comes to beggars.  It can be a real eye-opening experience.  Now he can simply say, "I'll run it by my financial advisor" and then say his money is tied up.  If they're mad, they're mad.  Small loss. 

 

Edit:  I just want to add, an Ebay business can be very lucrative.  I don't think it's necessarily something to scoff at.  JMO

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9 minutes ago, Roli said:

 

I'm not buying your premise that he's immature.  You don't know that.  You only know what you saw him portray on a reality television show.  

 

 

 

 

Edit:  I just want to add, an Ebay business can be very lucrative.  I don't think it's necessarily something to scoff at.  JMO

 

Well if he isn't,  he sure acted the part of an immature brat very well.  I seriously doubt people can keep up pretenses for 90 days.  At some point true colors come out.

As for Ebay I know it can be lucrative and I'm not scoffing at it.  I know people who make a good living at it.  I'm just saying it doesn't take a "Bill Gates" to do it. 

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2 hours ago, Lamasquerade said:

Why is it that some HGs could be analyzed by posters, yet it is considered an attack if anything negative is posted about other hg?  So we can judge Josh for banging pans, but we can't judge Cody for saying riots are fun or for Jessica finger butt poking other hg?  

Actually I don't judge anybody.  I'm just stating what I think of them. Far as I'm concerned these people will be forgotten by next week.  You can judge Cody and his riot trips all you want, I don't care.  As for Jessica, I don't hate her, she was more likable after Cody left, I didn't like the zebra striped braid she was wearing and if you noticed the daggers sticking out from the ends of her fingers I doubt she'll be doing any butt-poking any time soon.  But I don't care.  Just stating what I saw, what I experienced, what I thought and that's it.  

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32 minutes ago, HeleneL said:

Actually I don't judge anybody.  I'm just stating what I think of them.

 

HelenL, I like reading your posts, but.....isn't that what judging is?  

 

33 minutes ago, HeleneL said:

I didn't like the zebra striped braid she was wearing and if you noticed the daggers sticking out from the ends of her fingers I doubt she'll be doing any butt-poking any time soon.

 

ROFL!  Good point.  

I didn't mind her zebra striped hair, but hopefully she can get her scalp in good enough condition at some point that she won't feel the need to glue in hair.  I just can't imagine how uncomfortable that must be.  

 

 

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3 hours ago, Lamasquerade said:

Why is it that some HGs could be analyzed by posters, yet it is considered an attack if anything negative is posted about other hg?  So we can judge Josh for banging pans, but we can't judge Cody for saying riots are fun or for Jessica finger butt poking other hg?  

 

I judge 'em all, I'm not a politician trying to appease everyone. In the beginning I thought Cody was a tool. But then I realized he was just a screwdriver compared to Paul being a Milwaukee hammer drill.

 

Cody didn't say riots were fun and Jess could have poked me in the ass all day, one good turn deserves another, if you know what I mean.

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1 hour ago, HeleneL said:

Actually I don't judge anybody.  I'm just stating what I think of them. Far as I'm concerned these people will be forgotten by next week.  You can judge Cody and his riot trips all you want, I don't care.  As for Jessica, I don't hate her, she was more likable after Cody left, I didn't like the zebra striped braid she was wearing and if you noticed the daggers sticking out from the ends of her fingers I doubt she'll be doing any butt-poking any time soon.  But I don't care.  Just stating what I saw, what I experienced, what I thought and that's it.  

I don't hate them either because I don't know them personally, but doesn't mean I can't comment about things they say or do. They were all villains IMO and we are all judging them.

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59 minutes ago, WOC said:

 

I judge 'em all, I'm not a politician trying to appease everyone. In the beginning I thought Cody was a tool. But then I realized he was just a screwdriver compared to Paul being a Milwaukee hammer drill.

 

Cody didn't say riots were fun and Jess could have poked me in the ass all day, one good turn deserves another, if you know what I mean.

He said he enjoyed them, which means they were not, not fun.

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7 hours ago, HeleneL said:

Oh I agree.  His parents know exactly what would happen if they didn't take charge.  He's extremely immature.  His first order of business after the show was taking everybody out on a drinking binge.  Of course he'll foot the bill. Then it might be dinner for all his friends and family when he gets home.  Then a cousin needs money to pay the rent and another needs a car and poof the money is gone in no time.  His winning was pure dumb luck occasioned by his immaturity.  Instead of making big moves inside the house he decided to tattle tale to evicted HGs about the goings on in the house which turned out to be a major advantage.  HGs were already furious and that last bit just fueled their intention not to let Paul win. 

That was his way of playing the game.  Paul's way of playing the game was to bully some of the people himself and get Josh and others to bully when he didn't want to get his hands bloody. I am happy that Josh won.  He has turned out to be nicer than I thought at first.

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5 hours ago, WOC said:

 

I judge 'em all, I'm not a politician trying to appease everyone. In the beginning I thought Cody was a tool. But then I realized he was just a screwdriver compared to Paul being a Milwaukee hammer drill.

 

Cody didn't say riots were fun and Jess could have poked me in the ass all day, one good turn deserves another, if you know what I mean.

You are hilarious!!  Belly laughing !!!

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Boy do I love reading these boards.   HeleneL, before I say the next thing... know that you are one of my FAVORITE posters on here...  NOW, I say this: I judge people and situations ALL the time.  I say that we all do because that is how we get along, how we survive, and how we make good decisions.  There is judging, and then there is judging....  and I got very judgmental with the house guests (more critical than normal in other words), but that is pretty much why I watch big brother, to judge how they treat each other. And then I acknowledge that I couldn't take that place, as I need a lot of quite alone time.  So my behavior would get crazy pretty quick, as I need so much quiet. I think that is why I reacted so strongly to Josh. Banging pans in my household would get you banished from the kingdom immediately and  permanently.  My husband and I work well together because we have the same tastes, and knew that before we got married.  Just as I judge the big brother contestants, and I say if you don't want to be judged, you certainly shouldn't try out for a reality show since you know that is part of the scene, I like to see how other people react to the contestants.  That too is part of my education about human behavior.   As I read these boards, I speculate about the people writing on here, and I am sure some of my assumptions are way off base and some are probably right on. It is harmless as I don't take it seriously, and it is all just part of the fun and occasionally part of a learning experience. 

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18 minutes ago, WhatADay said:

Boy do I love reading these boards.   HeleneL, before I say the next thing... know that you are one of my FAVORITE posters on here...  NOW, I say this: I judge people and situations ALL the time.  I say that we all do because that is how we get along, how we survive, and how we make good decisions.  There is judging, and then there is judging....  and I got very judgmental with the house guests (more critical than normal in other words), but that is pretty much why I watch big brother, to judge how they treat each other. And then I acknowledge that I couldn't take that place, as I need a lot of quite alone time.  So my behavior would get crazy pretty quick, as I need so much quiet. I think that is why I reacted so strongly to Josh. Banging pans in my household would get you banished from the kingdom immediately and  permanently.  My husband and I work well together because we have the same tastes, and knew that before we got married.  Just as I judge the big brother contestants, and I say if you don't want to be judged, you certainly shouldn't try out for a reality show since you know that is part of the scene, I like to see how other people react to the contestants.  That too is part of my education about human behavior.   As I read these boards, I speculate about the people writing on here, and I am sure some of my assumptions are way off base and some are probably right on. It is harmless as I don't take it seriously, and it is all just part of the fun and occasionally part of a learning experience. 

I agree love reading these posts looking at situations from someone else 's perspective can make you think  and I enjoy reading these.  

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