Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Archive for August 22nd, 2002

Posted by taxguru on August 22, 2002

Why You Shouldn’t Brag About Some Jobs

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Posted by taxguru on August 22, 2002

Circling The Drain

Our Founding Fathers thought like CPAs when they set up the Federal government with three official plus one unofficial (the press) branches, and established checks and balances and division of duties so that there would be less likelihood of collusion among them against the best interests of the people. If they had a crystal ball back in 1789, and could see how such collusion has occurred, I imagine they may have divided things up even further, with a dozen or more branches.

The ultimate check on ensuring compliance with the Constitution was supposed to be the Supreme Court. With justices appointed for life terms, they were supposed to be immune from the forces of public opinion and stick to a rigid defense of the Constitution. However, as described by Howard Bashman, that last bastion of defense has fallen. Our current Supreme Court is using popularity polls on which to base its decisions. I would call for impeaching the justices who think it’s more important to please the ignorant people than support the Constitution; but that would obviously garner little support; especially since so few people in this country have even a clue as to what the Constitution says. Very sad for the USA.

KMK

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Posted by taxguru on August 22, 2002

What’s A Vacation?

Fellow workaholic self employed folks will relate to this:

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Posted by taxguru on August 22, 2002

Adjusting Capital Gains For Inflation

History repeats itself yet again. There is a lot of discussion of changing the tax law to allow capital gains to be adjusted for the effects of inflation. The underlying assumption is that Congress has to pass such a law. That is not true. Bush doesn’t have to wait for Congress to change the law to adjust the cost basis of capital assets for inflation. He has the power to do this on his own.

Back in 1992, Bush 41 was encouraged to do just that; but he wimped out because it would have been too confrontational. I am afraid that Bush 43 is just as timid. While he talks tough on the war on terrorism, he is scared to death to take on the liberals on domestic issues, such as taxes.

I have written extensively about this topic, including this.

KMK

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Posted by taxguru on August 22, 2002

Diversion Trick

Just as magicians need to divert the audience’s attention from the real action, our rulers are ever so glad to make sure everyone is paying close attention to the funny accounting tricks being played by some large corporations, while they continue doing things that are much more corrupt and that affect many more people than any corporation does.


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