The Stock Market

I’m running late, so I will comment more fully on these issues later.

The investors’ watchdog is having problems:

S.E.C. Facing Deeper Trouble

Stock market gurus are worse at predicting winners than tossing darts at the stock page.

Some widely touted analysts didn’t perform so well

New disclosure rules have some in the media quite upset:

Since when did ‘security’ mean prior restraint of print media?

�Regulate Them, Not Me!�

KMK

Free Tax Program

As I said before, tax preparation software isn’t a substitute for working with a knowledgeable and creative tax professional because it is too much GIGO (garbage in, garbage out). However, some people know that it’s good idea to check your expected tax figures before the year is over, in case things need to be done before December 31. I normally advise getting a free version of the previous year’s program, which TurboTax and other companies usually make available. However, I received an e-mail ad for a free 2002 preview TaxAct 1040 program that can be downloaded off the web. This is the earliest 2002 software I am aware of. The first version of my Lacerte 2002 programs aren’t even scheduled to be available until December 16.

I downloaded the TaxAct program (only 6.7 mb file size) and checked it out and it’s a pretty nice basic tax prep program. Of course, throughout the input time, the program keeps prompting you to buy their full deluxe version; but it isn’t as annoying as I have seen with other software. It should be very handy for anyone wanting to get a preview look at their 2002 1040.

KMK

Discriminating Against Intelligence

With all of the hoop-la over racial and other kinds of profiling, why is one industry allowed to discriminate against one type of person? I’m referring to the gambling casinos refusal to allow anyone to play who has been able to count cards or otherwise turn the odds in their favor. The casinos will only let you come in if they believe that you are going to lose. If you are savvy enough to have developed a non-cheating system of winning, as these MIT students did, you are not welcome. It sounds like outright discrimination to me.

KMK

“Kerry Embarks on 2004 Presidential Bid”

It’s a different Kerry. I’m not running in 2004.

KMK

Concord Coalition

The Concord Coalition is portrayed as a bi-partisan group for Federal fiscal responsibility. Other than liberal Democrats, the token Republican founder is former Senator Warren Rudman. Unfortunately, Sen Rudman epitomizes the term RINO (Republican in name only). Every time I have heard him speak, he claims that the worst thing he ever did in his Senate career was vote for the Reagan tax cuts of 1981 because they caused the huge deficits.

That is the same historical lie that the liberals spout. The Reagan tax rate cuts actually stimulated more overall revenue to the Federal government. The deficit was completely the fault of Congress’ out of control spending. I mention this for the umpteenth time because the Concord Coalition is speaking out against the current Bush tax cuts as being a repeat of the Reagan supply side economics, with larger deficits in store.

While it is actually another try at supply side economics, it will not increase the deficit unless Congress goes on a wild spending binge. Unfortunately, I’m not so sure that won’t happen, even with the so-called fiscally responsible GOP in charge. Early indications are that they are just as fond of sending pork back to their districts as the Dems have been.

KMK