Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for January 25th, 2003

Posted by taxguru on January 25, 2003

Although there is a big discrepancy in who pays the major share of taxes in this country, the widespread confusion over the horrendous tax code is shared by everyone of all income levels.


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Posted by taxguru on January 25, 2003

Senate Democrats Introduce Payroll Tax Refund Plan

I would actually support this idea in addition to Bush’s cuts, not instead of. For many people, payroll taxes are much higher than their income taxes. In addition, this would be a nice tax cut for employers.

KMK

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Posted by taxguru on January 25, 2003

Social Security Reform

Allowing people to have more control over where their retirement money is invested is another issue that still needs to be addressed. Although in the long term, investing retirement money in the stock market is not as risky as it would seem from the past few years’ performance, I am no more a fan of investing retirement money in the stock market than non-retirement money. There are plenty of other much safer investment vehicles that will be more certain to provide for future years. However, given a choice between the Federal Social Security Ponzi scheme and other alternatives, I would have more confidence in lottery tickets than in entrusting any more money to our incompetent corrupt rulers in DC.

KMK

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Posted by taxguru on January 25, 2003

Another Questionable Poll

I have always been skeptical about public opinion polls for several reasons. The fact that the pollsters slant their questions in such a way as to achieve desired results is a big reason not to trust the conclusions. This poll that claims that a majority of people don’t believe that taxes are too high in this country has its own built-in idiocy. One indicator that the respondents weren’t exactly Mensa material is the explanation that, because they had too much tax withheld from their paychecks and thus received refunds, their taxes aren’t high.

KMK

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Posted by taxguru on January 25, 2003

The latest tax policy of the DemonRats.


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Posted by taxguru on January 25, 2003

Estate Tax Is Still An Issue

With all of the current focus on proposed changes to the income tax laws, such as making corporate dividends tax free, we need to remember that the issue of repealing the estate (aka death or inheritance) tax is still too important to overlook. The threshold for taxable estates will be getting higher each year until the tax doesn’t apply to anyone passing away in 2010. However, the tax will pop back to life in 2011, with a taxable threshold of one million dollars, the same as it is right now.

There are still plenty of people, such as Bill Gates, Sr, who support the concept of having the government redistribute all wealth when people pass on. Whether this endorsement of a plank in the Communist Manifesto means Mr. Gates is a full fledged commie, I don’t know. I do know that such confiscation of personal wealth is wrong. I haven’t heard Bill Gates, Jr. state his opinion on his father’s leftist views; but I doubt he is too worried. He has already protected his wealth through a series of trusts and foundations in the same manner as the Kennedy Klan did to preserve Joseph Kennedy’s bootlegging and stock scam fortune for his descendents. Such tactics have enabled Teddy Kennedy to safely espouse confiscatory taxes on everybody else.

KMK

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