Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for March, 2003

Posted by taxguru on March 31, 2003

More From The Tax Cut War Front



The Bad Guys:





Tax cut danger



Lay Off the Tax Candy



Mixed Feelings on Scaled-Back Tax Cut



Bush Is Using the War to Justify Risky Tax Scheme



The Good Guys:





Short-sighted senators must rethink their position on the Bush tax-cut plan.



As is normally the case, the media’s overwhelming left-wing bias does mean that we are outnumbered in terms of media coverage.

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Posted by taxguru on March 31, 2003

Dismantling Prop 13



25 years ago, the voters of the PRC passed a ground breaking property tax reduction measure and limit on future taxes.  It shouldn’t be any surprise that, given the deep financial hole the rulers out there on the Left Coast have dug for themselves, they are looking for ways to unravel the tax limits in Proposition 13.  Just as no tax is temporary, no tax limit is permanent.  



KMK

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Posted by taxguru on March 31, 2003

California closer to Net sales tax



This will start a trend around the country. 

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Posted by taxguru on March 31, 2003


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Posted by taxguru on March 31, 2003

Tax Cuts Still Possible



It was good to see this claim that the friends of capitalism are going to keep up the fight for the full Bush tax cut.  It seems that the only way the Senate was able to reduce the plan, as it did last week, was because a couple of dim bulb GOP Senators fell for the Social Security lock box scam and voted with the DemonRats. As has been illustrated countless times, intelligence is no requirement to be elected to positions of power.



KMK

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Posted by taxguru on March 30, 2003

CCAGW Warns Congress Not to Use War Supplemental as an Excuse for Pork



That’s as realistic as asking Bill Clinton to keep his hands to himself when he visits a Hooters restaurant.  Some impulses are truly impossible to resist or control.

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Posted by taxguru on March 30, 2003

State Taxes



This is an interesting look at the issue of the tax burden on residents of various states, as the rulers of the PRC debate increasing their income taxes even more.  The wiser among them realize this will just compound the problem even more by motivating more people and corporations to move to nearby states with no income tax, such as Nevada and Washington.



As pointed out in the article, income taxes are just one piece of the overall tax burden.  Most states without an income tax make it up through other means, such as sales and property taxes.  This is why there is no cut and dried answer to the question of which state has the lowest overall tax burden.  The answer would be different if you are a property owner or a renter. 



However, the cited examples of average per capita state taxes are interesting.  For 2000, Alabama had the lowest ($2,117) and Connecticut the highest ($4,600).  With the PRC’s average burden rated at the tenth highest ($3,550), it seems like too many rulers in Sacramento feel safe in raising taxes. 



Also interesting in this article is the almost universal appeal of soaking nicotine addicts with increasing taxes.  They have become virtual pariahs of our society, supposedly deserving of increasing financial punishment for their sin.



KMK

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Posted by taxguru on March 29, 2003

Making tax cheats pay up can pay off



However, before striking it rich by turning in all of the tax cheats you know, make sure your house is in order.  I have seen plenty of cases where informants had the whole thing bite them in the butt when the tables were turned on them.  That’s in addition to the inevitable retribution from the persons being turned in.   

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Posted by taxguru on March 29, 2003

It is a fact that the momentum for the tax cut has been slowed by the Iraq situation.

While a few of the editorial cartoonists around the country seem to grasp that, most of them feel a need to continue to spread the Left’s lies about the tax plan, such as it’s only for the evil rich, it is irresponsible in times of war, and it will increase the deficit. All of those are untrue and will not be tolerated here. Our rulers in DC, especially the Senate, need to focus on the truth that reducing tax rates will encourage much more economic activity and more tax revenue, and fight off the Left’s propaganda machinery.

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Posted by taxguru on March 29, 2003

Estate planning has a lot of twists.

Some parents let their future heirs know what to expect, while others keep it a secret. My instinct is that giving your kids a reason to hope for your early demise may not be the wisest move.


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