Fiscal Conservatives Say Hurray for Tax Cut

GOP Mission Accomplished: Tax Relief

Fiscal Conservatives Say Hurray for Tax Cut

Bush accepts size of tax cut

Tax Cut Plan Cut in Half, But Dan Rather Still Calls it “Big” – Any tax cut is by definition too big and dangerous in the minds of the lefties. 

Yo-Yo Economics – These new cuts still have to be made permanent or else they will disappear in a few years, snapping us all back to the higher tax rates we had until now.

Most to Reap Benefits of Bill – Not just the evil rich. 

Bush Claims Tax Cut Victory as Congress Nears Final OK

Congress Passes $350 Billion Tax Package. Cheney Casts Deciding Vote in Close Senate Passage – There’s just something ironic about Cheney being the tie breaker of a large retroactive tax cut ten years after AlGore cast the tie breaker for the largest retroactive tax increase in 1993. 

Bush likes ‘little bitty’ tax cut

Bush Lauds Congress for Cutting Taxes

Bush retreat eased tax bill�s advance.  President, aides find compromise tax cut beats none at all

Taxpayers to get new round of cuts. $400-per-child refunds, less withholding among cuts

A Tax Cut Without End – This is a bad thing in the opinion of the New York Slimes.

Planned Tax Cut Called 3rd Biggest

Tax-Cut Scorecard.  It�s not all Bush asked for, but it will add materially to economic growth.

A Tax Cut Worth Cheering. It will boost the economy � and Bush.

Tax cut checks due in months

Breaks for almost everyone in tax bill

PREZ HAILS HIS BIG WIN ON TAX CUT

Bill Gates the Elder Is Still Spouting His Marxist rhetoric in support of wealth redistribution by the government  

Tax cut heads for final OK in Congress. Quick passage means bigger payday July 1

Reverse Mortgage Can Really Help Seniors 

One of the most frustrating things for me has long been trying to convince seniors that it’s not a sin to tap into the equity in their homes and enjoy their lives a little before they pass away.  Even with a mortgage, their heirs will still be receiving very lucrative tax free windfalls when they go.  They shouldn’t feel the least guilty about using some of their own wealth while they are alive, in spite of pestering by greedy kids who want their parents to live the most Spartan lifestyles to preserve their inheritance. 

While reverse mortgages are useful methods of getting access to equity, a more effective approach is often to borrow a large lump sum, especially with current low interest rates, stick half in the bank from which to service the debt for the rest of the borrower’s life, and play with the other half.

Bush can still claim victory on tax cuts

Senate Approves Tax Cut in 51-50 Vote

The tax cut: What’s in it for you?

Silicon Valley-backed tax break gets the ax.  Tech industry looked forward to economic boost – A lot of special interest tax breaks ended up on the cutting room floor in the final version.  That’s what always happens, which is why it’s never a good idea to change behavior until the law is finalized. 

Three Wise Men? – Another great debunking by Neil Cavuto of the supposed financial gurus.

States Look for New Sources of Tax Revenues

Senate Approves $330 Billion in Tax Cuts

Understanding Changes May Prove to Be Taxing – A good summary of most of the changes in the new tax law.  I am planning to incorporate these new changes into the tax rate info on my main website over this weekend.  I will post a note when it is ready.

Tax Cuts Need to be Pro-Growth, Immediate and Permanent

Sausage and tax cuts

Crossing the Finish Line on Tax Cuts. Congress delivers a pretty good tax cut package. We want another one next year! 

Lawsuits Over Tax Shelters Suggest Hard Sell by KPMG 

It should be a dead giveaway that things are fishy when you are required to pay millions of dollars, sign a confidentiality agreement, and are barred from seeking a second opinion from any other experts in order to participate in a top secret tax savings plan.  If you aren’t allowed to verify the legality of a tax strategy with another independent source, that’s a huge red flag that it’s a crooked deal.  Proceed any further at your own risk.

To be honest, I’m having the same feelings about the people who fall for these schemes as those who follow the tax protestor scamsters.  Anyone that stupid really deserves to lose their money.  I know it sounds cruel; but it’s my Darwinian way of looking at the world and seeing that the smartest among us survive and the idiots don’t.  It’s a kind of financial JackAss for weeding out those with too little intelligence to survive.      

Investors Find New Ways to Put Pension Money Into Real Estate – This is good news, as I have for years been trying to convince more people to invest their IRA, SEP and Keogh funds in real estate so they could avoid the Enron type pitfalls; but it’s been tough finding plan administrators who were willing or able to handle it.  I’m hoping more administrators add real estate as a standard choice for investing retirement money.  As I’ve always said, real estate is a lot more reliable in regard to accumulating wealth for retirement years than investing in stocks.

Drug Tax Stamp

I first saw this a few months ago. I’m still not sure if it’s a hoax or not.  The State of Kansas is supposedly trying to get drug dealers to buy tax stamps ($100 minimum) to put on their products.  If I’m reading the rules right, there may be a bigger penalty for being caught with illegal drugs that don’t have the tax stamp than just for being a dope dealer. 

This seems to illustrate a couple of truisms.

If you can’t stop an activity, at least tax it.

As happened with Al Capone, authorities are much more able to throw someone in jail for tax evasion than for what most people would consider to be more serious crimes (murder, drugs, bribery, etc.).

I contacted the Kansas Dept. of Revenue and asked them how much money they actually collect from this.  I will post their response.

Bush: Will Sign $350B Tax-Cutting Bill

Bush Says He Will Sign $350 Billion Tax Cut Deal

Bush embraces tax-cut compromise. $350 billion package set for likely passage Friday

Bush Will Sign Half a Tax Cut

The Tax Cut Is For Dreamers

Tentative Tax Cut Deal Reached. House and Senate Negotiators Back $350B Plan

Republicans leave some dividend money on the tax table.

Bush’s tax dictate

Grassley makes tax deal

Bush’s tax-cut victory Is A Good Deal

Weak link on the left – Libs are lying in their attempts to connect tax cuts to deficits.

Warren Buffett Is Wrong! What he calls �voodoo,� is just what we need.

The Stooge of Omaha? – Both Stephen Moore and Neil Cavuto share my opinion that the supposed capitalist guru is nothing more than a typically selfish Marxist.  He made his billions and now wants to make sure others aren’t able to do the same.   

Dangers of the dividend tax cut to Marxism – Lower tax rates = less control and power for the central government, something Buffett and his Fellow Travelers can’t stomach. 

Winning the tax-cut wrap-up

$318 Billion Deal Is Set in Congress for Cutting Taxes

Gas Tax Hikes In The Works –  With income tax rates ready to be reduced, our rulers in DC are working on plans to add another 5.4 cents in Federal tax to each gallon of gasoline we buy.  They realize they can sneak this in pretty well undetected with the recent drops in pump prices.  Some groups that are opposed to this new increase:

Americans For Tax Reform

National Taxpayers Union

Citizens Against Government Waste

 

Dividend-Tax Cut Runs Risk Of Opening More Loopholes – Of course it will.  That’s how the tax game is played; utilize every technique that is legally available.

“The Congress is a circus. To the music of braying donkeys, each elephant is led in circles by the tail of another. While they have the peoples’ attention, the clowns write the tax laws.”
            —Jim Boren