Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Posted by taxguru on July 13, 2003

Blogs breaking logjam of journalism – Between Fox News and the growing blogosphere, the mainstream liberal media are having conniption fits at their loss of monopoly power over what we little people are allowed to know.

Cat fight – Good look at how the disorganized GOP in the PRC will almost certainly mess up the opportunity to exploit the possible recall of Governor Gray-out Doofus.

Daniel Weintraub: California’s sales tax is the ultimate roller coaster – As I’ve always said, any revenue projection made by our State or Federal rulers is nothing more than a WAG (will ass guess). It’s not possible to be anything but that because the actual dollar amounts generated by some kinds of taxes are just impossible to predict with any level of accuracy. It’s always been one of my many pet peeves with the media that they just willingly accept any forecasts as gospel and never challenge the underlying assumptions. They’re still crediting Bill Clinton with producing a five trillion dollar surplus which they then blame Bush for squandering. The Clinton numbers were complete fabrications and were based on the underlying assumption that the stock market would increase by over 20% per year forever, with a continuous flow of taxes from those profits. This may sound like a joke, but is exactly where those projected surpluses came from. Only the biggest mind-numb morons (aka Clinton worshippers) could swallow that load of crap.

The real problem with government budgets has long been that our rulers construct big expensive government programs based on the assumption of their overly optimistic revenue predictions and are later all confused when there is a short-fall.

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