Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for September, 2003

Posted by taxguru on September 4, 2003

Dim and Dimmer in California – George Will on the RINO Schwarzenegger.

I watched the first hour of the debate yesterday and was amazed at how vehemently the socialist candidates (Huffington, Bustamante, and Camejo) were with their support of the Marxist wealth redistribution ideas of Arnold’s financial guru, Warren Buffett. Arrianna Huffington even wants to change the property tax rules to make them based on people’s income. Under her concept of attacking the wealthy, the evil rich should pay more in property taxes than the “poor” people on the same properties.

Peter Ueberroth seemed as if he was half asleep and was as dull and uninspiring as the French looking presidential wannabe, John F. Kerry. The only person who appeared in control of the facts and had any leadership charisma was Tom McClintock. He was very impressive. I don’t think my opinion of the debate would have been any different even if Arnold had participated.

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IRS Does Not Tolerate Competition

Posted by taxguru on September 4, 2003

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Posted by taxguru on September 3, 2003

For Calif. GOP, It’s Principles vs. Potential. Republicans May Look Past Weaker Conservative Credentials in Hopes of a Win – In other words, is a RINO better than a DemonRat?

Increasing federal spending deepens deficit – And not the tax cuts, as the leftist media are trying to claim.

Thou shalt pay more taxes – Alabama’s governor is still trying to use the Bible to justify raising taxes.

Recall Fever Spreads to Nevada – Tax hikes are not receiving a warm welcome. They need to work this out in Nevada because the mass exodus of tax refugees from the PRC is going to grow.

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Political Theater

Posted by taxguru on September 3, 2003

One of the many wonderful features of the Internet is the ability to access news and media from anywhere in the world. We are no longer lmiited to just those things our local radio and television stations choose to air. In fact, via the web has been the only way I have been able to hear Rush Limbaugh’s show, with no local radio stations brave enough to carry it.

The biggest political circus currently underway is the recall election in the PRC. Tonight (Wednesday, 9/3/03) the first official debate between the current governor, Gray-Out Doofus, and the five top candidates to replace him, is scheduled to take place in Walnut Creek. I’m not sure if the offer from Jay Leno is still open to have all 135+ candidates sit in his audience; but the less popular candidates are not allowed in tonight’s debate.

For those folks fortunate to be outside the PRC, there is a way to watch the proceedings live over the web. There are probably other feeds; but I found one that is supposed to be accessible on the Contra Costa Times website. The debate is scheduled for 4:00 pm through 6:00 pm Pacific Time. That would be 6-8 here in the Central time zone and 7-9 on the East coast.

As has been well publicized, Arnold is sitting this one out. However, it should still be a lot more interesting than any of the ridiculous debates among the DemonRat presidential wannabes. Those shows are completely meaningless and are intended as nothing more than a way to make everyone beg Queen Hillary to ride in on her white steed (broom) and save the JackAss Party from humiliation at the polls next November.

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Arnold’s Most Challenging Role – Portraying A Conservative

Posted by taxguru on September 2, 2003

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It’s Hopeless For the PRC

Posted by taxguru on September 2, 2003

Here are just a couple of reasons, other than the high taxes I normally discuss, that the name “People’s Republic of California” is justly deserved. The mindset among the rulers out there isn’t very different than full out socialism.

They refuse to accept the realities of the basic supply and demand laws of economics and continue to assume that they can force certain results. Those are no more possible than making water flow uphill or the sun rise in the West.

This isn’t new and is the very reason why I, after living in the San Francisco Bay Area for 38 years, decided to leave almost eleven years ago. Things have deteriorated since then, and show no sign of improving.

Price controls on gasoline – Lower prices will result in lower supply and more shortages.

Forcing employers to pay for employee medical costs – Higher costs on employers will result in fewer employers staying inside the PRC and those who do stay will hire fewer workers.

It is becoming much more difficult to counter those who believe it would be best for the USA if the PRC were to just break off and float off into the Pacific; or those like Cruz Bustamante, who want to give the State back to Mexico.

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Posted by taxguru on September 2, 2003


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Harrison Abstract Fiasco

Posted by taxguru on September 1, 2003

Many people haven’t been as lucky as some of our clients were by being able to get their funds released from the Harrison Abstract custodian.

One couple still has over $80,000 locked up, preventing them from completing the purchase of the home they are currently occupying.

One woman’s lender has its $175,000 loan money frozen in the Harrison Abstract mess. This article tries to paint the picture that this woman owes $350,000 on a house that only cost her $175,000. That’s ridiculous. She only owes $175,000 and the bank just has to wait to get the rest of its money back. It’s interesting that the bank isn’t named. Some local banks are still being investigated for their involvement in the embezzlement.

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Refinancing 1031 Properties

Posted by taxguru on September 1, 2003

I’ve posted a new article on how to properly refinance property to pull out tax free cash without jeopardizing a Section 1031 tax free exchange.

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Divide & Conquer

Posted by taxguru on September 1, 2003

Pressure’s on Senator to Drop Out of Race, but Why Should He? – The liberal media are doing everything they can to ensure that the GOP votes are spread so thin among several candidates that nobody can overpower their choice, the high tax loving racist, Cruz Bustamante (aka “Davis Heavy”).

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