Senate Panel Finds Abuses in Tax Shelter Sales

Schwarzenegger repeals car tax increase – You can’t get any faster in cutting taxes than this. Many of the reports on this on FoxNews claimed that this would immediately add over $4 billion dollars to the State’s budget deficit. That’s ridiculous. As I’ve pointed out over the past month, new car sales have dropped like a rock since Davis tripled the car tax. The lost sales tax revenue must have made the car tax revenue seem like a drop in the bucket. Why isn’t anyone reporting how much new sales tax revenue will start flowing to the State and counties now that Arnold has repealed the higher car tax?

Davis’ Pension: About $105,000 – Politics is one of the few professions where a person can be fired for gross incompetence and corruption, yet still retire handsomely at taxpayer expense.

Stop the Email Tax – Doing nothing to prevent taxes on Internet services is not an option.

Fewer workers make use of 401(k)s – Assuming the money is invested wisely, deferred comp plans are much better tax savings vehicles than IRAs.

Ask about Social Security – Don’t hold your breath waiting for any of our rulers, least of all the DemonRat presidential wannabes, to fix this disaster of a retirement plan.