Senate Kills Move to Make Tax Cuts Harder – But it’s still an uphill battle to make the tax cuts permanent. If that doesn’t happen, we will be facing the largest tax hike ever when the tax cuts expire, which the DemonRats would love to see happen.

Lotto winner fails to claim $28.5 million. 6-month window closes; schools share in prize – Most other states allow a full twelve months to claim lottery winnings. Even the IRS gives people three years to recover overpaid taxes.

In stock market, US senators beat averages – Obviously, this is nothing but a coincidence. Elected officials profiting from private information and special connections? Perish the thought! Martha Stewart couldn’t ever have obtained a tiny fraction of the insider information in her entire lifetime that our rulers receive each and every day. It is no coincidence that most our rulers mysteriously become hundreds of times wealthier than when they first took office.

CAGW Calls for USPS Audit – That would be one doozy of an audit.

Woman Tried to Pass Fake Million Dollar Bill – Every idiot is looking for an even stupider person to con. Wal Mart may make billions of dollars in sales every day; but to expect them to accept a million dollar bill at the cash register definitely earns this Georgia woman a spot on the “Stupid Criminals” list. The Smoking Gun has a photo of this moron, as well as a small one of the million dollar bill.

They also have a reminder of an earlier case where a guy in North Carolina was actually able to use a $200 bill with George W. Bush’s picture on it. What is it about the South with funny money?

Ohio Sales Tax Repeal Efforts Could Effect Bond Rating – Thanks again to Dana Stahl for passing this along. Dana shares my disappointment that CPA societies are frequently lobbying in favor of higher taxes and against efforts to reduce them.

Change the State Budget Game – Dick Armey pushing for a State Taxpayer Bill of Rights. I like his quote, “Three groups spend other people’s money: children, thieves, politicians. All three need supervision.”

What’s Wrong with Insider Trading? – Stephen Moore has an interesting look at the issue of insider trading.

Because I know many of the people involved in all sorts of ways in this mess, I have been following this case closely. This article in the Harrison paper, claiming that Dian Brown gave up all ownership rights to the properties she bought with the stolen money, is a completely wrong interpretation of what it means to deed property into the name of a living trust.

I wrote a response to the paper’s editor yesterday, and as of last night it hadn’t been posted to their website. However, it is up there as of this morning. I don’t like repeating myself, but such misunderstandings regarding living trusts and asset protection strategies are very common; so here is my letter regarding the Dian Brown case.

Your description of the new ownership of Dian Brown’s property as a “trust fund” is misleading. A living (aka revocable) trust is an estate planning technique used to avoid probate on a person’s assets after they pass away. While the individuals are alive, the tax and other ownership rights are exactly the same as if the properties were owned directly in the individual’s name.

While many people believe they can hide assets from lawsuits and judgments by titling them in the name of a living trust, that isn’t the case. Using a separate legal entity, such as a corporation, LLC or FLP (family limited partnership) is more effective at providing that level of protection.

In either case, Dian Brown’s transfer of her ownership in property in an attempt to avoid repercussions from her alleged thefts could very easily be classified as a fraudulent conveyance and set aside if needed to make any restitution as may be ordered by the court.

I just wanted to clarify the misleading impression that your story gave; that Dian Brown has been able to hide her property from any action in this case.

Just as the term “public servant” no longer means that our elected officials work for us because they rule over our lives…

The impossible reform – William F. Buckley is skeptical of the idea that anything positive will come from all the talk about fixing Social Security.

How to Get Federal Spending Under Control

Plan to Reform Virginia’s Tax Code Pushes Sales Tax Repeal