Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Archive for July 17th, 2010

Posted by taxguru on July 17, 2010

Americans Voting with their Feet – Renouncing American citizenship is an extreme way to save taxes, but everyone has their breaking point. 

Both parties mull raising retirement age – Just one more illustration of what a scam Social Security is. If a private company were to sell investors a retirement package where the rules could be altered after the fact in order to decrease the odds of receiving anything back, those folks would be in the slammer for fraud. Our elected rulers are allowed to do these fraudulent things over and over and are treated as royalty.

Fouled by the taxman – LeBron James is going to be savings millions in State income taxes by having his tax home in Florida instead of a taxable State.  Very wise move.

The Bush Tax Cuts and the Deficit Myth – The lefty lies and propaganda in regard to this will continue to heat up as the expiration date nears. Anyone with any common sense can tell that the deficit has everything to do with the out of control insane unconstitutional spending spree our rulers are on and nothing to do with the lower tax rates Bush signed into law. In fact, the deficits would be even worse if the cuts were not in effect, as will be seen again if they do expire. Taxable economic activity will slow down considerably if the government is allowed to steal an even higher percentage of everything.

Man tries to pay tax with 200,000 pennies – This story from Canada is amusing.  While this taxpayer was shut down by a Canadian law limiting the use of pennies to 25 at a time, it brings up a concept I have discussed frequently.  It has long been my contention that people aren’t as worked up as they should be over their true tax burdens because their payment is relatively painless through the insidious use of withholdings.  Out of sight, out of mind.  People need to feel the pain more directly.  If every person were required to pay his taxes directly by writing checks, or better still, counting out one dollar bills in front of the tax collector, they would feel the impact much more.  Counting out pennies would be even more painful to deal with.

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