NewsBusted had some good stabs at the insane financial policies that are GAAP (generally accepted accounting principles) in the other worldy planet of Washington DC.
These clips were taken from the following episodes:
Archive for October, 2013
DC’s “Twilight Zone” Finances
Posted by taxguru on October 29, 2013
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How will IRS do as ObamaCare enforcer?
Posted by taxguru on October 29, 2013
Byron York can expect an IRS audit notice for pointing out these shortcomings by the agency that will soon have much more power over our lives.
Arrival of Obamacare puts focus on IRS tax-credit scandal
IRS pays illegals $4.2 billion while stalling tea parties – They have their agenda.
Rush Limbaugh is used to heavy IRS harassment; so he had no hesitation in providing this explanation of how to avoid the penalties for not buying the mandated health insurance. The one flaw in Rush’s strategy is the assumption that IRS will obey this aspect of the 2,500 page ObamaCare legislation. Based on past performance, it’s safe to assume that IRS will not abide by this limitation on their ability to force payment of the penalty by using their normal hard-ball aggressive tactics.
Opt-Out Obamacare Penalty Can’t Be Enforced — Unless You Get a Tax Refund
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Posted by taxguru on October 27, 2013
Obama’s fingerprints all over IRS Tea Party scandal – Only a complete moron would believe that the IRS attacks on opponents of the BHO Regime weren’t instigated by him.
Harry Reid: ‘Everybody … Willing to Pay More’ Taxes – More proof that residents of DC are actually living in an alternative universe from the rest of us mere humans.
A black box in your car? Some see a source of tax revenue – Another dose of Big Brother, as our money hungry rulers want to add more taxes just for driving. It’s not enough that we already pay taxes on our purchases at the pump. Also, rather than just require vehicle owners to report their odometer readings each year to determine their mileage, they want to follow us with real time surveillance.
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Posted by taxguru on October 19, 2013
From The Late Show:
Top Ten Things Americans Said When The Government Reopened
Thursday, October 17, 2013
10. “It was closed?”
9. “Is it under new management?”
8. “Nice going, guys! Treat yourselves to a vacation”
7. “No idea what was accomplished but I assume I have to pay higher taxes”
6. “How will this affect funny race-car drivers?”
5. “John McCain can get back to playing poker on his iPhone”
4. “Does this mean Ted Cruz will stop talking?”
3. “They don’t pull this kind of crap in Belarus”
2. “Only four months till the next shutdown”
1. “Great — I just paid for Chinese lessons”
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Posted by taxguru on October 19, 2013
While there are a lot of benefits to having a living (aka Revocable) trust for estate transfers, there are times when it may be overkill, as described in this article.
Why you don’t need a living trust
Incomprehensible sums – Another look at how our spendaholic rulers in DC have made a billion dollars seem like pennies, now that most of their plans involve trillions of dollars that they steal from the private sector.
When Tracking Obamacare Costs, IRS Needs to Follow its Own Rules – The double standard IRS has always operated under, where they don’t have to properly account for the money they handle, but they expect us little people to do a perfect job or pay the price.
Questions into IRS scandal still get no answers – A short recap of where the investigation into IRS crimes has gone.
Most powerful White House Obamacare official at center of IRS scandal – Another female IRS employee, Jeanne Lambrew, involved in harassing opponents of the BHO regime is being rewarded with even more power over our lives.
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It’s COLA-Lite for next year…
Posted by taxguru on October 14, 2013
The BHO Regime’s policy of artificially holding down market interest rates has its pros and cons. One of the cons is for Social Security recipients, whose next annual Cost of Living Adjustment (COLA) will be very small.
Social Security benefit increase could be among lowest in decades
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Year-End Tax Planning
Posted by taxguru on October 14, 2013
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Posted by taxguru on October 13, 2013
From Fred Thompson:
The IRS cited the shutdown as the reason for not turning over documents to members of Congress who are investigating the agency’s targeting of Tea Party groups. Apparently stonewalling is still considered a vital government function.
New documents show the IRS training manual on tax exempt groups used an example Democrat candidate named “Nancy Nice”. Who says bureaucrats don’t have a sense of humor?
A new report shows the Democratic National Committee is almost completely broke from spending in the last election. I see they’ve finally found a way to show us what Democrats can do for America.
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Laughing at the Bozos in power…
Posted by taxguru on October 11, 2013
From Argus Hamilton:
An IRS official told Congress she shared a conservative group’s tax information with the White House Wednesday. Hold the phone. If the Republicans really want to get rid of ObamaCare they should endorse it as a conservative nonprofit and let the IRS take it down.
The Economist reported that twenty-five million dollars in cash is being smuggled out of Pakistan every day. Only one percent of Pakistanis bother to pay any income taxes. The worst part is, America’s government is shut down while Pakistan’s is up and running.
President Obama met with Wall Street CEOs Thursday and warned them they should worry about a government shutdown. They are. Wall Street’s biggest concern is that the value of a politician will drop so low that ordinary citizens will be able to buy them too.
The White House hired Canadian firm CGI to run the glitch-ridden launch of ObamaCare. CGI charged fifty-five million for their computer services. Leave it to Barrack Obama to mark the two hundredth anniversary of Canada burning the White House by re-creating the event.
The U.S. government remained shut down a third day Friday as the debt default crisis approached that could wreck U.S. currency. What a mess. It’s just dawning on Americans that it’d be much cheaper to buy their health insurance from the Chinese and cut out the middle man.
President Obama greeted India Prime Minister Manmohan Singh at the White House last Friday. It was the first U.S.-India summit in three years and the leaders focused on jobs. India’s prime minister offered to do President Obama’s job for six dollars an hour.
ObamaCare applicants were shocked at coverage plans they saw online Tuesday. It’s more expensive than private plans, deductibles are huge, and the fines are cheaper than the policies. Uncle Sam went to his new doctor today with an acute case of enlarged Detroit.
Senate Leader Harry Reid rejected GOP attempts to fund the government piecemeal without funding ObamaCare. In his autobiography, he described how he was raised in a brothel. He never in his wildest dreams thought he’d grow up someday and get to run one.
New York Police are investigating the crash of a three-pound radio-controlled drone helicopter on a sidewalk on Wall Street Wednesday that just missed hitting a well-known financial analyst on the head. It shows two things. It shows some people are still really sore about losing their pensions in the crash five years ago and that their aim is improving.
President Obama declared ObamaCare the law of the land in a speech Tuesday. Civil disobedience is widespread. Many Americans would rather go to jail than enroll in ObamaCare now that O.J. Simpson has taught us that cookies are free in the prison cafeteria.
The U.S. faced a government shutdown over Congress’ refusal to fund ObamaCare and the president’s refusal to negotiate. It left Americans asking three questions. Who will inspect the chickens, who will direct air traffic, and who will put us sixteen trillion in debt?
The Postal Service is asking Congress for a three cent raise in the price of a first class stamp to forty-nine cents. We’ll pay it gladly. Last year the Postal Service lost one billion dollars, making it the most profitable branch of the United States government by far.
Colorado pot growers offered free pot to the Boulder flood victims who feel stressed out. With pot legal there, some lawmakers are proposing a thirty-five percent sales tax per ounce. Leave it to a state legislature to make the Mexican drug cartel look not so greedy.
Washington D.C. implemented a program that pays residents twelve thousand dollars if they will move close to their place of business. The program is already a hit. In fact just yesterday, three thousand prostitutes moved in right across the street from Congress.
House Republicans passed a budget resolution Thursday with an added amendment that defunds ObamaCare. To avoid a shutdown they’ll fund the government for two weeks at a time. The U.S. Congress that was designed by James Madison and descended from the House of Commons and Lords now has the financial planning skills of a college sophomore.
The Federal Reserve Bank announced it will continue buying eighty billion dollars a month of U.S. bonds to prop up the U.S. economy. The Treasury is printing money and loaning it to ourselves, and then injecting it into the economy to keep it from collapsing. ObamaCare hasn’t even started yet and already the government’s hogging all the morphine.
President Obama’s choice to head the Federal Reserve Larry Summers withdrew his name on Monday. He wouldn’t inspire a lot of confidence as the nation’s top banker. A routine background check found that he keeps his mattress stored in a safe deposit box.
President Obama said his stimulus program ignited economic recovery Monday. Not everyone agrees. A McDonald’s in Tulsa offers customers the Obama Special–you can order everything you want on the menu, and the next three people in line have to pay for it.
From F.R. Duplantier:
WAGE WAR
A burger the price of a steak?
A $10 chocolate shake?
$10 fries
And hot apple pies?
Who remembers “deserving a break”?
NEW WAGE MOVEMENT
In the past a young worker aspired
To do what advancement required.
But, with the new rage
To raise minimum wage,
He’ll be lucky to even get hired.
In the past a young worker aspired
To do what advancement required.
But, with the new rage
To raise minimum wage,
He’ll be lucky to even get hired.
BARRYOMETER
“I get credit for any success —
All the plaudits and all the good press —
But find others to blame
And assume all the shame
When my policies make a big mess.”
OPT-OUT
To please Democrats pushing preemption
And Republicans craving redemption,
Let Obamacare
Be utterly fair
And grant everyone an exemption.
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More info on IRS crimes
Posted by taxguru on October 10, 2013
While IRS may be on vacation, more details of their illegal attacks on opponents of the BHO Regime, as well as the direct White House involvement, are emerging. Don’t hold your breath waiting for the MSM to report any of this.
This clip from the congressional hearing is very illustrative of how the DemonRats are trying to sabotage and make a mockery of any attempt to hold the IRS employees accountable for their crimes. It would obviously be a very different story if the White House occupant were Republican.
IRS, White House officials that shared confidential taxpayer info had 155 White House meetings – Not Lois Lerner this time. The other IRS “Master Criminal,” Sarah Hall Ingram.
Issa Committee uncovers IRS providing confidential taxpayer information to White House
IRS Officials Sent Private Data Over Personal Email Accounts
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Tax Guru - Ker$tetter Letter 