Tax Guru – Ker$tetter Letter

Some conservatives are unhappy with the president. Will they stay home in November? – Rather than sitting out the November 2004 election, Bush will get a stronger message of how disappointed people are in his support of bigger more expensive government if they vote for a candidate who believes in the limits on government as enumerated in the US Constitution, such as a Libertarian.

The GOP’s new drug benefit is a serious policy error.

Stop GOP ‘spending’ spree

My goal is good policy – Obviously, I strongly disagree with Mr. Bartlett’s characterization of the Libertarian Party as worthless.

U.S. Vehicle Sales Rev Higher in November – It’s funny that there’s no mention of the tax related motivators for people to buy new vehicles: Governor Arnold’s repeal of the tripled car tax in the PRC and the quadrupling of the Section 179 expensing allowance for heavy (over 6,000 pounds) vehicles.

Smart Tax Laws Would Put More Money in California’s Pocket – The L.A. Slimes hasn’t slowed down in its attacks on Arnold. This argument that people are better off with the higher property taxes on their vehicles, because they could deduct them on their income tax returns, is complete idiocy. This is the same widely held fallacy that tax deductions are equivalent to a full reimbursement. They want their readers to believe that taxpayers are better off paying $1,000 in higher property taxes so they can claim them on their Schedule A. The fact that the actual income tax savings would be only about $270, resulting in a net cost to the taxpayer of $730 is something the Slimes hopes people are too stupid to notice. In fact, anyone who thinks big tax deductions are a good thing can send me a check for a fully tax deductible $1,000 for tax advisory services and I will provide you with an IRS acceptable receipt. And for anyone who believes the L.A. Times that this is good deal, think of how much better your tax deductions would be if you were to send me a check for $10,000. You would save ten times as much in taxes. Be sure to get those checks in the mail before December 31 so that you can claim them on your 2003 tax returns. This offer is not limited to residents of the PRC. It makes just as much sense for anyone in the USA.