Tax Guru – Ker$tetter Letter

Enron Tax Tricks

Maybe it’s because I have long made a good living helping people win the tax game; but I can’t share the disgust over the fact that Enron had a large staff with the sole purpose of structuring things to minimize taxes. My disgust is with the rulers in DC who force companies to devote so much manpower to such tasks with their idiotic and outright punitive tax laws and regulations. I can still remember many of my college classes, where we were taught that the main function of a corporation’s management is to maximize the return (aka profit) for the shareholders. Minimizing taxes is just as important in that equation as reducing other overhead costs, such as labor and rents.

KMK

Economists For Sale

It’s long been common knowledge that opinions of economists can be purchased in exactly the same way as murder defendants buy the “expert testimony” of psychologists. The fact that a bunch of left wing economists don’t want people to be able to keep any of their own money is nothing new and no big deal.

KMK

Libertarians have more fun–and make more sense

Let It Snow

The new Treasury Secretary seems to be on the right track in support of lower taxes.

In his own words

Larry Kudlow’s take

Davis recall is gaining traction

Wishful thinking. The GOP in the PRC ran such an incompetent campaign for governor last year, what makes them think they can do any better in a recall election against Gray-Out Doofus?

Out of Control Spending

While I believe it is completely unfair to blame the Federal deficit on the Bush tax cuts, it is perfectly justified to hold him responsible for not putting the brakes on Congress’ wild out of control spending. That is one of my few complaints about Ronald Reagan. His tax rate cuts produced record levels of tax revenues; but he didn’t use his veto power to stop Congress from spending like the classic drunken sailors. I’m not sure Bush is going to be any more effective than Reagan was.

I’m not alone in this opinion. It’s shared by:

Bill O’Reilly

Veronica de Rugy

Audits of wealthy could increase

Another reason to smooth out income between the 1040s and 1120s by using at least one C corporation.

Those in the boomer and later generations who don’t take steps to provide for their own retirement assets, including not paying in as much to the SSA, will have nobody to blame but themselves.

Tax Cut Quiz