Category: IRS

Thoughts on Tim Geithner

There’s something just a little, how do I put it, smarmy about our soon-to-be new Secretary of the Treasury.  Here he is, applying for the job that oversees the IRS, and somehow a few years back he came up about $30,000 short on various taxes.

Where I grew up, we called that a double-standard.  President Obama has suggested he will not tolerate ethical lapses, and yet, we’re now allowing someone with a less-than-stellar record with regard to paying taxes to be the country’s banker.  If this were a Republican, the mainstream media would be howling and screaming.  The best word to describe it is…hypocrisy.  I guarantee you that if it were me, there would be no mercy.

Memo to Tim:  What were you thinking?  Who …

Swamp Stomper Alert: Housing Bill Heads to White House

Well, it took almost 3 months, but Congress finally passed the bill today, on older version of which was  passed by the House in May, after some considerable back and forth between the Senate and the House.  The bill is HR 3221 (pdf), titled: “Housing and Economic Recovery Act of 2008”.

The entire bill is over 600 pages long.  The table of contents is 7 pages.  And technically, this is a bill that began its life over a year ago.  Sponsored by none other than Nancy Pelosi.  And apparently Bush is planning to sign.

He should not.

Touted by most of the media is the section that provides up to a $7,500 tax credit is 1,800 words.  And the  media manage to mention it …

Congress Should Not Micro-Manage The Economy

Not so much because tinkering with the economy on a regular basis is messy as much as having Congress doing the tinkering is just dangerous. Remembering that the Prime Directive of nearly every member of Congress is “Do nothing that interfere with my re-election”, and the corollary is “Take care of my deep pocket special interests”, it is exceptionally difficult to trust anything that Congress does, especially when it is wrapped up in the “we’re here to help” blanket.

So today (Thursday), the House passed a bill to spend yet another $300 billion that we don’t have in order to firmly entrench the new entitlement: home ownership.

We won’t spend any time bemoaning the end of apartment dwelling as we know it. Nor the fact …

Finished, and Convinced: The FairTax Makes Sense

You may recall a few months ago I mentioned I had started reading The FairTax Book. It only took about 5 or 6 hours of reading time, but it kept bouncing around in priority, and I just finished a couple of days ago.

It is really tough to explain the whole idea in a few short sentences (making the book a great resource if you want to be able to speak intelligently to the subject). I was cynical of the idea before reading the book, and now I’m convinced it is the right way to both solve our current tax issues and help stimulate our sadly sagging economy.

Forgive me if I make this sound too simple, and I know it really isn’t, but what …

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