Tax Guru-Ker$tetter Letter
Wednesday, July 17, 2002
Counting Chickens Too Soon
David Broder confirms my explanation of how the Federal budget estimates were based on bogus assumptions of capital gains taxes.
Such figures are impossible to predict with any accuracy, which is why any official forward looking figures from DC should be ignored. They are completely fictitious. This is why I have always been a supporter of using dynamic analysis to predict the effects of proposed changes in tax laws. The static analysis that our rulers do use makes the idiotic assumption that changes in the tax laws have no effect whatsoever on the behavior of us working slaves. Nothing could be further from the truth.