Tax Guru-Ker$tetter Letter
Sunday, January 04, 2004
Find a steadier tax stream - As I've long said, and which has been proven by recent history, basing all government financial projections on an increasing supply of income taxes is foolishness of the worst kind. It is the direct cause of the Sacramento fiscal disaster. They set in place huge new spending programs based on the assumption that income taxes would provide an increasingly steady stream of cash. It is also what happened to the imaginary Clinton budget surpluses. Those were based on the assumption of steady double digit annual increases in the stock market forever and ever. To blame Bush for those predictions not coming true, as the DemonRats have been doing, is just one more example of their utter lack of credibility of any kind.
Bush's Budget for 2005 Seeks to Rein In Domestic Costs - Tax cuts and reduced spending are the proper formula. However, it is an election year, so all promises need to be taken with a grain of salt.
IRS Employees Targeted in Tax Review
10 Resolutions to Build a Fiscally Fit California
Arnold ought to question everything the state does - The mess in Sacramento requires much more than a trim here and there. It needs major severe surgery.
The out of control spending problems in the PRC do run extremely deep.