Tax Guru-Ker$tetter Letter
Wednesday, September 08, 2004
Creative Accounting Only Goes So Far. Unsound transactions are going to catch up with the government - As I've always said, none of the goofy accounting done by Enron and the other big corporations can hold a candle to the absolutely insane accounting done by our rulers in government. While much of the creative accounting done by corporations falls within the wide range of what is called Generally Accepted Accounting Principles (GAAP), the ways our rulers keep books pretty much defy all financial logic.
Sunsetting Tax Cuts Would Shrink Deficit, CBO Finds - Many in government are literally licking their lips waiting for the tax cuts to drop off because of the stupid way our rulers set them up as temporary. As a reminder of what those coming tax hikes are, here is the summary I posted several months ago. I think it's obvious that if Lurch were to in some way steal the election in November, there would be no way he would sign any legislation extending the lower rates or making them permanent, as President Bush wants to do.