Exam-Time Housekeeping

Well, in case you haven’t noticed the slower pace–at least from me–here at America’s Right, it’s that time of year again. That’s right … exams. At the tail end of every semester, in late November and early December and again in late April and early May, I find myself struggling to make up lost ground in time to be tested on everything I’ve learned, and everything I’ve avoided for the sake of this Web site and other repositories of procrastination.

And, as usual, I’ve taken over the dining room table, far away from the desktop computer and in a spot able to be separated from laptops so as to devote undivided attention to such wonderful topics this semester as Worker’s Compensation, Corporate Finance and Federal Income Taxation.

What you see on the table now is the latter. The big book on the left is the Selected Federal Taxation Statutes and Regulations for 2010. That’s right — these are only the selected provisions in the Tax Code and such, and at 1903 pages long it’s still shorter than the Democrats’ average piece of nation-tanking legislation. Over the Christmas holiday, after I’m through with this class, I think I may read Neal Boortz’s FairTax book. If my head doesn’t explode by then.

On the table, you’ll also see a fantastic coffee mug. Full, at 1:00 a.m. The mug was a 30th birthday gift last October–in advance of the presidential election–from Katherine (a left-leaning, bleeding heart occasional commenter here) and her husband. I’ve known Katherine for a dozen years now, and I’ve known her husband for twice that long, since we were waiting at the bus stop for the first day of the second grade. They might be liberals, but they sent me a mug showing an electoral map which, when hot coffee is poured in, turns all of the blue states from 2004 to red states for 2008. It says “Make My Day 2008″ on it — but, the way things are going, I think it will more accurately represent 2012.

Nevertheless, please accept my apology for any inactivity here. In a change from last year at this time, we actually have a number of other contributors, and I’ve asked Robert Wallace to take a bigger role here at America’s Right. I’ve grown very fond of Robert’s work, and the more I learn about him personally, the more I grow fond of Robert himself. You’re going to see great things here in coming weeks and months, and it will be a direct result of his influence.

Like me, however, Robert is a part-timer at this. There’s only so much we can do and, unfortunately, this administration and Congress doesn’t seem as though they’ll stop giving us material. Still, we’ll do what we can, and I thank you for turning to America’s Right for political insight and commentary from average Americans like yourselves, and hope that you continue to do so.

Now, if you’ll excuse me, I need to shut down this laptop and hide it upstairs next to my sleeping wife. That way, I’ll focus more on the tax implications of the accrual method of accounting, and less on things like Attorney General Eric Holder’s reprehensible–but hardly unexpected–decisions as to ACORN, and whether Tiger Woods’ wife used a three-iron or a pitching wedge to beat the snot out of him in advance of his badly shanked weekend drive.

Share

Comments

  1. Robert Wallace says:

    I stumbled across an alternative tax system yesterday which I could have sworn was called "the efficient tax". I just skimmed it and didn't quite get the gist of it. It had something to do with a 10% tax on wage income (flat) and a 30% tax on property-based income (rent, capital gains, etc). It sounds sort of populist (sock it to those fat-cats who get money just from having money!) but was apparently designed by a famous economist who used to support the FairTax as a way to make taxes more efficient.

    In any case, I've been unable to find it this morning but I did stumble across this novel claim from the National Bureau of Economic Research: "More Efficient Tax Systems Lead to Bigger Government". http://www.nber.org/digest/feb99/w6789.html

    Apparently people tend to reject less to hikes in flat-rate taxes and so they have a tendency to rise higher over time.

  2. JEFF SCHREIBER says:

    Nice. I wanna check into it.

    Anything is better than what we've got. A two-tier flat tax would be fine, too.

    Right now, though, when you've got sections like IRC Section 462(B)(3)(f)(7)(ii)(A)(III), it's time to scrap it and start over.

  3. La Muse Poetique says:

    Oh geez. Workers' Comp. I hope your head doesn't explode.

  4. Anonymous says:

    So glad that you mentioned your expertise in the accrual vs cash basis issue. How convenient, because I have in front of me the 3115's waiting for my signature, now if I make this change from cash to accrual, what ———————————————————–?

    Just kidding (but not about the 3115 submittal. Just wish I could get the same answer from two CPA's before I pull the trigger.)

    Best of luck with your exams and get your shingle hung out as soon as possible. My attorney costs too much – $375/hr – and my CPA isn't inspiring my confidence. Robert is doing a great job of keeping the banner flying.

    Randy

  5. Claudia says:

    Much luck Jeff, you have earned that much and more in good hopes and wished from us…. DO lots of studying and get really great grades. Ace 'em, Man….

  6. Robert Wallace says:

    LOL. I've never heard "hiking on the Appalachian Trail" used that way, but I definitely will use it myself from now on.

  7. trailbee says:

    I went back to school as a retired re-entry student, and continued for 12 years. Got the degree yes, stayed for several more years because I was addicted to school. What a blast! But, being on the aged side, all I can say is: "Being 30 years younger, count your lucky stars that you have more brain cells than I did for those 'special' trying times." Trying and tough times, yes, but irreplaceable in your soul. So, do what you have to do, whip those cells into shape, and best of luck; but, thanks a million for this site and the efforts you have expended for us. Biene Vallee

  8. Gail B says:

    Thank you, Jeff, for keeping your grades up. And, thanks, contributors for taking some of the load off Jeff's shoulders.

    Question: Wonder if Tiger Woods went hiking on the Appalachian Trail that caused such an uproar from his wife?!

  9. Gail B says:

    ROFLMAO!

    Robert, it wasn't original–SC Gov. Mark Sanford…first! I understand he has quite the imagination!

    Yeah, I've heard it called a lot of things, but never "hiking on the Appalachian Trail."

  10. William A. Rose says:

    Gail, you an Robert are funny. That's definitely a newly coined phrase. I can't wait to hear it in the media somewhere. Neal Boortz would love it.

    Jeff, I read "The Fair Tax Act". Read the bill too (HR 2524 if memory serves). It'll never ever see the light of day, but I believe it would solve many problems. As far as our money goes, we will never be free of constantly rising tax rates as long as the elected congressmen continue to think all that is ours is theirs.

  11. Still a Patriot says:

    Hi Jeff -

    No apologies are necessary! I hope you take the time to rest as you prepare for exams. This site is in good hands!

    Yes – read the Fair Tax book! Mike Huckabee brought alot of attention to the Fair Tax during his campaign, & public support is growing, as well as in Congress. There is a website for the Fair Tax also, which is linked at mikehuckabee.com.

    Susan

Speak Your Mind

*