A Few Words about Taxes and the IRS

Forbidden Fruit. Apple has been getting grilled for following the law in a manner that reduces their taxes. Frankly, most of us choose to do legal things to minimize our tax liability. Give a charitable donation? Buy a house with a mortgage? You could be guilty of following the law! I’m with the CEO of Google and Bill Gates on this one: Don’t like it? Change the law!

The Scandal That Wasn’t: So thanks to Karoli of Crooks and Liars for actually digging up some facts to go with our conspiracy theory witch hunt on the IRS allegedly investigating too many conservative groups. When roughly 80% of applicants are conservative groups, you should be shocked if roughly 80% of those investigated aren’t conservative groups! But hey, let’s not let reality get in the way of a good rant.

That’s it for now.

In Closing: a small example of manmade climate change; cats at sea; so that’s why; supply and demand; an interesting man; inequality; duh; they deserve better; dumb idea; about time; even handed reporting on immigration reform; family leavecrack babies; and I hardly consider it “freak” when something crashes into it.

Someone Noticed the Man Behind the Curtain?

Today the Dow Jones Industrial Average was down over 500 points. Now make no mistake, I don’t like to read too much into the Dow. After all, it’s only 30 stocks, tweaked so the most expensive ones matter the most. However, the S&P 500 also dropped almost 5% today.

The culprit? “Fears over the economy.” That’s the same economy that — at least outside corporate boardrooms — was crappy a week ago, a month ago, a year ago. But now? Someone is exposing the Wizard behind the curtain and it’s obvious that Bad Things are afoot in the Wonderful World of Oz.

What’s different now? Is it that the State of New York isn’t going to let Bank of America get off with a pennies on the dollar settlement? Is it that Congress has done such a bad job that their disapproval rating is at an all time high? Perhaps it’s that we now understand some of the lies surrounding the federal budget? Maybe somebody outside peace activists has realized that we really are running 2 and a half pointless wars (to say nothing of thinking we can still starve Cuba into capitalism)? Did some stock broker take a wrong turn into the wrong neighborhood and notice that trickle down doesn’t work? Could it be that somebody noticed that unemployment is up nearly everywhere, and there’s nothing in the budget deal or any other federal plan that would create jobs?

Of course, I am not alone in thinking we never actually got out of the Great Recession.

If you are looking for a silver lining, mortgage rates are down due to the economic data. Assuming you have a job, and good enough credit to qualify for a mortgage.

In Closing: Fannie and Freddie were just following everyone else off the cliff; if we seriously believe that some criminals can’t be rehabilitated, the answer is life in prison, not a scarlet letter (oh but then we would have to think for more than 10 seconds); it still wasn’t the drugs, but the scopes; Toyota, and Honda lose to Nissan, Kia, and VW; tax reform zombie; you have to be wealthy to eat healthy; and aww honey honey.