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Never Let Facts Get in The Way of a Good Story

Does George Costanza work at ProPublica?  They sure do have a peculiar way of viewing the truth. https://www.youtube.com/watch?v=vn_PSJsl0LQ   This article makes the case that the “wealthy” “dodge” taxes by “skirting” law.  (Interesting use of coded language – thanks ProPublica!) Do the "wealthy" take advantage of tax loss harvesting?  Absolutely. Know who else does?  [...]

Where The Feds Can(‘t) Spend Money – 1965 v 2021

A deep dive into the OMB’s Historical Tables shows some interesting changes in federal mandatory v. discretionary spending when comparing 1965 to today: Mandatory spending has more than doubled.  Social Security and Medicare are the drivers. Defense spending has been reduced by about 75%.  The Bush/Thatcher peace dividend? Discretionary spending currently stands at a paltry [...]

Buying Votes with Taxpayer Money

In an August 27th letter to Speaker of the House Nancy Pelosi and Vice President Kamala Harris (in her capacity as President of the Senate) President Joe Biden announced that he was invoking his legal authority under “national emergency or serious economic conditions affecting the general welfare” to increase salaries for roughly two million members [...]

Biden’s Free Means Soaking Taxpayers and Burning Cash

Last night the Spender in Chief a.k.a. Healer Joe (we are healed now, right?) laid out in broad strokes an agenda to spend $1.8 trillion on what he’s calling the American Families Plan.  He wrapped it in terms that sound soothing – “making care affordable, free education, universal pre-school” and “investing in the care workforce.” [...]

IRS Permits Flex Spending Accounts Carryover

Flexible Spending Accounts (“FSAs”) are a popular means for employees to pay for medical/dependent care expenses using pre-tax funds. Funds that are unused in a given plan year are generally forfeited.  Thanks to recent guidance from the IRS that’s about to change – at least temporarily. Notice 2021-15 details the relief offered under December 2020’s [...]

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