Tax Day Ramblings

It’s Tax Day, so what better day to do some tax related ramblings.

First of all, there is nothing out there to beat the Fair Tax Initiative. Check it out. This is a system where you take home all of your paycheck. No taxes taken out. You pay taxes on the items you purchase, but the prices don’t go up, because the tax rate is about the same as the embedded tax rate now. Plus, you get a rebate on essential items you purchase, based on family size. No taxes taken out of your check, prices stay the same, and you get a rebate check every month. How can this be possible? You can also read about it on Neal Boortz’s site. He co-authored the book on the Fair Tax. You’ll hear a lot of misinformation and lies about the Fair Tax, so don’t trust them, and don’t trust me. Read it and decide for yourself.

One of the dumbest commercials around today (and maybe of all time) shows a contractor complaining that the IRS might take away his business because of the $200,000 he owes in back taxes. For advice, he goes to his accountant, who recommends one of those services that help you settle tax debts. Now let me ask you, if you buy a car and it turns out to be a lemon, is the first person you ask for advice on how to solve the problem going to be the car dealer who sold you the car originally? If you get in legal trouble, do you ask the lawyer who got you into the trouble for his advice on how to best get out of trouble? Then, why in the name of all that is holy, would you ask advice from an accountant who got you into a $200,000 debt with the IRS? The only communication I would have with the loser would be the letter of termination I would send, unless I felt I had a good case for fraud or negligence.