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Tag Archives: tax

Fun on Friday: It’s Just the Price We Pay…

So, last Monday was tax day.Ouch!I don’t know about you, but I had to write a big check. But I took solace in the fact that I’m helping create a more civilized society!That’s the mantra, right? Taxes are the price we pay for a civilized society. That sounds like something a tax collector would come up with.And you know what? I question it.Anyway, the government pushed the date back from April 15 this year due to the reasons. So, we got a little reprieve last month. But as they say,...

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Arkansas Repeals Sales Tax on Gold and Silver Bullion

Arkansas Gov. Asa Hutchinson recently signed a bill into law exempting gold and silver bullion and coins from sales tax. This will not only relieve some of the tax burdens on investors in the state; it will also take a step toward treating gold and silver as money instead of as commodities.Sen. Mark Johnson (R) introduced Senate Bill 336 (SB336) on Feb. 22. The new law exempts coins, currency and bullion from the state sales and use tax. The tax repeal covers bars, ingots, and coins made...

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Fun on Friday: What Have You Done for Me Mr. Taxman?

I have to confess, I’m not really feeling particularly fun this Friday. This past week was tax week.And taxes aren’t fun.A lot of you might not even realize that tax day was July 15. The government pushed the date back from April 15 due to the coronavirus pandemic. So, we got a little reprieve in the spring. But as they say, nothing is certain but death and taxes. The grim reaper and the taxman always cometh eventually.But if you got a refund, you probably went ahead and filed so you could...

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Fun on Friday: Dumb Politician Edition

When I was a kid, I thought people in elected offices were among the brightest and best. Then I grew up, started interacting with politicians and realized they are no smarter than anybody else. And in fact,  a lot of them are downright dumb.Well, I’ve got an Oklahoma lawmaker for you that fits neatly into the downright dumb category.Oklahoma state Rep. Merleyn Bell, a Democrat from Norman, wants to penalize people who use a successful private sector DUI prevention program to fund an...

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Ron Paul Blasts Congress’ Political And Personal Immorality

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity, Many Americans have been shocked by recent revelations of the extent of sexual harassment in Congress. However, no one should be too surprised that those who spend their lives defending and expanding the welfare-warfare state engage in immoral personal conduct. It is only natural that an immoral system, like the welfare-warfare state, tends to attract individuals likely to practice personal immorality. The...

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How Wealthy Americans Are Already Trying To Game Trump’s Tax Bill

Earlier this month, Trump touted the idea that, under his tax plan, 1,000's of Americans would be able to "file their taxes on a single, little beautiful sheet of paper."  Of course, this so-called "postcard" that Trump and Paul Ryan have referenced repeatedly over the past several months is basically nothing more than a 1040EZ shrunken down to fit on a smaller piece of paper but who are we to rain on their parade? That said, while many Americans will enjoy an easier tax filing in 2018, or...

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Who Feels the Tax Sting

Now that the massive new tax bill has passed, I thought I'd do a little experiment with a spreadsheet to see how a hypothetical Silicon Valley, California earner might be affected. I was sure his tax bill would be higher, but I am surprised at how much higher.I wouldn't be surprised if some people decided not to stay in their homes since their tax bite is so substantial. I will preface this by saying I'm not a tax expert, but I've got a pretty good understanding of taxes, and I put together a...

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Here Are The Biggest Winners And Losers From Trump’s Corporate Tax Cuts

Credit Suisse Chief US Equity Strategist, Jonathan Golub, has estimated that corporate tax cuts in the U.S. could boost average earnings of companies in the S&P by about 8-10%.  Now, as those tax cuts get priced into the market for the 10th time today, we decided to take a look at which industries will benefit the most and how they will spend their extra cash flow. Of course, as Jamie Dimon noted last week (see: Jamie Dimon Says Corporations Will Fund Buybacks With Tax Cuts And That's...

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“All-In” On Tax Reform

Authored by Lance Roberts via RealInvestmentAdvice.com, Review & Update In last week’s “Technically Speaking” post I discussed the S&P 500 hitting 2700 by Christmas. To wit: “As stated in the title, the current push higher puts 2700 in sight by the time Santa fills the ‘stockings hung by the chimney with care.’ As shown below, price momentum triggered a short-term “buy” signal following Thanksgiving, and after the brief ‘AMT Tax Debacle’ in the Senate Tax Bill, momentum again has...

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California Moves One Step Closer To “Mileage Tax”; Could Require Tracking Your Cell Phone Movements

Just a few months after implementing a massive 60% hike in gasoline taxes, raising them from $0.297 per gallon to $0.417, the state of California is now one step closer to implementing a brand new tax that would charge drivers for each mile driven.  As a quick example of how shockingly misguided such a piece of legislation would be, the logical conclusion here is that poor people who have been forced out of cities like San Francisco, Los Angeles and San Diego due to rising rents would now be...

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