Idaho Tax Commission Threatens Shut Down of Kids’ Pumpkin Stand To “Educate,” Not Be Total Jerks

Posted on by Caleb Newquist

No one at the Gem State’s tax commission wants to shut down a pumpkin stand operated by sibling 4 and 6 year-olds but this is not ‘Nam, THERE ARE RULES:

A representative of the tax commission stopped by the home of Dan and Kami Charais Friday and asked for the stand’s closure. The Charais’ 4- and 6-year-old children are operating the stand to raise money for school sports.

The tax commission representative who stopped by the home said she was not at liberty to talk about the incident when reached by phone this afternoon.

A representative for the tax commission in Coeur d’Alene when reached by phone today said it is not the state’s intention to shut anyone down but to educate them about state policy.

Tax commission threatens to shut down children’s pumpkin stand [Lewiston Tribune]

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To Keep People From Nodding Off, Stephen Schwarzman Reminded Everyone How Much He Hates Mark-to-Market Accounting

The Blackstone Group co-founder, chairman and CEO is in Seoul hobnobbing with various other titans of industry, finance and politics for the G-20 Business Summit and as you might expect, things can get a little drab.

Dark suits, heavy lunches, important people trying to one-up each other’s stories and so on and so forth can really get tiresome so in order to “keep people awake,” SS brought up a topic near and dear to his heart:

[I]n the United States, we eliminated mark-to-market accounting in 1937, and why did we do that? We completely bankrupted our system before, and for some reason, somebody who liked something called transparency decided to have mark-to-market accounting come back, around the turn of the last century. So it in no way surprises me that we had a catastrophic collapse as a result of implementing mark-to-market accounting.

Not exactly sure who “somebody” is but one guy has retired and another is on his way out, so this could be Schwarzman’s reminder to the outgoing MTM cheerleaders that he hasn’t changed his stance that the whole thing just sucks.