“U.S. GAAP is founded upon principles, that’s what the P is supposed to stand for.” – SEC Chief Accountant James Kroeker arguing at a Pace University IFRS discussion that GAAP is just as principles-based as IFRS.
Related Posts
Pandering to the Teetotalers with Sin Taxes | 04.19.10
- Caleb Newquist
- April 20, 2010
“The honest way to raise more revenue would be to raise income tax rates. But it is more politically attractive to tax these kinds of things. No one can get mad at you for taxing people who drink too much.”
~ Peter L. Faber, tax attorney, on sin taxes.
Tax Policy Rhetoric Déjà Vu
- Caleb Newquist
- September 9, 2010
“Watching this speech, I’ve determined that Obama will win the 2008 election.”
~ Philip Klein has heard this before, although John Boehner subs for George W. Bush.
Quote of the Day: He’s Also Good at Stalking | 02.03.10
- Caleb Newquist
- February 4, 2010
“I suspect he takes much more pleasure in baiting opponents than he does in running a company. The evidence he is good at baiting is much clearer than the evidence he is good at managing.”
~ Floyd Norris, New York Times Columnist on the Farmville obsessed, Segway Cowboy Patrick Byrne.