“The Buffett thing is just theatrics. If Warren Buffett made his money from ordinary income rather than capital gains, his tax rate would be a lot higher than his secretary’s,” he said. “I think it’s not fair to say that wealthy people don’t pay their fair share. They pay a much higher percentage of their income, they have a higher rate than people who make less,” Bloomberg added. [CBS/AP]
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Amsterdam’s Hookers Are Pretty Much Okay with Finally Having to Pay Taxes
Which doesn’t come as much of a surprise since the Dutch aren’t the rabid purtian, anti-tax type that exist in some countries.
“It’s a good thing that they’re doing this,” said Samantha, a statuesque blond Dutchwoman in a white leather dress who offers her services from behind one of the hundreds of red-curtained windows in the heart of the city’s ancient center. “It’s a job like any other and we should pay taxes,” she said.
Plus! Since these audits will be as boring as expected, there may be an opportunity to drum up a little business:
Prostitutes were told they would be audited in typically bureaucratic fashion, with a notice addressed “to landlords and window prostitutes in Amsterdam” published last week in the city’s main newspaper. “Agents of the Tax Service will walk through various elements of your business administration with you, such as prices, staffing, agendas and calendars,” the notice said. “The facts will be used at a later date in reviewing your returns.”
Or as a short, stocky, bald man once said, “I want details and I want them right now!”
GC Weekend: Take a Break, We Insist
Here it is, Sunday evening so we thought we’d check on all you weekend warriors. Now that the day is over, you can relax and do whatever it is you do on Sunday evenings. Personally, we’d recommend watching some lady slaying courtesy of Don Draper but if reading up on more healthcare policy debate is your thing, knock yourselves out.
Even though lots of you are probably too exhausted to keep your eyes open to read this, we’ll kindly remind you that there’s only two more days to go. Yes, we realize you 1040 prep experts still have a month to go and we’ll give your recognition in due course.
As for the rest of you, give yourselves a pat on the back and have a drink, do a jay, whatever gets you in the mood for love or simply vegging out in front of the tube because you’ve earned it. You’re going to make it through another tax season despite all those times you considered quitting in the middle of it.
And if this is your first tax season, special congrats to you. You’re well on your way to becoming a glutton for punishment courtesy of tax deadlines for many years to come. Cheers.
This Tax Reform Stuff Can Wait
[I]f we are going to make real progress, we can’t fixate on every overhyped, half-baked tax slogan that comes along. Sooner or later we must get back to basics. Here’s the main question: Should taxes be cut, raised, or reformed without changing overall revenue? The answer is that taxes should be cut in the short term, raised after we are clearly out of our cyclical downturn, and then reformed only after we have settled on the magnitude of tax increases needed for deficit reduction. [Martin Sullivan]