Taxable Talk

From Russ Fox, E.A., of Clayton Financial and Tax of Irvine, CA
All items below are for information only and are not meant as tax advice.
Please consult your own tax advisor to see how each item impacts your own situation.
Be Afraid. Be Very Afraid.
With the Democrats now in control in Congress, it's time to watch our wallets. My district in Congress happens to be represented by one of the few accountants in Congress, John Campbell. Congressman Campbell is a CPA, and he's not impressed at all with the Democrats idea of budgeting.

Congressman Campbell maintains his "Green Eye Shade Blog." Last week he wrote about the proposed budget, and called it, "...a sham to the American taxpayer." He believes it is a return to the "tax and spend days of old."

Did anyone really believe that with a Congress controlled by Democrats we would be looking at lowered spending and/or a decrease in taxes?
Another $0.02 For Your Thoughts
If you use the postal service, it will cost you $0.41 for first class mail beginning on May 14th. The good news? You will be able to buy a "forever" stamp. The new "forever" stamp will be able to used for first class postage...forever.

The "forever" stamp will not be available in rolls (to discourage businesses from using it), nor will postage meters be able to use it. But you will be able to buy books and sheets of the stamp.

Being the cynic that I am, let's move forward to June 2009, when the Postal Service governors raise the postage rate to $0.43, effective on August 1, 2009. Do you think there will be a sudden shortage of "forever" stamps at that time?

News Story: USA Today