Tuesday, September 23, 2014

Tax Breaks

Academic Fraud and the Ponzi Scheme of “Higher Learning”Counterpunch. Jamie Galbraith anticipated some important related developments in his book The Predator State. While college (at least once upon a time) produced graduates with general skills, advanced degrees produce graduates with much more highly specialized skills. Their employment options are narrower and their economic fall is generally further if they can’t find work that uses those skills (which has been happening to law school grads). Yet as the credentialing of college became more common, more people saw getting a graduate degree as a way to further differentiate themselves. From a societal standpoint, even before you factor in the ridiculous escalation of education costs, producing this many highly specialized graduates is a questionable investment.

House GOP Bill Combines Worst Tax Break Ideas of 2014 for Half-a-Trillion Dollar Giveaway. (Tax Justice Blog). When they know that the Senate will ignore whatever they do, it’s easy to accommodate anyone lobbying for a tax break...

Mad Scientist Gets Prison Time for Using His Dog and Cat in a Tax Avoidance Scheme (Going Concern). Creative PETA .,.

Congress Cries Wolf Over Internet Access Taxes (TaxVox). “Unable to do anything important before its election season recess, Congress is about to knock down a favorite digital straw man—It will extend for a few months the about-to-expire federal ban on state taxation of Internet access.”

60 Minutes: The Tax Refund Scam

(Click here to view video directly on CBS to avoid interruption caused by blog's refresh rate.)

Flach has fresh link on  Buzz, including links on the cost of tax compliance and “7 deadly tax sins.”

A Hail Mary or Two on the Hill.  The TaxVox tax headline roundup covers inflation adjustments and beating up on the NFL with the tax code, among other things.

Will Software Really Replace Accountants?  I suppose it’s possible, but not with a tax system anything like we have.