daivd, I have a modest material life. But, I do have a very expensive house. Interest on house is great tax deduction. Well, the distrcit
in Austin had my house way over valued. I put it up for sell without really knowing what I was doing. I thought God wanted me to move.
And, maybe by a cheaper home. I would do that and I thought HE wanted that. I could live in a home 1/2 this value.
Well it wouldn't sell for this crazy appraised value or even lower than that. My tax guy says keep the records where I tried to sell and at what price
and their suggested value can be lowered next yr.
Ausitn is some of the highest gov't cost in the US. So how the school dist. can even levy a 1.66 per 1000 tax when the state law has a limit of 1.52 or 1.55 in an unknown to me. legal loop hole they found.
But, with my contributions and interest plus I a compnay that I do all my trading under which allow deducts of misc I do alright.
Taxas really don't bother me that much, but I think we are going to get some relief from gov't . right now the 10% increase in the
entitlement budget every yr is what is killing us. We need to slow soc. ser. and medicare to 6% growth. That will drop the deficit like crazy if they drop taxes too. We learned that in supply side econ. grew tax revenues exponentially.
that's what it was suppose to do. but Congress spent 1.21 for every 1.00 that comes in. so, more revenue just made our deficit go higher.
Oh, well Jesus gives it to me even if He has to send a fish.
But, I say we need to limit the terms of our representives in gov't .
They should only be allowed to rip us off for a limited time.<g>
I pay all taxes due and tax acct. cpa that was ex-IRS agent does my txes.
God Bless |
