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To: Cogito Ergo Sum who wrote (6147)1/3/2007 3:58:14 PM
From: WalterWhite  Read Replies (2) | Respond to of 30384
 
OT - Bad day for longs (especially those long only recently!) but i have to comment on taxation.

Red was right about the "correct" thing done re trusts, but Flaherty took a negative and made a PR nightmare out of it, and didn't use the opportunity to fix the tax code.

The end goal should be to simplify the tax code, reduce the tax burden, and eliminate waste (government bureaucracy). This can be done by eliminating corporate and personal taxes, and moving to a system of user fees and value added tax.

It's crazy that we need to file returns. It's crazy that the companies we own pay us dividends that are reduced by taxes, and then we are asked to pay more taxes on these.

I do not want flow-through shares, royalty rebates and the like because that would mean a government "tool" made a business decision to distort the market (it is done now to make up for the disfunctional tax code and outrageous taxes levied).

I want the hundreds of thousands of bright accountants and tax lawyers doing something productive with their minds and actually raise our national standard of living!

It is sad that we need to spend a second thinking about taxes and how they will impact returns on different investments, or whether we are "missing" out on tax saving of deferral "tricks".

Does anyone have a good tax lawyer they can recommend? lol
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