Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Tax Burden
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Thursday Dec 2 2010 The liberals in congress want to raise taxes on high earners. Yet IRS records clearly show this does not increase tax revenues. When Congress has raised tax rates, the number of high earners mysteriously disappear. President Obama has had this pointed out to him yet he rails on about fairness. Nothing is fair…
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Wednesday Nov 24 2010 Wesley Snipes is asking the court for bail while his case is on appeal. A Judge revoked the bail and put him in jail when the Court of Appeals agreed with a lower court, off to jail Wes. The Supreme Court typically does no hear tax cases and certainly not cases…
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Sunday Sept 19 2010 Read about the incredible reporting requirement for all business at the WSJ Link. A 1099, if you did not know, is a statement to the IRS that one has received income. Apparently this is the ultimate Big Brother intrusion into every transaction that business makes. The Obamacare Bill requires all to…
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Sunday Sept 12, 2010 One outcome of a business college degree, should be the ability to dissect the gibberish of someone like Austin Goolsbee, Chair of Economic Advisors, who was just on Chris Wallace Show. Austin does not appear to have been shaving as long as I have owned my current automobile but that aside,…
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Sunday August 8, 2010 There won't be empty subdivisions and Auction signs but there are already plenty of defaults on for profit school loans. It is basically the same recipe. The government guarantees the loan, the seller seeks marginal qualifiers and the result is a default. The school offers little in the way of academic…
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Friday July 23, 2010 John Kerry is docking his $7 M new yacht in Rhode Island rather than Massachusetts. MA still collects tax on such trinkets while rhode Island repealed its taxes. Kerry comments on taxes in this clip. You will recall that Kerry married the widow of heinz, heir to the ketchup fortune. This of…
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Friday July 23, 2010 Charlie Rangel is or was head of the Tax Writing Ways and Means Committee. In September the House Ethics committee will investigate whether he has broken rules. Speaker Pelosi promised the most ethical House ever, we shall see. It seems agreed that anyone else would be a paying a hefty fine, see…
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Friday July 16, 2010 Self Serving Bureaucracies The bill "is a 2,300-page legislative monster…that expands the scope and the powers of ineffective bureaucracies," said Sen. Richard Shelby (R., Ala.). "We failed completely to understand the complexity of what the impact of the national decline in housing prices would be in the financial system," said Ms.…
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Thursday July 15, 2010 Hong Kong has a true flat tax. Why don't we, clearly this is a boon to business in HK, interesting the Chinese 'Communists' have done nothing to change this. As Jim Rogers says, the Chicons are the world's best capitalists, Barney Frank, Charlie Rangel are you listening?
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Monday July 12, 2010 The exodus from high tax states continues. The one thing we did not hear discussed in the Lebron James story was the obvious reason to go to Miami. Mr. James is an NBA star who has played with a Cleveland team, he has bolted Ohio for Florida joining the Miami Heat…
Professor Elam 