What’s All This Then!

According to the news, a lot of people are excited about what the government is going to give them through its stimulus package. What the news media deceptively hides and what many people forget is that the government can’t give you what is already yours. All you can expect is that our bureaucratic friends will take a tiny bit less of our hard-earned money than they are now. Isn’t that exciting?!!! If the true be told, you are more likely to find an actual stimulus package on a male porn star than on the pages of any congressional legislation … although both are used for the same purpose … whether you’re willing or not.

Popularity: unranked [?]

On Friday, I listened as Michele Norris of NPR interviewed you, Mr. Obama. As you spoke of your noble plan to tax more money from those greedy oil companies, I couldn’t help but to be moved by your eloquent words. Actually, my car moved me. I was just enthralled by your ideas as I traveled along the road. I drive over a 100 miles a day to and from work. Naturally, I would love cheaper gas (and not just the kind you get from fast food). So, go get ‘em, Mr. Obama … I think … well, that was my mistake — to think about your ideas.

Your interview left the impression that oil companies aren’t taxed at all. Yet, I know that our thrifty governments already take almost 50% of the oil companies’ earnings. So record profits mean record revenues for you and your congressional cohorts, don’t they? Yet, the way you talked made me wonder if you guys have already squandered this year’s oil tax windfall. I realize that you made the list as one of the top pork spenders in Congress. But this isn’t one of those types of lists to be proud of or to remain on.

Let’s look at this little audacity of hope, shall we? According to the Tax Foundation, Exxon earned over $20 billion in the first quarter of this year. Out of that, government took over $9 billion. Then there is all the additional sales taxes, excise taxes, severance taxes, and property taxes that Exxon had to collect from motorists on behalf of our lawgivers — which worked out to $20 billion more in tax revenue. All-in-all, for $1 in after-tax oil profit, you politicians took almost $3. WOW!! And yet, Mr. Obama, you want to take more? Who’s being greedy? Kind of like the pot calling the kettle black. Or in this case, the candidate calling the oil … well, you know.

Have you forgotten that those evil oil companies take some of what’s left of their profits and pay investors — in other words, my lowly 401(k). Given Congresses’ wonderful management of the Social Security system, I’m going to need every penny of that 401(k) when (and if) I retire.

So, Sir, I’m not sure of your noble desires to relieve those ill gotten record profits from Exxon and the like. And when you put those billions of dollars into more bureaucratic programs, I’m not sure that the pennies that somehow trickle down will really benefit us poor folk of America.

Hmmmm, here’s a thought: do you think you and Mr. McCain can first put a stop to the wasteful spending that you boys and girls are doing in Congress before trying taxing the rest of us into poverty?

Popularity: 2% [?]

Almost $12,000! At least that’s my estimate right now. I don’t know how I missed this, but yet it happened. My CPA was supposed to be taking care of this. But this time last year, I was finishing up a five-year divorce battle and a major down and dirty with the IRS. Somehow this detail got lost in the avalanche of events of this past year. That is until today.

To get my freedom from the wicked witch of the West, I had to over-pay the IRS. My CPA assured me that he would be able to get the money back and pay my 2005 tax bill. Here I am a year later. My CPA forgot or lost track or is incompetent — in any case, I never got my money back. The tax bill is waiting.

So in February I went to the bosses of the IRS — Congress. I wrote to my peeps: Richard Burr, Bob Etheridge, and Elizabeth Dole. Apparently, I matter to Ms. Dole only during election time because I haven’t heard a single word from her. On the other hand, Mr. Burr and Mr. Etheridge immediately answered my correspondence.

Today I received an interesting package from Senator Burr. It contained my tax account transcripts and a letter from the IRS to Senator Burr. The letter basically said they were sorry that they overcharged me but that they were within their rights to keep all the monies. So I spent the day going through the transcripts. Not only did I find where they did not credit a couple of my payments to them, but I also discovered that they mistakenly keyed in my 2001 return. I had brought this matter up to my CPA two years ago. He said that he would take care of it and I trust him to do so. If he did so, no one in the IRS took care of it. That in itself is a $12,000 error in my favor. I’ve also learned in this fight with the IRS that, not only can they charge you interest, but they also have to pay you interest on money they don’t refund in a timely manner. If they follow their own procedure, I will be a very happy man. Of course, if they had followed their own procedures to begin with, I would not have begun a battle with them 10 years ago. Oh well, you know the creed of tax collection agencies everywhere: “if we can bring one little smile to one little face today — then somebody slipped up somewhere.”

If you’ve ever wondered what happened to the bullies that terrorized you in school, rest assured. They’ve gone on to professional status. Some work for criminal organizations. And the rest try to legitimize their actions by working for government tax collection agencies. Thank goodness we live in a free society….

Popularity: 35% [?]