September 15, 2019

Stimulus

CPAs: Start Your Stimulus Engines

Apparently this video is from last year but whatevs. Since the new year is creeping up fast, it serves as a friendly reminder that all the tax jockeys out there carry some heavy responsibility, stimulating the economy year after year.


Okay, let’s forget about the refunds for two. What’s really worth noting is all the CPAs out there scarfing bagels and guzzling coffee from January until March/mid-April because their time is far to valuable to bother going to the grocery store to buy a piece of fruit. Then think about all the late night take-out. The profession is single-handedly keeping bagel shops, pizza joints and various Asian restaurants in business year after year.

Then Joe Kristan makes the following point:

Never mind that the refunds are a result of overwithholding, or anti-stimulus, the rest of the year. Actually, in a way, it underlines how all “stimulus” spending really works: it takes our money all year, and we’re supposed to feel stimulated when they give a little of it back.

So in reality, the only stimulus is CPAs giving a boost to various segments of the restaurant industry. It’s not ideal but it’s an annual boost they can rely upon, nonetheless.

[via Tax Update Blog via Tax Lawyer’s Blog]

Apparently Some Stimulus Funds Will Buy Cocaine for Monkeys

Among other things.


The real question is where does Al Lewis get the stuff that he’s on?

Taxpayer Funds Used to Fund Cocaine in Monkeys Study [FBN]

Preliminary Analytics | 12.09.09

Tim_geithner.jpgGeithner Said to Be Seeking TARP Extension Until Next October – Timmay is expected to scribe a letter to Congress letting them know about the little extension. [Bloomberg]
Standard Chartered Sees No ‘Material’ Impairments in Dubai – Let’s remember this for future reference. [WSJ]
Lessons Lost – Gary Weiss links to GC in his remembrance of Enron. Does anyone else remember Enron? [Portfolio]
Obama’s Stimulus II – BO wants to help small business by letting them “eliminate capital gains taxes on the sale of small firms, allow them to continue to expense capital investment, and give them tax breaks for hiring new workers.” Sounds nice but Howard Gleckman says, “It’s a bit like throwing a drowning man a 64-inch flat panel TV. He might love to have one, but not right now.” [Tax Policy Center]
U.S. SEC Sues to Freeze Assets Of ‘Ponzi Scheme’ – Rockford Funding Group LLC, come on down! [DealBook]