Kerry M. Kerstetter, CPA (referred to as The Tax Guru by other CPAs around the country) helps capitalists, investors & small business owners win the tax game. See www.TaxGuru.org for much more detailed info.
Please note that Kerry does not personally agree with every item included here; but passes them along for the benefit of the readers' understanding of the varied viewpoints on the issues being discussed.
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Tax Guru-Ker$tetter Letter
Saturday, October 05, 2002
Stupidity On Both Coasts
Proving that the Left Coast doesn't have a monopoly on idiotic tax policy, New York City's RINO Mayor Bloomberg is suggesting that raising tax rates is under serious consideration. As this short article on Bloomberg's hypocrisy mentions, such a practice of raising tax rates to combat a recession will result in a type of financial death spiral. Tax revenues will drop due to changes in behavior. This will lead the geniuses in power to reflexively raise rates again, compounding the problem even further. It's too bad Rudy Giuliani wasn't able to groom a successor who could continue his conservative policies.
KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 10/05/2002 11:48:00 AM Send this post:
