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Taxes

February 13, 2005 at 9:31pm By: Mr. T Posted in Mr. T's Den

I did my federal (and state) taxes this weekend and came off better than last year. Perhaps because I was really socking away $ in my IRA last year? Or it could have been because of the 2004 deduction for state and local taxes? In anycase, I owe the feds $155 (and the state of Nebraska owes me $250). I would rather have owed Nebraska a bit for time value of money reasons, but it is fun to get $ back.

So speaking of tax breaks, how wise are they given the nation’s current deficit of over 400 billion dollars? 

Well as the theory goes, the more tax breaks = more $ to spend = more $ back in the economy. Well I did put money back into the economy…the BRAZILIAN economy…after purchasing a new rice cooker made in sunny Brazil to replace my old burnt out one. Let’s tango!

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