It's that time of year again, tax time.
Since the market is closed Good Friday and markets in Europe will be off Monday, maybe a little levity in the face of all the turmoil going on might lighten things up a bit. We'll see.
Nearly a decade ago when my retired partner and I ran a small Newport Beach investment boutique for private clients, we ran into a lot of AMT, the alternative investment tax. In short, it's one of Congress' most clucked-headed, dumbest ideas. And that covers some serious ground.
And that's where the levity comes in. Sometimes you have to just laugh at the stupidity of these folks, it's magnitude. We spent a lot of keyboard time writing about it then, trying to inform and warn. It's like an octopus on performance enhancing drugs whose tentacles keep getting longer every year.
Yet there's something about even the mildly complex that turns many people off. That is, until it hits their wallet and they have to tell their significant other.
We'll spare you the angry-provoking details. It's another one of those to-get-the-few-you-concoct-an idiotic-complex tax that eventually gets the innocent and the many and zero of the few.
So with that introduction, happy tax time to all and here is a link for your reading pleasure.
http://www.thefiscaltimes.com/Articles/2013/03/28/10-Tax-Laws-That-Hurt-the-Economy-Most.aspx#page1
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