Deep within Black Bart's "Uncle" post is his commentary about the poor economy -- I suppose in the location where he prepares taxes.
Actually, I don't know anyone more qualified as a group to comment on the economy than tax preparers. It seems like we see EVERYTHING whether we want to or not. W-2s for rich and poor alike, business returns, etc.
What I see is a polarization. The rich getting richer, and rich suburbia getting richer. The poor are getting poorer, and inner cities and rural small towns getting poorer. Most of you know I am a ferocious conservative, but surprisingly a Democrat. Without getting into politics, I can point to issues such as the weakening of Labor Unions, unbridled illegal immigration, sovereignty issues like NAFTA, increased government selling out to wealthy special interests, and compromising of moral fiber as contributing factors -- and I believe this is across the board without respect to political party.
This by definition is a tax forum and if we want to dwell on social issues we can find a blog somewhere else. But what I want to point out is there is scarcely an occupation more qualified to observe the economy than tax preparation. We know more about most of our clients than their own next-door-neighbors.
Before I lost my Dad, he would tell me his guage of the economy would be to wait nearby at the old L&N railroad crossing and count the cars. A long train meant the economy was good, but if he didn't have to wait long, the economy was poor. In a weeks time he could tell about the economy without having to read the paper.
No one can count boxcars like we can. If anyone can figure out a way to capitalize on this first-hand information, please let me know.
Actually, I don't know anyone more qualified as a group to comment on the economy than tax preparers. It seems like we see EVERYTHING whether we want to or not. W-2s for rich and poor alike, business returns, etc.
What I see is a polarization. The rich getting richer, and rich suburbia getting richer. The poor are getting poorer, and inner cities and rural small towns getting poorer. Most of you know I am a ferocious conservative, but surprisingly a Democrat. Without getting into politics, I can point to issues such as the weakening of Labor Unions, unbridled illegal immigration, sovereignty issues like NAFTA, increased government selling out to wealthy special interests, and compromising of moral fiber as contributing factors -- and I believe this is across the board without respect to political party.
This by definition is a tax forum and if we want to dwell on social issues we can find a blog somewhere else. But what I want to point out is there is scarcely an occupation more qualified to observe the economy than tax preparation. We know more about most of our clients than their own next-door-neighbors.
Before I lost my Dad, he would tell me his guage of the economy would be to wait nearby at the old L&N railroad crossing and count the cars. A long train meant the economy was good, but if he didn't have to wait long, the economy was poor. In a weeks time he could tell about the economy without having to read the paper.
No one can count boxcars like we can. If anyone can figure out a way to capitalize on this first-hand information, please let me know.
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