Free kibbles

TAX AND SPEND:

Apparently only plutocrats can get away with paying themselves small salaries.

"It seems $1 salaries are only for super-wealthy tech execs. The WSJ reports that CPA David Watson incurred the wrath of the IRS by only paying himself $24,000 a year and declaring the rest of his take profit. It's a common tax-cutting maneuver that most computer consultants working through an S Corporation have probably considered. Unlike profit distributions, all salary is subject to a 2.9% Medicare tax and the first $106,800 is subject to a 12.4% Social Security tax (FICA). By reducing his salary, Watson didn't save any income taxes on the $379k in profit distributions he received in 2002 and 2003, but he did save nearly $20,000 in payroll taxes for the two years, the IRS argued, pegging Watson's true pay at $91,044 for each year. Judge Robert W. Pratt agreed that Watson's salary was too low, ruling that the CPA owed the extra tax plus interest and penalties. So why, you ask, don't members of the much-ballyhooed $1 Executive club like Steve Jobs, Larry Ellison, Sergey Brin, Larry Page, and Eric Schmidt get in hot water for their low-ball salaries? After all, how inequitable would it be if billionaires working full-time didn't have to kick in more than 15 cents into the Medicare and Social Security kitty? Sorry kids, the rich are different, and the New Global Elite have much better tax advisors than you!"

The IRS will tell you how much you make, and you will pay or else. Unless you're a plutocrat.

The backlash against the Irish government bailout grows as the Green Party withdraws from the government in an attempt to force elections sooner.

"Cowen said the Greens' withdrawal made it essential for all parties to reach an agreement within the next few days on speedy passage of the Finance Bill, which will broadly raise income taxes as part of Ireland's international bailout."

That's the exact wrong thing to do. It might seem amazing that government gets it wrong every time until you realize that the function of government is to empower the ruling class to loot the people, then you realize that government gets it right every time right up until it collapses.

EDUCATION:

America is losing its edge in innovation, but I don't believe for a minute the cause is lack of appreciation for engineers and scientists. The problem is government control of our schools, our economy and our personal lives.


HEALTH CARE:


The other day I was skeptical that Walmart would actually make its food more healthy because it was working with the government. Since government corrupts everything it touches, it's unlikely Walmart's food will get healthier. Now the sham has really been exposed with Domino's supposedly healthy smart pizza for school kids. As I predicted from the beginning, this leap forward in government control of our food supply is going to make Americans even sicker than before.

GLOBAL WARMING AND ENERGY:

Somebody's trying to sell cold fusion again.

This is a great question:

"Will global warming survive a strong La Nina?"

Last year we had a strong el Nino all year. El Ninos always warm the planet, but according to the satellite data, 2010 was still cooler than 1998 and 2005. This year we have a strong la Nina, and la Ninas always cool the planet. Hopefully this cool year will break the global frauds for good. But I won't hold my breath. There's too much money and power to steal for them to give up.


POLICE STATE:


Woman arrested for shooting dog that mauled her child and husband.


FOREIGN POLICY:


Al Jazeera publishes 1,600 pages of leaked documents regarding the Israeli-Palestinian peace negotiations.

MISC:

Happiest penguin ever, and it appears to be in an outdoor zoo.