http://blog.turbotax.intuit.com/2012/04/17/three-overlooked-tax-deductions/looking-at-money/ It's all about the refund Thu, 13 Jun 2013 19:26:13 +0000 hourly 1 http://wordpress.com/ http://blog.turbotax.intuit.com/2012/04/17/three-overlooked-tax-deductions/looking-at-money/#comment-35269 Fri, 13 Jul 2012 08:33:52 +0000 http://intuitturbotax.files.wordpress.com/2012/04/istock_000012870642xsmall.jpg#comment-35269 The numbers are so large that one can’t wrap one’s head arnoud them. That’s how the politicians get away with demagoguing their favorite positions. Allow me to illustrate with a picture.Plug the following numbers into a spreadsheet, then convert them into a bar graph. You will be amazed.National Debt: $14.3 Trillion (eleven zeroes)Current Deficit: $1.7 Trillion (eleven zeroes)Spending Cut Compromisefrom the latestContinuing Resolution: $30.38 Billion (seven zeroes)While we’re on the subject of politicians lying (gasp!) don’t buy the promises of reducing the deficit 10 or 20 years in the future. I call BS on that. Future Congresses will not be bound by anything the current Congress promises. Furthermore, any talk of reducing the deficit is still a red herring. The deficit is just the current year shortfall. We will not reduce the debt until the annual deficits are less than zero. I want to hear a plan to reduce the debt, not the deficit. I want it in the very next budget, not 10 years in the future. Any politician who claims to have a plan to reduce the deficit in 10 years is simply pandering for votes ( ie: lying).

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