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  1. #21  
    Administrator SaintLouieWoman's Avatar
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    Sep 2002
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    Quote Originally Posted by Milly View Post
    I don't feel particulary jumped on. I asked because I wanted answers, and you guys came through, thanks.

    That said, I think I most agree with PhillyGirl. With an inflationary dollar, I might as well try to identify next years needs and buy stuff now while it's relatively low priced. Mercifully, Indiana has no sales tax on food and it's always been my way to have a fully stocked pantry and freezer.

    Gotta' get off now and go do some target practice.
    I've also been buying lots of food on sale and stocking up. I've sold equipment to the federal government and have seen the wasteful, stupid spending, so I've always been one to pay as few taxes as I legally can. I wish that I could find a really good tax adviser to give legal ways to reduce the tax burden.

    Your basic concept is a good one, but be careful about some of the ideas floating around the internet.

    The very wealthy always have ways to reduce their tax burden. They can afford the best financial advice. It's the middle class that usually gets stuck with the tax bill.

    We'll have to wait to see what the magic president has up his sleeves. I have a feeling it isn't that good or magical for most of us.
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  2. #22  
    Senior Member MrsSmith's Avatar
    Join Date
    May 2008
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    Kansas
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    2,391
    There certainly is a way to set up businesses that appear to have no income, but provide nice tax deductions. I don't know enough about tax law to do so myself, but have seen this exact scheme used to advantage by Mr Smith's ex. I think I need to discuss this with a good CPA and see what can be done...
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    In actual dollars, President Obama’s $4.4 trillion in deficit spending in just three years is 37 percent higher than the previous record of $3.2 trillion (held by President George W. Bush) in deficit spending for an entire presidency. It’s no small feat to demolish an 8-year record in just 3 years.

    Under Obama’s own projections, interest payments on the debt are on course to triple from 2010 (his first budgetary year) to 2018, climbing from $196 billion to $685 billion annually.
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