Vanguard Materials ETF (VAW) got stopped out today at $85.03. We owned this investment a grand total of 13 days during which time we eeked out a gain of under 1%. Not the time frame we're looking for but on a day like today, even a small gain feels good.
Tax preparation season has started here in earnest. For the past seven years an accountant helped prepare our return but we're back to flying solo this year. Even with a simple, almost boring return, it's quite a time-consuming grind getting through all the questions and forms. This is my first try using a tax prep software package. I opted to go with TaxAct, a low cost option. So far I'd grade it a solid B, but again, I have no basis for comparison. Any presidential candidate who puts forth a grand plan for simplifying the tax code deserves a serious look.
Laurence Kotlikoff has an interesting article out today at Bloomberg in which he pegs the long term budget shortfall at $202 trillion. The previous high estimate I can recall seeing was in the $100 trillion range. Surely what we have here is a house of cards.
1 comment:
Obama has a simplified tax plan that incorporates a form with only 2 lines:
Line 1. How much did you make?
Line 2. Send it in.
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