Simul Justus Et Peccator

We own more Bibles per capita in this nation than anywhere else. . .and yet we do not know what is within them.

-Rt. Rev. Thaddeus Barnum

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Thursday, January 05, 2006
AMT

A quick response to Hunter’s comment on the AMT being used to usher in a flat-tax, I find it unrealistic as the AMT still retains a large number of deductions, exclusions, and credits. Also, remember there is an exemption amount which makes the regular tax and the AMT not really matter when “close enough.” Also, there are two brackets within the AMT, not one- making it not a flat tax. Finally, AMT books must be maintained on top of regular accounts, therefore using the AMT to create a flat tax will provide next to economic rehabilitation as the same amount of bureaucracy is necessary. Many people think the AMT is a flat tax but that is unfortunately (or luckily) not true at all, it's simply an alternative method of taxation, with little in common with the standard idea of a flat tax.  I would direct anyone to sections 55-59 of the Internal Revenue Code if any questions remain.

Sorry Hunter, you won’t take my job away that easily J

P.S. Diana Chen says hi, she’s been doing her Audit work while I’m in my cube.


Posted at 09:52 pm by protestantia
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so little time to post . . .

I got paid today to learn about S-Corps. I also got taken out to lunch for the third day in a row which almost makes up for the parking situation. You can either pay twelve dollars and park in building or pay one dollar and walk twenty minutes. Today I chose the one dollar option and while walking back at night to my car, a random black homeless guy started yelling at me and waving his arms. I definitely need to a concealed carry permit.


Posted at 09:48 pm by protestantia
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Sunday, January 01, 2006
Women in my family

My mother and I ran into the mother of my sister’s ex-boyfriend at the grocery store today (while we were picking up Mucinex for me). I’m not sure I told everyone, but my sister was dating a guy for quite a while. She dated him after he enlisted in the Marines and right up to the point when he went to Iraq. . . .when she broke up with him.

 

When I was expressing disgust over my sister not taking one of the country and maintaining her relationship until the War was won, my mom told me that she had dated a guy and broke up with him when he, a Marine, got orders to deploy to Vietnam. The fellow apparently wrote her a letter from Vietnam, which my mom responded by telling him to never write her again. Great.

 

If there were any possibility of reconciliation, my grandmother gave a prayer brook to her boyfriend when he had to fight in WW2. The metal cover of the prayer book stopped a German bullet, saving his life.

 

But still, beware of women in my family. As soon as you have to defend your nation, they’ll screw you (metaphorically, not literally).


Posted at 11:02 am by protestantia
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Saturday, December 31, 2005
Sick- probably caught a bug from some hippie or ACLU member

I have a 101-degree temperature right now. I won’t be able to go celebrate New Years the right way. Leave some love, people.


Posted at 06:12 pm by protestantia
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Thursday, December 29, 2005
New blog life for the new year

The blog has fallen into disrepair: this I cannot deny. Most of my life has been so uneventful that I didn't have the slightest inclination to codify any of it, let alone broadcast it to whoever checks this corner of never-ending strands of ones and zeros. Nevertheless, I cannot sleep and my routine dictates I mumble online. Thus, I am here typing.

 

I have enjoyed perhaps the greatest period of my life this semester. Living with a good friend and two who became my friends was wonderful, include in that bonding with other friends (and learning that "The harvest is plentiful but the workers are few" is truly accurate) as well as investigating the working environment of accountants. Now that all is complete, most will not be returning. When I bid fairwell to Grant Thornton, I will not find most waiting in Gainesville. The foundation which I have laid is eroding, but my faith and courage look forward excited. The single greatest feat of this year has been the development of my courage, I no longer fear the harsh idol of perfection as I once did and am able to see beauty in most situations in which God has placed me.

 

The gap between the present and the end of finals has been filled with little of interest. I've pulled weeds, cleaned dishes, and read quite a lot. Harry Turtledove's novels never fail. A new gym was opened by a friend of my fathers, which I began to attend, it features a twenty minute workout whose adrenaline hits harder than most whiskeys (http://www.timetoblitz.com). My sister and I have committed to taking line dancing lessons. Before the ridicule begins I must point out that girls who listen to country music are undoubtedly Republican and Conservative, who wouldn't want to go to Country bars in Tampa? And as for my sister, she can do with something that isn't reflective of a welfare-society and substance abuse.  http://www.theroundup.com/   Trips have been planned to both Washington DC as well as Miami for the month of May, dates are still to be determined. My Dodge and Cox International Stock Fund hasn't been doing too poorly either (www.dodgeandcox.com).

 

The preceding would suffice as a summary for my incognito time. I start GT on the 3rd. I look forward to cultivating new skills and new friendships. Surprisingly there will be a good number of UF accountants in my neck of the woods. Terry and I will be in the same office, whatever amount that counts with the time-distortion present between Tax and Audit. Janet and Erin will be two buildings down. All in easy access for busy-season boozing. I will be in Charlotte the week of the 15th for National training. Raph will hopefully be there, he still owes me quite an amount of beer. I'm sure it will taste just as crisp, refreshing, and wonderful in NC as it does in FL.

 

 

 

 



Currently listening to:
Reflection of Something
By Todd Agnew



Posted at 01:16 am by protestantia
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Tuesday, December 20, 2005
Not much and an article

Well, I haven’t been updating this thing a lot mostly because I don’t have that much to say. I’m excited about Grant Thornton, not only about seeing what I am capable of doing for a living but also about the new funds I will have to sink money into. Basically, I’m just reading a lot of my regular sources in order to keep up with what is happening in the world. Here’s an article, look at page 3, about how the Nigerian Anglican Church has removed all references to Canterbury in its Constitution because of its homosexual drift. I predict rough waters ahead for the Anglican Communion.

 

http://www.ird-renew.org/atf/cf/%7B8548C466-7ECE-4AF1-B844-49C289CE5165%7D/2005%2004%20EABRIEFING.PDF

 


Posted at 02:36 pm by protestantia
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Friday, December 16, 2005
A highlight from a GAO Report many of you may find interesting

Posted at 05:00 pm by protestantia
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Wednesday, December 07, 2005
Been busy

Haven't had a lot of time to update this, been way too busy. Anyhow, this is a letter I just wrote to Senator Martinez about some tax codes which will soon disappear. All good conservatives (read as 'all good Protestants') will of course contact their represenatives and express similiar concern.

Dear Senator Martinez,

 

I am writing you to express my apprehensions concerning the expiration of noteworthy tax codes on December 31st, 2005. Particularly, I feel the provisions in IRC Sections 55(d)(1) and 26(a)(2), if allowed to disappear, will result in an unnecessarily higher tax burden on American families.

 

If immediate action is not taken, Section 55(d)(1)’s parenthetical will vanish, resulting in a decline in Alternative Minimum Taxable (AMT) exemptions of $13,000 for married couples and $6,500 for single individuals. Please recall that the marginal rates at which income is taxed under Section 55 are at 26% and 28%. Many households will not be expecting to pay such an overwhelming portion of their income to taxes as they have avoided the AMT in the past due to the higher exemptions. Falling prey to the AMT will cause hardworking American families to suffer cash flow problems because their withholdings will not cover the new liability.

 

The predicament surrounding 26(a)(2) is quite similar to that of Section 55. The Internal Revenue Code currently allows for nonrefundable, personal credits to offset both the tax liability and additional tax liability. I find this situation to be quite equitable to society as a whole, as theoretically to earn a credit a taxpayer must engage in a behavior beneficial to all Americans. For example, nonrefundable personal tax credits encourage citizens to care for the elderly, raise children, undergo the high expense process of adoption, and install energy-friendly additions to residences. If Congress deems these actions desirable and wishes to subsidize noble efforts, then why should the its legislation force such people to pay income taxes at 26% and 28% as opposed to 10% or 15%? I find no intellectual grounds for prohibiting these credits from the calculation of AMT liability.  

 

In honesty, I oppose the very idea of the Alternative Minimum Tax. Long ago, in The Wealth of the Nations, Adam Smith wrote of beneficial characteristics taxes should include. Of these, the AMT violates the principals of convenience and efficiency, resulting in harm to all taxpayers and a drain on the overall economy. However, I realized that to be able to repeal the AMT will require a substantial amount of political capital which the present administration may not possess. As a result, Congressional efforts should be targeted towards minimizing the destructive nature of the AMT. This can best be accomplished by maintaining high exemptions and allowing personal credits to offset AMT liabilities as codified in 55(d)(1) and 26(a)(2) respectively.

 

Senator Martinez, I urge you to take action now and further the sunset on these tax codes. I do not desire to see Americans suffer financial hardship because of an antiquated and unjust tax structure.

 

Cordially,

 

 

Michael Mayberry

 


Posted at 02:38 pm by protestantia
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Sunday, November 20, 2005
Hello insomnia my old friend

So I slept in my car last night and got maybe four hours of sleep. The night before I got maybe four hours of sleep. The night before that I got maybe four hours of sleep. Notice the trend? Not getting enough sleep. But right now, I don’t even feel the slightest bit sleepy.


Posted at 10:51 pm by protestantia
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Saturday, November 19, 2005
France cries and feels bad about itself

http://news.bbc.co.uk/2/hi/europe/4451038.stm

 

LOOK AT THIS BULLSHIT! France is crying over the towelhead’s hurt feelings. Job discrimination? Please. Most of these Jawas don’t have any skills to sell in the first place. They are terrorists- thats why they rioted.

 

Immediate military action in France. Forcibly exile everyone with towels on their head and then begin re-educating all the Frogs.


Posted at 08:44 am by protestantia
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