David Merkel is an investment professional, and like every investment professional, he makes mistakes. David encourages you to do your own independent "due diligence" on any idea that he talks about, because he could be wrong. Nothing written here, at RealMoney, Wall Street All-Stars, or anywhere else David may write is an invitation to buy or sell any particular security; at most, David is handing out educated guesses as to what the markets may do. David is fond of saying, "The markets always find a new way to make a fool out of you," and so he encourages caution in investing. Risk control wins the game in the long run, not bold moves. Even the best strategies of the past fail, sometimes spectacularly, when you least expect it. David is not immune to that, so please understand that any past success of his will be probably be followed by failures. Also, though David runs Aleph Investments, LLC, this blog is not a part of that business. This blog exists to educate investors, and give something back. It is not intended as advertisement for Aleph Investments; David is not soliciting business through it. When David, or a client of David's has an interest in a security mentioned, full disclosure will be given, as has been past practice for all that David does on the web. Disclosure is the breakfast of champions. Additionally, David may occasionally write about accounting, actuarial, insurance, and tax topics, but nothing written here, at RealMoney, or anywhere else is meant to be formal "advice" in those areas. Consult a reputable professional in those areas to get personal, tailored advice that meets the specialized needs that David can have no knowledge of.
Excellent idea, David!
David,
Well, you’re welcome to move up to Canada. Our taxes our due at the end of April, so you get an extra two weeks to file. On the other hand, tax freedom day often arrives 6-8 weeks later up here than it does in the States, so be careful what you wish for….
Steve
Steve, it’s not the level of taxation that bothers me as much as the way it gets spent. Living where I do, I have more than my fair share of friends who are in mid-level positions in the military industrial complex. We don’t spend smart, and we try to do too much. (Don’t get me started on the war… I was even against Gulf War I.)
Beyond that, the complexity of the tax code is mind-numbing. I still do my own taxes. I don’t want to give that up, but I am having to do some things that would make some accountants scratch their heads. There are ways to simplify the definition of income; it’s not hard to do, but politicians like the Christmas Tree approach to the tax code, hanging out goodies for special interests.
The Tax Reform Act of 1986 was a marvel of simplicity; would that we could go back to it. Only those that benefit from complex tax shelters would be hurt. (My but they are powerful lobbyists…)
David,
That’s very true. Even up in Canada one hears of the absurd complexity of the US tax code, not to mention the army of lobbyists in Washington. Shocking to contemplate a correlation between the size of the tax code and the number of lobbyists, don’t you think?