Taxpayers have been paying a 3% federal excise “luxury” tax on long-distance service dating back to 1898 that was put in place to pay for the Spanish-American War. According to my sources, that war is now over. But the taxes was never discontinued. Well, until now. We are going to be getting a refund on our 2006 federal tax return. The refunds will be $30 if you’re filing a 2006 return with one exemption; $40 for two exemptions; $50 for three exemptions and $60 for four or more exemptions. The IRS said that these figures are based on “the long-distance phone tax paid by similarly sized families and households.”
If you still have your old phone bills, you can dig through the last 41 months worth and find out how much you actually paid in taxes, and claim that amount on your return.
Not sure why we are only being refunded for the last 41 months, since the tax dates back to 1898? I find it had to believe that it took over 100 years to pay for the war. My guess is they just don’t want to, or feel they need to pay all that money back. I am a little surprised they have bothered paying back anything at all.
It was just reported that Kenneth Lay died from a massive coronary. He was convicted of 10 counts of fraud, and was awaiting sentencing. The scumbag managed to avoid prison! He was responsible for many people losing their life savings, while getting rich in the process! And he never saw the inside of a prision! THERE WAS NO JUSTICE! He was convicted and got to spend the rest of his life free! SEND SKILLING TO PRISON TO AWAIT SENTENCING NOW BEFORE THAT BASTARD DIES TOO!
Warren Buffett announce that he will start giving away 85% of his fortune to charity starting in July 2006. Warren Buffett’s is currently the second richest man in the world, and his holdings are worth $44 billion! He said he plans to give the money to five charitible foundations, with most of it going to the Bill & Melinda Gates Foundation. The remaining donations with go to foundations headed by Buffett’s three children, Susan, Howard, and Peter, and to the Susan Thompson Buffett Foundation (named after Buffett’s late wife).
Buffett has always said he would give his money to philanthropy. But he said it would happen upon his death. Apparently he has changed his mind.
The Enron trial verdict is in! Skilling guilty! Lay guilty!
Skilling was found guilty on 19 counts. Apparently he got out of 9 counts of insider trading. Lay was found guilty on all 6 counts! According to legal experts, both scumbags face 20 to 30 years in prison. Of course they will appeal!
Sentecing is scheduled for the week of September 11th. Not sure if that is an omen? One of the biggest drops my 401k ever took was following the September 11th terrorist attacks. The other big drop was when the Enron scandal started off a chain of financial scandals!
Now that we have the Enron trial verdict in, I look forward to seeing these scumbags in jail! I want to see them go away for a long time!
Rot in hell Kenneth Lay and Jeffrey Skilling! Maybe some of your fellow inmates will personally demonstrate on you what you did to your investors and employees!
It was announced today that Lowes earnings for first quarter climbed 44 percent while revenue rose 20 percent.
Analysts expected a profit of 94 cents a share on revenue of $11.84 billion. But Lowes made a profit of $1.06 per share on revenue of $11.92 billion.
So here is the question! With Lowes earnings rising like that, why has Lowes stock dropped over 4% today?