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Saturday, June 21, 2008
Henry Lamb Needs To Acquaint Himself With TurboTax
Topic: WorldNetDaily

In a June 21 WorldNetDaily column arguing against "progressive" taxation, Henry Lamb offers up the following hypothetical:

Here is Mr. Ten-Forty. On the first day of April, he began collecting his bank statements, receipts and his IRS forms. The instruction book is at least four times longer than the U.S. Constitution. Aside from the several pages of forms in the package, he has to download half-a-dozen additional forms. After investing at least 15 hours of frustrating effort, looking for every possible deduction, he discovers that he must pay 28 percent of his income to the government. Had he earned more income, he would have been punished by having to pay an even higher rate.

1) Why is Mr. Ten-Forty waiting until two weeks before taxes are due before starting work on his taxes? Sounds like he's a horrible procrastinator.

2) Has this fellow never heard of TurboTax? Such tax programs automatically search for possible deducations, meaning that the guy doesn't have to expend "at least 15 hours of frustrating effort" doing so.

3) Lamb fails to tell us that if Mr. Ten-Forty is getting taxed at the 28 pecent level, his net taxable income falls between $78,850 and $164,550 (for 2008). In other words, he's not exactly poor, and his actual income is even more than that since he has taken "every possible deduction."

If a guy with that much income insists on doing his taxes by hand and refuses to make use of either an accountant, a tax service like H&R Block or a program like TurboTax -- all of which can advise him on further deductions he can take or other ways he can shield his income from taxation -- he's got worse problems than Lamb presenting him as someone we should feel sorry for. 

Posted by Terry K. at 10:01 AM EDT

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