As I was sitting here on a dark and rainy Friday morning seething quietly after cutting a check for a $1825 special assessment from my condo’s governing HOA, I realized it’s been a few days since I posted anything. What can I say, rage, it seems, beings out my inner soul as a writer – or maybe it’s just the catharsis I need after getting gang banged by a homeowners association board who must have been holding on to a shit ton of proxies when they voted.
I’m always curious about those who see rental income as a surefire pathway to wealth. Maybe it is under certain circumstances – if you’re local and can do many of the repairs yourself, if you paid cash and aren’t using at least a portion of the rent to make the note, or if you aren’t governed by an HOA that’s at least as good at spending other people’s money as the United States Congress. I’ve been renting out this condo since 2003 and I’ll admit that there have been a few good years – those years when nothing breaks and there’s no damage to be repaired. Those years are the rarity. Far more often it’s a break even proposition where you’re lucky to be about $500 into either the black or red by year’s end. Then, of course, there are those years where you end up pouring your own cash into the place hand over fist. No one talks about those years when they tell you what a great idea it is having a rental property.
At least the bastards got the bills out in time to use the whole damned mess as a 2018 deduction instead of having to wait an additional year to recoup a few pennies on the dollar. When your “bright slide” is consoling yourself that you have something to help offset the decreased federal deductibility of state and local taxes, you’ve really got to rethink the whole plan from start to finish.
This dark and rainy Friday is going to largely be about resisting the temptation to drive down there and nail a for sale sign to the door and being done with the whole bleeding mess.
1. Looking busy. During an average year there are plenty enough times when the number of requirements arriving over the side are large and numerous enough to swamp you before you ever get a chance to close them out. The few days before Christmas are not, generally, one of those times. The real issue now is no matter how important the thing is, the people you need to provide the answers, aren’t around. Sure, you’ll make an effort to close out those things that can be closed out without needing a lot of outside input, but with that done, you’re left largely with either make work projects or simply trying to make yourself look busy. At least when I get back after the first of the year, I’ll have a beautifully set up file system already built for all of those new 2018 emails. You can’t see it, but I’m rolling my eyes.
2. CNN. The day after a bill passed out of Congress giving most Americans an income tax cut, CNN’s website lead off with the banner headline “Enjoy your tax cuts while they last.” They go on to concede that “a lot of households… will see a lower tax bill in the next several years.” The article largely focuses on the expiration of many of these individual cuts by 2027 – a decade hence. The thing is, though, Congress can pretty much do whatever it wants. Tomorrow they can pass a bill making these cuts permanent. The next day they can pass a bill that changes the date they expire to a week from Tuesday. Sure, I would have loved to see the individual tax reduction provisions made permanent in the original bill, but I’m damned if I’ll reject a reduction now when balanced by what might be a decade in the future. A decade is a hell of a long time in politics – more than enough time to apply maximum pressure to our duly elected representatives to ensure the cuts they’ve made now are made permanent or replaced by better alternatives… and bird in the hand and whatnot.
3. The shortest day. We have the solstice over with now, but it’s a long, dark climb back to a point when we don’t exist as a race of mole people, traversing to and from home each day in utter darkness. I’m sure some people will wax poetic about the majesty of the shifting seasons, but I’d be happy enough stuck on high summer with its ready supply of daytime in big, beautiful 15 hour blocks.
Depending on your news source of choice, you’ll hear a lot about the tax bill that just passed through Congress being the best tax overhaul in a generation or the worst catastrophe to ever befall the republic. The line I heard today that most sticks with me, though, is that “the tax bill does the most for the people at the top of the income ladder.”
Um, well, yeah. I guess it does. Those are the people who are paying most of the income taxes collected by the federal government. It seems that any changes at all to the tax code would likely impact them more than it does the 43% of the population who currently pay no income tax.
In a quick review of the discussion, I found that “A Pew Research Center analysis of IRS data from 2015, the most recent available, shows that taxpayers with incomes of $200,000 or more paid well over half (58.8%) of federal income taxes, though they accounted for only 4.5% of all returns filed.” Drop that income level down to $100,000 and it accounts for 80.6% if all federal income tax receipts but only 16.8% of tax returns filed with the IRS.
Let that sink in for a moment. About 17% of those filing their taxes carry more than 80% of the burden of paying income taxes. This doesn’t even account for people who for whatever reason aren’t required to or don’t file with the IRS. I’m not now nor have I ever been a math major, but the numbers do seem to indicate pretty strongly that a small percentage of the population is doing a very large percentage of the heavy lifting when it comes to the overall income tax burden.
Knowing all this, when the discussion comes around to who needs to pay their “fair share” or how wrong it is that the people who actually pay the vast majority of income taxes should benefit from a reduced tax burden, I honestly have no bleeding idea what you’re talking about.
1. Tax reform. This country needs real reform of the tax code. Whether you fall into the “tax the rich in oblivion” camp or find yourself in the “Why the hell do 50% of Americans not pay a penny of income tax” team, the need for reform is the one thing we all seem to have in common. The terms of the current Republican tax plan are still largely shrouded in secrecy, but I’ve already seen two items kicked around that will be will mean I can’t support it as long as they’re in play. I’ll be writing my representative this weekend to let him know that the home mortgage deduction and state/local tax deduction are non-negotiable points for me. Those are two big pots of available cash and I know how tempting that must be for the average politician to put their filthy hands all over… but still, going after two of the most popular deductions around feels like just about the most tone deaf way to get the process started.
2. Temptation. There was beer at work today. Sort of. It was the start of this year’s Oktoberfest celebration – an event that my employer has a tremendous amount of love for, which I can only assume comes from the number of employees who have spent some part of their career in Germany since 1945. Look, if the option is to go sit around listening to oom-pah bands and knocking back cold beer or stay at my desk and pretend to be interested in email, well, there’s not really much of a competition. The problem comes when you’re a few drinks in and everyone is starting to get a little lubricated and entertaining. That’s when the little voice in my head trips an alarm to remind me that it’s probably time to go before I say something that’s both funny and true, but wholly unprofessional. The real temptation, though, was to stick around just out of curiosity to see what offensive or inappropriate sound bite might come flying out of my pie hole.
3. Jared Kushner. Having spent a good portion of 2016 being hot and bothered by Secretary Clinton and her email server, it’s only fair that I call out Jared Kushner in his capacity as Senior Advisor to the President. His use of private email to conduct official business should be investigated by Congress. His files and records should be subpoenaed. If there is evidence indicating he has broken the law, he should be charged criminally and tried. While I’m on the subject, I’ll remind those on the left screaming for Kushner’s head, that there is a world of difference between official email and classified message traffic. That being said, it’s apparently impossible to keep either one on non-government servers. Asshats.
1. “Emergencies”. We’ve been over this before, but it bears repeating. The way people throw around the work “emergency” in the contemporary office is basically laughable. No one is bleeding. No one is about to start bleeding. The word you’re probably looking for most often is “embarrassing” as in you’re about to be embarrassed due to something you did, were supposed to do, forgot about doing. Alternately, you might be about to get blasted because of poor decision making skills. In any case, those things might represent a legitimate personal emergency to you, but to the rest of us it’s really just a shrug and a so what. Let’s try to leave the talk of “emergencies” to the times when there really are barbarians at the gate or brass hitting the floor, ok?
2. County taxes. The proposed Cecil County budget for FY18 includes increases in both the real property and income taxes. It’s made all the more noxious because it was proposed by a Republican county executive who ran less than a year ago on a platform of fiscal accountability and no tax increases. I know, lying politician isn’t exactly breaking news. Still, though, I’m left to wonder why at some point it isn’t perfectly acceptable to say that we have X number of dollars to spend against Y number of services and when there’s no additional revenue for new or existing services, some things need to be cut. The politicians first response is always to borrow or tax their way into all the revenue they need instead of being required to live by an actual budget in which they can’t always purchase all the goods and services they’d like to have. In the end the bastards always end up with their hand just a little deeper in our pocket. I suppose that’s just what you get when every level of government desperately wants to buy the love and affection of the voters and seeks ways to be all things to all people.
3. Keeping my head in the game. I’m probably expending at least as much energy just trying to keep my head in the game as I am actually doing any productive work. That doesn’t feel like something that’s going to be sustainable over the long term. It’s easier some days than others, but for the most part by the time mid-afternoon rolls around I’m dumping every bit of available effort into just staying awake and some delusory productive activities. Believe me when I tell you that you don’t want to read some of the written products that fly off my desk after 2PM. Unless I absolutely can’t avoid it, I hold them as drafts and then clean them up the next morning when I’m still relatively fresh. It’s a hell of a way to run a railroad.
1. Mandatory attendance. If you want me as seat filler, just say so. Don’t pitch it as a great opportunity to hear some very important words if you’re just looking for asses in chairs. With more to do and fewer people to do it, spending two hours bored to tears hardly feels like the most efficacious use of limited resources, but I’m just a guy sitting here so what the hell do I know.
2. Stuff in my head. I’m feeling pretty good, especially considering how absolutely shitty I was feeling last week. I can’t seem to shake the giant wad of funk that’s taken root deep in my sinuses though. If I could get rid of the wondrous endlessly dripping nose and occasional hacking cough all would be pretty right with the world just now.
3. Paving. Roads need to get paved. It’s one of the few things I don’t mind paying taxes to fund. That being said, it would be awfully convenient if it could be scheduled in such a way as to not take place during peak traffic hours. Seems to me that there are large swaths of time in the middle of the night that would be useful for doing that kind of work that wouldn’t cause mayhem and chaos with everyone else’s schedule… but again, what the hell do I know about operations and logistics.
Tonight I have absolutely nothing to offer the internet. Off and on through the course of the day I was treated to the shrill metallic whir of a power drill disassembling and reassembling cubicles. As it turns out that sound apparently trips some long-dormant switch in my brain that renders me incapable of any kind of rational thought. Seriously. That’s just barely an exaggeration. I don’t have a clue what I worked on today, who I talked to, or even much more beyond the fact that I was there for some period of time.
The whole experience is vaguely unsettling, but maybe even more so because the renovation project we’re “just going to work through” appears to be slated to last several months. By the time it wraps up, I’ll probably count myself fortunate if my brain isn’t quite literally dripping out my ear.
And please, for the love of all things good and holy don’t get me started on the sheer jackassery of “renovating” office space that’s just barely five years old. My inner taxpayer would dearly love for someone to explain why it’s a fiducially responsible idea.