Wednesday, January 11, 2012

Federal Income Tax

That is one of the classes I chose to take this semester. Yes, chose. I needed a 3 credit course and that one fit my schedule.

I was really dreading this class, but after my first day I feel a little better about it. My professor (I'll call him Professor C for now) went over some basic ideas with us for most of the class. He gauged what we already knew and filled in some gaps.

One of his questions was, "Why do we tax?" Of course the most obvious answer is to raise revenue. He started to explain some of the ways that corporations can get around being taxed while politicans claim that everyone's tax rates remain the same. He said, "What does every person who has ever run for president say? I will NOT raise taxes." We all knew that one. Then he went on.

"No politician would ever get elected on a Raising Taxes platform. like 'Hey, I'm gonna fuck up your life!'" I laughed so hard. I don't know what it is, but when teachers curse in class, it makes me like them more. Maybe I'm just a heathen.

He tried to impress upon us that no matter what area of law we wished to practice, we would all benefit from our knowledge from the class. He used Family Law as an example: "What do they always tell you in Family Law? Everything is done for the benefit of... the children. Right?" He paused.

"Bullshit!" Oh?

"Everything is done so that she can bulldoze that $12 million house. And why can she do that? Because she got $150 million settlement! And anybody getting money like that is going to want it untaxed."

Some puzzled faces must have appeared around the room I guess, because he clarified, "Tiger's ex-wife!"

Cursing and topical humor... count me in. And yes, that was a lame attempt at a math-related joke. It's been a long day.

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