Can You Play the Lottery as a Business?
Originally Published on forbes.com on November 3rd, 2011 ______________________________________ Gambling losses are only deductible to the extent of gambling winnings...
When Will the Education Bubble Explode?
At this present time, I don’t see the education bubble popping. But the education bubble could pop quickly because two of the major factors – the current and future attitudes – tend to change faster than many economists know (consider how quickly Americans changed their spending behavior after the last recession). Or the education bubble could pop in the sense that there’s a liberal art explosion – students finally realizing that math-related fields trump art-related fields. Either way, I do agree with both Mish and Thiel on one thing: the amount of student loan balances that we see are unsustainable and something will eventually happen.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.