The Skinny On The Failed Senate Skinny Bill
The Continuing Paycheck Protection Program Act starts on Page 73. The curious incident there is that there is no mention of the IRS position that made the income exclusion of PPP pointless. That is probably the biggest concern of accountants, besides getting stiffed by the banks, which also goes unmentioned.
NonSequitur Show – Object Lesson In Business Formation
The most extraordinary thing about this controversy is the amount of coverage it has generated on Youtube. I tried to compile a comprehensive collection of videos. I identified 65 videos on 22 different channels with a total of 93 hours and 204,724 views. I know my list is not complete because a more curated compilation by Cheshire Viq includes many videos I did not catch. (Note many of the YouTubers involved in and following this story, unlike Steve McRae and Kyle Curtis, use a handle or perhaps a nom de guerre which I will indicate by using italics).
This is a dispute between two guys about how to split up fifty grand that they made over two years. Never in the course of human history have so many said so much about so little. I think there is a critical mass sort of thing that is going on, because much of the material, which I have only sampled, is people talking about what other people have said and why they are right or wrong. Steve and Kyle in their bickering have set off a sort of Youtube chain reaction that appears to be self-sustaining.
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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.