High Rollin’ Online and Presidential Profits

I just made a quick visit to the Garden State (that’s New Jersey for the uninitiated) and I can happily report that the casinos and online gambling sites are alive and well.   So how come Donald Trump’s casinos and hotels have gone bankrupt and are shutting down, i.e., his Taj Mahal casino in Atlantic City, NJ?  Maybe it was just more profitable for HIM since he has a better deal now as the president.  And he and his entire family are on the government payroll and don’t pay a nickel for anything they may need.  He just sends the bills to Uncle Sam (that’s you and me).  

FYI.  New Jersey is now joining Nevada and Delaware in an online poker pact.  Figures released last Thursday by the New Jersey Division of GamingEnforcement showed Atlantic City’s seven casinos and online gambling outlets won $235.8 million in September, an increase of 4.1 percent compared with September 2016.  That included $20.4 million last month from online gambling, up 25 percent over last year.

Maybe we will eventually see how the president is faring financially when he finally releases his tax returns, whenever or whether that will ever be?

Ray Myers

It’s Not Magic, It’s Science  

Last Saturday in Washington, D.C. (and in more than 600 cities worldwide) Bill. Nye, the Science Guy, was one of the Leaders of  the nationally-organized March for Science (technology a strong enabler).  He addressed the crowds this way: “Greetings, fellow citizens.  We are marching today to remind people everywhere, our lawmakers especially, of the significance of science for our health and prosperity.”  Meanwhile in the White House, a few hundred yards away, “so-called President” Trump was putting the finishing touches on a one-page news bulletin detailing the tax benefits and major reductions for the wealthiest Americans in his new plan.  I don’t think he was as concerned about insuring continued scientific progress that would advance Americans’ “health and prosperity.”  To the contrary, he was still working on how to repeal and replace Obamacare.

Trump would have us all believe that our planet is NOT environmentally endangered.  Unfortunately, he is also being supported by a rise of anti-scientific notions – the anti-vaccination movement and climate-change denial in particular.  Nye argues that “When you become scientifically literate, I claim, you become an environmentalist.  Somewhere along the way, there has developed this idea that if you believe something hard enough, it’s as true as things discovered through the process of science. And I will say that’s objectively wrong.”

Thank you, Bill Nye.  May we all “Live long and prosper!”  🖖

Ray Myers 

File Faster, Wait Longer – Technology and the IRS

Speedy tax refunds just got less speedy.  Looks like this is a casualty of protecting your identity while online.  Tax software providers are now requiring account holders to use stricter passwords and log-in requirements meant to reduce the chance that a criminal can access their accounts.  More effort will be dedicated to confirming taxpayer identities before refunds are paid out.  The IRS will have $290 million in additional funding that it can use to fight identity theft, bolster cyber security and improve customer service.  Ironically, the federal government will now have to spend more of the taxpayers’ money in collecting their taxes, policing a process that was originally intended to “streamline” a burdensome paper process.

It seems like the process is now being so carefully vetted that some states have passed legislation that prohibits refunds from being paid out before March 1 unless both the employer and the taxpayer have filed the necessary income forms.  So even if you are dutiful enough in collecting all your yearly income data, and completing all your tax reporting forms, and filing them as early as possible, you may still have to wait for your state to follow its mandated timeline.  Even at the federal level, tax experts concede that the “old days of fast refunds are gone.”

Unfortunately, for the “early bird” tax filers, whether online or through the mail, this is not such good news.  But if you are a procrastinator like so many of us, you will be heartened to hear that you can wait until April 18, instead of April 15,  because Emancipation Day, a holiday in D.C. falls on the traditional tax day.

Ray Myers