Author Archives: Russ

What Causes Deficits: Not Enough Taxes or Too Much Spending?

Posted on February 9, 2005 by Russ

It can be both, of course; however, the National Taxpayers Union says of the Federal budget deficit, it’s too much spending. While Nancy Pelosi states that President Bush and Congressional Republicans have, “completely abandoned fiscal responsibility,” the National Taxpayers Union … Continue reading →

Posted in Legislation | 1 Comment

RALs, and Why They’re Bad

Posted on February 9, 2005 by Russ

I don’t often agree with Bill Lockyer, California’s Attorney General, but I absolutely agree with his view of RALs (Refund Anticipation Loans). These are available from tax preparers and allow you to get your refund “instantly.” There’s only one problem … Continue reading →

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Federal Budgeting Isn’t Much Better…

Posted on February 9, 2005 by Russ

Below, I comment on California’s bankrupt budgeting process. According to this report from the Heritage Foundation, the Federal budgeting process is only slightly better. Among the points made in the report is that the budgeting process has a bias towards … Continue reading →

Posted in Legislation | 1 Comment

And California’s Rich Aren’t Taxed Enough

Posted on February 9, 2005 by Russ

That’s the Democrats’ view, in this article in the Los Angeles Times. The article says that because of Proposition 13 limits on property taxes (properties are not reassessed until a change in ownership), California loses tax revenues. It’s true. It’s … Continue reading →

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California’s Bankrupt Tax System

Posted on February 9, 2005 by Russ

If you run a business, you need to turn a profit in order to stay in business. If you have a non-profit, your revenues and expenses need to balance. But if you’re the Federal Government, you can have a deficit: … Continue reading →

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Why This Blog

Posted on February 9, 2005 by Russ

After reading Hugh Hewitt’s Blog, starting a blog for Clayton Financial and Tax became a necessity, not a project for “tomorrow” (whenever that is). There are already some excellent blogs covering taxes (see the blogroll on the right–if yours isn’t … Continue reading →

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Who Is Russ, Anyway?

Posted on February 9, 2005 by Russ

Russell Fox is the principal of Clayton Financial and Tax. Russ has been in financial management and tax for over 22 years, and has previously served as a CFO for a dot-com. Russ received his MBA from the University of … Continue reading →

Posted in Taxable Talk | 6 Comments