December 4
Yesterday I requested a W-4 form from my employer and changed my deductions line from 0
to 2. In the past I've always set my deductions as 0 because I have income from
sources outside my job which do not deduct money for the IRS or California Tax Board.
This year, I am going to take the full allowable deductions.
The IRS, like most of the United States federal government, is woefully behind in their
Y2K preparedness. This is nothing new. Eighteen months ago, Peter de Jager
predicted that we would be on a modified flat tax by 2000, because it would be easier for
the IRS to write that software than to repair the old programs. I have heard rumours
from knowledgeable sources that suggest the IRS is prepared to return to paper accountancy
rather than give up on collecting taxes in 2000.
If, in January 2000, anyone owes anyone else money, I want it to be me owing the IRS.
I figure my bank will be in business and I will have that money to write a check.
I don't want my refund amount disappearing when the IRS's computers go down.
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December 8
At about 8:15 AM this morning, the power went out in San
Francisco. Because of its geography (the city is on a peninsula) all power flows
into the city over landlines from the south. Something blew this morning, and the
city and its southern suburbs went dark. PG&E estimate that 375,000 customers
were affected. Since a customer is a residence or office or company, that means that
over a million people were in the dark.
One woman was killed when she was struck by a bigrig in an intersection.
Fortunately, there was no rioting or looting. The biggest problem seemed to
be people stuck in elevators and the traffic. And of course, all of the computers
went down.
In the reports, people were wondering if Y2K would look like this. I
think this about sums it up. Some people will probably be hurt or killed. Most
people will probably just be very inconvenienced. Of course, you have to think about
how much of an inconvenience it will be if your power goes out. Will you be forced
to go play football in the street as were the traders on the Pacific Stock Exchange, when
they discovered that the battery backups were insufficient to permit trading? Or
will you be huddling in a house in the midwest trying to keep warm? Or will you be
watching the ball drop in Times Square?
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December 11
I dropped a quick note to my accountant today telling him about my
increasing my deductables for 1999. I suggest he encourage his other clients to do
the same.
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December 18 |