Our Tax System….

Zelenak & Chirelstein on Tax Shelters:

This article describes the ongoing legislative and administrative efforts to curtail tax shelters. It concludes that these efforts, which rely largely on disclosure requirements and penalties, cannot succeed as long as taxpayers continue to win many of the litigated shelter cases.

Amazing… Yet, we continue to generate more tax law spaghetti.

Bob Lefsetz on the Music Business

Barry Ritholtz published Bob Lefsetz’s comments on the state of the music industry:

“We’re being duped. The RIAA keeps saying it’s saving the MUSIC when really all its label members are interested in is saving THEMSELVES!
It’s out of control. Irrelevant of the Grokster decision. These billion dollar companies with their high-priced lobbyists have infected the media and the minds of the public to the detriment of ART! What’s worse, they’ve convinced the musicians signed to their labels of the validity of their position, which is equivalent to slaves standing up for plantation owners.
I don’t know about you, but I believe in MUSIC, not LABELS!