Can You Afford that Car?
Recently a friend of mine, who lives in a city in Northern California, called me, extremely upset. She said she had just received a letter from the California Franchise Tax Board, the ruthless entity that collects taxes in sunny California.
The letter referenced her 2006 taxes, asking her how she had the means to buy a certain very expensive car she owns. She was asked to document how she had the money for it and why they saw no sign of that income on her 2006 return. [Read]
Ben Stein's anecdote should concern us all, though what it most disconcerting are those who are not the least bit concerned.