Discernment…

If you’ve read me for a while you know I continue to be more of a Luddite than a technology enthusiast.  Artificial Intelligence and the machines scares the GPUs, TPUs, and NPUs out of me.  Not familiar with what those are?  They’re just a few of the technology things that in a single data center consume more electricity than all of Lucas County Ohio, home of the city of Toledo.

What does that mean for the rest of us?  Exactly.  Our future living with the machines is a bit obscure in my mind.  Obscure?  Well, the Merriam-Webster Dictionary offers: 

Dark; Shrouded; Mysterious; not clearly seen or easily distinguished 

But Gary, you might think, what about all of our conveniences courtesy of artificial intelligence?  I get it.  And truth be told, I too benefit from the machines.  I’m simply trying to learn the full picture of how AI is impacting us.  It’s the full picture that scares me.  I’m aligned with this charter school in Lakewood, Colorado: 

We believe that ability to discern is what separates us from beasts and is worthy of lifelong study. 

Addenbrooke Classical Academy 

Discernment?  Back to the dictionary: 

the quality of being able to grasp and comprehend what is obscure 

Merriam-Webster Dictionary 

Ian Leslie in his book Curious © cautions: 

… digital technologies are severing the link between effort and mental exploration.  By making it easier for us to find answers, the Web threatens habits of deeper inquiry - habits that require patience and focused application… there are those who argue that by releasing us from the need to use our memories, the Internet is allowing us to be more creative.  But such claims fly in the face of everything scientists have learned about how the mind works.

What I’m curious about is why we the people are not more curious about the adverse impacts of  technology.  After all, most of us enjoy chocolate but we also know that over-consumption of it can adversely impact our health, true?  

Have you noticed the machines don’t eat chocolate?  My discernment skill makes me suspicious. 

GAP 

When life gets tough we could get a helmet… or… we could leverage the peace and share the power of a positive perspective.

Income taxes - Yuck!

Let’s take a break from our calculators, files, and receipts; aka IRS Form 1040; aka Income Tax Day; aka Yuck!  Next Monday is the deadline.  Are you ready?

Does it seem to you that no matter how we complete our income tax return; no matter how much expert advice we pay for; no matter what plans we put in place to lessen our tax impact for the next year, we still seem to be funding everything?  

On the one hand, I hate the immense level of government spending taking place at the federal, state, county, city and even homeowners’ master association level.  The media reminds us of the tremendous waste that seems to occur every day; every where.  And during an election year?  Well… talk about a “deduction”.  Yuck! 

On the other hand, when there is a natural disaster; a scientific breakthrough funded by a government grant; wider highways; or when we simply have a friend or family member in need and they receive support from a social services program, we are happy we live in America, true? 

Income tax time is one point during the year when we add it all up.  (Talk about “March Madness”. HaHa!)  Sometimes we like the results; other times?  Not so much.  It brings to mind that “new math”: 

The Income Tax has made more liars out of the American people than golf has. 

Will Rogers 

Question:  If I work from home and my dog barks when the FedEx driver arrives; does she qualify as my receptionist – and can I write-off the cost of her dog food?  No? 

All in all, last year was a very good year for me and mine. How about you and yours?  I suppose it depends on how we measure “good”.  Filing income taxes forces us to look at our W-2; 401k; bank statements; along with our mortgage interest; real estate taxes; and all of those numbers the IRS wants us to report.  That’s one way to measure “good” (or some years, not so good). 

When we look in the mirror, often much of our financial pains are self-inflicted: 

More and more these days I find myself pondering on how to reconcile my net income with my gross habits. 

John Kirk Nelson 

We heard growing up that money isn’t everything.  Do we have the same perspective as adults?  Hopefully so.  Our income, even when reduced by taxes, can still be more than enough for folks that are easily contented.  Unfortunately, the itch of discontent sometimes influences us to spend more than our means, yes? 

During these times of computations (and consumption), it’s not what we make that counts; it’s what’s left over.  Years ago we called it “net worth”.  Today, “line of credit” seems to have replaced the importance of net worth.  Like our federal government, line of credit means “debt”; and debt is not the same as net worth.  Are we worried?  Maybe we should think like rich people think: 

If you owe the bank $100, that's your problem.  If you owe the bank $100 Million, that's the bank's problem. 

John Paul Getty 

We are looking forward to this year – it will be our best year ever!  We can control how we define “best” by following the guidance of the renowned author and poet, Robert Lewis Stevenson: 

Don’t judge each day by the harvest you reap, but by the seeds you plant.                                 

Oh, and no – the seeds are not deductible. 

GAP 

When life gets tough we could get a helmet… or… we could leverage the peace and share the power of a positive perspective.

Oh well…

Hey everyone – its income tax week!  Hooray! 

Actually, we’ve been given a Covid extension until May – but who’s counting?  (Other than the IRS!)  Do you think our elected officials are cheering on the sideline as our tax returns flow in?  Oh well.  

Does it ever seem to you that no matter how you complete your income tax return; no matter how much outside, expert advice you leverage; no matter what plans you put in place to lessen your tax impact next year, you still seem to be funding everything? 

On the one hand… 

I dislike the immense level of government spending that takes place today at the federal, state, county, city and even master association level.  The media reminds us of the tremendous waste that seems to occur every day; every way.  Today, with our anytime, anywhere, all-the-time, political action committees – they all have a position on the state of our federal, state, and local taxation, true?  Could it be some of our taxes are funding their messages?  Oh well. 

On the other hand… 

When there is a natural disaster; when we hear of a scientific breakthrough funded by a government grant; or when we simply have a friend or family member in need who receives financial or medical support from a social services program… well, I for one am happy I live in America. 

This time is one time during the year when we total it up.  Sometimes we like the resulting sum; other times we don’t.  Talk about “new math”! 

The Income Tax has made more liars out of the American people than golf has.

                        Will Rogers 

Question:  If I work from home and my dog barks when the FedEx driver arrives; does she qualify as my receptionist – and can I write-off the cost of her dog food?  No?  Oh well. 

All in all, when I reflect on my financial picture – I am blessed.  How about you?  I suppose it all depends.  Filing income taxes forces us to look at our W-2; our 401k; our IRA; our mortgage interest; our real estate taxes; and all of the other numbers the IRS wants us to look at; and report on.  That’s one way we measure; some years good - some, not so much.  

When we look in the mirror, often our not-so-much years are self-inflicted: 

More and more these days I find myself pondering on how to reconcile my net income with my gross habits.                               

John Kirk Nelson 

We heard growing up that, “Money isn’t everything”.  Does that perspective apply as adults?  Hopefully so.  Our top line income, even when reduced by taxes, still can be more than enough for a man that is easily contented.  Unfortunately, the itch of discontent rears its head all too often.  I mean, how many billions does it take to content our billionaires?  

Nevertheless, it’s not what we make that counts; it’s what we save.  Today, “line of credit” seems to have replaced the importance of savings.  Like our federal government, line of credit means “debt”.  Unlike the Fed, we can’t just print money.  Oh well. 

We are looking forward to 2021 – this will be our best year ever!  We can stay in control of how we define “best” by following the guidance of the world-renowned author and poet, Robert Lewis Stevenson: 

Don’t judge each day by the harvest you reap, but by the seeds you plant.                                

And no – the seeds are not tax deductible.  Oh well. 

GAP 

When life gets tough we could get a helmet… or… we could leverage the peace and share the power of a positive perspective.