That’s right. Income from a conceptual point of view is a positive change in wealth year over year. Income to a CFO or tax accountant is a whole different subject. Any discussions of tax policy that fail to address the definition of income are generally partisan bullshit.

That’s how you can tell if someone is full of shit, BTW. When they talk about income taxes being unfair but don’t talk about definitions of income.

Republicans used to be, but are not anymore, the party of conservatism and fiscal responsibility. Saying “Democrats are tax-n-spend socialists” is pretty much a joke now.

Want to blame ‘Wall Street’ or ‘Washington’? That would be okay. I agree. Think it’s a party issue? Democrats are going to steal your money, and republicans are for small government and fiscal sensibility? That’s a joke.