Tax loopholes
As I listen to and read about the debt problem that the leaders of the country are trying to solve. I see a lot of misinformation and hear things said that if education where ever it is obtained could remove from the airways or conversations. Cutting loopholes does not increase revenue it just recognizes it, loopholes are just spending in the tax code so cutting loopholes is just cutting spending not finding new revenue, or creating new revenue when moving something from one side of the ledger and moving it to the other you just change the sign.
However, you can’t call something one thing today and something else tomorrow. This may be a matter of semantics but most discussions politic are and we have wordsmiths working hard at crafting sound bites that sound like truth. I listen to discussions of taxes and I doubt that many really understand how progressive income tax works or is supposed to work that seems to include many of our elected leaders. We all should pay the same amount of tax at each level of taxation and we all that are in the next bracket pay the same and so on until we reach the top bracket. If we figured in capital gains and taxed them the same way we taxed other income that we sweat for that would take care of the tax problem that we have. If we eliminated tax loopholes which are really welfare for the more fortunate among us that, would take things to a surplus I believe these actions might have unintended consequences. These would stir the pot, I personally be- lieve that the capital gains tax puts a monetary value on human life and it is very low.
Jesse Nix
Emily
Comments (9)
Add commentThere's a reason why giving
There's a reason why giving tax breaks to the wealthy is considered a cost and that's because they don't produce enough jobs to pay for the loss in revenue.
Really Fish,
So how many jobs have you created with your high taxes?
Loopy
Talk about loopy. It's not easy to follow his line of thinking, connecting the dots if you will.
I did get that he doesn't understand that the funds that are
invested and thus may/may not earn additional capital are
funds that have been taxed at the earners appropriate tax
rate,
Fish
You're saying the the wealth that the high income people have earned is really not theirs, it is the governments?
Like it or not the tax code
Like it or not the tax code redistributes wealth and for the past 3-4 decades it's been skewed to redistribute the nations wealth to the wealthy and out of pockets of the working class who would have put it back into the economy where it would be spent and re-spent creating jobs and taxes in the process.
Instead it went into tax shelters and was sequestered away from the economy.
If job creation is the goal you need to create demand and taking money away from the people who spend the highest percentage of their income does the opposite.
Your meds
are off again.
Dubya has signed up for another speaking gig in Cayman Islands
Everybody has a chance now to learn how to shelter your holdings off shore and protect your resources for all those future generations ..
The four day all inclusive in depth tropical seminar is only
$ 5,000 US dollars and is tax deductable for most.
Airfare & greens fees included with this life changing package you wont want to miss the second time around.
The speaking gig
was Nov. 2, 2012 according to NBC and Salon.
President Bush was to "offer his thoughts on 8 years in the
Oval Office, the challenges facing our nation in the 21st
century, the power of freedom and the role of faith".
He was there for his speech. The whole conference was for
four days for a cost of $4000. I didn't see the tax deductible part. If airfare and green fees included, not so bad.