Closing Loopholes Would Allow Only a 4% Tax Rate Reduction

Discussion in 'Politics' started by courseofhistory, Oct 13, 2012.

  1. courseofhistory
    Offline

    courseofhistory BANNED

    Joined:
    Aug 7, 2012
    Messages:
    1,230
    Thanks Received:
    179
    Trophy Points:
    0
    Ratings:
    +181
    If you currently have a mortage, beprepared to lose that deduction if Romney is elected. If you deduct for charitable contributes, gone and the same with deductions for state and local taxes. Of course, wealthy people don't really need these deductions but WE do. Again, shaft the middle classe!

    ELECTORAL COLLEGE MAP AT LINK ALSO (290 O 239 R)

    Closing Loopholes Would Allow Only a 4% Tax Rate Reduction

     
  2. Stephanie
    Offline

    Stephanie Diamond Member Supporting Member

    Joined:
    Jul 11, 2004
    Messages:
    70,236
    Thanks Received:
    10,818
    Trophy Points:
    2,040
    Ratings:
    +27,360
    Funny they weren't all up in arms when Obama was calling for this..
     
  3. Katzndogz
    Offline

    Katzndogz Diamond Member

    Joined:
    Sep 27, 2011
    Messages:
    65,659
    Thanks Received:
    7,418
    Trophy Points:
    1,830
    Ratings:
    +8,337
    That's because you don't understand the concept of means testing. If you need a mortgage deduction, it doesn't mean that someone making five million dollars a year does. Of course loopholes can be closed for the very wealthy and it doesn't affect the middle class. A HUGE loophole can be farm deductions. Many Hollywood actors have show farms just for the deductions they provide.

    If you really want a huge nonsense deduction, try looking at what an alpaca ranch provides. Raising alpacas is 95% tax deduction. A herd of Alpacas is four animals. Three females and one male is a foundational herd and there is a 95% tax deduction across the board. We can close that loophole without any problem at all.
     
  4. peach174
    Offline

    peach174 Gold Member Gold Supporting Member Supporting Member

    Joined:
    Apr 24, 2010
    Messages:
    20,647
    Thanks Received:
    4,066
    Trophy Points:
    290
    Location:
    S.E. AZ
    Ratings:
    +7,468
    How many times do Romney and Ryan keep having to say the elimination of deductions applies for the upper percent and not to the middle class.
    This is the whole idea behind it, reductions of taxes for small businesses and middle class so that they can grow. That brings in more revenue.
    The elimination of deductions would be for large corporations and the rich. It would make it so that GE would pay taxes again instead of zero. This is a good thing not a bad thing.
     
  5. Katzndogz
    Offline

    Katzndogz Diamond Member

    Joined:
    Sep 27, 2011
    Messages:
    65,659
    Thanks Received:
    7,418
    Trophy Points:
    1,830
    Ratings:
    +8,337
    GE donates to obama's campaign so it's okay.
     
  6. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,238
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,251
    Again, Democrats want to pretend there will be 0 Revenue Generated from New Economic Growth.

    Which is really funny when you consider that when they calculated how much Obama care was going to cost. They didn't forget to factor in extremely Optimistic Economic Growth Forecasts.

    Sorry but the Age in which Either side can use Bogus Numbers and False assessments and expect real success from it, is over.

    The Access to Information has changed things.
     

Share This Page