FACT: Tax Breaks are NOT Subsidies!

[Mr. H.]

I disagree with the OP. A tax break is a subsidy in that it does not treat all taxpayers equally. By providing a tax break to one taxpayer, a burden is shifted to another.

The fairest thing to do is a flat tax on all tax payers - same rate for everyone.

Period.

Agree 100% on the flat tax.

And in regards to tax breaks being unfair? I don't know if I'd say that.. It's already unfair that higher earners have a progressively higher percentage.

I understand the reason behind a flat tax..but again we are still taxing work and subsidizing non product behavior.
It is no wonder only 57% of the public work and earn a pay check.

We need to get rid of the income tax and all other taxes that are taken out of people's pay checks and institute a consumption tax. One rate across the board, no exemptions, no filing, and no evading.

The Fair Tax (HR 25)

Let's say you construct an apartment building and spend $1 million. You expect a person to declare that $1 million invested as taxable income?

 

[FA_Q2]

I disagree with the OP. A tax break is a subsidy in that it does not treat all taxpayers equally. By providing a tax break to one taxpayer, a burden is shifted to another.

The fairest thing to do is a flat tax on all tax payers - same rate for everyone.

Period.

Agree 100% on the flat tax.

And in regards to tax breaks being unfair? I don't know if I'd say that.. It's already unfair that higher earners have a progressively higher percentage.

I understand the reason behind a flat tax..but again we are still taxing work and subsidizing non product behavior.
It is no wonder only 57% of the public work and earn a pay check.

We need to get rid of the income tax and all other taxes that are taken out of people's pay checks and institute a consumption tax. One rate across the board, no exemptions, no filing, and no evading.

The Fair Tax (HR 25)

As already pointed out, such a tax is incredibly regressive as it hits the poor far harder than the rich who do not spend a large portion of their income.

 

[NYcarbineer]

Progressive tax rates tax everyone the same. Whatever you earn in any given bracket, you are taxed on the rate of that bracket the same as everyone else who has earnings in that bracket.

 

[Dubya]

I thought this was common knowledge but apparently it's not. Hopefully this thread will finally put this misconception to rest.

Subsidize - to aid or promote (as a private enterprise) with public money; to purchase the assistance of by payment of a subsidy .

Subsidize - Definition and More from the Free Merriam-Webster Dictionary

Subsidy - a grant or gift of money.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

As you can see, a tax break could not possibly classify as a subsidy. A tax break is not a gift, nor is it financial assistance; it's simply allowing a person or corporation to keep more of the money that is already theirs.

Here's another great example of why tax breaks are nowhere near being considered subsidies.

The Difference Between a Tax Break and a Subsidy - Reason.com

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

Yet another $1 billion comes from tax rules that let oil companies treat oil in the ground as capital equipment for write-down purposes, and the rest comes from rules that let oil companies write off certain business costs immediately.

I haven't heard that shit since the Fartosaurus became extinct.

 

[akelch]

I thought this was common knowledge but apparently it's not. Hopefully this thread will finally put this misconception to rest.

Subsidize - to aid or promote (as a private enterprise) with public money; to purchase the assistance of by payment of a subsidy .

Subsidize - Definition and More from the Free Merriam-Webster Dictionary

Subsidy - a grant or gift of money.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

As you can see, a tax break could not possibly classify as a subsidy. A tax break is not a gift, nor is it financial assistance; it's simply allowing a person or corporation to keep more of the money that is already theirs.

Here's another great example of why tax breaks are nowhere near being considered subsidies.

The Difference Between a Tax Break and a Subsidy - Reason.com

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

Yet another $1 billion comes from tax rules that let oil companies treat oil in the ground as capital equipment for write-down purposes, and the rest comes from rules that let oil companies write off certain business costs immediately.

Nope ... They are exemptions.....which is another can of worms.

 

[hazlnut]

I thought this was common knowledge but apparently it's not. Hopefully this thread will finally put this misconception to rest.

Dumbfuck, it's not a misconception.

Fuck another retarded thread by tooAlive, the dumbest twit around here.

 

[Mr. H.]

I thought this was common knowledge but apparently it's not. Hopefully this thread will finally put this misconception to rest.

Dumbfuck, it's not a misconception.

Fuck another retarded thread by tooAlive, the dumbest twit around here.

67 replies in this thread, and THIS is your contribution?

 

[tooAlive]

Progressive tax rates tax everyone the same. Whatever you earn in any given bracket, you are taxed on the rate of that bracket the same as everyone else who has earnings in that bracket.

Simple math would say you're wrong.

Those that earn more will inevitably pay a higher effective tax rate with a progressive taxation system. So no, progressive tax rates don't tax everyone the same.