You all understand that these supposed “loopholes” were created and voted upon as

Discussion in 'Congress' started by Robert, Jul 20, 2011.

  1. Robert
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    Robert Really nice Guy

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    exemptions by both parties right? And that by attacking these supposed “Evil Loopholes” you’re going to have unattended consequences.

    Most of you twits that keep chirping about Loopholes have utterly no idea what the hell you’re talking about much less the ramifications of removing them. If you want to talk about specific loopholes feel free.
     
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  2. Conservative
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    Conservative Type 40

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    No no no... it was all the fault of the evil, baby eating, old person killing GOP! They did it!
     
  3. Claudette
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    Claudette Gold Member

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    Well I know the Jet Loophole was actually in Barry's stimulus package.

    Now all of a sudden its evil??

    Funny what a difference running for re-election makes.
     
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  4. whitehall
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    whitehall Gold Member

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    Politicians created the so-called "loopholes" to accomodate certain favored supporters and now they are shocked, I say shocked that other people take advantage of them. The dirty little secret is if you closed off every alleged tax loophole it would further stifle the economy and it wouldn't make a difference in the federal debt. Let's face it, many politicians run for office because they aren't smart enough to compete in the real world. There will always be "loopholes" in the immense tax structure because corporate CEO's and tax lawyers are smarter than the dummies who make the laws. The only realistic way we are going to make a dent in the national debt is to cut spending and trim the incredible bureaucracy the federal government has become.
     
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  5. Bern80
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    Bern80 Gold Member

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    The reason for getting rid of loopholes would be merely out of principle as a way to extricate business from government. Maybe we need to change seperation of church and state to seperation of corporation and state.
     
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  6. k2skier
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    k2skier Senior Member

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    "We", as the general public, don't vote on these "pork loopholes", we vote for congressmen who in turn vote for a bill with these "pork loopholes" in them...
     
  7. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    True, but we don't vote the bastards out when they do overspend. In the end it still comes back to us, we get the gov't we deserve.
     
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  8. martybegan
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    martybegan Gold Member

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    Its all about language. These are all tax deductions, or tax credits. However those terms do not sound negative at all. So you use instead:

    Subsidy: Used when you want to make it sound like the organization in question is actually getting money from the government to do something.

    Loophole: Makes it sound like the organziation in question is doing something sneaky to save the money.
     
  9. dblack
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    dblack Gold Member

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    Exactly. My opposition to all the monkey-business regarding loopholes (whatever you choose to call them - incentives, credits, mandates, abatements, etc..) is that they've become primarily a tool for power-hungry policitians to amplify their own influence. They use them to reward their supporters and punish their detractors. Worse yet, businesses and people who can successfully manipulate government use them to enhance their own fortunes at the expense of others.

    Frankly, I find it hypocritical in the extreme that the GOP is defending them. Especially given that the practice of using the tax code for social engineering is such a favored tactic of Democrats. I'd think Republicans would be totally in favor of getting rid of this kind of nonsense. What gives?
     
  10. martybegan
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    martybegan Gold Member

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    The issue republicans have is that if you eliminate tax deductions en masse, you really have to lower overall tax rates. Our current system is based on the idea that, while you have a legal rate of say 35% your effective rate is probably only 20% or so with deductions.

    If we just eliminated deductions without decreasing the de jure rate, you would end up with a massive tax increase, which would be a royal clusterfuck for the economy.
     

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