Deficit shrinking faster than any time since WWII

[Toronado3800]

Tax deductions are there to encourage folks to do positive things for the economy.

Not saying the language could not be improved upon but ya got me why other people need tax professionals. Probably because high school and college degrees are too easy to get or folks are lazy.

 

[akelch]

Tax deductions are there to encourage folks to do positive things for the economy.

Not saying the language could not be improved upon but ya got me why other people need tax professionals. Probably because high school and college degrees are too easy to get or folks are lazy.

Sarcasm? 😊

 

[Toronado3800]

Tax deductions are there to encourage folks to do positive things for the economy.

Not saying the language could not be improved upon but ya got me why other people need tax professionals. Probably because high school and college degrees are too easy to get or folks are lazy.

Sarcasm? 😊

For a change, no sarcasm.

Now I don't have off shore accounts but between the various family members and myself, I have to and do all the common 1040 lines. Different years I can get close on medical deductions and all also.

I go my college degree w/o the usual experience in taking on massive amounts of debt but the classes we generally to easy to be worth the money.

I'll find my usual sarcasm again next post. Don't worry.

 

[akelch]

Tax deductions are there to encourage folks to do positive things for the economy.

Not saying the language could not be improved upon but ya got me why other people need tax professionals. Probably because high school and college degrees are too easy to get or folks are lazy.

Sarcasm? 😊

For a change, no sarcasm.

Now I don't have off shore accounts but between the various family members and myself, I have to and do all the common 1040 lines. Different years I can get close on medical deductions and all also.

I go my college degree w/o the usual experience in taking on massive amounts of debt but the classes we generally to easy to be worth the money.

I'll find my usual sarcasm again next post. Don't worry.

So you are serious when you say "Tax deductions are there to encourage folks to do positive things for the economy."?

 

[Toronado3800]

Yes. Obviously. There are dumb deductions I am sure but mine generally are:

Tax break for retirement investment

Tax break for home mortgage (owning one stabilizes neighborhoods)

Tax break for student loan costs -soften the penalty for getting an education

Tax break for making little Americans

Tax break for child care while at work to keep America productive

That type of thing.

 

[akelch]

I understand....but you would agree that the economy paying billions every year just to comply with the blotted tax code is counterintuitive?

 

[Toronado3800]

I understand....but you would agree that the economy paying billions every year just to comply with the blotted tax code is counterintuitive?

I agree the tax code is more complicated than need be. It would do Congress well to simplify it to the point 90% of them can do their own taxes. Then half the general population SHOULD be able to figure out theirs.

Really I am not impressed by the "need" for tax professionals to complete 1040s for folks though.

Sorry I am not more understanding I guess.

 

[EdwardBaiamonte]

Tax deductions are there to encourage folks to do positive things for the economy.

too stupid and liberal!!! Like moving their businesses offshore, hiding their money in tax shelters, and not hiring full time workers. Its liberalism at its most disgusting.

 

[EdwardBaiamonte]

I understand....but you would agree that the economy paying billions every year just to comply with the blotted tax code is counterintuitive?

paying billions is only a tiny part of the waste. The real waste is when companies move businesses off shore, and from state to state, and when they make all kinds of decisions based on tax implications that have nothing to do with economic efficiency. Its bad enough our wages are high but why layer after layer of tax issues to compound the problem.

Liberals do it all because they lack the IQ to know the tax is passed on to consumers and so should be eliminated altogether so that consumers get an idea of the true cost of government.

 

[Toronado3800]

Tax deductions are there to encourage folks to do positive things for the economy.

too stupid and liberal!!! Like moving their businesses offshore, hiding their money in tax shelters, and not hiring full time workers. Its liberalism at its most disgusting.

Edward, settle down buddy.

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

Edward, honest, just like Al Gore can annoy ppl so bad they are against whatever he is speaking in favor of, you can drive folks towards supporting any opposing view.

 

[EdwardBaiamonte]

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

To stupid and 100% liberal!!! Yes dear, Romney, and Barry's new crony uber hypocrite friend from Costco, and every American take advantage of every deduction they know about, but this does not make it a sensible tax code, it makes it a liberal tax code!!! How could that be over your head???????????

 

[Toronado3800]

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

To stupid and 100% liberal!!! Yes dear, Romney, and Barry's new crony uber hypocrite friend from Costco, and every American take advantage of every deduction they know about, but this does not make it a sensible tax code, it makes it a liberal tax code!!! How could that be over your head???????????

Continue Edward. You are costing Republicans votes by sounding so crazy.

 

[EdwardBaiamonte]

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

To stupid and 100% liberal!!! Yes dear, Romney, and Barry's new crony uber hypocrite friend from Costco, and every American take advantage of every deduction they know about, but this does not make it a sensible tax code, it makes it a liberal tax code!!! How could that be over your head???????????

Continue Edward. You are costing Republicans votes by sounding so crazy.

liberal reduced to personal attack because he lacks the IQ for substance

 

[Toronado3800]

To stupid and 100% liberal!!! Yes dear, Romney, and Barry's new crony uber hypocrite friend from Costco, and every American take advantage of every deduction they know about, but this does not make it a sensible tax code, it makes it a liberal tax code!!! How could that be over your head???????????

Continue Edward. You are costing Republicans votes by sounding so crazy.

liberal reduced to personal attack because he lacks the IQ for substance

Edward, most of the time I don't even know what you are saying libturd about.

This time you are saying the tax cuts for moving businesses overseas, which were created to fight the spread of socialism after the great wars, are a liberal idea you are against?

 

[akelch]

Tax deductions are there to encourage folks to do positive things for the economy.

too stupid and liberal!!! Like moving their businesses offshore, hiding their money in tax shelters, and not hiring full time workers. Its liberalism at its most disgusting.

Edward, settle down buddy.

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

Edward, honest, just like Al Gore can annoy ppl so bad they are against whatever he is speaking in favor of, you can drive folks towards supporting any opposing view.

I have said this before in other post so forgive me if I sound redundant...but I really can't see how political and economic savvy people of this nation continue to try and fix a broken system like our tax code. It has been a political football since 1913. Honestly...does anyone really believe that the best way to tax the public and do the least amount of economic harm is a progress individual income tax? Especially one with 70,000 + pages.

Even the Flat Tax is the same horse just without the exemptions. Businesses will continue to make business decisions based on their individual tax obligation. Though I agree it would be better...but really what can be worst then what we have now?

 

[bigrebnc1775]

From the OP's link: "In fact, outside of that post-WWII era, the only time the deficit has fallen faster was when the economy relapsed in 1937, turning the Great Depression into a decade-long affair."

So does this mean we are in a depression?

 

[Rshermr]

too stupid and liberal!!! Like moving their businesses offshore, hiding their money in tax shelters, and not hiring full time workers. Its liberalism at its most disgusting.

Edward, settle down buddy.

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

Edward, honest, just like Al Gore can annoy ppl so bad they are against whatever he is speaking in favor of, you can drive folks towards supporting any opposing view.

I have said this before in other post so forgive me if I sound redundant...but I really can't see how political and economic savvy people of this nation continue to try and fix a broken system like our tax code. It has been a political football since 1913. Honestly...does anyone really believe that the best way to tax the public and do the least amount of economic harm is a progress individual income tax? Especially one with 70,000 + pages.

Even the Flat Tax is the same horse just without the exemptions. Businesses will continue to make business decisions based on their individual tax obligation. Though I agree it would be better...but really what can be worst then what we have now?

The base problem is that there is a lot of money in politics. So, those that want provisions in the tax code simply lobby for it. A half million here, a million there, and pretty soon you have a new bill approved, and a whole advertising campaign created to justify the new changes. Will always, always be the same until we find a way to take the money out of politics. Eliminating the provisions of the Citizens United decision of 3 years ago would be a good start. But more is needed.

 

[Rshermr]

One solution:
HR 25 (The Fair Tax)
Ready and waiting to be voted on.

So, here is an analysis by
"Factcheck.org of the Fair Tax. This analysis was done in 2007.
In our recent article on the second GOP debate, we called out Gov. Mike Huckabee as well as Reps. Tom Tancredo and Duncan Hunter for their support of the FairTax. We wrote that the bipartisan Advisory Panel on Tax Reform had “calculated that a sales tax would have to be set at 34 percent of retail sales prices to bring in the same revenue as the taxes it would replace, meaning that an automobile with a retail price of $10,000 would cost $13,400 including the new sales tax.” A number of readers pointed out that H.R. 25, the specific bill mentioned by Gov. Huckabee, calls for a 23 percent retail sales tax and not the 34 percent used by the Advisory Panel on Tax Reform. That 23 percent number, however, is misleading and based on some extremely optimistic assumptions. We found that while there are several good economic arguments for the FairTax, unless you earn more than $200,000 per year, fairness is not one of them."
FactCheck.org: Unspinning the FairTax
there is a full analysis of the Fair Tax in this Article.
So, what is the likelihood of passage. Probably really poor. Even the AFT, who is the group pushing this tax, admit that those making from $40K to $150K will pay more. Only those making over $200K, or under something like $24K, would see any benefit. Primarily, however, the benefit is to the wealthy.

I have read it too and they are wrong.. They calculated the Fair Tax as a exclusive tax instead of a inclusive tax as it is written.
If they want to be fair, they should calculate the income tax the same way.

The AFT has set them straight on this.... but they left that out of their analysis. Plus it is funny how they quote them to help support their point of view but leave out the things they don't agree with.

Maybe you should re read the article. Because they did, and they did.

So, you are saying that the fact check folks should believe the stuff put out by the organization that WROTE the fair tax? Ever here of a fox in the hen house.

Read the analysis. The full AFT response is there, and the response to that is also there.
But you must ACTUALLY read it. Let me know if you would like me to copy and paste the actual things you say are not there. I just expected that anyone could read and understand it. And that they would not approach the article with an agenda.

 

[Rocko]

My personal opinion is the tax cuts raised the deficit and marginally helped the economy. Same theory as the slow stimulus. The construction company next to us is STILL installing solar panels.

In this world of percentages I am always wondering if the xxxx lowered unemployment by x.x% and then what percentage of my taxes are going to pay the Reagan debt.

They didn't help the economy at all, quite the opposite. They created a housing bubble.

Tax cuts caused the housing bubble. Where do you get this shit from, man?

 

[akelch]

Edward, settle down buddy.

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

Edward, honest, just like Al Gore can annoy ppl so bad they are against whatever he is speaking in favor of, you can drive folks towards supporting any opposing view.

I have said this before in other post so forgive me if I sound redundant...but I really can't see how political and economic savvy people of this nation continue to try and fix a broken system like our tax code. It has been a political football since 1913. Honestly...does anyone really believe that the best way to tax the public and do the least amount of economic harm is a progress individual income tax? Especially one with 70,000 + pages.

Even the Flat Tax is the same horse just without the exemptions. Businesses will continue to make business decisions based on their individual tax obligation. Though I agree it would be better...but really what can be worst then what we have now?

The base problem is that there is a lot of money in politics. So, those that want provisions in the tax code simply lobby for it. A half million here, a million there, and pretty soon you have a new bill approved, and a whole advertising campaign created to justify the new changes. Will always, always be the same until we find a way to take the money out of politics. Eliminating the provisions of the Citizens United decision of 3 years ago would be a good start. But more is needed.

Exactly....so why are we spending our time talking about changing the current tax system that favors this corruption? Why not spend our energy pushing to change the tax code to one that promotes the idea for less government power in manipulate the tax system for political favors. Plus, remove the hurdle business have making decisions base on the tax code.