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Old 08-14-2017, 08:13 PM
 
Location: Paranoid State
12,693 posts, read 9,460,731 times
Reputation: 14953

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Quote:
Originally Posted by Pub-911 View Post
People who cannot see beyond narrow self-interest should not participate in public decision-making.
Well, there we have it. Moses has come down from the mountain bearing clay tablets with The Word. I guess we can pretty much close all threads.

Where's Adam Smith's Invisible Hand when you need it? Hopefully holding a 9mm.
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Old 08-14-2017, 09:10 PM
 
2,621 posts, read 2,032,916 times
Reputation: 4776
The article I read said they wanted to double the standard deduction. If they doubled it, IMO, most people who itemize would make out better taking the new doubled standard deduction. I have done a lot of taxes for your basic two wage home owner and most don't come anywhere near the standard deduction doubled when itemizing.

Something like this would just be more wealth redistribution.
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Old 08-14-2017, 09:15 PM
 
Location: Texas
42,283 posts, read 49,847,621 times
Reputation: 67141
Itemizing deductions is one thing I have that keeps my tax burden down to only a moderately detestable level. I have no mortgage and I'm phased out of child deductions. I don't believe in deducting contributions to charity because I feel it goes against the spirit of what I'm doing. That being said, property tax, sales tax, mileage, various business deductions...those things really add up past the standard for me (just my property tax is $15k).
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Old 08-14-2017, 09:21 PM
 
311 posts, read 536,122 times
Reputation: 386
I support eliminating mortgage interest and charitable donations deductions.
Tax the churches too, or convert them to 501c.
There should be a property tax deduction, double taxation is dumb.
Eliminate FICA cap and lower the corporate tax to 15% while they're at it.
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Old 08-14-2017, 09:27 PM
 
Location: Raleigh
8,008 posts, read 5,309,613 times
Reputation: 9647
The Complexity of the tax code comes from the desire of government to influence the fiscal behavior of the citizenry.
It has nothing to do with life, liberty, and the pursuit of happiness. It does not help achieve a more perfect union. so all the deductions should not be in place.
Given that, it is still complex to define income. Is money spent in pursuit of more income to be left out of our calculations of taxable income? There are thousands of examples of this complexity.
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Old 08-14-2017, 09:41 PM
 
Location: Raleigh
8,008 posts, read 5,309,613 times
Reputation: 9647
Quote:
Originally Posted by Merkin View Post
<>There should be a property tax deduction, double taxation is dumb.
<>
Corporate taxation IS double taxation. Taxed once when the company earns it, taxed again when you receive dividends.
Oh, and make that TRIPLE, because it is taxed again when you spend it.
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Old 08-15-2017, 07:19 AM
 
4,229 posts, read 1,911,784 times
Reputation: 3787
Quote:
Originally Posted by SportyandMisty View Post
... according to the Will of the Protektorat. Funny how, despite yielding incredible social benefits, government bureaucrats don't just stop wasting the oxygen in the atmosphere. I guess they put what is personally beneficial to them above the social good.
It's always fun to hear reports from the far side. In the real world of course, there are many who are able to put their personal interests aside and consider social and other broader interests instead. This may be especially true among the public service professionals you are so consistently and mysteriously driven to berate and despise.
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Old 08-15-2017, 07:24 AM
 
4,229 posts, read 1,911,784 times
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Quote:
Originally Posted by SportyandMisty View Post
Well, there we have it. Moses has come down from the mountain bearing clay tablets with The Word. I guess we can pretty much close all threads. Where's Adam Smith's Invisible Hand when you need it? Hopefully holding a 9mm.
You were doing better when whining over the long list of charities that throw 91% of revenue into compensation.
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Old 08-15-2017, 07:32 AM
 
4,229 posts, read 1,911,784 times
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Quote:
Originally Posted by Merkin View Post
Tax the churches too, or convert them to 501c.
Most churches and other houses of worship are already under 501(c)(3). All that is required for such tax-exempt status is that the particular religious beliefs of the organization are truly and sincerely held, and that the practices and rituals associated with the organization's religious belief or creed are not illegal or contrary to clearly defined public policy.
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Old 08-15-2017, 07:41 AM
 
4,229 posts, read 1,911,784 times
Reputation: 3787
Quote:
Originally Posted by Crashj007 View Post
Corporate taxation IS double taxation. Taxed once when the company earns it, taxed again when you receive dividends. Oh, and make that TRIPLE, because it is taxed again when you spend it.
All of which should have been enough to suggest that smoke and mirrors about "double taxation" somehow being off limits is nothing but a bunch of bunk. There is nothing in law or economics to prohibit taxing the same funds multiple times. All of that comes form some right-wing Never Never Land of tax-evading wishful thinking.
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