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Flat tax would be fine, if "essentials" are excluded for those who are living at a very low income level. . . .and as that cannot be accuratly determined, a progressive tax is more proper, and a still tax on "luxury" items will help to "balance" the wealthy "cheaters". . .(and I've worked for enough of them to KNOW that those who don't "cheat" are the exceptions, not the rule)
Instead of 47% of people not paying Federal taxes and super rich people hiding their money, would a flat tax be better? I'm not sure about the percentage I'm guessing 15 to 20% on anything we buy, but is it possible to include local and state taxes as well in that 15 to 20%. Rich people buy more expensive cars so obviously they would pay more taxes than the poor.
Last year BEFORE I bought this rig my deprecation credits were about $230,000.
Just because you don't know the rules I should be punished??
Read the tax code!!!!
lol It's not about you or me. I don't know where you got that from.
I don't know how to be more specific but I'll try.
If the people hired to know the tax laws inside and out don't know the tax laws themselves and because they don't know them, they therefore apply the laws unevenly. That means the system is unfair.
I think it is idiotic to have a law that encourages a business to purchase something they don't need. It would be foolish for a business to ignore any loopholes or tax law benefits. Putting in artificial measures in the short run undermines the free market system and leads to higher costs and inefficiency in the long run way too often.
lol It's not about you or me. I don't know where you got that from.
I don't know how to be more specific but I'll try.
If the people hired to know the tax laws inside and out don't know the tax laws themselves and because they don't know them, they therefore apply the laws unevenly. That means the system is unfair.
I think it is idiotic to have a law that encourages a business to purchase something they don't need. It would be foolish for a business to ignore any loopholes or tax law benefits. Putting in artificial measures in the short run undermines the free market system and leads to higher costs and inefficiency in the long run way too often.
It makes jobs.
If you ever get a chance, take an economic class. I think you would enjoy it.
Subsidizing something does not make it cheaper it makes it more expensive in the long run. It allows weaker, less inefficient companies to survive.
But then again the oil companies are doing poorly maybe they need more of a boost.
Subsidizing something does not make it cheaper it makes it more expensive in the long run. It allows weaker, less inefficient companies to survive.
But then again the oil companies are doing poorly maybe they need more of a boost.
If you ever get a chance, take an economic class. I think you would enjoy it.
did I hurt your feelings having to explain the IRS tax law thing again?
or was it the comment about oil needing tax breaks lol
I'll repeat myself, subsidizing something makes it costlier in the long run. You'd learn that BEFORE taking one day of an economics class if you were paying attention to the rising cost of that class. Couldn't be because of the government subsidized loans could it?
What makes your field so special YOU need propping up while other fields don't?
If most of the IRS is gone because of a flat or fair tax that itself puts more money in everyones pocket not just yours.
did I hurt your feelings having to explain the IRS tax law thing again?
or was it the comment about oil needing tax breaks lol
I'll repeat myself, subsidizing something makes it costlier in the long run. You'd learn that BEFORE taking one day of an economics class if you were paying attention to the rising cost of that class. Couldn't be because of the government subsidized loans could it?
What makes your field so special YOU need propping up while other fields don't?
If most of the IRS is gone because of a flat or fair tax that itself puts more money in everyones pocket not just yours.
Whoa....My field??? I drill water wells not oil wells.
I file a schedule C, just like I posted a few pages back.
I think the depreciation credits are only helpful to offset your profits so you get less taxes (or maybe move into a different tax bracket)... I am not sure how else it would be helpful... I do like the flat tax idea with a flat credit (for needed expenditures of typical middle income household) for everyone...
It is not just to offset expenses. If businesses could not deduct the cost of their employee's wages, for example, the government would be taxing both the business and the employee for the same amount that was paid. As an employer, I would have no choice but to increase the price of my services or products by the amount of extra taxes I would be required to pay without those deductions. It is also double taxation since the employee also has to pay taxes on those same wages.
Whoa....My field??? I drill water wells not oil wells.
I file a schedule C, just like I posted a few pages back.
Just like all other sole proprietor businesses.
Just how am I subsidized??? With my own money???
I always pay cash.
By getting the big tax break you are getting subsidized by the government while other businesses are not. The point I was trying to make is why help your business with a tax break like that and not others?
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