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Yes, but I'd say when 1/2 the nation pays an average of $.01 a year in total income taxes, that isnt enough.. I know, I hate the poor.. everyone knows that..
But I also support removing deductions so people like me, who gross somewhere in the neighborhood of 8 figures, (thats gross, not net), has less incentive to make sure their businesses have a negative net profit a year, thus reducing my tax liability to $0 as well. I make lots of effort to make sure my businesses lose money every year so I dont have to pay taxes.
We need to broaden the tax base, not raise the rates, and that goes along all income segments.
Better hope the IRS doesn't conduct a "lifestyle audit." They may wonder how you support yourself if your business is always running a loss. Also, part of your business could be characterized as a passive activity or hobby.
I do not support raising income taxes on low income individuals because such individuals do not make enough money to pay for basic necessities much less additional taxes. The theory of reducing marginal utility is very relevant when discussing tax policy. One dollar means something to someone making 14k a year, but not very much to someone making 14 million.
As far as deductions, I do support reducing or eliminating deductions such as mortgage interest, state and local tax, and, possibly, charitable. I do think the unreimbursed employee expense deduction, however, should be expanded such that it is treated the same as business expenses (no need to itemize to deduct and not limited to the extent it exceeds 2% of Adjusted gross income). I think business expense should be deductible, though there should be more limits on things like executive compensation (deductibility should be capped at 15 times the average worker's salary) and costs associated with outsourcing jobs.
I wonder are you incorporated? Keep in mind, incorporation is a privilege granted by the state and without that "gift" it would be much more risky to run a business and more difficult to access capital.
For example, how many of you celebrate Obamacare, which costs an estimated $1.3T
Someone has to pay for it after all and the only choice for businesses is to raise costs, and cut peoples pay and benefits.. You celebrated this if I recall, while now moaning about the results, almost as if its a mystery as to whats taking place..
They shouted down companies that tried to warn them. Now they get to enjoy the results of their ignorance. This is what happens when people trust a politician. They will pay dearly for it now.
What programs perpetuate poverty and make people poor?
Any program that makes individuals rely upon the federal government for their livelyhood. I've never ONCE heard of a welfare program that didnt result in the recipiants being poor, nor neighborhoods where a high number of recipiants on welfare living in neighborhoods with appreciating values, have you?
And before you tell me that Democrats dont support increasing welfare programs, you guys called increased food stamps an economic stimulus in order to pass programs making more people rely upon government..
And now its shocking that we have record number of individuals on welfare.. Yeah, shocking I tell you..
After reading all the posts here is the tally for moonbats defending their dear leader. It appears that they lean very heavily toward blaming or justifying his behavior because "someone else..". They also lean toward deflection a lot.. let's bring up something not related directly to the question to move onto a different subject. There were the 3 moonbats whose posts were so totally clueless they probably shouldn't be allowed to vote..
Deflection 6
Someone Else…. 15
Clueless Totally Clueless 3
As far as I am concerned he did it because he could. The reason he could was because he fooled the low intelligence voters into thinking that Romney someone who did exactly what Obama is doing with his money now. They bought it hook line and sinker and put the moron in the whitehouse for 4 more miserable years.
Point is Dear Leader has money in off shore accounts just like the big corporations he is in bed with. Just like Facebook who got a 500 million dollar refund AFTER on top of that the major shareholders got away with not paying millions in taxes on earnings from the shares they sold.
If you are really honest with yourself. Dear Leader is doing EXACTLY what he accused Romney of doing. EXACTLY the same thing and their is not a damn thing he is going to do to change it..
Better hope the IRS doesn't conduct a "lifestyle audit." They may wonder how you support yourself if your business is always running a loss. Also, part of your business could be characterized as a passive activity or hobby.
I do not support raising income taxes on low income individuals because such individuals do not make enough money to pay for basic necessities much less additional taxes. The theory of reducing marginal utility is very relevant when discussing tax policy. One dollar means something to someone making 14k a year, but not very much to someone making 14 million.
As far as deductions, I do support reducing or eliminating deductions such as mortgage interest, state and local tax, and, possibly, charitable. I do think the unreimbursed employee expense deduction, however, should be expanded such that it is treated the same as business expenses (no need to itemize to deduct and not limited to the extent it exceeds 2% of Adjusted gross income). I think business expense should be deductible, though there should be more limits on things like executive compensation (deductibility should be capped at 15 times the average worker's salary) and costs associated with outsourcing jobs.
I wonder are you incorporated? Keep in mind, incorporation is a privilege granted by the state and without that "gift" it would be much more risky to run a business and more difficult to access capital.
Been audited numerous times.. I live off borrowed money, and borrowed money isnt taxed.. One of those loopholes "rich" people can take advanage of.
Any program that makes individuals rely upon the federal government for their livelyhood. I've never ONCE heard of a welfare program that didnt result in the recipiants being poor, nor neighborhoods where a high number of recipiants on welfare living in neighborhoods with appreciating values, have you?
And before you tell me that Democrats dont support increasing welfare programs, you guys called increased food stamps an economic stimulus in order to pass programs making more people rely upon government..
And now its shocking that we have record number of individuals on welfare.. Yeah, shocking I tell you..
How is that Medicaid working out for your live in girlfriend who has Crohns disease? Are you saving $$ by not marrying her and allowing her medical care to be covered by us tax payers?
I hated Romneycare as well but Romneycare was a STATE program, and didnt cost the taxpayers ****.
So who paid for Romneycare? The tooth fairy??
For someone who hates Romneycare you sure defend it.
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