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I hope Obama does a major expansion of the IRS to go after tax cheats. I recall Ross Perot pointing out in 1992 that we lose $100B per year just to the cheats. Everyone should be audited at least once every 3-4 years.
America already has the most militant tax bureaucracy of any civilized country, and you want MORE audits on the poor and minority groups (EIC fraud, etc?)
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Do away too with sham business deductions, like the "company" RV or Boat used to "entertain" clients. What crap.
Guess those RV and boat companies can move their facilities to China and sell to the richer citizens there.
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Do away with the tax deduction for home interest, it's an artificial means to crank up home sales for our "wonderful" banking industry.
Do away with the ethanol subsidy, the oil depletion allowance, and tons of other loopholes.
Granted on ethanol and home interest deduction. Those are micromanaging behaviors.
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I guess it takes a Democrat to practice fiscal conservatism and common sense.
So, a massive expansion of a bureaucracy is fiscal conservatism?
I hope Obama does a major expansion of the IRS to go after tax cheats. I recall Ross Perot pointing out in 1992 that we lose $100B per year just to the cheats. Everyone should be audited at least once every 3-4 years.
Do away too with sham business deductions, like the "company" RV or Boat used to "entertain" clients. What crap.
Do away with the tax deduction for home interest, it's an artificial means to crank up home sales for our "wonderful" banking industry.
Do away with the ethanol subsidy, the oil depletion allowance, and tons of other loopholes.
I guess it takes a Democrat to practice fiscal conservatism and common sense.
Never knew the left went so farrrrrrr that way . Yep... lets spend $500 billion for audits of everyone that will recover less than half that... good thinking . The Gov can just print the money difference for the shortfall that's all...
I agree with Mike. In fact I would like to replace the entire tax structure with an all income from all sources, including overseas investment and bank interest, progressive income tax with an 85th percentile deduction. let the burden of running the country fall on the people that own it.
In 1970, 1% of our population owned 8% of the country.
in 2009, 1% of our population owned 23% of the country.
Now we can see where safe bridges, highway maintenance, health care, mass transit and many other duties of government have gone ... into the pockets of the un-deserving wealthy via tax cuts for people who never needed them.
Time for a change. We elected someone to get change, now we need to make it happen.
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By Scott Wilson
Washington Post Staff Writer
Monday, May 4, 2009; 1:16 PM
President Obama announced today a series of measures to shut down offshore tax havens and end provisions that U.S. companies have used to underreport overseas profits, steps he said would provide a financial boon to the U.S. treasury.
In 1970, 1% of our population owned 8% of the country.
in 2009, 1% of our population owned 23% of the country.
Now we can see where safe bridges, highway maintenance, health care, mass transit and many other duties of government have gone ... into the pockets of the un-deserving wealthy via tax cuts for people who never needed them.
Time for a change. We elected someone to get change, now we need to make it happen.
Your going to see change alright, just not what you expected.
Time for a change. We elected someone to get change, now we need to make it happen.
Only change we are gonna see is a county in bankruptcy ! That is exactly where this country is headed. No amount of tax haven closures and exposures is going to recover the payments necessary to bring us out of the depths of spending the Gov is currently doing !
Enjoy the change... Your kids, grandkids and countless generations beyond them will that's for sure !
Only change we are gonna see is a county in bankruptcy ! That is exactly where this country is headed. No amount of tax haven closures and exposures is going to recover the payments necessary to bring us out of the depths of spending the Gov is currently doing !
Enjoy the change... Your kids, grandkids and countless generations beyond them will that's for sure !
They can see it coming. That is why they are panicking; looking for tax revenue any way they can get it.
All institutions, government and private, look to increase revenue. That's normal, not "panicking."
In context though- Is this the right time to be punishing business with higher taxes? How is that going to enable economic recovery?
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. Yep... lets spend $500 billion for audits of everyone that will recover less than half that... good thinking 
. The Gov can just print the money difference for the shortfall that's all... 
