Quote:
Originally posted by sailor
Neither of those are the types of loopholes that I am referring to, and you know it. There is a huge difference between a tax incentive and a tax loophole. An incentive is like what you said--a state, or county, or city providing a tax break to a factory that will provide jobs and boost the economy. I dont have a problem with that. It is better for the economy, and in the long run, brings in more money than is lost.
What I do have a problem with is, say, saying that hog farmers now have to pay lower taxes than, say, beef ranchers. *That* is a tax loophole put into place through special interest groups. Or getting out of paying taxes on profits made by foreign workers by claiming they were "foreign profits."
Furthermore, reporting your $50,000 profit isnt a tax loophole--its simple economics. Your profit was $50,000, the guy with a $100,000 salary had $100,000 in profit. Both should be, and are taxed accordingly.
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Tell ya what, I need to do more research on corporate taxes and incentives before I comment on them. So I have to stick with personal and small business. And I was referring to someone telling me that it was wrong that I was able to write off most of my earnings and not paying taxes on them. maybe the word loophole was not used then, but I know what his point was. But as for the hog farmers getting tax breaks the beef farmers do not get, I have to say how long has that been going on? I mean is all corporate incentives a product of republicans?
I do know that the top 10% erners and corporations pay 80% of the taxes, so I have to say the middle class is getting a pretty fair shake.
Another question I have is why the liberals are trying to create division by getting the poor mad at the rich. They play to peoples emotions to get votes but more often then not they are not the "people's kinda man" that they make themselves out to be.