Using loopholes

#26
#26
lawgator1 said:
Correct.

He is the symbol of the imbalance and unfairness of tax laws in this country.
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Says you. But exactly why you want them released, so you can play to your base. A throng of knuckle dragging dumbasses that would do the same thing but since they are too broke to pay taxes they would just rather ***** and moan about some symbol.
 
#28
#28
Dumb question here - but couldn't it be argued that EIC, mortgage interest & dependent deductions are all "loopholes" since they enable a person to pay less tax?
 
#29
#29
tri_vol said:
Dumb question here - but couldn't it be argued that EIC, mortgage interest & dependent deductions are all "loopholes" since they enable a person to pay less tax?
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Hence the terminology problem. When you take a lawful reduction in your AGI, it's a "deduction". When somebody else does the same thing, it's a "loophole".
 
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#31
#31
GAVol said:
Hence the terminology problem. When you take a lawful reduction in your AGI, it's a "deduction". When somebody else does the same thing, it's a "loophole".
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Exactly. All the people complaining about loopholes should prepare their taxes and if they are due a refund then not file.

If you do that, then you'd have the right to complain about others using tax breaks & deductions.
 
#33
#33
Why have tax deductions or loopholes?

Why not set a simple rate that applies to all?
As an example I read an article a few weeks ago that in Canada something like 80% of all homeowners have their homes paid for.
The reason given was interest on home mortgages is not a tax deduction.

Deductions and or loopholes are a unnecessary evil, lower the rates and stop them.
 
#35
#35
PKT_VOL said:
Mind numbing hypocrites have a vote too.

In fact, it counts just as much as your vote does.
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Never said it didn't. Just pointing out the "reasoning" for even talking about this. Bad enough when poor ignorant people lap this up but it is plain sickening when you see a supposedly educated man like LG bark about it.
 
#36
#36
tri_vol said:
Dumb question here - but couldn't it be argued that EIC, mortgage interest & dependent deductions are all "loopholes" since they enable a person to pay less tax?
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Of course they are. And LG would claim you are the evil behind every one you take.
 
#37
#37
allvol123 said:
Never said it didn't. Just pointing out the "reasoning" for even talking about this. Bad enough when poor ignorant people lap this up but it is plain sickening when you see a supposedly educated man like LG bark about it.
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I think when he harps about it, he (like I) am talking about it from a campaign politics perspective. The American electorate is borderline retarded. Each campaign must treat them as such if they wish to get elected.

I could be wrong, but I think LG has stated that he doesn't personally care about his tax returns.
 
#38
#38
PKT_VOL said:
I think when he harps about it, he (like I) am talking about it from a campaign politics perspective. The American electorate is borderline retarded. Each campaign must treat them as such if they wish to get elected.

I could be wrong, but I think LG has stated that he doesn't personally care about his tax returns.
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He wants them released to help his hero. He is ok with such nonsense. If we actually know how much money Romney has earned we can assign some degree of evilness to him. More importantly hundreds of thousands of people can piss and moan about him paying less percentage points than did they. Even though that would still mean he probably paid hundreds of thousands more than 99% of them.
 
#39
#39
I would happily trade the mortgage interest deduction for treating capital gains as ordinary income.
 
#40
#40
lawgator1 said:
I would happily trade the mortgage interest deduction for treating capital gains as ordinary income.
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easy, get elected to Congress and propose the legislation. your state has sent Alan Grayson and Debbie wasserman-schultz to DC, so you would be a shoo-in.
 
#41
#41
So Basically Romney is in a lose - lose situation. He either took advantage of all possible deductions to lower his tax obligation thus making him an evil out of touch 1 percenter or he didn't take advantage of all the different deductions available thus making him look incompetent since no smart business person voluntary gives the government more of their money to waste. Hmmm, I wonder why he hasn't released more tax returns?
 
#42
#42
Vol4LifeLCA said:
So Basically Romney is in a lose - lose situation. He either took advantage of all possible deductions to lower his tax obligation thus making him an evil out of touch 1 percenter or he didn't take advantage of all the different deductions available thus making him look incompetent since no smart business person voluntary gives the government more of their money to waste. Hmmm, I wonder why he hasn't released more tax returns?
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Yeah, I'm sure that's his reasoning.
 
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