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    3 Replies Latest reply on Jun 1, 2011 12:44 PM by phanio

    Terrible Tax Breaks

    LUCKIEST Guide

      Ending all tax breaks could free about $300 billion dollars to help balance the budget.

      It has been a quarter of a century since the last tax code overhaul.

      Any comments or suggestions??

        • Terrible Tax Breaks
          amspcs Ranger

          This could make for a very interesting converfsation, Lucky.  I agree that many tax breaks, maybe even most, are nothing more than selfishly motivated pork.  But I don't know about eliminating ALL tax breaks since many, particularly those designed to benefit

          small business (and I DO believe that what's good for small business is good for America) are quite productive.  I also see many problems with the American tax system that go well beyond the issue of tax breaks.  How about the issue of spending billions in overseas aid while Americans live in the streets?  How about the issue of having a tax code so complex that nobody without the benefit of a Harvard degree and a dozen tax atorneys on retainer can hope to understand it?  The list goes on and on.  To be sure, this is a very interesting subject, and I hope your post inspires some knowledgable passion.

          • Re: Terrible Tax Breaks
            Barky Dog Tracker

            Here's what I would like to see:

            • More tax breaks and incentives for small businesses
            • Fewer tax breaks for individuals who make more than $500k
            • MUCH higher import taxes on goods coming from China, Taiwan, Mexico, etc. American small businesses should not have to compete with sweatshops oversees that pay slave wages to their workers. Too many local factories have shut down because of this. We need a much higher import tax on those goods, period. That tax revenue could go to help American small businesses (see bullet one).

            End of rant.


            • Terrible Tax Breaks
              phanio Pioneer

              The real problem with stopping tax breaks is not who it will benefit or hurt.  If our government stops those tax breaks - what will it do with the new found income?  They will not use to it pay down the debt or fix entitlement programs - they will just spend it on some other program that helps no one or send it overseas to countries that hate us.

              How about a fair tax - that taxes everyone the same - so we are not pitting one group of Americans against another.  Add to that a balanced budget amendment - thus, our government can't spend more than it brings in.

              Stopping tax breaks will not hurt those you seek to punish - like large corporations or the rich - their increases will just be passed down to the end user - people like you and me.