HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » Which deductions would yo...

Wed Nov 28, 2012, 01:59 PM

Which deductions would you eliminate?

(if any)




From a story in the WSJ, Nov. 2, titled

Tax Breaks Under Fire (if you cannot open the story, type the title into Google)

http://online.wsj.com/article/SB10001424052970204707104578093233954747820.html

6 replies, 1033 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 6 replies Author Time Post
Reply Which deductions would you eliminate? (Original post)
question everything Nov 2012 OP
Mnemosyne Nov 2012 #1
still_one Nov 2012 #2
msongs Nov 2012 #3
unblock Nov 2012 #4
Warren Stupidity Nov 2012 #5
bemildred Nov 2012 #6

Response to question everything (Original post)

Wed Nov 28, 2012, 02:02 PM

1. Dancing horses. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to question everything (Original post)

Wed Nov 28, 2012, 02:04 PM

2. Dividends and capital gains, and yes it would impact me. Also

Getting us out of the trillion dollar wars, and reducing the military budget

Reply to this post

Back to top Alert abuse Link here Permalink


Response to question everything (Original post)

Wed Nov 28, 2012, 02:12 PM

3. food as a business expense.everybody has to eat,but not a million $$ restaurants nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to question everything (Original post)

Wed Nov 28, 2012, 02:13 PM

4. exclusion of overseas income.

right now, if you own money or investments held in a foreign bank, you pay income tax on the profits/dividends/interest (minus a credit for taxes paid to a foreign country).

but if you set up a corporation overseas to do exactly the same thing, the money can grow and grow and you don't pay income tax in the u.s. until and unless you repatriate the income.

screw that.

we should "look through" such arrangements for income tax purposes. if you own that profit, anywhere in the world, you should pay american taxes on it.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to question everything (Original post)

Wed Nov 28, 2012, 02:34 PM

5. On that list: none of the above.

Raise the tax rates back to 1999 levels. End of problem.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to question everything (Original post)

Wed Nov 28, 2012, 03:47 PM

6. Tax all income the same as earned income, or better tax unearned income 10% higher.

And remove the FICA cap.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread