General Interest

Scrap the tax code


GE again. The diversified conglomerate is likely to spend big bucks on lobbyists as the battle to reshape the U.S. tax code heats up. In December, President Barack Obama started negotiating with Republicans to extend unemployment benefits in exchange for tax cuts, and that’s when the tax commandos sprang into action.   Read the full story at BusinessWeek.com

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Discussion

6 thoughts on “Scrap the tax code

  1. FairTax! Any tax on income is going to necessarily have loopholes. Enact the FairTax and take the CON out of CONgress.

    Posted by lmkitties | February 28, 2011, 8:24 pm
  2. Flat Tax! 10% 0f gross, period. 10% of low income = not much, but all feel they must contribute. 10% of corporate gazillions with no loopholes = gazillions. No deductions for anyone.

    Posted by Liv | February 28, 2011, 9:12 pm
    • Absolutely correct! To be a citizen of this country, each must bear some responsibility, along with their right to reap the benefits. When one group feels entitled to be supported by another group, they suppose dominion over that group, i. e. the supporting group is enslaved to them. It was wrong a century and a half ago when slaves supported the land owners, and our current form of socialistic wealth transference is just as wrong. This perverted sense of entitlement has to end. Everyone must contribute.

      Posted by Prince of Peeps | March 1, 2011, 2:53 pm
    • 10% of net, rather than gross. Some businesses, such as grocery stores, don’t make a profit equal to 10% of gross, whereas service industries make nearly all profit.

      Posted by Prince of Peeps | March 3, 2011, 11:04 am
  3. I agree. 10% is absolutely fair. If God asks us to give 10%, and He can make do with that, so can the government!

    Posted by Lisa P | February 28, 2011, 11:02 pm
  4. We have a reverse plutocracy where the poor rule the wealthy through a symbiotic political class proxy that panders to them to maintain their power. (Yeah, I know that may be a bit of a stretch, but it has an element of truth.)

    Posted by Prince of Peeps | March 1, 2011, 3:28 pm

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