shiang
Well-known member
- Joined
- Sep 6, 2012
- Messages
- 937
- Reaction score
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- Gender
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- Political Leaning
- Progressive
So Romney wants to lower corporate tax rates while eliminating deductions/loopholes, he emphasized this in both debates so I can only assume it's his stance. He says the goal is to lower taxes on small business without lowering tax revenue. Ignoring the fact that the numbers don't add up and there's no way there's enough revenue from closing loopholes to compensate for the tax cuts, it still doesn't make sense.
I think there's a general consensus that we want to tax the money that's being squandered or banked, and not tax the money that could be used by the private sector to produce goods, new ideas, and created jobs. The reason we have deductions in the first place is to encourage spending and investment. Sure, many of these deductions are silly and/or could be abused, but most if it is to put the money back in the hands of investors
Why not just make corporate gains tax progressive like the income tax? Instead of this roundabout way of cutting taxes then compensating by closing loopholes, which are there to encourage investment, spending, and donations in the first place. I agree it's a good idea to put more money in the hands of small business owners to level the playing field, as big companies do have an advantage in resources and make it harder for small business with good ideas to compete.
Those of you that have read my posts know that my stance is to raise corporate gains taxes significantly and to give back the money to those who invest and donate the money though deductions. Romney's plan is completely the opposite, if anyone has a good explanation for why and how Romney's play would work, please reply to the thread or send me a message.
I might not be the brightest, but this sure sounds like Romney's ploy to stuff the pockets of himself and his friends. People who reap huge sums for themselves while investing and donating little back to the community, while raising taxes on companies that do invest and grow by closing their loopholes.
I think there's a general consensus that we want to tax the money that's being squandered or banked, and not tax the money that could be used by the private sector to produce goods, new ideas, and created jobs. The reason we have deductions in the first place is to encourage spending and investment. Sure, many of these deductions are silly and/or could be abused, but most if it is to put the money back in the hands of investors
Why not just make corporate gains tax progressive like the income tax? Instead of this roundabout way of cutting taxes then compensating by closing loopholes, which are there to encourage investment, spending, and donations in the first place. I agree it's a good idea to put more money in the hands of small business owners to level the playing field, as big companies do have an advantage in resources and make it harder for small business with good ideas to compete.
Those of you that have read my posts know that my stance is to raise corporate gains taxes significantly and to give back the money to those who invest and donate the money though deductions. Romney's plan is completely the opposite, if anyone has a good explanation for why and how Romney's play would work, please reply to the thread or send me a message.
I might not be the brightest, but this sure sounds like Romney's ploy to stuff the pockets of himself and his friends. People who reap huge sums for themselves while investing and donating little back to the community, while raising taxes on companies that do invest and grow by closing their loopholes.