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- Jan 27, 2011
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- Conservative
Tax Expenditures operate the same as a subsidy.
Get rid of the all. Let the market sort it out. Am I right?
You know there is a problem with the tax code when people feel its justified to give companies a break for the cost of operating business. How about the tax code just be re-written to only tax profit instead of total income?
And you think Corporate America is paid a lot now...wait until they can write off their salaries as a reduction in taxes paid on a balance sheet.
Look, Capital assets are taxed as a part of business. They go down in value as they age. Amortization is the process of writing them off and its tax deductible to reflect that decrease in value.
Another factor is if we begin the process of double taxation, companies will simply incorporate in another country. The way that companies have been fleeing high tax states should tell you that much. If you tax a company too much they will change their physical location if at all possible. Oh, and take the jobs with them.