Corporate Tax Loopholes Are Killing Us | Wall Street Oasis

I don't see why people don't make an effort to make improvements to the current system. My perception is that if people entertain an impossible fantasy, they don't ever have to really make an effort to engage in reality....they can always cop out and say that "since my version of reality isn't happening, it's not my fault". And I don't buy that. Just like our monetary system, the tax system worked fine until people started mismanaging it: lousy managemeng will screw up any other system put in place, so why not address the lousy management? And as Carlin once pointed out, this nation hates its politicians, but we elect them....so who is really to blame here? The average person is so partisan that they've convinced themselves that the other half of the coutry is the problem....but I think that's not true. And I think a lot of people know this, but it's easier to play the blame game.

IMO, a flat tax is about as relevant as the gold standard: it's easy and simple to think about, but the reality is that it's a very inferior system. I question the judgement of people who disagree: shall we reinstate the divine right of kings, go back to the horse and buggy, or renounce our knowledge of astronomy and just all agree that the earth is flat? No, that would be....ignorant.

That's clever, I'd put it in the same category of "research" (wink wink nod nod) as the Phillip Morris scientists 'proving' that smoking has no bad influence on health. How about working to make something perform better instead of blocking all progress while calling to dismantle it. Before widespread education, the average person was barely able to write their name...is that really a great reality to return to??

TNA:

We all should question ... what does the money get spent on. Everyone who pays taxes has the right and obligation to question this.

This is where public debate is, yes? What the taxes are and what it's spent on is most of that conversation. Am I missing something here? (rhetorical question)

monaco1:

Rather we should be questioning why we pay taxes in the first place.

To fund what the gov't does. If you want to dismantle the gov't, cool, me and my gang will run my block. I have an AK47 and I decide to make myself king, next we're going to conquer the next town over No? Doesn't sound good? Ok, so some sort of gov't is needed. That costs money. For more, take US Gov't 101 or read a book. I definitely think that it can be cut down in some places and made more efficient in others....focus on that. But his whole infatuation with dismantling the government is delusional: realistically, that's not going to happen, so get real or kindly stop gumming up the conversation. Open letter to all extreme anarchists: you are ignored. Grow up.

As for flat tax: this idea won't get any traction for a bunch of reasons, and this debate has been beaten to death. Look at the countries that use a full flat tax system: for the most part, they're barely above third world nation status. In addittion, rich people/companies can afford accountants and lawyers that will beat the flat tax system as well.

As for ANT's comment on people owning houses or having kids: those are deductions. It's one thing to acknowledge a tax rate and then get a discount because the govt (aka....people) value those things, it's another thing all together to set up my "headquarters" in another region and funnel money through there. Also, flat tax systems in use in other countries have both deduction allowances and people/companies beating the system on havens.

In other news, most people posting on this thread have already made up their minds, so anything else is rather futile....yes? No one is here to actually open their mind and learn the different theories, they're here to push their own opinion.

Why bother? It's always the same.

Source: http://www.wallstreetoasis.com/blog/corporate-tax-loopholes-are-killing-us

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