Views On “GOP Balks at Taxes to Finance Jobs Plan”

February 9th, 2012 by admin

I run a small business and I am amazed at all the silly deductions I can legally make to lower my taxes.

Anyone who itemizes knows how easy it is to make a 100,000 income look like a 50,000 income.

Several years ago I bought an SUV because the tax code allowed me to deduct 100% of the cost of the SUV off my taxes in ONE year instead of depreciating it over 5 years. The catch was the vehicle had to weigh over 6000 pounds to qualify. A lot of doctors and dentists bought expensive heavy gas guzzling Hummers back then.

Similarly millions of Americans bought houses during the real estate estate boom days in part because there was a tax deduction on mortgages . It encouraged people to take out loans instead of buying homes for cash. And it was offered to all Americans at a time when the real estate market was white hot.

Tax deduction laws are Stupid and should be gotten rid of.

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