The counter argument to your counter argument is that a lot of deductions can only be taken by the 'rich'.
OK..maybe have some deductions, but not many. Too many deductions and loopholes start to creep in and if there is a loophole, someone will exploit it. On Wed, Mar 7, 2012 at 2:39 PM, Judah McAuley <ju...@wiredotter.com> wrote: > > The counter argument to your proposal (and I'm not saying that I > disagree with your proposal) is that deductions allow for encouraging > behaviors which are considered socially worthwhile. So, to take two > examples, there is the mortgage interest deduction which is supposed > to encourage home ownership for individuals and there is the research > and development tax credit for businesses which is supposed to > encourage investment in R&D that will help future competitiveness. > > Cheers, > Judah > > On Wed, Mar 7, 2012 at 11:32 AM, Scott Stroz <boyz...@gmail.com> wrote: >> >> OK..I can see it now. >> >> FWIW - My thought has been for a while that we rework the tax code so >> that there are no deductions...at all..none. >> >> Its simple...how much money did you make, regardless of where it came >> from, from January 1 to Dec 31? Ok, you owe us this much. >> >> Of, course, there would be a progressive scale there as well. >> >> That would likely put a lot of people out of business, though. >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:348191 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
