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08/10/2009

The Complexities of Tax Breaks

I could write something brilliant here, but someone else already did:


http://gregmankiw.blogspot.com/2007/03/barstool-tax-policy.html

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As far as I'm concerned, this is about getting 47 million or so people health care who don't currently have it, bringing up the standard of care for everyone, not just those of us who can afford it. Though this may cause the current business model of health care companies to change, I'm okay with that.
If you're worried about deficit spending, lets just be happy we're deficit spending on our own economy and our own people, not just wars in other countries.

That however ignores the theory of tax shelters, overseas accounts, and all sorts of other wonderful things the rich have to make their effective tax rate less than some of the other people who can't tax shelter, or move their money around in ways to save it from being taxed.
The post makes a point, but one I think is short sighted.

Tax breaks (for Rich or poor) are complex anyway ya look at them, especially with a graduated system. BTW have you checked out the book Perfectly Legal? Wonderful read!

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