Eisboch wrote:
"HK" wrote in message
...
Eisboch wrote:
"HK" wrote in message
...

Unfortunately, tax laws in this country are the result of lobbying, and,
of course, are sharply skewed to favor the wealthiest. The one proposal
Mike Huckabee made that I liked was a national sales tax, with
exemptions for lower-income workers and retirees (with incomes up to a
certain level), in place of our patchwork quilt of income taxes and
deductions. As presented, Huckabee's plan is not workable, but it
certainly is a starting point.


Every election cycle one or more candidates proposes "sweeping reforms"
to the IRS tax structure, ranging from it's elimination and replacement
with a national sales tax or an across the board fixed percent of income
plan.

Nothing ever comes of these proposals.

Eisboch

Unfortunately, and as a result, the rich keep getting richer, the middle
class gets smaller, and the number of those clawing to stay even
increases.

Trickle-down economics works very well if you are trickling down your
wealth to your descendants.

When the rich buy, aren't they helping to fuel the overall economy even if
they may get a tax deduction on part of the interest paid on some items?
This is a tough one for me. I understand and agree that loopholes that
exist for the financially privileged to reduce or avoid taxes should be
eliminated, but to reduce the incentives to purchase big ticket items or
second homes, etc. seems like it would have a detrimental effect on the
economy, jobs, tax revenues, etc.

Eisboch




It depends on what is purchased and, if manufactured goods, where it was
made, to some degree.

As I stated, I have no real problem with a certain level of write-offs
for goods mostly manufactured in the USA or Canada or interest
deductions for loans for legitimate second homes built in the USA by
legal workforces.

To be on topic here, I would allow "second-home" interest deductions to
a certain level for boats mostly built in the USA or Canada by legal
workforces.