A tax loophole is a term that is part of a law voted on by Congress and the President which is used to manipulate the uninformed. When you hear a politician use the word “loophole” you can know that they are trying to manipulate you and should look closely at whatever is said thereafter.
For example the “tax loophole” regarding “corporate jets” that was lambasted by the President on June 29, 2011 was included in President Obama’s own stimulus package from 2009. It is called “accelerated depreciation.”
It is the height of insanity to have the Democrat controlled House, the Democrat controlled Senate (filibuster proof at the time) with a Democrat President pass the provision on “accelerated depreciation” in 2009. And then a little over two years later in 2011 lambast the Republicans for the tax law when its renewal was a completely Democrat construction and no Republican could stop it.
Yet none of the mainstream media bothered to report this or seemingly even research it.
One could call the home mortgage deduction a “loophole” as well as anything else that the Congress and President have put into law.
A loophole is part of a tax law that a politician now wants to demagogue about.
“[W]e can’t simply cut our way to prosperity” – President Obama
Prosperity comes from a free people who have the liberty to build and create. Prosperity does not come from a government directive.
With all the discussion in Washington about raising the debt limit, I thought it would be useful to link to one of the most accurate debt clocks on the web. The US Debt Clock at USADebtClock.com shows the debt, the unfunded liabilities debt, and the per person debt. Plus a lot of other information.
“There’s some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and … you use an ATM, you don’t go to a bank teller. Or you go to the airport, and you’re using a kiosk instead of checking in at the gate.” Obama replied when asked about a report that shows businesses are spending 2 percent more on employees since the recession officially ended, but 26 percent more on equipment .
If we get rid of the car, the airplane, the tractor, electricity, and running water, we’ll have a lot more employment too. It won’t be good paying and it won’t be jobs that people really want, but there will be higher employment.
“Greek Socialists hold emergency talks on austerity”
Banks and “investors” who fund socialists should be forced the bear costs of doing so. Perhaps they will be more careful in the future – as Thatcher said, eventually they run out of other people’s money. Now they are trying to get “other people’s money” from the IMF and EU.
When you relay on force instead of freedom, the goal becomes to polarize. Many politicians in Washington have that as their goal – less freedom, more polarization between groups.
[N]ow you have the Republicans, who want to literally drag us all the way back to Jim Crow laws… DNC Chair Rep. Debbie Wasserman Schultz (FL), June 7, 2011
Wasserman Schultz is either insane or a pathological liar to make a statement like that.
So much for “The New Civility.”
“Documents made public yesterday by Judicial Watch describe extensive collusion by Federal Communications Commission officials with a left-wing advocacy group in a campaign to expand government regulation of the Internet.” FCC control could give the FCC the ability to regulate content. You may like that not if you are an Obama fan, but the short answer is, no one should control the Internet. Read more