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  • gatorblue3 gatorblue3 Nov 4, 2011 11:08 PM Flag

    Herman Cain,Cained by Black America

    You're all nuts. It's the tax system itself that is corrupted for both the middle class and the rich. A CPA friend of mine once showed me the cheat sheet CPAs use to maximize charitable contributions for clients. That is the threshold before the IRS raises a red flag. Donate an old rusty bicycle? Say it's worth $500 and the IRS doesn't care so long as you don't pass "the threshold". Corporations do the exact same thing donating outdated garbage to universities and writing it off for millions. These stupid loopholes need to be stopped for everybody. The government is losing billions in income letting EVERYBODY get away with this crap!

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    • <<<"These stupid loopholes need to be stopped for everybody. The government is losing billions in income letting EVERYBODY get away with this crap!">>>

      Doesn't one party consider closing loopholes the same as raising taxes? Something they swore never to do.

      But anyway, with the budget cuts there will be less agents to check returns, so don't expect them to end anytime soon.

    • Agreed, but Cain is bypassing the loopholes entirely by making the tax system "rich blind" in design. When the tax system sees the working classes and doesn't see the rich, then doom rapidly approaches.

 
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