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DANIEL ANDERSON's avatar

You are as compelling in your arguments for Libertarianism as F.A. But no one is as compelling as Salma!😍

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Bennie's avatar

Certainly a business is permitted to define its taxable income by subtracting its expenses from its revenue. But the definition of an “expense” can be murky and the result is a complex tax code influenced by lobbyists seeking advantages for their respective industries.

Tax “loopholes” or “incentives” are a backhanded way of spending money. Whether the government lets you deduct mortgage interest or simply cuts you a check to help you buy your home the result is the same. Either way you are (thanks to the real estate lobby) receiving an advantage over someone who, for example, chooses to rent a home and use his savings for investment instead of a down payment.

Tax preferences that are eliminated in the name of fairness should be accompanied by a reduction in tax rates to maintain the same overall revenue. Whether or not the government needs more revenue ought to be a separate debate.

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