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Sarah Ibarruri (20,087 posts)87. Charity is such a scamFirst, charity is either charity, or it's a money-making (tax lowering, if you will) proposition. It makes me laugh when people in the U.S. say they give to charity and then take a deduction. That's not giving. That's taking. It's basically the govt paying charity for garbage, because...Second, a huge amount of what people give, are items that they would've thrown out, so they're making money off garbageAs for home ownership, it's a subsidy of the real estate industry. The government subsidizing the real estate industry. Most lower income and middle income people benefit almost not at all. If interest on personal loans are not permitted, why is this any different? And it doesn't help the lower and middle income people buy a home. It's hella shocking that it's allowed up to the first million. If someone can get into an expensive home, really, are they needing a home ownership deduction? Of course not. I'm all for doing it like France, where there's no such thing.Educational deductions are out of the reach of lower income people, so what exactly is the point?Deductions (money paid by the govt) to people who are doing well, need to be eliminated.
Sarah Ibarruri (20,087 posts)96. It boils down to money the govt is giving you, and the govt should not be in the business of handingout money to those who are doing okay.Besides, as I said before, people give a lot of trash, stuff that belongs in the city dump.Lastly, getting a benefit for charity, is not charity at all.Charity: The practice of benevolent giving and caring. What it is not is the practice of getting rid of your trash, and getting to pay lower taxes.
Sarah Ibarruri (20,087 posts)99. The govt is keeping you from having to pay what you would've paid. Therefore, it's paying you. nt
Sarah Ibarruri (20,087 posts)76. I believe that you don't know squat about economics, but you like your excess money - a lot nt
How about just an honest definition? What exactly is E in the ITC?
Ted Kennedy is the only person with an actual confirmed kill in the war on women.
LOL -- Earnedbyothers....
I would like like to be back to the 1970's where one could deduct a federal tax from ones IRS. Deduct interest from buying a car or house, taxes on tobacco and booze.----taxes on gas or heating oil interest on credit cards and state taxes on food and land.
I'm sure she is equally upset by the fact that you can deduct student loan interest as well, correct?
Educational deductions are out of the reach of lower income people, so what exactly is the point?
She covered that, too.QuoteEducational deductions are out of the reach of lower income people, so what exactly is the point?
Furthermore the assertion is made that taxes are the vehicle by which the government controls inflation so a corporation paying lower taxes is a threat to price controls.
I love posts like this.They're right up there with screeds explaining how tax cuts cost the government money.Only in the mind of a statist, is keeping more of what YOU earn "welfare".