You're wrong on all counts, except graft. Graft exists in all large organizations, but much more in the post-Reagan government because he opened the floodgates to private-sector government contractors. Pre-Reagan ALL medical was deductible, now the bottom end is taxed. You may deduct only the amount by which your total medical care expenses for the year exceed 7.5% of your adjusted gross income. This effectively wiped out the bulk of the medical deduction for most of the middle class, resulting in an average tax increase of around 50%. It was the single biggest negative change in the history of class disparity in America. It destroyed what was once called the middle-class. As for investors of property, no "loophole" was closed. One of the largest tax breaks for owners of investment property comes in the form of depreciation, or the loss in value of a property over time due to physical deterioration. The U.S. Internal Revenue Service (IRS) allows owners to take a tax loss every year based on this depreciation over the useful life of the asset, known as the cost-recovery period. This option can reduce their taxable income by thousands of dollars each year. From Depreciation of Investment Property - InterNACHI http://www.nachi.org/depreciation-investment-property.htm#ixzz23d1AwbDL
His words are very carefully chosen. And they are chosen to continue and worsen the class warfare he's started, and it is completely irresponsible.
Then please feel free to leave this country and go somewhere where this is not the case. I'm sure you'll love it there.
Do you have a job? I've never seen so much whining and bitching from somebody about how much everybody else has and how nobody is taking care of poor-little-you. Get off your ass, get a job and stop whining. Damn.
Medical expenses are included in a different deduction. As far as real estate deductions go, you can only deduct $25K a year in passive losses from investment properties. And for the 1% you hate so much, they don't even get to deduct that much, if anything at all. http://www.irs.gov/businesses/small/article/0,,id=146325,00.html Rental real estate losses up to $25,000 may be deducted by an individual whose modified adjusted gross income (MAGI) is less than $100,000[7]. To qualify for this offset, the taxpayer must actively participate, own at least 10 percent and not be a limited partner. The $25,000 exception is phased out at the rate of 50 cents for every dollar of MAGI over $100,000. Therefore, when MAGI exceeds $150,000, the $25,000 offset is not allowed.
...to be fair, the government does not print money. They borrow it from the Federal Reserve, a privately owned and unregulated BANK, as debt that US citizens are now responsible for paying back in the form of "illegal" taxes! I am sure that JFK would not have been assassinated, had he not signed Executive Order 11110 to essentially eliminate the Federal Reserve.
https://www.fbo.gov/index?s=opportu...88a3301e5&tab=core&_cview=0&fb_source=message IRS soliciting for a contractor to provide them with 174,000 rounds of “.357 Sig 125 grain bonded jacketed hollow point pistol ammunition. They're coming for you, barfo.
It's not me they'd be coming after. I pay my taxes. Mitt Romney, on the other hand, is probably worried. barfo
A) Touch a nerve, asshole? B) You don't know a fucking thing about me, so how about you eat a nice plate of Shut The Fuck Up.
Romney pays his taxes, but Obama wants to bleed him dry. And they are coming for you. Or you might get hit in the crossfire. Next time we talk about spending cuts vs. raising taxes, how about we cut the spending on bullets for the IRS (the govt. doesn't need to be militarized except the military and the police) instead of raising taxes so we can buy more bullets for the IRS?
Actually, the IRS is probably gearing up because the Bush tax cuts are going to expire and there are going to be many more millions of people losing their homes. They may well try to defend those homes when the tax man comes to take those homes away.
IRS offices now have armed guards who look like they just got out of the military. All they do is answer questions, while you wait for the real IRS agent, about which shelf has which blank form that you want. Under Bush, the nation increased security and intelligence spending by a few hundred billion dollars per year. It's one reason Obama can't bring down the deficit like Clinton did.
Wrong. I know this about you... you bitch and moan more about things not being "fair" than anybody else on this board.
Sure he can. Just don't spend the money on the increased security and intelligence. Or at least don't spend the money on bullets for the IRS.
You've forgotten those articles in the early Reagan years, gloating how, after Carter cut the CIA, the laid-off agents kept meeting to influence their insider friends to make him look bad. Then Reagan rehired them. No president since has cut intelligence spending. Similarly, since the boys killed JFK (E. Howard Hunt admitted it), the only president who opposed intelligence over any issue was Nixon, so Helms got him.
The end of the Bush tax cuts will cause an economic recovery actually preventing tens of millions of foreclosures.
