- #1
Jimmy Snyder
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Here is an excerpt from the President's June 29, press conference.
http://m.whitehouse.gov/blog/2011/0...mit-now-time-go-ahead-and-make-tough-choices"
As I understand it, the tax code is thousands of pages long and is filled with special conditions for this industry and that. Apparently, there is special treatment for corporate jets. There are two ways to help the corporate jet industry. One would be to hand them a check for $x, and the other way would be to lower their taxes by $x, or in this case, I think it lowers the taxes of their customers. Either way it's $x. From the point of view of the jet manufacturers and their customers, the tax break is better than a check in two ways. 1. It doesn't look like welfare even though it is. 2. If someone suggests that it be taken away, they can be accused of raising taxes.
However, there is a larger issue here. The govt has decided to support some companies at the expense of others. How is this different from the central planning that worked so poorly for the Soviets? In the light of that question (I hope someone can answer it.) it comes as no surprise to me that the Democrat President would say "It would be nice if we could keep every tax break there is." Let us delete one line from that thousand page document and really stick it to those fat cats while continuing to micromanage the economy. What does surprise me is the response from the Republicans. I would have expected them to say, "It would be nice if we could get rid of every tax break there is and get the govt off the backs of the business community. But THIS tax break is not the right place to start." That would have made sense. Instead, they are saying that this is a good tax break and we should keep it. Is there a politician left in this country that isn't a #%$&ing Communist?
Barak Hussein Obama said:It would be nice if we could keep every tax break there is, but we’ve got to make some tough choices here if we want to reduce our deficit. And if we choose to keep those tax breaks for millionaires and billionaires, if we choose to keep a tax break for corporate jet owners, if we choose to keep tax breaks for oil and gas companies that are making hundreds of billions of dollars, then that means we’ve got to cut some kids off from getting a college scholarship. That means we’ve got to stop funding certain grants for medical research. That means that food safety may be compromised. That means that Medicare has to bear a greater part of the burden. Those are the choices we have to make.
http://m.whitehouse.gov/blog/2011/0...mit-now-time-go-ahead-and-make-tough-choices"
As I understand it, the tax code is thousands of pages long and is filled with special conditions for this industry and that. Apparently, there is special treatment for corporate jets. There are two ways to help the corporate jet industry. One would be to hand them a check for $x, and the other way would be to lower their taxes by $x, or in this case, I think it lowers the taxes of their customers. Either way it's $x. From the point of view of the jet manufacturers and their customers, the tax break is better than a check in two ways. 1. It doesn't look like welfare even though it is. 2. If someone suggests that it be taken away, they can be accused of raising taxes.
However, there is a larger issue here. The govt has decided to support some companies at the expense of others. How is this different from the central planning that worked so poorly for the Soviets? In the light of that question (I hope someone can answer it.) it comes as no surprise to me that the Democrat President would say "It would be nice if we could keep every tax break there is." Let us delete one line from that thousand page document and really stick it to those fat cats while continuing to micromanage the economy. What does surprise me is the response from the Republicans. I would have expected them to say, "It would be nice if we could get rid of every tax break there is and get the govt off the backs of the business community. But THIS tax break is not the right place to start." That would have made sense. Instead, they are saying that this is a good tax break and we should keep it. Is there a politician left in this country that isn't a #%$&ing Communist?
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