| kach22i |
10-06-2016 07:40 AM |
Quote:
Originally Posted by Tervuren
(Post 9307565)
I have given this consideration, it did indeed seem that way on first read. However, it really is an effort to create a fair tax situation.
Say, a country has population making $1000 in sum, there is a 40% tax rate, however, the richest person who is $500 of the countries income pays no taxes via deductions.
Under this pledge, if you remove his deduction, you lower the tax rate to 20%. The country still gets $200 as they did before, but now everyone but the one rich person pays half the tax rate they did before.
So that pledge, really isn't a bad thing.
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Your kind and generous interpretation of how the pledge could be used for good is naive at best.
This pledge thing has turned out to be a money maker for Grove Norquist, one man with tremendous power to make of break players. Sort of a precursor to the Tea-Party challenging moderate republicans.
In practice if you do not sign the pledge the network which has been built will take you down. There is much documentation on this, many examples and stories all you have to do is look it up.
The pledge protects the loopholes, and the wealth of the top one percent.
The pledge is set in place to do one thing, prevent any kind of meaningful tax reform. The irony, the name of Norquist's group for which he is the 30 year president of is called "Americans for Tax Reform".
Who Is Grover Norquist And What Is His Pledge? - Business Insider
Quote:
The pledge has been signed by all but 16 of the incoming Republican members of the House of Representatives — and all but 12 of Republicans currently in Congress.
The key component of Republicans' willingness to compromise in any deal, however, includes capping deductions and/or closing loopholes in the tax code — two moves that would violate Norquist's pledge. That has led many Republican heavyweights to begin wavering on the pledge.
Norquist has pushed back this week with a series of television appearances, saying that Republicans will have to answer to constituents — not him — if they break the pledge.
But how did Norquist come to hold this much power without ever taking office? Here we look at his complicated path to prominence.
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For republicans to participate in any kind of tax reform, they must break their pledge.
Only a fool would go head to head with Grover, Trump even signed the stupid thing. However, I'll give him a small bit of credit for attempting to invalidated it with his addition to it to exclude tariffs on China and Mexico. Moves most economist predict would lead to world wide depression and collapse of economies across the globe including our own.
FYI: the Real Estate loss deduction for which this thread is dedicated to is a loop hole sworn not to be closed or eliminated per this pledge. Anyone thinking that it's unfair for developers like Trump to build wealth and not pay taxes should consider who these pledge signers are, and who's interest they actually represent.
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