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In reply to the discussion: Tax Deductions are a HUGE form of welfare, and the richest people are getting the most welfare [View all]Ilsa
(61,694 posts)137. Charities oppose eliminating estate taxes and
The deduction for charitable giving because they know their receipts decrease (alot) when the preferential tax treatment is absent.
Yeah, some people give to boost their deductibles.
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Tax Deductions are a HUGE form of welfare, and the richest people are getting the most welfare [View all]
Sarah Ibarruri
Mar 2014
OP
Yup. The rich take deductions (welfare) in countless ways - even pleasure trips nt
Sarah Ibarruri
Mar 2014
#4
Yup, it's not some black lady Reagan invented. It's suited CEOs making millions and all the rest nt
Sarah Ibarruri
Mar 2014
#5
So paying tax on capital gains is OK, but deducting capital losses is welfare? That is complete BS
badtoworse
Mar 2014
#15
If you're gambling, it should be your problem and your loss completely, don't you think? nt
Sarah Ibarruri
Mar 2014
#16
If you want to look at it that way, then win or lose it's none of the government's business.
badtoworse
Mar 2014
#17
Incorrect. The govt is there to protect the nation, and the entire nation needs to be protected.
Sarah Ibarruri
Mar 2014
#18
Perhaps not. I'm a serious investor and I found her attitude about this to be not very nice.
badtoworse
Mar 2014
#30
Read it too fast...thought she was talking about gambling, literally. You are
Laura PourMeADrink
Mar 2014
#106
Incorrect. Investing is a choice. My country shouldn't be penalized for your investment losses nt
Sarah Ibarruri
Mar 2014
#35
I don't care. Let me repeat. Your choices with your excess $ is not the country's problem nt
Sarah Ibarruri
Mar 2014
#45
No, what hurts is how entitled you feel to our govt "paying you" for your losses nt
Sarah Ibarruri
Mar 2014
#68
You can deduct all you want, but that money you're keeping is our country's money nt
Sarah Ibarruri
Mar 2014
#64
When an investor invests money they are using money they earned in another endeavor
Nuclear Unicorn
Mar 2014
#109
What? Are you kidding me? Your gambling losses should be my or my country's problem? nt
Sarah Ibarruri
Mar 2014
#34
I don't care how you see it. Your choices with your excess money should not be my problem nt
Sarah Ibarruri
Mar 2014
#40
What if I told you that the tax code allows you to deduct *actual* gambling losses ...
dawg
Mar 2014
#213
Again, why should my country have to pay you for your decisions in gambling, or your choices in
Sarah Ibarruri
Mar 2014
#36
Oh my God. Now we're getting personal here? I said that gambling should not be the country's prob
Sarah Ibarruri
Mar 2014
#41
Clearly, you think your losing choices with your excess money should be protected by me
Sarah Ibarruri
Mar 2014
#46
I doubt the economy would melt down if the govt doesn't bail out investment losses nt
Sarah Ibarruri
Mar 2014
#222
I'm not a tax attorney, but I don't think the U.S. govt should be "paying" people for
Sarah Ibarruri
Mar 2014
#63
I'm off to lunch, but when I return, I'll discuss how you can keep your job even if deductions
Sarah Ibarruri
Mar 2014
#103
"This will teach you upstarts to question low low low taxes for the job creators!" I know! nt
Sarah Ibarruri
Mar 2014
#223
You can only deduct gambling losses from income taxed from gambling wins.
Drahthaardogs
Mar 2014
#59
Who said that? Did you view the youtube, or merely posted a response just to respond something? nt
Sarah Ibarruri
Mar 2014
#38
I can assure you that if your landlord can't deduct his mortgage, your rent will increase.
Hoyt
Mar 2014
#81
That's the argument that if you treat the rich nicely, they'll trickle down to you.
Sarah Ibarruri
Mar 2014
#162
No, that is the argument that a landlord has to cover expenses and price his apartments so as to be
Hoyt
Mar 2014
#172
Paraphrasing. You said that if the landlord was doing okay, the rents would be lower. Right?
Sarah Ibarruri
Mar 2014
#174
Of course they should. Why should someone get money from charity? Either it's charity, or it's not
Sarah Ibarruri
Mar 2014
#33
So are you saying that you wouldn't give charity if you couldn't get $ advantages from it?
Sarah Ibarruri
Mar 2014
#163
Also by helping to remove the sanctimony gene from the pool. So thanks. nt
Dreamer Tatum
Mar 2014
#56
however, you are not adding to the taxpayer pool - who will pay taxes in the future?
DrDan
Mar 2014
#58
I believe taxes are too high on the working poor and middle class BECAUSE those who have
Sarah Ibarruri
Mar 2014
#70
I believe that you don't know squat about economics, but you like your excess money - a lot nt
Sarah Ibarruri
Mar 2014
#76
I should've known you were in the business. lol So is my brother-in-law, which is why I know what
Sarah Ibarruri
Mar 2014
#90
Without deductions you'd have no job. Let's examine it from that angle! :-P nt
Sarah Ibarruri
Mar 2014
#98
Some deductions are abusive, but I basically agree. And, one thing a lot of folks miss is
Hoyt
Mar 2014
#84
Look, if I had $100,000 to give, I'd get a deduction "returning" $35,000, I'd still be out $65,000.
Hoyt
Mar 2014
#91
So you think I (and the others in the U.S.) should "pay" you for giving charity? Excuse me?
Sarah Ibarruri
Mar 2014
#93
No one is paying me (because I'm not taking that deduction). The government is saying we value
Hoyt
Mar 2014
#97
The govt is keeping you from having to pay what you would've paid. Therefore, it's paying you. nt
Sarah Ibarruri
Mar 2014
#99
I would still be contributing a net $65,000. Are you against orphanages getting contributions?
Hoyt
Mar 2014
#104
It boils down to money the govt is giving you, and the govt should not be in the business of handing
Sarah Ibarruri
Mar 2014
#96
The government isn't giving people money when people donate to charity.
Nuclear Unicorn
Mar 2014
#140
Maybe not everyone, but LOTS of people give their trash, stuff that belongs in a dumpster nt
Sarah Ibarruri
Mar 2014
#175
So you are against taxes then. Am I correct? Because if you consider that YOUR money,
Sarah Ibarruri
Mar 2014
#165
You can argue all you want. The money the country needs to survive needs to come from us...
Sarah Ibarruri
Mar 2014
#185
I'm merely saying that those who have plenty to live on, should get no deductions. nt
Sarah Ibarruri
Mar 2014
#193
Another one that didn't watch the youtube, but merely responded in a knee-jerk response nt
Sarah Ibarruri
Mar 2014
#167
Giving the richest and large corporations welfare through deductions, low maximum tax rates,
indepat
Mar 2014
#119
GE reportedly pays no FIT on an income probably many multiples that of your Fortune 500 company
indepat
Mar 2014
#198
Exactly. No homeless or poor person would be able to buy a house and get that welfare nt
Sarah Ibarruri
Mar 2014
#160
There has been some interesting post here. On home mortgage interest deduction,
Thinkingabout
Mar 2014
#133
Lunacee - I would be very interested in reading about that. Wouldn't surprise me! nt
Sarah Ibarruri
Mar 2014
#157
Exactly. The same ones whining about the poor and homeless are bleeding the country dry nt
Sarah Ibarruri
Mar 2014
#156
Thank you! Corporate welfare is like a broken faucet from which the water is shooting out non-stop
Sarah Ibarruri
Mar 2014
#155
They're like the Nazis - creating scapegoats so no one realizes what THEY are doing. nt
Sarah Ibarruri
Mar 2014
#169