Top Tax Breaks Will Cost $12 Trillion Over Next Decade

This is according to the Congressional Budget Office:

http://news.yahoo.com/top-us-tax-breaks-cost-12-trillion-over-230339087.html

Tax "breaks" don't cost money.

No kidding, Outer. That is one of my pet peeves. And that sequester was about CUTTING THE INCREASE, not about cutting the current budgets, so why in heck did it affect everything the next day??????????

Outerlimits wrote:Tax "breaks" don't cost money.

The Government becomes bereft of money.



No more Solyndras!



That money goes into the Economy—and there's something wrong with that?



'Course, if you're trying to destroy the Economy, it becomes a problem.

The only ones who are trying to destroy the economy are the Republicans, and they are now using these hot-air, bogus scandals in an effort to derail Obama. The good news in a capitalist society is that the economy is somewhat apolitical. If people think they can make a buck, they're going for it. "It's the economy, stupid"! Tax breaks always cost the country much needed revenue!

News Buzzard wrote:"...The only ones who are trying to destroy the economy are the Republicans, and they are now using these hot-air, bogus scandals in an effort to derail Obama..."

Explain how the IRS became the Investigating-Republicans Society.

Harder, would be to explain four dead Americans.

News Buzzard wrote:The only ones who are trying to destroy the economy are the Republicans, and they are now using these hot-air, bogus scandals in an effort to derail Obama.

Derail him from what? According to him, he had no knowledge of anything and condemns all the actions leading up to theses scandals.

What kind of doubletalk are you selling when you deny the existence of wrong doing?

News Buzzard wrote:Tax breaks always cost the country much needed revenue!

What an incredibly convoluted view. Tax “breaks” cost the government???

Allowing people to keep their own money and property “costs” the government?

Do you actually believe and individual’s work, labor and property actually belong to the federal government?


The left’s argument on this is PATHETIC.

Let’s look at some of these so called “tax breaks” that benefit the rich disproportionately.


$2 trillion exclusion of net pension contributions.
$1 trillion deduction for mortgage interest.
$1.1 trillion deduction for state and local taxes.
$3.4 trillion exclusion for employer-paid health benefits.

What tax break do you believe should be taken away?

Of course tax deductions mainly benefit those who pay the lion’s share of the taxes. Half the people in this country so called "fair share" equals ZERO. Do they need a BIGGER tax break?

You didn't mention any deductions or rules that benefit the upper income class, for example, carried interest. The carried interest clause is clearly abused and should be tightened up. I believe in the Buffet rule.

I can see reducing pension and local tax deductions for folks over a certain income, as well as deductions for charities, mortgage interest, and health insurance premiums. I'm not in agreement with the line that the Baby Boomers are going to make Social Security and Medicare go broke. We weren't born yesterday, and we're going to make damn sure that those programs are not tampered with. If we need more revenue, then so be it!

The article YOU reference stated those exact example I posted. Your article said those deductions overly favored the rich.

No kidding, any tax reduction would favor those who actually pay more.

Your side has had plenty of time in power to change the tax code, there has not been any attempt to do so. Blaming others for their failures seems to be the progressive way.

News Buzzard wrote:I can see reducing pension and local tax deductions for folks over a certain income, as well as deductions for charities, mortgage interest, and health insurance premiums.

Of course you can, why shouldn’t SOME people pay two, three, a hundred times higher rates if they can afford it? As long as it is not you.

News Buzzard wrote: I'm not in agreement with the line that the Baby Boomers are going to make Social Security and Medicare go broke. We weren't born yesterday, and we're going to make damn sure that those programs are not tampered with. If we need more revenue, then so be it!

And there are your true colors.

This isn’t about the poor, the children or the downtrodden, this is about you.

Somebody else needs to pay for YOUR retirement. You will support anyone as long as they promise to give YOU stuff. It also explains your unwavering support for a corrupt administration, no problem with it at all if the scales are tilted in your favor.

What gives you the right to other people’s money, other people’s risk, other peoples sacrifice and hard work? What gives the progressive left the authority to single out the successful, take their earnings and property and hand it over to the idle?

I thought you were deeper than that, I really did. I can’t condone stealing from my children and grandchildren.

If you think this administration will not sell seniors down the river, you are sadly mistaken. I am against Obamacare for many reasons. The number one reason is its going to turn Medicare along with the average health insurance plan into Medicaid. They have already turned NH HealthyKids into Medicaid.

You are next.

My parents worked hard their entire lives, they deserve better than Medicaid and so do you. Wake up please.

You know me better than that!