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Kurt Ullman Kurt Ullman is offline
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Default What Is a tax deduction? I'll tell you what itis ...

In article ,
" wrote:

On Sun, 19 Dec 2010 21:32:42 -0500, Kurt Ullman wrote:

In article ,
" wrote:

Wrong. Your assumption is that money if free. All the government has to
do
is print it.


My assumption was that you were talking about paying more taxes,
which as I mentioned doesn't happen. Now, you are talking inflation
which is a whole 'nother kettle of wax.


A tax is a tax, whether it's paid today or tomorrow.

Nah a tax is a tax when it is a tax. Not when it is inflation, which
can and have happened in high(er) tax environments too. All taxes have
to come from Congress, inflation comes from the actions of the Fed
(among others), and the reactions of the economy.


There is a difference between normal deductions and things like energy
credits. Energy credits are a manipulation, by the government, in the
free
market by transferring money from the treasury to an individual. They
really
do matter.

Nonsense. Deductions are manupulation, too. Look at the mortgage
deduction for instance.


That depends on the deduction, obviously. The mortgage deduction is similar,
yes.


Find one that isn't a manipulation of some sort. Heck, the deduction
by the employer of the healthcare insurance is the number 1 cause that
we are in the current trouble there. Even the deduction for some some
state taxes is to manipulate the tax code. THere is no earthly reason
for the Feds to give deductions for state taxes. I'd have to spend more
time than it is worth to look it up, but at least according to an
accountant who was also a lawyer, the only true deduction might be that
for municipal bond interest, if you buy his reading of the
constitutional requirment.

--
"Even I realized that money was to politicians what the ecalyptus tree is to koala bears: food, water, shelter and something to crap on."
---PJ O'Rourke