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View Diary: It's the Tax Code Stupid!  (9 comments)

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  •  bullshit. (3+ / 0-)
    Recommended by:
    leftywright, Roger Fox, VClib

    a huge amount of the.complexity in the code is dedicated to closing loopholes.  I refer you the the passive loss rules, the hobby loss rules, and subpart f.

    •  You are right... (0+ / 0-)

      But that wouldn't have fit into the overall narrative and wouldn't address the point I was trying to emphasize, namely, a long-needed and vast overall of the entire tax code. Yes, some subsidies are good, but oil is not one. And the only time a specific  loophole is every closed, is only because one of us finds out and loudly complains. (like congress being able to trade on insider info, but even that wasn't closed). And some companies only want to close certain  loopholes that might give their competitors and edge.

      •  These guys know their shit (1+ / 0-)
        Recommended by:

        I've learned quite a bit from Johnny and VC.

        ...... Social Security blogathon March 25th thru March 29th. #HandsOffmySS FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

        by Roger Fox on Thu Feb 21, 2013 at 09:08:54 PM PST

        [ Parent ]

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