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URL:  http://boards.fool.com/finally-to-really-drive-this-point-home-do-30431369.aspx

Subject:  Re: An interesting Fiscal Cliff observation Date:  12/14/2012  2:22 AM
Author:  rubberthinking Number:  411269 of 458977

...Finally, to really drive this point home — do you know how much the loopholes, subsidies, and targeted tax tricks for the 5,000 largest businesses in this country costs us in the deficit each year? More than $1.5 trilion. Cutting all that and putting an end to lending money to banks at 0% and borrowing it from them at 2% along with a simple scaling tax rate on all income and/or purchases and/or assets in this country would instantly eliminate the entire deficit, would enable an immediate surplus and paying back of the existing debt, and full funding of a non-insurance-based universal health-care system.

NH,

I think the statement has plenty of truth to it. And I wish the US economy was doing better so the deductions and loopholes were greater yet.....so would the tax receipts be greater then......

If we took away businesses expensing and deduction etc their costs.....the economy would shrink.....

as taxes are raised deductions should be increased as well.

What good is capital if it only goes into hedge funds? what good is capital if it is not put to work to productive ends?

Dave
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