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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1947704  
Subject: Re: Romney: not going to reduce the share of tax Date: 10/4/2012 10:36 AM
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Tax rates, however, is something that businesses have no control over. I believe that most business owners would prefer a low rate with less deductions.

It is risky though. Deductions serve a purpose. Like in the above scenario, it grew heavy truck sales, which helps the economy in it's own way.

Moving away from deductions and towards lower rates seems like a better way to go.

I would think that tax accountants would not like that. But it is small and mid sized business owners that we are concerned about.
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Many tax accountants are those small and mid-sized businesses.

Whether businesses would like the deduction vs the lower rate. Since it is revenue neutral it wouldnt' matter. They pay the same amount.

However, I think it would be bad for the economy. If I can no longer deduct something I'm certainly not going to buy it unless I absolutely have to.

I don't even know if he was talking about business deductions. That's part of the point. He says this stuff that has no meaning.

Is he going to remove Section 179 property? Accelerated depreciation?

I'm not in favor of target tax deductions, but no one is talking about that.

Jean
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