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Originally Posted by Relentless
Im all for a tax benefit on those investments... with a limit.
Reducing your tax burden by 5 or perhaps 10 percent by using your money to benfit society is a plausible goal.
Reducing it by 20 or 30 percent is abusive.
It works the same way on the sales tax arena where tax policy can be a useful incentive.
Soda should be taxed more than water, fast food more than supermarket vegetables.
Taxes can and should be used to encourage or discourage behavior.
If they tax soda 10% more than bottled water that makes some sense.
If they tax soda 80% more than water it stops making sense.
An 'absolute tax rate' that limits the total of all deductions, exclusions and credits to a minimum allowable rate is a simple and useful mechanism.
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I don't have enough knowledge or experience with financing municpal bonds to debate those numbers. I do know that in the large view,we really aren't talking about enough money to make a difference in reducing the national debt.
Moving back to the original topic. This administration is making this a class warfare issue to solidify his base. As far as a solution it's at best, weak.