Rail_Gun said:

koods said:

Rail_Gun said:

Policy advocated through financial incentive is a loophole? Is this the position you are taking? I am a CPA and a tax accountant, btw. I always find it interesting when people talk ab out loopholes. Following the tax code is not a loophole. It is complying with the law. The only tax loophole I know of is unlimited percentage depletion deductions.

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Well, whatever the fuck that is, in the common vernacular, a loophole is a legal way for an entity to avoid the standard procedure. Everything in the tax code that goes beyond how much did you make, give us x% could be considered a loophole.

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In my trade, complying with the tax code is the standard procedure. Do you believe it is a loophole to pay the amount in taxes that the law says you should pay?

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koods said:

The loophole, by definition, is in the code and is legal, otherwise it is just fraud.

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koods said:

Rail_Gun said:

koods said:

Rail_Gun said:

Policy advocated through financial incentive is a loophole? Is this the position you are taking? I am a CPA and a tax accountant, btw. I always find it interesting when people talk ab out loopholes. Following the tax code is not a loophole. It is complying with the law. The only tax loophole I know of is unlimited percentage depletion deductions.

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Well, whatever the fuck that is, in the common vernacular, a loophole is a legal way for an entity to avoid the standard procedure. Everything in the tax code that goes beyond how much did you make, give us x% could be considered a loophole.

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In my trade, complying with the tax code is the standard procedure. Do you believe it is a loophole to pay the amount in taxes that the law says you should pay?

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The loophole, by definition, is in the code and is legal, otherwise it is just fraud.

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A loophole is a freaking oversight in the law that people take advantage of, such as buying psilocybin spores because they are not specifically banned and don't contain drugs.

Tax deductions and  financial incentives are just that. They are specifically placed into law to encourage certain behaviors and economic activities, such as: buying a home and donating to charity. THEY ARE NOT FREAKING LOOPHOLES, QUIT WITH YOUR ORWELLIAN DOUBLE SPEAK GOSH!   

I can't stand how ignorant and maleducated the majority of Americans are about their own damn system. That's why you are getting taken advantage of by these manipulative assholes. This whole "fiscal cliff" thing is just more political BS. They do this all the time: set a completely arbitrary deadline and huff and puff about it. I can't believe you people keep falling for it.

I will tell you what's going to happen: come Christmas (or New Years) time when no one is paying attention they will pass some atrocious laws that no one likes and the US will continue to spiral into the abyss while the Government grows more and more.

Rail_Gun said:

koods said:

The loophole, by definition, is in the code and is legal, otherwise it is just fraud.

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Examples?

If the code defines what cost of goods sold is and you follow the law in reporting your cost of goods sold, instead of reporting gross sales as profits is that a loophole in your opinion? Please help me here, because I don't know what you're talking about.

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koods said:

Rail_Gun said:

koods said:

The loophole, by definition, is in the code and is legal, otherwise it is just fraud.

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Examples?

If the code defines what cost of goods sold is and you follow the law in reporting your cost of goods sold, instead of reporting gross sales as profits is that a loophole in your opinion? Please help me here, because I don't know what you're talking about.

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You are an accountant, and you don't know what I'm talking about?  Do you not know of provisions that have clearly unintended consequences. I don't know how these multinationals manage to not pay any money to the federal government. That's your job. But, somehow it has become perfectly legal for corporations with unambiguous profits earned inside this country to not pay federal taxes. If You think that is fine, then there is nothing I can say to convince you they are doing nothing more than paying what they legally owe.  But,,please don't pretend that the code doesn't benefit some far more than others.

Wow. Three weeks ago it was the right pushing the whole loophole thing, and now I'm being Orwellian. It is impossible to have a reasonable conversation when you can't even decide what a word means. Its like you all read the memo to start questioning what a loophole is, when the word has been well understood for who knows how long.

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koods said:

zappaisgod said:

imachavel said:

DeadHearts said:

Hmm well he got re-elected so the blame would fall on the American people. It always should because the majority are a bunch of fuckin idiots.

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how can I disagree I'm pretty sure Obama will hike the fuck out of taxes, it's not possible for him to avert the fiscal cliff and slash his precious spending budget, Obama slashing his precious spending budget is like a spoiled brats parents buying him less Teramisu every night, it just won't happen without a big hissy fit.

He'll most likely hike the shit out of taxes. And guess what, the American people deserve it, as you said, for voting for such a stupid fuck. Consequences are the natural reaction from actions

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Sadly the people who voted for Obama are not going to be the ones who suffer except as a residue of remaining unemployed.

The sequestration bill has Obama's fingerprints all over it.  Not only that but it has his signature.  This fact will not be reported in almost all media.  Another Obama tax hike about to hit?  The Affordable Care Act.  Just wait 'til you see that bill.  If you work that is.  If you don't you won't see any bill.  Why do we work, again?

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Right, he signed a bill sent to him by the congress, a bill originating in the Republican controlled house. A bill that said if the congress can't agree on a budget plan, then the Bush tax cuts will vanish. The congress couldn't agree.

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VivaLaMushie said:

I agree Dark Star.
I was just talking about this last night.

I think that should be grounds for termination! Kick their ass out of their seat.

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