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Old 02-06-2013, 02:17 PM   #116
patteeu patteeu is offline
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Quote:
Originally Posted by BigRedChief View Post
I believe that the two examples I gave qualify for your criteria.
Your oil subsidies example has big problems.

Quote:
Originally Posted by BigRedChief View Post
The Oil companies are making $30-40 BILLION in profit every year. If we stop the $3-4 BILLION in corporate welfare, they will be fine.
As seems to be so often the case, you've been manipulated by your liberal media bubble. It would do you a lot of good on this subject to read this Forbes article. It explains that the three largest components of that $4 billion number that you're bandying about are (1) the Strategic Petroleum Reserve (~$1 billion), (2) tax exemptions for farm fuel for vehicles that don't use our roads (~$1 billion), and (3) the Low Income Home Energy Assistance Program ($570 million).

Of the "subsidies" that go directly to the oil companies, a large chunk of it is due to general tax breaks that are not specific to the oil companies. Whether these should even be considered subsidies or not is a question worthy of investigation, but if they are, there's no reason to penalize the oil companies specifically. This is just another example of your party trying to micromanage the economy (or more accurately, in this case, they're just pandering to their emotional base) through targeted tax code manipulation.

Quote:
Originally Posted by BigRedChief View Post
If we limit mortgages on the 2nd home to $500K, the economy will not be hurt. They can still buy the first house at $20 million house and take all the mortgage dedututions.
I have less problem with this one, but it smells of the same class warfare that seems to drive all of your party's tax proposals. I'm not necessarily against it, but I'm looking for reforms that grow the economy not reforms that punish rich people or focus on a quick cash grab.

Quote:
Originally Posted by BigRedChief View Post
Farm subsidies, WTF are we paying BILLIONS to corporations and farmers to NOT grow anything on their land?
I'm no expert on farm subsidies, but in general I'm in favor of minimizing all industry specific special tax treatment.
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