Originally Posted by KC native
Are you ****ing serious? Carried interest for PE guys, transfer pricing, LPs, Swiss bank accounts (up until a few years ago), Cayman island crap like the thread I started.
Tax shelters are just as much a problem now as then. The problem is that the gop has consistently defanged enforcement agencies so the IRS goes after small fries instead of large tax cheats.
This is simply wrong. To the extent that we have economically detrimental loopholes now, we should get rid of them in exchange for lower rates just like we did when we had even more of them prior to the 1986 reform.
By the way, the problem is that democrats keep trying to crank up the top marginal rates making it far more worthwhile for wealthy taxpayers to lobby both parties for tax breaks (including campaign contributions to both parties for their "consideration").
Obamacare’s fix for an American health care system that the federal government long ago broke, is to give the federal government far more power over American health care; that its solution to escalating health costs is to mandate greater health benefits (and, hence, higher costs); and that its solution to the pricey overreliance on pre-paid health plans — offered by insurance companies in lieu of real insurance — is to have the government require Americans to buy those pre-paid health plans under penalty of law.