Posted by Andy Martin on November 26, 2015 at 06:23:14 from (209.213.149.120):
In Reply to: Cause and effect posted by Geo-TH,In on November 25, 2015 at 14:59:27:
Quoting Removed, click Modern View to see There are no "tax loopholes". just valid tax deductions voted by congress, things like you can deduct the cost of fertilizer before you pay income tax on the crop you raised and sold. Those deductions are intended to spur the economy. If tax was only on retail price of sales, the income tax rate would be a lot lower but many items (like all farm commodities) would still be taxed too heavily because the margin of sales price over total cost is too great. If farmers were allowed to deduct the cost of owning land, say even 1% of the value of land owned, they would make a lot more money. How many struggling farms have a couple of million in debt free land? (answer, the stable ones) But Congress has never voted a deduction like that, but there are deductions like that in other industries to encourage the ownership of the assets required for those industries. Years and years of manipulation makes for a complicated tax code, and none of us want to lose the deductions that allow us to be in business.
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Today's Featured Article - Engine Valves - Some Helpful Information - by Staff. Intake - On the intake stroke the piston moves doward, sucking in carburized fuel through the open intake valve. Exhaust valve is closed. Compression - With both the intake and exhaust valves closed, the pistons upward stroke compresses or squeezes the fuel into the combustion chamber. Firing - Ignited by the spark, the compressed fuel explodes and forces the piston downward on its power stroke. Intake and exhaust valves are closed. Exhaust valves and seats are exp
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