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 - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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