Monday, July 25, 2016
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’
* At the Tax Policy Center’s TAX VOX blog Howard Gleckman discusses “What the GOP Platform Says About Taxes”.
Thankfully, the GOP official party platform on taxes rejects much of Trump’s alleged policies –
“It endorses a territorial tax system that Trump rejects. It calls for eliminating special interest tax provisions while Trump would retain most.”
Here is what the platform says about tax reform (highlight is mine) -
“The current tax code is rightly the object of both anger and mockery. Its length is exceeded only by its complexity. We must start anew…. It cannot be engineered from the top down, but must have a common sense approach, and be simplified. Wherever tax rates penalize thrift or discourage investment, they must be lowered. Wherever current provisions of the code are disincentives for economic growth, they must be changed. We will not divide the American people into winners and losers. We will eliminate as many special interest provisions and loopholes as possible and curb corporate welfare, especially where their erosion of the tax base has created pressure for higher rates.”
Clearly the Republican policy on income taxes is the better choice. Unfortunately the party’s Presidential candidate is the worst possible choice ever.
* Keep on trucking! Did you know the IRS had a “Trucking Tax Center” web page?
* Proving once again that bloggers love lists, Kelly Phillips Erb, FORBES.COM’s TaxGirl, give us “Get Out Of The Tax Debt Doghouse: 9 Tips For A Fresh Tax Start”.
Her #9 should be #1 – “Find a great tax advisor”.
“I can’t emphasize enough that the importance of seeking out a responsive, competent tax advisor. Even if you do your own taxes, you may need someone to help you out if you run into trouble.”
If you start out by using a responsive, competent tax advisor to prepare your returns in the first place, chances are you will not run into any trouble. You can begin your search for a responsive and competent tax advisor here.
* Scott Greenberg of the TAX FOUNDATION takes on the task of “Reexamining the Tax Exemption of Municipal Bond Interest”.
THE FINAL WORD
At the beginning of the Presidential campaign I said that the most disturbing political development in my lifetime (I was born in 1953) was the fact that Donald Trump is being taken seriously as a Presidential candidate.
I now must revise that to say, as I did on Facebook –
The most disturbing political development in my lifetime - I am 62 - is the fact that dangerous, unstable, irresponsible, and irrational realty television cartoon clown Donald Trump is the official Republican candidate for the office of President of the United States.
Let me also repeat what I have posted in the past –
I very strongly believe that all Americans who care anything about freedom, democracy, civil rights, the economy, and the future of the country and the world have an obligation to publicly denounce and aggressively oppose Donald Trump and his campaign for the Presidency.
For the sake of our future this dangerous narcissist must NEVER become President of the United States!
FYI – Click here for one example of the hundreds of thousands of people who dangerous buffoon Donald Trump screwed while lining his own pockets with millions. Is this the man you want in the While House?