Quote:
Originally posted by strandinthewind
I agree, it is ashame, horrible, repugnant, etc., that some, but certainly not all, corporate big wigs pad their retirements, etc. But, unless they are doing something illegal (which many do and are never caught  ), I think we are complaining to the wrong person IMO. Apparently the IRS does not care about this gross loss of revenue because they have known about the loophole for a long time and have not shut it. Moreover, Republicans and Democrats alike have bitched about it to get votes, but neither has done a whole lot to close it. Why? It seems to me that some of that legally gotten tax savings finds its way into a campaign donation in one form or another. So, as I have repeatedly said, it is not just the Republicans in the boat of corporate horribleness (  ) , the Democrats are right there with them on almost every issue. For example, the trillions of dollars in fraud that Enron, MCI, and others committed for years in the Clinton Administration - yet they were never investigated, audited, or caught.
Also, I often use the analogy of mortage interest tax deduction to make my point that taking a legal tax deduction is generally bad or unfair to the poor, yet we pretty much all do it with little care for whom it may hurt.
So, when someone fortunate enough to own a house takes the mortgage deduction off of their taxes, they are taking an elitist tax cut unavailable to everyone. To date, I know of no one who has declined these clearly elitist but perfectly legal deductions despite their apparent care for the poor
Note: I offer this in a friendly manner and not an in your face, finger snapping, I'm right your wrong way  I just hate it when people say Republicans are against the little guy and Democrats are for them. I say based on the votes, they are essentinally the same, with the Democrats coming out a little on top, but not much.
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Strand, I can't argue with much of this at all. I have been just taken aback at what I see currently happening to the lives and finances of people I know. We can all read the paper and listen to polls, but it is only real when it happens in our own lives.
Of course many Dems are in the pockets of huge corporations as well. It very well may be that they are just better at rhetorically making themselves sound better. I base my opinion that current Rep leaders are more on the side of big business on current policy decisions and a seemingly cavalier attitude about the financial scandals. That, and the anti-union bent of the party.
How I would love it if Bush came out swinging about the corporate
accounting frauds. I'd eat my shorts if he gave an impassioned speech telling those people at those companies that they are criminals of the highest order, and they will be held accountable for their actions. It would be great. He has really softballed the issue, when he ought to be out there calling to have their heads delivered on platters. I think they have done more to damage the morale and spirit of the people of this country than 9/11.
The mortgage deduction is slanted toward the wealthy. No doubt about it. I can't recall the home ownership percentage of American citizens, but I think it is around 60%. I do know that where I live that houses are far less affordable than they were 4 years ago. And that few single income households can afford to buy. That was not the case when I was growing up, and I wonder what the hell has happened. Can't pin that on a party. Something radical has changed in the way of life, though.
Perhaps if the Republican leadership made a few grand gestures that favored "the little guy" my perception could change. I just don't see that happening. I only see companies getting bigger and bigger ( thank you FCC!) and people losing more and more jobs. People I know, are, anyway.
Actually, if the Republican party hadn't been hijacked by our own little Taliban in the Reagan years, my feelings would be quite different. On most counts, I consider myself a fiscal conservative.
And no, I don't see any finger snapping from you !
