Sat Mar 22, 2014, 08:40 PM

Tax Deductions are a HUGE form of welfare, and the richest people are getting the most welfare

Tax deductions are a HUGE form of welfare. Right wingers constantly say that deductions aren't welfare, but that's bs. If one person can't afford to take a deduction (for example, the mortgage tax deduction), then that person is not keeping money.

Those people who can afford to take a deduction (say, those who are buying homes because they have money enough to buy one), are the ones getting to KEEP money rather than pay it to the maintenance of the country. Keeping money rather than paying it in to maintain the country, is the same as being sent a check in the mail.

There are more ways in which the wealthy get welfare in this video:

227 replies, 66034 views

Thread info Bookmark this thread Trash this thread

Reply to this thread

Always highlight: 10 newest replies | Replies posted after I mark a forum

Replies to this discussion thread

227 replies	Author	Time	Post
Tax Deductions are a HUGE form of welfare, and the richest people are getting the most welfare (Original post)	Sarah Ibarruri	Mar 2014	OP
And there are so many ways they can	PumpkinAle	Mar 2014	#1
Yup. The rich take deductions (welfare) in countless ways - even pleasure trips nt	Sarah Ibarruri	Mar 2014	#4
I do that. I'm not 'rich', by any means.	Ikonoklast	Mar 2014	#23
The Rich IS welfare Queen	tayeboss	Mar 2014	#2
Yup, it's not some black lady Reagan invented. It's suited CEOs making millions and all the rest nt	Sarah Ibarruri	Mar 2014	#5
Simplify the tax system	JJChambers	Mar 2014	#3
I don't think this would pass at all	yeoman6987	Mar 2014	#6
Crap I am so sorry	yeoman6987	Mar 2014	#7
No more mortgage deduction or child tax credit?	theboss	Mar 2014	#8
How did they triple?	JJChambers	Mar 2014	#10
Do you own a home or have kids?	theboss	Mar 2014	#11
I know what I pay in taxes and mine would go down with that plan	JJChambers	Mar 2014	#12
That doesn't answer my question	theboss	Mar 2014	#13
Yes, two actually (hope to change that soon)	JJChambers	Mar 2014	#14
How about limiting the value of deductions	FreeJoe	Mar 2014	#85
Median priced home for where?	NutmegYankee	Mar 2014	#135
I agree that there needs to be tax reform	SickOfTheOnePct	Mar 2014	#9
So paying tax on capital gains is OK, but deducting capital losses is welfare? That is complete BS	badtoworse	Mar 2014	#15
If you're gambling, it should be your problem and your loss completely, don't you think? nt	Sarah Ibarruri	Mar 2014	#16
If you want to look at it that way, then win or lose it's none of the government's business.	badtoworse	Mar 2014	#17
Incorrect. The govt is there to protect the nation, and the entire nation needs to be protected.	Sarah Ibarruri	Mar 2014	#18
You're very naive and uninformed about investing.	badtoworse	Mar 2014	#19
regardless...not a very nice response...is it?	Laura PourMeADrink	Mar 2014	#24
Perhaps not. I'm a serious investor and I found her attitude about this to be not very nice.	badtoworse	Mar 2014	#30
Read it too fast...thought she was talking about gambling, literally. You are	Laura PourMeADrink	Mar 2014	#106
Incorrect. Investing is a choice. My country shouldn't be penalized for your investment losses nt	Sarah Ibarruri	Mar 2014	#35
What happens when no one invests in a business?	joeglow3	Mar 2014	#42
I don't care. Let me repeat. Your choices with your excess $ is not the country's problem nt	Sarah Ibarruri	Mar 2014	#45
Like I said, the ignorance hurts.	joeglow3	Mar 2014	#47
No, what hurts is how entitled you feel to our govt "paying you" for your losses nt	Sarah Ibarruri	Mar 2014	#68
Doubling down on the ignorance I see	joeglow3	Mar 2014	#79
Arguing with the clueless is waste of time, so we're done here.	badtoworse	Mar 2014	#62
You can deduct all you want, but that money you're keeping is our country's money nt	Sarah Ibarruri	Mar 2014	#64
All your money are belong to us.	oldhippie	Mar 2014	#69
People like that keep the Cayman Islands in business.	badtoworse	Mar 2014	#74
Post of the day	joeglow3	Mar 2014	#115
What you say?	Capt. Obvious	Mar 2014	#210
AYBABTU	joeglow3	Mar 2014	#219
When an investor invests money they are using money they earned in another endeavor	Nuclear Unicorn	Mar 2014	#109
Plenty? It depends entirely on what you call middle class.	Enthusiast	Mar 2014	#202
This makes no sense.	delta17	Mar 2014	#142
Now you've lost the plot of your argument	treestar	Mar 2014	#125
Read the blather she's posted in this thread. I'm not being unfair.	badtoworse	Mar 2014	#132
You can explain your argument	treestar	Mar 2014	#134
And it was clear she has no interest in learning	joeglow3	Mar 2014	#136
Insults.	Enthusiast	Mar 2014	#203
Read	joeglow3	Mar 2014	#207
I think she understands that quite well...	badtoworse	Mar 2014	#138
Wow. The ignorance is burning	joeglow3	Mar 2014	#28
What? Are you kidding me? Your gambling losses should be my or my country's problem? nt	Sarah Ibarruri	Mar 2014	#34
The fact that you see it as gambling shows just how ignorant you are.	joeglow3	Mar 2014	#37
I don't care how you see it. Your choices with your excess money should not be my problem nt	Sarah Ibarruri	Mar 2014	#40
What if I told you that the tax code allows you to deduct actual gambling losses ...	dawg	Mar 2014	#213
I wouldn't call it gambling	hfojvt	Mar 2014	#26
Again, why should my country have to pay you for your decisions in gambling, or your choices in	Sarah Ibarruri	Mar 2014	#36
Name one investment you have made	joeglow3	Mar 2014	#39
Oh my God. Now we're getting personal here? I said that gambling should not be the country's prob	Sarah Ibarruri	Mar 2014	#41
Answer the question.	joeglow3	Mar 2014	#44
Clearly, you think your losing choices with your excess money should be protected by me	Sarah Ibarruri	Mar 2014	#46
Answer the question	joeglow3	Mar 2014	#48
Answer the question!	Enthusiast	Mar 2014	#204
Ignore questions. Who needs a back and forth conversation...	joeglow3	Mar 2014	#209
Agenda	Enthusiast	Mar 2014	#212
Words	joeglow3	Mar 2014	#214
How dare you question deductions!	Enthusiast	Mar 2014	#205
No. Speak about shit you know nothing about	joeglow3	Mar 2014	#208
Only to the extent that they should offset my winning choices.	dawg	Mar 2014	#215
I doubt the economy would melt down if the govt doesn't bail out investment losses nt	Sarah Ibarruri	Mar 2014	#222
being an economist	hfojvt	Mar 2014	#51
What do you call it when someone starts a couple businesses?	joeglow3	Mar 2014	#52
I thought it was pretty clear	hfojvt	Mar 2014	#55
The rules are the same. I did not see anyone make a delineation.	joeglow3	Mar 2014	#57
I am using the definition from an elementary economics class.	hfojvt	Mar 2014	#77
Fair enough. You are applying economic terms to finance	joeglow3	Mar 2014	#116
That wasn't clear to me ....	oldhippie	Mar 2014	#61
I'm not a tax attorney, but I don't think the U.S. govt should be "paying" people for	Sarah Ibarruri	Mar 2014	#63
what are you calling "excess" money?	hfojvt	Mar 2014	#86
Excess money. Lower income people have no excess money. nt	Sarah Ibarruri	Mar 2014	#88
So, anyone with a dollar to spare is "rich?"	joeglow3	Mar 2014	#117
Well I made	hfojvt	Mar 2014	#128
Your ignorance of the economy is astounding	joeglow3	Mar 2014	#100
I'm off to lunch, but when I return, I'll discuss how you can keep your job even if deductions	Sarah Ibarruri	Mar 2014	#103
Yeah. PLEASE explain it to me	joeglow3	Mar 2014	#107
Hurry back so you can be slapped down and insulted more.	Enthusiast	Mar 2014	#206
"This will teach you upstarts to question low low low taxes for the job creators!" I know! nt	Sarah Ibarruri	Mar 2014	#223
Tax deductions on charitable donations is NOT paying people to donate...	Adrahil	Mar 2014	#127
You can only deduct gambling losses from income taxed from gambling wins.	Drahthaardogs	Mar 2014	#59
Sorry, I was actually referring to losses in cap gains :) nt	Sarah Ibarruri	Mar 2014	#65
Oh, Jesus .....	oldhippie	Mar 2014	#71
Gambling? Who said anything about gambling?	FreeJoe	Mar 2014	#94
That would pretty much end most startup businesses that need investors.	Hoyt	Mar 2014	#78
du rec.	xchrom	Mar 2014	#20
Thanks! nt	Sarah Ibarruri	Mar 2014	#43
Cool!	Le Taz Hot	Mar 2014	#21
Who said that? Did you view the youtube, or merely posted a response just to respond something? nt	Sarah Ibarruri	Mar 2014	#38
a mortgage deduction is a tool of the rich?	DrDan	Mar 2014	#22
It favors the rich more than poor or middle class	taught_me_patience	Mar 2014	#25
the deduction is for a mortgage. Don't believe that applies renters.	DrDan	Mar 2014	#27
Does the link take into account the phase out of itemized deductions?	joeglow3	Mar 2014	#32
I can assure you that if your landlord can't deduct his mortgage, your rent will increase.	Hoyt	Mar 2014	#81
So when he/she pays off their mortgage, rent will be free right?	taught_me_patience	Mar 2014	#147
By that time, he'll be putting in big bucks to refurbish the place.	Hoyt	Mar 2014	#148
That's the argument that if you treat the rich nicely, they'll trickle down to you.	Sarah Ibarruri	Mar 2014	#162
No, that is the argument that a landlord has to cover expenses and price his apartments so as to be	Hoyt	Mar 2014	#172
Paraphrasing. You said that if the landlord was doing okay, the rents would be lower. Right?	Sarah Ibarruri	Mar 2014	#174
Mostly	hfojvt	Mar 2014	#29
I'm hardly rich and the deduction is a big deal for me	NutmegYankee	Mar 2014	#49
I dislike it when people say "I am hardly rich"	hfojvt	Mar 2014	#53
Household income of 89K.	NutmegYankee	Mar 2014	#60
with a household of one	hfojvt	Mar 2014	#129
For personal income, yes.	NutmegYankee	Mar 2014	#131
but even in Connecticut	hfojvt	Mar 2014	#152
So what is your point?	NutmegYankee	Mar 2014	#153
I would say rich, rather than wealthy	hfojvt	Mar 2014	#194
Well then, let me go get my monocle and tailored suit.	NutmegYankee	Mar 2014	#195
right - but that standard deduction has doubled in the last 20 years or so	DrDan	Mar 2014	#54
actually it has not	hfojvt	Mar 2014	#67
married filing jointly was $6200 in '93, or $9,995 adjusted	DrDan	Mar 2014	#108
Deductions for charitable giving should go away?	Ilsa	Mar 2014	#31
Of course they should. Why should someone get money from charity? Either it's charity, or it's not	Sarah Ibarruri	Mar 2014	#33
No one gets any money by donating to charity	mainer	Mar 2014	#113
So are you saying that you wouldn't give charity if you couldn't get $ advantages from it?	Sarah Ibarruri	Mar 2014	#163
I give lots to charity, out of generosity.	mainer	Mar 2014	#180
Let me tell you what charity is NOT	Sarah Ibarruri	Mar 2014	#182
The only thing I expect in return is a thank-you note	mainer	Mar 2014	#184
Deduction is what you get in return. Look, don't bother responding.	Sarah Ibarruri	Mar 2014	#186
I know what I'm talking about, because I'm the one who writes the checks.	mainer	Mar 2014	#188
You are repeating the very words Republicans say. Goodbye. nt	Sarah Ibarruri	Mar 2014	#190
That's her bottom line ....	oldhippie	Mar 2014	#192
Charities oppose eliminating estate taxes and	Ilsa	Mar 2014	#137
How does getting back 50% change the fact you've given 100%?	mainer	Mar 2014	#181
Yes, they are still out money.	Ilsa	Mar 2014	#183
It doesn't lower my tax bracket	mainer	Mar 2014	#187
Most of us give from the heart, I think.	Ilsa	Mar 2014	#189
Childfree folks should get a tax credit, IMO	PasadenaTrudy	Mar 2014	#50
Also by helping to remove the sanctimony gene from the pool. So thanks. nt	Dreamer Tatum	Mar 2014	#56
however, you are not adding to the taxpayer pool - who will pay taxes in the future?	DrDan	Mar 2014	#58
People will never stop breeding...	PasadenaTrudy	Mar 2014	#121
I can understand both sides	DrDan	Mar 2014	#123
I'm on board with that. If those with kids get a deduction, why not us?	Sarah Ibarruri	Mar 2014	#72
Agreed.	Vashta Nerada	Mar 2014	#101
THANK YOU	Skittles	Mar 2014	#143
Leave it to me	PasadenaTrudy	Mar 2014	#144
So you think me giving less of my income to Fed Tax ....	oldhippie	Mar 2014	#66
I believe taxes are too high on the working poor and middle class BECAUSE those who have	Sarah Ibarruri	Mar 2014	#70
I believe ....	oldhippie	Mar 2014	#73
I believe that you don't know squat about economics, but you like your excess money - a lot nt	Sarah Ibarruri	Mar 2014	#76
I believe you like my "excess money" .....	oldhippie	Mar 2014	#80
Right on the money! Brilliant!	badtoworse	Mar 2014	#141
You believe many of the working poor are making money from the EITC	joeglow3	Mar 2014	#83
I should've known you were in the business. lol So is my brother-in-law, which is why I know what	Sarah Ibarruri	Mar 2014	#90
Nice job of not addressing my point	joeglow3	Mar 2014	#95
Without deductions you'd have no job. Let's examine it from that angle! :-P nt	Sarah Ibarruri	Mar 2014	#98
I am a CPA with a strong understanding of GAAP	joeglow3	Mar 2014	#102
Deductions are just a way to encourage positive behaviors	LittleBlue	Mar 2014	#75
Some deductions are abusive, but I basically agree. And, one thing a lot of folks miss is	Hoyt	Mar 2014	#84
Charity is such a scam	Sarah Ibarruri	Mar 2014	#87
Look, if I had $100,000 to give, I'd get a deduction "returning" $35,000, I'd still be out $65,000.	Hoyt	Mar 2014	#91
So you think I (and the others in the U.S.) should "pay" you for giving charity? Excuse me?	Sarah Ibarruri	Mar 2014	#93
No one is paying me (because I'm not taking that deduction). The government is saying we value	Hoyt	Mar 2014	#97
The govt is keeping you from having to pay what you would've paid. Therefore, it's paying you. nt	Sarah Ibarruri	Mar 2014	#99
I would still be contributing a net $65,000. Are you against orphanages getting contributions?	Hoyt	Mar 2014	#104
No	SickOfTheOnePct	Mar 2014	#120
Taking less of your money isn't "paying you" at all. n/t	EX500rider	Mar 2014	#130
YOU aren't paying anything.	Nuclear Unicorn	Mar 2014	#139
It's no use trying to explain ....	oldhippie	Mar 2014	#126
Okay, here is the issue	LittleBlue	Mar 2014	#92
It boils down to money the govt is giving you, and the govt should not be in the business of handing	Sarah Ibarruri	Mar 2014	#96
Here is the way I think about it	LittleBlue	Mar 2014	#114
The government isn't giving people money when people donate to charity.	Nuclear Unicorn	Mar 2014	#140
And that's something a lot of people don't understand	mainer	Mar 2014	#110
You know, people don't just give their "garbage"	YarnAddict	Mar 2014	#171
Maybe not everyone, but LOTS of people give their trash, stuff that belongs in a dumpster nt	Sarah Ibarruri	Mar 2014	#175
Some deductions are necessary	FreeJoe	Mar 2014	#82
Truthfully, I think that is OK with some short-sighted folks.	Hoyt	Mar 2014	#89
Deductions let you keep more of the money YOU earned	mainer	Mar 2014	#105
So you are against taxes then. Am I correct? Because if you consider that YOUR money,	Sarah Ibarruri	Mar 2014	#165
The poster never said anything about eliminating all taxes.	Nuclear Unicorn	Mar 2014	#173
Never said I was against taxes. I only argue with your definition	mainer	Mar 2014	#179
You can argue all you want. The money the country needs to survive needs to come from us...	Sarah Ibarruri	Mar 2014	#185
I pay the maximum tax rate.	mainer	Mar 2014	#191
I'm merely saying that those who have plenty to live on, should get no deductions. nt	Sarah Ibarruri	Mar 2014	#193
Is any money you earn and the government doesn't take 'welfare'?... n/t	PoliticAverse	Mar 2014	#227
Allowing people to keep more of their own money	YarnAddict	Mar 2014	#111
You obviously didn't watch the youtube video. nt	Sarah Ibarruri	Mar 2014	#166
So how do you feel about the EITC? n/t	YarnAddict	Mar 2014	#168
I'm fine with that. They need it. Did you watch the video or not? nt	Sarah Ibarruri	Mar 2014	#176
I don't tax with you!	Throd	Mar 2014	#112
Another one that didn't watch the youtube, but merely responded in a knee-jerk response nt	Sarah Ibarruri	Mar 2014	#167
Tax Deductions aren't what you think	Token Republican	Mar 2014	#118
The real beneficiaries of the mortgage tax deduction	TexasBushwhacker	Mar 2014	#170
Giving the richest and large corporations welfare through deductions, low maximum tax rates,	indepat	Mar 2014	#119
I understand deductions, but not tax rates	joeglow3	Mar 2014	#150
Is not the effective corporate tax rate just +/- 7%?	indepat	Mar 2014	#196
I can't speak for all companies.	joeglow3	Mar 2014	#197
GE reportedly pays no FIT on an income probably many multiples that of your Fortune 500 company	indepat	Mar 2014	#198
But, you are being misled	joeglow3	Mar 2014	#199
Many thanks. Knew some but not all these tidbits.	indepat	Mar 2014	#225
Absolutely! nt	Sarah Ibarruri	Mar 2014	#161
What a fantastic video!!! Posted to Facebook.	WhaTHellsgoingonhere	Mar 2014	#122
Thank you so much. Keep passing it around. nt	Sarah Ibarruri	Mar 2014	#159
Here's what I wrote on my Facebook page	WhaTHellsgoingonhere	Mar 2014	#177
Wow, that's awesome! Thank you! nt	Sarah Ibarruri	Mar 2014	#178
Good point	treestar	Mar 2014	#124
Exactly. No homeless or poor person would be able to buy a house and get that welfare nt	Sarah Ibarruri	Mar 2014	#160
There has been some interesting post here. On home mortgage interest deduction,	Thinkingabout	Mar 2014	#133
Let's Tax Offshore Wealth	Octafish	Mar 2014	#145
+1. Have no use for folks who made money here and hid it.	Hoyt	Mar 2014	#149
I'd be all for that. nt	Sarah Ibarruri	Mar 2014	#158
I heard from Thom Hartman that	Lunacee_2013	Mar 2014	#146
Lunacee - I would be very interested in reading about that. Wouldn't surprise me! nt	Sarah Ibarruri	Mar 2014	#157
Here's a link (sorry I don't know how to make it small):	Lunacee_2013	Mar 2014	#200
No kidding	gopiscrap	Mar 2014	#151
Exactly. The same ones whining about the poor and homeless are bleeding the country dry nt	Sarah Ibarruri	Mar 2014	#156
I wish I could rec this a thousand times! One of the most important	Rex	Mar 2014	#154
Thank you! Corporate welfare is like a broken faucet from which the water is shooting out non-stop	Sarah Ibarruri	Mar 2014	#155
It would! Nobody wants to talk about it, but boy do they love to beat up on	Rex	Mar 2014	#164
They're like the Nazis - creating scapegoats so no one realizes what THEY are doing. nt	Sarah Ibarruri	Mar 2014	#169
k&r for the truth. n/t	Laelth	Mar 2014	#201
Most business deductions are 100% necessary.	dawg	Mar 2014	#211
it sounds like she wouldn't let you deduct business losses	mainer	Mar 2014	#216
Her heart's in the right place.	dawg	Mar 2014	#218
The more you spend, the more you save.	Boom Sound 416	Mar 2014	#217
For every dollar you spend, you save ... like 35 cents. Do that long enough and ...	dawg	Mar 2014	#220
Agreed. But my comment is about incentive,as well as,	Boom Sound 416	Mar 2014	#221
As a tax CPA, I laughed and appreciate your comment	joeglow3	Mar 2014	#224
"Write it off what?!"...	PoliticAverse	Mar 2014	#226

Response to Sarah Ibarruri (Original post)

Sat Mar 22, 2014, 08:42 PM

PumpkinAle (1,210 posts)

1. And there are so many ways they can

make those deductions.

I only just found out that as well as "claiming" cars are "company cars" they can claim back the tax paid on gas.

No wonder they don't want to give up what they have - because they have so much more than they and the "peons" know.

Tax Deductions are a HUGE form of welfare, and the richest people are getting the most welfare

1. And there are so many ways they can

4. Yup. The rich take deductions (welfare) in countless ways - even pleasure trips nt

23. I do that. I'm not 'rich', by any means.

2. The Rich IS welfare Queen

5. Yup, it's not some black lady Reagan invented. It's suited CEOs making millions and all the rest nt

3. Simplify the tax system

6. I don't think this would pass at all

7. Crap I am so sorry

8. No more mortgage deduction or child tax credit?

10. How did they triple?

11. Do you own a home or have kids?

12. I know what I pay in taxes and mine would go down with that plan

13. That doesn't answer my question

14. Yes, two actually (hope to change that soon)

85. How about limiting the value of deductions

135. Median priced home for where?

9. I agree that there needs to be tax reform

15. So paying tax on capital gains is OK, but deducting capital losses is welfare? That is complete BS

16. If you're gambling, it should be your problem and your loss completely, don't you think? nt

17. If you want to look at it that way, then win or lose it's none of the government's business.

18. Incorrect. The govt is there to protect the nation, and the entire nation needs to be protected.

19. You're very naive and uninformed about investing.

24. regardless...not a very nice response...is it?

30. Perhaps not. I'm a serious investor and I found her attitude about this to be not very nice.

106. Read it too fast...thought she was talking about gambling, literally. You are

35. Incorrect. Investing is a choice. My country shouldn't be penalized for your investment losses nt

42. What happens when no one invests in a business?

45. I don't care. Let me repeat. Your choices with your excess $ is not the country's problem nt

47. Like I said, the ignorance hurts.

68. No, what hurts is how entitled you feel to our govt "paying you" for your losses nt

79. Doubling down on the ignorance I see

62. Arguing with the clueless is waste of time, so we're done here.

64. You can deduct all you want, but that money you're keeping is our country's money nt

69. All your money are belong to us.

74. People like that keep the Cayman Islands in business.

115. Post of the day

210. What you say?

219. AYBABTU

109. When an investor invests money they are using money they earned in another endeavor

202. Plenty? It depends entirely on what you call middle class.

142. This makes no sense.

125. Now you've lost the plot of your argument

132. Read the blather she's posted in this thread. I'm not being unfair.

134. You can explain your argument

136. And it was clear she has no interest in learning

203. Insults.

207. Read

138. I think she understands that quite well...

28. Wow. The ignorance is burning

34. What? Are you kidding me? Your gambling losses should be my or my country's problem? nt

37. The fact that you see it as gambling shows just how ignorant you are.

40. I don't care how you see it. Your choices with your excess money should not be my problem nt

213. What if I told you that the tax code allows you to deduct *actual* gambling losses ...

26. I wouldn't call it gambling

36. Again, why should my country have to pay you for your decisions in gambling, or your choices in

39. Name one investment you have made

41. Oh my God. Now we're getting personal here? I said that gambling should not be the country's prob

44. Answer the question.

46. Clearly, you think your losing choices with your excess money should be protected by me

48. Answer the question

204. Answer the question!

209. Ignore questions. Who needs a back and forth conversation...

212. Agenda

214. Words

205. How dare you question deductions!

208. No. Speak about shit you know nothing about

215. Only to the extent that they should offset my winning choices.

222. I doubt the economy would melt down if the govt doesn't bail out investment losses nt

51. being an economist

52. What do you call it when someone starts a couple businesses?

55. I thought it was pretty clear

57. The rules are the same. I did not see anyone make a delineation.

77. I am using the definition from an elementary economics class.

116. Fair enough. You are applying economic terms to finance

61. That wasn't clear to me ....

63. I'm not a tax attorney, but I don't think the U.S. govt should be "paying" people for

86. what are you calling "excess" money?

88. Excess money. Lower income people have no excess money. nt

117. So, anyone with a dollar to spare is "rich?"

213. What if I told you that the tax code allows you to deduct actual gambling losses ...