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kentuck

(115,726 posts) Wed Feb 20, 2013, 11:03 AM Feb 2013

Simpson and Bowes say there are $13 trillion dollars in tax loopholes. [View all]

They called them tax "expenditures".

If that is the case, is the best they can do is close it on only $650 billion over ten years?

Go back to the drawing board, Boys!

11 replies

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Simpson and Bowes say there are $13 trillion dollars in tax loopholes. [View all] kentuck Feb 2013 OP

$13 trillion over how many years? OceanEcosystem Feb 2013 #1

I understood it as $13 trillion dollars per year. kentuck Feb 2013 #3

That doesn't make sense. Isn't the United States' GDP something like $15 trillion a year? OceanEcosystem Feb 2013 #4

You are correct. It is over a ten-year period. kentuck Feb 2013 #6

Oh, ok, thanks. n/t. OceanEcosystem Feb 2013 #7

But why should there be a trade-off to get rid of loopholes?? kentuck Feb 2013 #8

Buttons and Bows need to retire. Get the hell out of government. Old farts have messed up enough. Lint Head Feb 2013 #2

What you said madokie Feb 2013 #5

Close a few loopholes, minimal tax on stock transactions, and raise the payroll deduction for SS.... kentuck Feb 2013 #9

pretty much Johonny Feb 2013 #10

How about just go back to the old folks home boys and let ... Ganja Ninja Feb 2013 #11