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Non-Tech : Kirk's Market Thoughts

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Kirk ©

To: Kirk © who wrote (2253)	11/14/2014 2:43:04 PM
From: robert b furman	1 Recommendation Read Replies (2) of 26786

Right, The other huge loop hole is the real estate tax free 1031 exchange. It is time that the smartest guy in the room gets eliminated. All these loop holes are legislated through lobbyist. I like that dividends and capital gains have a preferentially lower rate - it encourages investment and savings over consumption. But to swap an appreciated stock for another division of P&G and side step all taxes is just another sharpy lobbyist provided method of NOT PAYING ANYTHING - LET ALONE "YOUR FAIR SHARE". There is a lot of room for the US to have a fairer and lower tax rate. Wipe out those loop holes for all players including the mortgage interest rate deduction (why should the government be subsidizing housing?). If you dump them all - the overall rates could be reduced. There is a tremendous under the table barter system going on in the US. Trades and skill workers doing side jobs for cash - drug dealers go completely under the radar and the drug trade no doubt is billions. A consumption tax would catch it all . It could be collected for free by businesses, and wipe out the corrupt IRS ( that would make trillions and save billions. Bob

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