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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (138687)	8/8/2001 8:48:07 PM
From: i-node	Respond to of 1578283

If the drilling makes sense economically go for it but there is no need to subsidize it. I certainly acknowledge a person's right to be for/against particular tax policy; but for at least 50 years the Internal Revenue Code has had just as much to do with encouraging/discouraging particular behaviors as it has collecting the revenue. As a former practicing CPA, I am personally in favor of eliminating the Federal income tax in favor of a National Sales Tax (not to start another war, but no cogent argument can be made against doing just that). I haven't reviewed the details of the legislation being discussed here; however, I would argue that if we're going to use the Code as a vehicle for redistributing wealth and making welfare payments (via the Earned Income Credit) then I think we can handle some subsidy for high risk businesses, as well...