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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (50221)	8/4/2013 3:53:04 PM
From: i-node	Read Replies (2) \| Respond to of 85487

>> I understand vey well. No, you don't. >>The tax laws are lobbied into existence by billionaires for their benefit. Can you prove this? In fact, do you have ANY support at all for this statement? Did "billionaires" lobby for the IRC Section 32 Earned Income Tax Credit, which gives away billions annually to the lowest paid earners? Did IRC Section 1034 (Tax Deferral on Sale of Personal Residence) - limited in amount to well below that which would apply to any billionaire? What about the limitations imposed on IRA contributions? The capital gain provisions of the Internal Revenue Code predated the first billionaire and in fact, were enacted shortly after the 16th Amendment came into existence because it was recognized that failure to do so would be economically disastrous for a large swath of taxpayers. And it has pretty much been there ever since (with a couple of very brief exceptions -- and there is a reason it was put back in). So, you show me ANY evidence that the capital gain provision is a product of billionaire lobbying.