4 ms·
If republicans wanted to make a system where people would save the most money we'd just reduce the tax loopholes and simplify the system - the system we have no
by hobs 8y ago
If republicans wanted to make a system where people would save the most money we'd just reduce the tax loopholes and simplify the system - the system we have now actually only has the wealthy pay the least money.
Some would say the republicans think this is a feature.
- rattlesnakedave 8y agoHow do you differentiate deductions from loopholes?
- dsfyu404ed 8y agoEasy. Any deduction you don't use is a loophole, legislative compromise of yesteryear or not.
- rayiner 8y agoThis is not true. There are tons of bread-and-butter deductions for the middle class. If you do a cross country comparison of taxes, the biggest difference between the US and Europe is not the rich. It’s the folks making $40-100k, where our low brackets plus tons of deductions (mortgage interest, child care, child credits, etc.) drive the effective tax rate way down
- jacobolus 8y agoFolks in Europe comparable to the ones you are talking about here (i.e. the 50th–85th percentile) are generally much more financially stable/comfortable than in the USA. Varies a lot from country to country, but in general they have e.g. more-or-less functional healthcare systems, better parental leave, more vacations, easier access to childcare, stronger worker protections, ....
- rebuilder 8y agoYou can't really compare tax rates without considering other mandatory costs like health care. Include health insurance and the numbers don't look so good for the USA.
- throw0101a 8y agoYou're not wrong, but it should be noted that in some countries (DE, CH) people also pay health insurance premiums to private companies as well. It's just in those countries health insurance is non-profit (unlike the US).
- tptacek 8y agoJust a note that the mortgage income deduction, which is a travesty, benefits high-earners far more than low-earners; something like 70% of its benefits accrue to the upper class.