4 ms·

So the republicans are in favor of closing tax loopholes now? Oh right, this is for consumers. I thought I woke up in an alternate universe where congress wasn

So the republicans are in favor of closing tax loopholes now? Oh right, this is for consumers. I thought I woke up in an alternate universe where congress wasn't bought and paid for.

Turing_Machine 14y ago
This has nothing to do with "Republicans" (or Democrats, for that matter). It's high sales tax states v. low sales tax states.
- mullingitover 14y ago
  The money the states are losing to lost sales tax revenues pale in comparison to the money lost to esoteric corporate tax loopholes. Those loopholes were sacrosanct to the republicans in recent negotiations over the debt ceiling, tantamount to a tax increase. In this case apparently it's ok with (many of) them.
  - duck 14y ago
    The money lost to esoteric corporate tax loopholes pale in comparison to the money lost to entitlements.
    - mullingitover 14y ago
      The thing about money "lost" to entitlements is that it's not really lost. It's spent immediately and generally contributes a great deal to the economy. On the other hand, money lost to tax loopholes generally ends up enriching people who are already wealthy and are less likely to circulate the extra capital.
  - twoodfin 14y ago
    Not that it matters at this point, but "closing loopholes" was not President Obama's tax position during the debt ceiling negotiations. He cleverly made a big deal about a penny-ante change to private jet depreciation, but the meat of his proposal was a combination of higher rates and lower deductions for high earners. Neither of which could be properly described as loophole-closing.
smackfu 14y ago
One of the Republicans constitutencies is small business owners, and they generally like the internet sales tax proposals, since it makes them more competitive with online stores.
- mullingitover 14y ago
  True, but another republican core constituency is people who hate paying taxes, and I argue that it's a more important constituent group than the small business lobby. This might seem like a good move for the republicans now, but I suspect they'll regret it in primary season when their challenger can paint them as "the incumbent, who brought sales taxes to the internet."

So the republicans are in favor of closing tax loopholes now? Oh right, this is for consumers. I thought I woke up in an alternate universe where congress wasn't bought and paid for.

Turing_Machine 14y ago

This has nothing to do with "Republicans" (or Democrats, for that matter). It's high sales tax states v. low sales tax states.

mullingitover 14y ago
The money the states are losing to lost sales tax revenues pale in comparison to the money lost to esoteric corporate tax loopholes. Those loopholes were sacrosanct to the republicans in recent negotiations over the debt ceiling, tantamount to a tax increase. In this case apparently it's ok with (many of) them.
- duck 14y ago
  The money lost to esoteric corporate tax loopholes pale in comparison to the money lost to entitlements.
  - mullingitover 14y ago
    The thing about money "lost" to entitlements is that it's not really lost. It's spent immediately and generally contributes a great deal to the economy. On the other hand, money lost to tax loopholes generally ends up enriching people who are already wealthy and are less likely to circulate the extra capital.
- twoodfin 14y ago
  Not that it matters at this point, but "closing loopholes" was not President Obama's tax position during the debt ceiling negotiations. He cleverly made a big deal about a penny-ante change to private jet depreciation, but the meat of his proposal was a combination of higher rates and lower deductions for high earners. Neither of which could be properly described as loophole-closing.

smackfu 14y ago

One of the Republicans constitutencies is small business owners, and they generally like the internet sales tax proposals, since it makes them more competitive with online stores.

mullingitover 14y ago
True, but another republican core constituency is people who hate paying taxes, and I argue that it's a more important constituent group than the small business lobby. This might seem like a good move for the republicans now, but I suspect they'll regret it in primary season when their challenger can paint them as "the incumbent, who brought sales taxes to the internet."