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View Diary: Conservative pundit explains why Republicans are screwed on taxes (137 comments)

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  •  Here's another problem (3+ / 0-)

    with the deduction cap. Romney was proposing it with a 20% tax cut. Without that a deduction cap would hurt more than keeping the Bush Tax cuts for self employed people---IOW the smallest of small businesses.

    In my case, as a self employed family, we can deduct our insurance costs which are almost equal to our mortgage costs, and if we couldn't we wouldn't be able to afford our insurance, not to mention our house payments.

    And so yes, unless that cap is so high it only applies to the wealthy, a deduction cap is witchy territory.

    "A typical vice of American politics is the avoidance of saying anything real on real issues." Theodore Roosevelt.

    by StellaRay on Tue Nov 13, 2012 at 09:32:16 AM PST

    [ Parent ]

    •  We need to insist on defining (0+ / 0-)

      "Small Business."

      The Repubs, I read one place meant those with fewer than 100 owners. I've also heard those with fewer than 10 owners. I have also heard those with receipts of less than $10 million or $5 million a year.

      The "small business" label seems to have a lot of room for hedge fund and investment brokers. The last preference bill, the one about not investing on insider knowledge for legislators had an exclusion for relatives. I call it the Mrs Eric Cantor Protection Act. It could be called the Eric Cantor and Paul Ryan Enrichment Act.

      Apparently the "Small Business" label will be fashioned to cover the Koch Brothers' Empire.

      I'm asking you to believe. Not in my ability to bring about real change in Washington ... *I'm asking you to believe in yours.* Barack Obama

      by samddobermann on Tue Nov 13, 2012 at 06:50:14 PM PST

      [ Parent ]

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