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View Diary: Apple launches iRomney (62 comments)

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  •  The notion that there is no such thing (0+ / 0-)

    as a loophole, ie, that corporations rarely take advantage of tax evasions which the tax code does not anticipate, is a little difficult for me to accept; perhaps it's my own prejudice, but that seems to grant a competence to the tax code that I'm reluctant to award.

    Your override certainly sounds practical (if somehow naggingly inelegant) to me. It may indeed be a workable solution, for now.

    But I hope you'll forgive me if I continue to hope for a cultural revolution.

    •  Go for it, brother! It's not "competence" in ... (0+ / 0-)

      ... the tax code or lack thereof, it's intentionality.

      True, the supporters and those who voted for this-and-that provision might not have realized or been told what all it might be used for, but there is intentionality there.

      There aren't "gaps" in the code. Basically, income is taxed, unless it isn't.
      If you're a taxpayer who needs something - some special provision to cover your special case - you get a lobbyist.

      My favorite is the provision - many, many years ago, and probably no longer part of the tax law - so incredibly arcane that for quite a while, no one was able to figure out who benefited from it. Turns out the sole beneficiary was a radio station. The first letters of each applicable paragraph of the tax code spelled out the call letters of the station. Now that is an elegant tax provision!

      2014 IS COMING. Build up the Senate. Win back the House : 17 seats. Plus!

      by TRPChicago on Sat May 25, 2013 at 04:43:44 PM PDT

      [ Parent ]

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