In response to:

New GAO Study Focuses on Make-Believe Tax Expenditures

Daniel436 Wrote: Apr 17, 2013 9:16 AM
I agree with you that depreciation is not a loophole, but I disagree with you assessment of depreciation overall. It is perfectly preferable and valid for a company to expense a corporate jet over it's useful life. Expenses should be matched against the revenue or savings they generate, not expensed in the year that they are made. The problem I have is that depreciation decisions are too often made with an eye towards TAX consequences rather than sound accounting principals. This is one reason that ALL corporate income taxes whould be eliminated, and then dividend and interest payments could be considered ordinary income.
David4 Wrote: Apr 17, 2013 12:08 PM
We will have to break the association {Corporations, Rich fat cats} before we can do that.
Colonialgirl Wrote: Apr 17, 2013 2:29 PM
Another stupid troll spews its brainlessness.

I’m very leery of corporate tax reform, largely because I don’t think there are enough genuine loopholes on the business side of the tax code to finance a meaningful reduction in the corporate tax rate.

That leads me to worry that politicians might try to “pay for” lower rates by forcing companies to overstate their income.

Based on a new study about so-called corporate tax expenditures from the Government Accountability Office, my concerns are quite warranted.

The vast majority of the $181 billion in annual “tax expenditures” listed by the GAO are not loopholes. Instead,...