- Posted January 4, 2014 by
Mt. Gilead, Ohio
This iReport is part of an assignment:
Congress Letting Tax Breaks Expire
Congress is letting many non-permanent tax breaks expire, which is another one of their games and miss-management of our government. When you look at who or what these tax breaks are for you'll realize most of them are for the wealthy or their enterprises, tax breaks that should have never been given. Other "small" tax breaks that at least have some merit were given to benefit the average struggling public.
Here are some of the tax breaks that should have never been given: Film producers, race track owners, electric motorcycle manufacturers, tax break to let businesses write off capital investments faster, financial institutions doing business overseas, railroad track maintenance, imported rum, commuters using public transportation (?).
Here are some of the tax breaks with merit: Teachers who buy classroom supplies, commuters using public transportation (?), small tax break for college students.
I think after you have read just a few of what the tax breaks are Congress lets expire every year then chooses what they want to revive, add to, or make permanent when they reconvene Congress for the next year you get a pretty clear picture that Congress isn't serving the interests of the average American or those citizens needing help. You will also notice its a nice way to get corruption dollars funneled to politicians in exchange for a tax break kick-back since most of the big tax breaks involve the wealthy or their business ventures. A tax break like the one given to commuters for using public transportation is a win win situation for a politician because it serves lower income people that are more likely to use public transportation, and it serves to encourage ridership that increases the revenue being earned by the ownership of the public transportation. Now if you take this commuting tax break thing further the wealthy owners of businesses get to deduct any travel that is connected to the business including their travel costs to and from work, but the average American cannot deduct his expense traveling to and from work. However, businesses where traveling to a job charge what is called "porthole to porthole" or from the time they leave the shop until the time they return back to the shop, yet individuals traveling to and from their job site get no compensation for their time or expense involved.
It appears Congress throws equality right out the window when it comes to who gets the tax breaks and who doesn't. The equality issue was also brought to light in the Romney verse Obama presidential run when Romney's taxes became an issue and it was learned he paid a lower percentage tax rate than the majority of Americans pay because he earned his income as capital gains. How Romney earned his income ignited the debate that the rich were not paying their fair share of taxes on the huge amounts of income they reported, and the fact was they were getting a special tax break based on how the income was earned. Many people feel in all fairness how income is earned should not matter, if it is income it should be taxed at the same percentage rate levied against the masses of Americans paying income tax. When all things are considered it is clear that tax breaks in America are designed to give the wealthy elite an incredible financial advantage as individuals and in business ventures... Congress, particularly Republicans are favoring the money trail to the wealthy publicly, and Democrats are doing the same privately at considerable expense to the majority of individuals, and small to medium size business owners not at the corporate level.
Its no joke a major overhaul to a fairer tax system would go a long way to start curing the nation's debt woes, and ending a carefully crafted tax system that is financially slanted to give the wealthiest of Americans a huge financial advantage over the rest of the country.