Milwaukee Journal-Sentinel Frets Crazy, Unreasonable, Fringe Self-Defense Rules (Which Seem Popular Among Their Readers) | Main | Palin's Tea Party Speech In Indianola "On Hold"
August 31, 2011

Huntsman To Produce Sweeping Changes To Tax Code, Eliminate All Deductions, Drop Top Rate to 23%

The Alternate Minimum Tax would be eliminated, but I think with all deductions removed from the code, that would almost be a fait accompli anyway. (Wouldn't it? I don't know.)

He also proposes dropping the corporate tax rate to 25%.

I expect most candidates will propose similar sorts of things. I think this is largely the tax reform envisioned by the Ryan Plan.

Getting rid of two deductions -- the home mortgage interest rate deduction, and the charitable donation deduction -- will be hard sells.

I wonder if on that latter -- the charitable deduction -- removing the deduction would actually create a better system of charity.

That is, donating money would cost more than it does now. As it stands, you can deduct these deductions (assuming you make enough to itemize) from your gross income. It's not free money, but at least you're not taxed on it.

But this makes charity a tax strategy too. I wonder if some charities which we frankly hate -- stuff like John Kerry's wife's stuff -- are mostly sustained through "tax benefit donations." And I wonder if removing the tax benefit might get rid of some not-really-charity stuff like that, while people really moved to donate to true charities would continue, because they were never even thinking about the deduction in the first place.

That's just a counterintuitive idea I had five seconds ago. The most obvious effect, the most intuitive one, would be less charitable giving of all sorts, and hence, arguably, the anti-conservative effect of less private philanthropy and, in relative terms, more government hand-outs. And of course charitable donors would be smacked twice -- not only did they give away their money in the first place, but now the government wants its cut of the money they gave away.


digg this
posted by Ace at 12:48 PM

| Access Comments




Recent Comments
Aunt Luna: "Lab in first pic has that eye-roll look as if to s ..."

Cannibal B0b : "Did I break the Interwebs? ..."

Carol: "I called Hrothgar & sent him an iMessage. He respo ..."

Cannibal B0b : "I need a Bath is that it? ..."

Cannibal B0b : "Wtf. Did animal control drag everyone off? ..."

Cannibal B0b : "And scratched behind the ears. ..."

Cannibal B0b : "I also like to be rubbed under my chin. ..."

Cannibal B0b : "50 I have been very deferential to my elderly dog ..."

Anonosaurus Wrecks, I'm Dreaming of a White Privilege: "I have been very deferential to my elderly dog who ..."

Headless Body of Agnew: " 95 I got back yesterday from the Bogleheads conf ..."

Carol: "What about one more week, Horde? My last cat died ..."

Cannibal B0b : " Yeah made the morning feeding mistake. Now its w ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64