[quote=CA renter][quote=all]Paying taxes on any interest seems kind of unfair to me.[/quote]

You’re not paying taxes on interest. You’re paying taxes on whatever income you have, and interest is one expense that can be deducted.

Personally, I have a much bigger problem with corporations being able to deduct all of their expenses before paying taxes, while Joe Sixpack isn’t able to do so himself. The standard deduction doesn’t come anywhere close to the cost of very basic living expenses. If corporations can deduct ongoing expenses, middle and working-class individuals should be able to deduct expenses for a basic standard of living.[/quote]

I agree with this as well…Businesses get taxed after every single expense they pay, Joe Sixpack can’t deduct a thing…

Medical expenses? It has to be more than 10% now? Are you f*cking kidding me?

At the end of the day, someone has to pay and the government realizes it’s easier to rip off the “middle-class” w-2 wage earner and Joey Sixpack than to challenge a corporation which has massive resources to work with and who contributes to their campaign.

I’ve had friends who were accountants at companies who’s sole job was to find tax loopholes to use…

This is why I’m now favoring a 0% corporate tax now since large businesses will find a way around it anyways…They already have it all offshore at 0% places and anything over 0 will prevent the money from coming back to these shores. Even if that means giving it to shareholders.

They should just raise the dividend investment tax IMO to tax the same as income…That affects the wealthy far more, is passive income and is more fair compared to taxing W-2 secretaries, etc…

This is how extremely wealthy people like Bill Gates, Buffett has like a 10% effective tax rate since so much of their income is capital gains or dividends.