But it is not a enactment of "new taxes"
by Roger NC - 12/30/12 8:00 AM
In Reply to: Actually it's not, Roger by TONI H
its a relapse to a past standard.
I'll grant that the tax code needs drastic reform.
Whatever the cost of Obama care actually turns out to be, that's another subject than the "tax increase" going into effect if they don't make another deal before Jan 1.
Estates taxes might could be reduced or eliminated if we reduce the exemptions, loopholes, and legal tax shelters that so many large fortunes use to avoid taxes. You can argue about capital gains etc all you want, you can't deny that oft times the larger the income the actual lower the effective rate after all the bookkeeping.
You want a real stupid lapse? if the new farm bill isn't past milk support prices will more than double because they go back to 1950's support bill standard. The cost of production was higher then so the support was higher. That's just one extreme example of stupidity in legal procedures. How an a law that has been replaced with a newer laws can still even be a law is a good question.
I often think all laws should have expiration dates, if not voted to be renewed they should expire quietly. There are old laws that people don't want to be in the news for proposing to remove but they would just overlook the expiration with as little fanfare as possible.
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