re: #189 Buck

Nah.

I guess my point is that there is a difference between SPECIAL industry specific tax breaks and tax breaks.

The tax break that allows oil companies to deduct their expenses is not a SPECIAL industry specific tax break.

I would like to know why we need so many tax breaks, SPECIAL or not. I heard Jon Stewart say last week that we have one of the highest actual corporate tax rates and yet one of the lowest effective corporate tax rates, due to all the deductions and loopholes present within our system. I can’t remember if he sourced that or not, and I’m at work so can’t spend the time to try and source it myself right now.

But if true, why not do away with most of those breaks/loopholes and bring the rate down to a reasonable level? Would that put too many accountants out of work? I’m no expert on these issues admittedly, so maybe I’m talking out of my ass, but that seems like a good goal to work towards.