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Re: LexTrader post# 560312

Wednesday, 03/04/2015 10:23:32 PM

Wednesday, March 04, 2015 10:23:32 PM

Post# of 648882

Nope across the board cuts, reduce corporate tax rates, close loop holes. Stop attacking the rich who produce jobs. Cut the waste and eliminate many federal depts.

Across the board cuts will never work. Defense spending could easily be cut by 20-30% and its the largest component of discretionary spending and thus needs to be cut more than other areas.

The richest people in America do not create jobs -- Companies / innovation / ideas create jobs not rich people. No hedge fund manager has created more than a couple dozen jobs in their entire career and the billions they make annually shouldn't be taxed at 15% rates compared to other hard working Americans paying much higher rates (35+%) and making far less. Let's apply some common sense to this mess and even the playing field.

Reforming the tax code will take at least many years if not a lot longer (decade +) to accomplish. There's no easy way to simplify the current tax code in any way that would not have massive impacts on the economy, including significant impacts on the employment of millions of people.


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