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Author Topic: Serious Tax Reform isn't Necessary  (Read 172 times)

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hog.goblin

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Serious Tax Reform isn't Necessary
« on: July 25, 2017, 09:44:33 am »

Until the IRS can stop basic cheating and tax refund fraud.

https://www.accountingtoday.com/news/tax-fraud-involving-prisoners-remains-a-major-problem

"More than 24,000 fraudulent tax returns were filed in 2015 using a prisonerís Social Security Number, claiming refunds totaling over $1.3 billion, according to a new report."

They only cashed in on a fraction of it (if the IRS says $7.3 Million then it was likely about $50 Million, to be corrected in a report 6 months from now...). 

There are so many places where we have tax fraud and tax cheating that would be easy to clean up.  Then we can see what revenue really is, THEN discuss major tax reform.

Right now we have all this talk about overhauling the engine, but we have a flat tire, need a paint job, and the windshield wiper fluid is empty.
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HawgWild

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Re: Serious Tax Reform isn't Necessary
« Reply #1 on: July 25, 2017, 11:25:08 am »

I agree. Let's get this cleaned up first and then see what's needed. Same with Medicaid and a host of other government programs..
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Vantage 8 dude

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Re: Serious Tax Reform isn't Necessary
« Reply #2 on: July 25, 2017, 12:37:01 pm »

No doubt tax reform would be helpful over the long run. However, as has been pointed out, there are also other issues that need addressing as well. When it comes right down to it, however, the main thing that will continue to influence market performance for the SHORT run are earnings, revenue and sales growth. Without those the fundamentals for further gains really starts running short of fuel.
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