Bill Maher Quotes
We do it all the time, we legislate taste. We do it with the tax code. Churches and children get a tax break, because it's assumed that we all agree that we want to encourage churches and children. I don't. I don't. That's my opinion. I don't want to encourage either churches or children, and it's a very bad idea to put them together.
Maher, Bill. Real Time with Bill Maher. HBO, 2006.
When Congress passed the laws giving tax relief to corporations, the purpose was to tax only the profits that were made by United States operations. Congress and the President never dreamed that American corporations would be so greedy and unpatriotic that they would actually move the headquarters of an American Corporation and turn it into a foreign corporation in a country with little or no corporate taxes, and the set up their accounting system so that most of the money would be “made” by the headquarters and not by the operating companies in the U. S. or other countries that had corporate taxes.
[If a business takes other investors in to finance its growth or expansion, there are no tax consequences with the equity investment. However, if the same business borrows money from a bank, the business can deduct the interest cost of the debt from their federal and usually state taxes. If an individual buys a house and takes a large mortgage, the owner can deduct the interest from his taxes. However, if she instead does the more prudent and safe thing and puts more cash equity and takes a smaller mortgage, she only gets a small tax deduction.]
The AMT is the alternate minmum tax law which provides a monimum tax the upper middle class and moderately wealthy must pay even if they find enough loopholes and tax deductions to reduce their tax to nothing or almoist nothing. It did not rally significantly affect the taxes of the 1 percent and superrich taxpayers who still were able to avoid most taxes, Originally, it was not targted at the upper middle class, but inflation pushed them into the barackets where they were covered.
William Maher is an American comedian, political commentator, and television host. He is known for the HBO political talk show Real Time with Bill Maher (2003–present) and the similar late-night show called Politically Incorrect (1993–2002), originally on Comedy Central and later on ABC.