This was years ago, I think during the early [Ronald] Reagan years. I came up with a plan that everybody just pay $8.95 in taxes. Cheating would be allowed. But the incentive to cheat wouldn't be nearly as great if you only had to pay the $8.95. There were a few people who would have to pay hundreds of millions of dollars under this plan. I think it was Mark Goodson and Bill Todman, the guys who do the quiz shows. But almost everybody else would be off really cheap.
Accelerated depreciation helps companies bring forward capital-intensive investments by reducing payback time. It's not a hand out. Companies still have to pay the tax, but they simply get to defer it.
Investor demand for distressed property has been healthy, as rents rise to levels that can cover investors' costs while they wait for properties to appreciate. Giving investors a small tax break should further juice up demand, supporting prices for distressed homes and the market in general.
Whenever you find a tax loophole, someone else is going to call it a tax incentive.
At the time Rangel was the Chairman of the House Ways & Means Committee which had jurisdiction over tax matters.
When we think of entitlement programs, Social Security and Medicare immediately come to mind. But by any fair standard, the holy trinity of United States social policy should also include the mortgage-interest deduction - an enormous benefit that has also become politically untouchable.
I live in Vermont, and we don't have a tax incentive there, and therefore, we don't have professional crew there.
Lawmakers misrepresent the facts when they call the manufacturing deduction known as Section 199 - passed by Congress in 2004 to spur domestic job growth - a 'subsidy' for oil and gas firms. The truth is that all U.S. manufacturers, from software producers to filmmakers and coffee roasters, are eligible for this deduction.
I am aware of what the position is in the United States of America. If somebody gives to charity, then he gets a tax incentive, provided the charity is registered in terms of the law.
Donald Trump have proposed an approach that has a $4 billion tax benefit for your family.
In the United States, if you buy a property and you're a good citizen, and you improve that property, what do they do to you? They tax you more. So they penalize you for good behavior.
In providing this $5,000 tax credit for those purchasing rural homes, we're offering an important incentive to encourage people to live in smaller communities - and perhaps even stay in a community they might be considering leaving.
The tax rate of 35 percent is impossible to provide an incentive to the large corporations, that have $1.7 trillion offshore, to put their money back in the United States.
If you behave like a good citizen, and you upgrade and improve your property, your reward will be the government will take more money from you. So using that analogy, you should let your house become the shithole on the block and they'll reduce your taxes and you'll pay less. Be a bad citizen with your neighbors, right? You'll save money then.
A greater tax deduction for students is not a handout. On the contrary, it helps those who are willing to meet the challenges of higher education to invest in our collective future.
The precise point at which a tax deduction becomes a 'loophole' or a tax incentive becomes a 'subsidy for special interests' is one of the great mysteries of politics.
I could get you to smile like that, and without sales tax.
If we raise taxes on corporations, what incentive will they have to make money other than the fact that it's the sole reason they exist.
We must start now to provide additional stimulus to the modernization of American industrial plants I shall propose to the Congress a new tax incentive for businesses to expand their normal investment in plant and equipment.