Congress' Offers Americans some more Tax Breaks
April 2015 will be a strenuous time for many Americans looking for some much needed respite from all the tax work. But Congress’ actions over the past few days can have a huge impact on how they see their taxes being deducted in the next year. The US tax code is pretty complicated, and one would expect the nation’s leaders to do something about it when they sit down to make some hard decisions.
But the accounting industry are huge contributors to Obama and the Democrats so a complicated tax code is what America has.
Congress will lower taxes even more in 2015 – or try to!
The American Congress realizes that Americans have never been under such tax pressure before. Taxes are up across the board on every category to pay for Obamacare. Congress will lower taxes even more or try to since the President may veto their tax cut agenda but many people say let the President do that so that is on his record for eternity. Tax breaks this time around are going to owners of thoroughbreds and to NASCAR.
The Democrats are banging their fists on the door and saying these tax breaks will add to the national debt but anyone who believes this probably believes the EPA does not kill jobs or that the American southern border is actually secure. It has been proven throughout time that when governments lower taxes it is better for the economy and since that stimulates the economy, the government actually still benefits. It is a win win situation.
But the Democrats do not see it this way since they are the ones who want that control and power and do not want to give up any of their power to the private sector at all. If they want to do something about it, they should lower income taxes across the board and balance a budget. They can also look at the cost of health care for all Americans and how it has deteriorated for them but has been accompanied with higher health care taxes and costs for everyone. This is something worth banging your fists on and there are many tax lawyers to just that.
America is being hit hard
Some tax lawyers say that temporary tax cuts are not that beneficial for the American economy but so many others tax attorneys realize any tax break now as this recession continues is something to smile about. Congress is deciding whether or not to extend or discard some tax breaks. For example, the $7.6 billion grant given to the research and experimentation tax credit was dropped precisely because it was poorly designed and was less than effective in fostering innovation.
Lower taxes means more prosperity
The owners of thoroughbreds and NASCAR are the winners now. The winners could be everyone but the Democrats who control the senate will not side with the Republicans who control the House who want to lower the corporate tax, the income tax for all Americans, and implement a flat tax so most Americans do not need accountants at all. But this is not happening as long as the Democrats control 2/3rds of the power.
Tax season is right around the corner for America. Better enjoy Christmas!