"Josh Hill"  wrote in message
news:rs2243h751dch2mhev38nlum6fbqj7fek7{at}4ax.com...
On Tue, 08 May 2007 03:41:58 GMT, Kurt Ullman 
wrote:

>In article ,
> Josh Hill  wrote:
>
>> Exactly. And the middle class will complain about the mortgage
>> deduction, even though it's economically counterproductive, and the
>> rich and powerful will manage to find loopholes, or to make them.

>   Most of the REALLY big loopholes are still middle class. IRAs already
>aren't deductible for those making more than a certain amount.
>Deductions you can take begin to be phased out at a certain level of
>income, etc. etc. etc.

Have you seen figures that bear that out? Forex, from what I've seen,
business ownership is a tax paradise. The guy who ran a company I
worked for actually had the company logo on the bottom of his swimming
pool so he could take it as a tax deduction on the basis of the annual
company picnic. The same guy provided a company car to his girlfriend,
and, rumor had it, another to her husband to keep his mouth shut.

"Taxes are for little people." - Leona Helmsley


She was convicted for tax evasion, IIRC, so I guess she found out
differently.

And I'm sure the IRS would not allow a deduction as a business expense a
pool that was used by the company once a year.






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