Small Biz To Obama: Where Are My 18 Tax Cuts?

During the debate Tuesday, Obama said he has given smalll business 18 tax cuts. But, after getting clarification from Obama the so called 'tax cuts' don't amount to much.

William McBride, chief economist for the nonpartisan Tax Foundation, said that many of these cuts are actually credits and deductions. The reason they have been overlooked is because they fail to make a dent in the tax burden for small businesses, he said.

“The biggest effect is that they complicate the tax code, because they are mainly, technically, tax expenditures,” McBride said. “They are small, special interest things that aren’t broadly applicable.”

Read more: http://smallbusiness.foxbusiness.co...bama-where-are-our-18-tax-cuts/#ixzz29gh2yj4t

 

IOW, the tax "savings" completely disappear after the accountant increases his "billable hours" to prepare the business return.

 

In other words an indirect payoff to the accountants, the u.s. is the only country in the world that could afford this fucked up tax system, and the fact is that we cant anymore.