Thread: Debt Limit
View Single Post
      07-06-2011, 06:55 PM   #62
Tortfeasor 335xi
Corporate Hack
Tortfeasor 335xi's Avatar
United_States
3
Rep
288
Posts

Drives: '08 335xi Coupe
Join Date: Mar 2008
Location: Princeton, NJ / Philly, PA

iTrader: (0)

Quote:
Originally Posted by 11Series View Post
96% of Republican Congressmen have signed Grover Norquist's Taxpayer Protection Pledge that specifically BANS Republicans from removing tax loopholes and shelters. From Norquist's own website:

"Signing the Taxpayer Protection Pledge commits signers to oppose changes in tax deductions or credits that increase the net tax burden on Americans."

96% of Republican congressmen have sworn a pledge to OPPOSE closing tax loopholes.
Not quite. The key word there is "net." This means that they can't eliminate loopholes that increase people's tax burdens. But, they could eliminate loopholes if they also lower the overall tax rate. That could result in no net change, while still achieving tax reform.
__________________
New Car: 2008 335xi Coupe
Earlier Car: 2004 STi (got stolen)
Earlier Earlier Car: 1995 Mustang GT (416 whp and a blown engine)
Really Much Earlier Car: 1988 Mazda 626 TURBO