Nickles Looking to Target Tax Loopholes (For Poor Working Families)

[Khephra]

WASHINGTON -- The chairman of the Senate Budget Committee asked the Treasury Department on Friday for a list of known tax loopholes, pledging to halt abuses and plug one transaction he called "a shell game."

The statement from Oklahoma Republican Don Nickles adds tax avoidance to the items under scrutiny as lawmakers work to reduce the federal deficit.

"If we can ... discover some other things that are really abuse of the system, we should shut them down earlier rather than later," Nickles told Treasury Secretary John Snow during a committee hearing.

Nickles said Congress should look closely at abuse and incorrect payments made under the earned income tax credit, which refunds payroll taxes to some working poor families.

And a transaction used by corporations to increase their tax deductions made his target list.

more................

http://www.newsday.com/news/politics/wire/sns-ap-taxes-loopholes,0,1897630.story?coll=sns-ap-politics-headlines

[Zhade]

1. Corporations first, you stupid fucking thief.

NT!

[izzie]

4. Now, now, it cost money to go after the big guys.

They like to keep at the poor little people, such as me. I am sure the IRA spent more time on me (my ex did something on his taxes and they came after me) then they will ever spend on Kenny Boy.

[jean]

2. Nickles wants to squeeze every last blood out of the working poor - shame!

[trotsky]

3. And if you find & crack down on, say, 100,000 "cheats"...

You might just collect what your typical multi-millionaire hides in just ONE of his offshore stashes.

This is total B.S.

[central scrutinizer]

5. class warfare

The class war is over. The rich have won and now they are mopping up, picking off the survivors.

[Toots]

6. Does close tax loop-hole equal tax increase?

By GOP logic anything that cuts your deductions is a tax increase. Nickles is trying to increase taxes on low earning individuals.

[snippy]

7. Conservative republicans have a visceral hatred of the earned income

tax credit. Some even foam at the mouth when discussing it. Their objections to it reveal just how greedy and hypocritical the republican party is and just how much the party absolutely despises the working poor. It was not always this way. Ronald Reagan called the EITC "the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress." http://www.cbpp.org/9-14-98sfp.htm Citing this Reagan quote to shittoheads and kreepers really causes them some distress as they are caught between their hatred of the working poor and their worship of Reagan.

[Pegleg Thd]

8. Those of us who live in Oklahoma

know that nickles is slimier than a greased pig and a co-conspirator in all bushit's schemes.