Jeb Bush Tax Plan Could Disrupt Real Estate And Small Business
A much more disturbing thought, one for which I will not try to construct examples is what happens with firms that borrow to finance receivables, inventories and to deal with irregular cash flow. During periods in which inventory and receivables are stable there might be a pretty good match between taxable income and after-tax cash flow. The notion that you could run into a rough patch during which there is barely enough operating income to cover your interest expense, but you are still generating taxable income because the interest is not deductible is frightening.
Jeb Bush And The Spirit Of 1986
If you have been considering a major charitable gift, don’t put it off, since charitable deductions will be more valuable in 2015 and 2016 due to lower marginal rates. If you are approaching full retirement age do whatever you can to defer compensation in anticipation of that payroll tax break.
If you are a highly leveraged entrepreneur in a high tax state you might like the Bernie Sanders plan better than the Jeb Bush plan.
The thing about the Tax Code being 80,000 pages and tax accountants writing the Code might seem petty, but, since I have taken on the project of rewatching West Wing on Netflix, I have decided to adopt a “Would Jed Bartlett make a mistake like that?” standard. I’ve also decided that any candidate that promises to make Allison Janney press secretary has my vote.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.