New Tax Policy: Deduct Government From Taxes? Why Not?May 20, 2014
Not long after I wrote this about the under reported oxymoronish idea of the Obama administration cutting regulations —not on business to create jobs, but on itself — to expedite federal spending, I see this apropos comic. If the government can cut regulations on itself, why can't we cut our tax bill by deducting government's tax, spending and regulatory burden on us? If we're allowed to deduct a standard amount from our taxes for dependent children, why not the federal government? Who is more dependent right now than an institution $17 trillion in debt. If 26-year-olds are considered as "children" now (under Obamcare) why aren't we allowed to deduct a portion of our expenses of the federal government's dependence on us to run its mostly mismanaged enterprises?
Taking it further still: There's a standard deduction for our annual costs for basic individual necessities as well as itemized deductions for those who make enough money and/or have enough expenses to make it worthwhile to claim. If excessive government spending is as much a necessity for our existence as, for example, mileage on our cars for businesses purposes (which are deductible), how about the ability to deduct the impact of government on our ability to earn? A new federal tax policy? Why not?