Social engineering has no place in tax codes
“In debt talks, tax breaks divide” (News, Oct. 3) highlights a problem inherent in our tax system. Politicians are human and (with few exceptions) can be counted on to look with favor on their “pet” tax breaks. The solution is to change our approach to taxation. We need to get away from using the tax code to achieve social ends. This means no more deductions except for expenses directly related to producing income. Taxation should be used only to raise revenue to finance necessary and proper functions of government. Where there are social problems that can be solved by government, let them be addressed through legislation. We also ought to do away with corporate income taxes. If corporations were not forced to hire hordes of tax lawyers and accountants to comply with tax laws, they would be able to lower prices, be more competitive in world markets, and more likely to keep profits and jobs in this country.
Richard Dowis, Waleska
Give investors a break for taking chances
E. J. Dionne Jr. cannot be as stupid as “Buffett now a heretic for speaking tax truth” (Opinion, Oct. 3) portends. He dismisses the reason why investors are rewarded with lower tax rates on their capital gains. Investors take risks.
An investor takes cash he earned someplace else (and has already paid income tax on) and has a choice. He can put cash into muni bonds or T-bills, or he can loan it to a startup business venture where he might make a killing or lose it all. Wage earners know up front how they are to be compensated; investors, not so much. If you remove the tax incentive by taxing investors on their risky gains at the going rate for income, who is going to fund these businesses? Believe me, any new business is risky.
Earl Hider, Snellville
National water policy would boost economy
Every year, we read about extreme water shortages in America. Our country needs to develop a national water plan connecting our rivers, waterways and fragmented public water systems so that water can be distributed throughout our country. Think about Seattle’s abundant rainfall going to Nevada and Southern California. Money could be diverted from wars and nation-building into something that would benefit citizens. How could our politicians not support a plan that would create such an economic boost?
Ron McKendree, Columbus
