Old South justice
The DRC wrote an editorial supporting a judge's giving a man probation for stealing nearly $34,000 from the city's animal shelter.
This reminds me of the historic Old South of black men going to prison for stealing a loaf of bread while an executive stealing millions of dollars gets probation.
Judges, keep this in mind for the future. When a black man steals $34,000 and it wasn't by armed robbery or violence, give him probation.
The purpose of a tax is to raise revenue to pay for budgeted (authorized) expenditures. The administration proposed tax reform estimates annual budget deficits for the next 10 years. Past tax reductions have not had a significant increase in gross domestic product (GDP).
The claim that economic growth will replace the lost revenues from tax cuts is a myth. GDP has increased every year for the past 10 years except in 2009, which was caused by the recession.
Congress has not shown any indication that it will cut government expenditures to offset the tax cuts. All indications point to increased appropriations. We need more tax revenue not less. Our present Internal Revenue Code is filled with tax expenditures and loopholes.
We do need a major reform. Taxable income should include all income currently defined as gross income. Itemized deductions including mortgage interest and charitable contributions should be eliminated.
The standard deduction should be converted to a credit. I would suggest $6,000. Child credits probably should be considered. A reduction in rate schedules from seven to three does not simplify the tax but does benefit the wealthy.
Tax rates should be increased sufficiently to eliminate the projected deficits. We should not burden our children or grandchildren with our costs.
The corporate income tax is not a cost of doing business. Many corporations have a surplus of cash that they are not investing. A reform should eliminate the boondoggles then appropriate tax rates should be debated.