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Taxpayers lose again
The U.S. Supreme Court has ruled that corporations have the same rights as individuals. However, when it comes to benefits, we individuals are given the shaft.
An an example, someone recently backed into the driver’s side door of my car and didn’t bother to leave a note. I took it two several repair shops getting an estimate of $2000at one and $710 at another. If I were a corporation I would be able to deduct the cost of repairing the damage as a business expense, but being a taxpaying citizen paying a higher tax rate than many corporations, Congress has fixed it so I am stuck with the bill.
Also as a corporation I would be able to deduct insurance cost as a business expense. Isn't it a wonder people are finding it harder and harder to increase their assets when all the benefits and write-offs are going to the corporations and the CEOs who run them.
Congress needs to review all laws to ensure that corporations are not given benefits that give them vast advantages over working people.
George Whitaker, Bellevue