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Old 02-28-2008, 07:31 PM   #76
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Yolland,

I also mean those who invest in new ideas, products, and businesses as well, not just their education. Those who take big risks with capital, to build new businesses, to hire more people, etc... It's the spark that keeps new ideas and progress flowing, and the money flowing through the society -- sometimes to our detriment, but mostly to soceities benefit.

And the punishment occurs when we expect them to pay more taxes (not just more money, but a HIGHER percentage) than anyone else.

So, say a Doctor, after investing 200,000 in med school, then goes into debt to buy into a practice, say for $1M, the more money that practice makes, the higher the percentage of taxes he or she has to pay. Seems wrong to me. Seems like they should pay the same percentage as everyone else.
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Old 02-28-2008, 09:27 PM   #77
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Quote:
Originally posted by MadelynIris

So, say a Doctor, after investing 200,000 in med school, then goes into debt to buy into a practice, say for $1M, the more money that practice makes, the higher the percentage of taxes he or she has to pay. Seems wrong to me. Seems like they should pay the same percentage as everyone else.
But that doctor already benefits from many, many tax breaks that the rest of the population doesn't. From deducting office expenses, to deducting professional fees, equipment costs and a whole range of other deductible benefits.

So in the end, he may be paying significantly LESS tax once you factor in all of his write offs.
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Old 02-28-2008, 09:35 PM   #78
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Quote:
Originally posted by anitram


But that doctor already benefits from many, many tax breaks that the rest of the population doesn't. From deducting office expenses, to deducting professional fees, equipment costs and a whole range of other deductible benefits.

So in the end, he may be paying significantly LESS tax once you factor in all of his write offs.
All of those writeoffs are probably necessary to help stay afloat given the huge malpractice premiums, the ever declining reimbursement, and the need to pay an ever expanding staff to keep on top of the stacks and stacks of paperwork generated by the complex system in place.
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Old 02-28-2008, 09:48 PM   #79
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Originally posted by randhail


All of those writeoffs are probably necessary to help stay afloat given the huge malpractice premiums, the ever declining reimbursement, and the need to pay an ever expanding staff to keep on top of the stacks and stacks of paperwork generated by the complex system in place.
But that is an issue entirely separate from the fact that as far as the tax act is concerned, medical professionals (like lawyers, dentists, etc) do get significant tax breaks as things stand.
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