A Quote by Chuck Schumer

There are some tax expenditures that are there for very obvious and very important and very good policy reasons. Whether it's the charitable deduction or the deduction for homes, it's not a loophole.

Chuck Schumer

Quote Topics

Charitable Deduction Expenditures Good Homes Important Loophole Obvious Policy Reasons Some Tax Very Very Good Whether

Quote Author

Chuck Schumer
American - Politician
Born: November 23, 1950

A Tax Loophole: A deduction that the other guy gets.

Malcolm Forbes

The precise point at which a tax deduction becomes a 'loophole' or a tax incentive becomes a 'subsidy for special interests' is one of the great mysteries of politics.

John Sununu

Families in my community have seen their taxes go up because of the SALT deduction cap and as a result are questioning whether or not they can afford to live in New Jersey. The loss of the full SALT deduction puts an undue hardship on them.

Mikie Sherrill

President Obama's recommended reduction in the tax deduction for charitable giving reflects his fundamental belief that only the government can or should help the poor. He wants to keep the impoverished directly dependent on the government - and the Democratic Party - for their daily bread.

Dick Morris

In philosophical terms, the opposite of rationalism is not irrationalism but empiricism, that is, a willingness to form beliefs on the basis of experience rather than from a priori deduction. Empirical evidence never yields the dogmatic certainty that accompanies logical deduction.

John Quiggin

In my view, until the U.S. tax policy is revised, not just tax extenders but the reform of tax policy, it makes it very attractive for us to invest on acquisition overseas.

Louis R. Chenevert

Lawmakers misrepresent the facts when they call the manufacturing deduction known as Section 199 - passed by Congress in 2004 to spur domestic job growth - a 'subsidy' for oil and gas firms. The truth is that all U.S. manufacturers, from software producers to filmmakers and coffee roasters, are eligible for this deduction.

Harold Ford, Jr.

As long as you're a tax deduction, you'll always be safe in my house.

George Lopez

If your biggest tax deduction was bail money, you might be a redneck.

Jeff Foxworthy

I look at the idea of eliminating the state and local tax deduction as a geographic redistribution of wealth, because you're taking money from a place like New York to provide deeper tax cuts elsewhere.

Lee Zeldin

It turns out a VAT - a value-added tax - is a very easy tax to collect and a very hard tax to evade. It's a really good idea. It was invented about 60 years ago in France, of course. Because they're so good at taxing. They had a business tax that was easy to evade, and the head of the French IRS invented this value-added tax, which is very hard to evade.

T.R. Reid

I have pledged to work hard to get the state and local tax deduction cap lifted.

Mikie Sherrill

To me, it's obvious that the winner has to bet very selectively. It's been obvious to me since very early in life. I don't know why it's not obvious to very many other people.

Charlie Munger

Paraphrase, in the sense of summary, is as indispensable to the novel-critic as close analysis is to the critic of lyric poetry. The natural deduction is that novels are paraphrasable whereas poems are not. But this is a false deduction because close analysis is itself a disguised form of paraphrase.