Republicans feebly resist raising our already stratospheric tax rates even higher by insisting Big Government should close loopholes instead. An example of what a bureaucrat means by a “loophole”:
[T]o the technocrats in the federal government, the tax you don’t have to pay on the value of rent you don’t have to pay because you own your home is a loophole.
Read that last sentence again. It’s called “The Imputed Net Rental Income on Owner-Occupied Housing” and the feds include it in their annual list of “tax expenditures [i.e., loopholes].”
They will bleed every penny out of us until either we rebel or the economy completely collapses beneath the massive weight of their greed.
On a tip from Henry B.