Quote:
Originally Posted by innerSpaceman
Why? Because you're used to it? If it's a deduction, then eliminating it is not an increase. In the same way that taking a retail item off the sale price is not a price hike. Sheesh.
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Eh, I agree with scaeagles on this one. Sure, semantically, you're correct. But practically, the effect is identical.
It's like the gas stations that are currently getting away with skirting the "you're not allowed to charge a service fee to people paying with credit card" law by giving a "cash discount." I call total b.s. on that. The end result is identical, just because you call title it the inverse doesn't change the economic nature of what you're doing. In short, yes, because we're used to receiving the deductions, ending those deductions is functionally equivalent to raising taxes. The end result=pay more taxes.
I just happen to not be against raising taxes.