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Credit vs deduction

by jcocktoaston, Monday, December 04, 2017, 08:56 @ Grantland

I apologize in advance if I am telling you things that you already know as I am unsure of your background but a credit is a dollar for dollar reduction in tax while a deduction just lowers taxable income. While I am not opposed to what you are suggesting, a credit would be extremely favorable to the taxpayer as the credit would be basically worth 3x as much for a top rate taxpayer as even a full expense deduction.

Your point is certainly correct that a simpler tax code means fewer attempts at social engineering via tax policy for better or worse.


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