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senate Bill S. 1974

Should the IRS Disclose Information About Entities Getting Special Interest Tax Credits?

Argument in favor

Special interests have used their political influence to secure tax breaks for themselves, and the IRS should make information about the tax credits corporations are claiming available to the American public.

Jack's Opinion
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11/03/2017
The hardworking Americans who pay their taxes dutifully deserve to know who is so important that they shouldn’t have to pay their taxes. Corporations have so many loopholes for tax breaks. We deserve to know what amount these companies aren’t paying and how they’re doing it.
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Andre's Opinion
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11/03/2017
This seems like a good opportunity to show what the real tax rate is for Corporate America and the entities that the wealthy funnel their money through. I assume that Senator Flake will bring this requirement for full transparency to bare before he votes on the Trump tax cuts.
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11/03/2017
This should definitely be public knowledge. I would also like to know where all the money is spent. And don’t give me any of that national security secret bullshit.
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Argument opposed

It’s not a bad idea to require the IRS to disclose high-level information about special interest tax credits for the sake of transparency, but the general public shouldn’t be able to see exactly how much a company got in a tax credit.

NoHedges's Opinion
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11/03/2017
I don’t know what Mr. Flake is trying to accomplish with this particular piece of legislation, but what I know from his track record worries me. His score with the “Club for Growth” shows a near perfect alignment with free-market trickle down ideology. And he is consider as one of the “gang of eight” in his hard nose immigration policies. I just don’t believe he is trustworthy when it comes to such an influential piece of legislation. 🚧Update: Thank you Sen. Flake for realizing the damaging you have committed as a public servant. Hopefully, your decision to retire will help this country move away from your hard-nosed puritanical ideals and towards a more inclusive and sustainable future for all.
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Ritch's Opinion
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11/03/2017
Although this is a good attempt at transparency and so I favor it in principle, given the level of radical and rabid opposition out there, I think this may be more dangerous to public safety than anything else. Over the past few years we’ve seen things extremists get people fired for political contributions to clinics being vandalized. This bill would give fuel to those radicals on either side. It would be better just to eliminate all the subsidies and credit shell games and put everyone on a level playing field.
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Jason's Opinion
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11/03/2017
“Special Interest” is just code for “Somebody I Don’t Like”. How about we just make all tax returns public? Too much transparency? Then explain why these “Special Interests” don’t deserve privacy.
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    The hardworking Americans who pay their taxes dutifully deserve to know who is so important that they shouldn’t have to pay their taxes. Corporations have so many loopholes for tax breaks. We deserve to know what amount these companies aren’t paying and how they’re doing it.
    Like (216)
    Follow
    Share
    I don’t know what Mr. Flake is trying to accomplish with this particular piece of legislation, but what I know from his track record worries me. His score with the “Club for Growth” shows a near perfect alignment with free-market trickle down ideology. And he is consider as one of the “gang of eight” in his hard nose immigration policies. I just don’t believe he is trustworthy when it comes to such an influential piece of legislation. 🚧Update: Thank you Sen. Flake for realizing the damaging you have committed as a public servant. Hopefully, your decision to retire will help this country move away from your hard-nosed puritanical ideals and towards a more inclusive and sustainable future for all.
    Like (41)
    Follow
    Share
    This seems like a good opportunity to show what the real tax rate is for Corporate America and the entities that the wealthy funnel their money through. I assume that Senator Flake will bring this requirement for full transparency to bare before he votes on the Trump tax cuts.
    Like (67)
    Follow
    Share
    This should definitely be public knowledge. I would also like to know where all the money is spent. And don’t give me any of that national security secret bullshit.
    Like (56)
    Follow
    Share
    I think that the taxpayers have a right to know how the money is being spent. If individuals or companies are getting special credits outside existing tax code, I think we have a right to know (or at least be able to research it when interested). Special deals are sometimes necessary and sometimes not. Let us decide for ourselves. Transparency tends to encourage accountability.
    Like (34)
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    Transparency is difficult to be opposed to, unless your have nefarious motives.
    Like (20)
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    Although this is a good attempt at transparency and so I favor it in principle, given the level of radical and rabid opposition out there, I think this may be more dangerous to public safety than anything else. Over the past few years we’ve seen things extremists get people fired for political contributions to clinics being vandalized. This bill would give fuel to those radicals on either side. It would be better just to eliminate all the subsidies and credit shell games and put everyone on a level playing field.
    Like (17)
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    Absolutely!
    Like (15)
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    Yes, these are our tax dollars, we should know where every single penny is going.
    Like (14)
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    Yes...they love to pull money from the middle class while giving tax breaks to ones who don't need it.
    Like (12)
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    Transparency is the friend of all moral governance.
    Like (10)
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    YES! If an entity is getting special tax incentives the American people want to know who and why! Period.
    Like (10)
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    Transparency is essential in a government by the people, for the people
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    No secret benefits democracy thrives in the light of day.
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    If tax loopholes for corporations allow them to get out of paying, we should know about it. Boycotting works.
    Like (9)
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    Transparency is a good thing when dealing with public money
    Like (8)
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    Absolutely. Full disclosure.
    Like (7)
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    I believe transparency will open up information that is necessary to know how these special exceptions benefit the country.
    Like (7)
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    Yes, Yes, Yes and Yes...did I mention “Yes?”
    Like (7)
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    Transparency will help expose abuses and hopefully lead to further tax reforms. Transparency helps to cleanse the dirty back door deals by bringing them to light, and Americans ought to be able to see where every last cent goes in taxes.
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