uh what do you
how do you feel about it
well i don't know i would hate i would rather not have to have it all taken out but i kind of feel like
it's part of living in a free country but it seems like they take quite a bit out
uh i'm a tax lawyer and uh i uh
oh yeah
but i agree with you i uh
yeah
you probably know like i say you're a lot more knowledgeable about it than i am but do you do for corporations or mainly
i
um-hum
yeah corporations i work for a bank
yeah
oh do you oh
yeah and uh
and
so what what do they think the corporation you work with
um
well banks banks are regulated of course by the uh by the federal government anyway so
yeah
uh-huh
we don't have the franchise taxes
which are
are not federal taxes uh
yeah
i don't know i i think they i don't hear anything at work about them really
yeah well i tell you i i work for a credit union so that might be a whole another topic as far as well you know how do
oh okay
what's the opinion around there about uh you know credit unions not being taxed and stuff do they do have you guys had any i don't want to say battles but
do they uh a lot of people around here in Utah and stuff they they claim the unfair unfair uh unfair playing field and whatnot and
whether or not credit unions are getting you know being treated special and do they get
we've had that too because of the failures though
oh yeah
and uh whether or not they should be assessed more
uh-huh
and uh the the state has uh has uh is in the midst of a reform probably in that area
it's where they're going to tax credit unions on a state level or or just assess their more for the insurance fund
or or higher assessment to yeah
right
huh yeah it's uh i don't know i want i think i've always felt that if we credit unions stick to their little niche they have that then it probably shouldn't be but it seems like more and more uh
we're getting out into a lot of the bank territories i do not know if it is too fair or not
uh i don't know that it is fair i think that it's you know the way banking is being uh compacted i work for at Nations Bank which has just merged with C and S Sovran
yeah
yeah
oh yeah
and uh
you know i think i think a little competition is good
yeah
uh
but
but down here a lot we saw we say them doing things they shouldn't be doing
yeah they getting into business lending and things like that or yeah i the credit union i work for is one of the top the twenty uh about the fifteenth largest and we are starting to get into that and that is where i really have my questions as to whether or not we're
yeah real estate
you know if they were able were playing on a level field whereas the banks are getting taxed and stuff
yeah
and i don't know what the corporate taxes are as far as how much they get taxed but i mean i know it would have to it would definitely have to effect our bottom line if we got taxed there's no doubt about it
everybody's gone down i think the individual levels are fine
uh-huh
uh i don't think they're perceived as uh
was i learned in school if you taxed a hundred percent of the income of people that made over a hundred thousand dollars you know
uh-huh
uh we wouldn't reduce the deficit by
yeah
but but a drop in the bucket because there are such few people that do that
yeah
well what do you have have you ever studied i guess anything about a flat tax or anything like that i mean we've talked about it and how it kind be kind of a recessive tax for the poor or
well that's what sales tax are
yeah that's true but i mean on more of a national level i guess it seems like it might uh get rid of a lot of the problems as far as the loop holes and stuff but
maybe just have it based on two or three different level and eliminate a lot of the exemptions and stuff is that
that uh flat taxes i think are a pretty good idea uh they're debating of course right now whether to bring in capital gains again uh to stimulate the economy
uh-huh
yeah
and uh find from what i from what i recall it doesn't stimulate the economy that much it just uh boots everybody's feeling about stimulating the economy
yeah that's more or less touchy-feely thing as opposed to
yeah
yeah i just always heard that the poor would end end up taking the worst brunt of it because they're
you know their their income is less and yet they're being taxed at the same rate and therefore it hurts their spending power but you know i've heard different ideas to where they will make it so that uh you know depending on your income that it'll be maybe a different level of tax but
seems like then people would just do whatever they could to hide income so like you say it probably wouldn't do much anyway
the
i i what happens is i think it is a good idea but they chip away at it i mean the home mortgage deduction is like sacrosanct
um-hum
yeah that's true
you can't take away people that said there you go you've got one exception already and uh and uh it you know well if we didn't have this exception then we'll just add this one and it just gets it snowballs
yeah that's true
yeah
uh-huh
i i think it is in theory probably a good idea
well uh
are the taxes in in Texas are they are few state taxes very high or
we don't have state income tax
oh don't you oh that's sweet
none
but we've got an eight percent state sales tax
oh that hurts
yeah and uh you know course that's
that's a regressive tax
yeah it is
and it's you know uh
uh it's not on grocery
