Serious question. What is your problem? Are you a poor who thinks it's not your fault that you're poor and the world owes you something? Serious question: WHAT is your deal?
Well, my concern over tax increases is being elevated to fear
- Thread starter scotchtiger
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They used the super rich to justify their prison shower raping of people who do well. All you had to do was hear what Chris Wallace said last night. He essentially said great speech, will appeal to Americans. Corporations and people making $400k will pay for this and most people watching will not. As if that somehow makes it OK to confiscate wealth from people who have earned it. As if higher prices will be a regressive effect on the middle class and poor from this kind of insanely bad economics. If Americans really are this stupid then they can just have the ruin that will come from this.
It's a long way back but we need to go back to the early 1900's in terms of what the government does. FDR destroyed the country and we've just kept on the path since. None of this was intended. We've always been an imperfect (and in some ways just bad) country but we've always endeavored to be better. More government isn't better. The promise of freedom and liberty being extended to everyone that lives here should be the goal. All citizens should have the same freedoms to achieve.
The middle class isn't some set group of people. It is always evolving. But people like Biden just can't help making it some monolithic group which it isn't. I started off poor and moved to the middle and now I'm trying to move up again. That's how it's supposed to work.
Uncle Joe has heard you Scotchtiger. He has earned your vote in 2024.
Biden Seeks $80 Billion to Beef Up I.R.S. Audits of High-Earners (Published 2021)
The president’s “American Families Plan,” which he will detail this week, will be offset in part by a tax enforcement effort that administration officials believe will raise $700 billion over a decade.
President Biden, looking to pay for his ambitious economic agenda and shift more of the nation’s tax burden to the wealthy, will propose giving the Internal Revenue Service an extra $80 billion and more authority over the next 10 years to help crack down on tax evasion by high-earners and large corporations.
Rounding error is a very accurate description.
I can't recall the stat but something like 40 or 50% of America doesn't pay any taxes and in some cases are in negative tax deficit meaning they have no burden and get a refund somehow. Those numbers almost surely rise this year and next due to stimmys.
The ultra wealthy use shell .Llc's which are insolvent on purpose and then write off almost everything against them until they get to a reasonable tax burden. Anyone with a B in the bank probably has multiple. After a year or two, you kill that .LLC writing the losses off and you start another with similar attributes. All of that is legal
Uncle Joe has heard you Scotchtiger. He has earned your vote in 2024.
Biden Seeks $80 Billion to Beef Up I.R.S. Audits of High-Earners (Published 2021)
The president’s “American Families Plan,” which he will detail this week, will be offset in part by a tax enforcement effort that administration officials believe will raise $700 billion over a decade.www.nytimes.com
President Biden, looking to pay for his ambitious economic agenda and shift more of the nation’s tax burden to the wealthy, will propose giving the Internal Revenue Service an extra $80 billion and more authority over the next 10 years to help crack down on tax evasion by high-earners and large corporations.
He still defines high earners as those making $400K+. It just means the IRS may have more bandwidth to audit me for not collecting taxes for my nanny, or for writing off two annual company parties for my real estate investment LLC. F that.
Edit: Hypothetically, of course.
If the president is successful, individuals who earn more than $400,000 a year would face a higher likelihood of a tax audit, regardless of how much income they report on their tax forms, a person familiar with the plan said.
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He’s going to put $80b into the IRS as part of his “infrastructure” funding and weaponize it like Obama did. Anyone else remember when Obama told the IRS not to approve any conservative not-for-profits? Yikes
I’d expect audits will double if that makes it through
Are your referring to the Obama IRS scandal that the a report from the Treasury Inspector General for Tax Administration (TIGTA) said never happens after an extensive investigation? Damn dude, you really are tigergrowls.
THIS. Democrats and their accomplices in the media push this concept of filthy rich as if being well off is filthy and something abhorrent. And they create a wealth envy in this country that powers losers to the Democratic Party. It is obscene what a big lie it all is but people fall for it every time.
You’re conveniently leaving out the part where the DOJ paid out millions in settlement money to conservative companies to avoid federal charges but .....no, nothing to see here.
Shocking! Trump’s DOJ agreed to pay settlements for bogus lawsuits filed by conservative groups. I wonder how much of a kickback Ivanka got?
Just curious what percentage of the last dollar you make will be too much for people/companies to scale back business. I mean people need some incentive to expand business or just work more in some cases. If a self employed single proprietor in SC shows even a modest income of $55K after expenses and takes the standard deduction that brings his taxable income down to just over $42K. At that point, the government takes over 44% of every dollar he makes. That is not the super rich. That is no better than middle/lower middle class. What incentive does that guy have to work harder or possibly expand his business? The answer is very little.
I hate taxes as much as anyone, but you may want to check you math. And $42K for a family isn’t even middles class. I could send my two boys out mowing lawns fulltime and they’d make more.
At $42k taxable income you are paying 22% federal, 7% state and 15.3% self employment tax(SS/Medc) for every additional dollar you make. 22+7+15=44% Where is the math wrong? This is for a single filer - no family. I may have made a mistake, I just don't see it.
Probably close to the same kickback that Biden got from Hunters “entirely legit” overseas business dealings. You know.....the ones he didn’t have any knowledge of but knew his son was smoking crack and sleeping with his dead brother’s widow. Seems like out of those three things, you’d probably only want your Dad to know about one of them.
Sure, this was all Trumps fault. I guess he helped wipe the blackberries and military grade shred the hard drives despite a legal order not to remove evidence. Hillary playbook 101
You can throw all the bullshit about wiping servers and blackberries against the wall that you want. At least Hilary had the balls to show up for her congressional subpoenas, nobody in the Trump admin bothered to. Let's call it Trump playbook 101.
I think we can all agree, this who needs to be paying more taxes...
66% of U.S. households worth more than $25 million inherited their wealth.
https://trib.al/6xfyfxu?fbclid=IwAR2B__bd6oqGpnmOW6AoI_zVRRUK_iEwoP6CJsmSVItc_FjzEJ0NJkUqR4M
Got it. Wasn't reading it as marginal rate, but rather effective rate. So yes, after that, the gubment is taking nearly half of your income.
Interesting that the percentage tripled in 14 years. I haven’t inherited anything, but don’t like the idea of taxing people when they earn it, taxing it as the invest it and taxing it when they die. Numbers aside, that doesn’t seem right.
If some one inherited $25M, the govt has already taken a large share of that $$$ in most cases. First, that $$ was taxed when it was earned. Second, if some one got $25M in from an estate, the estate was likely $35M to start with and the govt already took ~ $10M more from the estate before that $25M was passed down. Chances are good the govt has already taken at least half of it before it is was inherited. That doesn't even account for someone living in your state of NY where the state would take an additional 16%.
What we need to do is quit rewarding people for making bad life choices, particularly repeatedly doing so. We have a huge problem with entitlement programs. FDR started social security, which is obviously the largest. It's time for congress to get back closer to FDR's intent for the program, and those like it. SS was never meant to be a permanent source of income, it was supposed to be temporary. This should be true for all entitlement programs. They should be programs to bridge gaps in times of unexpected events or hardship, not lifelong means of support. There are some fairly easy ways to push the curve on entitlements down long term. This is what we should be doing instead of trying to find new ways for the govt to take more $$ from the minority of people who pay taxes.
Many just repeat partisan talking points like “fair share” when discussing tax policy. Those are the low information voters/citizens that the left preys and relies on. Don’t waste your time.
Why wouldn’t she show up after ensuring there was no proof and knowing she had the state department making sure she didn’t get ambushed? Did you read any of the declassified docs?
You can throw all the bullshit about wiping servers and blackberries against the wall that you want. At least Hilary had the balls to show up for her congressional subpoenas, nobody in the Trump admin bothered to. Let's call it Trump playbook 101.
The Clinton’s are total scumbags. If you want me to say Trump is a scumbag, fine but you folks that won’t admit the Clintons are shitty people just tell me you’re either stupid or dumb.
The notion that it's just the left that "preys and relies" on "low information voters" is absolutely ****ing stupid. The right, objectively, does as well.
If you disagree that this is definitely a both sides, kinda thing, maybe you are one of those voters...
you'd be hardpressed to find someone on TI that doesn't think the clintons are scumbags. even the left on here (which are mostly just former pubs who didn't like trump) think both hilary and bill are shit heels
You'll need to be a little more clear about your definition of scumbags. Do I think Bill and Hilary are scumbags? Sure. But keep in mind that @jakefest and others in this thread believe that the Clintons are satanic cult pedophiles who rape kids in the non-existent basement of a Washington DC pizzeria.
well in their defense, i haven't seen any evidence that they AREN'T raping kids in non-existent basements of washington dc pizzerias
check mate, lib
Yeah, I never said anything like that. What they are though is an example of corrupt political lifers that cheat the system and never get taken to task for it. Money laundering, insider trading, foreign interest/influence donations and a fake shell of a 5013c that pads their wallets.
Don’t get me started on Russia, Benghazi etc.
And I’m sure Bill has some experience with 17 year olds on island Epstein. Even you think that you just won’t say it.
Well stuff is happening that most would never guess. Just saying and this is far from the only example.
BREAKING: Former Oregon Democrat House Majority Speaker Arrested For Human Sex Trafficking | The Gateway Pundit | by Cassandra MacDonald
Former Oregon House Speaker and current Clackamas Community College board member Dave Hunt has been arrested and charged by Portland police in an undercover sex traffic sting operation.
www.thegatewaypundit.com
Well stuff is happening that most would never guess. Just saying and this is far from the only example.
BREAKING: Former Oregon Democrat House Majority Speaker Arrested For Human Sex Trafficking | The Gateway Pundit | by Cassandra MacDonald
Former Oregon House Speaker and current Clackamas Community College board member Dave Hunt has been arrested and charged by Portland police in an undercover sex traffic sting operation.
Oh man a state lawmaker in Oregon was arrested? The Clintons must be involved, I mean how could they not be?
And of course Trump is involved in this case. It has his fingerprints all over it.
How the Matt Gaetz investigation grew from sex trafficking to medical pot
When Rep. Matt Gaetz vacationed in the Bahamas in 2018, he was joined by a doctor who donated to his campaign and a former colleague in the Florida Legislature. The Republican congressman, Dr. Jaso…
www.chicagotribune.com
Somewhat of a reprieve here ($400K to $509K), but the limit should still be higher. And the anti-equality marriage penalty is still evident unfortunately. Perhaps in the spirit of equal work/equal pay, joint tax brackets should always be double individual brackets...
President Joe Biden’s proposed income tax increases for the wealthy would hit individuals earning more than $452,700 in 2022 and married couples making at least $509,300, according to a White House official.
President Joe Biden’s proposed income tax increases for the wealthy would hit individuals earning more than $452,700 in 2022 and married couples making at least $509,300, according to a White House official.
I also read in one of the articles that Biden wants people making more than $400K to also starting paying SS taxes again at that threshold. Which is of course absolutely absurd. It’s a safety net program and you have more than satisfied your contribution after you’ve reached the cap.
