Here come the tax hikes

[HedonistForever]

Originally Posted by bf0082

Property Taxes are socialized wealth distribution for the breeders, who get to pass on the cost of educated their offspring onto everyone else around them.....

Included in Property taxes are Women's protectors, the Police. They pass on the cost of allowing women to be equal to all those who live in the same area. Lets not play dumb here, the only people who use 9-1-1 are women, because they are feeble simple creatures who need armed guards to ensure their equality in society.

I have no problem affording women all the protection they need. Another on a short list of things I'm willing to pay higher taxes for.


FYI, women don't have children by themselves. The men who don't give a shit who or how many they impregnate, are as bad if not worse than the irresponsible women.


Some female most have really done a number on you to have that attitude.

[HedonistForever]

Originally Posted by Tiny

Life's going to be no bowl of cherries after we get rid of Walmart, Target, Best Buy, Amazon, UPS, Fedex, Microsoft, Google, CVS, Walgreens, Samsung, Johnson & Johnson, Netflix, Apple, Visa, Mastercard, Lowe's, Home Depot, Procter & Gamble, Ford, GM, the big supermarkets, the big airlines, the big banks, the big utilities, the big agricultural processors, etc., etc.

You take away my Whataburger and there's going to be hell to pay.

So far, he has no use for women who have babies, now corporations. I can hardly wait to see who is next on his hit list.


But maybe I'm just a bit biased since the corporation I worked for has been paying me a very nice pension for the past 16 years. Oh and I also have a self directed 401K that's doing pretty good.


A little luck, ( to be truthful, a lot of luck in getting the job ) hard work and playing by the rules paid off for me.

[WTF]

Who said Chivalry on a Hooker Board is dead?

[Tiny]

Originally Posted by WTF

Although labeled “tax reform,” the 2017 tax law actually opened up major new loopholes for the wealthy to exploit. One of the biggest loopholes within the bill is the so-called pass-through loophole, which created a 20 percent deduction of business income for owners of businesses such as S corporations or LLCs—opening up a number of new gaming opportunities. The deduction effectively lowered the top tax rate on most business income of high-income individuals by 10 percent—from the pre-2017 rate of 39.6 percent down to 29.6 percent. The largest beneficiaries of this provision by far are the richest 1 percent of Americans, who will see nearly two-thirds of the windfall. Moreover, in the final hours before the bill was passed, lawmakers added a last-minute provision to expand the pass-through loophole, especially for real estate owners.

I'm not necessarily wealthy but my tax rate went up. And I question whether the TCJA added more loopholes than it closed. I believe it's the opposite. I know the GILTI tax closed a loophole, as I've already described, but it also made the tax code a lot more complicated for any company that has to pay it.

The pass through "loophole" you mention, the qualified business income deduction, only works for the following three categories of taxpayers,

1. Legitimate small businessmen, who make up to $163,300 if a single filer or $326,600 for joint filers.

2. Businesses of any size with lots of labor expense

3. Businesses of any size with lots of depreciation on property, plant and equipment.

I don't like the QBI deduction, because it complicates the tax code, and it is a loophole of sorts. I'd rather have a lower, flatter tax. That said, there is justification for "1" and "2", that is, encouraging small businesses and encouraging businesses to hire people. Maybe that's a small part of the reason unemployment was so low before Covid. As to "3", I don't see the justification. It's kind of a give away to people who own lots of rental real estate, like Donald Trump, although I'm sure the official explanation is that it encourages investment in fixed assets.

[Tiny]

Originally Posted by HedonistForever

So far, he has no use for women who have babies, now corporations. I can hardly wait to see who is next on his hit list.


But maybe I'm just a bit biased since the corporation I worked for has been paying me a very nice pension for the past 16 years. Oh and I also have a self directed 401K that's doing pretty good.


A little luck, ( to be truthful, a lot of luck in getting the job ) hard work and playing by the rules paid off for me.

Well, I'd guess you've got about as many hard core Bernie Sanders supporters, who think like bf0082, as you do hard core Trump supporters. I'd suspect politicians favored by bf0082 have a very good chance of running the federal government someday. So maybe we're lucky to have him here, preparing us for what could come in the future. Eccieuser (may he RIP) was of a similar mind, but a whole lot less blunt.

Yes, we'd be screwed without corporations. As consumers and employees we depend on them. I'm not sure what bf0082 wants in their place. Maybe for businesses to be owned by wealthy and powerful families? Or communist collectives? Hard to say.

[Texas Contrarian]

.

Originally Posted by Unique_Carpenter

Well I guess the banker wants to balance the checkbook.
Yellen states that it's going to happen.

https://currently.att.yahoo.com/news...221720061.html

From about six years ago:

https://eccie.net/showpost.php?p=1056485822&postcount=1

(And still apropos)

Biden has promised not to raise taxes on anyone earning less than $400K/year. His rhetoric is all about partisan politics, not fiscal prudence. No one seriously believes that Biden's tax proposals would cover more than a very small percentage of current deficit spending, let alone all the "green new deal" plans, infrastructure "investment," or anything else.

.

[Tiny]

Originally Posted by CaptainMidnight

.



From about six years ago:

https://eccie.net/showpost.php?p=1056485822&postcount=1

(And still apropos)

Biden has promised not to raise taxes on anyone earning less than $400K/year. His rhetoric is all about partisan politics, not fiscal prudence. No one seriously believes that Biden's tax proposals would cover more than a very small percentage of current deficit spending, let alone all the "green new deal" plans, infrastructure "investment," or anything else.

.

An economist with the OECD did some work comparing the progressivity of tax systems back around 2005, after the Bush tax cuts. The USA far and away had the most progressive tax system in the OECD. I've linked to it on this site, but am too lazy to look up the post. And you have to pay to get the paper, which no one here is going to do anyway.

[nevergaveitathought]

I hear the game-stop congressional hearing is really a surreptitious dimocrat how to place a transaction tax on stock trades con-fab...... heavy on the con

[WTF]

Originally Posted by Tiny

Well, I'd guess

Yes, we'd be screwed without corporations. As consumers and employees we depend on them. I'm not sure what bf0082 wants in their place. Maybe for businesses to be owned by wealthy and powerful families? Or communist collectives? Hard to say.

Well, I'd guess .... let me answer with the same caveat you started with!

bfoo82 would prefer more small business in small to moderate sized towns keep their money locally... in other words say instead of the Walton billionaire family you have thousands of millionaire families locally. Closer to their customers. Money kept locally.

I'm not trying to argue whether free trade or monopolies are good or bad...just what bf0082 wants.

He sounds kinda like a Trump populist if Yrump had really carried through with his tax China rhetoric.

[rexdutchman]

brilliant, senility now

[Unique_Carpenter]

The amusing thing about a transaction tax on wall street is that it would directly hit pension and deferred compensation funds. So how would any New York state or municipal workers like that I wonder.

[winn dixie]

Consumption tax NOW! Abolish the irs! Abolish state income taxes!

Food and essentials not taxed!

Fair for everyone!

The so called rich pay taxes on their toys with no write offs.

The poor will watch their money more closely and spend within their means! No more lexus with 20 inch rims.

[Unique_Carpenter]

Originally Posted by winn dixie

.... Food and essentials not taxed! ....

Who defines essentials??
A politician?

Lets see:
Housing materials essential? Hmm, what can I build on several acres, on that island
Vehicles? I only need a mid size 2 seater, that goes real fast

[Tiny]

Originally Posted by winn dixie

Consumption tax NOW! Abolish the irs! Abolish state income taxes!

Food and essentials not taxed!

Fair for everyone!

The so called rich pay taxes on their toys with no write offs.

The poor will watch their money more closely and spend within their means! No more lexus with 20 inch rims.

Great idea! You combine it with a rebate for the less well off.

https://fairtax.org/
https://en.m.wikipedia.org/wiki/FairTax

[WTF]

Originally Posted by Unique_Carpenter

Who defines essentials??
A politician?

Many forget this reality...