Unconscionable” tax bill

[buffalo]

Why the constant need to punish corporations? They are paper entities.

 

[ChunkMonk]

Besides, getting an $8 or $9 an hour job will not house and feed an individual

Okay, I just want to address this.

I barely graduated from high school, have had entry level, manual labor jobs my entire working career, and I have zero skill in any trade… And I still have not made less than 10/hr since my first job, in high school.

If a person is getting paid 8-9 dollars per hour then there is something else going on. I dont even know how an adult would manage to even find a job that pays less than 10/hr. They have to be doing the most unproductive, unnecessary work ever.

 

[ProVobis]

How are you punishing corporations by giving them deductions and write-offs?

I can’t remember the last time my employer paid any tax on his business.

If all else fails, hire enough people so expenses exceed revenues. Or give them raises. Duhhhh!

 

[buffalo]

He didn’t make any money?

 

[ProVobis]

They collected revenues. Doesn’t necessarily mean making money. There are costs of doing business which may give you a loss. Advertising, employees. etc

OTOH the individual filer usually can’t write off stuff like depreciation or hiring cleaning people. It is suggested in some cases that an S corporation be set up in order to take advantage of such expenses. Supposedly this has been addressed somewhere in the tax bill.

 

[upant]

Well, unfortunately, that will be the excuse. Now that we have given all the money to the 1%, we either have to raise taxes on the middle class or cut programs, and of course, a lot of people well want to cut social programs. But think this through, if you cut food stamps and rent subsidies how many grocery store chains and landlords will be affected? How will this significant loss of income affect the local economy, less jobs at the grocery stores now(?), rundown or vacant buildings lowering the economic standing of the local communities(?) And just because you don’t fund social programs does not mean the poor go away. We will be creating an underclass out in the streets similar to the days of David Copperfield and Merry Olde England. And then the middle class will be caught with the fear of not ending up in the poor house, so the 1% will be calling all the shots.
I would not be so quick to embrace rich people who have no other interest other than acquiring more wealth for their families as the solution for your family’s future.

the sky is falling! the sky is falling!

 

[Lemuel]

Y’all are only arguing about the conditions of the prison and not that you’re in prison.

 

[pnewton]

You asserted that the bishops speak for the church when they make specific policy proposals;

I did not, especially the way you use the term “specific.”

 

[pnewton]

If we cut the fraudulent claims for Earned Income Tax Credit, Child Care, WIC, etc. then how many fraudulent people will be forced back into the work force looking for jobs instead of an illegal handout?

No one is supporting fraud. This is a straw man.

 

[pnewton]

A rising tide lifts all boats.

Tide is a bad analogy for the economy, probably the worst possible analogy. It is outside our control, dependable and affects all universally.

 

[upant]

upant:

the sky is falling! the sky is falling!

Sounds like Conservatives ever since health care was passed.

wings of the same bird especially the rino’s

 

[Lemuel]

What country would you like to live in? Since you have so many complaints about this one.

The one I’m in.

 

[Lemuel]

I am a contrarian but that doesn’t mean I enjoy it. And what’s popular isn’t necessarily what’s right.

 

[o_mlly]

No one is supporting fraud. This is a straw man.

No straw man. Read the link. All who oppose a tax reform bill that through simplification reduces $71B in fraud support the status quo – unconscionable fraud on a massive scale.

The old saw that since the bill is not perfect therefore one ought not support it just does not fly anymore. The perfect has always been the enemy of the merely good.

 

[MonteRCMS]

A “non-profit” organization. A QUANGO.

A quasi-non-governmental organization.

A college.

They don’t produce anything and are barely holding a competitive environment.

And they don’t pay taxes by virtue of the tax code. And a self-certification.

On the other hand, if your company manufactures or produces can-openers or software or natural gas or sign posts, you are competing continuously.

 

[o_mlly]

Given the choice between paying lower taxes and filing on a postcard, most people would prefer lower taxes. So offering postcard filing in return for giving up deductions does not seem like a win.

Why can’t we get both – simpler and lower taxes? Not only are the two goals not mutually exclusive, the two goals are in fact mutually conducive.

 

[MonteRCMS]

Get a red pencil and a copy of your last year’s 1040 tax return and see what doubling the standard deduction would do to the tax due. Pencil in the other changes we already know about.

If you are employed by a tax-paying organization, then take a look at THEIR 1040 and their annual report and see what some of the changes might result.

If you visit Yahoo Finance and type in their ticker symbol [assuming they are publicly traded], you can get their financial reports right there on line. And just modify a previous year revenue/expenses statement, the balance sheet, and cash flow statement … and see for yourself what the results look like.

 

[LeafByNiggle]

LeafByNiggle:

Given the choice between paying lower taxes and filing on a postcard, most people would prefer lower taxes. So offering postcard filing in return for giving up deductions does not seem like a win.

Why can’t we get both – simpler and lower taxes? Not only are the two goals not mutually exclusive, the two goals are in fact mutually conducive.

We can’t afford to give everyone a tax break - according to the GOP. So someone has got to lose to pay for the breaks for billionaires, who really really deserve them. So the postcard filers are the ones they decided ought to be the losers.

 

[o_mlly]

We can’t afford to give everyone a tax break - according to the GOP.

And you think we can afford to give everyone their special tax break? The GOP is correct. One day the Treasury will offer another $50B or so in bonds at auction and the Chinese will not show up. What then?

So someone has got to lose to pay for the breaks for billionaires, who really really deserve them.

Hyperbole or just sarcasm to make a point? Either way, the facts just do not support the claim. The IRS reports that “the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined.” It is quite impossible to cut taxes without cutting the taxes of those who actually pay the taxes.

Summary of the Latest Federal Income Tax Data, 2016 Update

The Internal Revenue Service recently released new federal income tax data for calendar year 2014 showing the number of taxpayers, AGI, & income tax shares.

taxfoundation.org

 

[Lemuel]

Why don’t we just limit government to its constitutional powers? We could get rid of 80 percent of the nonsense we have and the problem would solve itself.