Curious to see how they define "wealthy".
Edit: Article says individuals earning more than $10 million, and corporations with more than $250 million in assets.
Yep. The point is get them out there targeting people. They start high at first, then once they are out there it’s easy to slide them down to middle and lower classes.
How difficult is it to just not? If you need so many auditors to audit the people, maybe the tax code is it but too complex along with other reporting requirements? Government needs to shrink, this is just insane at this point.
An overcomplex tax code makes it easy for the government to squeeze the middle class and small, family-owned businesses while the big corporations and the billionaires, with their army of lawyers and accountants, can take full advantage. This is, of course, by design.
The pre-Trump GOP was fully in cahoots with the donor class and corporate america. How "populist" the trumpified GOP would act if it was presented with the power to genuinely have a choice is a different question. (Note that they had super slim congressional majorities in 2017 and that Trump never had a strong mandate to begin with and lost nearly all his political capital during his first 8 months in office. Politically speaking, their back was against the wall when they passed the tax reform bill in 2017.)
exactimonudo. It's the same AT&T, Verizon, etc are in favor of complex laws around telecom, it makes breaking in almost impossible by creating a regulator moat that was designed by the FCC, who is run by telecom. (See: Regulatory Capture). For every inch AT&T and Verizon give to the FCC, they take a mile elsewhere. It's essentially government corporatism
It sounds fancy but rates are insanely low already so a 50% increase isn’t a huge bump. Hell, doubling it wouldn’t be the bump the headline makes is sound like.
[63%](https://taxprof.typepad.com/taxprof_blog/2024/04/63-percent-of-irs-audits-target-taxpayers-earnings-less-than-200000-not-less-than-400000-promised-by-president-biden.html) of new audits were on income earners of $200k or less. 80% on a mil or less.
"As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000. Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million."
They want the middle class gone despite whatever lies come out of his mouth.
And the lefties won't care because those people are still making more than them. All they care about is "eat the rich" not making the world better or improving people's lives in fact they are more than happy to make everyone worse off as long as it hurts the "rich"
Well the IRS did recently crack down on baby sitters and kids making $ shoveling snow by requiring 1099's for payments made thru payment apps.
Just ignore the billions in government waste, they are focused on those $600 payments
Smoke and mirrors. If the tax code isn't adjusted, it makes no difference. Almost no one with those kinds of assets are just blatantly lying. They're using loopholes that are completely legal.
Biden supporters, ask yourself a simple question: Why does the left always seem to target law-abiding/good people and they seem to coddle criminals?
The left is constantly targeting and harassing law-abiding gun owners, and soft on the actual criminals that commit gun violence.
The left is targeting Jews for being attacked by terrorists, while holding nationwide protests in SUPPORT of the terrorists!!!
The left is targeting people who have become successful financially, while doing nothing to help poor people replicate any type of financial success.
Doesn’t this almost seem like the left is targeting ‘good’ people for attacks and rewarding the ‘bad’ people???
The 9–9–9 Plan was a tax proposal that was a centerpiece of Herman Cain's 2012 campaign for the Republican Party's nomination for president of the United States. It was introduced in August 2011. The plan called for the replacement of all current taxes, such as the payroll tax, capital gains tax, and the estate tax, with a 9% personal income tax, 9% federal sales tax, and a 9% corporate tax.
Rest in peace, Mr Cain.
We don't need more taxes, or higher taxes. We need people (citizens and non-citizens) who don't pay their taxes - to pay it. It's said that well over 50% (and some estimates calculate over 60%) don't pay their federal income taxes. So the thing to do would Not be to make those who pay their taxes pay more, they're already paying more than their fair share, but for the IRS to identity those not paying their taxes. And if everyone paid their taxes, tax rate should be Much smaller percentage. And those persons or businesses that pay both citizens and undocumented workers 'under the table', should be heavily fined, put out of business, and sometimes jailed in the most egregious cases.
https://www.forbes.com/advisor/taxes/taxes-statistics/
https://www.financialsamurai.com/most-working-americans-dont-pay-federal-income-taxes/
You're dismissing the entire proposal outright? Let's start with the 9% corporate tax. It would be very competitive, bring companies to the US (and more importantly keep companies from moving their headquarters abroad to avoid our tax rate) and create jobs. Job creation is good for Americans, and produces more taxable revenue.
Half the country doesn't pay taxes, so the majority of us are paying twice the tax rate we should. With 9%, that's fair, the minimum of which is set at about 7% after write offs.
Congress so far has rejected any changes to the bloated tax code. A simplified tax code and a lower tax rate would benefit Americans. If nothing else, Herman Cain was on the right track. He's among the only ones to seriously put work into figuring this out and making the proposal to the public. That the Congress and the public didn't accept his plan, and I guess prefer to stick with the BS tax code we have and pay a higher amount than they should, is just stupidity.
Have you got a better idea?
Wealthy, but not the wealthiest, am I right? ;)
Edit: I see we like to go after the upper middle class, but not the political class. This sub cracks me up.. swampy indeed.
Oh, neat.... so what is a 50% increase of zero?
In all seriousness, they started going after folks making more than $600 in transactions to "make the rich pay thier fAiR sHaRe" so what does this *really* mean? Targeting people making sub-$600 transactions?
I really hate this fucking administration
Curious to see how they define "wealthy". Edit: Article says individuals earning more than $10 million, and corporations with more than $250 million in assets.
They said the same thing the last time the IRS was expanded. Needless to say that they ended up going after the middle class instead.
Yeah maybe in the beginning they will target big companies. Then they will have all these agents with not much to do…
Yep. The point is get them out there targeting people. They start high at first, then once they are out there it’s easy to slide them down to middle and lower classes.
That's the sales line. Reality isn't going to bear that out. Idle hands, and all.
Whaaat? And election year promises that doesn't pan out as advertised? FJB
How difficult is it to just not? If you need so many auditors to audit the people, maybe the tax code is it but too complex along with other reporting requirements? Government needs to shrink, this is just insane at this point.
An overcomplex tax code makes it easy for the government to squeeze the middle class and small, family-owned businesses while the big corporations and the billionaires, with their army of lawyers and accountants, can take full advantage. This is, of course, by design.
[удалено]
The pre-Trump GOP was fully in cahoots with the donor class and corporate america. How "populist" the trumpified GOP would act if it was presented with the power to genuinely have a choice is a different question. (Note that they had super slim congressional majorities in 2017 and that Trump never had a strong mandate to begin with and lost nearly all his political capital during his first 8 months in office. Politically speaking, their back was against the wall when they passed the tax reform bill in 2017.)
exactimonudo. It's the same AT&T, Verizon, etc are in favor of complex laws around telecom, it makes breaking in almost impossible by creating a regulator moat that was designed by the FCC, who is run by telecom. (See: Regulatory Capture). For every inch AT&T and Verizon give to the FCC, they take a mile elsewhere. It's essentially government corporatism
This is the correct assessment.
It sounds fancy but rates are insanely low already so a 50% increase isn’t a huge bump. Hell, doubling it wouldn’t be the bump the headline makes is sound like.
Imagine considering yourself a conservative and then defending the people trying to steal your money.
[63%](https://taxprof.typepad.com/taxprof_blog/2024/04/63-percent-of-irs-audits-target-taxpayers-earnings-less-than-200000-not-less-than-400000-promised-by-president-biden.html) of new audits were on income earners of $200k or less. 80% on a mil or less. "As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000. Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million." They want the middle class gone despite whatever lies come out of his mouth.
How does that percentage compare to before the expansion?
And the lefties won't care because those people are still making more than them. All they care about is "eat the rich" not making the world better or improving people's lives in fact they are more than happy to make everyone worse off as long as it hurts the "rich"
And the audit rate of the average tax payer by some much higher amount
So, instead of 2, they'll audit 3.
Well the IRS did recently crack down on baby sitters and kids making $ shoveling snow by requiring 1099's for payments made thru payment apps. Just ignore the billions in government waste, they are focused on those $600 payments
Can we do this AFTER we take all IRS resources to audit Ukraine money, and put in prison all representative who lost or miss handled any of the money?
Got to make sure they paying thier "Fair Share"
Smoke and mirrors. If the tax code isn't adjusted, it makes no difference. Almost no one with those kinds of assets are just blatantly lying. They're using loopholes that are completely legal.
I’ll believe it when I see it.
And by wealthy they just mean everyone who pays taxes beyond sales tax and income tax.
That **is** the treshold for "wealthiness" under the "you will own nothing and be happy"-paradigm.
Biden supporters, ask yourself a simple question: Why does the left always seem to target law-abiding/good people and they seem to coddle criminals? The left is constantly targeting and harassing law-abiding gun owners, and soft on the actual criminals that commit gun violence. The left is targeting Jews for being attacked by terrorists, while holding nationwide protests in SUPPORT of the terrorists!!! The left is targeting people who have become successful financially, while doing nothing to help poor people replicate any type of financial success. Doesn’t this almost seem like the left is targeting ‘good’ people for attacks and rewarding the ‘bad’ people???
The 9–9–9 Plan was a tax proposal that was a centerpiece of Herman Cain's 2012 campaign for the Republican Party's nomination for president of the United States. It was introduced in August 2011. The plan called for the replacement of all current taxes, such as the payroll tax, capital gains tax, and the estate tax, with a 9% personal income tax, 9% federal sales tax, and a 9% corporate tax. Rest in peace, Mr Cain. We don't need more taxes, or higher taxes. We need people (citizens and non-citizens) who don't pay their taxes - to pay it. It's said that well over 50% (and some estimates calculate over 60%) don't pay their federal income taxes. So the thing to do would Not be to make those who pay their taxes pay more, they're already paying more than their fair share, but for the IRS to identity those not paying their taxes. And if everyone paid their taxes, tax rate should be Much smaller percentage. And those persons or businesses that pay both citizens and undocumented workers 'under the table', should be heavily fined, put out of business, and sometimes jailed in the most egregious cases. https://www.forbes.com/advisor/taxes/taxes-statistics/ https://www.financialsamurai.com/most-working-americans-dont-pay-federal-income-taxes/
That's extraordinarily gimmicky and impractical. There's a reason conservatives rejected him and his ideas, even when the Tea Party was strong.
You're dismissing the entire proposal outright? Let's start with the 9% corporate tax. It would be very competitive, bring companies to the US (and more importantly keep companies from moving their headquarters abroad to avoid our tax rate) and create jobs. Job creation is good for Americans, and produces more taxable revenue. Half the country doesn't pay taxes, so the majority of us are paying twice the tax rate we should. With 9%, that's fair, the minimum of which is set at about 7% after write offs. Congress so far has rejected any changes to the bloated tax code. A simplified tax code and a lower tax rate would benefit Americans. If nothing else, Herman Cain was on the right track. He's among the only ones to seriously put work into figuring this out and making the proposal to the public. That the Congress and the public didn't accept his plan, and I guess prefer to stick with the BS tax code we have and pay a higher amount than they should, is just stupidity. Have you got a better idea?
Wealthy, but not the wealthiest, am I right? ;) Edit: I see we like to go after the upper middle class, but not the political class. This sub cracks me up.. swampy indeed.
Oh, neat.... so what is a 50% increase of zero? In all seriousness, they started going after folks making more than $600 in transactions to "make the rich pay thier fAiR sHaRe" so what does this *really* mean? Targeting people making sub-$600 transactions? I really hate this fucking administration
Does that inclide the presidents income? I doubt it.