Biden Goes After Tax Dodgers

PostmodernProphet said:
half of Americans do not pay federal income taxes.......far more than half of Americans make more than minimum wages.......are you then proposing a tax increase on Americans who are in the lower and middle income brackets.......
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I haven't kept up with what Biden proposes for the middle income brackets.

But, I think there should be a Federal minimum wage increase to $15 an hour since some states have those in place now, and anyone making that and above should pay Federal Income Taxes.

If all the loopholes were removed, all the earned income credits were removed, deductions for Children, etc. I believe we could all be paying less taxes. Perhaps as low as 15%.

Households making more than $400,000 annual should probably pay just a little more- perhaps 18%.

Now for corporations and LCC's, I believe if they all paid their fair share, their taxes should be less than 28%- perhaps 20%- but only if all the loopholes were removed..

But, I am no tax wizard. Those are just how I would do it if I were president. Plug the rates in, measure after a year, and if they need to be adjusted, do it the next year, and keep on adjusting them each year until it becomes as fair as it can be. That is the key- fairness.

My problem is the millions of pages of tax code and loopholes that are crazy and unfair to most people not lucky enough to have them, leaving some people and some businesses carrying the burden of taxes for everyone.

Let's just get this down to something more simple and as flat based as possible.

Hopefully Congress would actually work together on a plan like that- and everyone could just be content again!

I have never agreed with the way we do taxes here in America- REPUBLICAN OR DEMOCRAT induced.
 
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PostmodernProphet said:
actually the accumulated federal budget deficit doubled between 2009 and 2016......and Obiden has increased the deficit more in the first 100 days of his presidency than Trump did in four years.......that doesn't take into consideration that 90% of Trump's deficit was the result of Covid......
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You are just wrong on all the numbers. Numbers have meaning, and if you lie about them, there is no meaning to your posts.
 
Yakuda said:
Cite it
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I keep proving things over and over again, and you just keep making up lies, with no proof.

In 2014, The New York Post and The New York Times reported that Sharpton had accumulated over $4.5 million in unpaid state and federal taxes on his personal assets and for-profit businesses, including Raw Talent, Revals Communications Inc., and the National Action Network, a civil rights organization he founded.
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Sharpton has also paid down a significant amount of his debt since 2014, as USA TODAY reported. He paid off his personal taxes but still owed $700,000 in 2019 for his companies.
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https://www.usatoday.com/story/news...s-how-much-taxes-al-sharpton-owed/7195590002/

Once again, if trump will just start paying down some of his debts to the taxpayers, then that issue will be taken care of.
 
Geeko Sportivo said:
Now for corporations and LCC's, I believe if they all paid their fair share, their taxes should be less than 28%- perhaps 20%- but only if all the loopholes were removed..
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its LLC (limited liability company) and at the option of the taxpayer they are taxed as either a corporation or a personal income tax rate.....there are no such things as "loopholes"........unless you are referring to allowing businesses to deduct business expenses......
 
Walt said:
You are just wrong on all the numbers. Numbers have meaning, and if you lie about them, there is no meaning to your posts.
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sorry.....apart from being full of shit, you are simply lying about it........Obama's spending is recorded history, which you ignore.....
 
PostmodernProphet said:
you do realize, I hope, that Trump has in fact paid all the taxes he owed.........no IRS audit has resulted in an assessment of additional taxes against him......
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Actually, you are incorrect. trump has been forced repeatedly to pay extra taxes. It is a constant negotiation with him
 
Walt said:
trump is not one tenth the man that Sharpton is, and that really is saying something.
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Trump is a deadbeat employer, a deadbeat partner, a deadbeat borrower, a tax cheat, stiffs honest merchants and stiffs his legal counsel who fixes the stiffing he does.
He's a fucking scofflaw conman deadbeat. String em out and stiff em. Those are his watchwords.
 
PostmodernProphet said:
its LLC (limited liability company) and at the option of the taxpayer they are taxed as either a corporation or a personal income tax rate.....there are no such things as "loopholes"........unless you are referring to allowing businesses to deduct business expenses......
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There’s the literal statutes that Congress has passed (Title 26 of the U.S. Code). The Government Printing Office sells it spread over two volumes, and according to them, book one is 1,404 pages and book two is 1,248 pages, for a total of 2,652 pages. At perhaps 450 words per page, that puts the tax code at well over 1 million words. (By way of comparison, the King James Bible has 788,280 words; War and Peace runs 560,000 words; and the Harry Potter series is just over 1 million words.)

So, that's a lot of code for just one loophole!

This may be why Donald Trump is in the hot tub with the IRS right now. Deductions are difficult for some people to figure them out how to claim them legally, so this TAX CODE needs to simplified.
So that was what I was talking about.
 
Geeko Sportivo said:
There’s the literal statutes that Congress has passed (Title 26 of the U.S. Code). The Government Printing Office sells it spread over two volumes, and according to them, book one is 1,404 pages and book two is 1,248 pages, for a total of 2,652 pages. At perhaps 450 words per page, that puts the tax code at well over 1 million words. (By way of comparison, the King James Bible has 788,280 words; War and Peace runs 560,000 words; and the Harry Potter series is just over 1 million words.)

So, that's a lot of code for just one loophole!
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apparently you think deductions are loopholes........you think the EIC is loophole........you think the capital gains tax is a loophole......they are all included in those 1 million words.......

my guess is, you think allowing tax payers to keep anything is a "loophole"......
 
PostmodernProphet said:
apparently you think deductions are loopholes........you think the EIC is loophole........you think the capital gains tax is a loophole......they are all included in those 1 million words.......

my guess is, you think allowing tax payers to keep anything is a "loophole"......
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No, I'm like every other red-blooded American- I hate taxes. But, I just have a different philosophy, If I have to pay taxes, I better see some return on my dollar.

In other words some things better go my way in Washington, DC!

I don't really have to worry about taxes anymore as I retired, and what is great is I can make about 49k before I have to pay a penny in FIT!
 
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