SoCal Deek Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 10:00 AM, ALF said: Not everyone would volunteer , change the code especially loop holes would be fair to all. Expand Exactly! That’s why it’s called volunteering. I’m going to guess you don’t donate to the same charities that I do…but that’s perfectly fine, and I don’t require you to donate to the ones that I support.
ALF Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 12:09 PM, SoCal Deek said: Exactly! That’s why it’s called volunteering. I’m going to guess you don’t donate to the same charities that I do…but that’s perfectly fine, and I don’t require you to donate to the ones that I support. Expand I'll bet you don't believe billionaires like Trump don't abuse loop holes. The national debt is no biggy also. I know cut spending would you be ok with less Defense , less Border Patrol ?
SoCal Deek Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 12:28 PM, ALF said: I'll bet you don't believe billionaires like Trump don't abuse loop holes. The national debt is no biggy also. I know cut spending would you be ok with less Defense , less Border Patrol ? Expand Huh? “Billionaires like Trump” don’t write the tax code…Congress does. What you call a loop hole is slang for the law of the land, and I’m pretty sure you use ‘loop holes’ yourself. Your ire is misplaced. Whether you know it or not, you’re pushing g for a flat tax…which I would also prefer.
ALF Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 12:40 PM, SoCal Deek said: Huh? “Billionaires like Trump” don’t write the tax code…Congress does. What you call a loop hole is slang for the law of the land, and I’m pretty sure you use ‘loop holes’ yourself. Your ire is misplaced. Whether you know it or not, you’re pushing g for a flat tax…which I would also prefer. Expand Always used standard deduction 1
All_Pro_Bills Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 12:40 PM, SoCal Deek said: Huh? “Billionaires like Trump” don’t write the tax code…Congress does. What you call a loop hole is slang for the law of the land, and I’m pretty sure you use ‘loop holes’ yourself. Your ire is misplaced. Whether you know it or not, you’re pushing g for a flat tax…which I would also prefer. Expand A flat tax absent lots of exemptions, deductions, exclusions, and schedules like depreciation and amortization would be much more convenient and simple but also hugely disruptive to the accounting and tax preparation professions. On 5/24/2022 at 12:49 PM, ALF said: Always used standard deduction Expand I've traditionally itemized but since Trump screwed individual payers in high tax states with SALT limitations the standard deduction has been the best option and my effective tax rate has been higher the past few years.
Chef Jim Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 12:28 PM, ALF said: I'll bet you don't believe billionaires like Trump don't abuse loop holes. The national debt is no biggy also. I know cut spending would you be ok with less Defense , less Border Patrol ? Expand Abuse loopholes? Give us an example of billionaire loophole abuse. On 5/24/2022 at 12:49 PM, ALF said: Always used standard deduction Expand And have you thanked Donald Trump for doubling your deduction? Oh wait….he only cut taxes for the rich. So how rich are you?
ALF Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 1:28 PM, Chef Jim said: Abuse loopholes? Give us an example of billionaire loophole abuse. And have you thanked Donald Trump for doubling your deduction? Oh wait….he only cut taxes for the rich. So how rich are you? Expand Waiting for Trump to release all is tax returns so Rachel Maddow can audit them. Yes I do thank Trump for doubling the standard deduction.
Chef Jim Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 1:41 PM, ALF said: Waiting for Trump to release all is tax returns so Rachel Maddow can audit them. Expand So your billionaire tax loophole abuse was something you just threw out there with nothing to back it up with? Got it.
ALF Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 1:43 PM, Chef Jim said: So your billionaire tax loophole abuse was something you just threw out there with nothing to back it up with? Got it. Expand Warren Buffett says he's still paying lower tax rate than his secretary March 4, 2013 https://money.cnn.com/2013/03/04/news/economy/buffett-secretary-taxes/index.html This was way before Trump cuts.
Chef Jim Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 1:49 PM, ALF said: Warren Buffett says he's still paying lower tax rate than his secretary March 4, 2013 https://money.cnn.com/2013/03/04/news/economy/buffett-secretary-taxes/index.html This was way before Trump cuts. Expand And where is the abuse? Why has Buffer not been charged with tax evasion? See when you use the rules in place to your advantage it’s not abuse. Wouldn’t you agree?
ALF Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 1:50 PM, Chef Jim said: And where is the abuse? Why has Buffer not been charged with tax evasion? See when you use the rules in place to your advantage it’s not abuse. Wouldn’t you agree? Expand Nope , cutting taxes for the rich when they don't need even more money is unfair , per AOC 🙂
Chef Jim Posted May 24, 2022 Posted May 24, 2022 (edited) On 5/24/2022 at 1:54 PM, ALF said: Nope , cutting taxes for the rich when they don't need even more money is unfair , per AOC 🙂 Expand Methinks you don’t know what the term abuse means. How is it abuse if they are following the tax laws put in place? So getting to keep more of theirs is needing more money? 🤔 Edited May 24, 2022 by Chef Jim
ALF Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 1:57 PM, Chef Jim said: Methinks you don’t know what the term abuse means. How is it abuse if they are following the tax laws put in place? So getting to keep more of theirs is needing more money? 🤔 Expand Pass fair tax laws and there will be a lot less abuse. Loop holes are written by lobbyists for guess who.
Chef Jim Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 2:02 PM, ALF said: Pass fair tax laws and there will be a lot less abuse. Loop holes are written by lobbyists for guess who. Expand Define a fair tax code.
Tenhigh Posted May 24, 2022 Posted May 24, 2022 (edited) On 5/24/2022 at 1:41 PM, ALF said: Yes I do thank Trump for doubling the standard deduction. Expand I always knew that you were a Trumper 😁 On 5/24/2022 at 2:02 PM, ALF said: Pass fair tax laws and there will be a lot less abuse. Loop holes are written by lobbyists for guess who. Expand Do you think there is a dollar limit to how much one individual should have to pay in taxes? Edited May 24, 2022 by Tenhigh 1
Chef Jim Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 2:10 PM, Tenhigh said: Do you think there is a dollar limit to how much one individual should have to pay in taxes? Expand My answer is hell no. There is no limit to how much one can earn so why would there be a limit on the dollar amount they pay in taxes. Kind of why there is an income limit on SS tax. The reason is because there is a cap on the SS income when collecting.
ALF Posted May 24, 2022 Posted May 24, 2022 Let Warren Buffett head a committee to recommend a fair tax code. That of course would never happen.
Over 29 years of fanhood Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 1:10 PM, All_Pro_Bills said: A flat tax absent lots of exemptions, deductions, exclusions, and schedules like depreciation and amortization would be much more convenient and simple but also hugely disruptive to the accounting and tax preparation professions. I've traditionally itemized but since Trump screwed individual payers in high tax states with SALT limitations the standard deduction has been the best option and my effective tax rate has been higher the past few years. Expand This! Despite all the rhetoric my effective tax rate went up (and total payout too) under recently changed tax policy because we do well and are in a blue state with a relatively new mortgage. That April balance owed was quite larger than previous years and has been since. at the same the retirees or lower income earners in my family and renters saw their tax returns (whatever that is) increase by a bunch. so in reality that tax policy change muted the tax benefit from buying expensive mortgages in rich states. any genuine democrat for the people should have embraced it as a step in the right direction.
Over 29 years of fanhood Posted May 24, 2022 Posted May 24, 2022 On 5/24/2022 at 3:02 PM, ALF said: If the national debt is not a problem then all is well . Expand sort of like climate change, It’s not a problem until it is but by then you probably just learned to live with it anyway.
Recommended Posts