US Goods Inflation

[Bug&Bug 147]

25 minutes ago, CanAm1980 said:

I have had three great years in the stock market, I wouldn't complain if I paid a little more on the on the long term Cap gains.  As Warren Buffet has said, it makes no sense that my tax rate is lower than my Admins. 

 

But there is another issue:

Lets just start with enforcement against tax fraud / evasion by the richest.  Congress has gutter IRS enforcement while the "shmucks" like us have audits at historic highs.  

Oh yeah defenetly. You can do all of these things in parallel, no need to pick and choose: higher corporate tax, higher marginal tax in the higher bands, crack down on evasion and remove tax caps for corporations and high earners ( why is that even a thing?). 

 

And relief at the lower levels for small businesses and low earners to keep the economy moving and not have it all stuck and hoarded by the 1%.

[Dashinka 24,487]

45 minutes ago, CanAm1980 said:

I have had three great years in the stock market, I wouldn't complain if I paid a little more on the on the long term Cap gains.  As Warren Buffet has said, it makes no sense that my tax rate is lower than my Admins. 

 

But there is another issue:

Lets just start with enforcement against tax fraud / evasion by the richest.  Congress has gutter IRS enforcement while the "shmucks" like us have audits at historic highs.  

 

Just watch the Laundromat or Panama Papers  documentary if you want your blood to boil.   

 

You can always write a bigger check to the IRS, nothing is stopping you, you do you.  As to Buffet, maybe he would be a better person if he structured his Admin's pay like his and then they would be in a better tax situation..

[Ban Hammer 13,332]

58 minutes ago, CanAm1980 said:

45k in NY , Bay Area or Seattle is not going to get a family of 4 very far, I guess they should break up the family and "vote with their feet" The people harvesting my food,  delivering my packages, ringing my groceries, washing my bathrooms and making my Martini extra dry deserve to be paid enough to move themselves forward.    Some are just profits that companies are putting in their pockets and not taking care of their people.

middle class income varies from location to location.  if one is making minimum wage in those areas, relocating might be a good idea. 
also interesting is that all of them are democratic party run......

[Crtcl Rice Theory 2,432]

17 minutes ago, Ban Hammer said:

middle class income varies from location to location.  if one is making minimum wage in those areas, relocating might be a good idea. 
also interesting is that all of them are democratic party run......

And prosperous, hence the high rents

[Crtcl Rice Theory 2,432]

40 minutes ago, Dashinka said:

You can always write a bigger check to the IRS, nothing is stopping you, you do you.  As to Buffet, maybe he would be a better person if he structured his Admin's pay like his and then they would be in a better tax situation..

Start by collecting the money that is owed by law. I pay my taxes, I am sure you do, why should elites get to cheat the system with minimal insight.

[Dashinka 24,487]

26 minutes ago, CanAm1980 said:

Start by collecting the money that is owed by law. I pay my taxes, I am sure you do, why should elites get to cheat the system with minimal insight.

You are painting the rich elites with a broad brush.  Are you suggesting that all of them are cheating.  As to the increase in corporate taxes, we all know that is simply a hidden tax for everyone, and the fact that Biden Admin is pushing for a global minimum corporate tax simply signals that they know a huge increase in corporate taxes in the US will have very negative impacts for the US.

[yuna628 9,671]

Painting with a broad brush is something this forum likes to do on a consistent basis though. If it's not painting 'rich' or 'elites', it's painting 'the poor', 'unemployed', and 'lazy' whomever all those people are.

[Crtcl Rice Theory 2,432]

1 hour ago, Dashinka said:

You are painting the rich elites with a broad brush.  Are you suggesting that all of them are cheating.  As to the increase in corporate taxes, we all know that is simply a hidden tax for everyone, and the fact that Biden Admin is pushing for a global minimum corporate tax simply signals that they know a huge increase in corporate taxes in the US will have very negative impacts for the US.

I clearly did not state that "all" or even "most" are cheating.  What is clearly documented is that in recent years congress has directly or indirectly targeted lower income brackets where wealthy and powerful corporations and individuals have been given a pass .....the fact that the wealthy have access to offshore banks, sketch legal firms and can put up a fight more easily than everyday people just makes the playing field unfair to small businesses and working  people.  

 

"Spending billions more on audits is intended to reverse a multi-year trend of falling audit rates at the IRS. Commissioner Chuck Rettig told a congressional panel this month that as much as $1 trillion in taxes may go uncollected each year. He said the agency has lost 17,000 enforcement personnel since 2010. "

 

https://www.bloomberg.com/news/articles/2021-04-27/biden-said-to-propose-tax-hikes-80-billion-for-audits-of-rich

[Ban Hammer 13,332]

2 hours ago, CanAm1980 said:

And prosperous, hence the high rents

amusing what sells for half a million dollars in some of those "prosperous" locations.  

[Dashinka 24,487]

45 minutes ago, Ban Hammer said:

amusing what sells for half a million dollars in some of those "prosperous" locations.  

Definitely in no way worth it.

[Dashinka 24,487]

 

56 minutes ago, CanAm1980 said:

I clearly did not state that "all" or even "most" are cheating.  What is clearly documented is that in recent years congress has directly or indirectly targeted lower income brackets where wealthy and powerful corporations and individuals have been given a pass .....the fact that the wealthy have access to offshore banks, sketch legal firms and can put up a fight more easily than everyday people just makes the playing field unfair to small businesses and working  people.  

 

"Spending billions more on audits is intended to reverse a multi-year trend of falling audit rates at the IRS. Commissioner Chuck Rettig told a congressional panel this month that as much as $1 trillion in taxes may go uncollected each year. He said the agency has lost 17,000 enforcement personnel since 2010. "

 

https://www.bloomberg.com/news/articles/2021-04-27/biden-said-to-propose-tax-hikes-80-billion-for-audits-of-rich

Yes, we already discussed the atrocious return on that investment.  $40 billion/yr increased budget for the IRS for an estimated $10 billion/yr increased tax collected.  You do have to wonder since the IRS audit reductions started under Obama, if there was an increase in donations to the Democrat Party.  You have to remember, the DC elite leadership class does not give a darn about the regular people, but they do need to protect their huge donor class.

 

 

Edited May 4, 2021 by Dashinka

[LIBrty4all 3,749]

4 hours ago, CanAm1980 said:

And prosperous, hence the high rents

        

Edited May 5, 2021 by LIBrty4all

[LIBrty4all 3,749]

 

4 hours ago, CanAm1980 said:

Start by collecting the money that is owed by law. I pay my taxes, I am sure you do, why should elites get to cheat the system with minimal insight.

 

What is an "elite"? And what makes you think they are cheating the system?

Edited May 5, 2021 by LIBrty4all

[Crtcl Rice Theory 2,432]

1 hour ago, LIBrty4all said:

        

2 hours ago, Dashinka said:

 

Yes, we already discussed the atrocious return on that investment.  $40 billion/yr increased budget for the IRS for an estimated $10 billion/yr increased tax collected.  You do have to wonder since the IRS audit reductions started under Obama, if there was an increase in donations to the Democrat Party.  You have to remember, the DC elite leadership class does not give a darn about the regular people, but they do need to protect their huge donor class.

 

 

 

"We" discussed?  The claim of the IRS director is 1 trillion not 10 billion. That's a damn good return. Where did you imagine 10 billion based on?

 

1 hour ago, LIBrty4all said:

 

 

What is an "elite"? And what makes you think they are cheating the system?

https://www.bloomberg.com/news/articles/2021-04-27/biden-said-to-propose-tax-hikes-80-billion-for-audits-of-rich

 

Already posted in this thread. 

[LIBrty4all 3,749]

18 minutes ago, CanAm1980 said:

https://www.bloomberg.com/news/articles/2021-04-27/biden-said-to-propose-tax-hikes-80-billion-for-audits-of-rich

 

Already posted in this thread. 

Didn't see the word "elite" anywhere in that link.  I think you perhaps mean "rich", and are just confusing the two terms?

 

Still, how do you think anyone is "cheating the system"?