Civil War II: How Do You Want It To End?

[Brown Down]

A VAT with a large enough percentage to cover mandated services.....you wouldn't have any money left to spend.
A VAT would discourage consumption and this economy is driven by consumption and the ability of poor people to get credit.

Might have to actually balance a budget like us regular folks have to then.

 

[Thebrownblob]

What van said is what I was saying. Get rid of the absolute mess of tax codes we have now. It's beyond convoluted. I know I've had a small business, my dad did as well and I have a ton of friends who do as well. I've both done and see how stupid it is.

Simple is better. Straight percent individual and business. Why make it more difficult.

Shouldn’t take more than 10 minutes to do your taxes. Instead, there’s a whole industry based on it.

 

[Brown Down]

Hypothetical would be 15 federal, 5 state, and if a municipality wanted sales tax of 5 percent.
The big thing is the govt cannot keep printing money. If I'm broke I'm broke. No eating out, buying useless crap, etc. I make a budget and keep to it. So should the govt.

 

[DriveInDriveOut]

there is an estimated 500 billion dollars of federal income tax owed but yet to be collected because the IRS does not have the budget

That's a common theory.
The problem is the IRS in the past has had it's budget increased with little effect on the tax gap.

Throwing more money at things that are failures is the go to Democrat strategy, and it rarely works.

 

[Thebrownblob]

That's a common theory.
The problem is the IRS in the past has had it's budget increased with little effect on the tax gap.

Throwing more money at things that are failures is the go to Democrat strategy, and it rarely works.

Remember, the Biden administration was going to hire all these thousands of extra tax agents to go after these big giant billionaires and millionaires instead they’re coming after $600 and Venmo users L O L

“Originally slated to take effect in 2022, this IRS reporting change will eventually have payment apps report income over $600 to the tax agency. Previously, third-party apps only sent 1099-Ks to users who received $20,000 in commercial payments across more than 200 transactions.”

1099-K IRS Tax Change: What PayPal, Venmo and Cash App Users Need to Know

After two years of delays, the IRS's third-party payment apps reporting change could impact your 2024 taxes.

www.cnet.com

 

[sailfish]

Shouldn’t take more than 10 minutes to do your taxes. Instead, there’s a whole industry based on it.

Shouldn't be having to do taxes, period.

 

[oldngray]

Shouldn't be having to do taxes, period.

Politicians have to leave in loopholes for themselves

 

[bacha29]

Remember, the Biden administration was going to hire all these thousands of extra tax agents to go after these big giant billionaires and millionaires instead they’re coming after $600 and Venmo users L O L

“Originally slated to take effect in 2022, this IRS reporting change will eventually have payment apps report income over $600 to the tax agency. Previously, third-party apps only sent 1099-Ks to users who received $20,000 in commercial payments across more than 200 transactions.”

1099-K IRS Tax Change: What PayPal, Venmo and Cash App Users Need to Know

After two years of delays, the IRS's third-party payment apps reporting change could impact your 2024 taxes.

www.cnet.com

In order to get a budget deal done the administration had to give back the money allotted for the purpose of hiring new IRS field agents to go out and track down the deadbeats and call in the tax cheats and make them prove their deductions and incomes in person. All to simply replace the agents who have retired over the years.

You guys and your keen knowledge regarding what you believe to be fair taxation are openly welcomed to offer your plan to overhaul the US tax code. It has to do 2 things right off the bat.

1. At the very least be revenue neutral.
2. In addition, generate enough revenue to cover transition costs.

If not then your plan won't even get out of committee.

 

[Brown Down]

In order to get a budget deal done the administration had to give back the money allotted for the purpose of hiring new IRS field agents to go out and track down the deadbeats and call in the tax cheats and make them prove their deductions and incomes in person. All to simply replace the agents who have retired over the years.

You guys and your keen knowledge regarding what you believe to be fair taxation are openly welcomed to offer your plan to overhaul the US tax code. It has to do 2 things right off the bat.

1. At the very least be revenue neutral.
2. In addition, generate enough revenue to cover transition costs.

If not then your plan won't even get out of committee.

it won't get out of the committee because they want it convoulted.

 

[bacha29]

it won't get out of the committee because they want it convoulted.

No, if it is a revenue neutral plan it will at least get it's day in front of committee . You can't leave Treasury so revenue short that it has to go into the credit markets hogging up even more cash credit than it current does.
Remember, many federal programs are mandated by law to receive full federal funding.

 

[vantexan]

A VAT with a large enough percentage to cover mandated services.....you wouldn't have any money left to spend.
A VAT would discourage consumption and this economy is driven by consumption and the ability of poor people to get credit.

How do you know that? VAT's are used all over the world successfully.

 

[vantexan]

No, if it is a revenue neutral plan it will at least get it's day in front of committee . You can't leave Treasury so revenue short that it has to go into the credit markets hogging up even more cash credit than it current does.
Remember, many federal programs are mandated by law to receive full federal funding.

Which Federal programs outside of Social Security and Medicare are mandated by law to receive full Federal funding? And those two are paid for by separate taxes.

 

[vantexan]

No, if it is a revenue neutral plan it will at least get it's day in front of committee . You can't leave Treasury so revenue short that it has to go into the credit markets hogging up even more cash credit than it current does.
Remember, many federal programs are mandated by law to receive full federal funding.

In 2013 mandatory spending was 40% of total Federal spending according to the CBO. Of that 40% 65% went to Social Security and Medicare. Don't know the current percentages but looks like outside of those two programs not that much is spent on mandatory programs. A good deal of Federal spending is discretionary spending.

 

[DriveInDriveOut]

You guys and your keen knowledge regarding what you believe to be fair taxation are openly welcomed to offer your plan to overhaul the US tax code. It has to do 2 things right off the bat.

1. At the very least be revenue neutral.
2. In addition, generate enough revenue to cover transition costs.

If not then your plan won't even get out of committee.

Why haven't you done this?
Go ahead.

 

[vantexan]

In order to get a budget deal done the administration had to give back the money allotted for the purpose of hiring new IRS field agents to go out and track down the deadbeats and call in the tax cheats and make them prove their deductions and incomes in person. All to simply replace the agents who have retired over the years.

You guys and your keen knowledge regarding what you believe to be fair taxation are openly welcomed to offer your plan to overhaul the US tax code. It has to do 2 things right off the bat.

1. At the very least be revenue neutral.
2. In addition, generate enough revenue to cover transition costs.

If not then your plan won't even get out of committee.

The Fair Tax has already been approved by dozens of economists and economic professors. You're apparently unaware of the hundreds of billions spent annually just to comply with the current tax code.

 

[BrownFlush]

 

[bacha29]

The Fair Tax has already been approved by dozens of economists and economic professors. You're apparently unaware of the hundreds of billions spent annually just to comply with the current tax code.

I'm NOT the one hollering for a VAT or any other type of overhaul.
So get your numbers together place your name on the agenda then go before the House Ways And Means Committee and present them with your VAT plan. Show them how it will cover the transition costs, will at a minimum be revenue neutral and how it can be enforced well enough that it does not create an underground economy so large that VAT revenues fall so dramatically that it creates a revenue shortfall so extreme that Treasury has to put many times more T-bills out there hoping the banks will bid on them.....And in doing so drive the debt that you're always hollering which you're Orange Jesus was a much responsible as anybody else even higher.

Look you guys do nothing but spend all day hashing over the same things over and over again boosting commentary from Fox News and other conservative media then recite it back and forth to each other. What's the sense in that? More importantly....what good do you think you're doing?

Now look I don't have time for this. This morning I go in front of the county commissioners and testify in regard to a major violation of the state's county code as it pertains to property taxes relative to the commissioners practice of using millage increases in order to stockpile cash balances well above accepted norms and stated guidelines.

 

[DriveInDriveOut]

I'm NOT the one hollering for a VAT or any other type of overhaul.

So you think the tax system is great the way it is.

Okay.
Bye then.

Now look I don't have time for this.

Okay.
Bye then.

 

[Thebrownblob]

I'm NOT the one hollering for a VAT or any other type of overhaul.
So get your numbers together place your name on the agenda then go before the House Ways And Means Committee and present them with your VAT plan. Show them how it will cover the transition costs, will at a minimum be revenue neutral and how it can be enforced well enough that it does not create an underground economy so large that VAT revenues fall so dramatically that it creates a revenue shortfall so extreme that Treasury has to put many times more T-bills out there hoping the banks will bid on them.....And in doing so drive the debt that you're always hollering which you're Orange Jesus was a much responsible as anybody else even higher.

Look you guys do nothing but spend all day hashing over the same things over and over again boosting commentary from Fox News and other conservative media then recite it back and forth to each other. What's the sense in that? More importantly....what good do you think you're doing?

Now look I don't have time for this. This morning I go in front of the county commissioners and testify in regard to a major violation of the state's county code as it pertains to property taxes relative to the commissioners practice of using millage increases in order to stockpile cash balances well above accepted norms and stated guidelines.

 

[vantexan]

I'm NOT the one hollering for a VAT or any other type of overhaul.
So get your numbers together place your name on the agenda then go before the House Ways And Means Committee and present them with your VAT plan. Show them how it will cover the transition costs, will at a minimum be revenue neutral and how it can be enforced well enough that it does not create an underground economy so large that VAT revenues fall so dramatically that it creates a revenue shortfall so extreme that Treasury has to put many times more T-bills out there hoping the banks will bid on them.....And in doing so drive the debt that you're always hollering which you're Orange Jesus was a much responsible as anybody else even higher.

Look you guys do nothing but spend all day hashing over the same things over and over again boosting commentary from Fox News and other conservative media then recite it back and forth to each other. What's the sense in that? More importantly....what good do you think you're doing?

Now look I don't have time for this. This morning I go in front of the county commissioners and testify in regard to a major violation of the state's county code as it pertains to property taxes relative to the commissioners practice of using millage increases in order to stockpile cash balances well above accepted norms and stated guidelines.

On what planet do regular citizens just show up and wow Congress with their ideas? We'll reduce the debt when those in power no longer are spending like drunken sailors in order to keep their.power. In other words never.