quote:

Originally posted by Rey HRH:
The problem isn't a matter of tax revenue; the problem is a matter of tax spending.

You've provided the false dilemma logical fallacy where you've erroneously limited the options.

The truth is that there are problems with both the current income tax system AND the insane amount of gov't spending. However, this thread is talking about the former.

I don't see a resolution as long as the Govt was taxes to support the world

I am going to file an extension just in case.

Hell, they should be easy, I hardly worked last year.

Somehow I feel I will still owe this shit stain called Durham something.

My returns were rejected by the IRS. The reason was that they said my daughter was also claimed by another filer (ex wife). She had already done her taxes and did not claim my daughter. Turns out that Bidens tax credit is the problem. I swear, has that Administration done anything right? How in hell have they managed to fuck up everything they have touched? So needless to say I took her off my taxes and my ex will get another year of claiming her. Of course she will have to file an amended return so its also a hassle for her.

quote:

Originally posted by cobre sig:
Turns out that Bidens tax credit is the problem. I swear, has that Administration done anything right? How in hell have they managed to fuck up everything they have touched?

https://www.cbs19news.com/stor...-expletive-things-up

(YAHOO) - Barack Obama reportedly spoke with a Democrat, expressing his private doubts about Joe Biden becoming the Democrat presidential nominee in 2020.

According to Politico, the former president said: "Don't underestimate Joe's ability to fuck things up."

quote:

Originally posted by tatortodd:

quote:

Originally posted by Rey HRH:
The problem isn't a matter of tax revenue; the problem is a matter of tax spending.

You've provided the false dilemma logical fallacy where you've erroneously limited the options.

The truth is that there are problems with both the current income tax system AND the insane amount of gov't spending. However, this thread is talking about the former.

It’s not a false dilemma. As you alluded to, this thread was about INCOME TAX and its associated complexity. You want to swap it with a SALES TAX. There are plenty of things that can be done to simplify the income tax system without swapping it out.

If the revenue from income taxes is 13% of all income earned, then sales tax will have to be higher than 13% just from the fact that hopefully a good number of people won’t be spending everything they earn as they set aside for retirement.

quote:

Originally posted by Rey HRH:
It’s not a false dilemma. As you alluded to, this thread was about INCOME TAX and its associated complexity. You want to swap it with a SALES TAX. There are plenty of things that can be done to simplify the income tax system without swapping it out.

If the revenue from income taxes is 13% of all income earned, then sales tax will have to be higher than 13% just from the fact that hopefully a good number of people won’t be spending everything they earn as they set aside for retirement.

This is where the adults need to be in charge of setting an actual budget, under penalty of prison for everyone with a hand in failing to maintain a balanced budget.

Here's the total funds we have this year, here's a prioritized list of what we need. Everything else is off the table for the year.

quote:

Originally posted by the_sandman_454:

quote:

Originally posted by Rey HRH:
It’s not a false dilemma. As you alluded to, this thread was about INCOME TAX and its associated complexity. You want to swap it with a SALES TAX. There are plenty of things that can be done to simplify the income tax system without swapping it out.

If the revenue from income taxes is 13% of all income earned, then sales tax will have to be higher than 13% just from the fact that hopefully a good number of people won’t be spending everything they earn as they set aside for retirement.

This is where the adults need to be in charge of setting an actual budget, under penalty of prison for everyone with a hand in failing to maintain a balanced budget.

Here's the total funds we have this year, here's a prioritized list of what we need. Everything else is off the table for the year.

The US budget for 2020 was $6.5 trillion with tax revenue of $3.4 trillion with a deficit of $3.1 trillion. If we go back to 2019 to take out the COVID impact, that year had a budget of $4.5 trillion with revenues of $3.5 trillion and a deficit of $1 trillion.

70% of the budget is non-discretionary and is driven by social security, Medicare, and Medicaid. Discretionary spending in the budget is from 20% to 30% of the budget. 30% of the 2019 budget then is $1.35 trillion. If we keep to a zero deficit and never mind paying down the national debt, that means we have to reduce the 2019 discretionary budget by $1 trillion. That means we have to reduce the discretionary spending by 75%. That's going to be a lot of pain for some people especially congress people addicted to spending Other People's Money.

The whole discretionary vs non-discretionary is just a legal fiction. You could change either one with a simple vote.

quote:

Originally posted by Nuclear:
The whole discretionary vs non-discretionary is just a legal fiction. You could change either one with a simple vote.

And take out or reduce Social Security and Medicare Benefits for those who have paid into the system their working lives???

quote:

Originally posted by Rey HRH:

quote:

Originally posted by Nuclear:
The whole discretionary vs non-discretionary is just a legal fiction. You could change either one with a simple vote.

And take out or reduce Social Security and Medicare Benefits for those who have paid into the system their working lives???

SS and Medicare are often referred to as the third rail of politics.

For those who don't know, the third rail is one where high currents are brought into electric full size trains and it will kill you if you touch it.

What people have paid in their whole working lives has been commingled for decades. Medicare is bankrupt, and Social Security will be soon. We are spending much more than we are taking in as a country, and borrowing from our enemy. When paying the interest on that borrowed money reaches a certain point, we will have to reduce SS & Medicare.

^^^Maybe if we make healthcare 'free' that will solve the problem...

When you consider half the public, in essence, doesn't pay taxes, 10 percent ought to work. Get rid of the crap breaks like EIC, which is just welfare.

quote:

Originally posted by Nuclear:
What people have paid in their whole working lives has been commingled for decades. Medicare is bankrupt, and Social Security will be soon. We are spending much more than we are taking in as a country, and borrowing from our enemy. When paying the interest on that borrowed money reaches a certain point, we will have to reduce SS & Medicare.

Only if they eliminate virtually all welfare first. Then it would be politically acceptable.