Irs audited low income families the most

#26
#26
SpaceCoastVol said:
They aren't cheating and stealing any more than rich people are. They are using the laws as written. Those laws should be changed. Flat tax on ALL income. Period. No deductions. Period. (rate set via constitutional amendment)
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So take away all incentive for business investment?
 
#28
#28
hog88 said:
So take away all incentive for business investment?
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Profit should be the incentive, not some weird tax breaks.

The taxes shouldn't even be there, mind, but taxes as a business incentive is ass backwards.
 
#29
#29
ButchPlz said:
Profit should be the incentive, not some weird tax breaks.

The taxes shouldn't even be there, mind, but taxes as a business incentive is ass backwards.
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They're not talking about taxing just profit, they are talking about taxing total receipts and not taking into account expenses.
 
#30
#30
ButchPlz said:
25% is still absurd.

I'd rather just have a national sales tax and nothing else. We didn't need a federal income tax before, and we certainly don't need one now.
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I'm not opposed to that...

Even though the government would find a way of screwing it up.
 
#31
#31
hog88 said:
You're not the Lone Ranger. I just doubt that they actually go after the ones duping the low income folks and go after the low income folks.
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Locally, they have thrown the MO Money Taxes guys in jail.

All of this Optima Tax Relief stuff has largely sprung up from the IRS going after EITC fraud. That's the biggest part of their business.
 
#33
#33
hog88 said:
No, earnings are from employment. Income can be from an IRA, investments, social security, sell of a house ext.
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Earnings are a form of income, hence, income to the individual. Yes, tax it up front.

And take educational institutions off the tax free list. They get "earnings" as well and call it "endowment." And churches. I'd dare say a lot of "non-profit" institutions should get the axe.

Corporate tax at 20% is the only exception to the 25% rule. But again, no breaks.

You're splitting hair like the government does with the earnings and income statement. That's how people start gaming the system.
 
#34
#34
Grand Vol said:
Earnings are a form of income, hence, income to the individual. Yes, tax it up front.

And take educational institutions off the tax free list. They get "earnings" as well and call it "endowment." And churches. I'd dare say a lot of "non-profit" institutions should get the axe.

Corporate tax at 20% is the only exception to the 25% rule. But again, no breaks.

You're splitting hair like the government does with the earnings and income statement. That's how people start gaming the system.
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So you are advocating for businesses not being able to write off expenses?
 
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#35
#35
I'd prefer the federal income tax go the way of the dodo bird but since that isn't happening:

1. Corporations not subject to federal income tax
2. Do away with employer provided healtcare
3. Individuals/LLCs subject to a 15% flat income tax on all income except social security
4. Individual healthcare plan premiums are deducted from top line income

All a pipe dream since the tax codes main purpose is to promote spending and control the masses. Federal .gov isn't giving that power up.
 
#36
#36
hog88 said:
They're not talking about taxing just profit, they are talking about taxing total receipts and not taking into account expenses.
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That's how they do personal income too. Only things you can generally take out are other taxes.

The trade off for businesses, and everyone else, would be fewer little taxes elsewhere. So yes you arent incentivized to make those investments, but you also wouldnt be taxed on them either. Depending on which method we are talking about.
 
#37
#37
VolStrom said:
A flat income tax has about as much chance of becoming a reality as term limits for congress.
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That's a good thing because it's almost punitive to the lower classes. Sales tax and end it.
 
#38
#38
LouderVol said:
That's how they do personal income too. Only things you can generally take out are other taxes.

The trade off for businesses, and everyone else, would be fewer little taxes elsewhere. So yes you arent incentivized to make those investments, but you also wouldnt be taxed on them either. Depending on which method we are talking about.
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Fewer little taxes like FICA, FUDA, SUDA, fuel tax, HVT tax, FET, ext? What about expenses?
 
#40
#40
hog88 said:
There could be a lower limit on income where it's not subject to tax.
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agree there would have to be but it's common around here to see "no exceptions" which is why I've called it out.
 
#41
#41
hog88 said:
Fewer little taxes like FICA, FUDA, SUDA, fuel tax, HVT tax, FET, ext? What about expenses?
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That was my assumption on the little taxes. If we are simplifying we are simplifying.

Expenses wouldnt be part of the equation. Simple.

Again, if I may 50k and spend 100k, I dont get to write off any of that extra 50k, even though it's getting taxed, paying for goods from businesses etc. Or even if it's not going into debt, I dont get a food deduction, or generally a housing one. I would assume first time homeowner benefit would be dropped too.
 
#42
#42
hog88 said:
I'd prefer the federal income tax go the way of the dodo bird but since that isn't happening:

1. Corporations not subject to federal income tax
2. Do away with employer provided healtcare
3. Individuals/LLCs subject to a 15% flat income tax on all income except social security
4. Individual healthcare plan premiums are deducted from top line income

All a pipe dream since the tax codes main purpose is to promote spending and control the masses. Federal .gov isn't giving that power up.
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You make some good points. What I would argue with is #2 is not required of any employer unless something changed I'm not aware of. Also, #4 would be great if people would actually buy health insurance when not "provided/subsidized" by their employer. Just the shock of seeing a $1000/mo premium payment coming out of their check would probably cause a lot of people to not take it and "roll the dice" on not getting sick/injured, and you'd have a nightmare in the healthcare industry.
 
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#43
#43
LouderVol said:
That was my assumption on the little taxes. If we are simplifying we are simplifying.

Expenses wouldnt be part of the equation. Simple.

Again, if I may 50k and spend 100k, I dont get to write off any of that extra 50k, even though it's getting taxed, paying for goods from businesses etc. Or even if it's not going into debt, I dont get a food deduction, or generally a housing one. I would assume first time homeowner benefit would be dropped too.
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would assume first time homeowner benefit would be dropped too.
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What is the first time homeowner benefit, I haven't heard of this perk before?
 
#46
#46
BigOrangeMojo said:
Naw, just imagine the shock at seeing a far right poster complaining about the IRS going after mostly Democrats for filing fraudulent refund claims...
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I don't want to see any American get harassed by your fed gov. Thanks for the compliment though
 
#47
#47
Grand Vol said:
I'm not opposed to that...

Even though the government would find a way of screwing it up.
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The government wants more and more money. They don't care about cutting spending. It's sad that we are at the point where we can only talk about how much more taxes the government can get and not the fact that they need to stop spending
 
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