Top 1% evade $163 billion/year in taxes

[Septic]

The top 1 percent are evading $163 billion a year in taxes, the Treasury finds.

When I see how the .gov has been handing out money for people to stay home, I applaud people for finding legal solutions to avoid having to pay into that complete waste of tax payer funds.

 

[evillawyer]

You're the type who would feel guilty wearing a white t-shirt

I only do the wet t-shirt shows for @NorthDallas40

 

[Septic]

Personally, I'm happy the government doesn't get another 163 billion. Their budget is about 90% higher than it should be anyway.

If they got an additional 163 billion, they'd gin up a way to spend another $200 billion.

 

[NorthDallas40]

I only do the wet t-shirt shows for @NorthDallas40

I’m not interested in Weezer’s worn out cast offs

 

[NorthDallas40]

If they got an additional 163 billion, they'd gin up a way to spend another $200 billion.

 

[McDad]

I got a pay wall. But even if we collected that One Hundred Sixty Three Billion Dollars. We would still have a budget shortfall in the trillions. So maybe this can help you that our government has a massive spending problem and we need to start cutting things.

In 2020, Uncle Sam spent 6.55 trillion dollars. Equivalent to 17.9 Billion per day.
With this 163 Billion, it will cover spending for 9 days.

Our problems are solved! Praise Biden.

 

[NEO]

When I see how the .gov has been handing out money for people to stay home, I applaud people for finding legal solutions to avoid having to pay into that complete waste of tax payer funds.

Even @Septic is tired of seeing his hard earned money go to government waste.

 

[NEO]

We just handed billions of dollars of weapons paid for by US citizens over to a terrorist group and you want us to give them more money.

Why? So we can buy even more weapons terrorist can use to kill us and other innocent people with?

 

[Septic]

In 2020, Uncle Sam spent 6.55 trillion dollars. Equivalent to 17.9 Billion per day.
With this 163 Billion, it will cover spending for 9 days.

Our problems are solved! Praise Biden.

The class warfare schtick is so effing tiresome. As you know, income isn't he problem - it's the frivolous spending. But in the run up, the K street narrative shifts to people not paying their fair share as the gambit to create the us vs them division. The fat cats pork barreling their way through budget reconciliations must be laughing there asses of at us.

 

[MG1968]

Presumably you say the same when petty criminals of darker skin tones get away with their crimes.

If you didn’t have baseless cries of racism in your arsenal, you’d still be pathetic.

And, taking legal advantage of the tax code isn’t the same thing as criminal activity. I thought you were a lawyer?

 

[Septic]

Even @Septic is tired of seeing his hard earned money go to government waste.

Even Septic?

Hell, I can almost promise you that I'm more fiscally conservative than most. I have a quarterly tax payment that's due on the edge of my desk that raises my blood pressure every time I walk into the room.

 

[UT_VOLS13]

If they got an additional 163 billion, they'd gin up a way to spend another $200 billion.

Fact!

 

[NEO]

Even Septic?

Hell, I can almost promise you that I'm more fiscally conservative than most. I have a quarterly tax payment that's due on the edge of my desk that raises my blood pressure every time I walk into the room.

You own a Single owner LLC?

 

[volinbham]

can't read the article - evasion is breaking the law - are they saying they are violating tax law or using the tax laws to their advantage.

have seen too many people in this forum conflate the two.

 

[Septic]

You own a Single owner LLC?

Single owner of an S corp.

 

[NEO]

Single owner of an S corp.

I always form as LLC but tax as S.

No minutes and all that crap.

Do your parents know you are evading payroll taxes though? You should be ashamed.

 

[NEO]

The class warfare schtick is so effing tiresome. As you know, income isn't he problem - it's the frivolous spending. But in the run up, the K street narrative shifts to people not paying their fair share as the gambit to create the us vs them division. The fat cats pork barreling their way through budget reconciliations must be laughing there asses of at us.

This all day!!!

 

[0nelilreb]

You're the type who would feel guilty wearing a white t-shirt

Somehow … I don’t think so .

 

[Septic]

I always form as LLC but tax as S.

No minutes and all that crap.

Do your parents know you are evading payroll taxes though? You should be ashamed.

Ask me if I feel bad for taking a hair under six figures for a forgiven PPP loan that isn't taxable.

 

[McDad]

Even Septic?

Hell, I can almost promise you that I'm more fiscally conservative than most. I have a quarterly tax payment that's due on the edge of my desk that raises my blood pressure every time I walk into the room.

I make mine monthly...but same.

 

[Septic]

We just handed billions of dollars of weapons paid for by US citizens over to a terrorist group and you want us to give them more money.

Why? So we can buy even more weapons terrorist can use to kill us and other innocent people with?

A bit of an oversimplification but yes, leaving all of that sh*t there keeps the war machine manufacturers flush with new contracts.

 

[allvol123]

Even Septic?

Hell, I can almost promise you that I'm more fiscally conservative than most. I have a quarterly tax payment that's due on the edge of my desk that raises my blood pressure every time I walk into the room.

I cuss my most on those 4 days.

 

[Septic]

I make mine monthly...but same.

Yeah, my quarterly's are on top of the ordinary payroll taxes I also eat. Oh and since my fiscal year ends on 9/30 - the IRS thugs estimate my 10/1-12/31 revenue and tax it at the highest possible rate and send me a bill for that. They keep in in some sort of bullsh*t escrow account that bobs around in their coffers year after year.

 

[DEFENDTHISHOUSE]

The top 1 percent are evading $163 billion a year in taxes, the Treasury finds.

Sounds good. I wish more could.

 

[StarRaider]

can't read the article - evasion is breaking the law - are they saying they are violating tax law or using the tax laws to their advantage.

have seen too many people in this forum conflate the two.

Says evasion as in illegal (vs. legal avoidance).