Isn't it just great that in a time of record (and as always horrifically understated for political reasons) inflation, that we'd INCREASE taxes, and lower the threshold at which people pay more?
It's because the middle class is the only people paying income tax. The IRS has always been a gun aimed straight at the head of the American economy, especially those who contribute to it. The rich can afford the lawyers, accountants, etc. to use the loopholes the ultra-rich put in for themselves so they'd never have to pay any. (You *can* do this yourself, and it's not horribly difficult, but it does take time and a year or two to really get acclimated to a different way of doing things. With practice, you can "tune" the amount of "earned income" you make to maximize the subsidy the government gives you. All completely legally. Worth it, but time consuming.)
Too bad the WWII era voters were already so indoctrinated into socialism (thank you unconstitutional spending on government schools!) that they voted that crapola amendment in!
The IRS could be easily crippled but the people are too weak and cowardly to do so. Send in correct, but half illegible handwritten returns. For a bonus omit a deduction and claim it later on an amended return.
It'd keep 87000+ agents busy if people started doing that.
Thanks, Joe.
ReplyDeleteIsn't it just great that in a time of record (and as always horrifically understated for political reasons) inflation, that we'd INCREASE taxes, and lower the threshold at which people pay more?
ReplyDeleteIt's because the middle class is the only people paying income tax. The IRS has always been a gun aimed straight at the head of the American economy, especially those who contribute to it. The rich can afford the lawyers, accountants, etc. to use the loopholes the ultra-rich put in for themselves so they'd never have to pay any. (You *can* do this yourself, and it's not horribly difficult, but it does take time and a year or two to really get acclimated to a different way of doing things. With practice, you can "tune" the amount of "earned income" you make to maximize the subsidy the government gives you. All completely legally. Worth it, but time consuming.)
Too bad the WWII era voters were already so indoctrinated into socialism (thank you unconstitutional spending on government schools!) that they voted that crapola amendment in!
The IRS could be easily crippled but the people are too weak and cowardly to do so. Send in correct, but half illegible handwritten returns. For a bonus omit a deduction and claim it later on an amended return.
DeleteIt'd keep 87000+ agents busy if people started doing that.
I am middle class and I use an accountant. But guess what I still pay taxes!
Delete2023 tax forms show up January of 2024....that's 14 months from now.
ReplyDelete