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GF, and myself are more than a bit pissed about that one.
Also, and I'm going to have to research this when I get home,
Apparently he's making it more difficult for us independent contractors.
He wants everyone to be someone's employee.
Fuck that.
I want the freedom to build for who I want to, when I want to, and for whatever rate I want charge.
But then again, I guess he'll be putting a value on my shop, and the rest of my equipment, trucks, etc... as what he's planning on being considered as "wealth".
We can't get this cabal of socialists evicted soon enough.
I haven't read anything about the Contractor situation. That seems a little messy with state laws etc. Independent contractors are in in every sector.
The bulk of this article is behind a damn paywall.
But this is the headline I saw...
https://townhall.com/columnists/gabriellahoffman/2024/03/11/kiss-indepe…
The part I don't get is that if making only 50k a year sucks work harder and make more. If the rich have it made, become rich. The caste system no longer exists. Nobody is keeping any secrets as to where money comes from.
The Shop
Luxon 4-Post Bar Mounts
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DeCal Works Huge Plastic Inventory of UFO and Polisport kits.
It’s long overdue that we throw these fucks out on their ass. Fuck the whole government. Fuck Joe Biden. Nooses for them all is the only way out.
Are the wealthy paying a larger and larger share of federal taxes? Yes
Is our tax system more progressive as time goes by? Yes
Why do you think they should pay more?
This will probably be ignored. It's just to inconvenient to Democrat lies.
What in the world are you talking about? Thats shifting the goal posts big time. I never said you shouldn’t work harder to make more money. All I’ve ever said in this thread is that millionaires should not have an effective tax rate lower than the middle class Americans. That’s it. That’s all. Nothing else. You keep trying to spin it like well people should work harder or this or that. Not even relevant to what I’m saying even remotely. Straw man and shifting the goal posts is all that is. If you have an argument for why millionaires should have a lower effective tax rate than the middle class, let’s hear it.
Taxes...
"Pentagon to give Ukraine $300 million in weapons even as it lacks funds to replenish US stockpile"
It’s high time we worried more about our country than others. Especially when it comes to weaponry.
But "The Big Guy" needs his cut...
Sorry pal, misunderstood your context. Thought it was all about class envy.
Consumption/Value added tax.
Maybe around 14%
No tax on food or medicine
New goods and services only
No tax on used goods
Eliminate income and property tax
Eliminate the IRS
Everybody pays the same rate. The more you consume, the more you pay.
Sign me up.
You’re one of them .
Would corporations pay or just individuals?
We have a value added tax here in Australia, it is 10% on all goods but that does not stop them from adding, fuel excise or tobacco excises etc etc, we are getting taxed on a tax. Watch out what you you wish for because once it is in it will be impossible to not only get out they will just add excises to whatever they want.
It’s actually 23%.
https://fairtax.org/about/how-fairtax-works
🤣😂🤣😂🤣
History dictates taxes evolve with time like everything else. In this countries history income tax is relatively new yet always controversial, I believe once it was considered unconstitutional. We will see in time income tax abolished with a VAT or something very similar replacing it. With taxes being used more and more as a way to control our behaviors as much as raising revenue a type of VAT seems to make sense to the powers that be. In a way licensing, fees, and permits are a form of VAT?
Pit Row
I'd prefer a balanced budget amendment before entertaining the thought that any tax change is going to make a significant difference.
VAT taxes would eliminate a little more of the black market economy potentially.
Unless you know a guy that can find things that "fell off a truck" 😁😁😁
If I were the “decision maker”, I would assume corporations would consume a lot of goods and services, so they would pay taxes on those things that they buy to produce their widgets. Of course, they would pass those costs along to the consumer, just like they pass their corporate taxes on to consumers currently.
WASHINGTON – Some of America’s marquee corporations with billions in profits each—General Electric, General Motors, Meta (owner of Facebook), Tesla and T-Mobile—paid little in federal income taxes last year and in some cases even got big refunds, according to a new analysis by Americans for Tax Fairness (ATF). Together the five companies earned over $70 billion in profits yet paid an effective average tax rate of just 6.9%, even as several of them provided wealthy shareholders with stock buybacks. The statutory corporate tax rate is 21%; in a recent year, a typical American family paid 13.6%.
General Electric earned nearly $7 billion in 2023, yet instead of paying any federal income tax on those profits they got a refund of $423 million. Of the four firms that paid any taxes, Meta paid the highest rate at 11.5%, but that was just barely more than half the statutory rate. The two automakers, GM and Tesla, paid only 4.1% and 1.5%, respectively. T-Mobile paid a paltry 0.4% in federal taxes.
While T-Mobile failed to pay practically anything in federal income taxes last year, it still managed to spend plenty of money on stock buybacks in 2023, repurchasing over $13 billion of its own shares to benefit rich shareholders. Stock buybacks increase the value of shares remaining in investor hands. It’s a tax-free gift to these shareholders, who are overwhelmingly wealthy.
Meta spent four times more on buybacks—nearly $20 billion worth—than it paid in taxes. GM’s $11 billion in share repurchases was more than 40 times as much as it paid in taxes.
Yet DC is the bottom of the barrel to live in.
Americans for Tax Fairness? Should be Americans for Free Shit. I want what you have. Gimme.
Corporations should pay ZERO income tax.
Remember when Ross Perot wanted to get rid of lobbyists ( professional bribers )? Yea, that didn't get to far...🥴
Given the encyclopedia's worth of rules for how corporations pay taxes and how they have to cypher them, let's not anyone of us assume we can know how their taxes are fair or unfair. How corporations pay taxes is incalculable without a SWAT team of accountants and lawyers. What we can know though is without these "greedy" or "unfair" corporations, their thousands upon thousands of employees would not be paying income or SSI tax, their share holders would not be taxed on dividends or capitol gains, the local communities they are located in would not have additional property taxes for schools and infrastructure, none of their suppliers would pay income tax, on and on. A corporation is a cash cow to most communities. Anybody who thinks corporations do not do their share should go to a community and observe where one pulled out and shuttered the factories, Buffalo, Detroit, Allentown, and such. I'm know there were people in Buffalo that at one time preached the bullshit that the steel plants were parasitic, that the steel plants didn't do "their share". Well the naysayers got their wish the steel plants left, and now that town would sacrifice all their first born to get them back.
I’m always a bit surprised when people view corporations as ‘benevolent masters’.
Take Walmart as an example. Do you really believe that if they didn’t exist that everyone who they employ would be out of work? Not likely. Instead they would probably be employed by the tens of thousands of small businesses who wouldn’t have been pushed out by Walmart’s predatory tactics and there would be thousands more small business owners building at least a modicum of wealth.
Well said.
Hard to do that these days with the increase in wage, being taxed on heavily as a small business owner, so on so forth. Truth is yes, we need many many more small businesses. Problem, they are making it harder for them to succeed. Covid wiped out so many of those small businesses it wasn’t funny.
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