“Inflation Reduction” Act

[CJD]

(08-18-2022, 09:56 AM)HarleyDog Wrote: You think your winning? Wait till we get the final bill. Rich people aren't gonna pay for this and neither are corporations. I mean, on paper it may seem like they may, but in reality your going to pay more. They're not rich for no reason. Not sure why many people fail to see the big picture. Also, Hollo is correct when he mentions both parties beholding to the super wealthy. As for the IRS agents, they will take more from the middle class than the rich. Rich people take care of the politicians and line their pockets with cash. How else would they be making 10-20 times more than their salary? They're not going to bite the hands that feed them. 

So is it your belief that we shouldn't even bother trying to properly collect taxes from rich people and corporations because they're just, by their very nature, way smarter than everyone else?

[CKwi88]

Sure glad I got my Hyundai EV last year. While good in the long run, EV sales are going to take quite the hit for the rest of this year.

[*pally*]

This bill, with the $2000 cap on Medicare prescriptions will save me $5,000-$7,000 per year in medication costs (post insurance share). That is real money back in my pocket.

[HarleyDog]

(08-18-2022, 02:27 PM)Crazyjdawg Wrote: So is it your belief that we shouldn't even bother trying to properly collect taxes from rich people and corporations because they're just, by their very nature, way smarter than everyone else?

Where did I say this? I’d like for them to figure out a way I don’t have to pay their taxes. That’s what I want.

[basballguy]

(08-18-2022, 03:34 AM)hollodero Wrote: True, not really talked about. Which just is more proof that the democrats are not behind the Mar-a-Lago raid. If they were, they sure would have picked another time and not the one week where it overshadows Biden's legislative win.

I for one am particularly fond of the fighting climate change part of it, the biggest issue of them all possibly. I also agree with a stock buyback fee and with better tax law enforcement, and a corporate tax rate of 15% seems fair and square to me as well.

I like this piece of legislature, I wonder who doesn't and why.

The only problem I have with it is it’s called the inflation reduction act.

[basballguy]

(08-18-2022, 09:56 AM)HarleyDog Wrote: You think your winning? Wait till we get the final bill. Rich people aren't gonna pay for this and neither are corporations. I mean, on paper it may seem like they may, but in reality your going to pay more. They're not rich for no reason. Not sure why many people fail to see the big picture. Also, Hollo is correct when he mentions both parties beholding to the super wealthy. As for the IRS agents, they will take more from the middle class than the rich. Rich people take care of the politicians and line their pockets with cash. How else would they be making 10-20 times more than their salary? They're not going to bite the hands that feed them. 

Give this man an internet award.

Sure the “rich” owe a lot of back taxes….but so do middle class and poor people….who do you think these agents are gonna go after? Low hanging fruit or rich people with teams of lawyers?

I wholeheartedly support tax enforcement but I don’t think people really understand the impact this will have on people struggling to get by. there are so many people out there that skirt taxes by changing their deductions and they’ll be the ones that end up suffering.

[Belsnickel]

(08-18-2022, 08:14 PM)basballguy Wrote: Give this man an internet award.

Sure the “rich” owe a lot of back taxes….but so do middle class and poor people….who do you think these agents are gonna go after? Low hanging fruit or rich people with teams of lawyers?

I wholeheartedly support tax enforcement but I don’t think people really understand the impact this will have on people struggling to get by. there are so many people out there that skirt taxes by changing their deductions and they’ll be the ones that end up suffering.

The IRS isn't going to go after the "low hanging fruit." Doing so doesn't justify the existence of the agents as it would cost them more to go after the amounts owed. They will focus on the egregious ones. That has always been the way they do things.

[basballguy]

(08-18-2022, 08:22 PM)Belsnickel Wrote: The IRS isn't going to go after the "low hanging fruit." Doing so doesn't justify the existence of the agents as it would cost them more to go after the amounts owed. They will focus on the egregious ones. That has always been the way they do things.

Oh I didn’t realize you worked for the IRS and had intimate knowledge of their plans. They collect mostly from middle to lower class today. If you think they’re suddenly going to change then you’re a fool.

[Belsnickel]

(08-18-2022, 08:25 PM)basballguy Wrote: Oh I didn’t realize you worked for the IRS and had intimate knowledge of their plans. They collect mostly from middle to lower class today. If you think they’re suddenly going to change then you’re a fool.

Nah, I've just worked with them a lot, had job offers from them, and have former colleagues working for them. After all, before my venture in the government sector I did begin my career as a tax accountant. I do actually know something about their methodology in enforcement. If the overall calculated tax bill doesn't reach a certain threshold, they aren't even looking at it for potential errors. It's not worth the effort. And that level puts everyone below upper-middle class out of the running. The only way someone in the lower or middle income brackets would raise red flags is if they paid nothing or if they had a very complicated return (which is not likely for low to middle income earners).

[hollodero]

(08-18-2022, 08:10 PM)basballguy Wrote: The only problem I have with it is it’s called the inflation reduction act.

If the name is your only problem, you should be enthusiastic. Even if it is a bit of a marketing gag, who cares.

[basballguy]

(08-19-2022, 12:18 AM)hollodero Wrote: If the name is your only problem, you should be enthusiastic. Even if it is a bit of a marketing gag, who cares.

I think it's a great bill.  :)

It just does nothing for inflation.

[basballguy]

(08-18-2022, 08:50 PM)Belsnickel Wrote: Nah, I've just worked with them a lot, had job offers from them, and have former colleagues working for them. After all, before my venture in the government sector I did begin my career as a tax accountant. I do actually know something about their methodology in enforcement. If the overall calculated tax bill doesn't reach a certain threshold, they aren't even looking at it for potential errors. It's not worth the effort. And that level puts everyone below upper-middle class out of the running. The only way someone in the lower or middle income brackets would raise red flags is if they paid nothing or if they had a very complicated return (which is not likely for low to middle income earners).

You have a serious flaw in how you post on this forum.

You post as if your point of view and knowledge is always right...which is a shame.  There's no objectivity in how you talk.  Your anecdotal evidence is just that.  

[Forever Spinning Vinyl]

(08-19-2022, 02:08 AM)basballguy Wrote: You have a serious flaw in how you post on this forum.

You post as if your point of view and knowledge is always right...which is a shame.  There's no objectivity in how you talk.  Your anecdotal evidence is just that.  

Well then, I guess just keep worrying about the man coming for you if that makes you more comfortable. Fear is like the 5th basic food group with Karenservatives. If you all are not afraid of something current, you're worried about what's going to terrify you next. That's what you all need Fox for more than everything else. Their job has nothing to do with news or journalism and everything to do with pissing off old white people while peddling fear.

[Belsnickel]

(08-19-2022, 02:08 AM)basballguy Wrote: You have a serious flaw in how you post on this forum.

You post as if your point of view and knowledge is always right...which is a shame.  There's no objectivity in how you talk.  Your anecdotal evidence is just that.  

When I speak about things in a subjective nature I acknowledge that. I state when things are my opinion and when things are objective. This is one of those objective things. Sure, my evidence is anecdotal, and so is yours. I don't have statistics on this topic. Do you? I have discussions with IRS agents on their methodology for reviews and audits as well as being involved in audit activities on both sides to understand the techniques and methods used. I have had agents explaining to me their agency SOPs. Short of actually having the document to provide to you, I don't know how it could be more objective.

You're complaining about me expressing my knowledge on this topic as being correct when this is literally something I have been doing for well over a decade. If you were going to complain about me blowing smoke you could've chosen to do it on a topic where it is less my specialty and more my opinion.

[NATI BENGALS]

(08-19-2022, 07:53 AM)Forever Spinning Vinyl Wrote: Well then, I guess just keep worrying about the man coming for you if that makes you more comfortable. Fear is like the 5th basic food group with Karenservatives. If you all are not afraid of something current, you're worried about what's going to terrify you next. That's what you all need Fox for more than everything else. Their job has nothing to do with news or journalism and everything to do with pissing off old white people while peddling fear.

Uh. You better wake the f up bro. These 50 million armed IRS agents ransacking the homes of us poor and middle class folks and probably holding us at gunpoint making us pay more taxes is probably the biggest story since Obama’s body bags.

[CJD]

(08-18-2022, 07:25 PM)HarleyDog Wrote: Where did I say this? I’d like for them to figure out a way I don’t have to pay their taxes. That’s what I want.

Well you didn't directly say it, that's why I was asking a follow up question about your beliefs.

Because, as far as I can tell, this bill is potentially offering what you want. A way to tax the rich properly that should not cost the middle class anything.

But you jumped straight to "Rich people aren't gonna pay for this and neither are corporations. I mean, on paper it may seem like they may, but in reality your going to pay more. They're not rich for no reason."

So it seems to me that any suggestion or method of taxing the rich would likely be met with the same cynicism and defeatist attitude which would ultimately lead to the belief that you should just not try anything.

Maybe you don't have the explicit belief to not bother trying to tax rich people, but it sounds like that would ultimately be the result of your beliefs that the rich are just too slippery to be taxed and the middle class will always be left holding the check for them.

[*Nately120*]

How could any conservative find fault with these new IRS agents ignoring the wealthy? Those people are job creators, you ingrates.

[HarleyDog]

(08-19-2022, 10:04 AM)Crazyjdawg Wrote: Well you didn't directly say it, that's why I was asking a follow up question about your beliefs.

Because, as far as I can tell, this bill is potentially offering what you want. A way to tax the rich properly that should not cost the middle class anything.

But you jumped straight to "Rich people aren't gonna pay for this and neither are corporations. I mean, on paper it may seem like they may, but in reality your going to pay more. They're not rich for no reason."

So it seems to me that any suggestion or method of taxing the rich would likely be met with the same cynicism and defeatist attitude which would ultimately lead to the belief that you should just not try anything.

Maybe you don't have the explicit belief to not bother trying to tax rich people, but it sounds like that would ultimately be the result of your beliefs that the rich are just too slippery to be taxed and the middle class will always be left holding the check for them.

In a winning or losing scenario, taxing the rich is a losing scenario for the middle class. My point is simple. The more they pay, the more you pay, therefor, they are taxing you in the long run. Politicians know this and still lick your ears with empty promises of the rich paying their fair share. It's never going to happen. I'm not saying the rich shouldn't pay, but I have zero confidence the government can do it without negatively effecting the middle class. 

[CJD]

(08-19-2022, 12:13 PM)HarleyDog Wrote: In a winning or losing scenario, taxing the rich is a losing scenario for the middle class. My point is simple. The more they pay, the more you pay, therefor, they are taxing you in the long run. Politicians know this and still lick your ears with empty promises of the rich paying their fair share. It's never going to happen. I'm not saying the rich shouldn't pay, but I have zero confidence the government can do it without negatively effecting the middle class. 

Sounds like you're about ready to eat the rich :)

[*Nately120*]

(08-19-2022, 12:16 PM)Crazyjdawg Wrote: Sounds like you're about ready to eat the rich :)

Hey, if you aren't so rich people are paralyzed with fear at the notion of taxing you fairly...well, you shoulda worked harder and spent less money on avocado toast.