Strikes

[Deleted User 89]

Nike-approved

[Cascadia]

Nike-approved

Nailed it!

[ousdahl]

I dunno if I wanna make a more sincere comment like, I think I know why our nation is broke

Or just say something snarky like, we can’t launch these fuckers into space fast enough

https://www.propublica.org/article/the- ... income-tax

[Deleted User 89]

while i don’t think it’s “right” to game the system, it’s tough to blame them so long as what they were doing was legal

but, it’s a perfect example of where some money can come from to fund various federal projects, or even to just help reduce the national debt

[ousdahl]

Yeah, but who do you think made the tax evasion legal? You think all those loopholes were lobbied for by poor people?

If we ever wanna get our nation outta debt, let’s tax the folks who have way too much money, not those who don’t have enough.

[TDub]

And not spend so much money. There's a lot of fluff that gets pushed through....as evidenced by the covid relief bills.

[ousdahl]

Yea.

Im all for casting light on exactly where all that money ended up.

How many millions you think Trump Inc. made out with? How many churches that don’t pay taxes in the first place?

How many businesses you think gladly accepted the bailouts, then turned around and vilified the workers they laid off for suckling from mich’s teat?

[twocoach]

I dunno if I wanna make a more sincere comment like, I think I know why our nation is broke

Or just say something snarky like, we can’t launch these fuckers into space fast enough

https://www.propublica.org/article/the- ... income-tax

I don't have a problem with people following the tax laws if in fact they did. I have a problem with the tax laws that allow this to happen.

[Deleted User 89]

And not spend so much money. There's a lot of fluff that gets pushed through....as evidenced by the covid relief bills.

lol

how about as evidenced by our bloated military budget

[Deleted User 89]

if anyone is curious, look into how much covid relief was doled out by the department of agriculture to “farmers”, and then look into the racial disparity associated with those who received relief

[ousdahl]

Isn’t the military budget bloated largely cuz of bass ackwards budgeting policies?

Like if a platoon or whatever got a budget of xx dollars last year, they get a budget of xx dollars again this year, even if they don’t need any new gear. And if they don’t spend the xx dollars, their budget is cut for next year.

So they end up spending xx dollars just cuz, and are buying gear and stuff they don’t need to remain at that xx budget amount.

Well that, and we care more about bombing brown folks overseas than we do about caring for our own citizens at home

[TDub]

Isn’t the military budget bloated largely cuz of bass ackwards budgeting policies?

Like if a platoon or whatever got a budget of xx dollars last year, they get a budget of xx dollars again this year, even if they don’t need any new gear. And if they don’t spend the xx dollars, their budget is cut for next year.

So they end up spending xx dollars just cuz, and are buying gear and stuff they don’t need to remain at that xx budget amount.

Well that, and we care more about bombing brown folks overseas than we do about caring for our own citizens at home

Thats not just the military....happens at every level if govt. Ive worked on govt construction that added things just because they needed to spend all the allowed money to secure their grants/money for the following year

[TDub]

if anyone is curious, look into how much covid relief was doled out by the department of agriculture to “farmers”, and then look into the racial disparity associated with those who received relief

Ignoring the racial portion because its not relevant to the immediate discussion...

Yes, the subsidies need to be heavily cut. It would help more than the budget, it would also encourage farmers to use best practice to better manage their land AND encourage them to grow product that is actually needed and not just the crop that theyre getting paid to grow before ever sowing a seed

[Mjl]

Yeah, but who do you think made the tax evasion legal? You think all those loopholes were lobbied for by poor people?

If we ever wanna get our nation outta debt, let’s tax the folks who have way too much money, not those who don’t have enough.

Which loopholes?

[ousdahl]

That’s a good question.

I suppose I could better understand tax code, but for now, I’ll just generally say whatever loopholes (credits, exemptions, whatever) that allow the folks with the most money to pay the least in taxes.

[Mjl]

That’s a good question.

I suppose I could better understand tax code, but for now, I’ll just generally say whatever loopholes (credits, exemptions, whatever) that allow the folks with the most money to pay the least in taxes.

Do they?
I'm all for Biden's proposal for increased long term capital gains taxes for high income people... I think that's what you're referring to?

[zsn]

The biggest and most meaningful change to the tax code (which means it’s never going to happen) should be in how social security tax is collected. They should exempt the first $30-50k of income from the tax- the most regressive portion and raise the cap to $500k, perhaps beginning a phase-out at $250k. For purposes of social security calculations any capital gains above $100k should be treated as ordinary income, with the same caps. This way someone who is not “earning income” is still paying SS, not just working schlubs

[ousdahl]

Yeah, I could better understand this, but Biden’s proposal sounds like a step in the right direction.

The social security tax reform does too.

I’ve shared it plenty of times, but I think the best tax reform would be assessing rates on an exponential curve. Everybody pays some, and the more you earn the more you pay, simple as that.

But for Merica, pretty sure that’s regarded not as simple, but as radical socialism

[TDub]

But....thats what happens now? From 10% to 37%

[PhDhawk]

Yeah, I could better understand this, but Biden’s proposal sounds like a step in the right direction.

The social security tax reform does too.

I’ve shared it plenty of times, but I think the best tax reform would be assessing rates on an exponential curve. Everybody pays some, and the more you earn the more you pay, simple as that.

But for Merica, pretty sure that’s regarded not as simple, but as radical socialism

But that doesn't solve anything brought up on the link you posted.

The problem is the wealthy don't have income.

Your plan makes sure that kinda rich people, like actors and athletes get taxed, but it doesn't impact Bezos, Musk, and Buffett at all. They pay themselves some nominal salary like 50K a year, so they'd be pretty low on your curve.