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JP1119 · 36-40, M
I would hope that both D and R care about tax revenue, although R’s are infamous for wanting the super wealthy to have much lower taxes.
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JP1119 · 36-40, M
@Slade Not true. I read about a study where they surveyed the top 50 richest families in the US. I thought the results would be about even because I thought for every David Koch there was a Ted Turner. I don’t remember the exact breakdown, but I think it was 34 Republican families, eight Democratic, and eight families that were split between Democrats and Republicans. I remember thinking there were more Republican families than I expected and that the Democratic families and split families were equal in number or very close to it. Apparently when you’re really rich you favor the party that cuts taxes for the really rich. Go figure.
checkoutanytime · M
@JP1119 how much does $15 per hr - 22% vrs 12 % taxed benefit the part-time workers that are school kids or semi-retired, while the middle class gets pillaged?
ElwoodBlues · M
Both parties, because that's what it takes to pass the Senate.
If you are a tax cheat, more IRS funding is bad for you. If you pay your fair share, more IRS funding is good for you.
Here's what the non-partisan Congressional Budget Office has to say:
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[b]How CBO Estimates the Effect on Revenues of Increased IRS Funding
[/b]
CBO’s estimate of revenues is based on the IRS’s projected returns on investment (ROIs) for spending on new enforcement initiatives. The IRS estimates those ROIs by calculating the expected revenues that would be raised from taxes, interest, and penalties as a result of the new initiatives and dividing them by their additional cost. (The agency has provided ROIs over the past five years as part of its budget justification.) The IRS’s ROIs ramp up over three years as staff become trained and fully productive, arrive at the peak level, and then stay there. In recent years, peak ROIs have ranged from 5 to 9. That is, a $1 increase in spending on the IRS’s enforcement activities results in $5 to $9 of increased revenues.
[sep][sep][sep]
[b]TL;DR:[/b] Every additional dollar of IRS funding collects $5 to $9 from tax cheats. Getting the cheats to pay their fair share means more taxes collected without raising rates! This benefits every citizen.
If you are a tax cheat, more IRS funding is bad for you. If you pay your fair share, more IRS funding is good for you.
Here's what the non-partisan Congressional Budget Office has to say:
[sep][sep][sep]
[b]How CBO Estimates the Effect on Revenues of Increased IRS Funding
[/b]
CBO’s estimate of revenues is based on the IRS’s projected returns on investment (ROIs) for spending on new enforcement initiatives. The IRS estimates those ROIs by calculating the expected revenues that would be raised from taxes, interest, and penalties as a result of the new initiatives and dividing them by their additional cost. (The agency has provided ROIs over the past five years as part of its budget justification.) The IRS’s ROIs ramp up over three years as staff become trained and fully productive, arrive at the peak level, and then stay there. In recent years, peak ROIs have ranged from 5 to 9. That is, a $1 increase in spending on the IRS’s enforcement activities results in $5 to $9 of increased revenues.
[sep][sep][sep]
[b]TL;DR:[/b] Every additional dollar of IRS funding collects $5 to $9 from tax cheats. Getting the cheats to pay their fair share means more taxes collected without raising rates! This benefits every citizen.
ElwoodBlues · M
@checkoutanytime Tyranny? What tyranny??
In the current 50/50 Senate, democratic senators represent 41,500,000 more people than republican senators. It's a clear cut case of majority rule, LOL!!!
In the current 50/50 Senate, democratic senators represent 41,500,000 more people than republican senators. It's a clear cut case of majority rule, LOL!!!
checkoutanytime · M
@ElwoodBlues gas man blues, you know the tune. The more gas costs, the more everything costs, its not rocket science what Brandons' polocie's have done to the country.
ElwoodBlues · M
AbbySvenz · F
“$80 billion in funding would allow the IRS to incrementally hire nearly 87,000 employees by the year 2031. Most of those hires would be replacements for workers retiring from existing positions, including not only IRS enforcement agents, but also customer service and technology specialists. According to the Treasury Department, audit rates for those earning less than $400,000 in actual income will not rise. “
justanothername · 51-55, M
Both Republican and Democratic senators care about tax revenue when they are in office.
Everyone pays tax which the IRS collects.
Obviously lots of people from senators to businesses people to movie stars do their best to evade tax collection but eventually the IRS catches most of them out.
Some people are lucky enough to have good accountants who are able to work out ways to minimize their tax bills, and yes, there are plenty of ways to do that.
Everyone pays tax which the IRS collects.
Obviously lots of people from senators to businesses people to movie stars do their best to evade tax collection but eventually the IRS catches most of them out.
Some people are lucky enough to have good accountants who are able to work out ways to minimize their tax bills, and yes, there are plenty of ways to do that.
checkoutanytime · M
@justanothername democrats dont pay taxes, they collect welfare/tax contributions, stop the Lies!
justanothername · 51-55, M
@checkoutanytime Democrats pay tax like everyone else. Any Democrat who works a regular job and who receives a regular pay check will have various taxes taken out of their pay check prior to it going into their bank. Just the same as garden variety Republicans.
checkoutanytime · M
@justanothername food stamps for part -time workers, does not = paying taxes. 😑 👎
Graylight · 51-55, F
Internal Revenue Service: Formed, July 1, 1862 by Republican president, A. Lincoln.
It doesn't matter - once again, so much conservative bullsh*t.
[i]The Inflation Reduction Act, a landmark climate, health care and tax package that passed the Senate on Sunday and is expected to head to Biden’s desk after the House approves it on Friday, includes roughly $78 billion for the IRS to be phased in over 10 years. A Treasury Department report from May 2021 estimated that such an investment would enable the agency to hire roughly 87,000 employees by 2031. But most of those hires would not be Internal Revenue agents, and wouldn’t be new positions.
Time[/i]
It doesn't matter - once again, so much conservative bullsh*t.
[i]The Inflation Reduction Act, a landmark climate, health care and tax package that passed the Senate on Sunday and is expected to head to Biden’s desk after the House approves it on Friday, includes roughly $78 billion for the IRS to be phased in over 10 years. A Treasury Department report from May 2021 estimated that such an investment would enable the agency to hire roughly 87,000 employees by 2031. But most of those hires would not be Internal Revenue agents, and wouldn’t be new positions.
Time[/i]
checkoutanytime · M
@Graylight its initial purpose was to rangle up the unruly southern democrats that were for slavery, this ridiculous act is about democrats controlling modeen fiscal slavery.
justanothername · 51-55, M
I do know that the fat orange knuckle dragger has an aversion to paying tax. Maybe you should talk to him about that.
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checkoutanytime · M
@Stereoguy Why should we pay them anything? They have our tax dollars sparking a global conflict. This is a republic, not a Kingdom.
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checkoutanytime · M
@Stereoguy war is why we are taxed. Without conflict our nation wouldnt be riddled with all these socialists disease, that want U.S.'A. to return to a land governed by a "Kingdom" = taxes= Forced Democrat polocies, unapproved by the nations senate, as to be...