A Better Way: Tax Reform (Individual)

[yiostheoy]

What's particularly ironic about all this is that Republicans are by far the biggest offenders when it comes to inserting these "special provisions" in the tax code which has run it up to 70,000 pages.

Tax expenditures are a way to increase spending without the rubes catching on. That's why it's a GOP favorite.

But I am glad to finally see some sanity from the GOP in this plan.

No sh!t Dick Tracy.

 

[yiostheoy]

For all those pseudocons who denied and denied and denied tax expenditures don't come out of the pockets of other people:

Numerous other exemptions, deductions, and credits for individuals riddle the tax code, making it less fair for those who cannot take advantage of such provisions and more complicated for everyone. These special-interest provisions require higher tax rates to compensate for the lost revenue, thus raising taxes on others and hurting the economy by reducing the incentives to work, save, and invest.

As I've told you tards literally hundreds of times, your deductions are no different than food stamps. They are paid for by taxpayers.

And you aren't even benefiting from them as you have been led to believe. You are being robbed, and defending your own robbery!

If you think about this logically, the only "deductions" which make sense are deductions for COGS.

To COGS I would add a transportation deduction, a food deduction, a housing deduction that applies both to rentals as well as mortgages, keep the state tax deduction, a true medical deduction for insurance and deductibles (which Reagan got rid of), and a clothing allowance.

Teachers would get a classroom expense deduction.

These are all costs of the production of income.

The accounting principle of matching incomes and expenses is classic and goes back to Luca Pacioli the Catholic Priest in Florence Italy in 1500 who first invented accounting.

 

[g5000]

For all those pseudocons who denied and denied and denied tax expenditures don't come out of the pockets of other people:

Numerous other exemptions, deductions, and credits for individuals riddle the tax code, making it less fair for those who cannot take advantage of such provisions and more complicated for everyone. These special-interest provisions require higher tax rates to compensate for the lost revenue, thus raising taxes on others and hurting the economy by reducing the incentives to work, save, and invest.

As I've told you tards literally hundreds of times, your deductions are no different than food stamps. They are paid for by taxpayers.

And you aren't even benefiting from them as you have been led to believe. You are being robbed, and defending your own robbery!

If you think about this logically, the only "deductions" which make sense are deductions for COGS.

To COGS I would add a transportation deduction, a food deduction, a housing deduction that applies both to rentals as well as mortgages, keep the state tax deduction, a true medical deduction for insurance and deductibles (which Reagan got rid of), and a clothing allowance.

These are all costs of the production of income.

The accounting principle of matching incomes and expenses is classic and goes back to Luca Pacioli the Catholic Priest in Florence Italy in 1500.

You will enjoy the corporate tax reform topic. This one is about the individual tax reform.

 

[yiostheoy]

The moral of this story is "don't be such a stupid sh!t".

You cannot believe what Ryan is saying unless he says it without moving his lips.

 

[yiostheoy]

For all those pseudocons who denied and denied and denied tax expenditures don't come out of the pockets of other people:

Numerous other exemptions, deductions, and credits for individuals riddle the tax code, making it less fair for those who cannot take advantage of such provisions and more complicated for everyone. These special-interest provisions require higher tax rates to compensate for the lost revenue, thus raising taxes on others and hurting the economy by reducing the incentives to work, save, and invest.

As I've told you tards literally hundreds of times, your deductions are no different than food stamps. They are paid for by taxpayers.

And you aren't even benefiting from them as you have been led to believe. You are being robbed, and defending your own robbery!

If you think about this logically, the only "deductions" which make sense are deductions for COGS.

To COGS I would add a transportation deduction, a food deduction, a housing deduction that applies both to rentals as well as mortgages, keep the state tax deduction, a true medical deduction for insurance and deductibles (which Reagan got rid of), and a clothing allowance.

These are all costs of the production of income.

The accounting principle of matching incomes and expenses is classic and goes back to Luca Pacioli the Catholic Priest in Florence Italy in 1500.

You will enjoy the corporate tax reform topic. This one is about the individual tax reform.

I have been to endless tax seminars on the corporate tax proposals already.

 

[yiostheoy]

For all those pseudocons who denied and denied and denied tax expenditures don't come out of the pockets of other people:

Numerous other exemptions, deductions, and credits for individuals riddle the tax code, making it less fair for those who cannot take advantage of such provisions and more complicated for everyone. These special-interest provisions require higher tax rates to compensate for the lost revenue, thus raising taxes on others and hurting the economy by reducing the incentives to work, save, and invest.

As I've told you tards literally hundreds of times, your deductions are no different than food stamps. They are paid for by taxpayers.

And you aren't even benefiting from them as you have been led to believe. You are being robbed, and defending your own robbery!

If you think about this logically, the only "deductions" which make sense are deductions for COGS.

To COGS I would add a transportation deduction, a food deduction, a housing deduction that applies both to rentals as well as mortgages, keep the state tax deduction, a true medical deduction for insurance and deductibles (which Reagan got rid of), and a clothing allowance.

These are all costs of the production of income.

The accounting principle of matching incomes and expenses is classic and goes back to Luca Pacioli the Catholic Priest in Florence Italy in 1500.

You will enjoy the corporate tax reform topic. This one is about the individual tax reform.

You seem to be forgetting that people in business for themselves ALSO HAVE COGS DEDUCTIONS/EXPENSES.

Not just corporations.

A corporation is simply a form of doing business.

 

[yiostheoy]

Individual

Association

Partnership

LLP

LLC

Corporation

Trust

Estate

RIC

REIT

Cooperative

 

[yiostheoy]

Go back to school.

 

[danielpalos]

end the income tax on Labor.

 

[g5000]

For all those pseudocons who denied and denied and denied tax expenditures don't come out of the pockets of other people:

Numerous other exemptions, deductions, and credits for individuals riddle the tax code, making it less fair for those who cannot take advantage of such provisions and more complicated for everyone. These special-interest provisions require higher tax rates to compensate for the lost revenue, thus raising taxes on others and hurting the economy by reducing the incentives to work, save, and invest.

As I've told you tards literally hundreds of times, your deductions are no different than food stamps. They are paid for by taxpayers.

And you aren't even benefiting from them as you have been led to believe. You are being robbed, and defending your own robbery!

If you think about this logically, the only "deductions" which make sense are deductions for COGS.

To COGS I would add a transportation deduction, a food deduction, a housing deduction that applies both to rentals as well as mortgages, keep the state tax deduction, a true medical deduction for insurance and deductibles (which Reagan got rid of), and a clothing allowance.

These are all costs of the production of income.

The accounting principle of matching incomes and expenses is classic and goes back to Luca Pacioli the Catholic Priest in Florence Italy in 1500.

You will enjoy the corporate tax reform topic. This one is about the individual tax reform.

You seem to be forgetting that people in business for themselves ALSO HAVE COGS DEDUCTIONS/EXPENSES.

Not just corporations.

A corporation is simply a form of doing business.

That will all be covered in the corporate tax reform topic. Take your meds.

 

[g5000]

end the income tax on Labor.

Ideally, we would tax consumption instead of labor.

The Republican corporate tax reform attempts to move in that direction.

 

[yiostheoy]

Go back to school.

 

[yiostheoy]

end the income tax on Labor.

Ideally, we would tax consumption instead of labor.

The Republican corporate tax reform attempts to move in that direction.

I thought you weren't going to talk about corporations here ???

 

[yiostheoy]

There is only one relevant issue regarding corporate tax reform.

To wit:

Is Ryan going to fokk up corporate tax reform like he fokked up Trumpcare ??

 

[yiostheoy]

The moral of this story is now:

"Don't be a stupid d!ck either."

 

[danielpalos]

end the income tax on Labor.

Ideally, we would tax consumption instead of labor.

The Republican corporate tax reform attempts to move in that direction.

I meant income on actual labor, not just any income.

 

[g5000]

end the income tax on Labor.

Ideally, we would tax consumption instead of labor.

The Republican corporate tax reform attempts to move in that direction.

I meant income on actual labor, not just any income.

That's one of the reasons I lean in favor of replacing the income tax with the Fair Tax.

 

[FA_Q2]

end the income tax on Labor.

Ideally, we would tax consumption instead of labor.

The Republican corporate tax reform attempts to move in that direction.

Not sure if I am completely sold on the idea of moving to a consumption tax. I prefer taxing all sources of income in the same manner rather than the current practice of targeting labor and giving the others a benefit. The multiplicative power of money gives it a distinct advantage over labor in the first place and taxing consumption will tend to shift power up as our current tax system does.

 

[yiostheoy]

end the income tax on Labor.

Ideally, we would tax consumption instead of labor.

The Republican corporate tax reform attempts to move in that direction.

Not sure if I am completely sold on the idea of moving to a consumption tax. I prefer taxing all sources of income in the same manner rather than the current practice of targeting labor and giving the others a benefit. The multiplicative power of money gives it a distinct advantage over labor in the first place and taxing consumption will tend to shift power up as our current tax system does.

It's NOT a consumption tax.

g5000 has got you all turned-on over nothing.

It is being analogized to a consumption tax because there is no corporate deduction for foreign-goods' COGS.

So g5000 is getting all confused.

The individual tax does not even resemble a consumption tax in any way.

It simply has lower rates and a few less deductions and huge tax cuts for the rich like Trump himself regarding the individual alt min tax repeal.

You need to go back to school with g5000 too.

This is what happens when morons who know nothing about tax talk about tax.

 

[yiostheoy]

end the income tax on Labor.

Ideally, we would tax consumption instead of labor.

The Republican corporate tax reform attempts to move in that direction.

I meant income on actual labor, not just any income.

"Income" is any accretion to wealth.

No reason to limit the tax on it to labor only -- unless you are a trust baby with special needs.