To Pay For Israeli Aid, GOP Wants To Make It More Expensive For You To File Your Taxes

[Toddsterpatriot]

1. Agreed, spending needs to be cut to the bone first
2. So its OK for the government to scam people, promising benefits then ripping them off? NFW.
3. The government used the SS surplus putting SS on the Budget. The government needs to pay the fuck up.

https://www.nasdaq.com/articles/how-much-money-has-congress-taken-social-security-2019-02-04

Another way to look at this is who fixes SS gets the 63m senior votes.
Who wants to fuck the seniors gets booted.

So its OK for the government to scam people, promising benefits then ripping them off?

People are living much longer. At these payroll tax levels, benefits have to be cut. Sorry.

The government used the SS surplus putting SS on the Budget.

The SS surplus bought Treasury bonds.
Those bonds are being redeemed to pay current benefits.

The government needs to pay the fuck up.

Every time the Trust Fund redeems Treasury debt, the government is paying the fuck up.

 

[kyzr]

So its OK for the government to scam people, promising benefits then ripping them off?
People are living much longer. At these payroll tax levels, benefits have to be cut. Sorry.

The government used the SS surplus putting SS on the Budget.
The SS surplus bought Treasury bonds.
Those bonds are being redeemed to pay current benefits.

The government needs to pay the fuck up.
Every time the Trust Fund redeems Treasury debt, the government is paying the fuck up.

1. Benefits don't have to be cut for retirees. The ages can be moved up for younger folks, and the cap raised for rich folks. I'm even okay not getting a COLA for a few years as a contribution. But SS needs to be saved.

2. Whatever the government did with the SS surplus it will be gone in 2033.

Press Release | Press Office | SSA

2020 Press Releases

www.ssa.gov

The OASI Trust Fund is projected to become depleted in 2033, one year sooner than last year’s estimate, with 77 percent of benefits payable at that time. The DI Trust Fund asset reserves are not projected to become depleted during the 75-year projection period.


I thought of one more "revenue generating" option.
No more "capital gains" tax break, from 39% to 20%. All investment profits should be taxable as normal income.
That should generate $100b a year.
My Transaction Tax Rate would be 0.2%, so I'm now at $150b a year for that one.
The 4% sales tax would gain about $400b a year
Removing the Capital Gains Tax break should gain another $100b a year.
So I'm up to about $650b a year in new revenue, less the fix for Medicare.

 

[Toddsterpatriot]

1. Benefits don't have to be cut for retirees. The ages can be moved up for younger folks, and the cap raised for rich folks. I'm even okay not getting a COLA for a few years as a contribution. But SS needs to be saved.

2. Whatever the government did with the SS surplus it will be gone in 2033.

Press Release | Press Office | SSA

2020 Press Releases

www.ssa.gov

The OASI Trust Fund is projected to become depleted in 2033, one year sooner than last year’s estimate, with 77 percent of benefits payable at that time. The DI Trust Fund asset reserves are not projected to become depleted during the 75-year projection period.


I thought of one more "revenue generating" option.
No more "capital gains" tax break, from 39% to 20%. All investment profits should be taxable as normal income.
That should generate $100b a year.
My Transaction Tax Rate would be 0.2%, so I'm now at $150b a year for that one.
The 4% sales tax would gain about $400b a year
Removing the Capital Gains Tax break should gain another $100b a year.
So I'm up to about $650b a year in new revenue, less the fix for Medicare.

Whatever the government did with the SS surplus it will be gone in 2033.

They bought Treasury bonds with it.
Bush tried to invest some in stocks, dems threw a hissy fit.

I thought of one more "revenue generating" option.
No more "capital gains" tax break, from 39% to 20%. All investment profits should be taxable as normal income.

You'd get a huge burst of revenue before the hike kicks in and less every year after.
By the way, short-term capital gains are already taxed as regular income.

 

[tyroneweaver]

Republicans are looking at defunding a free digital tax filing system that's under development by the IRS to instead help pay for weapons for Israel.

Republicans are looking to cut funding for the free digital tax filing system currently being developed by the Internal Revenue Service to instead offset the $14 billion emergency request for military aid for Israel’s war in Gaza.

After House Speaker Mike Johnson (R-La.) declared that Republicans insisted on cutting the budget to pay for the Israel war funding bill, the House Rules Committee released legislation on Monday that includes $14 billion in cuts to the IRS. That $14 billion will come out of the $67 billion that remains in additional IRS funding included in last year’s Inflation Reduction Act.

The boost to IRS funding in the Inflation Reduction Act sought to aid the agency’s efforts to police tax evasion by the wealthy and update and upgrade the IRS’s internal and public-facing systems and software.

In addition to targeting the free digital filing program, the GOP offsets would cut funding at the IRS for enforcement, operations support, policymaking and internal investigations. The only sections of the IRS funding spared from proposed cuts are assistance for taxpayers and modernization of internal business systems.

Tax preparation companies including TurboTax, Intuit and H&R Block have long opposed the creation of a free digital tax filing system by the IRS, spending tens of millions of dollars on lobbying efforts. The government and the companies came to an agreement in 2002 for the government to not pursue a free online filing system and, in turn, the tax preparers would offer their services free to filers who make less than $73,000 per year. That agreement is set to expire in 2025, based on an amendment issued last March.

To Pay For Israeli Aid, GOP Wants To Make It More Expensive For You To File Your Taxes​

This doesn't sound right to me! What do you think?

"want to"
but no evidence of it happening

get back to us when you can show results rather than more false prophecies from your idiot party