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

Nope.
You go into debt you don’t force your boss to give you another raise. You stop spending.

If 4/5 of the Federal government ceased to exist today I bet 14 people outside of government would notice.

Incredible Post 📯

Thank you 👍
 
We disagree. We need about $2T to get a budget surplus.

And you've got less than $500 billion so far.

There are plenty of financial transactions to tax. Hundreds of $Trillions. The rate(s) can be adjusted as needed.

If you think you can raise trillions by simply taxing those transactions, you
know even less about the real world than the typical leftist.
I put up a workable solution.
See how far your Budget slashing gets in Congress.
Good discussion. Thanks for checking the math.
 
I put up a workable solution.
See how far your Budget slashing gets in Congress.
Good discussion. Thanks for checking the math.

I put up a workable solution.

You put up a tax hike. Your math was way off.

Add a 0.1%? financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains 777b/yr, see link below)
Finally, there is the impact the tax could have on the federal government’s budget. The Congressional Budget Office estimates that a financial transactions tax of 0.1% would raise $777 billion in revenue over 10 years.
 
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?
Taking it one step further, his idea for cutting the deficit will actually increase the deficit.

Proposed Cuts to IRS Enforcement Would Add $24 Billion to Deficit, CBO Finds​

 
1. You were wrong that revenue went up EVERY year.
2. Name calling? Thanks for playing, dumbass.
3. You still didn't put up a viable solution to the fiscal mess. Tax cuts aren't it.
A global pandemic caused the slight decrease in revenue, Stupid. Trump's across the board tax cuts didn't.

You are a complete imbecile.
 
You need to prove that tax revenue went up after the tax cuts. Link please.

Sure. There are thousands out there. Simply reporting the reality of what happened the revenues as a a result of the tax cuts.




www.investors.com



Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts


Critics of the Trump tax cuts said they would blow a hole in the deficit. Yet individual income taxes climbed 6% in the just-ended fiscal 2018.

www.investors.com
www.investors.com






www.wsj.com



Opinion | Federal Revenue Did Well Under the Trump Tax Cut


Democrats are touting a GAO report as evidence that corporations don’t pay up. They’re wrong.

www.wsj.com
www.wsj.com






www.politico.com



U.S. sees biggest revenue surge in 44 years despite pandemic


Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.

www.politico.com
 
Sure. There are thousands out there. Simply reporting the reality of what happened the revenues as a a result of the tax cuts

Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts

Critics of the Trump tax cuts said they would blow a hole in the deficit. Yet individual income taxes climbed 6% in the just-ended fiscal 2018.

Opinion | Federal Revenue Did Well Under the Trump Tax Cut

Democrats are touting a GAO report as evidence that corporations don’t pay up. They’re wrong.

U.S. sees biggest revenue surge in 44 years despite pandemic

Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.
OK, so lowering taxes gets more revenue, so why not put tax rates to zero?

Trump said that the tax cuts would grow the economy by 5%, didn't happen.

We have a $2T budget deficit to close. Cutting taxes again won't help.
 
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OK, so lowering taxes gets more revenue, so why not put tax rates to zero?

Trump said that the tax cuts would grow the economy by 5%, didn't happen.

We have a $2T budget deficit to close. Cutting taxes won't help.
Well, you made the false claim that Trump's tax cuts added to the debt. They didn't. As we have conclusively shown, the tax cuts actually increased revenue.
 
I put up a workable solution.

You put up a tax hike. Your math was way off.

Add a 0.1%? financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains 777b/yr, see link below)
Finally, there is the impact the tax could have on the federal government’s budget. The Congressional Budget Office estimates that a financial transactions tax of 0.1% would raise $777 billion in revenue over 10 years.
We need more revenue and less spending.
So a transaction tax of 0.2% (doubled) gets us about $150b a year, not $777. Thx.

The new 4% sales tax could get to $400b. So that's $550b a year in new revenue.

When you think that every citizen owes $102,000 in Federal borrowing, that is an insane position for the DC whores to have put us in.
 
Well, you made the false claim that Trump's tax cuts added to the debt. They didn't. As we have conclusively shown, the tax cuts actually increased revenue.
A tiny increase in revenue hardly passes for a panacea. We owe $33.7T plus interest. Cutting taxes again isn't the answer.
My point was that the Debt exploded after the tax cut. The whores should have cut spending too.
 
Hey stupid, you claimed tax cuts "grew the debt". Your numbers prove you are a lying sack of shit. Spending grew the debt, Moron. You lose again.
If cutting taxes raises revenue, why not cut taxes to ZERO!!!!
That should pay down the $33.7 Debt in no time, huh?
You must be from Baltimore.
 
LOL. I proved your assertion was a lie. Don't go away mad...
My assertion stands: YOU lied when you claimed the Trump across the board tax cuts ran up the debt. You are so stupid you posted numbers proving you lied.

Moron. :auiqs.jpg: :auiqs.jpg: :auiqs.jpg: :auiqs.jpg:
 
A tiny increase in revenue hardly passes for a panacea. We owe $33.7T plus interest. Cutting taxes again isn't the answer.
My point was that the Debt exploded after the tax cut.
Third and last time, the increase in debt was not caused by the tax cuts - revenue increased after the tax cuts.
The whores should have cut spending too.
On that we can agree. Minimum 10%. Frankly, I'd be happy with a 50% cut and the other 50% goes to pay the credit card bills they have saddled our children and grandchildren with
 
A tiny increase in revenue hardly passes for a panacea. We owe $33.7T plus interest. Cutting taxes again isn't the answer.
My point was that the Debt exploded after the tax cut. The whores should have cut spending too.
No, your point was the tax cuts ran up the debt. That has been proven to be as lie.

Changing your story now won't help you, liar.
 
If cutting taxes raises revenue, why not cut taxes to ZERO!!!!
That should pay down the $33.7 Debt in no time, huh?
You must be from Baltimore.
Thanks for once again proving your complete economic illiteracy, Stupid.
 
My assertion stands: YOU lied when you claimed the Trump across the board tax cuts ran up the debt. You are so stupid you posted numbers proving you lied. Moron.
1. I can find links that show I'm right.
FACT: The Trump admin passed the tax cuts AND the spending increases running up the DEBT.

Tax cuts under the Trump Administration increased the deficit and debt

2. You lied when you said that Trump's tax cut raised revenue EVERY year. No biggie. You should have said "Trump's tax cuts generally raised revenue.
 

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