Sure, but these things are anecdotal at best...And, basic economics shows that as taxation rises, under the table, or off books payment increases...You never heard of people getting paid under the table?
Unreported income is estimated to cost the US 500 billion a yearSure, but these things are anecdotal at best...And, basic economics shows that as taxation rises, under the table, or off books payment increases...
Also, it is my view that consumption taxation is NOT an equal taxation system...Wealthier people tend to spend on bigger tickets, but overall spend less than middle, or lower income people as a relation to their income...That's just a fact.
Why? Do these people not use the same infrastructure that I, or you use? It has been said over and over by liberals in these arguments that taxation is the price we pay for living in a civilizied society...Do not the lower incomes also enjoy the benefits of that society?It most certainly would be fair. I would add the caveat that those making less than x amount would be exempt.
These folks that complain that this wouldn’t be fair are the same ones saying that the rich don’t pay their fair share because they have accountants that manipulate the system. This would eliminate. If a guy makes 5 million a year, he pays 500k, period. According to Democrats, this guy is not paying that much now due to fancy accounting.
That report is 10 years old for God's sake....And you are making my point...Obama was in then with his increasing taxation, therefore increasing unreported income.Unreported income is estimated to cost the US 500 billion a year
The IRS says that the United States lost $500 billion in taxes in 2012 because of unreported income.
You were complaining about Biden wanting to tax corporations more and then showed individual tax revenues.You wrote..."You conflated individual taxes with corporate taxes."
I DIDN"T do any conflation! Conflation is taking two separate sources. I had just one.
WRONG... Prove to me where I complained about Biden wanting to tax corporations? I was asking a simple question.You were complaining about Biden wanting to tax corporations more and then showed individual tax revenues.
And in less predictable news, the sun shone on the Sahara today. Do you have those phrases recorded in a macro or something?Of course you are brainwashed with misinformation. All you know about is federal income taxes The only progressive tax we have. If you count all taxes, everyone is paying about 27%, a huge giveaway to the rich and why you get the worst inequality and upward mobility ever anywhere. Google the only tax graph you need to know. And stop being a chump
Actually it is ignorance to use exaggeration to substantiate your personal subjective opinion!It's common sense to think that millions of people have income they do not report.
Actually it is ignorance to use exaggeration to substantiate your personal subjective opinion!
"Millions of people" have incomes they don't report? Where is your proof? Or is that JUST YOUR personal, uninformed opinion?
How the IRS knows you didn't report income
Unreported income is huge deal to the IRS.
The agency recently estimated that the U.S. loses hundreds of billions per year in taxes due to unreported income. Considering the amount of lost revenue, it's not surprising that the IRS has a process for determining unreported income.
When it suspects a taxpayer is failing to report a significant amount of income, it typically conducts a face-to-face examination, also called a field audit. IRS agents look at a taxpayer's specific situation to determine whether all income is being reported.
Here are some clues the IRS uses to determine if a taxpayer isn't being completely forthcoming.
- T-account analysis:
- Bank deposit analysis:
- Website and e-commerce activity:
- Information statement matching:
- Business financial ratios:
Thank you Blues Man for providing the source of your initial comment. Simple wasn't it?
We see that the problem isn't necessarily "high earners" and really are the super rich going to be the ones getting paid under the table or making some extra money selling shit on E bay ?Thank you Blues Man for providing the source of your initial comment. Simple wasn't it?
While the majority of the conclusions reached by the above NOLO.com "experts" appear to be
valid, but there is net cost of "Biden Seeks $80 Billion to Beef Up I.R.S. Audits of High-Earners"
Biden’s latest proposal would require banks to turn over to the Internal Revenue Service bank account information for all accounts holding more than $600.
will require YOUR personal bank account of $600 or more to have your information turned over to the IRS.A major component of President Joe Biden’s plan to raise revenue to pay for his trillions of dollars in new federal spending is now under fire from trade associations across the country.www.yahoo.com
You ready for that?
And while your comments regarding the "underground economy" are valid Biden's "fair share" still is not determined.
All activities in the "underground economy" are considered "illegal" and constantly scrutinized for arrests.
But Biden's IRS budget increase of $80 billion doesn't concentrate on that, but ordinary tax abiding Americans and
businesses. Frankly when Biden's "zero" budget
Congress has authorized spending up to $3.5 trillion over a decade, but Biden is prodding Democrats to fully cover the cost of the legislation —
The idea is that entire package should pay for itself.
- by raising taxes on corporations and the wealthy,
- negotiating the price of prescription drugs and
- dialing up other sources of federal revenue such as increased IRS funding.
WASHINGTON (AP) — What will it cost to enact President Joe Biden’s massive expansion of social programs? Congress has authorized spending up to $3.5 trillion over a decade, but Biden is prodding Democrats to fully cover the cost of the legislation — by raising taxes on corporations and the...apnews.com
Raising taxes on corporations will be passed on by the corporations in raised prices of goods and services...i.e. us!
So how is that "fair share"?
Will the "fair share" also mean giving up the privacy of YOUR checking account if it is over $600? Is that ok with you?