"So Nobody Is Going to Pay Taxes Now?"

[Jarod the Original]

- Left-wing Democrats: make the very rich pay a (never seen elsewhere) 5% annual wealth tax to fund free stuff

- Centrist Democrats: shrink the US tax base further by exempting tens of millions from federal income taxes

Tens of Millions of Americans Would Pay Zero Income Tax Under New Bill

The Working Americans' Tax Cut Act would wipe out federal income tax liability for many lower earners.

www.newsweek.com

- Republicans: big debt-funded tax cuts anytime.

So Nobody Is Going to Pay Taxes Now?

America actually needs a tax base.

www.theatlantic.com

"Politicians from both parties are slashing rates and spinning loopholes. They’re telling workers that they shouldn’t have to pay for social services, or that even prosperous Americans are overtaxed. In doing so, they are imperiling the country’s financial security."

I would prefer to do away with income tax, and simply tax wealth. Dormant Bank Accounts, Accounts with more than a million dollars, investments over a million dollars, luxury taxes. There are better ways to collect funds than taxing hard work.

 

[Failzero]

Nope. Cut government spending in half.

End funding for Pride month and Abortion Clinics and Night after pill poppers

 

[eagle1462010]

Enumerated Powers.

Then States can do whatever the fck they want.

Allow places like Cali to Rape their people without infecting the rest of the nation with their BS.

AS INTENDED BY THE FOUNDING FATHERS

 

[task0778]

Apparently, Congress is thinking about raising the SSA monthly benefit by $200. Florida is gonna vote on a sharp cut in property taxes (homestead exemption). This at a time when the US heading $40 tril in debt and heading north at a fast clip. It's fiscal insanity, and nobody is blameless.

 

[eagle1462010]

Apparently, Congress is thinking about raising the SSA monthly benefit by $200. Florida is gonna vote on a sharp cut in property taxes (homestead exemption). This at a time when the US heading $40 tril in debt and heading north at a fast clip. It's fiscal insanity, and nobody is blameless.

40 tril cant be paid.

So they bribe peeps with free money so they ignore the cliff we have already run off of.

They will RESET the world and HELL is coming for averages folks.

It is Done on purpose

 

[Jarod the Original]

let local communities do as they please with their money.

 

[Failzero]

let local communities do as they please with their money.

Including not funding planned parenthood

 

[Jarod the Original]

Including not funding planned parenthood

If a local community chooses not to fund Planned Parenthood with local tax money, more power to them.

 

[Independent thinker]

Local property taxes is where the rubber meets the road.

In my area the public school system was like millions and millions of dollars over budget (I think over 100). They had a meeting and decided not to cut any expenses and they also decided not to raise property taxes either. And, I'm thinking, WTF? They're millions of dollars over budget. What are they going to do? Then I got my answer. They decided to re-assess property values astronomically for every home in the county. But, they didn't increase the property tax rate. LOL. People are pissed all over.

 

[Failzero]

If a local community chooses not to fund Planned Parenthood with local tax money, more power to them.

And if the Federal Government does so also ?

 

[Jarod the Original]

And if the Federal Government does so also ?

That is a more complex issue, but if, by the judgement of the people doing so is material to the health of the Nation, yes. If not, no.

 

[Greenbeard]

Nope. Cut government spending in half.

There’d be a Boomer revolt if their checks stopped.

 

[Jarod the Original]

There’d be a Boomer revolt if their checks stopped.

They own those checks, if they paid into the system.

 

[Greenbeard]

They own those checks, if they paid into the system.

They’re about 6 years away from discovering how untrue that is.

 

[my2¢]

I can't complain about state and local taxes here in Arizona. My property taxes are cheap and for years with my deductions to charity I have received a full refund of my state income tax withholdings.
(It's the increase in this city's water bills that has the citizens here up in arms.)

When I began getting Social Security at age 66 I got aggressive in moving money from my IRA to a Roth. Which is where Uncle Sam hit hard. When I first started in 2020, I limited the transfers so that I'd stay within the 22% tax bracket. These days with all the tax cuts including the old-farts deduction, plus being eligible to make QCD withdraws from my IRA, I'm planning to get down within the 12% bracket.

Once I get my income tax refund each year, I commence my tax planning for the current year. This year I'm withholding $11,526 and if things go according to plan my 2026 federal refund will be $55.

 

[Jarod the Original]

They’re about 6 years away from discovering how untrue that is.

Maybe, but I have been hearing that for 20 years.

 

[Spaniard22]

I would prefer to do away with income tax, and simply tax wealth. Dormant Bank Accounts, Accounts with more than a million dollars, investments over a million dollars, luxury taxes. There are better ways to collect funds than taxing hard work

That would be a pretty unique experiment in the world. Punishing private investors, savers and owners is a road to hell.

 

[Greenbeard]

Maybe, but I have been hearing that for 20 years.

The trustees have been projecting the trust fund would run dry in the late 2020s or early 2030s since the first Bush administration, 35 years ago. Bill is about to come due as expected.

 

[eagle1462010]

That is a more complex issue, but if, by the judgement of the people doing so is material to the health of the Nation, yes. If not, no.

And here is the problem with our country.

That they should take from us to give to whom they think deserve our money better.

They could have used birth control.

Oh but NOW I MUST PAY FOR THEIR MUSTAKE.

 

[1srelluc]

I can't complain about state and local taxes here in Arizona. My property taxes are cheap and for years with my deductions to charity I have received a full refund of my state income tax withholdings.
(It's the increase in this city's water bills that has the citizens here up in arms.)

When I began getting Social Security at age 66 I got aggressive in moving money from my IRA to a Roth. Which is where Uncle Sam hit hard. When I first started in 2020, I limited the transfers so that I'd stay within the 22% tax bracket. These days with all the tax cuts including the old-farts deduction, plus being eligible to make QCD withdraws from my IRA, I'm planning to get down within the 12% bracket.

Once I get my income tax refund each year, I commence my tax planning for the current year. This year I'm withholding $11,526 and if things go according to plan my 2026 federal refund will be $55.

Lots of people got screwed with a Roth.