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dontmeantobepoliticalbut · 1 year

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The first item listed on this week’s House legislative schedule following the historically chaotic selection of a House Speaker and seating of members—including the scandal-plagued and apparently unpopular freshman George Santos (R-N.Y.)—is consideration of the ill-named Family and Small Business Taxpayer Protection Act.

This Republican bill is ill-named because what it actually does is protect tax cheaters by repealing most of the new IRS funding set forth in last year’s Inflation Reduction Act.

If any of you political junkies feel a touch of déjà vu, that’s understandable. Neutering the IRS was also a top priority for Republicans the last time they took over the House from the Democrats, in January 2011. And neuter the taxman they did. As I wrote previously:

“From 2010 to 2018, even as the IRS received 9% more tax returns, its annual budget was slashed by $2.9 billion—a 20% reduction that cost the agency more than one-fifth of its workforce. Investigations of non-filers plummeted and the amount of outstanding tax debt the IRS formally wrote off (based on the 10-year statute of limitations for collections) more than doubled—from less than $15 billion in 2010 to more than $34 billion in 2019.

Virtually no partnerships were audited in 2018. By then, with Donald Trump in the Oval Office, the kneecapped IRS was scrutinizing the individual returns of just 0.03% of those $10 million–plus taxpayers, down from a peak of 23 percent in 2010. Audits of the $5 million–to–$10 million filers fell from just under 15% to a scant 0.04%.

A fair subset of superwealthy Americans doesn’t even bother filing. The Treasury Department’s Inspector General for Tax Administration reported in 2020 that nearly 880,000 ‘high income’ non-filers from 2014 through 2016 still owed $46 billion, and the IRS was in no condition, resource-wise, to collect. The 300 biggest delinquents owed about $33 million per head, on average. 15% of their cases had been closed without examination by IRS staffers, and another one-third weren’t even in line to be ‘worked.’”

The recently enacted IRS funding—$80 billion over 10 years—was meant to remedy this shameful state of affairs. The Congressional Research Service said the money would be used to modernize the tax agency’s decrepit systems, provide operations support, improve taxpayer services, and “monitor and enforce taxes on digital assets such as cryptocurrency.” Perhaps most importantly, it would bolster the agency’s ability to hire specialized enforcement agents—tax professionals with the expertise needed to decode the opaque and voluminous returns of sophisticated tax-avoiders like the Trumps, who have armies of tax lawyers and accountants on the payroll.

The projected return on investment, just from collecting taxes owed, is substantial. The Congressional Budget Office estimated that new enforcement measures alone would reap $204 billion over 10 years—about $4.50 per dollar spent on that aspect.

No matter. As the Inflation Reduction Act moved toward passage last August, Republican officials and Trump minions unleashed a barrage of lies on social media, falsely claiming the IRS would use the money to hire 87,000 new agents who would then come after ordinary taxpayers—people like you!

The House GOP seems inclined to double down on that fear-mongering. The nonprofit group Americans for Tax Fairness points out in a press release that the repeal legislation would rescind nearly $72 billion of the promised funding—90% of the total—including:

• $45.6 billion for tax enforcement activities to catch wealthy and corporate tax cheats

• $25.3 billion in operations support for tax enforcement programs and taxpayer services [including customer helplines and correspondence] critical for ensuring taxpayers get refunds on time and phone calls answered

• $403 million for the Inspector General for Tax Administration, which promotes the integrity, economy, and efficiency of the federal tax system

• $153 million to beef up the US Tax Court to resolve taxpayer and IRS disputes

• $15 million for the IRS to prepare a report on what it would take to create a free, government-run tax e-filing system that would make it much easier for taxpayers to file their tax returns without paying a private service to help them

“The richest 1% avoid paying $160 billion a year that they owe in taxes due to inadequate tax enforcement. Republicans are voting to let them keep on cheating the rest of us,” Frank Clemente, ATF’s founder, lamented in the release.

With the Democrats in control of the Senate, this particular vote may be largely performative. But Steve Rosenthal, a senior fellow at the Tax Policy Center and former staff lawyer for Congress’ nonpartisan Joint Taxation Committee, told me he suspects that IRS funding will be an ongoing issue in Senate battles and future congressional budget debates—including the upcoming debt ceiling fight.

Republican lawmakers, in any case, seem to have a fetish for performative votes on anti-tax bills written to benefit America’s wealthiest. As I pointed out in my book last year, after a Who’s Who of dynastic families spent millions lobbying for the repeal of inheritance taxes, congressional Republicans introduced no fewer than 44 bills in a decade aiming to do precisely that.

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politijohn · 1 year

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Nothing to see here, just corruption in the highest court!

#scotus #current events #news #supreme court #corruption #capitalism #politics #us politics #eat the rich #tax the rich #important

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artbyfinnbrown · 7 days

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Otto is the only member of Emilia camp who knows how to pay their taxes.

#otto suwen #re:zero #rezero #Emilia knows about how to collect taxes as part of her royal candidate training #But she doesn’t know how to pay them #Roswaal used to pay his taxes but he hasn’t for the past 100 years because he’s the court mage and can get away with stuff like that #Beatrice claims to have read a book on taxes once but the truth is she fell asleep reading it and doesn’t remember anything about it #But she’ll never admit that

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theladyofbloodshed · 9 months

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Does Feyre ever question where Rhys gets his obscene wealth from? He has an entire room of tiaras and crowns, but has she never felt guilty that he hoards so much money when the Spring tithe angered her deeply?

A salary is paid to his inner circle, they have lines of credits in stores, but they all live in his house and eat his food - what's he paying them with? How can such a massive salary be justified when it's not used or recycled back into Velaris?

The economy makes no sense and the fact Feyre never actually realises that Velaris' citizens paying taxes is the same damn thing as a once a year tithe really cements the fact that she knows shit about being a high lady

#amren even tells her that city dwellers pay a tax #and whilst a tithe usually has religions connotations #in acotar it's used for the benefit of the spring court and its high lord

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tomorrowusa · 4 months

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There's been another tranche of student debt forgiveness by the Biden administration.

The Biden administration on Friday announced another $5 billion in debt forgiveness for 74,000 student loan borrowers. Why it matters: Although the Supreme Court blocked Biden's signature student loan forgiveness plan, his administration has found alternative ways to provide relief to more than 3.7 million people.

The Republican Supreme Court has tried to block student loan relief, but the Biden administration hasn't stopped looking for legal ways around SCOTUS for specific groups of Americans burdened by such debt.

Since 1981 Republicans have serially backed enormous tax breaks for their filthy rich contributors, but they vehemently oppose loan forgiveness for middle class and poorer taxpayers.

House GOP advances bill to block Biden’s student loan repayment program

Supreme Court, Republicans to blame for lack of debt forgiveness, students say in poll

In general, Republicans oppose higher education. Their base is made up of dumbass morons who believe conspiracy theories and they need more voters like that who won't question the bullshit that comes out of the GOP.

The Republican jones for deregulation since the Reagan-Bush era has led student debt to spiral out of control. The vicious circle of more burdensome loans feeding ever-increasing tuition fits well into the GOP agenda. It's a system that discourages post-secondary education for anyone who isn't rich.

President Dwight Eisenhower was no radical. But he knew what made America strong. The highest federal income tax rate for the filthy rich during most of his administration was 91%. And it was universally regarded as a period of enormous economic growth and prosperity.

A portion of that tax revenue went into the National Defense Education Act which, among other features, provided for grants and loans for post-secondary education – particularly for STEM, teacher education, and foreign languages. That was the impressive start of the federal student loan program. It was never meant to be a permanent chain around the necks of college graduates.

National Defense depends on smart Americans. But certain Russia-friendly Republicans have no interest in standing in Putin's way.

#student loans #student debt forgiveness #biden administration #post-secondary education #national defense education act #national defense #dwight eisenhower #high tax rates on the filthy rich #republicans oppose debt forgiveness #house republicans #the gop us supreme court #election 2024

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dontmean2bepoliticalbut · 2 years

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#us politics #2022 #us supreme court #scotus #dobbs v. jackson women’s health organization #roe v. wade #planned parenthood v. casey #taxes #tax returns #irs #internal revenue service #us government #abortions #abortion bans #income tax returns #fetal viability #personhood #reproductive health #reproductive rights

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historyforfuture · 6 months

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If you ever wondered why US taxes don’t pay for health care. It goes to #Israel so they can do this.

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kakashis-kunoichi · 6 months

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View this post on Instagram

A post shared by Rahma Zein 🇵🇸 (@zein_rahma)

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hezigler · 5 months

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Billionaires Don’t Want You to Know About This Supreme Court Case | Robe...

youtube

"We have the best government money can buy." Mark Twain

#robert reich #moore v us #moore v. u.s.#supreme court #wealth tax #Youtube

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uranium · 1 year

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has anyone here legally changed their name for transgender reasons? im 100% serious about making my middle name to hazard along with fixing my deadname but i dont know if they would like. allow that lol

#you dont put your middle name on most forms even official ones #like i dont use my dead middle name ever when im doing tax stuff or leases or stuff #so i dont think it would impact me professionally if i never have to use it #i just dont know if a court would think im being serious about it.....i do really want hazard as my middle name like...Thats Me

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dontmeantobepoliticalbut · 1 year

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The House Ways & Means Committee is now in possession of six years of former President Donald Trump’s tax returns after a three-year battle to obtain them.

The Committee received the documents from the Treasury Department on Wednesday after the Supreme Court rejected Trump’s final appeal on Nov. 22, according to the Treasury Department.

“Treasury has complied with last week’s court decision,” a Treasury official said.

The receipt of Trump’s tax returns brings to a close a three-year legal fight that began when Ways & Means Committee Chairman Richard Neal (D-Mass.) asked the Treasury Department to hand over the then-president’s tax returns under a law that allows congressional tax-writing committees to obtain tax returns for its investigations.

Trump was the first major party presidential nominee since Richard Nixon to not publicly disclose their tax returns while running for the office or while in office.

“I intend to see this through,” Neal told HuffPost on Wednesday when asked if he’d submit information from the returns to the full House this year.

#us politics #news #huffington post #donald trump #trump administration #2022 #republicans #conservatives #gop #us supreme court #scotus #department of treasury #irs #internal revenue service #trump tax returns #trump taxes #house ways and means committee #rep. Richard Neal #president richard nixon

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2boldlyqueer · 2 years

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This is so funny but i used to live in the town next to sean patrick maloney and one day his horse got lose and started eating petunias in peoples yards and we had to corral his horse back to him. Also his goat got out once and fell into the mayors pool and the mayor had to save his goat. Even if i still lived in NY i wouldnt vote for him bc the man was rude to us Small Town people AND clearly needs a better fence 😤

Lmfao I can totally see it

However the other choice was a raging antisemite who campaigned hard against bail reform, so he would've been the lesser of two evils.

#Sean Maloney raised your taxes because Pelosi told him to. Mike will lower taxes and stop the democrats from destroying #Your retirement fund #the police put dangerous criminals behind bars. Sean Maloney wants to put them back on the streets #Also the attack ads against Maloney were such horseshit #Pun not intended but incredibly enjoyed #But they were like #And #Such fear mongering bullshit #I will personally build Sean Patrick Maloney a fence for his farm animals if it means he's the rep here lmao #Or even better if I could go back far enough to make him NOT RUN HERE THIS WAS MONDAIRE'S DISTRICT #also fuck the ny dems that tried to gerrymander so hard they got the courts to intervene #The courts redistricted us in a way that made it so northern Westchester gets overpowered by Putnam/Rockland/Dutchess #Tony complains about politics

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melhekhelmurkun · 2 years

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I’m watching School of Rock for the first time in forever and…

As someone who has now been in charge of children, plus as someone who has a teacher for a father, in hindsight this movie is really really horrible lmao. My guy legit kidnapped 20 kids TWICE, taught them nothing from the curriculum for 3 weeks, implied TO THEIR PARENTS that he was a child predator, nearly ruined his friend’s career, committed fraud, etc etc etc…

I love Jack Black so much but also like this movie and his character is shit. Shit person, shit excuses for responsibility, moral of the story is great but the execution is questionable. Still love it tho

#still love it #I haven’t seen this movie since I was a little kid #and it’s a lot easier to ignore the huge legal and moral issues in it when you’re a kid #but again #I’ve been in charge of children #I was a camp counselor last summer #and using kids for your own goals is NOT okay #especially when it jeopardizes their education and school record #as bitchy as the girlfriend was she was also the most responsible and mature person there #yes I would call the police on a guy committing literal tax and employment fraud #yes I would call the police on a guy who impersonated my boyfriend #he also caused a hell of a court case for the principal too #I bet every single parent of every single kid in that class filed a lawsuit against the school #school of rock #jack black

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miralparis · 2 years

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why am i like this

#........considering getting a masters in accountancy........#when i swore off school after that damn jd #but i miss numbers and uhhhhh hate court #it's been on my mind since law school and even before but my undergrad school was so competitive i didn't want to try and transfer in #i took some accounting and tax related classes in law school and really liked bankruptcy issues #but court man i hate it #so....maybe this will happen #just talking it out in the tags here but yeah....i kinda wanna #also feelin like a goober using my ellipses like this but it's the mood so

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in-sightpublishing · 1 month

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Shedding light on religious property tax exemptions

Publisher: In-Sight Publishing Publisher Founding: March 1, 2014 Web Domain: http://www.in-sightpublishing.com Location: Fort Langley, Township of Langley, British Columbia, Canada Journal: In-Sight: Independent Interview-Based Journal Journal Founding: August 2, 2012 Frequency: Three (3) Times Per Year Review Status: Non-Peer-Reviewed Access: Electronic/Digital & Open Access Fees: None…

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nando161mando · 3 months

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