These are the bills House Republicans plan to bring to the floor in new Congress

it is like the idiotic death tax, the cost of collection and avoidance is much more than actual revenue produced. It is used to pander to the envious and enrich accountants and insurance firms
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Might want to check your math on that one.

 

You beat me to it, DL...
Not to Nitpick...But, 2 Mistakes...

 

BIG ones at that.

 

JUST The ENTIRE "Basis" of the "Claim"...
Outside of that? No biggie...

 

Trump's returns show he paid all that was due. deductions, loes and all the rest are quite legal.

 

Ah, your right. I'll ask again.

Does it make sense to chase down $1T at a cost of $6B with no guarantee of collecting all of it?

That's still a poor business decision.

 

This is a political forum. You cannot seriously or in any other way expect reason or logic.

 

We are 30 yrs past the 90s, a different time, especially during the 90s we had the dot boom where the internet completely changed commerce. Companies had over valued their stock, and had to pay taxes on the over valued stock. In addition, every company, old and new had to invest into their internet. That all changed with the dot bust.

 

Wtf? In your opinion it's not worth $6000 to go after 1 million indebted to you?
6 billion to chase down 1 trillion is the same ratio.

 

They did cut capital gains tax rates from 28% to 20% while balancing the budget. That was the biggest reason it was balanced. Cutting that rate actually increased that sources revenues. Just like the more recent cut in corporate income tax rate actually increased corporate tax revenues.

 

No, just cutting taxes is not a panacea for the economy.

 

No, just explaining the law. Again, what Trump does with his salary is his business. If he decided to "donate" to a specific governmental agency, then that is his prerogative. But according to IRC 170, he cannot take the deduction no matter what.

As I also explained, Trump likes to take every advantage he can and really did not need charitable contributions to lower his tax bill given that he had a net income loss and paid $0 taxes. My argument has always been that as long as he does things properly and within the code, I am fine. But he usually stretches those definitions, hence why the Joint Committee of Taxation said it has some $300 million in questionable deductions. And that is why they should be looked at and verified.

 

The "death tax" has been around, off and on, since 1789, then again in 1862, then again in 1913. Most states, other than a select few, have eliminated their state inheritance tax. And then you have probate, which can be a bloody mess if you die intestate, aka without a will.

 

How much can be recovered?

Maybe.

I doubt the cost is limited to those salaries.

Then again, I'm highly against the federal level of taxation. It's a scheme to take money to hold hostage over the states, a clear violation of the 10th amendment.

So there's that.

 

Wouldn't they have to have a speaker to bring this bills to the floor?

 

It depends on which taxes are cut. Some types of taxes cutting the rate has a bigger impact than others. There is no doubt that the cap gains cuts and corporate income rate cut both dramatically increased revenues in their category. Cuts in the rates for general income tax rates will spur economic growth but it might take 3-4 years to break even in revenues and then move ahead.

 

This is just plain silly.

First of all, any who are on hourly wages have always been watched like a HAWK. In fact, their taxes are automatically deducted from every payroll check. In fact, the amount deducted and held to the end of the tax year is often MORE than the wage earner owes!

The IRS already does everything it could possibly do to wage earners.

On the high income side, there is opportunity for under reporting, fabricated or exaggerated claims, and using various tax dodges that are not legal.

The uncollected taxes are on the high income side, NOT middle class and below.

 

That doesn't apply to the abortion related proposals. The majority of voters favor that women have access to abortion in all or most cases.

I would hope it doesn't apply to the Anti-China idea, as we do need to remember that we have to have a relationship with China.

The petroleum idea makes no sense, as all it does is prevent the president from using that reserve as a way to help moderate inflation.

The problem with the prosecution idea is that making prosecution a numbers game makes no sense. Plus, prosecution is expensive. Without funding, you can't expect prosecutors to do more prosecution.

The "born alive" thing isn't even a change. It's there purely for emotion.

Families and small businesses need the protection of knowing that the fat cats are paying taxes.

 

If what you say is true then there would have been no dot com bust.

 

Hes paid more in taxes than all of us combined I suspect.

 

Technically no. And that was not the intention of the 10th amendment. Furthermiore, the 16th amendment is the basis for all federal taxation now regardless if it is income, excise, or payroll. Texas does not have a state income tax, but it does have one of the highest property tax rates in the country. And its sales tax is 8.25% on about one thrid of all final goods and services. If the economy ever goes into a depression or recession, the tax coffers will dry up quicker than your realize.

 

Specific tax cuts can help, but broad-based tax cuts, the supply-side economics theory, have not worked since the Reagan era for their intended purpose. It is a deficit-driven policy and any cuts in government expenditures reduce the impact of what those cuts intended to do.

 

Texas property rates aren't a lot higher than I paid in San Diego, but that's immaterial. I moved from a 2 bedroom, one bath hovel in San Diego that cost $750,000 to a much newer, four bedroom, three bath home in Texas that cost $180,000. Even with a slightly higher rate I still pay a lot less in property taxes as a result. I never noticed any rise in sales taxes. Towns in California add outrageous sales taxes if the state doesn't.

 

Yeah, except you went from one of the greatest places to live in the US to Texas.