Trump is a loser... of money

[Red]

I was just thinking how when he falls, it may be one of those things where it happens very fast, like....finally, everybody sees the emperor has no clothes. This reveal, of the truth about his finances, has to be hugely embarrassing to his huge ego. This was revealed at a perfect time to make him feel and look like the emperor with no clothes in the debate. He can look really bad tomorrow night because of this.

 

[NAOS]

We need a flat tax. Simplify the code.

Everyone has cheated on taxes - your shirts donated to Goodwill are not worth $20 and answering ‘no’ that pesky old question of whether you purchased something outside of the state online are hallmarks.

The problem is that our tax code yields advantages like the ones Trump’s accountants took full advantage of. And his brazen behavior to lie about his wealth when it’s obvious that he’s more Schitt’s Creek then Dallas compounds these fact that he can’t be trusted.

Surprised to see you support a flat tax. I’d say we need an aggressive graduated tax scheme now more than ever.

 

[NAOS]

I was just thinking how when he falls, it may be one of those things where it happens very fast, like....finally, everybody sees the emperor has no clothes. This reveal, of the truth about his finances, has to be hugely embarrassing to his huge ego. This was revealed at a perfect time to make him feel and look like the emperor with no clothes in the debate. He can look really bad tomorrow night because of this.

Never underestimate the power of “fake news”

 

[Eminence]

We need a flat tax. Simplify the code.

Everyone has cheated on taxes - your shirts donated to Goodwill are not worth $20 and answering ‘no’ that pesky old question of whether you purchased something outside of the state online are hallmarks.

The problem is that our tax code yields advantages like the ones Trump’s accountants took full advantage of. And his brazen behavior to lie about his wealth when it’s obvious that he’s more Schitt’s Creek then Dallas compounds these fact that he can’t be trusted.

I think there are ways to simplify the code without having a flat tax.

Starting with the IRS sending out the bill instead of having each individual do it.

 

[JazzyFresh]

Just skimmed the article but it seemed like he didn't cheat, just took advantage of the BS tax rules that protect the rich right? Which sucks but is fair. Or did he really lie and cheat?

Exactly.... Not to mention it clear him of any Russian wrong doing.

 

[Avery]

I think there are ways to simplify the code without having a flat tax.

Starting with the IRS sending out the bill instead of having each individual do it.

Which would be fine. My whole point is that lean principles need to redraw tax law vs. a convoluted system of WTF Form 1040BBB.

 

[fishonjazz]

We need a flat tax. Simplify the code.

Everyone has cheated on taxes - your shirts donated to Goodwill are not worth $20 and answering ‘no’ that pesky old question of whether you purchased something outside of the state online are hallmarks.

The problem is that our tax code yields advantages like the ones Trump’s accountants took full advantage of. And his brazen behavior to lie about his wealth when it’s obvious that he’s more Schitt’s Creek then Dallas compounds these fact that he can’t be trusted.

I can honestly say I have never cheated on my taxes. Never itemized in my life. Standard deduction every year done on turbo tax

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[JazzGal]

I keep a list of everything I order out of state and keep meticulous track of taxes charged for the Use Tax. But I admit I don't know anyone else that does.

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[Avery]

I keep a list of everything I order out of state and keep meticulous track of taxes charged for the Use Tax. But I admit I don't know anyone else that does.

Sent from my moto z3 using JazzFanz mobile app

Most websites now will always charge sales tax with the new laws that started last year with the Supreme Court ruling. Better for you as you don’t need to self-report or you will get double-dinged.

I used to itemize, but the new tax laws makes the standard deduction better.

 

[Handlogten's Heros]

I think there are ways to simplify the code without having a flat tax.

Starting with the IRS sending out the bill instead of having each individual do it.

Flat tax simplifies nothing. Deductions are what complicated things... easy to say get rid of deductions for individuals but it’s impossible for businesses. Always makes me laugh when people say flat tax would simplify things... the rates aren’t the problem. Can’t tax businesses that on gross receipts alone... there will always be deductions there and that is where the time and complexity is.

 

[TheGoldStandard]

Surprised to see you support a flat tax. I’d say we need an aggressive graduated tax scheme now more than ever.

I think a true flat tax (more likely a flat tax w low income exemption) on income would likely result in the government taking more money from the super rich while keeping the status quo for the rest of us, resulting in a better budget. Uncle Sam could look at the average effective tax rate for a band of income and extrapolate those #s at the flat tax rayes.

However, a true flat tax would remove many jobs for tax preparers, accountant, retirement plan experts (no more deductions for donations, retirement plan contributions, etc.).




With all the jobs that would be lost, and the lobbyists fighing to protect them, it will never happen. The IRC will get more complicated, and likely see a bump in income for top earners. They could also impose a alternative minimum gross earnings tax for those making over a certain $ threshold. Many states already have a gross receipts tax on businesses. Seems to fix most of the tax games. Again, get past the lobbyists and taxpayers...don't think it will ever happen.

 

[Handlogten's Heros]

I think a true flat tax (more likely a flat tax w low income exemption) on income would likely result in the government taking more money from the super rich while keeping the status quo for the rest of us, resulting in a better budget. Uncle Sam could look at the average effective tax rate for a band of income and extrapolate those #s at the flat tax rayes.

However, a true flat tax would remove many jobs for tax preparers, accountant, retirement plan experts (no more deductions for donations, retirement plan contributions, etc.).




With all the jobs that would be lost, and the lobbyists fighing to protect them, it will never happen. The IRC will get more complicated, and likely see a bump in income for top earners. They could also impose a alternative minimum gross earnings tax for those making over a certain $ threshold. Many states already have a gross receipts tax on businesses. Seems to fix most of the tax games. Again, get past the lobbyists and taxpayers...don't think it will ever happen.

This is completely dumb. There will always be deductible expenses for businesses. There are some gross receipts fees but they are super low and apply to only certain types of entities. How you going to tax gross receipts like every business has the same margin.

Accountants spend like no time on rates and brackets... it’s all about deductions. You can remove personal deductions and exemptions but that will hurt the average Joe more than guys like trump. Business owners are the wealthiest people and they get to deduct business expenses. Flat tax would do nothing to hurt them. Honestly it would provide incentive for them to hoard profits rather than invest in equipment, buildings, expansion because they can write off those expenses... take away the punitive upper tax rates
likely just hoard the cash.

We have an alternative minimum tax... it doesn’t work and hammers the middle class.

We need tax reform but it’s so much more complicated than a flat tax.