What Happens If We Have An Income Tax Shortfall?
Jan 30, 2021 19:43:04 #
DASHY wrote:
Three ways to offset loss of revenues due to decrease in Income Tax:
1) Levy a Wall Street tax on financial transactions.
2) Reverse Trump's Tax Cut for the Wealthy.
3) Calculate the tax on Capital Gains and Dividends as ordinary income.
Low and middle income Americans will benefit. Wealthy people will get to pay their fair share.
1) Levy a Wall Street tax on financial transactions.
2) Reverse Trump's Tax Cut for the Wealthy.
3) Calculate the tax on Capital Gains and Dividends as ordinary income.
Low and middle income Americans will benefit. Wealthy people will get to pay their fair share.
You really think the Dem's will bite the hand that feeds them?? Wall ST & wealthy are the biggest promoters of Democrats! The will reverse some of Trump's tax cuts but it will FALL mostly on the middle-class! Middle-class NO LONGER supports the Dems! They won't touch Wall St!
Jan 30, 2021 19:50:46 #
Milosia2 wrote:
Raise taxes on wealth !
I like Ike. 90% taxes on profit over
$2 million.
Create more jobs that will in turn create more revenue. Create higher paying jobs to create even higher revenues.
Stop giving wealthy people free money.
Wall Street transaction tax.
Traders have analytics that auto trade 70,000 transactions per second.
A very small tax would create billions in revenue.
I like Ike. 90% taxes on profit over
$2 million.
Create more jobs that will in turn create more revenue. Create higher paying jobs to create even higher revenues.
Stop giving wealthy people free money.
Wall Street transaction tax.
Traders have analytics that auto trade 70,000 transactions per second.
A very small tax would create billions in revenue.
Biden just destroyed many high-paying jobs in his 1st week....the Dem's don't WANT more jobs, they WANT to crush the economy! What part of that do you NOT understand?? There are many things they COULD DO, Trump PROVED that, but they WON'T!! Their biggest donations come from WALL ST...they will NOT kill their golden goose!
Jan 30, 2021 19:51:44 #
lpnmajor wrote:
Are you kidding? The federal government hasn't relied on income and excise taxes for funding since bill clinton left office, that's the definition of "deficit" spending.
Jan 30, 2021 19:53:03 #
Liberty Tree wrote:
You mentioned nothing about cutting spending. Democrats never do.
TOO logical to consider!
Jan 30, 2021 19:53:46 #
skyrider wrote:
Shortfalls no longer matter. Just print until you can print no longer , then watch the biggest economic crash disaster in world history.
That's the current plan!!
Jan 30, 2021 19:56:44 #
Jan 30, 2021 19:59:43 #
Auntie Dee wrote:
You really think the Dem's will bite the hand that feeds them?? Wall ST & wealthy are the biggest promoters of Democrats! The will reverse some of Trump's tax cuts but it will FALL mostly on the middle-class! Middle-class NO LONGER supports the Dems! They won't touch Wall St!
Agree... Wall Street off limits. Do you think they would tax their own ill gotten gains that they have invested?
Talking about a gasoline tax..... makes sense since they locked everyone at home....again, the left politicians are no smarter then the wacko left jabber walkies on this site....
Jan 30, 2021 20:00:00 #
Milosia2 wrote:
This is why Donald filed a $1Billion Loss.
If which he got a $400Million rebate.
A glimpse at Donald’s taxes reveals he hasn’t made a dime on any of his golf courses. They all lost money, and always do. What a wonderful businessman.
Hasn’t made a dime his whole life.
If which he got a $400Million rebate.
A glimpse at Donald’s taxes reveals he hasn’t made a dime on any of his golf courses. They all lost money, and always do. What a wonderful businessman.
Hasn’t made a dime his whole life.
Jan 30, 2021 20:02:39 #
Jan 30, 2021 20:04:51 #
Auntie Dee wrote:
img src="https://static.onepoliticalplaza.com/ima... (show quote)
Milieus 2, so glad to meet the self proclaimed Tax Attorney .... of course only for the dumb and stupid....
Jan 30, 2021 20:07:45 #
DASHY wrote:
The economies of most countries, including the United States, fall somewhere on the spectrum between pure capitalism and pure socialism. It is not either one or the other, it is where each country fits on the spectrum. In the United States, Republicans lean toward capitalism on the right, Democrats toward socialism on the left. Each side argues for the merits of their convictions. That's what makes America great.
That is why the Democrats are now trying their best to shut-down free speech & the MEANS to argue, they don't want America to be great, they want to destroy our greatness and dissolve us into the NWO!
Jan 30, 2021 20:10:47 #
crazylibertarian wrote:
You think PBS is an objective source?
Just slightly less objective then the NYT & WAPO, about 2 cm less!
Jan 30, 2021 20:13:27 #
F.D.R. wrote:
The problem is that no matter how you slice it WE are the governments source of income so WE end up taking money out of one pocket in order to put SOME of it back into the other pocket. At some point WE will run out of money, then what do the politicians do? Sell our homes, land and business' to the highest foreign bidder?
They're already working on the land & businesses & China always seems to be the highest bidder!! Those Chinese are probably tired of their tiny apartments, they would love our larger homes, is that next????
Jan 30, 2021 20:17:39 #
Milosia2 wrote:
Higher Taxes on UN Earned Income.
You really do resent the rich don't you?? But, I bet you follow FB, Twitter & Hollywood!
Jan 30, 2021 21:31:02 #
crazylibertarian wrote:
What Happens If We Have An Income Tax Shortfall?
Due to this pandemic lockdowns, there had to have been a decrease in work an-hours, likely in the millions, maybe billions. That would have to result in a marked decrease in wages to tax and in many cases throw workers into lower income brackets. The federal and state governments that rely on income taxes for finances could wind up with huge shortfalls.
Look for some big trouble!
Due to this pandemic lockdowns, there had to have been a decrease in work an-hours, likely in the millions, maybe billions. That would have to result in a marked decrease in wages to tax and in many cases throw workers into lower income brackets. The federal and state governments that rely on income taxes for finances could wind up with huge shortfalls.
Look for some big trouble!
================
How are we financially at present?
Yes, at present our national debts are $27 trillion. Biden don't know how and where money comes from except he knows how to spend. Biden has promised a number of countries to support. 1. Monthly funding to the PLO (Palestinians under Hamas.).
2. Biden promised to send money to countries in dire need of funding for their abortion business,
3. Pelosi sent money to the Muslim countries for aid, Sudan $700 million recently.
Here are some money sent as US foreign aids to foreign countries.
I am not sure if these are provided annually.
Afghanistan ($4.89 billion)
Israel ($3.3 billion)
Jordan ($1.72 billion)
Egypt ($1.46 billion)
Iraq ($960 billion)
Ethiopia ($922 million)
Yemen ($809 million)
Colombia ($800 million)
Nigeria ($793 million)
Lebanon ($790 million)
In 2009, Morsi of Egypt was given by Barack Obama $3 billion .
In 2015 Barack gave Iran $150 billion plus $1.8 billion cash. I think that cash was for a bribe back to the US to you know who.
Except Israel, these are all MUSLIMS countries who cut off our heads.
For 1400 years Islam had killed 272 million infidels and non Muslims. Source Tears of Jihad by Dr. Bill Warner.
Now that we have not much money left, but trillions of national debts, all they do is print money.
For 2020, there 's not enough tax to collect. Businesses don't have much income but losses, except perhaps Amazon and the Hi tech Industries. Amazon don't pay lots of taxes either due to so many tax loopholes they use in the IRS code.
People don't have any income to declare as taxable. No IRS tax to collect and no payroll tax to collect. instead we spend trillions of dollars to pay for stimulus and bailouts of business industries.
But why are we still paying so much money to the Muslim countries who terrorize us?
Now Biden is bringing more into the US like Hillary and Barack Obama.
WE must get out of Afghanistan. Since 20 years ago, we've spend tens of thousands of lives of our men there plus billions of dollars to support them. They want us there of course. And president Trump was right to pull most of our troops there. Russia was smart pulling out of Afghanistan some 20 years ago, for there is no positive effects staying there. They love to fight and they want us there for money.
Christians are annihilated by Muslim at the ME. A Century ago, there were 20 million Christians at the ME. Now, there are only few hundreds left, in their countries, like Egypt, Iraq, Lebanon, etc. Most of them are hiding in the mountain, and live as slaves by the Muslims.
Why are we giving money to the Muslims, yet Talib and Omar yell at the Christians, our country, and Israel.
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