Posted on 03/26/2016 2:01:17 PM PDT by Kid Shelleen
Gone are the days of sophisticated tax plans offered by international accounting and law firms to their wealthiest clients which the IRS, with the benefit of hindsight, categorized as “tax shelters”. So why is Commissioner Koskinen raising the flag upside-down in a signal of distress in March of 2016? Tax practitioners all around the country know exactly why. Too many taxpayers and a handful of unscrupulous “tax practitioners” are taking advantage of the almost absolute absence of tax enforcement by the IRS.
Yes, “Joe the plumber” and other average taxpayers know that no-one is minding the store. What happens when the IRS is not there to rein in taxpayers? The answer is human nature. Will Rogers once said, “Income tax has made more liars out of the American people than golf.” (For more such tax widsom, see this collection at irs.gov)
(Excerpt) Read more at forbes.com ...
Maybe making the IRS the enforcement arm of Totalitarian- care and hiring 15,000 new jackbooted thugs to administer a plan for 8,000,000 people wasn’t such a good idea after all. Just say’n.
Oh really but they come after little people like my husband and I. We owed IRS a certain sum of money last year, we made payments and made last payment in December. They sent us a refund check for an over-payment that I knew we had made- but they kept saying no, you owe it. So we cashed the over-payment check in January.
We filed our taxes March 1- in which we get a tax refund that was suppose to be auto deposited. We get a letter yesterday that they are holding our refund to ensure that we don’t owe any Federal taxes for any tax year and it will be about 6 weeks for the refund.
Now that is some kind of special stupid on their part.
I like that idea. Federal sales tax from everyone in any state and do away with all the rest of taxes.
Our son is getting married in September. At this Hotel where it is at, there are all kinds of taxes. Tourist tax, hotel tax, handling tax, state sales tax. The taxes all total to 16% of your bill for the room, wedding, food, etc.
Not to mention the hacking of the “IRS get your tax transcript” website. Now they have to offer those who were hacked two years of Life Lock for free.
Dang! Ain’t that just my luck. I’ve got an honest CPA. On the other hand, I smell a trap with lots of penalties and fees after April 15th.
The IRS is a disgusting organization. You should never be taxed for your labor. Goods and services yes. But a man’s labor should be 100 percent his alone and no one should have a piece of it. Especially the filthy pukes at the IRS.
Ah, yes. Let’s not restore freedom/choice to the masses, it might effect a minority adversely.
The NRST (modified Fair Tax) would *finally* encompass ALL persons (no exemptions), drive-up trade/barter/resale (’green’) and do that which no other tax scheme (especially a ‘flat tax) could do...be completely VOLUNTARY (Freedom again).
The biggest PRO it’s got going for it: No more ‘fair share’ crap; rate is the same across all economic strata. Its in-your-face on every receipt and every politician will be sh!tting themselves if they even bring up a vote to increase the % (poorest hit hardest BS).
Doesn’t fix my fairness situation.
>>my generation is going to have to pay a disproportionate amount of the bill for the excesses of generation X
Care of elaborate on those ‘excesses’? Genuinely curious.
Way I see it, with a dwindling # of ‘workers’ per ‘Ponzi recipient’, it’s the excesses of the retiree class that GenX+ is going to be taxed to the hilt to pay.
Course, we’re debating semantics on an illegal and unconstitutional tax that those with ‘income’ have had to pay involuntarily.
There already exist instance where We are taxed multiple times upon our property/$$; buy a used car...pay the tax. Buy ‘2nd+ hand’...pay the tax. All was taxed prior; maybe not by the same person, but taxed again none the less.
What makes YOUR instance any less ‘fair’ than the tyranny that exists for the masses? You would subject yours and their progeny for your personal betterment?
Yep. Show me the money... Where's my $2500/yr health care savings? In the long run we are all dead.
...chump change
$5B...Pffft....that’s nuttin’. Hillary lost $60B in State Department mismanagement. ‘What difference, at this point, does it make?!?!?!’
Why don’t you just download the PDFs from their website?
You are correct that if you spend savings previously taxed you would be disadvantaged but that would be somewhat offset by the fact that earnings or interest received from those savings would no longer be taxed. One of the hardest hit would be those with substantial incomes derived from trust funds some of which are multi generational. Other hard hit groups would include those with income from illegal activities, those working or doing business off the books, and illegal aliens.
Groups who would likely benefit would include those with current 401K and other retirement accounts funded with pre tax income. People who save or invest current after tax income would benefit substantially both in the amount available for investing and tax free return on investment.
Generally the Fair Tax is more advantageous to savers than spenders. I suspect that most taxpayers are like me in that the tax I find most fair is the one I don't have to pay.
Congress of the United States is why labor is taxed, not the IRS. Congress writes the tax law, it is signed by the President and the IRS is responsible for carrying out law that they did not, nor could not create.
Second since you most likely have already purchase most of what you need you will not pay a tax on those purchases. Things like your house, car, microwave, TV, ect you most likely already own.
Therefore you have a better chance of growing what you have already saved than some one who has just started in life.
The fact remains though that the FairTax is just a shuffling of the tax code away from income tax to a consumption tax. This will make it easier for everyone to see just exactly how much we have been paying. Income taxes hide a good chunk of the taxes that are really paid and that cant be done with a sales tax.
Politicians hate the fact that they will not be able to steal with out it being seen again. With the income tax or taxes like Obummer care they can hide it. Look at how many taxes were hidden in the Obummer care bill. Most people dont even know that it was a tax bill and not for health care.
My hope is to get that number to 50-100 billion in loses.
Let the IRS and it’s employees die a miserable death.
Your brush is too broad. LONG before GenX, my FRiend.
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